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Author name: Ricky Vasquez

Zillow, BHHS partner to provide listing tools to U.S. agents

Berkshire Hathaway, HomeServices of America, HWmember, Real Estate, Technology, Zillow /

Berkshire Hathaway HomeServices (BHHS) and Zillow are teaming up to bring BHHS’s agents Zillow’s AI-powered Showcase tools.  On Tuesday, Zillow announced that it had entered into an agreement with BHHS to provide the U.S.-based members of the BHHS network with access to Zillow’s Showcase. This agreement was preceded by an earlier product partnership with BHHS’s […]

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New American launches insurance marketplace

Homeowners insurance, Housing affordability, Industry News, LOAN PRODUCTS /

New American Funding announced the launch of an insurance affiliate, which will offer homeownership coverage, alongside a range of other protections. In a deal with insurance distribution firm The Baldwin Group, New American will sell primary property coverage in addition to products to guard homeowners against flood and wind damage. The affiliate, named NAF Insurance

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Chase formally reenters HELOC business after five years

Housing markets, MARKETING TO BORROWERS, Mortgage Rates, Originations /

Chase Home Lending has resumed offering home equity lines of credit after a five-year absence from the product, the company announced. While parent JPMorgan Chase has participated in HELOC securitizations, it did not originate or service the loans. In April 2020, just as the pandemic entered full swing, Chase paused taking new applications for HELOCs

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Lisa Cook

Cook firing takes the Fed into the unknown

Federal Reserve, Monetary policy, Politics and policy, Regulation and compliance, Trump administration /

Federal Reserve Gov. Lisa Cook.Bloomberg News President Donald Trump’s unprecedented move to fire Federal Reserve Gov. Lisa Cook Monday is likely to kick off a high-stakes legal battle over the exact contours of the central bank’s independence, and that battle will likely hinge on whether past actions can disqualify a board member from their current

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CFPB

CFPB to further curb its ability to supervise nonbanks

Nonbank, Politics and policy, Regulation and compliance /

Bloomberg News WASHINGTON — The Consumer Financial Protection Bureau is proposing a new rule that would limit its ability to oversee nonbanks, according to a notice published quietly in the Federal Register Tuesday.  The CFPB said it plans to adopt a new definition of “risks to consumers with regard to the offering or provision of

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Judge denies motion to dismiss case against HEI platform

Home equity loans, Industry News, Law and legal issues, LOAN PRODUCTS, Originations /

A Massachusetts judge denied a home equity investment platform’s request to dismiss a state lawsuit filed against it in a case that could provide clues to how products from such companies might ultimately be defined.  State Attorney General Andrea Joy Campbell originally sued HEI platform Hometap in February, putting forth multiple claims, including allegations that

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Mortgage-Treasury spread at narrowest point in three years

Economy, Housing markets, MARKETING TO BORROWERS, Mortgage Rates, Originations /

Mortgage spreads reached their narrowest point in three years on Aug. 22, but were still wider than their historic average, Redfin reported. The normal spread, which in this case measures the difference between the 30-year fixed rate mortgage and the 10-year Treasury yield, is in a range between 150 basis points and 200 basis points.

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Fed bank presidents face risk of removal on Trump’s maneuvers, Brainard says

Federal Reserve, FOMC, Lael Brainard /

(Bloomberg) — Former Federal Reserve Vice Chair Lael Brainard suggested there’s a real risk of multiple Fed district bank presidents getting removed from office next year as a result of politically charged maneuvering by President Donald Trump. Brainard, who served on the Fed board from 2014 to 2023, spoke a day after Trump moved to

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Knock closes $100M securitization, says it’s reached profitability

Home Equity, HWmember, Knock, LendingLife, Mortgage, Secondary market, Securitization /

Knock, a real estate technology company that helps homeowners to buy before they sell, on Tuesday announced the close of its inaugural $100 million securitization. Cantor Fitzgerald & Co. served as the initial purchaser and bookrunner for the transaction, which closed on Aug. 14 and generated strong demand from well-established institutional investors in residential mortgage-backed

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