Nonbank mortgage companies will remain under pressure in 2024: Fitch: Though analysts at Fitch Ratings expect mortgage rates to drop before the end of 2024, it won't drive significant refi volume. dlvr.it/SyC78h

Mr. Cooper hit with consumer class-action lawsuits over cyberattack : Mr. Cooper Group is the target of at least four consumer class-action lawsuits after disclosing a cyberattack at the end of October. dlvr.it/SynF8h

Citizens Bank to exit the wholesale channel: Rhode Island-based Citizens Bank has decided to close its wholesale channel, which produced about $1 billion in origination volume in the first half of 2023. dlvr.it/Syt5QN

Movement sues Summit, former veteran sales executives for poaching: The transition of three sales executives from Movement Mortgage to competitor Summit Funding in July led to a legal battle over poaching. dlvr.it/SyzJxn

CMG Financial adds Shamrock’s $300M-plus origination team: California-based CMG Financial announced the integration of Shamrock Home Loans' origination team to enhance its presence in New England. dlvr.it/Sz7lCw

Thrive Mortgage and Lower strike merger deal: Combined, Thrive Mortgage and Lower.com have originated about $3.3 billion over the past 12 months, according to Modex data. dlvr.it/T07lsy

Loan officers are dramatically cutting their pay to win clients. It’s often illegal. : HousingWire interviewed more than a dozen loan officers, mortgage executives, attorneys to shed light on the practice of LOs falsifying lead sources to gain a pricing… dlvr.it/T0PtYk

Mortgage apps uptick spreads optimism on a refi recovery: Analysts view the forward curve and recent reductions in the mortgage rate as signs of life for a potential refi recovery. dlvr.it/T1WK6V

AIME names Jonathon Haddad as new CEO and chairman dlvr.it/T1t19K

NewRez restructures retail division, cuts senior managers: Lender is restructuring its distributed retail mortgage division, which has resulted in cuts to senior managers and is sending LOs looking for new work. dlvr.it/T2BL2l

G-Rate sued for gender discrimination, sexual harassment, unpaid comp: A former Guaranteed Rate LO is suing the lender and two managers for allegedly discriminating against her on the basis of gender, failing to compensate her equal to male co-workers,… dlvr.it/T5hF80

Freddie Mac’s proposed home equity product could unlock $850B in originations: Bank of America strategists also say that the absence of a robust securitization market could limit the potential of these second-lien loans dlvr.it/T5kfGw

Ginnie Mae President Alanna McCargo to resign: Alanna McCargo announced her resignation from the top post at Ginnie Mae effective May 3 dlvr.it/T5ky1H

Homeownership costs jumped 26% since start of pandemic: Bankrate: The average cost of homeownership has increased by 26% over the past four years to more than $18,000 annually, per Bankrate’s Hidden Costs of Homeownership study.  dlvr.it/T85Cj1

OceanFirst Bank to acquire Garden State Home Loans dlvr.it/TBPtwg

UWM sells MSRs, invests in origination to prep for a refi wave dlvr.it/TBZPcn

CMG Financial founder to acquire Greenwoods State Bank dlvr.it/TBg7Gz

HomeLight raises $20M to expand Buy Before You Sell product dlvr.it/TCPDDd

Buried in the Onity Group ($ONIT) earnings, and unearthed by Flávia Furlan Nunes is an easter egg we should all be paying attn to –> "The firm is also leveraging artificial intelligence to improve efficiency. Messina noted that AI-powered data extraction has now been deployed in more

⚖️❗ Ex-Fannie Mae employees sue for defamation, alleging fraud claims were false Forty-one former staffers fired in April claim Fannie Mae and FHFA Director Bill Pulte publicly labeled them fraudsters—without evidence—and are suing for defamation and seeking over $82 million in