Pending sales of previously owned US homes climbed for a second month in March as a pickup in inventory helped mitigate higher borrowing costs. Processing Content An index of contract signings increased by 1.5% to a four-month high of 73.7, according to National Association of Realtors data released Tuesday. The median forecast of economists surveyed […]
Pending home sales climbed in March on improving supply Read More »
Stratmor has squashed a lawsuit from a disgraced mortgage executive who accused the advisory firm of giving him bad advice in a botched acquisition. Processing Content U.S. District Judge Charles Goodwin granted Stratmor’s motion for summary judgment last month in a breach of contract suit from First Mortgage Co. The long-defunct Oklahoma City-based lender accused
Stratmor beats lawsuit accusing it of bad M&A advice Read More »
Despite some initial signs of volatility in financial markets over the weekend, the bond market managed to avoid losing much ground. Because bonds dictate mortgage rate movement, the average lender remained very close to Friday’s latest levels. MND’s rate index (a measure of top-tier 30yr fixed rates) rose by 0.01% which is the smallest increment
Mortgage Rates Almost Perfectly Flat to Start New Week Read More »
The Veterans Affairs mortgage benefit got high marks in a survey of current and past military members, but more than half still have at a minimum one misconception about the program. Processing Content NewDay USA, which specializes in serving this community, commissioned the online survey of 1,238 people conducted by Researchscape between Feb. 18 and
VA mortgage survey reveals gaps in benefit awareness Read More »
Russell Vought, acting director of the Consumer Financial Protection Bureau, is also director of the Office of Management and Budget. He testified on Capitol Hill April 15.Bloomberg News Processing Content Key insight: The CFPB’s draft plan substantially cuts back on supervision of nonbanks, which bankers oppose. What’s at stake: The plan mandates a radical reduction
Banks assail nonbank oversight in CFPB deregulatory push Read More »
Second-home purchases in the U.S. show signs of pulling back in the years after their pandemic peak, with more than half of national volume currently concentrated in eight states. Processing Content In 2024, the total number of second homes came in at 6.2 million, representing 4.3% of total housing stock, according to an analysis of
Second-home volume shrinks from pandemic-era highs Read More »
Blue Owl Capital, which has been ramping up activity in the mortgage sector, announced Monday it bought Sila Realty Trust in an all-cash transaction valued at about $2.4 billion. Processing Content Certain affiliates of Blue Owl will acquire all outstanding shares of common stock of the healthcare-focused real estate investment trust for $30.38 per share,
Blue Owl acquires Sila Realty Trust for $2.4 billion Read More »
In late June 2022, First Guaranty Mortgage Corporation laid off 428 of its 565 employees. The CEO delivered the news in a prerecorded Teams message that ran roughly 10 minutes. Borrowers with loans in process learned what happened the same way everyone else did: from news coverage. Processing Content Weeks earlier, the company had been
The mortgage industry’s crisis communications problem Read More »
For US homebuilders, the Iran war dashed what little optimism they had left for this earnings season. Processing Content Developers including D.R. Horton Inc., Lennar Corp. and KB Home all missed expectations last quarter and estimates suggest both sales and earnings have fallen further as conflict in the Middle East unsettled buyers and raised costs.
Homebuilders set for another ‘lost’ earnings season Read More »
In what will be another quiet week on the economic calendar, Treasurys have begun trading slightly softer, but whether it turns out to be a quiet week news-wise is an entirely different story. Processing Content Friday saw all the Treasurys make solid gains even though the low 10-year and 30-year yields were made in the
Treasurys hold gains as oil, stocks flash mixed signals Read More »