Bankrate Inc., New York, has announced an agreement to acquire three websites from East West Mortgage Inc. for $4.4 million in cash.The websites are Mortgage-calc.com, Mortgagecalc.com, and Mortgagemath.com. "We intend to leverage the consumer traffic generated by these websites into the Bankrate.com offering within the next week," said Thomas R. Evans, president and chief executive officer of Bankrate Inc. Bankrate can be found on the Web at http://www.bankrate.com.
The servicer will pay $4.5 million in remediation to affected homeowners for incorrectly imposing force-placed insurance on thousands of borrowers.
The trade group supports a narrow rewrite of the agency's manufactured home definition but it wants FHA valuation projections before lenders can scale.
Pending home sales, a real-time indicator of homebuying demand, dropped 2.5% to their lowest level since December, according to Redfin's latest report.
Mortgage production declined overall in July from activity earlier this summer amid growing rate volatility, according to two new originations reports.
Long Island-based Dime Commercial Bancshares, which continues to transform itself from a thrift into a commercial bank, is eyeing additional expansion in the Garden State.
In the latest round of posturing between the one-time merger partners, Two Harbors said the filing was part of a "familiar refrain" by UWM to blame others.
