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The mortgage fintech looks to transition to a model of strategic platform partnerships rather than offer its own closing services as it simplifies operations.

Agency mortgage backed securities have slipped about 1.1% since the start of April, trailing Treasuries and the broader US bond market.

Company management touted its wins, including with total volume of $21 billion, the Redfin and Mr. Cooper purchases plus a record quarter for home equity.

The reverse mortgage division reported a loss due to hedging costs but on a net basis the company proved profitable ahead of peak market disruption in April.

The San Diego-based lender reported a net loss of $23.9 million for the January-March period, down from a net income of $97.9 million the quarter prior.

Much of the increase came from the wholesale channel, where margins were thinner, leaving them flat on for the origination unit on a sequential quarter basis.

The Irvine, California-based firm had a net loss of $40.7 million in the first quarter of 2025, a rebound from a net loss of $67.5 million in the previous period.

FHFA Director Bill Pulte has prioritized targeting fraud, including proposing a tougher Suspended Counterparty Program and debuting a mortgage fraud tip line.

The builder reported increased revenue from a year ago, with profits near par, as it sets to absorb new acquisitions across different lines of business.

United Wholesale Mortgage originated $32.4 billion, up 17% year-over-year and its best first quarter since 2022, helped by refinance volume of $10.6 billion.