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
Ginnie Exploring Credit Facilities for Nonbanks August 8, 2023 Monica Hogan Ginnie Mae President Alanna McCargo said nonbank liquidity is the biggest challenge facing the government mortgage system.Read More
Mortgage Profits at Banks Increase in Second Quarter August 8, 2023 John Bancroft JPMorgan Chase led the industry with $274.0 million in mortgage fees and related income, a 22.9% boost from the first quarter.Read More
Angel Oak's REIT Takes Loss in Second Quarter August 8, 2023 James Dohnert Angel Oak's REIT posted a $3.6 million loss after reporting a small profit to start the year.Read More
GSEs Adjust Guidelines on Tax Liens, Appraisals August 8, 2023 Dennis Hollier Freddie Mac stated that the borrower’s debt-payment-to-income ratio must be calculated based on the payment plan established with the IRS.Read More
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