Illinois-based mortgage lender Celebrity Home Loans and its parent company Celebrity Financial, Inc. are the target of a class-action-seeking lawsuit. A former employee is suing the companies, alleging they “abruptly terminated hundreds of its employees” without giving legally required 60-day advance notice as required by the Worker Adjustment and Retraining Notification Act (WARN Act).
The housing market faced some serious obstacles last week as the 10-year yield broke over 4%, mortgage rates rose to over 7%, purchase apps fell again and we are still trying to find the elusive seasonal bottom for housing inventory. Keep it simple here, folks; once rates started to rise
It felt like somebody turned on the spigot. There were leads, referrals and action in January, after people returned from holiday vacations and rates declined, said Don Monson, branch manager at Sente Mortgage. He was cautiously optimistic for a better 2023. Monson had hoped for a “spring rush,” but recently,
Growing supply shortages are holding housing prices higher, and affordability constraints coupled with elevated rates lock potential sellers in place. Home prices fell in January, pulling back by 0.24% from December to mark the smallest monthly decline in seven months, according to Black Knight‘s mortgage monitor report. The annual home
Inflation is hot, so why aren’t mortgage rates over 10% like we saw in the 1970s? Put those disco pants back in the closet; this isn’t the 1970s, John, and the bond market has been saying this to anyone who would listen. Mortgage rates have trended up to over 7%
Real estate valuation technology provider Clear Capital on Thursday launched Universal Data Collection (UDC), a product designed to support appraisal modernization. The UDC product provides lenders with tools for scalability, interchangeability and loan management, according to a statement. UDC will provide fast and accurate collection of data, pursuant to Freddie
Executives at Rocket Companies are engaged in a very tricky balancing act: they must drastically reduce expenses to return the company to profitability. And at the same time they must continue to invest in their business to avoid losing further ground in a mortgage market that doesn’t play to Rocket’s
Title industry revenue dropped 19% year over year in 2022, according to data released Thursday by Fitch Ratings. This 19% decline is on a GAAP basis for the Fitch Ratings title universe which includes Fidelity National Financial, First American, Old Republic and Stewart. According to the Fitch report, the decline
Blank-check firm Aurora Acquisition Corp. extended the deadline to complete its merger with struggling digital mortgage lender Better.com for the third time. The deadline for the merger is now September. The decision was made during Aurora’s shareholder’s meeting held on February 24, filings with the U.S. Securities and Exchange Commission
Temperatures are rising, the sun is setting later, and the daffodils are starting to peek their green leaves out of the earth — spring is coming. And just like the bears who are starting to wake up from their long winter naps, homebuyers and sellers are coming out of hibernation…
Mortgage rates are surging again due to sustained economic growth and continued inflation, eclipsing 7% on Thursday. And it could be a while before they tick back down, economists say. The 30-year fixed-rate mortgage on Thursday, March 2 touched 7.10%, up 16 basis points from 6.94 on Wednesday. The most
Ginnie Mae has promoted Sam Valverde to principal executive vice president, where he will serve as the the second-in-command to Ginnie Mae President Alanna McCargo. The government corporation is also seeking an executive vice president and chief operating officer to manage daily operations and round out the leadership team. In
Meridian Listing Agent Kevin Harper Says Idaho Real Estate Market Stronger Than Many Expected
Lake & Town Realty Partners With Real Estate Portal Lakefront Living Realty LLC
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Zillow News Truth Delta: Opinion & Editorial