Industry News
Coming Up:
Union Home Mortgage Confirms Staff Reductions
Mortgage brokerage did not release the number of jobs eliminated.
Battle Brews Over Big Bucks Landlords
Heat building on Wall Street single-family home investors, and on Fannie Mae and Freddie Mac for investors in general
NMP
CrossCountry Mortgage To Acquire LendUS
CrossCountry confirms deal; terms not disclosed.
New York Community Bancorp, Flagstar Bancorp Delay Merger To October
Companies amend the merger agreement to provide that the combined company's banking operations will operate under a national bank charter.
CFPB: Forbearance Programs Worked
A significant number of homeowners have transitioned out of forbearances over the last year
Mortgage Banker
Freddie Mac Earnings Up 37% In 1Q 2022
New business activity, however, was down 43% YOY as refinance activity moderated.
Mortgage Applications Down, Interest Rates Up
The recent decrease in purchase applications is an indication of potential weakness in home sales in the coming months.
Flagstar Bancorp 1Q Earnings Down 64% YOY; Cut 20% Of Mortgage Staff
CEO says he is optimistic about 2022 after the bank navigated a 'transitionary period' in the first quarter.
Profit Margins Fall For Home Builders & Balance Sheets Grow
Nationwide survey of single-family builders revealed profitability benchmarks for the home building industry.
Rocket Looks To Cut 8% Of Workforce
Detroit-based Rocket Mortgage and Amrock, its title company, are offering voluntary buyouts.