Marc Savitt is a past president of the National Association of Mortgage Brokers and what you might call a guy who sees the glass "half full." In an interview the other day he told me that within two years home prices might be poised for a boom because of a lack of new building – even if the unemployment rate doesn't improve much. Meanwhile, although the broker sector is hurting (see the National Mortgage News website today for an update), he is starting to see more firms entertain the idea of reentering the wholesale space. Stay tuned…
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The lender specifies a broad range for penalties but filings by the third-party originator's attorneys cite testimony where the specific formula is unclear.
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Incomes have been rising faster than what buyers need to earn to afford one of these homes, but the annual gain began shrinking in January, Redfin found.
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An industry sentiment index hit a new low, with 45% of investors saying the current business environment has worsened compared to a year ago.
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About 7% of Zillow's workforce was let go, one of the steepest cuts in company history, trailing a 25% slice following the closing of Zillow Offers in 2021.
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The move is aimed at bringing additional mortgage servicing rights and investment expertise to the technology company and its capital markets division.
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The borrower allegedly forged a VA document that claimed exempt-free status, leading the lender to mistakenly cover the cost on his behalf, prosecutors said.
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