The National Consumer Law Center predicted that implementing the mortgage-focused order will “re-ignite the market conditions” that led to the financial crisis of 2008.
Seneca owned mortgage servicing rights with an unpaid principal balance of $42.31 billion as of the end of December, according to estimates by Inside Mortgage Finance.
Loveen Advani, chief financial officer at Better, projected that the company will hit breakeven status by the third quarter of 2026, when looking at earnings before interest, taxes, depreciation and amortization.