loanDepot receives NYSE notice over sub-$1 share price
NYSE gives the nonbank lender six months to lift its share price
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TWO wins final regulatory approval for CCM deal
TWO shareholders to receive $12 per share in cash plus stub dividend
Luminate Bank acquires select assets of First State Mortgage Services
Luminate adds volume and a larger Midwest presence
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.
FHA proposes partial claim model that drops subordinate liens
The Federal Housing Administration (FHA) is proposing a new structure, called Reinstatement Advance Payment (RAP), that would change how servicers document and service partial claims and payment supplements.
UWM broker ultimatum tied to 5 bps price drop at rivals
United Wholesale Mortgage’s 2021 move to bar its broker partners from also sending loans to Rocket Mortgage drove an average price decrease of 5 basis points per loan at companies not targeted by the policy, according to a new academic paper.
Mortgage and real estate battle for the top of the funnel
With interest rates in a higher-for-longer environment, mortgage and real estate companies have realized that long-term survival requires market share growth via M&A.
Secondary mortgage market waits for data, creates workarounds amid shift to alternative credit scores
In the secondary market, investors and credit rating agencies are awaiting additional performance data while developing workarounds to keep loans moving through the system.
Achieve expands fixed-rate HELOC with $700,000 cap
Achieve raised its fixed-rate HELOC cap to $700,000 and lowered the starting APR to 5.5%, with up to 90% LTV and 50% DTI.
Mutual of Omaha remains No. 1 as HECM endorsements fall 4.7% in May
May HECM endorsements fell to 1,967, down 4.7% from April. Mutual of Omaha Mortgage led with 423 and a 21.5% market share.