Maria Volkova is a technology reporter at National Mortgage News. She previously worked at HousingWire where she covered housing agencies, with a focus on the Department of Housing and Urban Development and the Department of Veterans Affairs. Prior to that, Maria wrote the FHA/VA newsletter at Inside Mortgage Finance. She graduated from the University of Maryland and currently resides in Chevy Chase, MD.
Industry stakeholders predict the bombshell allegations around how United Wholesale Mortgage does business will impact customer sentiment and could lead to more regulatory oversight.
The broker argues it did not break any agreement because it never signed an amendment to UWM's ultimatum in 2022.
The head of the U.S. Department of Housing and Urban Development under the Biden Administration said she will transition from public life starting March 22.
Rocket shrunk its workforce by about 20% year-over-year, while Academy cut 250 employees prior to being acquired by Guild Mortgage.
The lender had previously revealed that personally identifying information from 16.6M customers had leaked, but hadn't offered these details.
Over 70 loans were allegedly sent to competitors by the independent mortgage banker, a suit filed by UWM alleges.
16.6 million former and current Loandepot customers had their data leaked, the lender and servicer announced Monday.
Low refinance volume creates a "relative disadvantage" for Rocket, which historically had a much larger share of that market versus purchase, a note by Bose George, analyst at Keefe, Bruyette & Woods, said.
A Connecticut-based couple sued the bank and Cavanaugh Appraisals, LLC for denying them a refinance in 2021 because of racial bias.
Lenders reported a net loss of $534 on each loan they originated in the last quarter, an improvement from the $1,972 loss per loan the quarter prior.