A new Weston Edwards survey of affiliated business arrangements shows that real estate brokerage firms are favoring joint ventures with mortgage lenders over operating wholly owned mortgage subsidiaries.The Weston Edwards survey of 220 of the top 350 real estate brokerage firms found that 36% have wholly owned mortgage subsidiaries, compared with 45% in 1998. Meanwhile, 41% of the real estate brokerage firms have joint ventures with mortgage lenders compared with 37% in 1998. The survey also found that 66% of RE brokerage firms offer title and closing services. The new survey is expected to be released the week of Aug. 30. Sue Johnson, executive director of the Real Estate Settlement Providers Council, gave a sneak preview of the new survey at the annual convention of state real estate mortgage regulators in Washington.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
18m ago -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
1h ago -
In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
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Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
March 27 -
The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27 -
The lender accused its former leader of compromising its Fannie Mae seller/servicer number to prevent it from delivering loans.
March 27