HousingWireHousingWire New York Attorney General Letitia James is the target of a criminal investigation related to mortgage fraud, following a referral by Federal Housing Finance Agency (FHFA) Director Bill Pulte, multiple news outlets reported Thursday. The U.S. Department of Justice alleges that James falsely claimed she intended to make a…
Continue reading →HousingWireHousingWire The expense associated with originating mortgage loans has been escalating, with the current average cost approximating $11,600 per loan. A substantial component of this expense is attributed to Loan Officer Compensation (LO Comp), which typically constitutes 1% to 2% of the loan amount and represents nearly half of the…
Continue reading →HousingWireHousingWire The heated debate around the Clear Cooperation Policy (CCP) has roiled the real estate brokerage space as a result of fierce pushback on the rule from Compass. But company CEO Robert Reffkin has a question amid what he characterized as “negative narratives and scare tactics.” What’s the downside for…
Continue reading →HousingWireHousingWire Lower rates helped Detroit-based Rocket Companies, the parent of Rocket Mortgage, improve its originations in the first quarter of the year — a period also marked by the announcement of two major acquisitions in Redfin and Mr. Cooper. But the second quarter is expected to look different. While the…
Continue reading →HousingWireHousingWire Despite a slowdown in overall Home Equity Conversion Mortgage (HECM) volume in the first quarter of 2025, Longbridge Financial contributed positively to parent company Ellington Financial. Overall performance at Ellington saw $31.6 million in net income to common stockholders, up from $22.4 million the prior quarter. Longbridge posted a…
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