Sarah Wolak

1 week ago | housingwire.com | Sarah Wolak |James Kleimann

The first four days in April saw 40% of the applications that month, according to Scott Buchta of Brean Capital. “Rates went down quickly. They bounced back up, but you saw a lot of people come in,” he said. “The thing that surprised us in April actually was the survey. Rates never really got below 6.7%, but you had a big response.”Even as rates have climbed again, Mark Worthington, a branch manager at Churchill Mortgage, said the prep work is key.

3 weeks ago | housingwire.com | James Kleimann |Sarah Wolak

It’s unclear how many were laid off, but sources said it was “massive” and impacted staffers in a variety of roles. Former employees told HousingWire the reason cited for the layoffs was the shaky “economy” and the company’s “bottom line.” Several described the layoff as “abrupt” and a surprise. Dark Matter Technologies, which was formed in 2023 as a subsidiary of Perseus Operating Group, itself a unit of Constellation Software, did not respond to a request for comment.

1 month 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?

2 months ago | housingwire.com | James Kleimann |Sarah Wolak

Although UWM’s move to cancel its contract with Mr. Cooper was widely expected, it’s unclear how other lenders that have servicing contracts with Mr. Cooper will respond to the $9.4 billion deal. Of Mr. Cooper’s $1.6 trillion servicing book as of Dec. 31, 2024, 53% of it was subservicing performed on behalf of other lenders. Roughly 47% of the portfolio contained owned mortgage servicing rights (MSRs) by the Dallas-based company.

2 months ago | housingwire.com | Sarah Wolak |James Kleimann

Rocket Companies’ industry-shaking plan to acquire Mr. Cooper in a $9.4 billion deal comes just weeks after the Detroit-based lender announced its acquisition of real estate brokerage Redfin for $1.75 billion. Rocket CEO Varun Krishna and Mr. Cooper CEO Jay Bray — who is slated to report to Krishna as the president and CEO of Rocket Mortgage — told HousingWire in an interview that the merger is expected to generate $100 million in revenue synergies and $400 million in expense savings.