Rithm Capital said it is focused on optimizing Newrez's potential to support the full business, pointing to opportunities in servicing and non-agency lending.

Mortgage profits improved on both a quarterly and annual basis, but leaders said low housing affordability and industry competition remain obstacles to growth.

The sale of SIMPL marked a natural evolution of the software platform that will allow it to reach its full potential, one of its developers said.

A "large institutional investor" will provide funding to assist Rithm in acquiring as much as $1.5 billion worth of residential transition loans.

The company has agreed to sell the MSRs on Aug. 1. Its merger with Mechanics Bank is set to close during the third quarter of this year.

The merger of the firm's lending arm and Figure Markets is a reaction to a thawing regulatory environment.

The Indiana loan officer was previously sued by Ruoff Mortgage for fraudulent originations it estimated would cost the company over $1 million to repurchase.

A Wells Fargo customer was surprised to receive a "cryptic notice" and a cashier's check from the firm compensating him for float fees charged more than a decade ago. A lawsuit followed.

A spike in the bank's noninterest income powered its better-than-expected net income and revenue in the second quarter.

The VA Home Loan Program Reform Act arrives after the expiration of a previous foreclosure-prevention program sent foreclosure numbers spiking this spring.

The Ocean State is the latest to enact rules prohibiting the agreements that end up tying older homeowners to long-term contracts with real estate brokers.

The Office of the Comptroller of Currency said it will no longer include examinations for disparate impact liability but will still perform fair lending risk assessments on a regular basis.

Dr. Mark Calabria takes on the additional role of chief statistician of the United States; retired Ally Bank executive Diane Morais has joined First Citizens Bancshares' board of directors; MainStreet Bank has promoted Alex Vari to chief financial officer; and more in this week's banking news roundup.

Synergy One Lending's CEO, Steve Majerus, is warning recruiters that if they do not stop spreading lies about his firm, the mortgage lender will take action

The newest addition to the Panorama group of companies aims at offering opportunities to first-time home buyers through wholesale and correspondent channels.

A team of 16 joining Union Home Mortgage's Cincinnati branch closed 996 units and funded more than $260 million in 2024.

Steep trade barriers that were set to go into effect on July 9 have once again been put on pause, giving banks a welcome reprieve, but adding still more pressure and uncertainty on the Federal Reserve and the broader economy.

Lenders and other businesses active in the state also stepped up with large donations and charitable campaigns in the days following the flooding disaster.

California-based Dunmor said it is launching a wholesale division, which will be led by a former Newfi executive.

Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.