NEXA Lending launches new model, touts 100% revenue split for LOs
CEO Mike Kortas: ‘If you are producing the business … we believe you should have access to all of it’
Mortgage Broker
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Rocket Pro to build 3 mortgage tech tools pitched by brokers
The company presented three prototypes created from broker-submitted ideas for its Big Pitch contest
Jamie Cavanaugh to lead Broker Action Coalition as CEO
Brendan McKay remains president while outgoing executive director Rachel Clark is credited with building the group’s current foundation
HECM broker endorsements continue tepid pace in May
Atlantic Avenue remained at No. 1 despite declining endorsement activity during the month
Brokers say it’s ‘business as usual’ with UWM despite loss, capital raise
Mortgage brokers working with United Wholesale Mortgage (UWM) say it remains “business as usual” following the lender’s second-quarter loss and a multibillion-dollar capital raise, with no noticeable impact so far on day-to-day loan production.
Berkshire Taylor Morrison deal puts vertical integration in focus
Berkshire Hathaway’s planned acquisition of Taylor Morrison has opened the door for us to explore a set of uber-themed questions: about homebuilders’ present and future valuations, leadership and scale, and to the question that public homebuilder boards may now be asking: whether to build toward greater scale or join it. A related question may be […]
Rocket Mortgage, Rocket Pro adopt VantageScore 4.0
Rocket began using VantageScore 4.0 with Classic FICO, as FHFA pilots the model and lenders delivered $10 million in loans to Freddie Mac.
AD Mortgage broker survey finds rising AI use and training gaps
In an AD Mortgage survey of 250-plus brokers, 55% use AI regularly and training satisfaction averaged 6.49 out of 10.
UWM adds VantageScore alongside FICO for conventional loans
UWM will show FICO and VantageScore on no-cost credit reports for conventional loans, aligning with FHFA pilot plans.
New Cheval Holdings acquires Surge, appoints Jimmy Gillespie as CEO
New Cheval Holdings acquires Surge, a wholesale mortgage partner intelligence platform, and names Jimmy Gillespie as CEO.