A $565 million influx of cash from an August SPAC merger and a $1 billion reduction in annual expenses put Better on a footing to navigate a challenging market, executives say. Continue reading
“Door open” to Harley’s return after he relinquishes leadership roles, citing family reasons. Longtime CFO Marco Fregenal takes over as CEO and independent director Scott Flanders as board chair. Continue reading
Speaking at an IMF research conference, Powell said the Fed is committed to raising rates as high as needed to bring inflation down, and “we are not confident that we have achieved such a stance.” Continue reading
Better, which has had a strategic partnership with Ally Bank since 2019, is looking to partner with more lenders by launching a white-labeled “mortgage-as-a-service” platform with Infosys. Continue reading
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
While transactions fell 15 percent from 2022, Fathom executives said during a Q3 earnings call Wednesday that its flat fee commission split model helped its agent network grow by 13 percent. Continue reading
While others are downsizing, the nation’s biggest mortgage lender is investing in new technology and hiring new team members to be prepared if mortgage rates come down and business booms. Continue reading
Purchase mortgage applications trended up last week for the first time in nearly a month as mortgage rates retreated from 2023 highs, according to the MBA’s weekly survey of lenders. Continue reading
With headwinds in sight for 2024, loanDepot plans to slash $120 million in annual expenses following three consecutive quarters of cuts, CEO Frank Martell said during a Q3 earnings call Tuesday afternoon. Continue reading
Mortgage and banking tech provider reports a $41.8 million Q3 net loss with revenue down 27 percent from a year ago to $40.59 million, but company executives emphasize potential for growth. Continue reading