Black Knight ready to sell Empower to address antitrust concerns
Deal with Constellation Software Inc. hinges on Intercontinental Exchange closing deal to acquire Black Knight, now valued at $11.7B. ICE says it's prepared to fight FTC in court
by Matt Carter Mar 7
Mr. Cooper names second chief financial officer in less than a year
Mortgage veteran Kurt Johnson, who held executive roles at Indymac Bank and OneWest Bank before joining Mr. Cooper in 2015, succeeds Jaime Gow as CFO, it was announced this week
by Matt Carter Mar 7
Pandemic-fueled 'lock-in effect' likely to limit new spring listings
Black Knight data shows new listing volume down 25% in January compared to pre-pandemic levels, the biggest drop since most of the country was in lockdown
by Matt Carter Mar 6
Rocket, UWM cut a combined 9,500 positions in 2022, new filings show
Companies say that instead of laying off workers, they're trimming their payrolls through attrition or by offering voluntary buyouts
by Matt Carter Mar 3
Park National Bank latest lender to settle federal redlining charges
The Ohio bank's $9M pledge to promote ownership in Black and Hispanic areas is the 6th since the DOJ launched an initiative to combat redlining in 2021 that has generated $84M in relief
by Matt Carter Mar 3
Utah 1st state to ban long-term listing agreements enforced by lien
Legislation expected to go into effect April 1 addresses allegedly deceptive tactics employed by MV Realty and was based on a model bill drafted by American Land Title Association
by Matt Carter Mar 2
Rising mortgage rates a headwind for spring homebuying season
After 3 straight weeks of declines in mortgage applications, demand for purchase loans remains at the lowest level since 1995 for the 2nd week in a row
by Matt Carter Mar 1
UWM posts $62M Q4 loss but keeps title of America's biggest lender
CEO Mat Ishbia says aggressive 'Game On' pricing is still in place, but acknowledges Pontiac-based wholesaler is seeking to boost profit margins in 2023
by Matt Carter Mar 1
Rocket posts its first loss since going public, and it's a doozy
After posting $493M Q4 loss, Rocket executives say they're focused on reaching homebuyers through the wholesale channel and new personal finance app, Rocket Money
by Matt Carter Feb 28
Black Knight's Q4 profits slip as clients cope with challenges
Real estate software, data and analytics company signs new customers to book $452.5M 2022 profit, up 118% from 2021 with revenue climbing 5% to $1.55B
by Matt Carter Feb 28
Better lets Amazon workers put up stock as mortgage collateral
Through Better's Equity Unlocker program, borrowers pay a higher interest rate and Better can seize pledged shares if owners default or try to sell their stock before paying off their mortgages
by Matt Carter Feb 28
Polly's integration with Total Expert enables custom rate flyers
New API integration allows lenders to generate 'highly tailored' marketing materials that include rate, monthly payment and APR based on unique borrower details
by Matt Carter Feb 27
FTC prepares to challenge ICE's $13B Black Knight deal: Report
Federal Trade Commission not convinced that Black Knight's plans to spin off its Empower loan origination system allays antitrust concerns, 'Politico' reports
by Matt Carter Feb 27
Fannie and Freddie keep building capital reserves as profits shrink
By one measure, the mortgage giants have built up two-thirds of the reserves needed for them to be released from government conservatorship
by Matt Carter Feb 27
Wells Fargo lays off hundreds more, including some top producers
The bank says it has racked up $353M in severance expenses, primarily in mortgage, as it closes branches and pursues a 'more focused home lending business'
by Matt Carter Feb 24
Real estate industry welcomes FHA premium cuts, with caveats
Premium cuts are expected to save borrowers $678M a year but don't apply to existing loans or release homeowners who have built up equity from 'life-of-loan' requirements
by Matt Carter Feb 23