loanDepot notches partial win in scrap with CrossCountry

loanDepot registered a partial win against CrossCountry in a trade secret and employment-separation dispute.  The California-based mortgage lender sued its rival in April 2022 claiming that six former employees — Steve Schneider, Cindy Smolin, Samantha Siegel, Fernanda Baske, Bob Bowman, and John Noyes — left the company to join CrossCountry after accessing, downloading

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Have we found the bottom in existing home sales?

On Wednesday, existing home sales collapsed near the lows we saw during COVID-19 and back in 2007 when the housing bubble burst. In addition, this is the fourth straight month of inventory declining, while days on the market are growing! Confused by this? I hear you; let’s dive deeper into

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UHM acquires Amerifirst, strengthening its presence in five states

Ohio-based Union Home Mortgage (UHM) struck a deal to acquire Michigan-based Amerifirst Home Mortgage, the companies confirmed on Wednesday.     Founded in 1970, UHM is a full-service retail, wholesale and consumer-direct independent mortgage banking company. The lender originated $4.68 billion in mortgage loans over the last 12 months, according to the mortgage tech

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Figure’s plan to buy a mortgage bank via SPAC is dead

Figure Acquisition Corp. I, a blank check company affiliated with fintech Figure Technologies that planned to merge with a mortgage bank, will be delisted from the New York Stock Exchange. Figure’s plan to go public through a SPAC has been scrapped with the NYSE’s decision. The NYSE notified Figure on

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Record mortgage rates killed existing home sales in November

Existing home sales slid for the 10th consecutive month in November, as homebuyer demand continued to cool. The seasonally adjusted sales rate for existing homes fell 7.7% month over month in November to a rate of 4.09 million, according to a report from the National Association of Realtors (NAR) released Wednesday. On a

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