Mortgage

JPMorgan lays off mortgage staffers, Flagstar knowledge breach revealed and extra of this week’s high tales

United Wholesale Mortgage new Game On makes a 0.5 percentage point to 1 percentage point cut across all product types UWM offers. If past cycles are an indication, some of UWM’s competitors are likely to drop their own pricing; but leadership from Rocket Mortgage’s competing channel was unperturbed.

“While others have incentives that bring them inside and outside of the market, one of the main reasons we are the fastest growing lender serving brokers is because we are one of the most consistently competitive priced lenders in America,” executive vice president of Rocket’s wholesale division Austin Niemiec said in a statement. “One of the ways Rocket Pro TPO stays competitive is by making adjustments to make sure our broker partners are in a position to win against others in the market and we will continue to do that.”

Read the full story here.

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