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.
Origination
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Land leases, ARM buydowns emerge as lending options while mortgage rates stay elevated
Mortgage lenders are getting creative to combat the housing affordability crisis fueled by rising interest rates, rolling out novel products and blending existing options to keep borrowers in the market.
FHA turns attention to the ‘flipping rule’ and AVMs
FHA signals push to repeal its 90-day anti-flipping rule and update AVMs, while new loss-mitigation rules are tied to $2 billion in savings.
How loan officers are saving deals as mortgage rates cross 6.6%
Loan officers are shifting their playbooks to keep deals alive as mortgage rates climb north of 6.6%.
Linkhome signs deal for Mortgage One Group to expand AI-driven lending footprint
Linkhome will acquire Mortgage One Group to integrate AI into origination, adding 18-state licenses, eight branches and an $18 million warehouse line of credit.
Rocket beats earnings guidance with strongest quarterly profit in four years
Rocket Companies reported its most profitable quarter in four years as artificial intelligence initiatives, a larger servicing portfolio and recent acquisitions helped the Detroit-based firm grow market share despite a choppy mortgage backdrop.
PennyMac Q1 earnings: Strong mortgage production offsets weaker servicing results
PennyMac earned $82.3M in Q1, adjusted $117.7M. Production pretax income rose, while MSR hedges hit servicing.
UWM challenges Two Harbors board over rejection of $12 per share bid
UWM Holdings Corp. is challenging Two Harbors Investment Corp.’s board after it rejected a $12 per share acquisition proposal in favor of an $11.30 per share deal with CrossCountry Mortgage LLC.
The Gathering: How is AI reshaping mortgage lending and servicing?
Pennymac, Fairway and CreditXpert highlight ways for AI to positively impact the mortgage process for current or prospective borrowers.
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.