The deal is expected to open up "substantial funding capacity" for Los Angeles-based BARH Dunmore, which launched in 2021.

Staffing cuts affected employees in the reverse-mortgage lender's retail and corporate units, the company confirmed.

Sandro DiNello, who briefly led New York Community Bancorp amid turmoil earlier this year, is staying on the company's board. But Joseph Otting, the company's recently installed CEO, is taking on the executive chairman position.

At the end of 2024's first quarter, the top five lenders had an average origination volume of more than $7 billion.

Test your knowledge of the biggest mortgage headlines, from the "zombie property apocalypse" to fraud. No. 2 pencil not required!

The trade group says it'll fight to keep real estate and business provisions intact in a pivotal debate over the expiring Trump tax cuts.

Following the closing of the transaction in the third quarter, Michael Isaacs, the CEO of GO Mortgage, will take the helm of the combined company.

The title insurance giant was one of several major mortgage players to suffer a hack late last year.

The announcement comes after weeks of criticism from the bureau's director over fees including title insurance and credit scores.

The billion-dollar originators are disputing Waterstone Mortgage's alleged raiding of 60 employees two years ago, which led three offices to shutter.