The inspector general found that FHFA didn’t effectively maintain contingency planning documents for its general support system.

Seed funding was raised from Redwood Trust Ventures and Silicon Valley Bank, among other investors.

Mat Ishbia, president and CEO of UWM, said “retail competitors and large servicers are intensely working to solicit” borrowers who received their existing mortgages through brokers.

The Mortgage Action Alliance issued a call to action to support H.R. 3507, the Yes in My Backyard Act.

Lenders are advised to make use of client reviews, referral programs and relationships with others in the financial sector.

Mortgage technology providers believe originators should look to invest in new technology now before volume picks up later this year.

Loose IT security controls could have made it possible for a malicious employee, or an external party with access to that employee's account, to gain full control of the FHFA network.

Blend Labs took a $19.4 million loss in the second quarter.

Ready Capital sold the MSRs as part of an effort to exit investments in the residential market to put a greater emphasis on commercial loans.