Originations

The total compensation of the highest paid CEO among the largest nonbank mortgage lenders in the country was $30.3 million in 2023, up by nearly 300% versus 2022.

Coming off of what was considered a weak start to the spring season, mortgage applications for newly built homes rose 22% over the prior year, the Mortgage Bankers Association said.

The digital lender increased its marketing spend in the first quarter of 2024, with the ultimate goal of "Uber-izing the loan officer."

Rocket Mortgage entered into an agreement with the Department of Housing and Urban Development and will pay the consumers $65,000 to resolve the matter.

The digital lender also agreed with a former executive to drop her lawsuit accusing the company of misleading investors.

For the first time since the Federal Reserve started raising short-term rates two years ago, the number of home purchase mortgages locked rose on an annual basis, Optimal Blue found.

A good compensation package is a key recruitment and retention tool, but the agreements have to be sustainable to be successful.

The publicly traded title holding companies all had stronger earnings as the mortgage market improved from one year prior.

The San Diego company was back in the black with a net income of $28.5 million in the first quarter of 2024, up from a net loss of $93 million the previous quarter.

Fannie Mae's tool, used by originators to determine income levels for self-employed borrowers, aims to help them avoid potential underwriting errors, the government-sponsored enterprise said.