While the acquisition of the NBA and WNBA teams fulfills a lifelong dream, the head of the publicly traded wholesale mortgage company plans to remain in the Detroit area after the deal is completed.

Investor whims and secondary market conditions make any pivot away from fixed-term products a riskier proposition for nonbanks, mortgage advisory group Stratmor said.

The former college basketball player, who owns 94% of the Detroit-area mortgage lender, is said to be paying a record $4 billion for the NBA team.

The bill will require the agency to codify the use of desktop appraisals.

The firm said it would still originate and service loans out of the office where the cost-cutting measures will occur.

The real estate company said it spent over $500 million in the last 10 years on its advertising campaign.

The two companies will bring close to 60 new employees to the Philadelphia-based lender.

Among other breaches of contract, workers allowed their future employer to store equipment in their current offices in anticipation of their conversion, the complaint claims.

A federal court also recommended sealing the defendant's corporate ownership information because of its concerns about identifying private investors.

The plunge in mortgage volumes 2021 highs led to reduced business for insurers, while growing acceptance of attorney-opinion letters pose a greater competitive threat.

The uptick in the 60-day-plus metric could reverse the bulk of the decline that occurred between 2019 and 2021.

The laws dictating advance notice of mass terminations include various exemptions for employers and suggest employees seek any recourse through legal action.

The cut occurred across departments and included the dismissal of the company's head of mortgage.

A special-purpose acquisition company is merging with a bank as its affiliated startup still lacks its own national bank charter.

The depository joins other mortgage players small and large in exiting the space amid the market's significantly reduced activity.

The California-based non-QM lender plans to continue onboarding "as many more Athas employees as [they] possibly can," the company's president said.

The deal will close for $10 million in cash, plus the right to purchase nearly 33.9 million shares of common stock.

The mortgage company, despite its nonpayment, still had its logo on a stock car and requested special access for its guests at an October race at Talladega Superspeedway in Alabama, the complaint said.

The company reported a net loss of $84.1 million in the third quarter and blamed the performance on interest rate hikes, inflation and supply chain woes.

By the end of the second quarter of 2022, over 45% of Black and Hispanic white applicants were rejected because of elevated DTI largely caused by rising rates, the Consumer Financial Protection Bureau said.