Tag Archives: mortgage servicing

Profits roll in at Mr. Cooper as it pursues tech-fueled growth

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Deal to acquire Flagstar’s mortgage servicing business and correspondent lending platform is projected to grow Mr. Cooper’s servicing portfolio to $1.59 trillion. Continue reading →

LoanDepot boosts revenue, sells servicing to restructure debt

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Pending $25 million settlement of January cyberattack adds to $66 million second-quarter net loss, but executives say they’re in a better position to grow after selling $29 billion in mortgage servicing rights. Continue reading →

Rocket says AI helping it grow capacity and keep expenses flat

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With second quarter net income up 28 percent to $178 million, CEO Varun Krishna says Rocket is making “significant investments in data leadership and infrastructure.” Continue reading →

Tech enables instant mortgage payments with a debit card

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Payment processing technology developed by REPAY is now available to loan servicers through ICE Mortgage Technology’s Servicing Digital solution, a customer engagement and retention tool. Continue reading →

3rd round of layoffs at Newrez brings 2024 job cuts to 750

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After cutting nearly 500 jobs after Computershare acquisition, lender to eliminate another 277 positions in August, including senior executives in Colorado, Arizona and Florida. Continue reading →

Fewer homeowners constrained by mortgage lock-in effect

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Two years ago, nine out of 10 mortgages had rates below 5 percent. Today, there are 5.8 million fewer sub-5 percent mortgages in the market and 1 in 4 borrowers has a higher rate. Continue reading →

Newrez laying off nearly 500 workers after Rithm acquisitions

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Pending layoffs of 420 Newrez employees in Colorado and 53 workers in Florida follow $1.4 billion in acquisitions as parent company Rithm seeks to diversify beyond mortgage lending. Continue reading →

Rocket Mortgage picks up market share — and turns a tidy Q1 profit

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On its quest to reclaim the title of nation’s biggest mortgage lender, Rocket didn’t sacrifice profits, generating $291 million in net income as revenue grew 107 percent from a year ago, to $1.38 billion. Continue reading →

Loan subservicer Dovenmuehle Mortgage laying off 212 workers

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Illinois-based Dovenmuehle Mortgage, which collects monthly payments from homeowners in all 50 states on behalf of lenders and investors, says it’s cutting HQ staff but not closing down. Continue reading →

Mr. Cooper back online after ‘precautionary’ 4-day shutdown

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More than 4 million homeowners send their mortgage payments to Mr. Cooper, but it’s unclear how many had their data exposed as the company continues to investigate a breach discovered on Halloween. Continue reading →