Sarah Wolak

Hartford

News Reporter at HousingWire

Staff writer and editor at American Business Media

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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?
Mr. Cooper's subservicing clients face a dilemma

3 weeks 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.
Rocket’s 'Apple of homeownership' flywheel is getting more complex

3 weeks 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.
CFO optimism falls as tariffs, trade policy remain uncertain

4 weeks ago | housingwire.com | Sarah Wolak

CFO optimism about their firm’s financial prospects dipped as one-third of the 400 respondents shared concerns about trade policy or tariffs.
Rocket's $1.75B purchase lead conversion question

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

It seems that everyone in mortgage and real estate has an opinion about Rocket Mortgage‘s pending $1.75 billion deal for Redfin. At the ICE Experience 2025 conference, the halls of the Wynn casino were replete with downright spicy takes. “It won’t do much now because their market shares are relatively small, but in a couple years they’re going to have a wall of scalps,” said one attendee.
Trump rescinds freeze on federal grants, foreign aid

2 months ago | housingwire.com | Jeff Andrews |Sarah Wolak

The federal funding freeze has melted. The Trump administration circulated a new memo on Wednesday that rescinds a previous memo released on Monday that put a sweeping funding freeze on federal grants and foreign aid. The new memo — which is addressed to federal agencies — is two sentences long, one announcing that the previous memo is rescinded and the other directing any questions about Trump’s executive orders to the agency’s general counsel.
UWM extends its 60-bps incentive program into spring

2 months ago | housingwire.com | Sarah Wolak

Michigan-based United Wholesale Mortgage (UWM) has extended its 60 basis points (bps) pricing incentive until March 31 “due to its strong success and the substantial competitive edge it’s offered independent mortgage brokers in today’s market,” a spokesperson from UWM confirmed. The was originally only available through January 31 and was intended for the slow mortgage market activity period which is attributed to the holiday season.
Rocket Pro hires Katie Sweeney as EVP of broker advocacy

2 months ago | housingwire.com | Sarah Wolak

Rocket Pro has hired Katie Sweeney, formerly CEO at the Broker Action Coalition (BAC), as its executive vice president of strategy and broker advocacy. Rocket Pro confirmed the news in an email to HousingWire Wednesday. A spokesperson from the company wrote “Katie has dedicated her career to helping improve and grow the broker community through leadership positions at ARIVE, AIME and Broker Action Coalition (BAC).
Mortgage applications drop over MLK holiday, inauguration week

2 months ago | housingwire.com | Sarah Wolak

The Market Composite Index, a measure of mortgage loan application volume, decreased 2.0% on a seasonally adjusted basis from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) latest weekly mortgage applications survey. This week’s results for the week ending Jan. 24, 2025, include an adjustment for the Martin Luther King holiday. On an unadjusted basis, the index decreased 9% compared with the previous week.
Concierge Auctions and Luxury Presence team up on marketing

2 months ago | housingwire.com | Sarah Wolak

Luxury real estate auction house Concierge Auctions has entered a co-marketing partnership with proptech startup Luxury Presence, announced today. The collaboration offers Luxury Presence’s clients the ability to promote upcoming auctions, in addition to using the Concierge Auctions platform as a tool in the buying and selling of high-end listings, according to a press release.