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Tech Pulse: Lawmakers press FHFA on crypto for mortgages

Artificial Intelligence, Bill Pulte, Cryptocurrency, FHFA, HWmember, MLS, Mortgage, northwest mls, Opendoor, Real Estate, Real Estate Agents, Technology /

Welcome back to Tech Pulse — HousingWire‘s weekly series rounding up the latest in technology news, including tools, integrations and trends that impact mortgage and real estate. Here’s what happened this week: Senate Democrats press FHFA on crypto use in mortgages Five Senate Democrats are urging caution as the Federal Housing Finance Agency considers allowing unconverted cryptocurrency in mortgage underwriting. […]

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To the moon! Opendoor is Reddit’s new memestock

HWmember, iBuying, Opendoor, Real Estate, Social Media, Stock Market /

Move over, Gamestop — there’s a new memestock in town. The equity price of iBuyer pioneer Opendoor has surged of late, and it appears entirely driven by Reddit’s infamous Wall Street Bets subreddit and other social media platforms. As of Monday morning, Opendoor shares were trading for $3.31, a shocking 429% rise in just one

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Opendoor will pay $39M to settle pricing algorithm lawsuit

Artificial Intelligence, Brokerage, HWmember, iBuying, Investors, Lawsuit, Legal, Opendoor, Real Estate, Technology /

Opendoor has agreed to pay $39 million to settle a lawsuit that alleges the company misled investors about the reliability of its pricing technology, according to court documents filed Friday. The proposed settlement — filed in federal court in Arizona and first reported by Reuters — must still be approved by U.S. District Court Judge

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What do you call an iBuyer that isn’t iBuying houses?

Housing Inventory, HWmember, iBuying, OfferPad, Opendoor, Real Estate /

Opendoor looked like it had the potential to disrupt the entire residential real estate industry when it launched in 2014, but today it and competitor Offerpad are almost afterthoughts. The so-called iBuyers have yet to find a way to consistently turn a profit, and their presence in the industry has slowly shrunk. With macroeconomic headwinds

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