The lawsuit centers on whether requirements under the Truth in Lending Act apply to mortgages that are marked as commercial on loan documentation but have certain residential characteristics.

FHFA is working on internal guidance to improve its exams of nonbank mortgage companies.

Wells was largely done with purchasing jumbo loans through the correspondent channel by the end of the first quarter of 2023.

Previously, Better’s LOs weren’t paid commissions and the lender focused on using technology to get loan applicants through the mortgage process.

The deal received a preliminary A rating from Morningstar.

Mortgage industry policy will be subject to more swings as administrations change, according to Ed DeMarco, president of the Housing Policy Council.

The fine levied by the Department of Labor for emotional damages followed a whistleblower complaint involving PrimeLending.

Earnings from both originations and servicing took another hit in the fourth quarter of 2023.

“MBA objects to the bureau’s overbroad interpretation of the scope of its abusiveness authority,” wrote Pete Mills, a senior vice president of residential policy and strategic industry engagement at the MBA.

The delinquency rate on the conventional loans is 5.23%.