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Rocket returns to profitability in Q2, yields early benefits from Redfin deal

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Rocket Companies, the parent of Rocket Mortgage, has returned to profitability despite a challenging second quarter for the mortgage industry, marked by economic uncertainties in the U.S. The company is now focusing on integrating the recently acquired real estate brokerage firm Redfin, which has already shown early benefits. In the second quarter, Rocket reported a […]

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Mortgage application payments decline in June

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Homebuyer affordability improved in June, as evidenced by the national median payment for purchase mortgage applicants decreasing to $2,172 — down from $2,211 in May. That’s according to the Mortgage Bankers Association (MBA)’s Purchase Applications Payment Index (PAPI), which measures how new monthly mortgage payments vary across time relative to income, using data from MBA’s

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ICE links MSP and Encompass to unlock home equity, refi loans

Encompass, Home Equity, Home equity loans, HWmember, ICE Mortgage Technology, LendingLife, Mortgage, Mortgage Servicing, Refinancing, Technology /

ICE Mortgage Technology’s new integration of its servicing and origination platforms reflects a broader trend in the mortgage industry — offering home equity loans while rates remain high and preparing for refinances as rates begin to decline. The same logic underpins deals such as Rocket Companies’ acquisition of Mr. Cooper Group and Bayview Asset Management’s

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Anthony Hsieh reclaims the helm at loanDepot

Anthony Hsieh, HWmember, Lenders, LendingLife, loanDepot, Mortgage, Origination, People Movers, Team Leaders /

Anthony Hsieh is back in the CEO role at loanDepot — the company he founded in 2010 — on a permanent basis. His focus will be on returning the mortgage lender to profitability and regaining market share, the company announced on Monday.  Hsieh stepped down as CEO in April 2022 and was succeeded by industry

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Rithm Capital delays Newrez public listing, eyes M&A opportunities

Earnings, HWmember, LendingLife, Mortgage, Mortgage Servicing, NewRez, Origination, Subservicer /

Rithm Capital, the parent of multichannel mortgage lender Newrez, said it’s not currently moving forward with plans on an initial public offering for the subsidiary as it focuses on supporting the firm’s broader portfolio. Instead, the firm is turning its attention to mergers and acquisitions, even amid macroeconomic uncertainty. “First of all, we spent a

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Senate Democrats press FHFA on crypto use in mortgages

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Five Senate Democrats are raising concerns about the potential risks of using unconverted cryptocurrency assets in mortgage underwriting, urging the Federal Housing Finance Agency (FHFA) to tread carefully. In a letter addressed to FHFA Director Bill Pulte, the senators reacted to his social media post from late June, in which Pulte said the agency is

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PennyMac, the top dog in correspondent, says its broker business is booming

Earnings, LendingLife, Mortgage, Mortgage Servicing, PennyMac, Servicing /

PennyMac Financial Services Inc. (PFSI) on Tuesday reported net income of $136.5 million for Q2 2025 on revenue of $444.7 million, which executives attributed to big strides made in the broker channel and a servicing portfolio that has surpassed $700 billion UPB. During the earnings call, CEO and Chairman David Spector commented that PennyMac was experiencing

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HomeStreet to sell $794M in Ginnie Mae MSRs

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Seattle-based HomeStreet Bank has agreed to sell its $794 million Ginnie Mae loan servicing portfolio to an undisclosed “experienced” buyer, the company announced in a regulatory filing. The transaction is scheduled to close on August 1.  “As HomeStreet carried this servicing portfolio at current market value at June 30, 2025, no gain or loss is

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Rocket lays off 2% of workforce after closing Redfin acquisition

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Detroit-based Rocket Companies confirmed a company-wide layoff on Friday, just weeks after completing its $1.75 billion all-stock acquisition of real estate brokerage Redfin. The cuts affected roughly 2% of the firm’s workforce. “Following the Redfin acquisition, we carefully reviewed our combined structure, identified overlapping roles and made the difficult decision to streamline teams,” a spokesperson

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MMI unveils conversational AI for mortgage loan officers

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Mortgage technology company Mobility Market Intelligence (MMI) announced on Monday its launch of ChatMMI, which claims to be the industry’s first conversational artificial intelligence interface built specifically for lenders, recruiters and other mortgage professionals. The tool allows MMI users to skip dashboards and spreadsheets to directly ask questions via a chat function. The company said

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