Origination

A report reveals Heartland Tri-State Bank's failure last year was due to its CEO being ensnared in a sophisticated investment scam that is taking more victims.

The wholesale lender wants its logo removed from the Facebook page and for Ramon Walker, the creator of the page and owner of Client Direct Mortgage, to pay over $100,000 in outstanding EPO.

The company, which has paired down its operations to concentrate on reverse mortgages, got a similar notice in December.

A deal between consumers and a Multiple Listing Service doesn't solve the issue of buyer brokers "steering" clients to listings with higher commissions, lawyers for the government said.

U.S. new-home construction sank at the start of the year by the most since the onset of the pandemic, indicating the recovery in the housing market will be gradual as many buyers await a further decline in mortgage rates.

The New York-based firm said a hack last August compromised the personal identifiable information of 10,835 customers.

Investors have hammered the New Jersey-based lender following the turmoil at New York Community Bancorp. But Valley executives say there are key differences between the two real estate-focused banks, and they express confidence that the bank's underwriting will hold up again this cycle.

The National Association of Home Builders/Wells Fargo gauge of housing market conditions rose by 4 points to 48 this month, according to data released Thursday.

For the first time since mid-December, the Freddie Mac survey reports mortgage rates over 6.7%.

The company was able release credit reserves because of actual and forecasted prices that boosted net income, CEO Priscilla Almodovar said.