Loopholes in new law mean credit bureaus will still be able to sell applicants’ information to their current lender, servicer or bank — a boon for lenders who also service their own loans. Continue reading
Both companies have invested heavily in AI. But while Rocket consistently earns high marks for loan servicing, Mr. Cooper’s J.D. Power rankings have been subpar for more than a decade. Continue reading
CEO Jay Bray says the loan servicing giant intends to “hit the ground running” when it merges with Rocket Companies later this year after turning a $198 million Q2 profit. Continue reading
A hearing on an order barring the Trump administration’s move to fire all but 200 of the CFPB’s 1,700 employees is set for Friday, with Democrats calling it an attempt to dismantle the bureau. Continue reading
Getting out from under $1.95 trillion cap would allow the bank to grow its deposit base, providing more room on the balance sheet to originate jumbo mortgages too big for Fannie and Freddie. Continue reading
Sridhar Sharma, who’s credited with developing Mr. Cooper’s patented AI, has been promoted to a new role, and three new tech leaders are joining from other companies. Continue reading
In what’s shaping up to be transformational year for the company, Sagent has revamped its leadership and launched Dara platform to handle every phase of mortgage loan servicing. Continue reading
PennyMac is putting a positive spin on the arbitrator’s ruling, saying the decision allows it to continue to use the disputed loan servicing software “free and clear of any restrictions.” Continue reading
To satisfy antitrust regulators, ICE divests itself of Black Knight’s loan origination and mortgage pricing businesses, but gets access to mortgage loan servicers and MLSs in $11.9 billion merger. Continue reading
Thanks to its Home Point Capital acquisition and other pending transactions, the loan servicing giant delivered upbeat Q2 results Wednesday and expects to hit a $1 trillion target by year’s end. Continue reading