Some large mortgage companies reportedly have high retention rates, but the industry average is a different story, according to Mortgage Bankers Association data. https://www.nationalmortgagenews.com/news/tech-wave-addressing-a-drop-in-retention-to-historic-low
NextGenMortgage
Rocket posts $233 million net loss in 4Q
The megalender and servicer Rocket reported annual origination volume in 2023 of $78.7 billion, a 40% decline from 2022. https://www.nationalmortgagenews.com/news/rocket-companies-posts-233-million-net-loss-in-q4
As spring arrives, lenders adjust to a changing marketplace
Despite limited inventory and rising prices, buying interest appears robust heading into peak season, but lenders are likely to find a more discerning consumer https://www.nationalmortgagenews.com/news/home-lenders-adjust-to-a-changing-mortgage-marketplace-as-spring-arrives
Mortgage credit rises for first time in three months
An increase in conventional lending products drove the upturn, but the overall reading of the Mortgage Bankers Association index still landed near the longtime low from late 2023. https://www.nationalmortgagenews.com/news/mortgage-credit-rises-for-first-time-in-three-months
UWM files suit against creator of Facebook group for brokers
The wholesale lender wants its logo removed from the Facebook page and for Ramon Walker, the creator of the page and owner of Client Direct Mortgage, to pay over $100,000 in outstanding EPO. https://www.nationalmortgagenews.com/news/uwm-files-suit-against-creator-of-facebook-group-for-brokers