Production costs, which typically run higher for such loans, can actually fall during a purchase market, a white paper published by the MBA found.

The impact on things like servicing rights would raise costs even for lenders that aren't banks, according to Mortgage Bankers Association President and CEO Bob Broeksmit. Others disagree.

But a great deal of variation in distress levels were reported between individual markets and property sectors, according to two new reports.

The fintech's platform can assess a customer's financial profile, run it through underwriting software and draft a pre-approval letter in minutes, according to a demo.

Executives were accused in a lawsuit of engineering a proposed $639 million acquisition of the fund by rival Rithm Capital Corp. in a way that is unfairly blocking a higher bid. 

The avoidance of one of the harsher economic scenarios is good news for banks, which are also contending with tighter profit margins and increasing competition for customers. But loan growth and credit quality could be at risk.

Merchants Bancorp says it will sell a total of four branches to two buyers and focus more on its core residential mortgage lending business. Banks of all sizes have been pruning branch networks in recent years.

Over 150 former staff of the real estate investment lender that was acquired by Roc360 earlier this year are among the founding team of the new venture named CV3.

Michael DeVito has been able to grow the government-sponsored enterprise's net worth, but at the current pace and without a rule change, it could take 10 years to build enough capital to exit conservatorship.

While the group's bid remains at $12.76 a share, it has beefed up its equity commitments, eliminated risks associated with debt financing and increased the damages it would pay if it fails to consummate the transaction, people familiar with the matter said. 

Interoperability does remain a potential issue, not just between the lenders and the merged technology companies, but with other vendors who do business with them as well.

The top three cities have an average payback period of just over 21 months on a 20% down payment.

The provider of home-equity loan products will partner with Cerberus Residential Opportunities, an affiliate of the capital management firm, with CEO Jerry Schiano at the helm.

A group publicly identified as Bidder J, that reportedly includes big names in finance, is willing to pay $1.61 per share above the $11.15 Rithm Capital agreed to.

Intercontinental Exchange Inc. can move forward with its takeover of Black Knight Inc. after the U.S. Federal Trade Commission accepted a binding settlement that will see key mortgage software products sold to rival Constellation Software Inc.

Its Encompass Lending unit will move into Austin as well as add to its Dallas-Fort Worth presence.

Also, Appraisal Institute appoints new CEO, Common Securitization Solutions names technology officer and two new lenders move into reverse mortgage.

The recently slimmed-down company named Chief Operating Officer Danya Sawyer as the interim successor to the former Wall Street executive.

The company claims its founder is acting out after he was removed from his positions due to a bribery scandal, in which substantial penalties nearly forced the business to close.

The amount represents more than half of UWM Holdings Corp.'s outstanding shares.