The real estate investment trust also announced changes to its Sequoia correspondent platform as it seeks to elevate the unit's branding in 2025.

Ally Financial Inc. will cut jobs, end mortgage originations and consider strategic alternatives for its credit-card business as borrowers have struggled to pay down costly debt.

The acquisition adds proprietary mortgage-origination software to the company's loan operating system, now called LowerOS.

The U.S. will see between 3,000 to 4,000 such organizations begin to form in 2025, representing a jump from the year-end 2024 total.

In his letter of resignation, Federal Reserve Vice Chair for Supervision Michael Barr said an attempt by the Trump White House to remove him could create a "distraction" for the Fed. He plans to retain his seat on the Board of Governors, which expires in 2032.

The Loan Store welcomes a former Flagstar exec as Calque, Proof and Flueid name new chief revenue officers in this roundup of mortgage industry moves.

Bill Ackman, founder of Pershing Square Capital Management, predicts Fannie Mae and Freddie Mac will be removed from conservatorship within the next two years.

Newrez's servicing arm approved an "obviously counterfeit" HELOC request from a bad actor totaling almost $500,000, a complaint claims.

Products belonging to Amynta Group's newly acquired Crum & Forster platform included coverage aimed at protecting mortgage loan portfolios from borrower default.

Central Mortgage Funding failed to adhere to an earlier consent order imposed for using unlicensed mortgage loan originators.

Plaintiffs argue that Mr. Cooper's hefty payment to Alphv hinged on the promise that the criminal organization would delete stolen customer PII.

In multiple 2024 suits filed against mortgage businesses, the plaintiff claims he was never a client, but received messages despite being on the do-not-call list.

Luminate Home Loans closed its Neo Home Loans division in October after it fired leaders allegedly funneling trade secrets to the rival.

Richard "Dick" Parsons, the former Citigroup chairman who died Thursday, is credited with helping the New York megabank survive the financial crisis. Earlier in his career, he led Dime Savings Bank out of the savings-and-loan crisis.

Loan officers say the main reasons real estate partnerships fall through are poor communication and mismatched expectations.

Proceeds from the sale will be used by HomeStreet to pay down Federal Home Loan Bank advances and brokered deposits.

The lender and servicer is spending $9.3 million on security upgrades in addition to its pending $25 million fund for consumers and their attorneys.

Jason Mitchell, the CEO of The Mitchell Group, called the CFPB's lawsuit against both his company and Rocket Homes "a witch hunt."

JPMorgan Chase, Wells Fargo, Bank of America, U.S. Bank and Citi had more than $1 billion in combined first-mortgage loans as of Sept. 30.

The watchdog accuses Rocket Homes and The Mitchell Group brokerage of initiating a plan to generate origination business for Rocket Mortgage.