Rising interest rates and a slowdown in originations this year have led to a number of layoffs in the mortgage sector.

Pennymac and Rocket are focused on developing scale and technology to drive down costs as originations are expected to remain muted due to the higher-for-longer interest rate environment.

The lender removed the percentage split between loan officers and NEXA as well as some of the costs tied to other comp structures.

UWM accused Two Harbors executives of subversion, inaction and lies to stop its planned acquisition of the real estate investment trust.

UWM President and CEO Mat Ishbia sees the equity from Oaktree as a positive. Shareholders and industry analysts aren’t convinced.

Lenders are adjusting their retail strategies, with some investing more heavily in distributed retail and others looking more closely at wholesale and direct-to-consumer.

Despite its failed bid for Two Harbors, analysts expect United Wholesale Mortgage to continue its search for a servicing platform.

After months of delays, Two Harbors got its shareholders to agree to the company’s acquisition by CrossCountry Mortgage. The deal is expected to close in August.

The delay to July 2 is the fourth time a shareholder vote on CrossCountry’s bid for Two Harbors has been pushed back.

Two Harbors seeks cash-only offer from UWM; Capital One executive nominated for director of CFPB; SPS settles servicing issues with California; First Federal selling third-party origination business to Mortgage Forward; Sunflower Bank and OceanFirst sell multifamily assets.