Credit bureau TransUnion disclosed Wednesday that a July cyberattack compromised the personal data of more than 4.4 million consumers, according to a filing with the Office of the Maine Attorney General. In a letter to affected customers, the company stressed that the breach did not involve its core systems or credit files. Instead, hackers gained […]
TransUnion discloses cyberattack impacting 4.4M consumers Read More »
Homeownership has long been seen as a marker of stability and success. But for many in Generation Z — the youngest group entering the housing market — that dream feels increasingly out of reach. Rising mortgage rates, high home prices, student debt and career uncertainty are reshaping what housing looks like for this generation —
Gen Z offers its thoughts on the renter vs. homeowner debate Read More »
After its ride on the meme stock rollercoaster and the resignation of its CEO, Opendoor has indicated it is ready to start a new chapter, one that will ideally bring it back to profitability, but activist retail investors are asking that they get a say in the firm’s next moves. Opendoor’s eventful summer began in
Is Opendoor the next meme stock revival story or fool’s gold? Read More »
Buyers are pulling out of purchase contracts at an alarming rate — reaching an eight-year high in July. HousingWire spoke to several lenders about how they are tackling the problem on the front end to prevent contracts from going south. Experts say the surge in collapsed deals stems from soaring home prices, steep borrowing costs
What mortgage lenders are doing to limit contract cancellations Read More »
It was a very slow and steady week for mortgage rates. On all 5 days, the average top tier 30yr fixed rate moved by 0.02% or less. This is a small enough change that the average borrower wouldn’t see any detectable difference in a loan quote from one day to the next. But due to
Rates End Week at Best Levels; Next Week Could be Huge Read More »
US Treasuries retained most of their recent gains as anticipation of Federal Reserve interest rate cuts held firm after the central bank’s preferred gauge of inflation matched economist estimates. Yields were mixed across tenors following Friday’s release of July personal income and spending data, with short maturities little changed after falling from session highs while longer-dated
Treasuries hold recent gains as inflation gauge stabilizes Read More »
One aspect of a law that takes effect in Connecticut on Oct. 1 was designed to improve the surety bond cancellation process by fully automating it, but making that possible will involve a procedural change that servicers who are also lenders in the state will need to understand. “The bill generally requires surety companies to
What lender-servicers should know about a new state process Read More »
Wholesale lender AD Mortgage has launched a borrower-facing portal in order to improve the experience of their broker’s clients, the company said. AD Home gives consumers “a smoother, faster and more intuitive way to manage their loans,” the company’s announcement said. AD is known as a non-qualified mortgage lender, but it also offers conventional and
Wholesaler AD Mortgage launches borrower portal Read More »
Change Lending is seeking over $1 million in damages from a mortgage banker it says violated a servicing purchase agreement. The plaintiff firm, a large player in a government-sponsored lending program, is suing Village Capital & Investment over transactions involving government-backed loans. Village allegedly owes Change a combined $1.3 million in part for failing to
Change Co. sues servicer over multiple nonpayments Read More »
The battle between Federal Reserve Board Governor Lisa Cook and the Trump Administration over mortgage fraud allegations and their implications intensified this week. Cook filed a temporary restraining order and issued court summons to several high profile officials in a lawsuit filed to block attempts to fire her over alleged misrepresentation, and housing regulator Bill
Pulte posts new criminal referral as Cook escalates lawsuit Read More »