Maria Volkova

Rockville

Technology Reporter at National Mortgage News

Technology reporter for @NatMortgageNews A little scrappy/ Scoops McGee Drop me a line: [email protected]

Articles

UWM accused of predatory business practices by Ohio AG

1 week ago | nationalmortgagenews.com | Maria Volkova

The state of Ohio is accusing United Wholesale Mortgage of "duping" thousands of its residents via an alleged scheme between the megalender and "loyalist brokers" to only do business with the company. As a result, Ohioans have been pushed into paying "millions of dollars in improper fees and excessive interest rates on their mortgage loans," a suit filed by Ohio Attorney General Dave Yost claims.
Bank CEOs hope lax regulations boost their mortgage business

1 week ago | nationalmortgagenews.com | Maria Volkova

Depository institutions, which largely pulled back from the mortgage market following the Great Recession, are hoping the Trump administration will make it easier for banks to originate loans. In recent weeks, heads of JPMorgan Chase, Wells Fargo and Bank of America made statements calling for more lax regulations pertaining to loan origination, servicing and securitization.
Rocket Pro to join ARIVE loan origination platform

1 week ago | nationalmortgagenews.com | Maria Volkova

Rocket Pro is increasing its visibility to potential broker partners with its planned debut on the ARIVE loan origination platform, a technology used by thousands of originators. Starting April 22, the broker community will have access to Rocket Pro's real-time pricing, interest rates and product information via ARIVE, a press release Wednesday said.
Equity Prime Mortgage underwriter sues over OT pay

1 week ago | nationalmortgagenews.com | Maria Volkova

A former Equity Prime Mortgage underwriter is accusing the Georgia-based lender of failing to pay her and those in a similar position for overtime hours worked. According to litigation filed in a federal Georgia court, EPM "willfully" violated federal and state laws by not compensating underwriters who worked over 40 hours weekly.
Better restructures financing agreement with Softbank

1 week ago | nationalmortgagenews.com | Maria Volkova

Better Home & Finance announced Monday it is restructuring its $530 million convertible note arrangement with its financier Softbank made two years prior. The mortgage lender will front a $110 million one-time cash payment to its lender and a $155 million new senior secured note by SB Northstar LP, a Softbank subsidiary, will be issued due Dec. 31, 2028, per a press release. The new note will accrue interest at a rate of 6% per annum.
How wholesale mortgage leaders think regulations will unfold

1 week ago | nationalmortgagenews.com | Maria Volkova

Even with a pro-business regulatory shift, mortgage professionals cannot afford to be complacent, wholesale stakeholders cautioned during the Broker Action Coalition advocacy conference. A lively panel made up of three executives from The Loan Store, Paramount Residential Group and Newfi Wholesale discussed how the changing political landscape will push state regulators to the forefront of patrolling the mortgage industry.
Trigger lead legislation reintroduced in Congress

1 week ago | today.westlaw.com | Maria Volkova

Trigger lead legislation was reintroduced in the House and Senate Thursday, signaling that a nationwide ban could be near. A measure to prohibit credit bureaus from selling consumer data when mortgage credit reports are pulled came close to passing...
Rocket's Katie Sweeney eyes big broker advocacy moves

1 week ago | nationalmortgagenews.com | Maria Volkova

Katie Sweeney joined Rocket Pro to run the firm's advocacy efforts fully aware that her move might raise a few eyebrows. "I think there were a lot of questions when I joined the team, and I understand why," Sweeney said Wednesday.
Trigger lead legislation reintroduced in Congress

2 weeks ago | nationalmortgagenews.com | Maria Volkova

Trigger lead legislation was reintroduced in the House and Senate Thursday, signaling that a nationwide ban could be near. A measure to prohibit credit bureaus from selling consumer data when mortgage credit reports are pulled came close to passing late last year, but was ultimately stripped from the National Defense Authorization Act at the last minute. Rep. John Rose, R-Tenn., and Ritchie Torres, D-N.Y., introduced a version of a trigger lead bill in the House, while Sen.
Rocket Pro becomes sponsor of Broker Action Coalition

2 weeks ago | nationalmortgagenews.com | Maria Volkova

In a move that underscores Rocket's growing influence in the broker space, Rocket Pro has become the first major lender to sponsor the Broker Action Coalition, the trade group announced Wednesday at its advocacy summit in Washington, D.C.The move comes just months after former BAC CEO Katie Sweeney took the reins of advocacy at Rocket— as the Detroit-based lending giant doubles down on its bid to become the go-to partner for mortgage brokers.