Also, Guaranteed Rate adds to its network, Fairway spotlights reverse mortgages, PrimeLending names production leaders and Rithm Capital finds names a head of investor relations.

As many had predicted, the federal regulator will be seeking to halt the acquisition by Intercontinental Exchange, according to a report from Politico.

The California-based lender will also have to pay a $1 million penalty

Companies like Guild Mortgage, Union Home Mortgage, American Pacific Mortgage and Go Mortgage have been expanding their footprint during a time of great upheaval.

Depending on the down payment, borrowers could see a .15% to .30% decrease

The war of words between the industry giants in federal court continues as the parties debate an injunction against CrossCountry Mortgage.

The deal would put housing data provided by the acquiring intelligence provider in front of lenders early in the mortgage borrowing process.

The cut reverts the mortgage insurance requirement to pre-financial crisis levels.

The Los Angeles bank, which disclosed the layoffs in a securities filing, is undergoing a broader restructuring under its new CEO. The bank expects $30 million to $40 million of savings per year from the job cuts.

As one of the latest examples of consolidation in the industry, the acquisition is notable in that it aims to preserve the availability of lending resources for both parent companies' customers.

Brady Torgerson, former president of First Security Bank-West, was sentenced to two years in federal prison after pleading guilty to fraud at two banks.

But the company expects positive margins in the first quarter from Bay Equity Home Loans and increased cross-sell capture from real estate agents.

The lender paid workers in commissions, and failed to provide a minimum wage over pay periods in which no loans were originated, counsel alleges.

Things turned sour soon after the sides agreed to a two-year, $6 million deal in late 2021, in which the mortgage company's logo would appear on a stock car during eight races, among other perks.

Long-time company veteran Joe Tyrrell is leaving and will be replaced on March 1 by Timothy Bowler, the president of ICE Benchmark Administration.

The company reportedly hired Truist to broker the loan origination system, which observers have been saying all along would have to happen.

Executives at the company said building special-servicing capacity will help the company brace itself for a potential change in the credit cycle.

Approximately 2,350 full-time employees and contractors — some of whom did mortgage-related work — were let go, according to the credit reporting agency.

Michael Strauss and his previous lending company still face four federal lawsuits from creditors and laid off workers seeking backpay.

The bank was already mulling headcount and compensation reductions in early September.