Finance of America Companies (FOA), which had previously borrowed $60 million from longtime backer Blackstone Group, has increased its borrowed amount to $85 million and extended the end of its repayment term from November 2024 to May 2025. This is according to an 8-K filing made this week by FOA with the U.S. Securities and […]
The list of defendants in the Masiello copycat commission lawsuit just got shorter. In a document filed on Monday, the counsel for the home seller plaintiff Joseph Masiello notified the federal court in Arizona that it was voluntarily dismissing defendant Walt Danley Local Luxury, an affiliate of Christie’s International Real Estate, from the suit. According […]
Rocket Homes Real Estate rolled out its new app on Apple Vision Pro, Apple’s new virtual reality and mixed-reality headset. It will allow users to view and tour properties by blending their physical and virtual worlds, Rocket said. When homebuyers launch the Rocket Homes app in Apple Vision Pro, a home search page and map […]
Introducing the NEW HousingWire Mortgage Rates Center, a resource for housing professionals to access real-time mortgage rates data and the insights that fuel understanding and decision-making. HousingWire is dedicated to providing housing professionals with the full picture, and while there are many places to find rates information, the Mortgages Rates Center takes a nuanced approach […]
The U.S. Attorney for the Southern District of New York (SDNY) announced individual charges Tuesday in a sweeping case that involves kickbacks and bribes from the New York City Housing Authority (NYCHA), charging 70 current and former NYCHA employees with bribery and extortion. The investigation involved more than a year of collaboration between the office […]
Banks reported having tightened lending standards across almost all categories of residential real estate loans over the fourth quarter of 2023 amid an elevated interest rate environment. There’s some optimism, however. With the central bank expected to cut interest rates this year, banks reported that loan demand should strengthen across residential loan categories in 2024, […]
Insellerate, a customer relationship management (CRM) provider that serves banks, credit unions and other lenders, has rehauled its user interface (UI) to make it more user-friendly and efficient. To redesign the interface, the company collected feedback from more than 250 loan officers, demonstrating the company’s commitment to enhancing user experience. “The new UI is a […]
REX Real Estate is back again trying to get a new trial in its false advertising lawsuit against Zillow. On Monday, the now defunct discount brokerage filed an appeal with the U.S. Court of Appeals for the Ninth Circuit, asking the appeals court to reverse the lower court’s ruling on REX’s motion for a new […]
Accused of redlining by regulators, First National Bank of Pennsylvania (FNB) has agreed to settle the case for $13.5 million, the Department of Justice (DOJ) and the State of North Carolina announced Monday. FNB was involved in the case as a successor in interest of Yadkin Bank, which it acquired in 2017. The complaint alleges that, from 2017 through 2021, FNB failed to provide […]
There has been much back and forth in the industry about reporting for short-term rentals — who should complete the report and what form should be used? Previously, the only way to create a robust report truly reflective of the potential of a short-term rental was to have a certified general appraiser complete a narrative […]
A waterfront site, on Clearwater Beach, has been acquired by BH3 Management and U.S. Development with plans for a condominium project. The three-acre site, at 551 Gulf Boulevard, was purchased for $24.75 million. Plans for the development include a pair of nine-story buildings with 86 luxury residences, a resort-style pool deck and a 270-foot-wide private […]
Dallas-based OneTrust Home Loans brought on James Hecht as its CEO to spearhead the company’s various mortgage lending divisions. As a result, co-founders Josh Erskine and Shane Erskine will be pivoting to the roles of CEO and president at Warp Speed Holdings, respectively. In a statement, Hecht expressed his enthusiasm about joining OneTrust Home Loans. […]
The 30-year fixed mortgage rate surpassed the 7% mark on Monday on the heels of strong economic data and the Federal Reserve signaling that it will move carefully with any future cuts to interest rates. The 30-year conforming fixed mortgage rate was at 7.04% on Mortgage News Daily and 6.91% on HousingWire’s Mortgage Rate Center. […]
A U.S. appeals court has halted the enforcement of a Florida law that bans Chinese citizens from purchasing property in the state, multiple news outlets reported. The decision places the law on hold until the court rules on the merits of the case. The next step comes when the three-judge panel of the 11th U.S. […]
