December 24, 2024
The states with the cheapest 30-year new purchase mortgage rates Friday were New York, Florida, California, Tennessee, Texas, Washington, Georgia, North Carolina, and Oregon. The nine states registered averages between 6.75% and 6.89%. Meanwhile, the states with the highest Friday… Continue Reading…
Eli Puretz wants others to avoid the mistake he made. Puretz, a 29-year old real estate investor, is facing a sentence of five years in prison for his role in a multi-million-dollar commercial mortgage fraud. Puretz pleaded guilty to one… Continue Reading…
The MBA’s Dec. 20 forecast made no change in its forecast for mortgage interest rates, but it again sharply lowered estimates for refinances – with the changes this time confined to the first half of 2025. The MBA lowered its… Continue Reading…
December 23, 2024
A federal watchdog claims that a subsidiary of Detroit-based Rocket Companies violated consumer protection laws by giving kickbacks to real estate agents to illegally steer prospective homebuyers to Rocket Mortgage and a related title company. The Consumer Financial Protection Bureau… Continue Reading…
The trigger leads bill has become a 2025 priority for the mortgage industry after failing to pass the House of Representatives last week, despite Senate approval. Mortgage trade groups, however, remain optimistic about the bill’s prospects in the 119th Congress.… Continue Reading…
In a case involving phony documents and unpaid taxes, a prominent Washington, D.C.-based accountant pleaded guilty last week for making false statements on a mortgage application after failing to file IRS returns. A certified public accountant with expertise on tax… Continue Reading…
(Reuters) -The top U.S. watchdog agency for consumer finance on Monday accused Rocket Homes, a unit of Rocket Companies, and The Jason Mitchell Group of real estate brokerages of an illegal kickback scheme to steer mortgage applications back to Rocket.… Continue Reading…
NEW YORK, Dec. 23, 2024 /PRNewswire/ — Northwind Group, a Manhattan-based real estate private equity firm and debt fund manager announced today that it has provided a $50.0 million loan secured by first mortgage on 40 Exchange Place, a 20-story office… Continue Reading…
A coalition of six organizations representing mortgage companies and borrowers has sent a letter to the Federal Housing Administration (FHA), urging the extension of the current loss-mitigation waterfall to February 2026 while updates to the agency’s servicing handbook are discussed… Continue Reading…
Mortgage delinquencies continued to rise in November, and are now at their highest levels in almost three years, according to ICE Mortgage Technology. While many of the new late payments are a result of borrowers hurt by Hurricanes Helene and… Continue Reading…