A Michigan appeals court judge affirmed that UWM’s move to compel arbitration in a dispute with a former employee was seven months too late.

The mortgage process met or exceeded the expectations of many homebuyers; interest rates look to be too high for potential homebuyers; the defect rate on mortgages declined again; tech vendor raises $19 million; Altisource Asset Management exits mortgage market.

Two large nonbank retail lenders took losses in the fourth quarter, with officials stressing that better days are ahead. Guild is growing through M&A while loanDepot is reducing its staffing.

Lenders look to remote online notarization; Ocrolus offers rep-and-warrant coverage for income calculations; ICE offers tool to facilitate reconsiderations of appraisals; Planet Home launches products to help borrowers compete with cash offers; property insurance costs rise nearly 20%; Flagstar plans tech accelerator program; disconnect on homebuyers’ plans and saving for a downpayment.

A recent push by the White House to increase oversight on artificial intelligence should lead to more regulations in the coming year.

Cyberattack will cost loanDepot at least $12 million; average borrower has nearly $300,000 in home equity; home prices overvalued across the country; MSR gain some value; new servicing platform from Sagent; MCT offers TBA pricing indicators; lender launches real estate platform.

The company estimates mortgage technology segment revenue growth in the low to mid-single-digit range this year. The segment boosted revenue by 17% in 2023.

Lenders cut more staff; rate locks up 14% in January; borrowers have plenty of equity; bill to limit trigger leads in House; LoanCare revamps servicing website; Staircase launches ChatMTG.

As more companies experience cybersecurity breaches, internal user training is essential to ensure critical user data is protected.

Citizens Bank left the wholesale channel amid weak margins; Mr. Cooper’s cyberattack recovery includes large expenses for borrower services; new leader at broker group; Consolidated Analytics acquires Real Info; customer relationship management tool with artificial intelligence for loan officers.