Real Estate Broker/Agency News

Rocket offers voluntary buyouts to 8% of workforce

Rocket Companies CEO Jay Farner Even the biggest mortgage players aren’t immune to the effects of higher rates and tight housing inventory. Rocket Companies, the parent of Rocket Mortgage and Amrock Title, said late Monday that it would be offering buyouts to 8% of its staff at its mortgage operations

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The crypto-mortgage is the new kid on the block

A rising player in the world of crypto-mortgages and blockchain-enabled financing, LoanSnap, plans to expand its reach in the market by opening its lending platform to licensed mortgage brokers across the country in the near future. Karl Jacob, CEO and co-founder of LoanSnap, said the cyrpto-mortgage system his company has developed

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FHFA gets blowback on proposed liquidity requirements

During the market disruption in March 2020, the value of mortgage servicing rights became temporarily disconnected from mortgage rates. Large mortgage sellers and servicers faced severe margin calls, and it took several weeks for them to get the go-ahead from the Federal Housing Finance Agency to draw on their liquidity

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CrossCountry strikes a deal to acquire LendUS

Ohio-based CrossCountry Mortgage has entered into an agreement to acquire California-based retail lender LendUS, multiple sources familiar with the deal told HousingWire.  Founded in 2003 by mortgage broker Ron Leonhardt, CrossCountry originated $52 billion in mortgages in 2021, up 22% year-over-year, checking in as the 17th biggest lender in the

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Jim Linnane tapped to lead retail mortgage lending at Flagstar

Jim Linnane, the former head of retail at Stearns Lending, has joined Flagstar Bank as the president of the company’s distributed retail mortgage division. Linnane, who worked at Wells Fargo for 15 years and also ran national sales at Guaranteed Rate, will head Flagstar’s efforts in strategy, sales, growth, recruitment

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