A coalition of bipartisan lawmakers in the U.S. Senate on Wednesday introduced legislation targeting the practice of mortgage trigger leads. The bill, designated “S.3502,” is designed to “amend the Fair Credit Reporting Act (FCRA) to prevent consumer reporting agencies from furnishing consumer reports under certain circumstances,” according to the bill’s language. Sen. Jack Reed (D-R.I.) […]
New York State’s largest multiple listing service just got larger. OneKey MLS has acquired Mid-Hudson MLS according to an announcement on Monday, growing its membership to nearly 50,000 agents. The Poughkeepsie-based Mid-Hudson MLS is a broker-owned MLS serving over 1,400 agents in Dutchess County and the Mid-Hudson Valley area. Founded in 2018 and owned by […]
The holidays have come early for the mortgage industry. Mortgage rates fell below the 7% threshold this week as markets prepared for Federal Reserve Chairman Jerome Powell’s announcement on Wednesday. The 30-year, fixed mortgage rate averaged 6.95% for the week ending Dec. 14, according to Freddie Mac‘s Primary Mortgage Market Survey. That’s down from last […]
Editor in Chief Sarah Wheeler sat down with Kirill Klokov, CEO at Truv, to talk about the advantages of consumer-permissioned data for data quality and security. This interview has been edited for length and clarity. Sarah Wheeler: How did you get into the verification space? Kirill Klokov: It was through experiencing how verifications can be […]
The Real Estate Standards Organization is welcoming many new and returning board of director members in 2024. The organization announced its board of directors’ election results, as well as director and executive committee appointments in a release on Thursday. Of the nine open board of director seats, four went to MLS or Realtor association representatives […]
Mortgage industry trade group Community Home Lenders of America (CHLA) is urging government agencies to begin to have conversations surrounding the impact of the jury verdict and potential court ruling in the Sitzer/Burnett commission lawsuit on lending practices. In a letter submitted Thursday to Federal Housing Finance Agency Director Sandra Thompson, Federal Housing Agency Commissioner […]
In 2023, Fannie Mae and Freddie Mac announced plans to make it easier to buy a home and close the racial homeownership gap in the United States. Homeownership is one of the most important decisions in a person’s life and is a primary vehicle for wealth creation for the majority of households. In fact, our […]
Texas-based lender Thrive Mortgage plans to merge with digital multichannel rival Lower, which will create a unified lender with more than 650 loan officers and 120 active branches across the country. Financial details of the merger, which is expected to close in the first quarter of 2024, were not disclosed. Over the last 12 months, […]
We’ve all experienced that liberating feeling when you confront a serious issue with an honest and open conversation. It’s like a weight lifted off your shoulders, right? Well, those are the types of conversations many agents are looking for right now, underscoring why your words post-commission lawsuit are more important than ever. Crafting a content […]
The housing market cheered as the Federal Reserve signaled interest rate cuts next year after making a series of rapid rate hikes starting in 2022. While the central bank did not completely rule out the possibility of a rate increase in 2024, that action seems unlikely. Instead, fresh economic projections from central bank officials showed […]
The Mortgage Bankers Association (MBA) and the National Mortgage Servicing Association (NMSA) are expressing their views on a recently revised Federal Housing Administration (FHA) loss mitigation proposal, stating that it needs additional adjustments to effectively address the challenges it is designed to tackle. The proposed policy FHA in May submitted — and in November, updated […]
