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.
Brian O'Shaughnessey's latest venture, Imperial Bancorp, LLC, is set to secure licensing in the next four to six months, when he expects that "spreads and interest rates will tighten and loans will be worth more."
Last month saw purchase rate locks increase by 44%, jumping past the 30% average in February, according to Black Knight's report.
By the end of December, 63% of borrowers saw home values increase by 7.3%, for a collective gain of $1 trillion, CoreLogic's report found.
The bank was already mulling headcount and compensation reductions in early September.
Fourth Capital Bank's collaboration with the megalender is made possible through a partnership with Q2 Holdings.
But late borrower payments slightly grew in November, with 18 metro areas reporting an increase, up from six metro areas in October, CoreLogic's report found.
The layoff round, which a spokesperson said represents "less than one quarter of one percent of the roles in the company," comes after Rocket announced a 20-person reduction in the marketing team in early January.
The Arizona-based lender has been in business for 35 years and has branches in over 20 states.
House hunting activity also slowed in December, with home tours declining 69% from the start of the year, a Redfin report found.
Sales of high-end homes fell 38.1% year-over-year, per a Redfin report.