In an effort to more closely align its businesses, Quicken Loans is rebranding its wholesale division as Rocket Pro TPO. The announcement came less than 24 hours before rival United Wholesale unveiled plans to go public.
In addition to prohibiting bulk sales of foreclosed properties, individuals and other entities will have a 45 day window after a foreclosure auction to beat the highest bid.
Demand for non-QM MBS has returned to pre-pandemic levels even though the deals include a significant amount of loans in forbearance and fewer protections for investors.
With revenue lower than expected due to the coronavirus pandemic, California is allowing electric utilities to use securitization to avoid sharp rate increases for customers.