Originations

Rocket Mortgage's acquisition of Redfin has been mischaracterized as harming competition in the mortgage lending space. The truth is that it could be a major boon for mortgage borrowers.

Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.

Although credit bureaus have collected this data for three years, it's only now being factored into assessments of consumer creditworthiness.

Bill Pulte's social media posts saying inflation has fallen far enough added to intensified political pressure on the independent Federal Reserve chairman.

Even with the four basis-point drop, the 30-year fixed rate mortgage remained at levels last seen in February as the Spring homebuying season reaches its climax.

The increase in purchase mortgage rate lock volume provides support for those looking for a strong Spring market this year, Optimal Blue found.

Regulators should approve the deal because post-merger, the servicing market remains fragmented and the mortgage origination business is even more dispersed.

This transaction, following Rocket's purchase of Redfin, could be the start of the creation of large players to compete with the likes of Zillow.

The deal, expected to close by the end of 2025, will place Mr. Cooper CEO Jay Bray as president and CEO of Rocket Mortgage.