It was late 2022 and Mike was feeling the pressure. Mortgage rates had climbed close to the 7% range and he was determined to remain competitive on pricing with rival loan officers in North Carolina.

The expense associated with originating mortgage loans has been escalating, with the current average cost approximating $11,600 per loan. A substantial component of this expense is attributed to Loan ...

A class action lawsuit against loanDepot alleges the lender committed violations of federal loan officer compensation laws and engaged in deceptive practices related to mortgage lending. The suit ...