Ziggy Jonsson, SVP of engineering at Better, talks about the shop's technology and what the future holds for AI innovation.

The bank faced credit setbacks in the nation's capital and margin pressure this year. But it made a series of hires to reduce risk and diversify its loan portfolio, preparing for a new era of demand as the industry awaits interest rate cuts.

Homestar Financial began winding down operations last fall, but its capabilities as a Ginnie Mae issuer was attractive for Irvine, California-based OCMBC.

A and N Mortgage claims the value of customer data stolen by ex-employees exceeds $1 million.

The deal will create liquidity for the lender's shareholders while giving the distillery access to the mortgage company's sales tools, the firms said.

After hikes pinched profits across the industry, a move in the opposite direction could be the start of a more promising trend. But bankers caution that the immediate effects of a September rate cut figure to be small.

Other estimates suggest nonbank mortgage employment grew in July as the industry cautiously added staff to handle incremental growth in demand for loans.

The lender is asking U.S.Tax Court to find IRS adjustments in error and clear the company of any liability or penalties.

The Consumer Financial Protection Bureau said some non-profit hospitals are failing to provide assistance to low-income consumers, while landlords may be illegally charging fees to pay rent through online portals.

Details regarding the settlement are sparse, but will be finalized by Sept. 30, 2024, documents show.

The top five mortgage originators had an average of 162,666 originations last year according to Home Mortgage Disclosure Act data.

Flagstar Bank sued Hometown Lenders for $21 million in 2023, after the lender defaulted on a $60 million warehouse line.

Patrick Harker, the longest serving regional reserve bank president, will leave office in June 2025. Directors at the Fed bank have started the search for his replacement.

REV Federal Credit Union in suburban Charleston, South Carolina, plans to acquire First Neighborhood Bank in West Virginia. It marks the 15th deal this year involving a credit union buying a bank, closing in on 2022's record of 16 deals.

In a little over a month, the company's newly appointed chief strategy officer has built out a six-person strong recruiting team.

In August's roundup of top mortgage news: The Consumer Financial Protection Bureau sides with plaintiffs against Mr. Cooper in alleged "junk fee" lawsuit, updates to 203(k) and more.

The case over a federal investigation is unrelated to the trade group's recent commissions changes.

Borrowers who worked with third party originators last year will save on average over $10,000 over the life of their loan, according to an analysis of public data.

The bureau claimed Newday USA deceived homeowners by failing to disclose the costs associated with a cash-out refinance when compared alongside their existing mortgages.

While lower rates have piqued borrower interest, most are waiting for some key events to pass before buying or refinancing, originators said.