Key insight: Upstart expects to move most or all of its loan originations into the national bank it plans to open in early 2027, taking that work from the banks that serve as lender of record today. What’s at stake: Upstart paid its originating banks $11.2 million in premium and trailing fees in the first […]
Who loses when Upstart becomes its own lender? Read More »
Key takeaway: Industry advocates believe the proposed rule changes are game-changers that could result in the formation of new mutuals, while also convincing some credit unions to consider switching charters. Forward look: The Federal Reserve is accepting comments on the proposed changes through Oct. 5. Expert quote: “This is smart regulation and largely well thought-out,”
Mutual advocates hope new rules can halt sector’s long slide Read More »
A brokerage fighting United Wholesale Mortgage’s All-In mandate is trying to poke holes in how the company calculated penalties for breaches of the policy based on testimony by UWM employees. Processing Content District Lending is countering UWM’s motion for summary judgment in the lender’s lawsuit to penalize the brokerage for allegedly selling loans to Rocket
Brokerage says UWM depositions poke holes in All-In’s math Read More »