United Wholesale’s Earnings Propped Up by MSR Sales August 10, 2023 Brandon Ivey Year-to-date, UWM has booked nearly $1.4 billion in proceeds from sales of MSRs and excess MSRs.Read More
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
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
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
Short Takes: Mortgage Fair Housing Complaints Decline / Fewer Cash-Out Offerings / Plenty of Equity August 8, 2023 Brandon Ivey The National Fair Housing Alliance tracks complaints from fair housing organizations and government agencies.Read More
Chase Tops Servicers in Second Quarter August 4, 2023 John Bancroft Wells Fargo sold off servicing in the second quarter while Chase added to its portfolio.Read More
Servicing Props Up Guild’s Earnings in Second Quarter August 4, 2023 Brandon Ivey Lending remained unprofitable for the nonbank in the second quarter.Read More
Ocwen Turns Profit as CFPB Declines to Appeal Court Loss August 3, 2023 Brandon Ivey Ocwen's income received a $28 million boost from “favorable adjustments to significant legal and regulatory settlement expenses.”Read More
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