The termination fee on the NRIC-Caliber deal: $25 million.

As might be expected, the move rattled lenders who are now trying to figure out the ramifications of a patch-less mortgage world...

What some may have forgotten: Last fall, NRIC submitted a confidential S-1 on its mortgage banking affiliate NewRez but the IPO never came off...

In a sign of frustration, on Tuesday the MBA turned up the volume, asking members of the Mortgage Action Alliance, its main lobbying arm, to call their congressman...

According to figures compiled by Inside Mortgage Finance, Better – which is just five years old – ranks 36^th among all home originators.

However, the revised regulation never saw the light of day —  it was stayed a day before implementation by a federal court in Massachusetts. Since October, the future of the rule has been in limbo.

Owned by Lone Star Funds, Caliber late last fall filed to go public but the IPO has been on hold for undisclosed reasons. Meanwhile, NRIC also said this morning that its previously announced IPO of NewRez will proceed.

Some $3.86 billion of expanded-credit MBS was issued in the first quarter, up 13.2% from 4Q20...

Among the key risks highlighted with the use of AI: explainability, data usage and dynamic updating...