United Wholesale Mortgage, the dominant conventional-conforming player in the broker channel, increased its production by 32.9% from the first to the second quarter.
Kroll Bond Rating Agency looked at about 220,000 loans to more than 300,000 borrowers to assess the impact of going from tri-merge credit scoring to bi-merge.
“You’re going to tell them to pound sand? Well, they’re going to say, ‘Okay, well we’re going to suspend the agreement, we’re not going to take any more loans from you,’” said James Brody, a senior litigation partner at the law firm of Garris Horn.
Rocket Mortgage was the top GSE seller in the direct channels in 23 states in the first six months of 2023. United Wholesale Mortgage was the leader in 12 states.