Plaintiffs hope that a pattern of illegal contract interference and the theft of trade secrets will justify RICO charges — and treble damages — against the Ohio lender.

The correspondent channel accounted for 40% of Wells’ originations in 2022, and the bank ranked third among all lenders in the channel. Still, some see Wells’ move as a positive step for the mortgage industry.

It’s been an ugly couple of months for crypto financier Silvergate Bank, an FDIC-insured institution. One casualty: its non-QM warehouse finance business.

It’s a safe bet that further job cuts are in the cards for most mortgage franchises. But is the worst of the personnel bloodletting over? That’s hard to say. The optimists out there are hoping for a stronger second half.

The Federal Housing Finance Agency, the Department of Housing and Urban Development and the Consumer Financial Protection Bureau have a number of mortgage-related rulemakings in the works, according to their policy agendas.

Although race and ethnicity play a role in the cost of a mortgage, geography, education and loan type may be more important.

UWM chief Mat Ishbia is about to become the owner of an NBA team. Does he have enough money to make the grade? It certainly looks that way.

PrimeLending claims First Community Mortgage encouraged employees to bring trade secrets with them when they shifted companies.

A new year has commenced, with originators of all sizes trying to figure out the best way to stay afloat until rates fall markedly and conditions improve. The biggest challenge, perhaps: cash burn.

Home-equity originations rose 4.2% in the third quarter as the home-equity market opened up to nonbank lenders. Untapped HELOC commitments point to further growth to come. (Includes three data charts.)