Buyers have significantly more negotiating power than sellers in the housing market today, resulting in a record amount of home-sale cancellations, a new industry report found. Processing Content More than 42,000, or 13.7%, of home-sale agreements in the United States fell through last month, according to a Redfin report. That’s the highest February share in […]
Home sales cancelled at record rate as buyers hold power Read More »
Senator Josh Hawley, a Republican from Missouri, during a hearing on Wednesday, April 17, 2024. Photographer: Graeme Sloan/BloombergGraeme Sloan/Bloomberg A Republican senator launched a new investigation into the leading provider of mortgage borrower credit scores, reiterating prior criticism of a “monopoly” he says proves detrimental to aspiring home buyers. Processing Content Alongside his own investigation
Senator calls for FTC investigation into FICO score pricing Read More »
The Goldman Sachs Mortgage Company is sponsoring a $359.4 million residential mortgage-backed securitization (RMBS), capitalizing a pool of non-qualified mortgages extended primarily to investors. Processing Content GS Mortgage-Backed Securities Trust, 2026-R1 will issue the notes through seven tranches of classes A, M and B notes, which all have a final scheduled maturity date of April
A Goldman-sponsored RMBS pool will raise $359.4 million Read More »
That kitchen you’ve been mentally redesigning… The bathroom that really needs a refresh… Or the outdoor space you keep saying you’ll get to someday… What if you already have what you need to finally make it happen? Because a growing number of homeowners are realizing just that. Homeowners are expected to spend over $522 billion
The Remodel You’ve Been Dreaming About May Be Closer Than You Think Read More »
Mortgage rates are dictated by bonds and bonds had a volatile day. During overnight trading hours, bonds suggested we should brace for the impact of even higher rates. Things changed just after 7am ET following headlines that suggested progress on the Iran war. Although volatility continued in the ensuing hours, bonds ultimately settled in stronger
Mortgage Rates Move Modestly Lower Amid Market Volatility Read More »
Part of a recent executive order from President Trump that calls for potential changes to the qualified mortgage definition and its safe harbor could increase competition for certain types of loans, depending on how and if it progresses. Processing Content Changes that the broader mortgage credit order calls for include having the Consumer Financial Protection
How Trump’s EO could redraw QM’s safe harbor lines Read More »
An elaborate scheme involving 11 perpetrators, stolen identities and title fraud has resulted in $6 million in lender losses and criminal charges against the alleged scammers, according to new court documents. Processing Content Federal prosecutors arrested the defendants, who were arraigned in Southern California and Florida courts late last week, following a grand jury indictment
Synthetic IDs, false docs play role in $6M home lending scam Read More »
Despite mortgage rates reaching nearly 4-year lows last month, the gap between sellers and buyers in the housing market grew to its largest size on record. Processing Content There were an estimated 630,000, or 46.3%, more home sellers than buyers in the United States in February, according to a new Redfin report. That is the
Sellers outnumber buyers by record margin in February Read More »
Enjoy complimentary access to top ideas and insights — selected by our editors.Want unlimited access to top ideas and insights? Subscribe Now Last week, Federal Housing Finance Agency Director Bill Pulte announced that the GSEs were rolling back roof insurance requirements for condo buildings to allow them to purchase actual cash value (ACV) policies instead
Pulte got the condo insurance call right Read More »
Two Harbor released a statement early Monday calling CrossCountry’s unsolicited acquisition offer “superior” to other acquisition proposals it has received, but noted that determination is not set in stone amid ongoing competition from prospective buyers. Processing Content CrossCountry has offered to buy all Two Harbors’ stock for $10.70 cash. Two Harbors said CrossCounty also pledged
CrossCountry, UWM vie for Two Harbors in bidding war Read More »