Locks for mortgages increased by 17.1% on a monthly basis in March.

At yearend, the West Palm Beach-based Onity owned $130.6 billion of MSRs.

“UWM will be discontinuing our subservicing relationship with Mr. Cooper and they will no longer be [a mortgage servicing right] sale partner,” a UWM spokesperson said.

Mr. Cooper was the eighth-largest correspondent aggregator in 2024.

Brookfield has more than $1.0 trillion in assets under management across a variety of sectors.

Rocket’s long-term issuer default rating could be downgraded due to elevated corporate leverage.

Last week rumors were circulating in the industry that a top-ranked nonbank was about to be sold, but the name being floated was not Mr. Cooper.

One servicing advisor said he has “deals in progress,” just not as many as this time last year.

“The CDFI Fund is a targeted, accountable and impactful program that enables private capital to do more for more Americans,” industry trade groups wrote.

Officials at Rocket suggested that the combined companies could greatly reduce costs for homebuyers.