Contracts, Invoices & Legal

This transaction, following Rocket's purchase of Redfin, could be the start of the creation of large players to compete with the likes of Zillow. View the full article

The company first entered the Canadian market in 2020 through an investment in an Ontario-based brokerage, which later rebranded to Rocket Mortgage Canada. View the full article

The most tangible concern is in the commercial real-estate market. But the rating agency's crystal ball is cloudy when it comes to single-family home loans. View the full article

The Buffalo, New York bank's loans edged higher in the first quarter while deposits fell 1.7% from a year ago. The bank also lowered its full-year outlook for loans and deposits. 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

UWM, embroiled in an us-or-them feud when it comes to business partners working with Rocket, terminated its subservicing and sales deals with Mr. Cooper. 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

Sen. Dick Durbin, the Senate's No. 2 Democrat, announced he will not seek reelection in 2026, concluding more than four decades in Congress. The Illinois lawmaker leaves behind a notable imprint on U.S. financial policy, particularly regarding swipe fees. View the full article

Among the resignations are Mark McArdle, who was instrumental in creating the Qualified Mortgage rule, and Operations Chief of Supervision David Bleicken. It is unclear if the Consumer Financial Protection Bureau will hire anyone to succeed them. View the full article

The Irvine, California-based firm reported a net loss of $67.5 million in the fourth quarter. 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

Three U.S. agencies lack a "comprehensive, government-wide strategy," according to a report that echoes complaints banks have made for years. View the full article

Inflation cooled faster than expected last month, giving the Federal Reserve room to ease monetary policy if the economy weakens suddenly. But tariffs and other policy changes still cloud the outlook for monetary policy. 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

Rocket said the Redfin deal is part of a purchase mortgage strategy, but originating and retaining residential mortgages in portfolio is the real endgame writes the chairman of Whalen Global Advisors. View the full article

Vacating the judgment would set a dangerous precedent for new administrations to roll back unfavorable rulings, the National Fair Housing Alliance argued. View the full article

Federal Reserve Gov. Michael Barr — who recently stepped down as the central bank's vice chair for supervision — urged banks and regulators to use emerging technologies to keep pace with bad actors. View the full article

Bad actors use generative AI to create automated threats that are more sophisticated than earlier generations of malicious bots, and they are going after banks' APIs. View the full article

Former Capital One Multifamily executive Grace Huebscher departed recently and the Federal Housing Finance Agency appointed a replacement amid broader reform. 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

The homeowner who filed the suit claims he now owes over $160,000 in fees on a second mortgage, which was discharged in 2007. View the full article

The deal significantly grows United Wholesale Mortgage's servicing portfolio, and it will increase the float on its common stock, making it more investable. View the full article

The legislative proposal highlights tensions around broader utilization of partial claim-style mortgage options and the VA's particular difficulty funding one. View the full article

The measure applies to mortgages closed in the months prior to the Southern California wildfires, which are now experiencing early-stage distress. View the full article

Sean Grzebin discusses his plans to leverage JPMorgan Chase's massive consumer audience to pick up mortgage market share. View the full article