“There’s no point in leaving money on the table that’s been allocated,” said Pamela Perry, a vice president of single-family equitable housing at Freddie Mac.

While FICO 10 T won't be used for GSE mortgages for some time, Movement will use the scoring model for non-agency mortgages.

The amount of mortgages nonbanks originated in California in 2022 was more than double the volume in the second-ranked state.

Rate locks were down across mortgage products in September, including a large drop in cash-out refis.

Among the top 100 lenders, banks accounted for 30.9% of originations in the second quarter, up from a 29.9% share in the first quarter.

A coalition of consumer groups, including the National Consumer Law Center, recommend that lenders adopt a reconsideration of value process “as close to mandatory as possible outside a formal rule.”

An amicus brief filed by the Mortgage Bankers Association and other housing industry trade groups was discussed Tuesday in the Supreme Court.

“Our profitability is great,” said Stan Middleman, president and CEO of Freedom Mortgage. “It’s just not coming from originations this year.”

Rocket leads the pack on expanding conforming-loan pricing ahead of 2024 loan limits.

Half of the bonus payments will be withheld until Better achieves two consecutive quarters of “positive operating cash flow.”