Q1 net earnings of $180.5 million were boosted by the sale of $70 billion in mortgage servicing rights (MSRs) and a $141 million markup in the value of the $230 billion in MSRs UWM retained. Continue reading
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
As mortgage heads from UWM and Rocket fight it out in the press, it seems like both agents and consumers are just wondering how they’re going to pay the bills. Continue reading
Most new franchisees signing up for Motto’s “mortgage brokerage-in-a-box” solution are real estate brokerages and teams that aren’t affiliated with RE/MAX. Continue reading
Citing recent court victories, UWM says, “It is not uncommon nor illegal for a broker to send most or all of their business to a specific lender.” Continue reading
Hunterbrook Media founder dismisses Ishbia’s take as “baseless conspiracy theory”, while Rocket says it and founder Dan Gilbert have no financial interests or relationship to Hunterbrook. Continue reading
United Wholesale Mortgage denied explosive allegations that many mortgage brokers who send it business aren’t shopping around for best deals. UWM dismissed a related lawsuit as “a sham.” Continue reading
Counterparty risk and oversight platform provider Loanscape says customizable questionnaires and document requests allow lenders to automate up to 80 percent of the workflow when onboarding mortgage brokers and correspondents. Continue reading
Nation’s largest mortgage lender trims its servicing portfolio by nearly one-fourth, selling $70 billion in mortgage servicing rights for $941.2 million. Continue reading
The nation’s biggest mortgage lender posts its first annual loss since going public in 2020, largely driven by $854.1 million in write-downs of mortgage servicing rights. Continue reading