The Mortgage Industry's Top Earner in 2023? So Far, It's... April 15, 2024 Paul Muolo Among Mr. Cooper’s other top executives, Vice Chairman and former President Christopher Marshall was paid $8.6 million in 2023.Read More
M&A Activity Largely Focused on Servicing April 9, 2024 Paul Muolo “The producers move over to a new firm and that’s it — that’s the M&A activity,” said David Fleig, who runs MorVest Capital, a servicing advisory firm.Read More
Short Takes: Rocket Speeds Loan Process With AI / AI Officer at FHFA / Pretium Affiliate Wins NPL Auction / CMBS Investor Changes Hands April 9, 2024 Brandon Ivey Rocket plans to offer its AI platform to other companies later this year.Read More
Brokers Add Jobs, Mortgage Bankers Cut April 8, 2024 Paul Muolo Roughly 106,400 mortgage workers have been handed pink slips since business peaked in the spring of 2021...Read More
UWM, Guild, Mr. Cooper Add Employees as Nonbanks Shrink April 3, 2024 Brandon Ivey United Wholesale Mortgage had 6,700 employees as of the end of 2023, up 11.7%, the largest increase among the lenders in the analysis.Read More
Better Shifts to Using Commission-Based LOs March 28, 2024 Brandon Ivey Previously, Better’s LOs weren’t paid commissions and the lender focused on using technology to get loan applicants through the mortgage process.Read More
Short Takes: DOL Fine for Emotional Damages / UWM’s Margins Expected to Improve / Growth in Mortgage Payments Outpaces Applicants’ Earnings / Trees Saved From Digital Closings March 28, 2024 Brandon Ivey The fine levied by the Department of Labor for emotional damages followed a whistleblower complaint involving PrimeLending.Read More
Almost Three Years After Bank Bought AmeriHome, More Departures March 25, 2024 Paul Muolo Roughly three years ago, AmeriHome, a nonbank planning an IPO, was sold to Western Alliance Bank for $1 billion...Read More
Freddie Mac Taps President as Interim CEO March 18, 2024 Dennis Hollier If Hutchins becomes the "permanent" CEO of Freddie, the change, ironically, would result in a pay cut...Read More
Short Takes: Foreclosures Decline / MSR Offering / New CEO at AmeriHome / Details on Fannie’s NPL Sale March 13, 2024 Brandon Ivey and Paul Muolo Foreclosure activity declined by 1% on a monthly basis in February.Read More
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