Finance of America Companies (FOA), which had previously borrowed $60 million from longtime backer Blackstone Group, has increased its borrowed amount to $85 million and extended the end of its repayment term from November 2024 to May 2025. This is according to an 8-K filing made this week by FOA wi

The list of defendants in the Masiello copycat commission lawsuit just got shorter. In a document filed on Monday, the counsel for the home seller plaintiff Joseph Masiello notified the federal court in Arizona that it was voluntarily dismissing defendant Walt Danley Local Luxury, an affiliate of Ch

Rocket Homes Real Estate rolled out its new app on Apple Vision Pro, Apple’s new virtual reality and mixed-reality headset. It will allow users to view and tour properties by blending their physical and virtual worlds, Rocket said.When homebuyers launch the Rocket Homes app in Apple Vision Pro, a ho

Introducing the NEW HousingWire Mortgage Rates Center, a resource for housing professionals to access real-time mortgage rates data and the insights that fuel understanding and decision-making.HousingWire is dedicated to providing housing professionals with the full picture, and while there are many

The U.S. Attorney for the Southern District of New York (SDNY) announced individual charges Tuesday in a sweeping case that involves kickbacks and bribes from the New York City Housing Authority (NYCHA), charging 70 current and former NYCHA employees with bribery and extortion.The investigation invo

Banks reported having tightened lending standards across almost all categories of residential real estate loans over the fourth quarter of 2023 amid an elevated interest rate environment.There’s some optimism, however. With the central bank expected to cut interest rates this year, banks reported th

Insellerate, a customer relationship management (CRM) provider that serves banks, credit unions and other lenders, has rehauled its user interface (UI) to make it more user-friendly and efficient.To redesign the interface, the company collected feedback from more than  250 loan officers, demonstrati

Dallas-based OneTrust Home Loans brought on James Hecht as its CEO to spearhead the company’s various mortgage lending divisions. As a result, co-founders Josh Erskine and Shane Erskine will be pivoting to the roles of CEO and president at Warp Speed Holdings, respectively. In a statement, Hecht exp

The 30-year fixed mortgage rate surpassed the 7% mark on Monday on the heels of strong economic data and the Federal Reserve signaling that it will move carefully with any future cuts to interest rates. The 30-year conforming fixed mortgage rate was at 7.04% on Mortgage News Daily and 6.91% on Housi

A U.S. appeals court has halted the enforcement of a Florida law that bans Chinese citizens from purchasing property in the state, multiple news outlets reported. The decision places the law on hold until the court rules on the merits of the case. The next step comes when the three-judge panel of th

Veteran mortgage executive James Seely has sued Guild Mortgage for allegedly failing to pay $750,000 in compensation after terminating his employment for cause by “manufacturing out of whole cloth spurious claims of Mr. Seely not working full time,” according to a recently filed lawsuit.“While we do

In my previous article, we discussed the importance of re-evaluating reverse mortgage marketing to “seniors” by dividing the current demographic into two groups: members of the post-World War II generation and baby boomers. This understanding informs our approach to marketing and sales, ensuring tha

Proptech company RealReports, formerly known as BHR, has successfully secured $2 million in seed funding. TTV Capital, Moderne Ventures, Erez Capital and other venture capital firms led the round of investment. With this capital infusion, the company aims to accelerate its product development, grow

Mortgage rates are back up over 7% this morning on the back of strong economic growth data. When the economy and job growth are stronger than expected, the bond market assumes that fewer rate cuts are coming. The 10-year bond yield jumped back over 4% and that pushes mortgage rates higher too. Mortg

Last year was largely a good one for the nation’s homebuilders, which were able to offer rate buydowns to attract more clients while maintaining double-digit profit margins. Additionally, the competition from existing home sellers was somewhat absent. An estimated 668,000 new homes were sold in 2023

Commission lawsuit defendant HomeServices of America is asking the U.S. Supreme Court to hear its argument that the Eight Circuit wrongly rejected arbitration agreements with unnamed class members in the Sitzer/Burnett commission lawsuit.In late October 2023, a Missouri jury found HomeServices of Am

By 2034, an estimated one in five residents of the state of California will be age 65 or older. While this won’t lead to a “silver tsunami” when it comes to a flood of housing inventory, the impacts of an aging population are difficult to ignore.These shifting dynamics are causing the California sta

There was rampant speculation after the Federal Open Market Committee (FOMC) meeting last week about the timing and number of interest rate cuts this year. In a follow-up interview on 60 Minutes on Sunday, Federal Reserve Chairman Jerome Powell did not sound like someone who has pivoted. In fact, Po

How will mortgage rates impact seasonal inventory in 2024? Is the seasonal bottom going to happen later than I want? Maybe. It’s not what I wanted to see in 2024, but I have to be realistic since we are already in February. In the last four years, we have had abnormal seasonal inventory data, meanin