A Michigan health official sent an emergency order to Mat Ishbia, CEO of United Wholesale Mortgage and United Shore, after more than 50 employees at the companies’ headquarters tested positive for COVID-19.

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“When the dust settles, I don’t expect lenders to go back to their old ways,” Nancy Alley said. “No one expected or planned for COVID-19’s impact, but we are going to hold on to our collective gains and make sure we are well positioned going forward. What might have taken five to seven years with respect to digital adoption happened almost overnight.”

The post The rapid adoption of digital closings during COVID-19 shows what’s possible in the mortgage industry appeared first on HousingWire.

When the Consumer Financial Protection Bureau released the 2019 Home Mortgage Disclosure Act data there was one key shift that was evident from the start – independent mortgage banks clearly stepped up their game.

The post The rise of IMBs appeared first on HousingWire.

On Thursday, the Office of the Comptroller of the Currency said that it has assessed an $80 million civil money penalty against Capital One N.A., and Capital One Bank (USA) N.A. related to the migration of “significant” IT operations to the cloud.

The post The OCC slaps Capital One with $80M fine over cybersecurity, risk management practices appeared first on HousingWire.

Initial jobless claims fell to 1.2 million last week, declining to a pandemic low that was almost twice as high as the worst measure during the financial crisis.

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By the end of 2020, the company said it plans to expand its real estate operations in France, India, Mexico, Portugal and South Africa.

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The average U.S. rate for a 30-year fixed mortgage fell to an all-time low of 2.88% this week, the eighth time in 2020 the weekly rate has set a record in a Freddie Mac series that goes back almost five decades.

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Whatever plan Congress comes up with to extend or replace the extra $600 a week in beefed-up jobless benefits is likely to be retroactive.

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New York Time best-selling author Todd Duncan explains why confidence is key in his fourth principle in the series, “5 Irrefutable principles of high-performance mortgage and real estate practices.”

The post [PULSE] Competence leads to confidence – Confidence leads to consistency appeared first on HousingWire.

Rocket Companies, parent company of Quicken Loans, is expected to price its initial public offering (IPO) at a significantly lower price than originally anticipated, according to multiple reports.

The post Quicken Loans parent Rocket Companies reportedly slashing IPO from as high as $3.3 billion to $2 billion or less appeared first on HousingWire.