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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,” […]

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

Key insight: Federal Reserve Gov. Lisa Cook reiterated an earlier position that she is ready to raise interest rates, but added more insight into why she did not vote in favor of a hike at last week’s FOMC meeting. Expert quote: “The longer inflation is above target, the more likely this scenario becomes. Thus, while