Government lending accounted for a rising share of first-lien originations in 2022 largely by taking in higher-risk loans. The steepest decline in the fourth quarter was in conventional-conforming production. (Includes two data charts.)
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The MSR sales market is starting to firm up a bit — and just in time. A handful of large packages are available, including two from Wells Fargo and one from a large nonbank. But will these deals get done?
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Rocket Pro TPO is offering to compensate brokers trying to break free from market leader United Wholesale Mortgage, whose contracts prevent independents from doing business with two rival table-funders.
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In a surprise move, loanDepot Executive Chair Anthony Hsieh has stepped down, though he remains as chairman. What’s clear: The LD founder is not a happy camper, as insiders sell stock and the firm’s fortunes fade.
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The industry believes a DTI-based LLPA will create quality-control issues for lenders and raise prices for minority and first-time homebuyers.
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Ruling in a redlining case filed by the CFPB against a nonbank mortgage lender, a district court judge said Equal Credit Opportunity Act prohibitions do not extend to prospective applicants.
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Patrick McHenry, R-NC, new chair of the House Financial Services Committee, is viewed as a consensus-maker. But will his politics make it difficult to find common ground with the White House and Senate?
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