Union Home Mortgage is accusing a Georgia-based married couple of thwarting their noncompete agreement by taking confidential client information to her new employer. According to the complaint, Nathan Duce and Rachel Duce, who previously worked at UHM as a branch manager and loan officer respectively, took customer information from the Ohio-based lender and used it […]
Union Home Mortgage sues couple for trade secret theft Read More »
Loandepot has elevated two executives as it makes changes to its sales and originations divisions, part of an ongoing effort to return to profitability in the wake of disappointing second quarter results this week. Tom Fiddler is stepping up to take on the newly-created position of president of retail lending. Fiddler, who previously oversaw loan
Loandepot shuffles leadership in search for profit Read More »
Left to right: Gregory Buehler, Chris Simms Underwriting mortgage platform Friday Harbor ramped up its growth with two new leadership hires: Chris Simms and Gregory Buehler. The current president of the Mortgage Bankers Association of St. Louis, Simms joins the Seattle-based fintech as head of strategic partnerships, responsible for developing customer relationships and cooperation with
Loandepot, Onity, Cenlar announce leadership moves Read More »
Guild Mortgage saw profits and business volume return to the upside in the second quarter in one of its final earnings reports issued as a publicly traded company. The San Diego-based lender and servicer posted net income of $18.7 million for the three-month period, improving from a $23.9 million loss at the end of the
Guild swings to profit ahead of privatization deal Read More »
A California judge declined to give class action certification to a suit lodged three years prior accusing Wells Fargo of discriminatory practices. In an order dated Aug. 5, U.S. District Judge James Donato, wrote that there is no “glue” to hold together the plaintiffs’ claims to justify the granting of class status. Over 100,000 plaintiffs
Judge nixes class action bid in Wells Fargo redlining case Read More »
A surprising July jobs report, which included downward revisions to early 2025 data, drove mortgage rates to their lowest mark in months, Freddie Mac reported. The 30-year fixed-rate average decreased to 6.63% as of Aug. 7, according to the government-sponsored enterprise’s weekly Primary Mortgage Market survey. The average dropped 9 basis points from 6.72% in
Mortgage rates drop to lowest level this summer Read More »
A Texas federal judge overseeing the data breach suit against Mr. Cooper refused to dismiss the case, as was previously requested by the mortgage servicer. In a recently published order, U.S. District Judge David Godbey, wrote that the court finds the plaintiffs have standing to bring some claims against Mr. Cooper, though others have been
Judge rules Mr. Cooper data breach borrowers have standing Read More »
Figure Technology Solutions is taking another shot at going public, just weeks after announcing that all parts of its operations — including its lending arm and blockchain-powered financial marketplace — will be consolidated into a single company. The fintech firm said Aug. 4 that it confidentially submitted a draft registration statement on Form S-1 with
Figure confirms plans for IPO sometime in 2025 Read More »
Rithm Capital announced it has entered into an agreement to purchase $1 billion worth of loans from lending fintech Upgrade. The forward-flow agreement between the real estate investment trust and the San Francisco-based neobank has Rithm acquiring $1 billion worth of home improvement loans originated and serviced by Upgrade over the coming year. The deal
Rithm buys $1B in home reno loans from Upgrade Read More »
Loandepot has rehired two mortgage professionals who were previously involved in the development of its mello platform, signaling the Irvine, California-based company’s intent to bolster its technology offerings. The public company has named industry veterans Dominick Marchetti as chief digital officer and Sean Dejulia as chief innovation officer. Marchetti, who worked at the lender from
Loandepot brings back mello tech leaders Read More »