Originations

The battle between the industry giants over exclusive listings is the latest tussle in the space beset by infighting following last year's major rule changes.

The New Jersey-based mortgage lender said it purchased Florida Funding, which has originated nearly $600 million in loans since it was founded in 2017.

The 30-year fixed rate stayed within a narrow range throughout most of July, with forecasts likely to leave the housing market "stuck," said one economist.

New homebuyers found mortgages more affordable last month amid growing supply and softer prices nationwide, new data from the MBA finds.

Still, Redwood Trust lost $100 million on a GAAP basis for the period, a result of its previous decision to pivot to a scalable operating model in mortgages.

The uninspiring mortgage numbers come a week after the Mortgage Bankers Association downgraded its yearly origination forecast over economic uncertainty.

The company identified opportunities and challenges amid market disruption in the quarter and revealed expansion in some mortgage-related business lines.

As high interest rates make refinancing impossible for many homeowners, increasing numbers of them are turning to HELOCs and home equity loans for cash.

Rithm Capital said it is focused on optimizing Newrez's potential to support the full business, pointing to opportunities in servicing and non-agency lending.

Community banks could be the answer to increase the supply of non-agency mortgage products in the secondary market, said Steve Thomas of FutureWave Finance.

Numbers on use and performance point to potential for nonpublic insurers to take on a greater role but also suggest there are limits to it, Fitch Ratings found.

Mortgage profits improved on both a quarterly and annual basis, but leaders said low housing affordability and industry competition remain obstacles to growth.

The sale of SIMPL marked a natural evolution of the software platform that will allow it to reach its full potential, one of its developers said.

Fannie Mae also foresees more home sales than it did in June, but the Mortgage Bankers Association reduced its origination projections for 2025.

Contract signings on new single-family homes increased 0.6% to an annualized rate of 627,000 last month, according to government data released Thursday.

The overall 2025 average customer service satisfaction score for servicers is 131 points below that of mortgage originators, J.D. Power said, 596 versus 727.

The agreement with D2 Asset Management doubles the firm's previous commitment to Unlock, as current economic trends provide momentum for the growing sector.

Rocket Companies confirmed it had reduced its workforce following the completion of its Redfin merger. The company also plans to discontinue Rocket Card on Sept. 8.

Sales of previously owned US homes fell in June to a nine-month low as potential buyers continued to bristle at record prices and high borrowing costs.

Mr. Cooper's Q2 profit surged on servicing gains, despite missing estimates, as it preps for Rocket deal and eyes MSR growth with new client wins.