“I believe AI will be at the center of how clients buy, sell and finance homes,” said Varun Krishna, the new CEO of Rocket Companies.

Rithm Capital posts a profit in the third quarter as it prepares for the acquisition of Specialized Loan Servicing early next year.

The Georgia-based lender will accept locks through the end of the month before shuttering its retail operations.

More bulk auctions of mortgage servicing rights are on the horizon; Real estate investment trust AGNC reports preliminary estimates for the third quarter of 2023; ICE reports that foreclosures increased in September; Attom finds home seller profit margins rose in 3Q.

CMG’s scorecard looks like this: 394 retail branches today compared to 241 a year ago.

The DOJ has more than 24 investigations into redlining in progress.

More bad news for Blackstone's reverse lender, Finance of America...

“When the yield on the 10-year [Treasury] goes up more than 50 basis points in less than a month, something is going to get broken,” one consultant noted.

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

Rithm will pay for the purchase using “existing” and “available liquidity” as well as servicing-backed financing.