Rocket Mortgage believes the $1.75 billion acquisition will boost its purchase origination volume and lower the cost of customer acquisitions. It will also add new data to Rocket’s artificial intelligence algorithm.
Market indicators suggest the Federal Reserve could cut rates three times this year while the MBA anticipates only one rate cut. A REIT that invests in agency MBS and servicing is shunning MSR for the moment.
A bill recently introduced in Congress seeks to cap the number of delinquent loans the Department of Veteran Affairs can purchase through the VA Servicing Purchase program annually at 250. Mortgage industry participants strongly oppose the bill.
The Mortgage Bankers Association defended servicers from criticism for the financial incentives they receive from FHA home-retention programs, arguing that the work involved outweighed the compensation.
The chief innovation officer at United Wholesale Mortgage testified at a hearing in Congress this week on housing affordability. Senators at the hearing largely focused on issues outside of the mortgage market.
A Fannie Mae index that measures housing sentiment declined on an annual basis in February, marking the first annual decline in housing sentiment since 2023.
Nominations for leaders at CFPB, FHFA waiting for full Senate vote; loanDepot CEO Frank Martell to step down; newer digital lender receives investment from Progressive Insurance.
During a confirmation hearing last week, Trump’s nominee to head FHFA was noncommittal in response to questions about GSE reform, a hint that the administration has other priorities.
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