“These rules must be updated, and your efforts to stop regulators from doing so is unjustified and harmful,” Sens. Elizabeth Warren and Maxine Waters wrote in a letter to the Chamber of Commerce and the American Bankers Association.

In the first six months of 2024, Rocket had a market share of 10.5% in the wholesale channel, according to estimates by Inside Mortgage Finance, while United Wholesale Mortgage’s market share stood at 43.1%.

Carlyle, an investment firm, agreed to purchase up to $300 million of Unison's new equity-sharing mortgage products.

The broker share of originations declined from 19.1% in the first quarter to 18.2% in the second quarter, according to a new ranking and analysis by Inside Mortgage Finance.

The average interest rate on a 30-year fixed-rate mortgage declined to 6.20% this week, according to Freddie Mac.

Mat Ishbia, president and CEO of UWM, said “retail competitors and large servicers are intensely working to solicit” borrowers who received their existing mortgages through brokers.

Previous industry changes — the Uniform Mortgage Data Program, the single security initiative and the transition away from the London Interbank Offered Rate — took longer than expected to put into place and caught some stakeholders flat-footed.

Buying a home is “roughly affordable again at the national level,” according to Zillow.

Income from mortgage production increased in the second quarter as servicing income declined.

Given confusion around the commission structure for home sales, it’s important for loan officers to advise real estate agents and become a source of knowledge for homebuyers, according to Jonathon Haddad, CEO of the Association of Independent Mortgage Experts.