Underwriting

The Chicago-area lender, which at first was able to get the suit quashed, agreed to end the discrimination case by paying a $105,000 fine.

As it gets ready for more competition from VantageScore, the company also did not comment on reports of yet another impending price hike.

The capital markets platform will allow its investor clients to compare non-qualified mortgage rate sheets to their competitors for free.

Backflip, a fix-and-flip and residential transition loan originator, added $184 million in new capital from equity and debt transactions, its second raise of the year.

While rate-and-term refinance locks boomed, the rise in purchases also was telling as it was the first since the Fed started raising rates, Optimal Blue said.

Jay Venkateswaran, business unit head of banking and financial services at WNS Global Services, said the best lenders are preparing now for expectations of increased business at least two quarters in the future.

Activist John Hope Bryant has suggested the 40-year mortgage as a solution to affordability issues for first-time buyers. While it has some support, industry players also note questions about practicality remain.

State housing finance agencies had a resurgent fiscal 2023 and the recent fed funds rate reduction could have a mixed impact on them, Fitch Ratings said.

CV3 Financial Services, started by long-time business purpose lending executive William Tessar, just celebrated one year in business and topping the $1 billion mark.

While still historically low, some of the changes in the first quarter appeared "troubling" and warranted extra scrutiny, according to Aces Quality Management.