Nearly two-thirds of the 12 Federal Reserve banks reported in early January that home sales and construction activity in their districts are cooling.The Fed's Beige Book reported "some cooling" of housing markets in the Boston, New York, Cleveland, Richmond (Va.), Atlanta, Chicago, and Minneapolis Federal Reserve bank districts. In addition, the hottest real estate markets in Southern California and the San Francisco Bay area "have cooled," the Beige Book says. However, Federal Reserve banks in Kansas City and Dallas continued to see "strong housing markets." And construction and repair work in the hurricane-stricken areas of Louisiana and Mississippi "remained brisk." Meanwhile, commercial real estate markets continued to improve, and reports of new construction activity are increasing, according to the Beige Book.
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
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Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
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A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25