There were a total of 361 consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB) related to the reverse mortgage industry during the calendar year 2023, according to a consumer complaint database maintained by the Bureau. Of those complaints, 167 had to do with “trouble during the payment process,” while other topics included payment […]
A Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgage (HECM) requires a borrower to be at or over the age of 62 to qualify for a loan, making baby boomers most of the new qualifying candidates for a HECM. A new report from Construction Coverage sourced by its researchers and data from the U.S. Census […]
The U.S. Department of Housing and Urban Development (HUD) Office of the Inspector General (OIG) issued a management alert this week, saying that the department has struggled to identify and prevent “improper payments” related to its programs for 11 consecutive years. The OIG advised HUD leadership to “address the Department’s longstanding challenges with identifying and […]
After a successful launch of its new agent pay structure in Los Angeles and San Francisco in late October, Redfin announced Monday that it was
After hitting a 23-year high of 8% in October, mortgage rates have cooled down to the lowest levels since July. Some borrowers are even getting
Residential sale-leaseback platform EasyKnock is under fire from the Massachusetts Attorney General’s office. In a news release last Tuesday, Attorney General Andrea Joy Campbell announced
Despite rising housing unaffordability, we in the real estate business know that homeownership is still a fantastic way to build generational wealth. Not surprisingly, affordability
Are big Wall Street investors really buying 44% of homes this year? The answer is no — not even close. Housing inventory is near all-time
Weekly housing inventory data We will start with the price cut data percentage because it deserves a detailed explanation. 2022 was a historic year for
RE/MAX has seen a steady stream of agents and new franchisees over the past three weeks. In late November, the firm announced that Elizabeth Ruehrwein, a top agent in the Rehoboth, Massachusetts area joined RE/MAX Integrity, leaving Lamacchia Realty, previously known as Keystone Property Group. Ruehrwein, who became a licensed
After a successful launch of its new agent pay structure in Los Angeles and San Francisco in late October, Redfin announced Monday that it was expanding the new pay structure to its San Diego and Orange County markets. The pay plan now known as Redfin Next, after rebranding from its
After hitting a 23-year high of 8% in October, mortgage rates have cooled down to the lowest levels since July. Some borrowers are even getting quoted in the 6% range. A top-tier borrower with a 780 FICO score and a 25-30% down payment for a single-family vanilla 30-year fixed-rate mortgage
Residential sale-leaseback platform EasyKnock is under fire from the Massachusetts Attorney General’s office. In a news release last Tuesday, Attorney General Andrea Joy Campbell announced that she had entered into a settlement with EasyKnock for what her office alleged was deceptive practices that stripped consumers of their home equity. Campbell’s
Despite rising housing unaffordability, we in the real estate business know that homeownership is still a fantastic way to build generational wealth. Not surprisingly, affordability is inextricably linked to fair housing, as fair housing (and lending) for all is foundational to affordability for all. When affordability meets fair housing Recently,
Are big Wall Street investors really buying 44% of homes this year? The answer is no — not even close. Housing inventory is near all-time lows, but big institutional investors like Invitation Homes or BlackRock aren’t to blame. The 44% claim was made in the headline for a Medium article