Adobe Stock Mortgages no longer sit atop the payment hierarchy, as distressed consumers are 19% more likely to pay their auto loans first, according to FICO’s inaugural Score Credit Insights report released Tuesday. Mortgages had previously held the top spot from 2020-22. For consumers with open auto loans and mortgages, the 90-plus-day delinquency rate from […]
Auto loans pass mortgages on payment hierarchy Read More »
A federal judge in Colorado ruled against a motion to dismiss from Rocket and Solidifi over allegations of appraisal bias that the U.S. government has pursued. The homeowner involved, Francesca Cheroutes, is part of the complaint as an intervening plaintiff. The motions sought to dismiss the allegations raised by both the government and Cheroutes. The
Judge rejects Rocket’s motion to dismiss discrimination suit Read More »
U.S. property owners saw home equity pull back in the second quarter as housing cost growth moderated, but while accrued amounts still sit near recent highs, the rise in underwater loans is raising concerns. Homeowners lost an average of approximately $9,200 in equity on a year-over-year basis between April and June, according to the report
Home equity values decline from a year ago Read More »
Property insurance costs have gotten so high in Miami, that more than one-in-every-five homes do not have coverage, a study from Valuepenguin found. Nationwide, in the nation’s 50 largest metro areas, homeowners spend an average of 7% of their expenses on property insurance. But in Miami, 13.1% of monthly homeownership costs go toward coverage, followed
Miami property insurance so costly that 20% skip getting it Read More »
Angel Garcia/Bloomberg The Trump administration has made efforts during its first eight months back in office to legitimize cryptocurrency in the U.S. economy, and Linkhome Holdings is getting ahead of the curve. The AI-powered real estate company launched a platform that allows buyers to purchase property with cryptocurrency, it announced in a press release Monday.
Real estate company launches crypto-based platform Read More »
The American Land Title Association has filed an amicus brief in support of Fidelity National Financial, which is suing the Treasury Department and the Financial Crimes Enforcement Network, looking to stop an anti-money laundering regulation reporting requirement. The Biden Administration promulgated the rule, which is set to go into effect on Dec. 1. FNF sued
ALTA files brief in support of Fidelity in Fincen case Read More »
Rows of houses stand in Las Vegas, Nevada, U.S., as seen in this aerial photo taken on Tuesday, Sept. 22, 2009. Photographer: Jacob KeplerJacob Kepler/Bloomberg The housing market is edging toward becoming buyer friendly, as inventory reached multi-year highs and purchase demand remained strong last month, according to HouseCanary’s latest Market Pulse Report. Total for
Inventory, demand continue to improve in housing market Read More »
Mortgage credit availability inched upward in August, continuing in a direction that indicates some stabilization in the mortgage market, according to the Mortgage Bankers Association. The MBA’s Mortgage Credit Availability Index increased 0.1% to 104 last month. The report follows July’s marginal rise of 0.2% and marks two consecutive months of gains after a 1.3%
ARMs drive slight boost in credit availability Read More »
The 30-year mortgage without a prepayment penalty has long been standard in the U.S., but the latest round of GSE reform has some former officials questioning it. The debate has new relevance given that two influential GSE loan buyers that have been in government conservatorship are now exploring potential restructuring with industry input. Many housing
GSE talks revive push for 30-year loan changes Read More »
Opendoor Technologies Inc. shares surged by as much as 69% Thursday after announcing the return of its co-founders to the board and a new chief executive officer. If the advance holds it will be the biggest one-day gain for the home-flipper turned meme stock on record — continuing its blistering 450% run up since mid-July
Meme-darling Opendoor’s shares soar as founders rejoin board Read More »