United Wholesale Mortgage faced a minor setback in its quest to have brokers account for 50% of mortgage originations. Both the retail and correspondent channels gained market share in the second quarter. (Includes six data tables.)
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Federal regulators are set to re-propose Basel III capital requirements for large banks. Federal Reserve Vice Chair Michael Barr will recommend eliminating a proposed 20% risk-weighting add-on for mortgages.
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Nonbank originations in the primary market appear to be on the upswing with just over three months to go in the year. That’s good news for warehouse providers, but another financier is departing. (Includes data table.)
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While trade groups want the CFPB to update Regulation X’s mortgage servicing standards, a recent proposal from the CFPB received mixed reviews.
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Home equity investments allow homeowners to receive cash in exchange for a share in home price appreciation. Activity in the sector has grown to the extent that there was a conference dedicated to HEIs last week.
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Rocket Mortgage is taking steps to boost its market share and production of purchase mortgages. That includes an effort to increase wholesale lending.
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Believing in its prowess as a servicing recapture expert, Rocket Mortgage is itching to buy MSR packages. In other M&A news, a distillery wants to enter the origination business. Think of the cross-selling opportunities!
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Harris reiterates housing plan at debate; Trump vows to prohibit mortgages for undocumented residents; CFPB plans open banking rule for mortgages; Rocket to rebrand.
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