Flávia Nunes

New York

Mortgage Reporter at HousingWire

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Articles

With CFPB gutted, what's next for mortgage compliance?

6 days ago | housingwire.com | Flávia Nunes |Sarah Wolak

“Under the Constitution, the administration does not have the authority to dismantle an agency if it’s funded by Congress,” Colgate Selden, a founding member of the CFPB and an attorney at SeldenLindeke LLP, said in a statement. “The Congress also passed the law for a mission and the president has to execute that mission. If he tries to do things that stop that mission, he’s violating the Constitution. Now, can a court say we need at least 40 people to achieve the mission?
UWM sued by Ohio AG over borrower deception allegations

1 week ago | housingwire.com | Flávia Nunes

Top U.S. mortgage lender United Wholesale Mortgage (UWM) on Wednesday became the target of a lawsuit from the Ohio Attorney General, Dave Yost, who claims UWM conspired with mortgage brokers to steer loans and rip off consumers in Ohio. The case seeks to hold UWM “accountable for orchestrating and executing a deliberate scheme to deceive thousands of Ohio homebuyers into paying millions of dollars in improper fees and excessive interest rates on their mortgages.
Rocket Pro TPO joins ARIVE platform

1 week ago | housingwire.com | Flávia Nunes

made a major move this week by integrating Rocket Pro TPO with ARIVE, a leading software platform used by mortgage brokers. The integration, announced on Wednesday, connects Rocket to a network of approximately 28,000 active users, including 21,000 loan officers who source mortgage offers from multiple wholesale lenders — including Rocket’s chief rival, United Wholesale Mortgage (UWM) — all within a single system. “Our broker partners work with us in a variety of fashions.
Bank of America, Citi warn of mortgage business softening

1 week ago | housingwire.com | Flávia Nunes

Bank of America (BofA) and Citi reported declining mortgage production in the first quarter of 2025 compared to the previous quarter, following similar results from peers Wells Fargo and JPMorgan Chase last week. Mortgage volumes at BofA and Citi, which were attributed to seasonal trends and rising interest rates, are expected to remain challenged in the coming quarters due to ongoing trade tensions and broader macroeconomic uncertainty.
Better to retire $530M in debt through deal with Softbank arm

1 week ago | housingwire.com | Flávia Nunes

Better Home & Finance Holding Co. — the parent of digital mortgage lender Better.com — has restructured about $534 million of its outstanding debt with SB Northstar, the asset management subsidiary of SoftBank, the company announced on Monday. Better is retiring $530 million of outstanding debt accruing interest at 1% annually and due in 2028. In exchange, the company has issued $155 million in new senior secured notes to SB Northstar at a 6% annual interest rate due in December 2028.
Employees at NJ Lenders, post-mortgage fraud scandal, to join Luminate Bank

1 week ago | housingwire.com | Flávia Nunes

Employees at NJ Lenders are joining Minneapolis-based Luminate Bank, following a challenging period at the Little Falls-based nonbank that included criminal charges of mortgage fraud involving two former loan officers in 2024. Rumors of the transition began circulating last week, and both companies confirmed the move on Monday. Financial terms were not disclosed, but the firms emphasized that this is not an acquisition. No loans or assets are being transferred—only employees.
CFPB freezes nonbank registry rule after industry pushback

1 week ago | housingwire.com | Flávia Nunes

“The bureau will instead continue to focus its enforcement and supervision activities on pressing threats to consumers,” the CFPB said in a statement. The proposed rule, introduced in late 2022, requires nonbank entities to report public agency enforcement actions and court orders for inclusion in a nonbank registration system (NBR) – a publicly available online database. The final rule was published in July 2024, with an implementation date of Sept. 16, 2024.
Big banks feel the mortgage squeeze in Q1, hope for deregulation

1 week ago | housingwire.com | Flávia Nunes

While mortgage production remained under pressure at top banks in the first quarter of 2025—aligning with market expectations—uncertainty looms over what the future may hold. Bank executives anticipate negative impacts from the ongoing trade war sparked by President Trump’s increase in tariffs. However, they remain hopeful that a potential deregulatory agenda from the current administration could boost lending activity.
Jumbo market frazzled by trade war volatility

2 weeks ago | housingwire.com | Flávia Nunes

The mortgage market turbulence sparked by the global trade war has hit jumbo loans especially hard. “The equity market tanking has caught several buyers, who are still in the escrow cycle, in a position where they will incur a huge loss if they liquidate their vested stocks, causing serious issues for their down payment,” said Depac Parthi, branch manager at American Pacific Mortgage’s Shining Star Funding branch.
Mortgage rate volatility rises amid trade war, keeping LOs busy

2 weeks ago | housingwire.com | Flávia Nunes

At Mortgage News Daily, rates had risen to 6.85% by Tuesday afternoon, up from 6.63% last week, the lowest level for 2025. The movement was referred to by MND as the “worst 24 hours for rates so far.”Kevin Leibowitz, president of Grayton Mortgage, noted that after improving with the initial drop in the market on Thursday and Friday, mortgage rates reversed on Monday and Tuesday. “Typically (and now), lenders don’t get sharp on pricing until volatility settles down, which it hasn’t,” he said.