Sam Valverde, the principal executive vice president at Ginnie, will serve as acting president following McCargo’s departure.

Among Mr. Cooper’s other top executives, Vice Chairman and former President Christopher Marshall was paid $8.6 million in 2023.

“The producers move over to a new firm and that’s it — that’s the M&A activity,” said David Fleig, who runs MorVest Capital, a servicing advisory firm.

Rocket plans to offer its AI platform to other companies later this year.

Roughly 106,400 mortgage workers have been handed pink slips since business peaked in the spring of 2021...

United Wholesale Mortgage had 6,700 employees as of the end of 2023, up 11.7%, the largest increase among the lenders in the analysis.

Previously, Better’s LOs weren’t paid commissions and the lender focused on using technology to get loan applicants through the mortgage process.

The fine levied by the Department of Labor for emotional damages followed a whistleblower complaint involving PrimeLending.

Roughly three years ago, AmeriHome, a nonbank planning an IPO, was sold to Western Alliance Bank for $1 billion...

If Hutchins becomes the "permanent" CEO of Freddie, the change, ironically, would result in a pay cut...