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Author name: Ricky Vasquez

Mortgage bankers ask OMB to end or revise several rules

Homebuilders, Originations, Politics and policy, Regulation and compliance, Servicing /

The Mortgage Bankers Association has responded to the Office of Management and Budget’s request for information on “unnecessary, unlawful, unduly burdensome and unsound rules” with several origination and servicing policy suggestions. There already has been pullback from some of the policies the association is calling for the Office of Management and Budget to rescind, with […]

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Lower acquires Movoto, as it pushes to build end-to-end platform

Industry News, M&A /

Mortgage lender Lower is acquiring Movoto, a home search website, from prior parent company OJO Labs, the companies announced Tuesday. The combination of the two firms will create “an end-to-end homeownership platform” connecting consumers, originators and real estate agents. The vision echoes a similar one pursued by Rocket Companies through its acquisition of Redfin, announced

Lower acquires Movoto, as it pushes to build end-to-end platform Read More »

Churchill Mortgage ESOP suit may pay out nearly 300

Industry News, Law and legal issues /

Former Churchill Mortgage employees moved one step closer to getting a $850,000 settlement approved by a federal court in Tennessee over claims that their employee retirement accounts were mismanaged.  The proposed settlement would dole out approximately $850 per class member and over $200,000 would be paid to attorneys representing plaintiffs. If approved, the deal would

Churchill Mortgage ESOP suit may pay out nearly 300 Read More »

Banks face repeat of data-sharing fight with CFPB move

Banks face repeat of data-sharing fight with CFPB move

CFPB News & Analysis, Regulation and compliance /

Frank Gargano A U.S. consumer watchdog looks poised to tear up a rule on customer financial data sharing and start all over again — but with a depleted staff, a potentially drained budget and all of the same thorny issues. The Consumer Financial Protection Bureau is likely to scratch and rework its open-banking rule, which

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GOP tax bill prioritizes Trump campaign vows, increases SALT

Property taxes, Servicing /

President Donald Trump’s campaign tax pledges — no taxes on tips and overtime pay, plus new tax breaks for car buyers and seniors — are the centerpiece of a multitrillion dollar package that will serve as Republicans’ signature legislative effort. In a draft version of the tax bill released on Monday, House Republicans highlighted the

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CPI inflation continues to trend down despite tariff rollout

CPI inflation continues to trend down despite tariff rollout

Economy, Inflation, Monetary policy, Politics and policy /

Bloomberg News Prices continued to trend down toward the Federal Reserve’s 2% target last month despite the rollout of sweeping tariff hikes. The Consumer Price Index rose 0.2% in April for an annualized increase of 2.3%. Core CPI, which factors out food and energy, was up 0.2% on the month and 2.8% year over year.

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Why Buyers Are More Likely To Get Concessions Right Now

Why Buyers Are More Likely To Get Concessions Right Now

Buying Tips, For Buyers /

Especially in areas where inventory is rising, both homebuilders and sellers are sweetening the deal for buyers with things like paid closing costs, mortgage rate buy-downs, and more. In the industry, it’s called a concession or an incentive. What Are Concessions and Incentives? When a seller or builder gives you something extra to help with

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Redfin stockholder files suit over disclosures in Rocket deal

Glenn Kelman, Goldman Sachs, HWmember, Lawsuit, Legal, Mergers and Acquisitions, Mortgage, Real Estate, Redfin, Rocket Companies /

While much of the housing industry views Rocket Companies’ proposed acquisition of Redfin as a foregone conclusion at this point, at least one common stock holder is saying not so fast.  On Friday in U.S. District Court in Seattle, plaintiff Jason Morano filed a lawsuit accusing the two companies of breaching their contracts, engaging in

Redfin stockholder files suit over disclosures in Rocket deal Read More »

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