Technology and title have been closely intertwined as of late, as the title space looks at ways to not only integrate adoption but also look at where technology is actually beneficial in the process. Helping share her thoughts on this topic, we’re excited to have Rachel Luna, the “Title Queen”
Read more
When Federal Reserve Chairman Jerome Powell talked about a housing reset in June, it sent shockwaves around the country because it sounded so ominous. In the most recent FOMC meeting, held last week, Powell finally clarified what he meant by that term and what a housing reset means to the
Read more
The overall mortgage delinquency rate declined to 2.79% in August from 3.6% in July, according to a report by Black Knight. The delinquency rate is just 4 basis points above the historic low of 2.75% in May 2022. August saw 20,300 foreclosure starts, a 15% rise from July, but remained
Read more
Amid a decline in mortgage business, Wells Fargo last week notified Iowa state authorities of its plans to lay off 36 employees. The workforce reduction came from its Des Moines, Clive, Ankeny and West Des Moines offices, according to a WARN notice filed in the Iowa Workforce Development. The Des
Read more
In the quest to extend homeownership to everyday Americans, local lenders—a segment that includes credit unions, community banks and independent mortgage banks serving communities across the country—play a vital role. The only banking presence in one in five U.S. counties, local lenders help millions of people access resources and services
Read more
Higher mortgage rates, lower volume and fiercer competition forced BayFirst National Bank to shut down its residential mortgage business and lay off staffers. BayFirst Financial Corp., the parent company of BayFirst National Bank, announced last week that its board of directors started the process of closing the bank’s nationwide network
Read more
These days, every week brings a new report, forecast or piece of news reminding us that the mortgage lending market is in uncharted waters. Mortgage demand fell 6% week over week at the end of July. Applications dropped 7% in the same period. The national inflation rate eclipsed 9% in
Read more
The Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac, has been granted summary judgment on the last remaining claim by investors in a lawsuit alleging the government overstepped its authority when it adjusted its stock-purchase agreements with the agencies and allowed net worth sweeps. The plaintiffs, Fairholme Funds Inc., et al.,
Read more
Publicly traded real estate firm The Real Brokerage has struck an agreement to acquire the mortgage brokerage arm of real estate and mortgage technology company LemonBrew. The Real Brokerage, headquartered in Ontario, Canada, will pay $1.25 million to acquire the tech-enabled home loan platform, which does business in 20 U.S.
Read more
Santiago Llano and Eric Palacios of Ritch Mueller explain why non-Mexican residents should analyse whether Mexican source income exists when …
Read more
According to the National Association of Realtors, existing-home sales in the U.S. experienced another dip in August 2022, marking the seventh …
Read more
Sean R. Kelly, Esq., partner in investment aales at Ariel Property Advisors, has specialized in the Brooklyn market for more than 13 years. He is …
Read more