Nonbank

The lending giant's filing reveals what the company's internal structure will look like going forward.

A Detroit-based company, which owns Rocket Mortgage and Quicken Loans, listed the size of its upcoming offering in filing as $100 million, a placeholder amount that will likely change.

While the new employment numbers bode well for housing and loan performance in the short term, concerns abound regarding how the unemployment rate and furloughs could affect prospects for the business later.

The gap between Black and white homeownership rates is extremely wide in some areas, and it could get worse if the industry fails to proactively address local and national inequities.

Nonbank servicers have been seeking more sources of cash since the coronavirus disrupted markets and elevated forbearance rates. These are some strategies they may be able to use.

The government-sponsored enterprises had been considering tightening counterparty requirements for nonbanks, but in light of COVID-19's spread, they've reconsidered that.

The Mortgage Bankers Association points to better lender diversity and a stronger housing finance network as reasons for its support.

Nonbank mortgage hiring inched down when overall employment plunged in April. The subsequent recovery in overall jobs suggests the housing-finance industry is still bearing up well despite coronavirus-related strain.

Independent mortgage banks started 2020 strong after three quarters of high profits, according to the Mortgage Bankers Association.

Embrace will originate and close home loans in its own name for clients of the wealth management firm.