A borrower in forbearance gets the wrong information about their reinstatement options. It came from an automated servicing communication, routed through a system nobody fully owns and nobody fully monitors. By the time someone catches it, hundreds of borrowers have received the same message. Some acted on it.  Now there’s a reporter making calls.  Who […]

Applications for government-guaranteed or insured mortgages made up almost one-third of the week’s volume for the period ended May 1, the Mortgage Bankers Association said. Processing Content Rates for these loans tend to be lower. The Mortgage Bankers Association only provides rate data for the Federal Housing Administration-insured loan, which averaged 6.12% for the week,

Rocket Cos. came oh-so-close to reclaiming the top spot among mortgage originators in the first quarter. Processing Content The company, which acquired Redfin and Mr. Cooper last year, had closed loan volume of $44.7 billion. Its Detroit rival, United Wholesale Mortgage, ended the period with $44.9 billion. Pennymac trailed with $37 billion. But when asked