Rocket hopes the $9.4 billion deal will help it capture 20 percent of all mortgage refinancing and wrest back its title as the nation’s biggest mortgage lender from rival United Wholesale Mortgage. Continue reading
Hundreds of economists say Trump adminstration’s move to fire Cook “threatens the fundamental principle of central bank independence and undermines trust in one of America’s most important institutions.” Continue reading
Democratic Senators Elizabeth Warren, Chuck Schumer and Cory Booker have asked federal regluator to pause any efforts to reprivatize Fannie and Freddie and study potential impact on mortgage rates. Continue reading
A judge gave attorneys for the Fed governor until Sept. 2 to bolster their argument that she should keep her job, as Bill Pulte leveled new allegations of misrepresentation on a third property. Continue reading
Survey shows most Americans are also concerned that privatizing the mortgage giants might lead to higher mortgage rates, although Democrats and independents are more likely to be worried than Republicans. Continue reading
If bond market investors get cold feet about buying government debt and mortgage-backed securities, that could push long-term interest rates higher, even if the Fed cuts short-term rates. Continue reading
Federal Reserve governor Lisa Cook filed a lawsuit against President Trump on Thursday alleging that his attempted firing of her was illegal without him showing “cause” for her termination. Continue reading
With 7.24 million Americans out of work in July and payroll growth slowing, the Fed is expected to pivot from fighting inflation to preserving jobs. Continue reading
A green light from the Federal Housing Finance Agency and antitrust regulators sets the stage for a Sept. 3 vote by Mr. Cooper shareholders on $9.4 billion mega merger. Continue reading
Institutional investors snapped up a securitization of Knock bridge loans, paving the way for the company to scale lending by nearly $1 billion over the next 2 years. Continue reading