Unlike subprime loans that were subjected to minimal underwriting standards in the runup to the 2007 housing crash, new 0-down loans meet criteria set by mortgage giant Freddie Mac
Nation's largest mortgage lender says brokers 'will no longer need to work with a title company or settlement agent for title work, balancing fees, scheduling closing or any related communication'
In the face of so much rapid change and an often-frustrating lack of clarity from The Powers That Be, what the heck are you supposed to tell your buyers and sellers now?
Lawsuit alleges search results on Mortgage Matchup are 'designed to steer borrowers to brokers who funnel nearly all their business to UWM' regardless of which lender offers best loan terms
United Wholesale Mortgage's $180.5M in net earnings were boosted by the sale of $70B in mortgage servicing rights (MSRs) and a $141M markup in the value of the $230B in MSRs retained
On its quest to reclaim the title of nation's biggest mortgage lender, Rocket didn't sacrifice profits, generating $291M in net income as revenue grew 107% from a year ago, to $1.38B
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
In a break with the past, 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
Looking for a quick catch-up on the buzziest stories of the week? Here’s Inman Top 5, the most essential stories, according to Inman readers
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' and pledges to pay business partners' legal fees
Hunterbrook Media founder dismisses Ishbia's take as 'baseless conspiracy theory'; Rocket says it and founder Dan Gilbert have no financial interests or relationship to hedge fund
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'
Counterparty risk and oversight platform provider Loanscape says customizable questionnaires and document requests allow lenders to automate up to 80% of the onboarding workflow
Nation's largest mortgage lender trims its $300B servicing portfolio by nearly one-fourth, selling $70B in mortgage servicing rights for $941.2M, excess cash flows on $19.4B in loans for $150.9M
Nation's biggest mortgage lender posts first annual loss since going public in 2020, largely driven by an $854.1M write-down in the value of UWM's $300B mortgage servicing rights portfolio