Dallas tornado leaves 15 miles of homes with at least 50% damage…

21-10-2019

A series of tornados touched down in Dallas Sunday night, one gliding along the ground for an estimated 14 to 16 miles. And much of that area has at least 50% destruction probability, new data from CoreLogic shows. The sirens wailed across Dallas as a tornado was confirmed to have touched...

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Harvard: Remodeling market to stall in 2020

21-10-2019

Home renovation spending reached a record high this summer, according to Harvard University’s Joint Center for Housing Studies. Although they expected those numbers to continue to soar through the end of 2019, the JCHS now says it expects a complete stall come 2020. (Image courtesy of Harvard University’s Joint Center...

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Woodbridge founder Robert Shapiro gets 25 years in prison for $1.3 billion…

21-10-2019

Robert Shapiro, the founder of the Woodbridge group of companies, will spend 25 years in prison after pleading guilty to charges that orchestrated a $1.3 billion real estate Ponzi scheme that bilked thousands of investors out of hundreds of millions of dollars. Nearly two years ago, the Securities and Exchange Commission sued Shapiro for allegedly running a...

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Zillow Offers launches in another Florida market

21-10-2019

The ever-growing iBuying service Zillow Offers has now expanded into Tampa, Florida. Starting Monday, homeowners in the Tampa region can now receive an initial cash offer from Zillow within 48 hours of putting their home on the market. Zillow Offers is already available in other parts of Florida, including the...

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U.S. Bank brings on Peter Gordon as head of emerging payments product…

21-10-2019

U.S. Bank has hired industry veteran Peter Gordon as executive vice president of emerging payments product and strategy, the company announced late last week. In this role, Gordon will be tasked with overseeing the strategy and product development of emerging payments products and services at U.S. Bank. “Peter is not only...

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Harvard: Remodeling market may stall in 2020

21-10-2019

CNBC's "Power Lunch" team talks about why home improvement has stalled with Abbe Will, associate project manager at Harvard's Joint Center for Housing Studies.Read more: https://www.cnbc.com/video/2019/10/21/harvard-remodeling-market-may-stall-in-2020.html

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Homeowners adding extra homes on their property, here's how it works

21-10-2019

Homeowners are looking for new streams of revenue in their own backyard. CNBC's Diana Olick reports on the auxiliary dwelling units (ADU) trend.Read more: https://www.cnbc.com/video/2019/10/21/homeowners-adding-extra-homes-on-their-property-heres-how-it-works.html

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Traders now see Fed cut next week as a near-certainty

21-10-2019

Futures traders now see a rate cut as the near-certain outcome of next week’s Federal Reserve meeting as a stagnant manufacturing sector weighs on the economy. CME’s FedWatch tool on Monday showed a 91% chance of a 25 basis point cut at the October 29 and 30 meeting of the Federal...

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Will Supreme Court decision threaten CFPB independence?

21-10-2019

On Friday, the Supreme Court agreed to hear the case to determine the constitutionality of the leadership of the Consumer Financial Protection Bureau – a move that has provoked a variety of responses. As it stands now, President Donald Trump cannot fire the CFPB director unless it’s for cause. The previous...

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Backyard bungalows are becoming big business for homeowners and builders

21-10-2019

They're not just she-sheds or he-sheds or granny pods or tiny homes. The latest housing trend in the backyard is now front and center for a new breed of homebuilder and landlord.Read more: https://www.cnbc.com/2019/10/21/backyard-bungalows-are-becoming-big-business.html

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Brokerage Compass starts offering an easier, less expensive way to get a…

21-10-2019

One of the fastest growing real estate brokerages in the U.S. is announcing a new service designed to make it easier for current homeowners to buy another home.Read more: https://www.cnbc.com/2019/10/21/brokerage-compass-offers-easier-less-expensive-way-to-get-bridge-loan.html

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Embrace Home Loans names new senior vice president, retail and direct sales

18-10-2019

Embrace Home Loans, a Rhode Island-based mortgage lender, announced this week that longtime employee Ryan “Buddy” Hardiman is being promoted to senior vice president of retail and direct sales.  Hardiman has been with the company for more than a decade. He began his career at Embrace in 2008 as a project...

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Wells Fargo settles allegations of discriminating against female, African American job applicants

18-10-2019

A federal investigation found that Wells Fargo discriminated against thousands of African American and female job applicants based on their race and/or gender, the Department of Labor said this week. The Labor Department announced this week that it reached a settlement with Wells Fargo over allegations of discrimination within bank’s hiring practices at...

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Mortgage Tech Rundown: DocMagic, Loan Vision, and ZestFinance

18-10-2019

Mortgage Tech Rundown looks at the latest news in mortgage technology, featuring new product updates, integrations and announcements. DocMagic, a provider of eMortgage services, launched a new mobile application that aims to provide borrowers with a transparent way to stay fully engaged with their loans — and lenders — throughout the mortgage cycle. The application...

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Supreme court to take on CFPB constitutionality case

18-10-2019

The Supreme Court announced Friday it will take on the case challenging the constitutionality of the Consumer Financial Protection Bureau’s leadership. Back in 2017, a battle between the CFPB and PHH began, starting with a $103 million increase to a $6 million fine initially levied against PHH for allegedly illegally referring consumers to mortgage insurers in exchange for...

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Here’s how climate change could also change home values

18-10-2019

Poorer communities in the U.S. are more likely to face falling home values as they struggle to adjust to floods and rising insurance costs, according to an article from Bloomberg. The Bloomberg article cited analysis from the San Francisco Reserve, which showed that nearly 40% of 175 communities that may...

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FHFA may use consent decrees to reduce GSE “election risk”

18-10-2019

The Trump administration has laid out more than two dozen unilateral actions it wants to take to put Fannie Mae and Freddie Mac firmer ground and release them from government conservatorship. But, there’s a little thing called “election risk.” If President Donald Trump isn’t re-elected, or if the ongoing impeachment inquiry...

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