As mortgage heads from UWM and Rocket fight it out in the press, it seems like both agents and consumers are just wondering how they’re going to pay the bills.
Category: Rocket Mortgage
United Wholesale Mortgage defends its business practices
Citing recent court victories, UWM says, “It is not uncommon nor illegal for a broker to send most or all of their business to a specific lender.”
NAR settlement may disrupt mortgage partner agent programs
If homebuyers are no longer willing to pay full commissions, what happens to lender programs that incentivize consumers to work with partner real estate agents?
Shares in Rocket up after hours as investors roll with $233M Q4 loss
Mortgage giant reports positive adjusted earnings for the third consecutive quarter, “despite some of the most difficult industry conditions in three decades,” CEO Varun Krishna says.
Airbnb vet Jonathan Mildenhall to unify Rocket’s marketing efforts
The company’s first group CMO will be responsible “for creating a unified and compelling voice for all businesses” under the Rocket umbrella, including Rocket Mortgage, Rocket Homes and Rocket Money.
Rocket’s new CEO Varun Krishna takes seat on board of directors
The mortgage lending giant’s board of directors has been expanded from seven members to eight to accommodate the move. Krishna’s term will expire at the company’s 2026 annual meeting.
Rocket Homes app puts listings on your car’s infotainment screen
Integration with Apple CarPlay turns the commute “into an exciting and natural part of the homebuying journey” — unless you drive a Tesla.
Automating verifications lets loanDepot OK loans in minutes
After months of beta testing, the melloNow underwriting engine can analyze credit reports, detect fraud, and validate income and employment data without human assistance.
Tough times for mortgage lenders? UWM hired 1,000 employees in Q3
While others are downsizing, the nation’s biggest mortgage lender is investing in new technology and hiring new team members to be prepared if mortgage rates come down and business booms.
More lenders raise their conforming loan limit to $750K
Following Rocket’s lead, UWM and Guaranteed Rate say they’ll price mortgages of up to $750,000 as if they’re eligible for purchase by Fannie Mae and Freddie Mac in anticipation of expected 2024 increases.