NMSI lost an appeal of a lawsuit brought by two former employees regarding compensation. The dispute centered on whether email correspondence was sufficient to modify an employment contract.

Maintaining internal policies and documenting employees’ work practices are vital to effectively managing the return-to-office transition, according to industry participants.

Better went from more than 10,000 employees in 2021 to fewer than 900 as of Sept. 1; lenders start early on 2024 loan limits; mortgage lock-in easing; MISMO initiatives; tool to check for appraisal bias; automated title reviews; insurance platform raises funds.

California is set to become the 45th state to allow remote online notarizations for real estate transactions; LOs available 24/7 at Guaranteed Rate; empathetic lenders slow to cut staff; former Black Knight units rebrand as Dark Matter Technologies; Incenter boosts corporate staff; warehouse lending system moves to the cloud.

Volumes are down and lenders are racing to cut costs, but some of their approaches may not be the best for long-term success, a Stratmor analyst said. He suggested lenders update their LO comp structures.

Low-income borrowers could divert some of their downpayment funds to a reserve account that would pay loan costs during emergencies in a pilot program proposed by the Urban Institute.

CrossCountry, Guild offering downpayment assistance; majority of loan originators living paycheck to paycheck; legislation would limit trigger lead activity; and more.

Interplay between debt ceiling and mortgage interest rates; mortgage employment declines; rate locks down; Rithm considers spin-off; Planet Financial looking for lenders; new LO recruiting software; Blend’s market share grows; Black Knight’s margins; new appraisal marketplace; MISMO requests for comment.

Mortgage companies waiting for the market to improve; some high marks on MSRs; Ishbia ready to dedicate more time to UWM; Equifax offers expanded credit reports; House approves bill to set minimum federal standards for remote online notarization; Better launches mortgage product for Amazon employees.

NYCB closes Flagstar’s non-bank branches; FHA offers new incentives for servicers; home prices decline again in November; MBA writes to FHFA on the cost of doing business with the GSEs; new products aimed at newly-constructed homes; MISMO offers loan limit tool.