Scaling from Freelancer to Business Owner

The lender, which reported over $200 million in home equity line of credit volume in the recent quarter, suggests the business can deliver massive scale. View the full article

Regulators are nearing a key step in overhauling credit scoring as the MBA touts its influence on GSE policy and close alignment with Washington leaders. View the full article

Following a $60 million credit hit, the Salt Lake City bank said that it hasn't found any other related problem loans. View the full article

The state court seemed open to a narrower view of the legal applicability to loans predating the statute than of broad constitutional challenges to it. View the full article

In dollar terms, the amounts consumers had to come up with increased by $500 on a consecutive quarter basis, in contrast to a $100 drop the year before. View the full article

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

While borrowing activity increased from a year ago, seasonal patterns and economic concerns suggest near-term slowing, the Mortgage Bankers Association said. View the full article

Solve stages an acquisition, Intercontinental Exchange partners on new indices, Optimal Blue adds updates and Incenter offers a CRA loan trading platform. View the full article

LendingTree found that during 2024, May's median price for a 1,500 square foot home was $194.20 versus January's $178.60, a difference of $23,400. View the full article

Renters who pay on time deserve credit toward homeownership, and new data tools can make that possible, according to the owner of Burkentine Real Estate Group. View the full article

The former American Fidelity Financial Services LO helped others scam homeowners out of their loan proceeds for shoddy or nonexistent home repairs. View the full article

The Cincinnati, Ohio-based bank delivered third quarter earnings that mostly met expectations, even as it took a $200 million blow to credit. View the full article