Wholesale lender OCMBC fires back at HMAC’s poaching lawsuit

In response to a poaching lawsuit filed two months by Home Mortgage Alliance Corp. (HMAC), wholesale lender OCMBC Inc. has denied the allegations while countersuing HMAC and its co-founder, Alfred Hanna, on behalf of an employee, Michael Turturro, and his corporation, Jet Alliance.The OCMBC counterc

Fewer mortgage complaints filed in Q2: CFPB

Mortgage-related consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB) fell between the first and second quarters of this year, according to a review of the CFPB’s consumer complaint database conducted by HousingWire.A total of 5,652 mortgage-related complaints were submit

Despite a big uptick in acquisition volume, Fannie Mae income stays relatively flat in Q2

Fannie Mae recorded $4.5 billion in net income in the second quarter, pushing its net worth to $86.5 billion as of June 30.Its net income was up only $164 million from the first quarter, despite a large uptick in purchases of single-family mortgages. Fannie Mae purchased $85.9 billion in single-fami

Mortgage rates stay put ahead of Fed policy announcement

As Federal Reserve policymakers meet this week amid a high likelihood they’ll keep benchmark interest rates unchanged, the recent downward movement in mortgage rates leveled off.HousingWire‘s Mortgage Rates Center showed that the average 30-year conforming loan rate was at 7.01% on Tuesday. That fig