Vishal Garg steps down at Better, board names Daniel Lewis interim CEO
Better Home & Finance Holding Co. has appointed board member Daniel Lewis as interim CEO effective immediately, replacing founder Vishal Garg, the company announced Monday.
Mortgage
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FOA leads July HECM endorsements while HMBS issuance remains weak
Home Equity Conversion Mortgage endorsement declined in July after an uptick in June, while HECM Mortgage-Backed Securities issuance remained near the lowest levels seen since 2009, according to data released Monday by New View Advisors.
Regulators move to narrow CRA, drawing fire from advocates
Federal banking regulators released a Community Reinvestment Act (CRA) proposal Friday that narrows how banks earn credit for community development while raising asset thresholds for small and midsized institutions.
Medicare Part D support cut amid rising retiree costs
The Trump administration announced it will end a temporary Medicare Part D premium stabilization program after the 2026 contract year.
Chris Gallo enters guilty plea in federal mortgage fraud case
Chris Gallo, once one of the nation’s top mortgage loan officers, has pleaded guilty to conspiracy to commit bank fraud in federal court in New Jersey, according to court filings.
Pennymac profit drops in Q2 as rates bite, layoffs follow
Pennymac posted Q2 net income of $22 million, down 84% YoY, as lock volume fell 18% and adjusted ROE slipped to 7%.
Here’s another example of how proprietary loans are driving growth for the reverse mortgage market
Proprietary reverse mortgages drove industrywide volume to $9.65B in 2025 as HECM volume stalled and higher rates shifted product economics.
Couples can boost retirement savings with one simple conversation
Research found that just over 40% of couples actively coordinate their 401(k) contributions to maximize employer matching funds.
loanDepot picks Miami for new tech and fulfillment corporate center
loanDepot will open a new corporate center in Miami in September, establishing an East Coast hub that expands its national footprint and centralizes key corporate functions.
Don’t fall for a fake foreclosure crisis
A 21% rise in foreclosures reflects normalization, not a crisis, as new listings stay low and homeowner equity remains high.