In total, 84 producers from mortgage lenders including Summit Funding and Movement Mortgage have transitioned to Fairway Independent Mortgage.

But the mortgage unit of Intercontinental Exchange narrowed its quarterly losses and touted the addition of several new customers this year in its earnings call.

The company's branches and loan officers will transition to ML Mortgage but operations staff are not part of the deal.

The company, acquired by CrossCountry Mortgage in 2022, discouraged employees from reporting they worked off-the-clock as a means to "save on labor costs."

CRE CLO issuance surged to $45 billion in 2021, a 137% increase from two years earlier, when buyers of apartment blocks sought to profit from the wave of workers moving to the Sun Belt from big cities.

The enterprise was able to improve on its year-over-year number for loan purchases and earnings in the seasonally weak period, but both were down on a consecutive quarter basis.

Plaintiffs seeking class certification claim the bank uses an underwriting system that discriminates against minority mortgage applicants.

Profits in the originations and servicing segment at Newrez drove earnings, while a possible spinoff of Rithm's mortgage operations is still seen as a "work in progress," according to company leaders.

Consolidation has slowed since the pandemic, but UMB's agreement to buy Heartland Financial — the largest deal in three years — is one of several merger announcements in the past two weeks. Talks among other potential buyers and sellers are said to be picking up.

The company's attorneys had previously managed to successfully decertify the class in the seven-year long case, but the decision was reversed last year.