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But the overall employment picture was bright in July, returning to a level last seen before the pandemic, the Bureau of Labor Statistics data found.

The company is withdrawing from consumer-direct lending and making other reductions given that widening spreads failed to offset savings from aggressive layoffs and gains in servicing advisory services.

More cost reduction is on the way in the third quarter, but management says it will not layoff staffers, despite having some excess capacity.

Even with the cooling housing market, the percentage of equity-rich properties will keep increasing.

The tech company's earnings are reflecting a cooling market.

NMN rounds up the latest technology launches and partnerships between fintechs and lenders.

The agency acknowledged that loan performance in the sector has been strong, but cited several reasons to think that might change, including rising interest rates, the effects of inflation and uncertainty about the future of work and commerce.

The company managed a small profit even though industry-wide challenges were compounded by struggles in its reverse mortgage business lines.

Equifax, the second-biggest global credit bureau, was hit with a proposed class-action lawsuit after a report that it provided inaccurate credit scores on millions of U.S. consumers looking for loans.

The founder of the New York City bank and CDFI focused on lending to underserved communities and augmenting digital capabilities.

While declining to comment on the pending Black Knight transaction and reporting a decline in earnings from the first quarter, management remains bullish on the home lending business.

Rates are expected to increase to 3.75% to 4% by the end of the year, and it's anticipated to stay high for longer.

The 30-year average has declined by 55 basis points in two weeks.

The REIT is paying a $10.5 million premium to acquire the company, which will allow it to bring servicing in-house.

The non-qualified mortgage company allegedly failed to follow through on approximately $38 million it contractually agreed to buy.

Servicing income and cost cutting bolstered the company's earnings, but not enough to prevent a reduction compared to comparable quarters.