Originations

The change comes as the battle with rival United Wholesale Mortgage reaches a fever pitch and analysts speculate that more changes at the top could be coming.

Average housing costs have surged over 40% since 2019, outpacing 15% in wage increases, the National Association of Realtors said.

The company reportedly hired Truist to broker the loan origination system, which observers have been saying all along would have to happen.

While reverse mortgages allow older homeowners the opportunity to draw on home equity with minimal risk, problems arising from flaws in program structure are causing headaches for borrowers and issuers alike, according to recent reports.

A decline in jumbo products led to overall tightening, as conforming and government-sponsored loan categories measured in the Mortgage Bankers Association's index were unchanged from December.

Both Zillow and Black Knight Optimal Blue recorded significant increases, but the Freddie Mac survey only reported a 3-basis-point rise.

The regulator said it is a violation of anti-kickback rules to present lender results based on their payment to the platform rather than criteria that serves the potential borrower.

The company's mortgage operations posted a $24 million pretax profit thanks to servicing, while loan production saw a loss.

The company's controlling shareholder wants to replace former HUD Deputy Secretary Pam Patenaude on its board with title company executive Steve Ozonian.

The publicly traded acquirer is looking to grow market share by selectively purchasing companies to beef up its influence in certain regions.

Refinances surged 18% compared to the prior week and purchases 3%, but growing loan amounts signal still-limited affordability.

Virginia and Montana both introduced new bills in the past month, potentially joining several other states in enacting policies that would increase business opportunities for lenders.

Adding pricing considerations tied to debt-to-income ratios, which frequently fluctuate, are destined to create problems with borrowers and internal operations, the Mortgage Bankers Association wrote.

The Fannie Mae Home Purchase Sentiment Index rose for the third straight month, but concerns about affordability still weigh heavily on the minds of many Americans.

A series of recent studies offer a view into the dynamics that will impact home sales in 2023.

More than half of borrowers paid 0.5 points or more to cut their interest rate for the life of the loan, while just 3% chose the short-term option, Black Knight said.

It's less expensive to rent in 45 of the nation's 50 largest metros, a ratio that has grown significantly since the end of 2021, according to Realtor.com.

In just the first few weeks of the year at least 10 transactions have taken place.

Servicing was strong relative to some analysts' estimates, but thin margins and higher-than-expected expenses in originations reduced earnings for the fiscal period.

Industry headwinds led numbers at the software and data provider downward at the end of the year, but company leaders said the unit is positioned well for a market snapback.