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Fairway Independent Mortgage Corp. has agreed to settle with the Consumer Financial Protection Bureau (CFPB) and the U.S Department of Justice (DOJ) over the regulators’ allegations of mortgage lending discrimination in majority-Black neighborhoods of the Birmingham, Alabama , metro area. The agreement, which was submitted for court approval, requires the Madison, Wisconsin-based mortgage lender to pay a $1.9 million civil penalty.
While some believe the “American Dream” is still attainable in today’s market, new Point2 data showed that a growing number of prospective homebuyers do not see themselves as homeowners, citing a combination of factors such as mortgage rates, availability, and growing home prices. Because many Americans don’t believe homeownership is likely in their future, renters of single-family homes have grown to be a major force in the residential market, greatly influencing the post-pandemic environment.
The Federal Communications Commission (FCC) — the regulatory body that oversees communications across a wide variety of media including radio, telephone and the internet — announced that new rules related to the Telephone Consumer Protection Act (TCPA) will go into effect in April 2025. The new guidelines are designed to make it easier for consumers to revoke consent for unwanted robocalls and texts.
The Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) based on data analysis from ICE Mortgage Technology , indicates a drop in mortgage credit availability in September. Key Findings from the Mortgage Credit Availability Index: In September, the MCAI dropped by 0.5% to 98.5. While increases in the index point to looser credit, a decrease in the MCAI suggests tighter lending requirements.
Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.
Fannie Mae on Tuesday announced enhancements to its Expanded Housing Choice (EHC) initiative, opening it up to all jurisdictions without source-of-income protections. The government-sponsored enterprise (GSE) said the Housing Choice Voucher program, which launched in 2022, assists very low-income families, seniors and people with disabilities in being able to afford stable and quality housing in the private market.
Fannie Mae has announced enhancements to its Expanded Housing Choice (EHC) initiative , making the program available in all jurisdictions without a source of income protections, for new loans to multifamily property owners who accept U.S. Department of Housing & Urban Development (HUD) Housing Choice Vouchers (HCVs). The HCV program helps very-low-income families, senior citizens, and people with disabilities afford stable and quality housing in the private market.
Fannie Mae has announced enhancements to its Expanded Housing Choice (EHC) initiative , making the program available in all jurisdictions without a source of income protections, for new loans to multifamily property owners who accept U.S. Department of Housing & Urban Development (HUD) Housing Choice Vouchers (HCVs). The HCV program helps very-low-income families, senior citizens, and people with disabilities afford stable and quality housing in the private market.
Confusion and chaos are still a reality for some real estate professionals in the wake of the NAR settlement-mandated business practice changes, but preparation has been key to minimizing the negative impacts. (Image generated by AI in Midjourney) It has been nearly two months since the nationwide implementation of the business practice changes outlined in the National Association of Realtors’ commission lawsuit settlement agreement.
Navigating Mortgage Law: Insights with Stephen Hladik from Hladik Onorato & Federman In this episode of the MP Access Show, we’re thrilled to welcome Stephen Hladik, a Partner at Hladik Onorato & Federman, LLP, and a highly respected expert in mortgage foreclosure, bankruptcy, and lending law compliance. With a career that spans decades, Stephen brings a wealth of experience from his time as a Deputy Attorney General in Pennsylvania to his current role where he works closely with mortgag
The nation’s most expensive neighborhoods are once again in coastal states. A recent report from real estate data provider PropertyShark ranked California , New York and Florida as the states with the most expensive ZIP codes in 2024. The report listed the 100 most expensive ZIP codes between Jan. 1 and Sept 30 of this year based on prices for closed residential sales.
An increasing number of Americans are open to the idea of living in modular housing, a recent survey conducted for Amherst shows. The survey, conducted by Wakefield Research , concludes that modular housing can contribute to bridging the supply/demand gap for single-family homes. The ongoing lack of housing supply has Americans seeking alternative options.
Construction projects are high-stakes operations where even minor inefficiencies can lead to costly delays, safety concerns, and budget overruns. Managing risk in construction has always been a challenge, but as projects grow in complexity, traditional methods no longer cut it. Enter Digital Transformation - a game changer approach that replaces inefficiency with AI-powered analytics, real-time monitoring, and automated workflows to proactively manage risk.
Title valuation , brokerage and consulting services firm Title Success, which is powered by Bowe Digital , announced Monday that it has launched a newly designed website. The new site offers a listing service for title companies looking to sell their operations. Title insurance agency owners interested in mergers and acquisitions can use the site to search for potential deals — filtering their searches based on location, asking price, gross revenue, company ID, number of employees, number of loc
“People are buying” — and living in — these futuristic homes, with dozens sold at a community in Texas, and more widespread adoption expected in five years
Homie Technologies’ bombshell antitrust lawsuit has one fewer defendant. On Friday, the brokerage notified the court that it was voluntarily dismissing Wasatch Front Regional MLS , which does business as UtahRealEstate.com , from the suit. But the MLS defendant was dismissed without prejudice, which means Homie could refile its suit against UtahRealEstate.com.
A new statement from the agency suggests that when information is shared only among competitors — like trade group members — it sets off antitrust alarm bells.
Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.
Brian McKinney, formerly the CEO of Benchmark Mortgage (a dba of Ark-La-Tex Financial Services ), has joined PrimeLending in a newly created executive position. McKinney, who’s been CEO of Benchmark since 2016, will serve as executive vice president for growth and strategic development at PrimeLending. He’s tasked with exploring new revenue opportunities and driving company growth.
Nearly a quarter of first-time buyers may wait even longer, to see if down payment help or other candidate promises materialize in 2025, a Redfin survey found.
In the newest episode of the PowerHouse podcast, HousingWire CEO Clayton Collins sits down with Greg Schwartz, CEO of Tomo , to discuss market recovery indicators and Tomo’s recent investments in artificial intelligence (AI). Schwartz also shares his approach to building a mortgage company alongside tips on work-life balance, market dynamics and more.
Mortgage credit availability decreased in September, falling 0.5% to a score of 98.5 on the Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI). A decrease in the index score indicates that lending standards are tightening, while increases are indicative of loosening credit. The index was benchmarked to 100 in March 2012. Credit availability for conventional loans decreased 1.7% while credit availability for government loans increased by 0.8%.
About a year ago, I started noticing a parallel between the housing market and the labor market. Unemployment in the country is very low. Everyone has a job. The conventional wisdom for almost three years has been that job market must weaken, unemployment must be rising. But for three years, unemployment has stayed low. Normally when unemployment is this low, people are confident that they’ll find a new job and they are much more likely to quit a current gig that isn’t right for them.
Agile , which offers technology that brings mortgage lenders and broker-dealers onto a single platform, has launched limit orders , a new quote request type for the To-Be-Announced mortgage-backed securities (TBA) market. Limit orders allow traders on Agile to request a specific price level, rather than conducting an open-ended bid process, giving them greater confidence and freeing precious time, especially during periods of market volatility.
With high prices and still stiff competition, those looking to buy a home in today’s real estate market need to consider every opportunity, including the choice between new construction or a resale home. Both options have their advantages and drawbacks. Although the decision is ultimately highly personal and based on a buyer’s budget, needs, and preferences, there are a few things agents need to consider to help them make the best decisions.
U.S. home prices increased 5.9% in the third quarter compared with the second quarter and were up 5.9% compared with the third quarter of 2023, according to the Fannie Mae’s quarterly home price index report. This represents a deceleration compared to the previous quarter’s downwardly revised annual growth rate of 6.4%, the firm says. “Despite decelerating slightly, home price growth remained robust in the third quarter, as the supply of homes for sale, particularly on the existing side, remaine
Mortgage credit availability decreased in September, according to the latest Mortgage Bankers Association (MBA) analysis of ICE Mortgage Technology data. The MBA’s Mortgage Credit Availability Index (MCAI) fell by 0.5% to a reading of 98.5 in September. The MCAI for conventional loans fell by 1.7%, while the corresponding index for government loans increased by 0.8%.
Former Benchmark Mortgage CEO Brian McKinney has been charged with driving company growth following the launch of a more inclusive mortgage underwriting process and home equity product.
The Mortgage Industry Standards Maintenance Organization (MISMO) is targeting January 2025 as the release window for reverse mortgage standards from its work group that is analyzing and developing the standards, according to a statement released Tuesday by Mortgage Cadence. “Interestingly, traditional forward mortgage lenders are beginning to take notice of the reverse mortgage opportunity, albeit cautiously,” the informational blog posted reads.
The typical Hispanic-owned home is now valued 11.9 percent below that of a non-Hispanic white-owned home, the smallest property value gap on record, according to a Zillow analysis released Monday.
Not only are Tal and Oren Alexander — the co-founders of Official Partners — under fire for an alleged string of sexual assaults , but the brothers are now facing a suit from Side , the white-label brokerage that powers their firm. In a suit filed Friday in U.S. District Court in San Francisco, Side alleges that Tal and Oren Alexander, as well as Official Partners, have breached contracts held with Side.
In 2023, 64.8% of all new single-family homes started were built within a community or homeowner’s association. This share increased from the 62.6% recorded in 2022, according to data tabulated from the Census Bureau’s Survey of Construction (SOC). This marks the third highest share since the beginning of the series in 2009, after the high.
The honorees in five categories highlight groundbreaking AI-powered products, services, platforms and those who are maximizing their businesses with these solutions.
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