The mortgage tech and title provider posted a $132.7 million net loss in the third quarter of 2022, with revenue falling 38 percent from a year ago to $55.3 million, according to an earnings call Thursday. Continue reading
Mr. Cooper, which had 8,200 employees at the end of last year, laid off 250 workers from its lending business during the first quarter and announced another 420 layoffs in June. Continue reading
While growing loan servicing business remains profitable, according to Q3 earnings, paper gains on servicing rights could evaporate if interest rates fall and borrowers refinance out of portfolio. Continue reading
The Arkansas-based lender will use Sagent’s servicing solutions to collect monthly payments from borrowers and manage loans when homeowners get behind on their payments. Continue reading
The ranks of the real estate industry have swelled over the past decade. Some experts who spoke to Inman believe a trend in the opposite direction may be picking up speed. Continue reading
Investors warned of “break even” second quarter as rising mortgage rates put a bigger-than-expected dent in loan originations. Continue reading
With a few exceptions, the layoffs have so far largely been confined to companies providing mortgages and mortgage-related services like title and closing. Continue reading
Citing impact of rising rates on mortgage originations, Mr. Cooper laid off 250 workers during the first quarter, with more reductions in store. Continue reading
Pittsburgh-based Clearview Federal Credit Union partners with Sagent to bring its mortgage servicing business in-house. Continue reading
A sharp decline in mortgage refinancing prompts Blend to pull back “very hard” on hiring and reconsider the “right number of people” needed in the title insurance segment. Continue reading