Amerant Bank launched national mortgage operations in 2021. Now, the bank is reducing its footprint, focusing on lending in Florida where its bank branches are located.
Waterstone Financial relents on defense against poaching allegations; Mr. Cooper takes loss on sale of Flagstar’s third-party originations unit; legal expenses rise at Mr. Cooper.
The founder of Rocket Companies could see $571.9 million in tax benefits triggered by the company’s planned acquisition of Mr. Cooper; legislation in the House would set standards for remote online notarization; new company offering NMLS-approved education.
Better is touting investments in artificial intelligence to help slash costs tied to originating refis. The lender is also building a distributed retail operation to increase production of purchase mortgages.
Mortgage-banking income reported by nonbank lenders nearly tripled in the fourth quarter to $3.86 billion. The gain came from massive markups of MSR values thanks to rising interest rates. (Includes data table.)
After achieving profitability in the third quarter, loanDepot returned to the red in the fourth quarter. And the CEO brought on to turn the nonbank’s fortunes around three years ago is departing, with company founder Anthony Hsieh taking a larger role.
When Rocket’s acquisition of Redfin could pay off; PennyMac sponsoring Team USA at Olympics; TransUnion brings on verification tool from Truework; Eastside Distilling now Beeline Holdings, a mortgage company.
The industry’s most profitable mortgage-banking business during the fourth quarter was operated by Truist Bank. Meanwhile, TD Bank reported a huge $911.2 million loss related to the sale of mortgage loans. (Includes data table.)
Homebuilders with lending units continue to prop up home sales by offering mortgage buydowns. The tactic cuts into homebuilders’ margins but many company officials prefer lower margins rather than unsold inventory.
RSS