The mortgage IPO market is in tatters these days, given higher interest rates and rapidly shrinking profits and originations. So why does fintech Better.com think it can pull off a deal?
A year ago, most mortgage workers could name their price and be compensated at levels never experienced before. And today? It’s a whole different world, with lenders lopping off hundreds, if not thousands of jobs.
The American Association of Residential Mortgage Regulators’ best practices highlight issues state regulators should consider when approving a permanent work-from-home option for LOs employed by nonbanks.
There’s not much left at non-agency lender Sprout Mortgage but there are plenty of rumors, none of them good. Meanwhile, mortgage fintech Better.com has been adding senior managers.
It’s not every day that a mortgage company files for bankruptcy protection, especially one owned by PIMCO. As for the future of that mortgage company, FGMC, a sale of its licenses is expected. After that, it’s game over.
Federal regulators have several mortgage-related regulatory revisions in the works, including standards for qualified mortgages and membership at the Federal Home Loan Banks.