Scaling from Freelancer to Business Owner

One-time Rocket exec Mike Fawaz founded brokerage and tech firm Origna8 with his former adversary's backing, which both say will enable it to quickly scale. View the full article

Shore Capital Partners, a Chicago-based private equity firm founded by billionaire Justin Ishbia, has raised more than $400 million for its second industrial fund. View the full article

United Wholesale Mortgage originated $32.4 billion, up 17% year-over-year and its best first quarter since 2022, helped by refinance volume of $10.6 billion. View the full article

The delay in its shareholder meeting to approve the sale to UWM Holdings could put Two Harbors back in play, but will it get the same price from another buyer? View the full article

Numbers jumped after the expiration of a moratorium at the end of 2024, but rates of foreclosure rose across all loan types, the Mortgage Bankers Association said. View the full article

While the program is still going strong in spite of the shutdown, many misconceptions about its rules, even in normal times, are holding back use. View the full article

About two-thirds of respondents to a NewDay survey said their education about the benefit was lacking either during their time in the service or afterwards. View the full article

The industry welcomed the Department of Veterans Affairs' plan for implementing legislatively-created borrower relief but some would like more clarification. View the full article

Despite interest rate volatility, prepayment rates also increased, surging to levels last seen in October, according to a new ICE Mortgage Technology report. View the full article

Delinquency trends split in Q3, with securitized and agency loans showing more strain while banks and life companies saw small improvements amid uneven vacancy and rent conditions. View the full article

Remote work helped fuel migration and erased the loss of rural residents that occurred in the decade prior to the arrival of Covid, Harvard researchers found. View the full article

The company has not traditionally had a large presence in housing finance, but plans for government-related credit modernization have given it a boost. View the full article

VantageScore's claims of outperforming Classic FICO rely on flawed methods and biased comparisons that overstate its impact, according to analysts from AEI Housing Center. View the full article

Mortgage Research Center is adding First Residential Independent Mortgage to do conventional and FHA, but it will be sunsetting the Paddio branding. 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

The CEO of the retail lender said the company shuttered after reassessing an evolving regulatory environment and continued market consolidation. View the full article

As commissioner of Virginia's Bureau of Financial Institutions since 1997, Joe Face emphasized strengthening the dual banking system. View the full article

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

Walker & Dunlop Affordable Bridge Capital will originate flexible, short-term first-mortgage bridge loans for properties designated for government programs. View the full article

The latest data offered some relief to traders worried about more pronounced inflation that could keep a lid on rate cuts. View the full article

Federal Reserve Chair nominee Kevin Warsh has several paths toward reducing the central bank's $6.6 trillion balance sheet but the process will be costly and lengthy, Wall Street strategists say. View the full article

Federal Reserve Gov. Christopher Waller said in a speech Monday that private and public-sector data suggests that the labor market is continuing to weaken, making a 25 basis point rate cut in December a prudent choice. View the full article

Federal Reserve Gov. Christopher Waller said there was a popular "misunderstanding" Thursday regarding who can qualify for a "skinny" master account, noting that only firms with a bank charter would qualify for approval. View the full article

Federal Reserve Gov. Christopher Waller said during an appearance Monday his decision on whether or not to support a cut to short-term interest rates depends on labor market indicators. View the full article

In a public appearance Thursday, Federal Reserve Gov. Christopher Waller said the Founding Fathers supported independent money management and undoing it now would be a mistake. View the full article