A Michigan court held United Wholesale Mortgage in civil contempt and ordered the company to present its CEO for a deposition as part of an ongoing lawsuit regarding the company’s “all-in” initiative.

The appeals court noted that California law allows employees to “make some preparations to compete” with an employer, but the law doesn’t authorize an employee to transfer their loyalty to a competing company.

Critics say the FHFA director is woefully underqualified to lead national intelligence. The impact on FHFA is also unclear.

Two Harbors seeks cash-only offer from UWM; Capital One executive nominated for director of CFPB; SPS settles servicing issues with California; First Federal selling third-party origination business to Mortgage Forward; Sunflower Bank and OceanFirst sell multifamily assets.

Rocket claims prepayment rates on the loans bought as part of UWM’s MSR deals are roughly 2.5 times greater than prepayment rates for comparable pools and resulted in nearly $100 million in damages.

The delay signals that CrossCountry Mortgage will have to increase its bid price, according to analysts tracking the battle for Two Harbors.

Industry attorneys said the Second Circuit ruling for the second time in favor of federal preemption, in contrast to First and Ninth circuit rulings, increases the odds that SCOTUS will have to revisit the issue.

Canandaigua National Bank claims the Federal Reserve wrongfully rejected its application for offering cash-guarantee mortgages.

The Trump administration continues to tease a 2025 capital raise for the GSEs but industry experts remain skeptical this can be done in a safe, sound manner.

loanDepot has accused West Capital Lending of stealing its leads, misclassifying loan originators and tying LO compensation to loan revenue.