Sotheby’s International Realty Canada has appointed Mustafa Abbasi as president, naming a technology-focused executive to lead the luxury brokerage’s next phase of growth. Previously serving as founding president of Zolo, Abbasi built a technology-driven brokerage operating across Canada. Following Zolo’s sale to Questrade Financial Group, he served as president and CEO of Zolo Ventures — […]
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Improving a credit score could save homebuyers tens of thousands of dollars in mortgage interest, according to a new nationwide study from AD Mortgage, released on Thursday. The analysis, Credit Score vs. Mortgage Cost: How Long It Takes to Improve and How Much It Can Save, State by State, shows that even modest gains in
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At this point, it is getting a bit repetitive to bring up “the lowest rates in more than 3 years”–something that was officially the case twice this week. If we give rates credit for stably holding these long-term lows (and we should!), then every day this week has been the best in more than 3
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Growth in mortgage-backed securities holdings pushed the government-sponsored enterprises’ combined retained portfolios up past a previous multiyear high in January, when President Trump directed them to expand MBS purchases. Processing Content Together, Fannie Mae and Freddie Mac’s total loan and MBS holdings rose to $278.45 billion during January from $271.69 billion the previous month and
Fannie Mae, Freddie Mac’s total portfolio at multiyear high Read More »
President Donald Trump and New York City Mayor Zohran Mamdani met at the White House Thursday to discuss a multibillion-dollar affordable housing plan. Processing Content Mamdani is seeking $21 billion in federal grants for a construction project at Sunnyside Yard, which would allow the city to build 12,000 new affordable homes, create 30,000 union jobs
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A Michigan lender is facing a class action lawsuit over its alleged use of artificial intelligence voice agents for outbound marketing calls in violation of federal laws. Processing Content In a complaint filed this week in an Eastern Michigan federal district court, Pennsylvania homeowner Brennan Landy accused Mortgage One Funding of employing an AI agent
AI marketing calls spur suit against lender Read More »
Key Insight: Experts say even if regulators recalibrate capital standards, structural and competitive realities that did not exist before 2008 are the biggest drivers in their dwindling market share in mortgage origination and servicing. Nonbanks now dominate the sector, aided by leaner cost structures that are built for rate volatility — advantages that banks will
What’s it going to take to get banks back into mortgages? Read More »
The growing number of small property owners presents unique opportunities and challenges for lenders. Small landlords serve as a crucial segment of the real estate market, often managing fewer properties and relying on personalized strategies to operate efficiently. However, their smaller scale of operations can sometimes complicate loan evaluations. When evaluating small property owners, lenders
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Former Federal Housing Commissioner Brian Montgomery is joining VA lender Newday USA as vice chairman of its advisory board. Processing Content “Brian’s record of leadership at the highest levels of federal housing finance speaks for itself,” said Rob Posner, CEO of Newday USA in a press release. “As we continue to set new standards and
Brian Montgomery joins Newday advisory board as vice chair Read More »
Fairway Independent Mortgage Corp. is entering the home insurance market, offering products at origination through a new partnership with The Baldwin Group. Processing Content The two companies announced the launch of the home lender’s new affiliated business Thursday, with Fairway utilizing embedded proprietary technology belonging to the insurance brokerage and advisory firm. The new business will
Fairway moves into home insurance at origination Read More »