Mortgage brokers

Despite a 1Q decline in origination volume, Chairman Mat Ishbia is optimistic for the second quarter, saying the company received 17,000 more submissions in April's higher interest rate environment than it had in February.

What may be a victory in UWM founder Mat Ishbia's eyes is a loss for borrowers, brokers and the free market in the long term, writes the co-founder of CASE, Consumer Action for a Strong Economy.

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.

United Wholesale Mortgage's new rule, which forbids brokers from doing deals with two competitors, has brought extra attention to its smaller rival.

Mortgage brokers are telling the company that they "are looking for another large source," according to President and CEO Willie Newman.

Rocket Pro TPO EVP Austin Niemiec calls this the start of the slippery slope, but UWM's Mat Ishbia responds he isn't being aggressive

But the move could have legal repercussions from a competitive standpoint.

The expansion of borrower data collected in the new URLA upends an industry standard and lenders are experiencing some growing pains.

The mortgage brokerage franchisor added 30 operating offices and had its best year yet for unit sales.

2020’s mortgage employment numbers proved to be slightly higher than previously estimated when reconciled with the Bureau of Labor Statistics’ annual business census.

The move to a remote work model is a long-term, technology-driven transformation, which was well underway prior to the pandemic and will continue long after the pandemic, Matthew VanFossen and Taylor Stork, members of the Community Home Lenders Association, argue.