Rocket Companies scored a win in a derivative lawsuit alleging insider trading by its primary stakeholder, Rocket Holdings, Inc. (RHI), an entity owned by founder and chairman Dan Gilbert, and its board of directors. The lawsuit stemmed from two complaints, one filed by the Doris Shenwick Trust in November 2021 and another by investor Christopher […]
Judge dismisses insider trading suit against Rocket’s Dan Gilbert Read More »
Sometimes a Tuesday is just a Tuesday for mortgage rates. In the present week, any day is capable of generating some volatility due to one of several economic reports on the calendar. This isn’t always the case, but the first week of any given month is action-packed when it comes to data. Econ data is
Uneventful Day For Mortgage Rates Read More »
This story has been updated with an analyst’s comments. Wells Fargo has finally broken free from the regulatory shackles that have constricted its growth for more than seven years. The Federal Reserve announced Tuesday that it has lifted the $1.95 trillion asset cap it imposed on Wells in 2018. The cap’s termination is a watershed
Wells Fargo sheds asset cap, ending seven years of handcuffs Read More »
Mortgage software provider Dark Matter Technologies is making electronic closing capabilities available on another of its loan-origination systems through a new agreement with Wolters Kluwer. The technology firm will offer e-closings on the Nova LOS platform, a system it added to its product suite alongside its primary Empower origination system in the latter half of
Dark Matter to offer e-close capabilities through Nova LOS Read More »
Rocket Cos. is offering a combined $4 billion in senior notes to pay some of Mr. Cooper’s ten-figure debt in anticipation of the major acquisition. The Detroit-based fintech said Tuesday it wants to sell $2 billion of senior notes due 2030 and an additional $2 billion of senior notes due 2033, unconditionally guaranteed by Rocket
Rocket plans to raise $4B to pay off Mr. Cooper debt Read More »
Loandepot announced a new source of funding collateralized by certain cashflows from mortgage servicing rights that will allow it to redeem other similar financing due this October. The private offering of term notes secured by MSRs has an aggregate principal balance of $200 million and is somewhat similar to other financing vehicles other large nonbanks
How Loandepot managed some MSR financing maturing this year Read More »
Feds have terminated a consent order against a mortgage lender feds accused of “systemic racism” in the Philadelphia region. A federal judge Monday approved the government’s request to terminate its deal with Trident Mortgage, just over two years before it was set to expire. Attorneys with both the Consumer Financial Protection Bureau and the Department
Feds close $22 million redlining order with lender early Read More »
Acting Comptroller of the Currency Rodney HoodBloomberg News WASHINGTON — Acting Comptroller of the Currency Rodney Hood confirmed that the Trump administration plans to revise capital requirements for banks, aiming to ease what he described as excessive regulations that could constrain credit. The remarks, delivered to a crowd at the U.S. Chamber of Commerce’s Capital
Trump-era OCC eyes lighter capital rules to boost lending Read More »
Signs are emerging that the Trump administration may be less willing to give up control of mortgage giants Fannie Mae and Freddie Mac than investors have bargained for, as policymakers scrounge for ways to close US budget gaps. In recent social media posts, Donald Trump said he’s exploring the sale of new shares in the
US signals interest in using Fannie, Freddie to bolster budget Read More »
Enjoy complimentary access to top ideas and insights — selected by our editors. The top five lenders in our ranking had an average retail mortgage origination volume of more than $5 billion at the end of the first quarter of 2025. While most lenders saw a decrease in business between the fourth quarter of 2024
20 banks with the largest retail mortgage volumes in Q1 Read More »