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Also, loanDepot adds recent HUD official to board, Cherry Creek names CTO, Homebot taps former Ellie Mae executive to lead enterprise sales and Stewart Title hires, promotes team members across the U.S.

Other investors in the round include Caffeinated Capital Andreessen Horowitz, Singapore's GIC, GGV Capital and Moore Specialty Credit.

The share of home sales that were competitive remained above year-ago levels in July, but only by a few percentage points.

The Federal Reserve told a judge not to scrap Libor as requested by consumers in a lawsuit because it would pose a risk to financial stability and undermine years of global planning for a transition to a new benchmark for borrowing rates.

Depressed margins and a $219 million hit to its servicing rights fair value translated to a lower bottom line at the wholesaler.

In a best-case scenario, the money could wipe out almost one-third of the pandemic-related increase in missed payments, but it won’t exclusively be used for that purpose.

Also: Rocket announces expansion and Ginnie Mae extends comment period on nonbank capital plan

Originations of loans to the self-employed and other outside-the-box borrowers had better margins than mainstream mortgages in the second quarter, but rebuilding after the niche market’s temporary disruption last year generated significant expenses.

But median prices still rose 17% year-over-year, the company found.

Second quarter open orders were 37% higher than one year prior, while closed orders grew by 43%.

Financial institutions will have until early October to weigh in about new risk-based capital requirements for nonbanks.

A federal judge in Washington ruled that a temporary U.S. ban on evictions in parts of the country hit hardest by the coronavirus can continue, a major victory for the Biden administration’s efforts to extend protections as the Delta variant spreads.

While the company's mortgage originations saw a 46% annual drop in gain on sale margin, it anticipates that annual volumes will exceed 2020 levels.

This year's assessment for Fannie Mae and Freddie Mac is the first to take into account a January agreement between the Federal Housing Finance Agency and the Treasury Department that allowed the companies to retain more earnings.

The guarantor of mortgage-backed securities has been without a Senate-confirmed president for four and a half years. The vacancy makes it difficult for other government agencies to coordinate housing objectives, according to stakeholders.

The Department of Housing and Urban Development and Federal Housing Finance Agency, which supervises Fannie Mae and Freddie Mac, formed a pact to share information and coordinate investigations of potential fair-lending violations.

The new all-in-one brokerage aims to avoid the "one-size-fits-all approach,"Rocket Homes CEO Doug Seabolt said.

The companies are investing more in government-insured equity withdrawal products for borrowers ages 62 and up, which offer higher returns.

Shrinking gain-on-sale margins also ate into earnings, with growth expected to slow for the rest of 2021.

A jump in jumbo loan programs was countered by lenders dropping high loan-to-value conforming products.