Rocket Companies and Redfin on Thursday unveiled a Super Bowl commercial centered on community and the importance of neighborliness, marking the companies’ first shared national ad and Redfin’s first appearance in a Super Bowl broadcast since the company’s founding 20 years ago. The 60-second spot, titled “America Needs Neighbors Like You,” will air during the […]
Rocket, Redfin air first joint Super Bowl ad Read More »
Rocket Mortgage has sued a California mortgage brokerage and one of its executives, alleging they knowingly submitted fraudulent loan applications that concealed borrowers’ debts and caused financial losses after the loans were sold to investors. In a complaint filed Tuesday in the U.S. District Court for the Eastern District of Michigan, Rocket Mortgage said Sharp
Rocket Mortgage alleges $194,000 loss in broker fraud lawsuit Read More »
Mortgage Bankers Association (MBA) President and CEO Bob Broeksmit took the stage at the trade group’s IMB26 Conference in Florida to say that its members and he himself have “just been gaslit by the trade association that represents the credit bureaus.” The MBA has proposed that lenders submit a single-bureau credit pull for loans sold
MBA’s Broeksmit says credit bureau trade group “gaslit” mortgage industry Read More »
Austin Niemiec will take the helm of Rocket Pro following the departure of Dan Sogorka, according to people familiar with the transition who spoke to HousingWire. Niemiec will retain his title as chief revenue officer of Rocket Mortgage but will focus exclusively on the broker and correspondent channel through Rocket Pro. He will report to
Austin Niemiec to lead Rocket Pro as Dan Sogorka departs Read More »
State regulators and consumer advocates are pushing back against two proposals from the Office of the Comptroller of the Currency (OCC) that would expand banks’ authority over escrow accounts and assert that federal law preempts state rules that govern these accounts. In a joint letter, the Conference of State Bank Supervisors (CSBS) and the American
OCC escrow plan opposed by regulators, consumer advocates Read More »
Mortgage lenders are seeing loan defects stabilize after several volatile years, but shifts in interest rates and loan volumes continue to expose weaknesses in quality control (QC), according to ACES Quality Management CEO Trevor Gauthier and chief operating officer Phil McCall. In an interview with HousingWire, Gauthier and McCall highlighted staffing cuts, refinance surges and
Mortgage defects stabilize as lenders face quality control issues Read More »
President Donald Trump announced on Thursday evening that he will name his choice for the next Federal Reserve chair on Friday morning. At publication time, prediction sites Polymarket and Kalshi had Kevin Warsh as the frontrunner, putting his odds of being chosen at more than 85%, which sent the 10-year yield higher. CNBC reported that
Trump to announce new Fed chair Friday, sending the 10-year yield higher Read More »
PennyMac Financial Services reported its full-year and fourth-quarter 2025 earnings on Thursday, telling investors and analysts that higher mortgage production helped offset pressure on servicing income from increased prepayment activity. The California-based company posted a solid quarter and a strong 2025, but its growth in loan production is doing the heavy lifting. Servicing profitability is
PennyMac reports Q4 profit of $107M as origination growth offsets MSR runoff Read More »
The class-action lawsuit filed this week against Rocket Companies and its subsidiaries, which alleges violations of the Real Estate Settlement Procedures Act (RESPA), has drawn heightened attention from the mortgage industry as a wave of mergers and acquisitions accelerates the push toward vertically integrated business models. Legal experts have described the case as “unique,” saying
Rocket RESPA lawsuit is unique but faces early legal hurdles, attorneys say Read More »
Paul Fiore enjoys taking on new challenges, something he’s done before during a lengthy stint at American Advisors Group (AAG) and pit stops at Finance of America and Smartfi Home Loans. Fiore’s reverse mortgage industry journey took another turn recently after he joined California-headquartered HighTechLending (HTL) as its vice president of sales and branch production.
Paul Fiore on making HighTechLending a bigger mortgage player Read More »