Flávia Nunes

New York

Mortgage Reporter at HousingWire

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Articles

Bidding wars for mortgage LOs heat up again

4 days ago | housingwire.com | Flávia Nunes

The task would be difficult in any market. But McNaught faces the added obstacle of a fiercely competitive hiring environment driven by the anticipation of a refinance wave that –truth be told– hasn’t really materialized. As a result, bidding wars are back and putting pressure on compensation packages, which places some companies in a difficult position, industry experts told HousingWire. “I always feel compensation is one of those sticky conversations,” McNaught said in an interview.
DOJ to investigate Letitia James over mortgage fraud

1 week ago | housingwire.com | Flávia Nunes

James allegedly signed a document in 2023 granting her niece, Shamice Thompson-Hairston, power of attorney to complete the purchase, according to the Washington Post, which cited anonymous sources and obtained records. The Guardian and the Albany Times Union also reported on the matter.
Rocket shifts focus to integration after Q1 growth

1 week ago | housingwire.com | Flávia Nunes

“Let’s start with the housing market, which kicked off on a positive note to start the year,” Varun Krishna, CEO and director of Rocket Companies, said during a call with analysts. Housing inventory improved, reaching four months of supply, and the 30-year fixed mortgage rate declined from 7% in January to 6.6% in March. That briefly improved affordability and sparked some refinance activity, he added.
Fed holds rates steady as it remains in wait-and-see mode

1 week ago | housingwire.com | Flávia Nunes

Mortgage lenders and prospective borrowers looking for relief from high interest rates will need to wait longer. In a widely expected decision on Wednesday, the Federal Reserve kept rates steady at a range of 4.25% to 4.5% following its two-day meeting. This move continues a pause that the Federal Open Market Committee (FOMC) began in January. That came after a series of rate cuts in late 2024 — specifically, a 50 basis-point cut in September and a pair of 25-bps cuts in November and December.
There's a new enforcement playbook for mortgage lenders

1 week ago | housingwire.com | Flávia Nunes

The company recently dealt with an issue related to appraisal independence. There was confusion about whether AnnieMac could use an internal appraisal panel or an external appraisal valuation company. “It went back and forth on the interpretation of the FAQs related to appraisal independence,” Ungaro said. “That was one example.
Lower rates spur refis at UWM, hit MSR valuations in Q1

1 week ago | housingwire.com | Flávia Nunes

The company reported a net loss of $247 million for the quarter, compared to net income of $40.6 million in the previous quarter and $180.5 million in the same period last year. Documents filed with the Securities and Exchange Commission (SEC) show a non-GAAP net loss of $195.3 million during the first quarter of 2025.
How Rate wants to close its 'massive gap' in the non-QM space

2 weeks ago | housingwire.com | Flávia Nunes

In the non-QM segment, Rate originated about $2.8 billion in 2024, which was a “massive gap for us,” according to President Shant Banosian. “[Non-QMs are] something we are super committed to because we have the widest variety and strongest non-QM product offering in the mortgage space,” Banosian said in an interview with HousingWire.
Redwood Trust gains ground in jumbo mortgage market

2 weeks ago | housingwire.com | Flávia Nunes

“This is very much market share,” CEO Chris Abate told HousingWire in an interview. Following the regional banking turmoil in 2023, when institutions like First Republic, Signature Bank and Silicon Valley Bank collapsed, depository lenders began pulling back from holding mortgages on their balance sheets. In turn, Redwood is working to activate the previously “dormant” jumbo market.
PennyMac raises $850M in high-demand debt issuance

2 weeks ago | housingwire.com | Flávia Nunes

The new senior notes, guaranteed on an unsecured senior basis, pay 6.875% per annum and mature on May 15, 2032. The proceeds will be used to redeem senior notes due in October 2025, but they will pay a lower interest rate of 5.375%.
Movement to settle dramatic legal battle with Summit

2 weeks ago | housingwire.com | Flávia Nunes

The case, which involved allegations of employee poaching, misappropriation of trade secrets and corporate espionage, has now reached a settlement but details are still pending, according to court filings. The dispute began in early October 2023, when Movement filed a lawsuit in a U.S. District Court in North Carolina against Summit and three veteran sales executives—Deran Pennington, Matt Schoolfield and Chris Shelton—who had joined Summit in July of that year.