loanDepot is making more leadership changes following the return of founder and majority stakeholder Anthony Hsieh as CEO. Tom Fiddler has been promoted to president of retail lending while Dan Peña will serve as president of partnership. John Bianchi, the executive vice president of retail production since 2019, will depart the company. These moves come […]
loanDepot shakes up leadership after Hsieh’s comeback Read More »
loanDepot on Thursday reported that its second-quarter 2025 revenue increased by 3% to $283 million and adjusted revenue increased 5% to $292 million compared to the prior quarter. loanDepot’s first quarter saw the return of loanDepot founder and executive chairman Anthony Hsieh to the day-to-day operations at the California-based lender. The company’s second quarter marks the first quarter that Hsieh
With Hsieh in the driver’s seat, loanDepot posts revenue of $283M Read More »
President Donald Trump announced Thursday that he will nominate Stephen Miran — his top economic adviser — to fill a vacant seat on the Federal Reserve‘s Board of Governors following last week’s resignation of Adriana Kugler. Miran, who currently chairs the White House Council of Economic Advisers, is being appointed to serve the remainder of
Trump taps economic adviser Stephen Miran for Fed board seat Read More »
Cypress Loan Servicing has reached a $2 million settlement with the Massachusetts Attorney General’s Office (AGO) over allegations that it violated state foreclosure prevention and consumer protection laws. According to the AGO, Cypress — formerly known as Rushmore Loan Management Services — allegedly put homeowners at unlawful and unnecessary risk of foreclosure by violating Section
Cypress Loan Servicing settles foreclosure case for $2M Read More »
Today, we had another new low in mortgage rates. It was nothing too drastic, just a 0.2% drop from 6.57% to 6.55%, but it’s on a day that the 10-year yield is currently flat to higher, which means mortgage spreads made the difference today. Just like in 2024, mortgage spreads don’t always get the recognition
Better mortgage spreads lead to the lowest rates of 2025 Read More »
Better Home & Finance Holding Co. announced its second-quarter 2025 earnings on Thursday. The company revealed that it’s still operating at a loss, but it showed clear improvement in the second quarter as revenue grew, loan volume rose and its tech offerings expanded. In its earnings call on Thursday, Better disclosed a $36 million net
Better’s losses are shrinking. It could break even by late 2026 Read More »
The U.S. Department of Housing and Urban Development (HUD) is cleaning up its books and auctioning off roughly $444 million in reverse mortgages on Wednesday to reduce the risk to its Mutual Mortgage Insurance (MMI) Fund. The sale includes about 1,600 Home Equity Conversion Mortgages (HECMs) tied to vacant single-family homes where the borrowers are
HUD is auctioning off 1,600 HECMs — with more to come Read More »
Boston-based Hometap announced at the end of July that it has deployed more than $2 billion to 20,000-plus homeowners through its home equity investment (HEI) platform. The milestone comes less than 18 months after Hometap achieved $1 billion in home equity investments — a reflection of rising demand for alternative financing solutions. “This milestone reflects
Hometap says it’s only ‘scratched the surface’ with home equity investments Read More »
Mortgage applications don’t always fail with a formal rejection — many simply stall. A report released last month by Cotality found that homebuyer hesitation often predicts loan fallout, even without an official withdrawal. As a result, the property analytics firm found that 16% of buyers “ghosted” their mortgage applications last year — a trend attributed
Abandoned mortgage apps are on the upswing. Homebuyer confusion could be the culprit Read More »
UBS Group said on Monday that it will pay $300 million to settle lingering obligations tied to a Credit Suisse deal with the U.S. Department of Justice (DOJ) over the sales of residential mortgage-backed securities (RMBS). UBS inherited the obligations when it acquired Credit Suisse in a 2023 rescue arranged by Swiss regulators. The bank
UBS will pay $300M to settle Credit Suisse case Read More »