Former US President Donald Trump speaks during a news conference following a meeting with Senate Republicans at the National Republican Senatorial Committee (NRSC) office in Washington, DC, US, on Thursday, June 13, 2024. Trump’s brand on Wall Street, once tarnished by the US Capitol attack and his bombastic political rhetoric, has made a near-full recovery, […]
White House reportedly set home investor size sought in ban Read More »
A Virginia-based retail lender which generated hundreds of millions of dollars of origination volume annually since 2022 has shuttered. Processing Content City Lending CEO Jorge Campodonico shared the news Wednesday on LinkedIn, and the company’s website this week stated it was no longer conducting business. The independent mortgage bank reported $446 million in origination volume
Virginia-based City Lending shuts down Read More »
Veterans United Home Loans is the target of a potential class-action lawsuit over alleged illegal predatory practices. Processing Content The three plaintiffs, all military veterans, accused the lender of deceptively suggesting it was part of the Department of Veterans Affairs or the federal government and steering clients to more costly loans, the filing said. The
Lender sued for steering and deceiving military veterans Read More »
As home-price growth has flattened, the average down payment has decreased, according to a new industry report. Processing Content The typical homebuyer’s down payment in the United States decreased 1.5% year over year to $64,000 in December, the first drop in five months, Redfin found. That’s 15.2% of the average purchase price, compared with 16.7%
Average down payment falls amid price cooling Read More »
Fair housing organizations are pushing back against the early termination of a consent order between the Department of Justice and Lakeland Bank over a redlining settlement. Processing Content The Public Interest Law Center filed a proposed amicus curiae brief arguing against a joint motion to end another Biden-era redlining agreement early. The document said the
DOJ, Lakeland redlining settlement contested by advocates 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 »
A federal district court in Washington State denied a claim for a preliminary injunction in a lawsuit to halt a special-purpose credit program aimed at addressing racial disparities in homeownership rates Processing Content Nonprofit advocacy group Foundation Against Intolerance and Racism first filed suit in late 2024 against the Washington State Housing Finance Commission. Founded
Judge denies motion to halt racial equity mortgage program Read More »
After a multi-year contraction, the mortgage lending workforce is seeing its first uptick in licensing since 2022. Recent data from the Conference of State Bank Supervisors suggests the steady exodus of loan officers has finally paused, though the industry remains cautious about expanding headcount. Processing Content A break in the licensing decline As of the
Mortgage licensing ticks up as industry eyes 2026 reset Read More »
Profits for Intercontinental Exchange’s mortgage technology operations remained in the black for the third straight quarter, as the company touted its software adoption even as customers adjusted for recent slowdowns in volume. Processing Content Revenues for the mortgage unit increased to approximately $532 million in the fourth quarter, increasing from $528 million in the previous
ICE reports strongest mortgage revenue in over 3 years Read More »
Economic trends look to be a primary driver in growth of the home equity investment segment, which is seeing investor interest and liquidity enter the market in the new year but also ongoing legal obstacles. Processing Content Current housing costs are paving the way for consumer uptake. In a survey conducted last summer by HEI
HEIs see boost from investors but also legal setbacks Read More »