The US has a shortage of at least 10 million single-family homes, according to a new report from White House economists — a higher figure than some previous estimates from the government and the private sector. Processing Content “If homebuilding and the growth of the single-family housing stock had continued at their historical pace instead of […]
Housing shortage is at least 10 million homes, White House says Read More »
If you’re getting a tax refund this year, here’s something worth thinking about. That money could actually help you get closer to buying a home. It may not be something you’ve factored into your plan yet, but it can give your savings a nice boost right when you need it most. And whether your refund
Getting a Tax Refund? Here’s How It Can Help You Buy a Home Read More »
A class action lawsuit against a multichannel lender over spam calls could include over 50,000 members, a plaintiff claims. Processing Content Southern California-based Loanstream allegedly made 272,092 calls to 53,726 unique telephone numbers on the National Do Not Call registry over a 10-month stretch, according to a new case filing. Texas resident Kimberly Hudson-Bryant is
TCPA class action targets Loanstream over 272K spam calls Read More »
Mortgage rates had their best day of the month so far with the top tier 30yr fixed rate falling 0.08% for the average lender to the lowest levels in exactly 4 weeks. Today’s improvement is a bit bigger than today’s bond market movement would suggest. The discrepancy is due to timing. Bonds were improving fairly
Lowest Mortgage Rates in 4 Weeks Read More »
Larger loans are increasingly showing up throughout private-label residential mortgage-backed securitizations, even in transactions outside the jumbo sector, according to new research. Processing Content Balances of $1 million or more are becoming more common for securitizations in the market for loans made outside of the qualified mortgage definition’s parameters, according to a Bank of American
Jumbo loans are creeping into non-QM, HELOC securities Read More »
With mortgage rates sitting well above 6% for much of the last three years, nearly half of younger homeowners have struggled to make mortgage payments, an industry report finds. Processing Content Half of Gen Z homeowners and 44% of millennial homeowners were at risk of missing at least one mortgage payment over the last two
Gen Z, millennial homeowners struggle with mortgage payments Read More »
Assistant Attorney General for the Justice Department’s Civil Rights Division Harmeet Dhillon, pictured in 2023.Bloomberg News Processing Content Key insight: A $68 million-dollar settlement was heavily criticized because it failed to provide any restitution for thousands of victimized borrowers. What’s at stake: A federal judge questioned why $20 million of the settlement was earmarked to
Judge rejects DOJ-Colony Ridge settlement Read More »
Key takeaway: Federal Reserve Gov. Michael Barr said tariffs and the Iran war are short-term pressures on rural communities, while artificial intelligence will have longer-term, mixed effects. Expert quote: ‘Given rapidly changing circumstances, it is too early to know the path for prices as events in the Middle East unfold.” — Federal Reserve Gov. Michael
Fed’s Barr says tariffs, geopolitics weigh on rural areas Read More »
Quarter-to-quarter mortgage production at both JPMorgan Chase and Wells Fargo fell by about 2.5 times more than what the Mortgage Bankers Association is predicting for the industry, a Keefe, Bruyette & Woods flash note commented. Processing Content The MBA’s March forecast called for $1.46 trillion in volume for the first quarter, with just a $21
Chase, Wells mortgage slump: what it means for non-banks Read More »
Cornerstone Capital Bank in Houston announced it has launched a new qualified retirement plan that invests in its parent company’s stock and allows employees to share in ownership. Processing Content Company team members, including those in affiliated business arrangements, will be eligible to participate in the employee stock ownership plan. Joint venture and real estate
Cornerstone Capital Bank adds employee stock ownership plan Read More »