As mortgage rates soared last year, loanDepot saw 2023 loan origination volume plunge by 58 percent from the year before, to $22.7 billion.
Category: mortgage
UWM raises more than $1B by tweaking mortgage servicing
Nation’s largest mortgage lender trims its servicing portfolio by nearly one-fourth, selling $70 billion in mortgage servicing rights for $941.2 million.
Argyle sees path to profitability with $30M Series C raise
Integrations helped the income and employment data provider grow its mortgage customer base and attract backing from Rockefeller Asset Management’s Fintech Innovation Fund.
Brokerages, lenders anticipate big recruitment push in 2024: Triple-I
Approximately 28 percent of brokerage leaders believe “recruiting and retaining talent” will be their most challenging responsibility one year from now, according to results from the Inman Intel Index survey.
‘The mortgage professor’ Jack Guttentag dies peacefully at 100
Guttentag “remained sharp to the end” and continued researching and writing about mortgages until passing away peacefully on Feb. 6.
Shares in Rocket up after hours as investors roll with $233M Q4 loss
Mortgage giant reports positive adjusted earnings for the third consecutive quarter, “despite some of the most difficult industry conditions in three decades,” CEO Varun Krishna says.
Ransomware group claims it was behind loanDepot cyberattack
The FBI has developed a decryption tool to combat the ALPHV/Blackcat ransomware variant, and authorities are offering $15 million in rewards to stop the group.
Strength in home prices helped boost Fannie, Freddie 2023 profits
With a combined net worth of $125 billion after earnings this week, the mortgage giants remain on a path that could lead to eventual release from government conservatorship if political winds shift.
New credit scores from FICO, VantageScore gaining traction
Lenders won’t be required to use the more inclusive FICO Score 10T and VantageScore 4.0 scoring models before next year, but several are already using them to expand the pool of borrowers.
Flagstar mortgages could help NYCB shore up its balance sheet
Troubled New York Community Bancorp is reportedly ready to pledge about $5 billion in home loans originated by Flagstar Bank as collateral for risk transfer that would bolster its capital.