Contracts, Invoices & Legal

Credibly will bring its SMB loans and revenue-based financing products to Figure's Democratized Prime platform, Figure said in a press release. View the full article

Rocket Cos. fell just $200 million short of United Wholesale Mortgage in Q1, as servicing recapture from its massive MSR portfolio fueled $44.7B in closed loan volume. View the full article

Rate-and-term refinances dropped sharply in the short run but the overall number's comparison to a year ago is a different story, according to Optimal Blue. View the full article

Rocket Mortgage pointed to United Wholesale Mortgage's refinance promotions and comments by Mat Ishbia to induce brokers to breach non-solicitation agreements. View the full article

Delinquencies among recent FHA originations are showing up alongside a notable volume of subordinate liens carried by the borrowers. View the full article

Lenders at the MBA conference say non-agency is more than just non-QM — and those still treating it as a niche product are falling behind as it becomes a core part of the business. View the full article

Fannie Mae and Freddie Mac will add loan-level buydown data to MBS this spring, giving investors clearer insight into prepayment risk tied to temporary rate incentives. View the full article

More than 42,000, or 13.7%, of home-sale agreements in the United States fell through in February, according to a new Redfin report. View the full article

Yields rebounded after the 30-year held near 5%, but the yield curve's flattening trend likely isn't over, according to the head of correspondent business development at AD Mortgage. View the full article

Lawsuits and probes are ramping up, and some courts have broadened the lending law's statute of limitations, said Bradley Partner Jonathan Kolodziej. View the full article

The 30-year fixed fell to 6.37% after a two-week ceasefire tempered war-driven volatility, but economists warn the spring housing market faces continued turbulence. View the full article

LoanDepot will integrate Figure's proprietary credit and loan underwriting engine into its own proprietary mello technology platform and point of sale system. View the full article

Both Chase and Wells Fargo had a 15% reduction quarter-to-quarter in mortgage originations, more than the industry forecast for a 6% drop-off, Keefe, Bruyette & Woods noted. View the full article

Toll Brothers' purchase of Buffington Homes of Arkansas will extend its national outreach with a strong presence in northwest Arkansas, the company said. View the full article

M&A, complementary to widespread artificial intelligence implementation, is also high on the list of upcoming priorities for new Dark Matter CEO Vikas Rao. View the full article

State mortgage regulators are increasingly treating supervision as enforcement, imposing large fines even when companies fix issues quickly, writes the head of public policy at NewRez. View the full article

Employers hired an additional 115,000 workers in April, while unemployment remained unchanged at 4.3%. Despite the positive headline figure, a spike in newly unemployed workers and a rising number of underemployed workers suggests instability under the surface. View the full article

While Freddie Mac's weekly data found the 30-year average inching lower, 10-year Treasurys swung in the other direction after this week's economic release. View the full article

First-time buyer ages and declining homeownership rates demand bold federal action on taxes, condos and financial literacy, according to the head of the CHLA. View the full article

Copper Ridge Ventures has joint venture businesses with mortgage loan officers and real estate professionals using the same broker model as NEXA Lending. View the full article