Propy has acquired the title division of Boss Law as part of the company’s effort to expand its presence in institutional real estate transactions. The deal brings the Florida-based title operation — including offices in St. Petersburg and Seminole — under the Propy Title brand. Boss Law’s client base includes several large residential real estate […]
Propy expands AI title rollup with Florida acquisition Read More »
Mortgage rates are driven by the bond market. Although bonds only experienced moderate, steady weakness throughout the day, mortgage rates lurched higher by an amount typically seen when the market is reacting to big, breaking news. But there wasn’t any of that sort of news on tap today–just downbeat updates that reinforced a longer timeline
Mortgage Rates Spike to 2026 Highs Read More »
Florida-based real estate firm MV Realty sees a potential new legal challenge even after settling another of the numerous lawsuits that accuse it of predatory entrapment in regards to its controversial homeowner benefit agreement program. Processing Content Massachusetts Attorney General Andrea Joy Campbell announced her office reached an agreement with the firm, issuing a $2.25
MV Realty settles NTRAP suit, but more legal woes loom Read More »
The Senate this morning passed a version of the 21st Century ROAD to Housing Act, earning generally positive reviews from the mortgage industry, though some trade groups raised concerns about what the bill includes and what needs to be changed. Processing Content Passage of the bill was overwhelming with 89 votes in favor to just
Mortgage groups split after Senate passes housing bill Read More »
CrossCountry Mortgage announced Thursday a significant investment in its newly formed builder division. Processing Content The lender did not disclose the size of the investment, but it reinforced CrossCountry’s commitment to the homebuilder market, the company said. The division will offer a comprehensive suite of residential lending programs and commercial lending solutions, such as builder
CrossCountry invests in builders with new division Read More »
The Mortgage Bankers Association has called for Department of Veterans Affairs policymakers to match the new partial claim more closely to borrower options offered in other parts of the market. Processing Content “As drafted, veterans will continue to have worse options than similarly situated non-veterans,” Pete Mills, MBA’s senior vice president of residential policy and
Mortgage bankers want VA’s partial claim aligned with market Read More »
Key insight: The Senate passed housing legislation by a wide bipartisan margin, but the House is less likely to do so. What’s at stake: The Mortgage Bankers Association has complained that a “drafting error” in a section of the bill prohibiting investment companies from buying single-family homes would reduce the construction of multifamily housing. Forward
Housing bill passes Senate, but window of opportunity narrows Read More »
Mortgage rates zoomed up 11 basis points this week as the Iran war wreaked havoc on oil prices, putting both the bond and equity markets in turmoil. Processing Content The 30-year fixed-rate mortgage averaged 6.11% on March 12, the Freddie Mac Primary Mortgage Market Survey reported. This compared with last week’s 6% and a year
Iran war pushes mortgage rates near yearly high Read More »
Key Insight: Federal Reserve Vice Chair for Supervision Michelle Bowman highlighted upcoming changes to the global systemically important bank surcharge and Basel III endgame implementation rule, which primarily focus on adjusting input parameters and certain risk weighting mechanisms rather than overall capital levels. Expert quote: “These changes to the capital framework eliminate overlapping requirements, right-size
Fed’s Bowman previews streamlined capital framework Read More »
Foreclosure activity continues to trend up nationwide, although it’s slowed to start the year. Processing Content The 38,840 properties across the country last month with either default notices, scheduled auctions or bank repossessions was down 4% from January, according to property analytics firm Attom. Those foreclosures, which represent 1 in every 3,701 housing units, are
Some Florida distress grows as broader foreclosures waver Read More »