When nonbanks hurt, so too do their warehouse bankers. Just how bad is it? Many originators in the primary market are struggling to post a profit, violating their contractual covenants. (Includes data chart.)

To gain ground in a tough origination market, Rocket has set its sights on purchase-mortgage borrowers while United Wholesale is focusing on margins.

Homebridge Financial has agreed to sell most of its MSRs and its entire retail network to California-based CMG. Homebridge insists it’s not going away and is working on other transactions.

The Newark, OH-based bank was accused of redlining mortgage borrowers in majority-Black and Hispanic neighborhoods of the Columbus metropolitan area.

Less than a week after raising the “going concern” flag, the California lender announced plans to wind down its operations and liquidate.

The GSEs’ endorsement of attorney opinion letters in lieu of title insurance has the title industry concerned.

Rocket has a huge imbalance between refinances and purchases. Will “distributed” retail help? Meanwhile, FHA rolls out its 40-year modification product.

The Supreme Court has agreed to take on the contentious issue of whether the CFPB’s funding is unconstitutional. Last year, the Fifth Circuit Court of Appeals held the bureau’s funding structure violated the Constitution’s appropriation clause and separation of powers doctrine.

Is the worst of the mortgage downturn over? Probably not but there appears to be some improvement. Now, if only interest rates would cooperate.

Subservicing vendors don’t seem to be adding to their contract base these days with a few isolated exceptions. A reflection of fewer new loans being created or something else? (Includes data chart.)