Scaling from Freelancer to Business Owner

The rollout comes as the company looks to build out offerings for originators, launching after PHH returned to the proprietary reverse-mortgage arena this year. View the full article

A failure at an Amazon Web Services data center in Virginia caused widespread outages, hitting services at several banks and fintechs. View the full article

The appointment of the mortgage veteran comes as the lender undergoes marketing and branding pivots, including its recent name change from Nexa Mortgage. View the full article

The reduction in force affects under 1% of Rocket's team, with the decision to streamline operations made following identifying overlapping roles post-merger. View the full article

Other studies have found fewer credit pulls could be viable, but this shows millions more would be adversely impacted than in a bi-merge. View the full article

A judge agreed to expand her temporary restraining order to add more federal worker unions after their lawyers said there's an "urgent" need to prevent layoffs. View the full article

Overall, new 60-day-plus delinquencies totaled $2 billion, up from $1.69 billion in August, while maturity defaults accounted for half, or 51% ($1.05 billion) of new delinquencies. View the full article

Mortgage Bankers Association economist Marina Walsh said lenders could be failing to close more loans as more consumers apply with multiple originators. View the full article

Transunion will offer the credit scoring model for $4 in 2026, following previous moves made by VantageScore partners Experian and Equifax. View the full article

Karsten Giesecke and Michael Karol join Morriello to represent clients such as lenders and private equity funds in transactions including RMBS, CMBS, franchise loans and esoteric assets. View the full article

Flagstar shareholders approved a plan to merge its holding company into the bank; Huntington tapped a new chief auditor, along with two new business leaders; First Foundation hired a new chief credit officer; and more in this week's banking news roundup. View the full article

Approximately three years after the one-time non-depository bought Roscoe (Texas) State Bank, Cornerstone Capital Bancorp agreed to purchase Peoples Bancorp. View the full article

Regulators also accused Southern California-based E Mortgage of failing to properly supervise remote employees and cooperate with their examinations. View the full article

The San Francisco-based banking giant reported a 9% annual jump in quarterly profits. It also made official its appointment of CEO Charlie Scharf as chairman. View the full article

Lebda led the company through its initial public offering in 2000, and its sale about three years later to IAC Inc. In 2008, Lebda joined the newly rebranded LendingTree as it spun out as a separate company. View the full article

In order to believe in the idea of "competition" in credit scores, the Washington housing community must believe that large institutional investors who buy whole loans and mortgage-backed securities are really, really dumb, writes the Chairman of Whalen Global Advisors View the full article

The housing agency director told Sen. Cortez Masto a Federal Home Loan Bank reform review is ongoing and took issue with Sen. Warren's inquiries about meeting transparency. View the full article

The $4.6 trillion-asset company's report comes after it committed to funneling $1.5 trillion into industries it said were important to national security. View the full article

The megabank's third-quarter net income rose 16% year over year, reflecting higher revenues across all five business lines. View the full article

Rate-and-term transactions leaped by 154% from August to September, while cash-outs and purchase loans also increased, according to Optimal Blue. View the full article

Lebda, who died over the weekend in an ATV accident, built one of the first online financial marketplaces in 1998. View the full article

Federal Reserve Chair Jerome Powell acknowledged skepticism around the central banks large-scale asset purchases during the pandemic, noting the Fed likely "should have stopped" sooner, but fell short of admitting that the purchase of MBS' contributed to housing disparities. View the full article