The first year of Otting's tenure as the New York lender's CEO brought substantial change, but the job isn't done. His goal: to build a powerhouse, profitable regional bank.

Regulators should approve the deal because post-merger, the servicing market remains fragmented and the mortgage origination business is even more dispersed.

The global asset manager wanted access to the smaller company's residential mortgage credit strategies, which will become available to a larger investor base.

The deal was highly vetted with regulators following the publicly traded company's failure to obtain approval in a past agreement, an executive said.

The deal, expected to close by the end of 2025, will place Mr. Cooper CEO Jay Bray as president and CEO of Rocket Mortgage.

Here's what mortgage professionals should know about Rocket's rebranding, its $1.75B play for Redfin, dropped CFPB lawsuit and more.

The mortgage lender claims its Georgetown, Texas operations, where Thrive Mortgage was previously headquartered, have been "gutted."

The Mississippi lender said regulators have signed off sooner than expected on its $103.6 million acquisition of First Chatham Bank. The bank's CEO and deal advisers said the speedy approval bodes well for future M&A.

The institution has been downsizing its portfolio to address deposit runoff as it has shed fintech exposures and worked to gain release from a consent order.

Stakeholders predict the future of homebuying will offer two distinct paths: an all-in-one bundle from companies like Rocket Mortgage and the traditional, local homebuying experience.