Lawsuit accuses Urban Compass of stealing trade secrets

Lawsuit accuses Urban Compass of stealing trade secrets

New York City-based Urban Compass, a 1-year-old broker that was valued at $360 million in a recent funding round, is being sued for the second time in two months, The Real Deal reports. Rival Citi Habitats claims individuals at Urban Compass’ ...
Wednesday, August 13, 2014
Buyer offers $1.6M in bitcoin for Lake Tahoe home site, seller says ‘yes’

Buyer offers $1.6M in bitcoin for Lake Tahoe home site, seller says ‘yes’

In what could be a new record for a real estate transaction involving bitcoin, an unnamed Silicon Valley entrepreneur has paid the equivalent of $1.6 million for a 1.4-acre home site in Truckee, California. While sellers sometimes offer to accept .....
Tuesday, August 12, 2014
Amerisave paying $19.3M to settle ‘bait-and-switch’ mortgage allegations

Amerisave paying $19.3M to settle ‘bait-and-switch’ mortgage allegations

Atlanta-based online mortgage lender Amerisave Mortgage Corp. and its affiliate, Novo Appraisal Management Co., have agreed to refund $14.8 million to consumers and pay a $4.5 million penalty to settle allegations by the Consumer Financial Protection...
Tuesday, August 12, 2014
2 accused of carjacking real estate agent face murder charges in deaths of 4 pedestrians

2 accused of carjacking real estate agent face murder charges in deaths of 4 pedestrians

Two men who allegedly carjacked a 45-year-old real estate agent at gunpoint in North Philadelphia, took turns sexually assaulting her in the backseat, and then ran over five pedestrians when the car’s tire blew, killing four, have been charged ...
Monday, August 11, 2014
FHA chief leaving to run housing policy group

FHA chief leaving to run housing policy group

Federal Housing Administration Commissioner Carol Galante will step down after less than two years on the job to become a professor at the University of California, Berkeley, and head up a housing policy group there, Bloomberg News reports. HUD’...
Monday, August 11, 2014
FICO credit scores to give less weight to unpaid medical bills

FICO credit scores to give less weight to unpaid medical bills

In a move that could be a boon to first-time homebuyers, Fair Isaac Corp. has said it will make changes in the way FICO credit scores are calculated. FICO scores are used by the vast majority of lenders. Starting this fall, ......
Monday, August 11, 2014
Location, location, location: Malibu mobile home on the market for $3.75M

Location, location, location: Malibu mobile home on the market for $3.75M

Properties in the Malibu, California, mobile home park Paradise Cove — including a trailer that Matthew McConaughey used to call home — “routinely sell” for more than $1 million. A four-bedroom manufactured home in Paradise Pa...
Monday, August 11, 2014
Barron’s likens Zillow, Trulia valuations to dot-com boom realtor.com

Barron’s likens Zillow, Trulia valuations to dot-com boom realtor.com

During the dot-com boom, shares in the company that operates realtor.com were trading for more than $550 after adjusting for a reverse split, Barron’s notes in an article that’s deeply skeptical of Zillow and Trulia’s current valuat...
Monday, August 11, 2014
Fannie and Freddie REO inventory down 45 percent from peak

Fannie and Freddie REO inventory down 45 percent from peak

The number of homes repossessed by mortgage giants Fannie Mae and Freddie Mac and destined to hit the market in the months ahead has fallen by 45 percent from a 2010 peak of more than 241,000 homes. Source: calculatedriskblog.com. At ......
Friday, August 8, 2014
New app rates ‘sketchiness’ of neighborhoods

New app rates ‘sketchiness’ of neighborhoods

An app that’s out to help people steer clear of “sketchy” areas is sparking dismay from critics including ValleyWag’s Sam Biddle, who dismisses the effort as “Smiling young white people make app for avoiding black neighb...
Friday, August 8, 2014
Why Trulia and Zillow won’t become a single search portal

Why Trulia and Zillow won’t become a single search portal

If it closes next year as planned, Zillow’s acquisition of Trulia will give the company more audience, and scale, CEO Spencer Rascoff tells Bloomberg Television’s Trish Regan. “As a media property, we want to have more audience,R...
Friday, August 8, 2014
Bankruptcy, foreclosure may prevent broker from leading Florida Realtors

Bankruptcy, foreclosure may prevent broker from leading Florida Realtors

A Broward County broker who was on a path to become the president of Florida’s statewide Realtor association several years from now may end up being derailed by a bankruptcy filing, the Tampa Bay Times reports. The 2013 bankruptcy filing ......
Thursday, August 7, 2014
Study finds incorporating rental history could boost credit scores

Study finds incorporating rental history could boost credit scores

Many borrowers could benefit if lenders took rental history into account when deciding who would make a good candidate for a mortgage or other loans, according to a study from credit bureau Experian. The study focused on nearly 20,000 people in ......
Thursday, August 7, 2014
Applications for real estate licenses surge as housing markets turn

Applications for real estate licenses surge as housing markets turn

As housing markets improve, more people are considering a career in real estate. In 2013, the number of applications for real estate licenses almost doubled in Florida, to 40,901 from 23,863 in 2010, the Associated Press reports. In California, th...
Thursday, August 7, 2014
Zillow CEO: Keep buying ad impressions, we’ll make more

Zillow CEO: Keep buying ad impressions, we’ll make more

Mad Money’s Jim Cramer says he’s worried that Zillow has signed up a lot of agents — could the portal run out of ad inventory? Zillow CEO Spencer Rascoff says the site’s got close to 57,000 paying subscribers (that’s a ...
Wednesday, August 6, 2014
Jumbo mortgages are cheap because banks want to sell other stuff to wealthy borrowers

Jumbo mortgages are cheap because banks want to sell other stuff to wealthy borrowers

If you’ve got great credit, rates on jumbo mortgages are now slightly less than for conforming loans eligible for purchase by Fannie Mae and Freddie Mac. That’s because banks are competing for wealthy consumers because they can sell them ...
Friday, August 1, 2014
Antitrust issues could still kill Zillow-Trulia merger

Antitrust issues could still kill Zillow-Trulia merger

Even if antitrust regulators don’t stand in the way of a merger of real estate search giants Zillow and Trulia, they might impose conditions that would give Zillow cold feet about closing the deal, DealBook reports. Zillow and Trulia have ......
Friday, August 1, 2014
Barbara Corcoran: Zillow and Trulia are like Boardwalk and Park Place with hotels

Barbara Corcoran: Zillow and Trulia are like Boardwalk and Park Place with hotels

With their ability to “control 60 percent of eyeballs,” Zillow and Trulia “are kind of like Boardwalk and Park Place with a big hotel on each,” Barbara Corcoran tells Stephanie Ruhle and Erik Schatzker, the hosts of Bloomberg ...
Friday, August 1, 2014