Mortgage brokers

While the product was hard to find after the start of the pandemic, the Consumer Financial Protection Bureau’s recent changes to Appendix Q are giving a pair of large wholesalers the chance to offer it as a qualified mortgage.

The company, like many publicly-traded nonbanks, is looking for ways to address the downward pressure that a battle between two large competitors is putting on the wholesale channel’s profitability.

The company touted its investments in the wholesale channel while also reporting a slight quarterly drop in overall originations and gains on sale during an earnings call this week.

Fluctuating rules are redirecting some government-related loans to a disparate private market.

United Wholesale Mortgage set off a brawl in the press when it forbade brokers from doing business with Rocket and Fairway. As a small group of brokers pursue legal action over the ultimatum, experts weigh in on whether the spat is benefiting the wholesale channel.

This is the first deal that serial acquirer FOA has announced since it went public on April 5.

The suit, filed in the U.S. District Court for the Middle District of Florida, seeks class action status.

Building timelines are finally stable enough for nonbank American Financial Resources to return to the conventional market following the pandemic-related disruption, according to a company executive.

But UWM says the provision is designed to protect against a broker double-locking the loan and is used by other lenders.

The acquired platform, while remaining stand-alone, will have integrations with Black Knight's Empower loan origination system for mortgage lenders.