Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported an average net loss of $2,109 on each loan they originated in the fourth quarter of 2023, according to the Mortgage Bankers Association (MBA). The loss is almost double the reported loss of $1,015 per loan in the

Freddie Mac on Friday announced that its president Michael Hutchins has been appointed interim CEO, effective March 16, but the company continues its search for a permanent appointment. He will replace Michael DeVito, who is retiring after three years in the job. Hutchins, who is a member of the com

Optimal Blue has brought on Sara Holtz, former vice president of demand marketing and communications at ICE Mortgage Technology, as chief marketing officer (CMO).Holtz will drive unified marketing and communications strategies to advance Optimal Blue’s business priorities and further extend the comp

California mortgage tech firm Blend Labs narrowed its loss in 2023 by expanding its consumer banking footprint and growing its mortgage consumer base. The San Francisco-based company reported a non-GAAP net loss of $101.3 million in 2023, down from a non-GAAP net loss of $182.2 million in 2022, acco