“There’s probably more capital out there than what can truly trade on the MSR side,” said Chris King, a senior vice president of MSR channels at Rocket Mortgage.

Redwood has begun marketing one expanded-credit MBS and one jumbo MBS.

An Ohio appeals court ruled that a lower court erred in granting Rocket Mortgage summary judgment in an employee discrimination lawsuit.

Austin Niemiec, chief revenue officer at Rocket Mortgage, will now head the lender’s wholesale channel as it looks to expand partnerships with brokers.

The lender accused Sharp Loan of concealing borrowers’ debts on three loan applications. Rocket claims undisclosed loans were facilitated by Sharp with United Wholesale Mortgage.

The non-agency product has gone from a niche offering to mainstream, with Rocket becoming the latest prominent lender to offer DSCR loans.

Refi activity at United Wholesale Mortgage and Rocket Mortgage in the third quarter overshadowed any competing lenders.

Rocket Mortgage claims it had no authority to correct the alleged discriminatory appraisal connected to a refinance application. The lender said it expects to be vindicated.

PennyMac, the largest correspondent lender in the industry, will begin offering non-qualified mortgages later this month. The move could be a major boost for the sector.

Impairment rate on securitized non-QMs rises in May; Rocket offering bridge loans; architecture firm to acquire non-QM lender; Chimera unit aggregating HEIs for securitization.