When Rocket’s acquisition of Redfin could pay off; PennyMac sponsoring Team USA at Olympics; TransUnion brings on verification tool from Truework; Eastside Distilling now Beeline Holdings, a mortgage company.
Interest rates tick up, mortgage applications slow near the end of September and refi rate locks spike during the month; Annaly turns to Rocket for subservicing and retention; Fairway touts returning employees; mortgage tech developments; SitusAMC sells loan insurance entity.
Philadelphia-based Republic Bank focused its mortgage production on jumbos with below-market rates. The bank also held agency MBS that lost value as interest rates increased.
A new research paper finds that mergers between real estate agencies and lenders can help boost origination market share but can also cost borrowers more in the long run.
Two large nonbank retail lenders took losses in the fourth quarter, with officials stressing that better days are ahead. Guild is growing through M&A while loanDepot is reducing its staffing.
The company estimates mortgage technology segment revenue growth in the low to mid-single-digit range this year. The segment boosted revenue by 17% in 2023.
Citizens Bank left the wholesale channel amid weak margins; Mr. Cooper’s cyberattack recovery includes large expenses for borrower services; new leader at broker group; Consolidated Analytics acquires Real Info; customer relationship management tool with artificial intelligence for loan officers.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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