Mortgage-banking income reported by nonbank lenders nearly tripled in the fourth quarter to $3.86 billion. The gain came from massive markups of MSR values thanks to rising interest rates. (Includes data table.)
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After achieving profitability in the third quarter, loanDepot returned to the red in the fourth quarter. And the CEO brought on to turn the nonbank’s fortunes around three years ago is departing, with company founder Anthony Hsieh taking a larger role.
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House Republicans are considering ways to relax certain state and local requirements to encourage the construction of more homes at a lower cost.
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Faced with an average 14% increase in insurance premiums last year, homeowners are electing higher deductibles and switching providers to ease their financial burdens, while others are weighing moving.
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For many years, when households couldn’t afford to pay all their bills, they prioritized their auto loan payments. But as home prices have soared, mortgage payments have taken precedence.
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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.
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Christopher Stanley, a security engineer at SpaceX, is the first member of Elon Musk’s Department of Government Efficiency to join a GSE board.
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