Organization Root Tag

Rocket said the Redfin deal is part of a purchase mortgage strategy, but originating and retaining residential mortgages in portfolio is the real endgame writes the chairman of Whalen Global Advisors.

Spending cuts at the Consumer Financial Protection Bureau are the latest in a rash of reductions at the agency, complicating the regulatory future.

Thirty-eight TD Bank locations and 24 Flagstar branches are set to shut down. Both banks are coming out of tumultuous periods.

The average size of purchase applications fell below the $400,000 mark, reflecting first-time home buyer interest, the Mortgage Bankers Association said.

Three Democratic senators joined Republican colleagues to confirm the businessman, who previously voiced his support for easing government regulations.

Early moves by the new head of the Department of Housing and Urban Development include blocking activities related to diversity, equity and inclusion.

The task force terminated vendor contracts at the Department of Housing and Urban Development worth a combined $305 million, according to its wall of receipts.

Now the structured mortgage securities are cheap enough that CLO investors are watching them more closely, according to strategists and investors.

The president is likely to nominate Federal Reserve Gov. Michelle Bowman to be the central bank's next vice chair for supervision, a post vacated by Michael Barr.

In a positive sign for the economy, headline inflation slowed in February. But the reading alone likely is not enough to break the Federal Open Market Committee out of its wait-and-see mode.

The Irvine, California-based firm reported a net loss of $67.5 million in the fourth quarter.

Rocket expects the combined company to achieve more than $200 million in run-rate synergies by 2027, it said in a statement.

Among the resignations are Mark McArdle, who was instrumental in creating the Qualified Mortgage rule, and Operations Chief of Supervision David Bleicken. It is unclear if the Consumer Financial Protection Bureau will hire anyone to succeed them.

The Trump administration intended to gut the Consumer Financial Protection Bureau through a mass workforce reduction, which could be a smoking gun in a court battle with the bureau's union.

Federal Reserve Chair Jerome Powell emphasized the need for patience amid uncertainty over the Trump administration's policies, saying there would be no immediate rate changes but that the Fed would proceed carefully.

Federal Reserve Gov. Michelle Bowman, one of the central bank's more inflation-wary officials, said the balance of risks for monetary policymaking could soon shift.

Hsieh stepped down from a day-to-day operational role following a contentious proxy battle for board leadership in 2023 but remained a director.

The company first entered the Canadian market in 2020 through an investment in an Ontario-based brokerage, which later rebranded to Rocket Mortgage Canada.

Many layoffs so far have been in the Small Business/Self-Employed Division, but the Large Business & International Division has also been affected.

Excess cash flow will pay timely interest and protect against realized losses in the rated certificates before being paid out to the class X notes.