The earlier class certification for a lawsuit in Ohio over Rocket Mortgage‘s late recording fees was reversed after the Ohio Supreme Court overrode a lower court’s favorable ruling for borrowers. Processing Content The case stems from a homeowner’s pursuit of a $250 fine from the lender, over its late recording of the release of his […]
Rocket class action suit in Ohio over late penalties halts Read More »
Former US President Donald Trump speaks during a news conference following a meeting with Senate Republicans at the National Republican Senatorial Committee (NRSC) office in Washington, DC, US, on Thursday, June 13, 2024. Trump’s brand on Wall Street, once tarnished by the US Capitol attack and his bombastic political rhetoric, has made a near-full recovery,
White House reportedly set home investor size sought in ban Read More »
A paper from Andrew Davidson & Co. reportedly supports the notion that dropping the tri-merge credit report standard would result in greater risk to mortgage industry participants. Processing Content The paper was brought to media attention by the Consumer Data Industry Association. Others stand by their views that a single pull is sufficient to use
Dropping tri-merge reports hikes mortgage risk, paper claims Read More »
Key insight: Treasury Secretary Scott Bessent said the Supreme Court limited the administration’s tariff authority under the International Emergency Economic Powers Act, but that other laws could give the administration the same powers. Supporting data: The Penn-Wharton Budget Model has estimated that the court’s rejection of the IEEPA tariffs could result in as much as
Bessent: ‘No one should expect’ tariff revenue to decline Read More »
A Virginia-based retail lender which generated hundreds of millions of dollars of origination volume annually since 2022 has shuttered. Processing Content City Lending CEO Jorge Campodonico shared the news Wednesday on LinkedIn, and the company’s website this week stated it was no longer conducting business. The independent mortgage bank reported $446 million in origination volume
Virginia-based City Lending shuts down Read More »
Ownwell, a fintech platform designed to assist homeowners with property tax appeals, completed a Series B round, the latest 2026 funding announcement for companies focused on finding homeownership savings. Processing Content The $50 million raise for the Austin, Texas-based company included $30 million of equity in the round, which was led by Alpha Edison and
Property tax relief fintech attracts $50M capital raise Read More »
A portfolio of first-lien, fixed-rate and prime residential mortgages will secure $321.2 million in residential mortgage-backed securities (RMBS) from the GS Mortgage-Backed Securities Trust 2026-PJ2 (GSMBS 2026-PJ2). Processing Content The capital structure includes a long series of class A notes—mostly ‘AAA’ rated—and B notes, all of which had a final scheduled maturity of August 2056,
Prime mortgages secure a $321.2 million RMBS from Goldman Read More »
What’s at stake: The Supreme Court struck down the White House’s sweeping tariff regime that went into effect last April in a 6-3 ruling. Expert quote: “The Government cannot identify any statute in which the power to regulate includes the power to tax.” — Supreme Court Chief Justice John Roberts, writing for the majority. Forward
Supreme Court strikes down Trump’s ‘Liberation Day’ tariffs Read More »
The U.S. Supreme Court struck down President Donald Trump’s sweeping global tariffs, undercutting his signature economic policy and delivering his biggest legal defeat since he returned to the White House. Processing Content Voting 6-3, the court said Trump exceeded his authority by invoking a federal emergency-powers law to impose his “reciprocal” tariffs across the globe as well
Trump’s global tariffs struck down by U.S. Supreme Court Read More »
Federal lawmakers are urging the Department of Justice (DOJ) to take a closer look at the closed $1.6 billion merger deal between Compass and Anywhere Real Estate. The effort is being led by Sen. Elizabeth Warren (D-Mass.) and Rep. Becca Balint (D-Vt.) with 16 other Democrats as co-signers. In a letter sent Thursday night and obtained
Lawmakers press DOJ on Compass-Anywhere Real Estate merger review Read More »