Retail Channel Gains Share in Agency Market August 10, 2023 Andras Malatinszky The retail channel gained market share from brokers and correspondents in the second quarter.Read More
GSEs to Phase Out COVID Servicing Policies August 10, 2023 Dennis Hollier Most pandemic-era flexibilities regarding QRPC, forbearances and loan-modification plans will sunset Nov. 1.Read More
United Wholesale’s Earnings Propped Up by MSR Sales August 10, 2023 Brandon Ivey Year-to-date, UWM has booked nearly $1.4 billion in proceeds from sales of MSRs and excess MSRs.Read More
Blend Cuts More Staff in Effort to Turn Profit August 10, 2023 Brandon Ivey The layoffs will result in a $33 million reduction in operating expenses on an annual basis.Read More
Short Takes: Ishbia Bashes Rocket / UWM Goes High and Low / Foreclosures Decline / ‘Clueless’ on Housing August 10, 2023 Brandon Ivey Rocket has “kind of fallen off the deep end,” according to Mat Ishbia, chairman and CEO of United Wholesale Mortgage.Read More
Deliveries to GSEs Slow in July August 9, 2023 Dennis Hollier Volume was off 10.4% in July compared with June.Read More
United Wholesale Mortgage Recovers From Loss in 1Q August 9, 2023 Brandon Ivey Much of the reversal in UWM’s earnings in the second quarter was tied to changes in the value of mortgage servicing rights.Read More
Losses Narrow at loanDepot in Second Quarter August 9, 2023 Paul Muolo CEO Frank Martell warned loanDepot will continue to “aggressively” reduce costs, a likely nod to additional layoffs.Read More
Servicers Advised to Improve Communications, Tech August 9, 2023 Sam Manas Borrowers express frustrations when they’re constantly transferred or handed off to another customer service representative.Read More
Short Takes: Elevated Interest Rates for FHA / Loss for FoA / WAMC Goes with AGMIT August 9, 2023 Brandon Ivey Interest rates on FHA mortgages are at levels last seen in 2002.Read More
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