There are about 80,000 veterans in the U.S. who are behind on their mortgages and heading toward foreclosure, according to data from ICE Mortgage Technology, a number that could have been alleviated with help from the Veteran Affairs Servicing Purchase (VASP) program. But just last month, the program was abruptly discontinued by the U.S. Department of Veterans […]
Without VASP, veterans don’t have a foreclosure safety net Read More »
A New York real estate agent known for her appearance on Netflix’s “Million Dollar Beach House” was killed in a hit-and-run Thursday afternoon in the Hamptons, according to local reports. Sara Burack, 40, was found unconscious on a Hampton Bays road on Thursday afternoon. Authorities said she was pronounced dead at the scene. The driver
Netflix-featured real estate agent killed in hit-and-run Read More »
Real estate brokerages with revenue share models provide agents with a way to generate income beyond closing transactions with their own clients. But when it comes to creating a robust revenue-share downline, agents at two revenue share brokerages — eXp Realty and The Real Brokerage — say there is no one right way to build
Top agents on how they built successful revenue share downlines Read More »
Adding fuel to what the baby boomer generation has been consistently saying for some time, a new Redfin survey shows that one-third of all boomer homeowners have no intention of selling their home. This further legitimizes claims that a “silver tsunami” of housing inventory is unlikely to materialize from older homeowners. While another 30% said
Redfin data reinforces boomers’ desires to remain in their homes Read More »
With Thursday being a federal holiday, banks (and more importantly, the underlying market for mortgage related bonds) were closed. This means that lenders were not able to update mortgage rates. It turns out that it wouldn’t have mattered either way as the average lender has barely budged from Wednesday’s levels. But let’s not miss an
Mortgage Rates Hold Steady Read More »
In the aftermath of the Federal Open Market Committee’s June meeting, certain interest rate spreads should narrow, but the overall impact for mortgages is mixed, a Keefe, Bruyette & Woods report said. Part of that depends on which segment of the industry the company operates in. Mortgage rates remaining elevated, with the 30-year fixed only
Mortgage servicers benefit most from Fed’s inaction: KBW Read More »
Stefani Reynolds/Bloomberg The Treasury Department is working with the bank regulators to finish the U.S.’s Basel committee-pursuant capital standards with an eye to clearing obstacles for American firms and “harmonizing” regulation of the financial system, the deputy secretary said Friday. Michael Faulkender said parts of the capital framework issued by the Basel committee would be
Top Treasury official wants to ‘Americanize’ any Basel rule Read More »
A new bill signed into law this month is set to protect some New England homeowners from foreclosure on years-old zombie seconds many likely had forgotten existed. Connecticut Gov. Ned Lamont signed new legislation into law earlier this month that establishes protections for borrowers with secondary piggyback or 80/20 mortgages whose last payments were recorded
Foreclosure protection from zombie seconds signed into law Read More »
Longtime Valley National Bancorp CEO Gerald Lipkin, who built the one-time New Jersey community bank into a regional institution with more than $23 billion of assets, passed away Wednesday at age 84. Gerald Lipkin, who spent nearly three decades as CEO of Valley National Bancorp in New Jersey, presiding over its expansion into a regional
NJ bank mourns death of longtime CEO Gerald Lipkin Read More »
Home prices continued to rise in May, reaching a new high even as fears of tariffs, trade wars, and economic uncertainty swirl through the broader economy. The median sale price for a home reached an all-time record of $396,500 during the four weeks ending June 15, according to Redfin. This was up 1% from the
High home prices hide broader slowdown as demand drops Read More »