Year-to-date, UWM has booked nearly $1.4 billion in proceeds from sales of MSRs and excess MSRs.

The layoffs will result in a $33 million reduction in operating expenses on an annual basis.

Rocket has “kind of fallen off the deep end,” according to Mat Ishbia, chairman and CEO of United Wholesale Mortgage.

With employee counts shrinking and Wells Fargo exiting the correspondent channel, lenders reported an increase in margins in the second quarter.

Much of the reversal in UWM’s earnings in the second quarter was tied to changes in the value of mortgage servicing rights.

Interest rates on FHA mortgages are at levels last seen in 2002.

The National Fair Housing Alliance tracks complaints from fair housing organizations and government agencies.

Only 18% of consumers believe now is a good time to buy a home...

Mr. Cooper’s servicing portfolio is expanding while the number of employees in the nonbank’s call center is declining. Investment in technology is helping to reduce costs and fuel servicing growth.

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.