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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.

As climate change causes more frequent disasters, more mortgages are at risk of going underwater. How can banks limit their exposure?

Ginnie Mae let go roughly 25% of its workforce following edicts from Elon Musk's Department of Government Efficiency, with other regulators in the crosshairs.

Authors in two separate Urban Institute papers warn how headcount reductions at the entities could negatively impact borrowers, taxpayers and the housing market.

Servicers—Citadel, NewRez and Selene Finance—will not advance any delinquent principal and interest. Eventually, that should reduce loss severities to the deal.

Company executives touted the immediate returns from its rebranding and Super Bowl advertising campaign, with February activity exceeding expectations.

The grandson of the PulteGroup founder did not elaborate on plans for a much-anticipated government-sponsored enterprise exit from conservatorship.

January's median payment also grew at its fastest pace since October as volatile interest rates hit homebuyers' wallets, the Mortgage Bankers Association said.

Housing finance players accused of wronging consumers slammed the lawsuits as politically motivated efforts by former Biden-era bureau director Rohit Chopra.

Investment properties are the primary properties backing the collateral pool, at 80.3%, while second homes account for 19.7% of the pool.

Trump administration nominees Bill Pulte and Jonathan McKernan will face Senate scrutiny Thursday over their approaches to oversight, with industry support but expected Democratic opposition, particularly from Sen. Elizabeth Warren.