The Latest

Contract closings decreased 0.9% from the prior month to an annualized 5.8 million, according to data out Tuesday from the National Association of Realtors.

With the Biden administration signaling that it will prioritize enforcement of federal rules around discriminatory lending, many mortgage firms don't have internal measures in place to ensure compliance of them, writes the internal audit manager of Mortgage Quality Management and Research.

The company plans on trading on the New York Stock Exchange under the ticker symbol BLND

The scheme's victims included an elderly woman and a local title agency that lost $230,000 in the fraudulent property transfer.

The high court sent the case back to the New York-based 2nd U.S. Circuit Court of Appeals to revisit whether the dispute can continue as a class action lawsuit.

While usage of this process in mortgage closings picked up steam last year, only 34 states have permanent laws in place and two do not permit it at all.

So far companies plan on using roughly the same number of employees as they shift from handling payment suspensions to assessing borrowers who have seen long-term declines in their incomes.

Experts expect only a small uptick in distressed mortgages, either through default or inability to refinance, which will create some opportunity for debt buyers

Also: Homespire, Nations Lending, CapStar make new hires across the country, housing market conditions relax (a bit) in May

The Consumer Financial Protection Bureau at press time had promised to take the sudden nature of the new holiday’s implementation into consideration as it consulted with other agencies on the issue.