Almost two-thirds of Americans say they worry more about running out of money in retirement than about dying — and for many, that fear may become a reality. According to a survey from retirement technology firm IRALogix, about half of America’s retirees don’t take any systematic approach to withdrawing their many billions of dollars in […]
Most Americans retire without a savings withdrawal plan Read More »
Two Oakland County, Michigan, title insurance agents have had their licenses suspended following allegations of misappropriating millions in escrow funds. The agents are also accused of failing to cooperate with auditors and a state investigation — as well as contributing to at least one homeowner’s foreclosure, according to a local news report. The Michigan Department
Michigan title agents suspended over escrow allegations Read More »
A bipartisan bill introduced last week in the U.S. House of Representatives seeks to address the nation’s housing shortage by expanding financing options for accessory dwelling units (ADUs). Reps. Sam Liccardo (D-Calif.) and Andrew Garbarino (R-N.Y.) unveiled H.R. 4568 — the Supporting Upgraded Property Projects and Lending for Yards (SUPPLY) Act. The proposed legislation would
Bipartisan legislation aims to expand ADU financing Read More »
Seattle-based HomeStreet Bank has agreed to sell its $794 million Ginnie Mae loan servicing portfolio to an undisclosed “experienced” buyer, the company announced in a regulatory filing. The transaction is scheduled to close on August 1. “As HomeStreet carried this servicing portfolio at current market value at June 30, 2025, no gain or loss is
HomeStreet to sell $794M in Ginnie Mae MSRs Read More »
A new lender says it can give a company’s employees up to 75 basis points off their interest rate through its mortgage benefits program. Multiply Mortgage, founded in 2022, says the average worker utilizing its perks saves up to $5,700 per year, relative to home loan offers they were comparing the offer to. The broker
New lender touts big mortgage perks for workers Read More »
Last week, we got a sneak preview of how the market would react to Fed Chair Powell ending his term early. In a nutshell, only the shortest-term rates would improve while most consumer rates would move higher–including mortgages. This isn’t conjecture, but rather the actual response in the bond market (bonds dictate interest rates). Thankfully,
Mortgage Rates Inch Down to 2-Week Lows Read More »
Pennymac enjoyed a more productive second quarter, although it suffered a financial hit from hedging results over early spring rate volatility. The Southern California-based mortgage giant reported $136.5 million in net income for the second quarter, missing a Standard & Poor’s Capital IQ consensus estimate of $152 million. The net income figure however was up
Pennymac profit jumps 79% despite hedge losses Read More »
Douglas Elliman, the nation’s sixth-largest real estate brokerage, is the latest firm to unite home sales and financing under one roof. The company has entered into a “strategic alliance” with Associated Mortgage Bankers, Ronkonkoma, New York, to create Elliman Capital. “By bringing mortgage services in-house, we’re creating an unprecedented level of convenience and oversight to
Douglas Elliman forms mortgage venture with AMB Read More »
Sam Altman, chief executive officer of OpenAI Inc.Bloomberg News WASHINGTON — The CEO of OpenAI warned a room full of bankers and policymakers of an “impending fraud crisis” spurred by artificial intelligence’s growing capability to get around fraud prevention measures. Speaking at a conference hosted by the Federal Reserve Board Tuesday, Sam Altman, head of
Open AI CEO Altman warns of ‘impending fraud crisis’ Read More »
Rithm Capital’s investor lending operations will get a financial boost thanks to a new partnership to help fund the purchase of over $1 billion worth of loans. The New York-based real estate investment trust announced it had reached an agreement with an unnamed “large institutional investor” to fund the acquisition of up to $500 million
Rithm Capital inks $1.5B deal for investor loans Read More »