Rocket alleges UWM used broker incentives and AI-powered tools to solicit refinances
Colorado-based Covius will continue to provide integrated title and closing services to Blend's customers, and Title365 President Kirby Hulbert will join Covius' settlement services team
Blend posted a $9.4M loss in the first quarter as the slow pace of home sales pulled revenue from its mortgage software suite down 22% from Q4. Its consumer banking suite brought in $9.6M
The all-stock deal is set to close in Q4 2025. Mr. Cooper Group Chair and CEO Jay Bray will become president and CEO of Rocket Mortgage while reporting to Rocket Companies CEO Varun Krishna
The struggling loan technology provider will use an influx of cash from Haveli Investments to pay off the debt it took on to get into the title insurance business by acquiring Title365 in 2021
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