Contracts, Invoices & Legal

The Seattle-based company, which had made home loans for more than a century, announced it was quitting the mortgage business in January. It booked nearly 400 small business loans in the first quarter and expects that total to grow as its team gains traction. View the full article

The record-settting fixed-rate nonrecourse financing potentially opens up a new opportunity for nonbank mortgage companies with large MSR portfolios. View the full article

Pent-up demand and the rapid pace of home appreciation is fueling the ongoing rise in home prices, even as mortgage rates present obstacles for buyers. View the full article

Federal Reserve Gov. Adriana Kugler said tighter monetary policy has proved to be less impactful on nonbank lenders during the post-pandemic era. View the full article

Wholesale firm Ardri's acquisition of The Lending Shop comes after the company installed a mortgage industry veteran as its new president earlier this year. View the full article

Dugan is replacing Rich Gagliano, who is moving to executive chairman after 18 months in charge of the now stand-alone mortgage technology provider. View the full article

The Consumer Financial Protection Bureau is likely to scratch and rework its open banking rule, at a time when the agency's fate is in doubt. View the full article

The partnership between the customer contact software provider and the operator of the Empower loan origination system was announced nearly one year ago. View the full article

Even with various tariff pauses and exemptions, suppliers are raising prices due to ongoing policy uncertainty, and consumers also are altering their behavior. View the full article

Banks ceded their market share of home finance following the Great Recession. Will the current regulatory environment make them more involved players? View the full article

Starting April 22, mortgage brokers will be able to access Rocket Pro's loan pricing, interest rates and product eligibility, the company announced. View the full article

Pending sales of previously owned US homes rose in March by the most in more than a year as a brief dip in mortgage rates and a rising supply of houses brought out spring shoppers. View the full article

The potential impact of agentic AI on the mortgage industry's future lies in its ability to give human employees "superpowers," technology leaders say. View the full article

The law would have expanded the state's 12% interest rate cap in a manner that would have effectively banned fintech lending in the state. View the full article

Two industry organizations are giving Congress and FHFA reasons to make Fannie Mae and Freddie Mac's pricing more advantageous rather than less attractive. View the full article

The GOP side of the Banking Committee, led by Sen. Tim Scott, asks FHFA head Bill Pulte to "aggressively" reduce waste at the government-sponsored enterprises. View the full article

The megaservicer is fending off a class-action lawsuit while suing its insurers for allegedly failing to indemnify it following its breach in 2023. View the full article

Top US banking regulators plan to withdraw an overhauled rule meant to tackle redlining and boost lending to lower-income areas after industry groups sued to block the updated legislation last year. View the full article

Kind Lending has big plans to grow its retail channel and is signaling this by putting industry veteran Tammy Richards in charge of the operations. View the full article

A majority expressed optimism of getting listing price or more, but a new survey also found the lock-in effect still weighing on the minds of potential sellers. View the full article

Executives from three wholesale shops, including PRMG, The Loan Store and Newfi, dissected the regulatory landscape and how some developments might impact the broker channel. View the full article

The top five subservicers that are depositories had a combined unpaid principal balance of more than $1.8 trillion at the end of Q4 2023. View the full article

A Colorado regulator earlier this year revoked the license of the appraiser responsible for the 2021 evaluation at the center of the government's suit. View the full article

While ending mandated consumer rights, lenders can still ask for a reconsideration of value on FHA loans; plus, fair lending laws still apply in these cases. View the full article