CR over at the Calculated Risk blog tackles the newest meme among borrowers — walking away, even if loans are recourse, in order to get into a now-devalued (and cheaper) house. What’s amazing is that this can even happen; it’s not that hard to find out if a borrower has another mortgage.
There’s a credit pull for that
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Rocket delivers $291M profit amid improved margins and MSR acquisitions
The Detroit-based lender reported a GAAP net income of $291 million from January to March, its highest profit level in two years.