Inflation came in hotter than expected on Thursday, but we are still talking about rate cuts in 2024! The 10-year yield had a mild reaction to today’s data, increasing a few basis points early. It’s now at 3.98%, a far cry from 5.04% as we saw last year. This, while jobless claims data is still historically […]
When Kevin Sears stepped into the role of National Association of Realtors president on Monday following Tracy Kasper’s resignation, he became the trade organization’s third president in a little over four months. The saga of NAR’s revolving door of presidents began in late August 2023 when the New York Times published an exposé revealing what […]
Just over 60% of U.S. seniors at or over the age of 50 have not sought out professional retirement planning advice, despite data indicating a general lack of retirement preparedness among the older population according to a survey published this month by AARP and conducted by the National Opinion Research Center (NORC) at the University […]
After a long period of silence and extensions granted by the U.S. District Court for the Northern District of Texas, Ginnie Mae has filed its response to a lawsuit brought against it by Texas Capital Bank (TCB) saying the warehouse lender lacks standing and discounts the authority the government has to extinguish a lender from […]
The Real Estate Board of New York is now fighting a second copycat commission lawsuit. Like the March suit, filed in early November, just days after a Missouri jury found the National Association of Realtors, Keller Williams, and HomeServices of America liable for colluding to artificially inflate real estate agent commissions, the Friedman suit, named […]
I’ve interviewed 17 tech executives since we launched our HousingStack newsletter in September and I’ve been surprised and thankful for the candor and insight of each executive. Here are some of the highlights from those interviews on the important topics they’re thinking about. On the right tech mindset: Adam Carmel, Polly CEO: “When I was […]
Mortgage rates ticked up this week as the 10-year Treasury yield made its way back above 4%. The 30-year fixed-rate mortgage averaged 6.66% as of Jan. 11, a slight increase from last week’s 6.62%, according to Freddie Mac‘s Primary Mortgage Market Survey released on Thursday. The 15-year fixed-rate mortgage averaged 5.87% this week, down from […]
CoreLogic has debuted a new security solution for multiple listing services designed to reduce the risk of cybersecurity threats. Called Clareity Assure, the new, upgraded security platform is available to any MLS concerned about vulnerabilities in its listing data. Clareity Assure is powered by artificial intelligence and its functionalities feature adaptive authentication processes. Additionally, the […]
Inflation edged up by 30 basis points between November and December, highlighting the difficulty of bringing consumer prices down to the target goal. Inflation is one of the key economic metrics that the Federal Reserve is monitoring as it plans for interest rate cuts later this year. Consumer prices were up 3.4% in December from […]
Although what lies ahead in the world of real estate and mortgage services in 2024 remains a bit uncertain, it’s now crystal clear that, beyond the already-tired suggestion that we “survive until ’25,” quite a few businesses will be seeking to find additional sources of revenue. One potential stream that quickly comes to mind is […]
Radian Group announced a strategic investment in FinLocker that will closely connect the technology between Radian’s Homegenius platform and FinLocker’s financial fitness and homeownership platform. FinLocker – which has more than 40,000 registered consumers and is led by former Fannie Mae executive Henry Cason – is focused on helping the consumer get to a place […]
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TransUnion released a new portfolio management solution designed to help lenders assess the riskiness of a portfolio from a property value perspective, the company announced on Wednesday. TruVision Consumer Property Insights’s mission is to help protect both lenders and borrowers from the potential risks associated with property value fluctuations, the company said. The product will […]
HomeEquity Bank, Canada’s leading reverse mortgage lender and a federally regulated bank, recently announced the hiring of former Canadian Broadcasting Corporation (CBC) news anchor Peter Mansbridge to serve as its strategic communications consultant. Mansbridge served as the lead anchor for CBC News’ “The National,” its flagship broadcast, from 1988 to 1992, and then from 1995 […]
University Bank’s reverse mortgage division has added four key hires across different disciplines as it prepares to grow further in the reverse mortgage space. Jake Droge joins the company as a loan officer, while Carol Olmos has joined the company as an account executive. Both Droge and Olmos come to University Bank from Open Mortgage, […]
Enterprise Community Partners announced on Wednesday the appointment of Kari Downes to the position of president at its housing credit investments business, effective April 1. Downes, who currently serves as Enterprise Housing Credit Investments EVP, will succeed current president Scott Hoekman who has spent the past 30 years at Enterprise. In addition to serving as […]
Nonbank mortgage lender and servicer Pennymac Financial Services scrapped its plans to hire more than 300 staff in North Carolina due to prolonged periods of elevated interest rates. In 2021, Pennymac vowed to create 322 jobs in Wake County, North Carolina and invest $4.3 million into Pennymac Loan Services, its mortgage lending subsidiary, to establish […]
