Redlining settlement wouldn't resolve 1st Amendment questions
The CFPB claimed statements made by hosts of Townstone Financial's AM radio call-in show and podcasts discouraged Black Chicago residents from applying for a mortgage
by Matt Carter Oct 25
California is 2nd state to revoke LoanSnap's license this month
Costa Mesa, California-based provider of debt consolidation loans saw most of its business dry up last year and was evicted from its headquarters in May
by Matt Carter Oct 22
Rocket Mortgage, Solidifi among defendants in appraisal bias suit
Department of Justice alleges appraisal that erased $220K from Denver duplex's value discriminated against Black owner and thwarted her attempt to refinance at lower rates
by Matt Carter Oct 22
Fairway blasts federal regulators in $10M redlining settlement
Nation's third biggest lender casts itself as a victim of politics, noting Consumer Financial Protection Bureau launched its investigation the day after Biden Administration took office
by Matt Carter Oct 16
Trump, Harris housing policies emerging from the rhetoric
Housing policy has gotten short shrift in the debates, with a tight focus on immigration and inflation. But the candidates' platforms — and Project 2025 — provide more details
by Matt Carter Oct 16
LoanSnap's business dried up. Now regulators are after its licenses
Connecticut has entered into a consent decree revoking the fintech mortgage lender's license, and LoanSnap has been put on notice by California regulators that they intend to do the same
by Matt Carter Oct 11
DOJ's 14th redlining settlement is its first with a credit union
Citadel Federal Credit Union 'respectfully disagrees' with allegations, agrees to invest $6.5M and open 3 new branches in predominantly Black and Hispanic neighborhoods in Philadelphia
by Matt Carter Oct 11
Real estate is still processing Aug. 17 and Clear Cooperation
At Inman Connect Austin on Wednesday, Rachel Hocevar of Compass and Romeo Manzanilla of @properties Christie's International Real Estate discussed the implications of industry shakeups
NextHome CEO James Dwiggins takes on Clear Cooperation critics
In a LinkedIn post Tuesday, Dwiggins claimed brokerage leaders fighting to repeal the pocket listing rule are concealing an agenda to hoard listings, recruit agents and generate internal leads
Synergy One acquiring national lender Mann Mortgage
Kalispell, Montana-based Mann Mortgage, which operated branches in states throughout the West and Southeast, had previously tangled with regulators in Idaho and Washington
by Matt Carter Oct 1
OceanFirst Bank settles DOJ redlining allegations for $15M
Since launching an initiative to combat redlining in 2021, prosecutors at the Department of Justice have reached settlements with 13 mortgage lenders totaling more than $137M
by Matt Carter Sep 18
UWM and Rate join the $802K conforming loan limit party
With prices rising, it's becoming standard operating procedure for big lenders like Rocket to help homebuyers avoid jumbo loan pricing by getting a jump on FHFA's official announcement
by Matt Carter Sep 18
Trump allies formulating plans to privatize Fannie and Freddie
A new 'Wall Street Journal' report reveals that talks about privatization have been taking place since the spring and have included Trump confidants Larry Kudlow and John McEntee
by Jim Dalrymple II Sep 13
Mortgage industry vet Diana Reid is first woman to lead Freddie Mac
With former JP Morgan Chase Director Priscilla Almodovar serving as Fannie Mae's CEO since 2022, both mortgage giants are now led by women for the first time in history
by Matt Carter Sep 10
City National revamps mortgage after redlining settlement
Royal Bank of Canada subsidiary now offering grants of up to $50K in minority census tracts in the metro LA market as part of larger initiative to boost lending in underserved communities
by Matt Carter Sep 5
NAR to fight DOJ investigation all the way to the Supreme Court
The case dates back to a 2020 settlement between NAR and the DOJ, and to the DOJ's 2021 attempt to withdraw from that settlement — something NAR is trying to block
by Jim Dalrymple II Aug 30