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At the beginning of March, over 40 LOs were sponsored by the lender, but as of April 6, 10 LOs remain registered with it on the Nationwide Multistate Licensing System & Registry.

The Premier Agent program regarding leads, scrutinized in the lawsuit, accounts for the majority of the company's annual revenue.

The president of originations at the public company, Phil Shoemaker, will take over as CEO of the acquiring firm.

Affordability constraints have made borrowers who bought properties within the last 12 months increasingly vulnerable to price declines.

Also, MISMO names new president, Mr. Cooper appoints chief officers, Cenlar, Dovenmuehle add to servicing teams and Fairway goes in on reverse lending.

The change may decrease the amount of time that a servicer is required to hold a loan on their balance sheet.

A Connecticut Superior Court Judge has reviewed a long-running legal dispute that could define the role loan officers in direct mortgage operations play in originations.

Regional banks will need to implement holistic, sophisticated data and risk analysis technology following last month's bank runs, experts say.

The agency said it will include home valuation practices in its fair lending review. It's the latest effort by a Washington regulator to root out discriminatory practices in the profession.

With few clues coming from Federal Reserve officials about their next moves, the 30-year average dropped for a fourth straight week, according to Freddie Mac's latest survey.

Recent deposit flows raise questions about the Fed's support for these funds through its overnight lending facility, and whether that support is doing more harm than good.

The Cleveland Fed chief said she expects to make "some appreciable progress" toward taming price pressures in 2023, and estimates a closely watched gauge of inflation will reach 3.75% by the end of the year.

Homebuyers in Colorado, Florida and Texas can apply for a minimum $1 million loan with the company.

Rising vacancy levels, soaring interest rates and weaknesses exposed by recent bank failures have analysts and investors worried about banks' outsized exposure to high-rise office, apartment and retail properties.

The agency added increased emphasis on loss mitigation and special purpose credit programs following heightened calls for more participation in the latter from a minority trade group.

The cost and scope of data sharing were among bankers' top complaints, while fintechs would like fewer restrictions, a report by the Consumer Financial Protection Bureau found. 

Per the settlement, the board of directors will expand its headcount to nine, opening the door to include Steve Ozonian, CEO of Williston Financial Group.

The falloff in government-backed applications outpaced the overall decline, with volume down by over 8%, the Mortgage Bankers Association said.

Both lenders are also parties to separate, ongoing poaching lawsuits.

But attorneys for the small Chicago-based mortgage company remained defiant and actually welcomed the Bureau's move.