The Federal Reserve has agreed to extend to depository institutions at least $40 billion in increments against mortgages or other collateral in an effort to counteract the global credit crunch.The Fed will provide the liquidity through two auctions of $20 billion each in December and plans to hold two more in January for amounts to be determined. The Bank of Canada, the Bank of England, the European Central Bank, and the Swiss National Bank also took steps Dec. 12 to try to restore liquidity to the market.
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New guidelines regarding buy-side and sell-side real estate agent compensation are set to go into effect this summer.
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Affordability challenges also have some aspiring homeowners taking second jobs or looking to draw from retirement savings, according to Redfin.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
March 28 -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28 -
The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
March 28