Sales of previously owned US homes unexpectedly rose in February and the prior month was revised up, helped by a decline in mortgage rates and modest growth in asking prices. Processing Content Contract closings increased 1.7% to a 4.09 million annualized rate, according to National Association of Realtors data released Tuesday. The pace exceeded nearly […]
Existing-home sales increase as affordability improves Read More »
Bill Ackman is returning to the IPO market with a combined offering for his hedge fund manager and a new closed-end fund, the latest move in the billionaire’s long campaign to expand his asset management empire to public market investors. Processing Content The initial public offering for Pershing Square USA Ltd., the closed-end fund, would
Ackman’s Pershing Square seeks up to $10 billion in NYSE IPO Read More »
Mortgage rates dropping to a three-year low last month drove up lock activity, specifically among purchase borrowers. Processing Content Total rate-lock volume increased 9% month over month and nearly 40% on an annual basis, according to Optimal Blue’s latest Market Advantage report. Purchase lock activity rose more than 14% from January and 5% compared with
Purchase locks jump as rates dip in February Read More »
Former Sprout Mortgage workers are dropping their long-running lawsuit to recoup lost wages from the failed lender. Processing Content Attorneys for plaintiffs told a federal court last week they intend to file a voluntary dismissal, which would end the nearly four-year-old case. The expected wind down wraps a difficult journey for the laid-off workers, who
Fired Sprout workers to drop class action seeking lost wages Read More »
In an industry where a fair percentage of workers are paid all or partially on a commission basis, lower volumes as well as consolidation weigh on take-home pay. That dynamic showed up in survey responses from employees at companies included in National Mortgage News’ annual Best Mortgage Companies to Work For ranking. Processing Content Compared
83% of mortgage employees say compensation is fair Read More »
West Capital Lending (WCL) has sued loanDepot, accusing the California-based mortgage lender of engaging in a long-running compensation scheme that violates the Truth in Lending Act (TILA). The lawsuit, filed Friday in the U.S. District Court for the Central District of California, marks the latest escalation in a bitter legal feud between the two companies.
West Capital Lending sues loanDepot, alleges unlawful pay scheme Read More »
As America’s population continues to grow older, family members are increasingly stepping into demanding roles as caregivers — which often comes at considerable personal cost. A Pew Research Center survey of 8,750 U.S. adults found that one in 10 reports serving as a caregiver for a parent 65 or older. Another 3 % care for a
Seniors want to age in place, but family caregivers face strains on multiple fronts Read More »
The National Association of Realtors (NAR) reaffirmed that multiple listing services (MLSs) retain discretion to set their own rules and policies regarding listing statuses — following news of Compass marketing its Coming Soon and private listings on Redfin. Compass and Redfin parent company Rocket announced the partnership Feb. 26. In an email sent to Compass
NAR reaffirms MLS autonomy amid Compass-Redfin partnership Read More »
As we enter another week of the Iran conflict, the question now is what will this do to the economy, but for this article, we want to focus specifically on what this conflict means for the U.S. housing market. There are currently two sides to this discussion. One camp believes the economy is still expanding
How will rising oil prices impact the U.S. housing market? Read More »
Rezervology and Titl have announced the launch of RezeLink, an artificial intelligence (AI) solution designed to streamline and accelerate title search workflows. The platform will debut first for users of SoftPro — with additional title production system (TPS) integrations planned for future releases. RezeLink introduces automation capabilities designed to simplify multiple steps in the title
RezeLink AI platform aims to accelerate title search workflows Read More »