Rithm Capital will no longer use Onity Group’s servicing subsidiary, PHH Mortgage Corp., as the subservicer of a $33 billion portfolio primarily composed of pre-2008 loans — ending an agreement that has lasted nearly a decade. Onity, which released its third-quarter earnings on Thursday, said it was notified by Rithm on Oct. 31 of its […]
Rithm drops Onity as subservicer on $33B portfolio Read More »
The way that mortgage lenders assess credit risk is undergoing its biggest overhaul in decades as the Federal Housing Finance Agency (FHFA) is preparing to roll out a new framework that allows lenders to use two scoring models — FICO 10T and VantageScore 4.0. FHFA Director Bill Pulte and the Trump administration have voiced support
Mortgage credit model overhaul: FICO 10T and VantageScore 4.0 Read More »
Guild Holdings Co., the parent company of Guild Mortgage, announced its Q3 2025 earnings on Wednesday afternoon, posting a net revenue of $307.4 million that compared favorably to figures of $279.4 million in Q2 2025 and $159.3 million in Q3 2024. Guild’s net income for the third quarter was $33.3 million, compared to $18.7 million in
Guild sees Q3 revenue surge to $307.4M ahead of Bayview transaction Read More »
The mortgage industry largely supports changes to the loan-level price adjustment (LLPA) matrix but remains divided on priorities, with a full overhaul unlikely amid a potential stock offering of Fannie Mae and Freddie Mac. Two weeks ago, Federal Housing Finance Agency (FHFA) Director Bill Pulte said he had tasked Barry Habib — the MBS Highway
Mortgage industry backs LLPA changes but is divided over priorities Read More »
The Federal Reserve delivered a 25-basis-point cut to its benchmark interest rate on Wednesday, setting the target range at 3.75% to 4%. The move, which brings the federal funds rate to its lowest level in three years, comes amid a softening labor market and inflation pressures. Monetary policy watchers expect another cut in December, which
Fed rate cut could lower mortgage rates further Read More »
The Consumer Financial Protection Bureau (CFPB) on Wednesday issued a final rule to immediately rescind the nonbank registry rule and a proposal to create a registry of nonbank contract terms and conditions. The decision was applauded by mortgage trade groups. The nonbank registry rule was published in the Federal Register in July 2024 and set
CFPB drops nonbank registry rule, citing cost burden Read More »
Optimal Blue has responded to a class action lawsuit filed against it and 26 mortgage lenders, calling the claims “baseless” and “frivolous” and vowing to fight the lawsuit “all the way through.” “Optimal Blue is aware of the complaint filed against it, Black Knight, Inc., and many of the largest mortgage lenders, alleging a purported
Optimal Blue comes out swinging on price-fixing lawsuit Read More »
A growing number of economists believe that the Federal Reserve is close to announcing the end of its quantitative tightening (QT) program — a move that could have wide-reaching implications for the mortgage industry. Over the past few weeks, central bank officials have signaled they are prepared to wind down the policy aimed at shrinking
Fed prepares to pivot balance sheet, with potential ripple effects for mortgages Read More »
The mortgage market remains largely resilient — with delinquencies and foreclosures still below long-term averages — even as performance among Federal Housing Administration (FHA) loans continues to weaken. That’s according to ICE Mortgage Technology’s First Look report on September mortgage performance data. The data, released Friday, show the national delinquency rate — loans 30 or
ICE’s First Look report shows mortgage performance is strong despite FHA strain Read More »
PennyMac Financial Services Inc. plans to grow organically and in a “capital-light” fashion amid a wave of consolidation in the mortgage industry. If the macroeconomic environment remains supportive, the company expects to deliver solid returns on equity to investors through 2026. “While there can be some fluctuations in our results due to typical seasonality, if
PennyMac’s strategic growth amid mortgage industry shifts Read More »