California-based Pennymac Financial Services reported gains in its servicing portfolio that offset losses with its origination activity in the first quarter of 2023, allowing the company to deliver an overall profit in the period. However, Pennymac’s profitability declined compared to the previous quarter amid a still-challenging mortgage market. The company reported on
Being able to close on a home at any time on any day of the year has long been a pipe dream, but the Federal Reserve’s new FedNow instant payment system looks to be making that dream a reality. However, before one gets too excited, the title insurance industry is
The largest institutional single-family rental (SFR) operator in the country, Invitation Homes, is in the hot seat over its alleged failure to comply with building-permit requirements for rental properties it owns in California. Another larger player in the space, Progress Residential, recently postponed a securitization transaction due to difficult market conditions.
Executives at both Stewart Information Services and First American Financial bemoaned the challenging housing market environment as they discussed their respective firms’ first quarter 2023 earnings with investors Thursday morning. “The sharp decline in affordability driven by mortgage rates above 6%, along with low inventory and elevated home prices, adversely
Mortgage rates are trending up ahead of the Federal Reserve’s meeting next week, with the FOMC expected to increase the federal funds rate. Freddie Mac’s Primary Mortgage Market Survey shows the 30-year fixed mortgage rate increased to 6.43% as of April 27, up four basis points from last week and
Mobility Market Intelligence (MMI), a data intelligence and market insight tool provider for the mortgage and real estate industries, has appointed Brian McKray as the director of product development. In this role, McKray will be responsible for overseeing the creation of new system features and functionalities that align with MMI’s
The Consumer Financial Protection Bureau (CFPB) issued guidance this week for debt collectors seeking to foreclose on homes with mortgages past the statute of limitations, also known as “zombie mortgages.” The guidance comes in the form of an advisory opinion pertaining to the Fair Debt Collection Practices Act (FDCPA) and
Movement Mortgage has tapped Brady Yeager to join the team as national sales director, a role that will lead the expansion of Movement across the country. “I’ve always been passionate about helping loan officers grow their business to serve more families in our communities. Movement is an incredible place, and
Financial wellness technology company EarnUp reached a new milestone last quarter, helping millions of Americans schedule mortgage, auto, and student loan payments through its Payday to Payday program and technology. The company says it processed more than 50 million payment transactions worth $43 billion in total as of Q1 2023.
California-based Impac Mortgage Holdings, a former mortgage lender repositioning itself as a brokerage firm, announced on Thursday that NYSE American, LLC. has started the proceedings to delist its common stock from the exchange, suspending its trading immediately. Impac does not intend to appeal the determination, the company said in a filing with the U.S. Securities and
For the first time since November 2022, pending home sales fell in March, posting a 5.2% month-over-month decrease, according to data released Thursday by the National Association of Realtors(NAR). The monthly drop resulted in the Pending Home Sales Index recording a reading of 78.9, down 23.3% year over year. An index of 100
Ilija Batljan, one of Europe’s most indebted property tycoons, is selling buildings to stabilize an empire built during ultralow interest rates.
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
Reseller Hosting Provider Launches White Label Webhosting Education Campaign For Freelancers
Ohio Investment Real Estate Broker Launches New Property Search Website
Zillow News Truth Delta: Opinion & Editorial