After 14 years at the helm, Matthew Consalvo has announced that he will be retiring from his role as Arizona Regional MLS’s (ARMLS) CEO in the spring of 2027. ARMLS announced Consalvo’s decision to retire earlier this week. According to the MLS, during his time at ARMLS, Consalvo has helped to modernize the MLS, advance […]
Arizona Regional MLS CEO Matthew Consalvo plans 2027 exit Read More »
Hundreds of E Mortgage Capital employees could join a wage lawsuit against the brokerage, after a federal judge granted conditional approval to certify a class. Processing Content The federal complaint in Arizona accuses the lender of failing to pay overtime to numerous workers, from loan officers to processors to managers. An attorney for plaintiffs told
Hundreds may join E Mortgage Capital wage lawsuit Read More »
Just one day after an incredibly strong jobs report–something that would normally create problematic upward momentum for rates–the average lender is back to the lowest levels since January 16th. At the risk of overusing a played-out metaphor, this was not on many experts’ bingo cards. Even with the benefit of hindsight, it’s not entirely possible
Mortgage Rates Slide to New Multiweek Lows Read More »
In a new lawsuit that has attracted AARP, a consumer advocacy group is suing home equity investment platform Unison, the latest in a series of similar cases HEI firms have seen lodged against them. Processing Content The National Association of Consumer Advocates filed the lawsuit in District of Columbia Superior Court. Alongside its own attorneys,
AARP joins suit against Unison HEI model Read More »
Mortgage rates dropped for the first time in three weeks but have remained in the same range for the past month. Processing Content The 30-year fixed-rate mortgage averaged 6.09% Thursday, down two basis points from 6.11% last week, according to the Freddie Mac Primary Mortgage Market Survey. The 30-year rate was 6.87% at this time
Mortgage rates slip, but 6% may be the limit Read More »
Freddie Mac posted lower fourth-quarter and full-year earnings as revenue slipped and credit costs climbed, even as lawmakers on Capitol Hill renewed debate over whether the company and Fannie Mae are anywhere close to having the capital needed to exit conservatorship. Processing Content Lower net revenues and a higher provision for credit losses drove a
Freddie profit falls; Congress pushes back on IPO Read More »
Onity Group reported stronger fourth-quarter earnings, driven by a deferred tax asset valuation, and executives said they see opportunity in industry consolidation. But they signaled the company may take a different approach than some of its peers. Processing Content Net income to common shares was $126 million, compared to a $107 million to $131 million
Onity reveals more about M&A, earnings in final results Read More »
Sales of previously owned US homes fell in January by the most in nearly four years, a month marked by a massive winter storm. Processing Content Contract closings decreased 8.4%, the biggest drop since February 2022, to a 3.91 million annualized pace in January, according to National Association of Realtors data released Thursday. That trailed
Home resales fall most in four years despite lower rates Read More »
The housing market continues to favor buyers, forcing prices to slide and affordability to improve, according to a new report from Redfin. Processing Content Americans needed to earn $111,252 per year to afford the average home for sale in December, down 4% from $115,870 a year ago and 8.8% from a peak of $122,000 in
Income needed to buy a home falls 4% Read More »
The mortgage industry loves speed. Faster verifications, faster underwriting, faster closings. Over the past decade, lenders have invested heavily in technology designed to compress cycle times, reduce manual touchpoints, and improve margins in an increasingly rate-sensitive market. Processing Content But there is a structural problem technology alone cannot solve: a mortgage decision is only as
Mortgage tech can’t fix bad credit data Read More »