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The oversight agency for two government-sponsored enterprises greenlighted plans for industry giant Rocket Cos. to buy megaservicer Mr. Cooper, but only under certain conditions. Fannie Mae and Freddie Mac’s regulator will require the new combined company to have “appropriate financial and operating safeguards.” Their regulator specifically is requiring them to each maintain “strict counterparty risk […]

Lenders like Rocket Mortgage and UWM have reshaped the mortgage industry. Their massive tech stacks and national footprints allow them to manufacture loans at incredible speed and scale. The rest of the industry has responded by layering automation onto existing workflows in an attempt to keep pace. But the challenge isn’t just about speed. It’s