Amerant Bank launched national mortgage operations in 2021. Now, the bank is reducing its footprint, focusing on lending in Florida where its bank branches are located.
During summer months, when loan officers are more likely to be overworked, denial rates on refinance applications increase, a sign of credit rationing, according to CFPB researchers.
Waterstone Financial relents on defense against poaching allegations; Mr. Cooper takes loss on sale of Flagstar’s third-party originations unit; legal expenses rise at Mr. Cooper.
Demand from borrowers increases when mortgage rates fall below 6.5%, according to Owen Lee, CEO of Success Mortgage Partners. Due to policies from the Trump administration, it’s unclear whether rates will decline to that level in the near term.
Fitch Ratings warned that it could downgrade its corporate rating on Rocket following the company’s planned acquisition of Mr. Cooper. Rocket’s corporate leverage looks poised to increase.
The founder of Rocket Companies could see $571.9 million in tax benefits triggered by the company’s planned acquisition of Mr. Cooper; legislation in the House would set standards for remote online notarization; new company offering NMLS-approved education.
Better is touting investments in artificial intelligence to help slash costs tied to originating refis. The lender is also building a distributed retail operation to increase production of purchase mortgages.
Changes to the pricing grids of Fannie Mae and Freddie Mac last May created a natural experiment for researchers to study how changes to guarantee fees impact the housing market.
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