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...Read more
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...Read more
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...Read more
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...Read more
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...Read more
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.htmlRead more
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.htmlRead more
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...Read more
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...Read more
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.htmlRead more
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.htmlRead more
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...Read more
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...Read more
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...Read more
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...Read more
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...Read more
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...Read more