Mr. Cooper Group on Tuesday recorded mixed earnings for the second quarter that fell short of matching year-ago results and consensus estimates but were considerably stronger than the bottom line in the previous fiscal period. Servicing, including a $30 million mark net of hedges, was the key driver of the second-quarter’s $198 million profit. That […]
Mr. Cooper profit rises with Rocket deal in focus Read More »
A new lender says it can give a company’s employees up to 75 basis points off their interest rate through its mortgage benefits program. Multiply Mortgage, founded in 2022, says the average worker utilizing its perks saves up to $5,700 per year, relative to home loan offers they were comparing the offer to. The broker
New lender touts big mortgage perks for workers Read More »
Pennymac enjoyed a more productive second quarter, although it suffered a financial hit from hedging results over early spring rate volatility. The Southern California-based mortgage giant reported $136.5 million in net income for the second quarter, missing a Standard & Poor’s Capital IQ consensus estimate of $152 million. The net income figure however was up
Pennymac profit jumps 79% despite hedge losses Read More »
Douglas Elliman, the nation’s sixth-largest real estate brokerage, is the latest firm to unite home sales and financing under one roof. The company has entered into a “strategic alliance” with Associated Mortgage Bankers, Ronkonkoma, New York, to create Elliman Capital. “By bringing mortgage services in-house, we’re creating an unprecedented level of convenience and oversight to
Douglas Elliman forms mortgage venture with AMB Read More »
The share of mortgage loans with issues that could indicate fraud declined in the second quarter of 2025, although it is still above levels seen in the second half of last year, Fundingshield’s Wire Fraud Analytics report said. During the period, nearly 46.63% of transactions analyzed in an $81 billion residential, commercial and business purpose
Existing lender controls lacking to detect mortgage fraud Read More »
For-sale housing inventory is sitting at its highest point in years despite a pullback in new listings, and the contrasting numbers indicate long-standing affordability challenges are still impacting the market, leading real estate brokerages found. Approximately 1.36 million homes were on sale in June, the greatest volume since late 2019, according to the latest data
What’s behind the increase in housing inventory? Read More »
US housing starts rebounded in June on the strength of multifamily building, while weakness in the larger single-family market pointed to ongoing struggles with bloated inventories and affordability constraints. New residential construction increased 4.6% to an annualized rate of 1.32 million homes last month, picking up after an almost 10% slide in May, according to
Housing starts rebounded in June on apartment construction Read More »
An Indiana loan officer faces a dozen felony counts after being accused of altering borrower information while working as an originator for two different lenders. State officials filed charges against Laura Mickler in Delaware County circuit court, located in the Central Indiana town of Muncie, in early July. She faces four felony counts each of
Former mortgage loan officer faces fraud, forgery counts Read More »
A California borrower is accusing Wells Fargo of concealing for more than a decade that it improperly charged customers certain origination-related fees. The issue surfaced in 2022 when the bank sent “cryptic notices” to borrowers stating it had incorrectly assessed float fees during the loan origination process, according to a federal lawsuit filed in California
Wells Fargo sued for not disclosing fees during loan origination Read More »
A little more than a month after it agreed to sell all of Title365 to Covius Services, Blend Labs is entering into “an expanded partnership” with Doma to use its artificial intelligence-powered instant decisioning technology. “This partnership with Doma reinforces our core focus: delivering innovative, software-driven solutions that create real value for our customers,” said
Blend, after Title365 sale, expands partnership with Doma Read More »