Two large nonbank retail lenders took losses in the fourth quarter, with officials stressing that better days are ahead. Guild is growing through M&A while loanDepot is reducing its staffing.
The company estimates mortgage technology segment revenue growth in the low to mid-single-digit range this year. The segment boosted revenue by 17% in 2023.
Citizens Bank left the wholesale channel amid weak margins; Mr. Cooper’s cyberattack recovery includes large expenses for borrower services; new leader at broker group; Consolidated Analytics acquires Real Info; customer relationship management tool with artificial intelligence for loan officers.
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.
High interest rates are cutting into demand for mortgages; many consumers’ expectations for interest rates are wrong; ICE and Black Knight move close to merger; servicer using blockchain, lender guarantees underwriting results from AI; Flagstar’s mortgage tech accelerator; mortgage payoff fraud attempts increase.
SEC approves Better-Aurora merger; FICO increasing mortgage revenue as originations decline; Rithm to spin off most of its origination/servicing business; impact of revised capital requirements for large banks.
ICE and Black Knight plan to sell Black Knight’s pricing platform in order to win approval from the FTC of a planned merger. Affiliates of Constellation Software have agreed to acquire Optimal Blue.
Home prices expected to decline; FTC hearing on ICE/Black Knight delayed; legal services for AI usage; MISMO updates; accounting proposal on acquired assets.