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Costco Exits Mortgage Arena

May 12, 2022
Sam Manas
The big-box retailer no longer offers its store members mortgage pricing options or provides lenders mortgage leads.
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Is loanDepot in Play? No Strategic Review Underway

May 11, 2022
Paul Muolo and Brandon Ivey
In trading Wednesday, loanDepot's shares were up slightly on the day after falling to a new 52-week low of $2.00 a unit on Tuesday.
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Consumer Complaints Surge in the First Quarter of 2022

May 11, 2022
Sam Manas
Year-over-year, overall consumer gripes were up 39.7%, but mortgages...
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A 1Q Earnings Gain for Rocket. Reason: (You Guessed It) MSR Mark Ups

May 11, 2022
Paul Muolo
Rocket's MSRs accounted for 25.4% of its asset base at March 31 compared to 16.4% at yearend.
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FHFA Has Plenty to Ponder on Eligibility Proposal

May 11, 2022
Dennis Hollier
SFA raised concerns about how the appropriate net worth, capital and liquidity requirements for seller/servicers are calculated.
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UWM Taps the MSR Markup ‘Well’ and Reports a Strong Profit for 1Q

May 10, 2022
Paul Muolo
UWM anticipates second quarter production of $26.0 billion to $33.0 billion and a GOS of 75 to 99 bps.
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As Volumes Drop, Some Mortgage CEOs Take Home Less Pay

May 10, 2022
Paul Muolo
During the first quarter, Fairway transferred roughly $5.8 billion of mortgage servicing rights to new owners...
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Former Freddie CEO Suggests Some Price Gouging was Occurring During the Pandemic

May 10, 2022
Dennis Hollier
In a recent blog posting, the former Freddie chief used MBA profitability data to make his argument...
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Chopra Testifies on 1071, Overdrafts, Other Issues

May 9, 2022
Sam Manas
In two recent hearings, CFPB Director Rohit Chopra addressed concerns around the Section 1071 rulemaking, the bureau’s junk fees inquiry and other issues.
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Banking Regulators Propose Revisions to CRA Standards

May 9, 2022
Sam Manas
The proposed rule would greatly expand the assessment areas under CRA to include activities associated with online and mobile banking, branchless banking and hybrid models.
Read More
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