Dovenmuehle Mortgage, a mortgage sub-servicing company, has informed authorities in Illinois that it will impose a layoff affecting hundreds of employees next year. The company has decided to cut 212 jobs in its Lake Zurich site starting on Feb. 16, 2024, per a Worker Adjustment and Retraining Notification Act (WARN) filed with the Illinois Department of […]
Mortgage rates stayed below 7% for the second week in a row, a welcome relief after a 17-week streak of above-7% rates. This week’s dip is the largest weekly drop since November 2022. The 30-year, fixed mortgage rate averaged 6.67% for the week ending Dec. 21, according to Freddie Mac‘s Primary Mortgage Market Survey. That’s […]
HousingWire Editor in Chief Sarah Wheeler sat down with Kathryn Amor, senior vice president and head of enterprise products at Guaranteed Rate, to talk about the intersection of product and technology. Sarah Wheeler: You joined Guaranteed Rate in January of 2023. What drew you to that role? Kathryn Amor: Their amazing tech stack was a […]
First American is the latest real estate firm to suffer a cybersecurity incident. Sources told HousingWire the incident occurred Wednesday afternoon, with First American confirming the incident Thursday morning. In a statement on the title company’s website it notes that First American has “taken certain systems offline” and that it is working to resume normal […]
The U.S. Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) sued the developer and lender Colony Ridge on Wednesday, alleging the company operated an illegal land sales scheme and made false statements targeting tens of thousands of Hispanic borrowers in Texas. That’s the first predatory mortgage lending case brought by the DOJ. It’s also CFPB’s first federal court lawsuit related […]
There’s no higher honor than serving in the United States Military, which I deeply understand as a former Army sergeant. And, like many of my fellow service members, I’ve experienced firsthand the sense of missing out on a significant benefit we’ve rightfully earned protecting our freedoms — the VA mortgage loan — which stands as […]
It was late 2022 and Mike was feeling the pressure. Mortgage rates had climbed close to the 7% range and he was determined to remain competitive on pricing with rival loan officers in North Carolina. But there was a problem: pricing exceptions, in which the lender takes the hit, were becoming scarce at his company. […]
Did today’s existing home sales report give us a playbook for housing in 2024? I would argue yes, and the housing market today looks a lot like what we saw in late 2022. However, this time around, the Federal Reserve rate hike cycle is over, and we don’t need to worry about Fed presidents going […]
