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 […]
Fairway Independent Mortgage Corporation announced on Tuesday a series of reverse mortgage maneuvers designed to increase the company’s investment in the space. The first initiative is the decision to rejoin the National Reverse Mortgage Lenders Association (NRMLA), which the company left at the end of 2021 under previous reverse division leadership. “Fairway is renewing its […]
U.S. home prices posted their highest yearly rate of appreciation since January 2023, reaching 5.5% year over year in December, according to CoreLogic’s Home Price
The Fannie Mae February Selling Guide has a series of updates, including the expansion of value acceptance and property data appraisal waivers to condominiums, cash-out
The Underserved Mortgage Markets Coalition (UMMC), a coalition of 32 housing groups initially convened by the Lincoln Institute of Land Policy, published a report on
Independent mortgage lender Embrace Home Loans has promoted Ryan “Buddy” Hardiman to the position of president, the company announced on Wednesday. Before the promotion, Hardiman
The late January auction of iconic Hamptons estate ‘La Dune’ marked the first time a property was included in an art auction at Sotheby’s. The
New York-based Rithm Capital posted a profit in 2023, a year marked by several acquisitions that turned the company into a leading global asset manager. In the
Less than a year after coming to the rescue of Signature Bank during the market turmoil of March 2023, New York Community Bancorp (NYCB) faces a confidence crisis due to its exposure to commercial real estate loans. The stress is leading to the bank to seek the sale of some of its assets to
U.S. home prices posted their highest yearly rate of appreciation since January 2023, reaching 5.5% year over year in December, according to CoreLogic’s Home Price Index. Home prices declined by 0.1% compared to November 2023. Price appreciation slowed greatly over the past year to 3.9%, down from 14.5% in 2022,
The Fannie Mae February Selling Guide has a series of updates, including the expansion of value acceptance and property data appraisal waivers to condominiums, cash-out refinance allowances for manufactured homes, and updates to credit references and certain definitions. Following up on a March 2023 update that first announced value acceptance
The Underserved Mortgage Markets Coalition (UMMC), a coalition of 32 housing groups initially convened by the Lincoln Institute of Land Policy, published a report on Wednesday that recommended actions for the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. Described as a “blueprint” for the GSEs’ 2025–2027 “Duty to Serve”
Independent mortgage lender Embrace Home Loans has promoted Ryan “Buddy” Hardiman to the position of president, the company announced on Wednesday. Before the promotion, Hardiman served as the company’s senior vice president of retail and direct sales for more than four years. In his new role, Hardiman will lead its
The late January auction of iconic Hamptons estate ‘La Dune’ marked the first time a property was included in an art auction at Sotheby’s. The $88.48 million winning bid on ‘La Dune’ also made the estate the most valuable property ever auctioned live at Sotheby’s. ‘La Dune’ was included in