Pending home sales stagnate in November despite rate relief
November's numbers show pending sales didn't move compared to October, but lower rates did apparently lead to more lockbox openings — hinting that better days lie ahead
by Jim Dalrymple II Dec 28
Mortgage rates are in free fall as economy continues to cool
While Federal Reserve policymakers had forecast 3 rate cuts next year, futures markets see an 85% chance of at least 6 rate cuts after a key inflation metric shows the economy is cooling rapidly
by Matt Carter Dec 27
MyHome expands menu of lender services with Volly acquisition
Volly's customer relationship management, lead conversion and portfolio retention tools will be offered to lenders through parent company WFG's Enterprise Solutions division
by Matt Carter Dec 26
Title insurer First American and many subsidiaries remain offline
The Dec. 20 cybersecurity incident has derailed closings and generated complaints about the lack of communication since the company took some systems offline
by Matt Carter Dec 26
LoanCare says data breach affected 1.3M mortgage customers
Parent company Fidelity National Financial has not said whether its other subsidiaries were also affected in a cybersecurity incident the company says it discovered and contained in November
by Matt Carter Dec 26
First American Financial warns clients to watch out for fake emails
Two days after being hit by a cyberattack, the title insurance giant says it's still trying to restore operations, warns clients that it's taken its email system offline and to be wary of messages
by Matt Carter Dec 22
Loan subservicer Dovenmuehle Mortgage laying off 212 workers
Illinois-based Dovenmuehle, which collects monthly payments from homeowners in all 50 states on behalf of lenders and investors, is trimming staff at Lake Zurich HQ but not closing down
by Matt Carter Dec 22
Developer accused of marketing in Spanish, closing in English
Colony Ridge, the developer of more than 40,000 lots northeast of Houston, says its clients have no opportunity to get a loan from anyone else and dismisses federal lawsuit as baseless
by Matt Carter Dec 22
Title insurer First American Financial is hackers' latest target
The nation's 2nd biggest title insurer issues terse statement saying it's taken some systems offline. Ransomware group Blackcat has infiltrated more than 1,000 computer networks
by Matt Carter Dec 21
Ocrolus grows clientele with new capabilities and document types
AI document automation platform signs 100 new customers in 2023 and now supports more than 1,150 types of documents to serve a growing number of use cases, including mortgage
by Matt Carter Dec 20
Lower mortgage rates failed to spur homebuyers into action last week
Demand for purchase loans has picked up in 5 of the last 7 weeks as mortgage rates continue a dramatic retreat from October highs on expectations of Fed rate cuts
by Matt Carter Dec 20
How was your year? Take the Inman Intel Index survey: December 2023
The Inman Intel Index goes beyond sentiment and trends by tapping into the real estate industry's most engaged community. Add your voice to the industry's most ambitious monthly survey today
by Chris LeBarton Dec 20
Personal info of nearly 15M people exposed in Mr. Cooper data breach
Personal information in exposed files included names, addresses, phone numbers, Social Security numbers, dates of birth and bank account numbers, Mr. Cooper tells regulators
by Matt Carter Dec 19
Flyhomes announces 3rd round of layoffs since 2022
The Seattle-based brokerage and mortgage lender announced another round of layoffs on Friday. Flyhomes had layoffs in July and November 2022, with one round impacting 20% of its workforce
by Marian McPherson Dec 19
Fannie Mae, MBA economists still expect mild 2024 recession
The good news for real estate pros is that closely watched forecasts agree home sales will bottom in Q4 2023, and mortgage rates are looking ready to come down significantly next year
by Matt Carter Dec 19
Mr. Cooper: Hackers got personal info on past and present customers
The loan servicing giant faces multiple lawsuits over recent cybersecurity breach and will provide 2 years of identity protection services and credit monitoring to all current and former customers
by Matt Carter Dec 15