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Vandy Fartaj stepping down to be replaced by company vet William Chang

Says it 'would drive up costs, reduce innovation, and reduce lenders’ choices.'

Reports $163.7M loss for the full year.

Rates climb closer to 7%; reach level not seen since November.

Filing claims Michigan broker diverted $1.6M in proceeds.

Says drastic changes, including winding down its TPO channel, are intended to help it 'navigate current market conditions.'

Perry Hilzendeger is a former exec with Homepoint and Wells Fargo.

Also reported a net loss of $610.4M for all of 2022; ousted founder in proxy fight says board needs 'a fresh perspective'

Cryptocurrency lender halted its warehouse mortgage operation 2 months ago.