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Author name: Ricky Vasquez

Sotheby’s: Luxury housing market resilient despite economic waves

Agent, Real Estate /

Wealthy U.S. households continue to lead gains in real estate values despite ongoing economic volatility, according to a mid-year report from Sotheby’s International Realty. The 2025 Mid-Year Luxury Outlook highlights that the luxury housing sector remains a strategic asset for those who are navigating inflation, stock market shifts and global uncertainties while continuing to invest […]

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The CFPB’s budget might be shrinking, but does that even matter?

CFPB, Compliance, Dodd-Frank, Federal Reserve, Housing Market, HWmember, Legislation, Regulatory, Trump administration /

The Trump administration’s “Big Beautiful Bill” may contain many initiatives lauded by the housing industry, but if you’re a federal regulator — namely the Consumer Financial Protection Bureau (CFPB) — you might have a different take.  The multitrillion-dollar bill, which was passed by the U.S. Senate on Tuesday but still awaits approval from the House

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Non-prime U.S. residential mortgage pool secures $283.64M Santander notes

RMBS, Secondary markets /

Santander Bank is sponsoring the issue of its third non-qualified mortgage (non-QM)/investor loan securitization this year. The bank is a mortgage loan aggregator that predominantly focuses on non-agency loan aggregation and securitization.  The Santander Mortgage Asset Receivable Trust 2025-NQM3 will issue notes totalling $283.64 million. The sponsor and seller is Santander Bank, the depositor is

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CFPB terminates 2024 consent order against Fay Servicing

Regulation and compliance, Servicing /

The Consumer Financial Protection Bureau has concluded a 2024 action it took against nonbank mortgage company Fay Servicing under a former director in line with a broader rollback of enforcement under new leadership. “The bureau waives any alleged noncompliance by Fay Servicing with the consent order,” read an order that Russell Vought, the CFPB’s current

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Refi applications soar as homeowners seize on lower rates

Mortgage applications, Mortgage Rates, Originations, Refinance /

Homeowners who were locked into high interest rates have been eager for them to dip so they can refinance. Last week, many saw their chance and took it. Mortgage applications rose 2.7% for the week ending June 27, according to the Mortgage Bankers Association’s Weekly Applications Survey, driven mostly by refinancing. Refinance applications were up

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Pulte urges Congress to investigate Powell

FHFA, Politics and policy, Regulation and compliance /

U.S. Federal Housing Director Bill Pulte is asking Congress to investigate Federal Reserve Chairman Jerome Powell, in a stark escalation of the official’s campaign against the central bank head.  In a statement posted to X on Wednesday, the chairman of Fannie Mae and Freddie Mac cited Powell’s statements in a recent Senate committee appearance as

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UWM sues nearby rival Towne Mortgage for poaching

CAREER & COMPENSATION, Law and legal issues, UWM /

United Wholesale Mortgage is suing nearby rival Towne Mortgage in a rare theft of trade secrets case from the industry’s largest lender. The lawsuit filed in January accuses nine former UWM account executives of taking trade secrets, including broker partner information, to Towne. The competing retail and wholesale lender and servicer last month denied the

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CFPB drops Navy Federal’s million overdraft settlement

CFPB drops Navy Federal’s $95 million overdraft settlement

Litigation, Overdrafts, Regulation and compliance, Trump administration /

Adobe Stock The Consumer Financial Protection Bureau has scrapped a $95 million settlement with Navy Federal Credit Union, freeing the nation’s largest credit union from paying a $15 million fine and from refunding $80 million to service members who were illegally overcharged overdraft fees. Acting CFPB Director Russell Vought on Monday terminated the consent order

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