Guaranteed Rate has reappointed Jeff Nelson to the position of Southeast divisional manager, the company announced on Tuesday. In his new role, Nelson will oversee sales operations and partnerships. He will also lead teams across North Carolina, South Carolina, Georgia, Florida, Tennessee, Alabama, Mississippi, Virginia and West Virginia. He will be based in the company’s […]
HomeServices of America can preserve some of its legal war chest — for now, at least. The residential brokerage was dismissed this week from one of the early real estate commission lawsuits, known as “Batton 1” after its lead plaintiff, a homebuyer named Mya Batton. Judge Andrea Wood of the U.S. District Court for the […]
Keller Williams Realty has partnered exclusively with the online learning platform Coursera to offer a comprehensive introduction to the business of real estate. Dubbed the KW Real Estate Agent Professional certificate, the program will give participants a head start in the real estate industry. “Our goal is to ensure that we’re getting the opportunity of […]
Texas Capital Bank (TCB), a warehouse lender that is suing Ginnie Mae over loans made by TCB to now-bankrupt lender Reverse Mortgage Funding (RMF), has objected to a motion by U.S. Department of Justice (DOJ) attorneys seeking to stop the evidence gathering process, saying its requests are reasonable. Late last month, DOJ attorneys initially filed […]
Longtime reverse mortgage industry professional Tane Cabe has joined C2 Financial’s reverse mortgage division as a “retirement mortgage expert,” according to an announcement issued by the company this week. Cabe, who most recently served as president of reverse mortgage lending at Fairway Independent Mortgage Corp., helped grow that company’s division after a series of changes […]
North Carolina-based mortgage lender Premier Lending Inc. has adopted the FICO Score 10 T credit-scoring model for its nonconforming loan originations and whole loan acquisitions. Premier Lending is adopting FICO’s updated credit-scoring model “to continue to drive the company’s innovation strategy forward and help make more homeownership dreams a reality,” the company stated in a […]
Zonda, one of the leading data providers in the homebuilding industry, has acquired Builders Digital Experience (BDX), the company announced on Wednesday. By extension, Zonda also acquired NewHomeSource.com, one of the largest listings platforms for newly constructed homes, and Envision, a new home design platform. Founded in 2000, BDX is owned by a group of […]
The U.S. Department of Housing and Urban Development (HUD) on Wednesday issued a mortgagee letter that implements the Federal Housing Administration’s (FHA) payment supplement partial claim. The new loss-mitigation alternative resulted from the FHA’s acknowledgment that its toolkit wasn’t enough to support struggling borrowers as mortgage rates surged. Since March 2020, lenders and servicers have […]
The National Association of Realtors (NAR) announced on Wednesday the addition of a home repair estimate app to its package of NAR Realtor Benefits for members. Curbio, a provider of pre-sale home improvement services that requires payment at closing, will provide its “Build Your Own Estimate” mobile app to NAR members, which offers free repair […]
Mortgage demand continued its downward trajectory last week as interest rates moved back above 7%. Mortgage applications decreased by 10.6% on a seasonally adjusted basis during the week ending Feb. 16, according to the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey. A stronger-than-expected inflation reading sent mortgage rates back north of 7% and also […]
Mortgage startup Tomo has thrust itself into the “portal wars” arena with the launch of Tomo Real Estate, its new home search site, the company announced this week. “We’re not just another listing portal,” Carey Armstrong, Tomo co-founder and COO, said in a statement. “Tomo Real Estate is here to give home buyers a distinctive […]
Warburg Pincus-backed fintech Sagent launched on Wednesday its new servicing software platform called Dara, which has a single real-time database and user experience across the entire core, consumer and default servicing life cycle, according to the company. It’s the first launch for Sagent under the leadership of recently appointed CEO Geno Paluso, a retired U.S. Navy captain who […]
With market uncertainty, real estate agents had been sticking with their current brokerage., but that’s all starting to change. While inventory is still low, professionals are seeing light at the end of the tunnel. According to Relitix’s Agent Movement Index continues to rise on a seasonally adjusted basis as agents begin switching brokerages at a […]
CoStar Group’s annual revenue increased by 12% during the fourth quarter of 2023, marking its 51st straight quarter of double-digit revenue growth. The company reported revenue of $640 million and net income of $96 million for the quarter. Meanwhile, the company reported revenue of $2.46 billion for the year ending Dec. 31, 2023, up 13% from […]
Infamous ransomware gang AlphV/BlackCat claimed it was behind the January cyberattack at top 15 U.S. mortgage lender loanDepot. loanDepot, which originated about $17 billion in mortgages in the first three quarters of 2023, had reported that a cyberattack brought down the company’s systems earlier this year. The ransomware gang claimed it offered loanDepot $6 million […]
The dream of homeownership is becoming more attainable for many Americans, with 10.5 million homeowners added between 2012 and 2022. Some racial minorities also witnessed a surge in their homeownership rates. According to a new report from the National Association of Realtors (NAR) titled “A Snapshot of Race and Home Buying in America,” Asian and […]
