Townstone wins order to dismiss CFPB’s redlining lawsuit 

A federal judge in Illinois ruled in favor of Townstone Financial Inc. and its owner, Barry Sturner, on a motion to dismiss with prejudice a redlining lawsuit filed by the Consumer Financial Protection Bureau (CFPB).  In July 2020, the CFPB filed a lawsuit accusing the … Continue readingTownstone wins order to dismiss CFPB’s redlining lawsuit 

Guaranteed Rate loan programs aim for lower rates for builders, borrowers 

Mortgage lender and digital financial services company Guaranteed Rate hopes to court builders and borrowers with its newly launched programs — Lock ‘N’ Sell rate lock program and forward commitments – by helping the borrowers secure lower mortgage rates. The rate lock program allows builders … Continue readingGuaranteed Rate loan programs aim for lower rates for builders, borrowers 

Altos Research housing market predictions for 2023

This article is part of our 2022 – 2023 Housing Market Update series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Housing Market Update. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look … Continue readingAltos Research housing market predictions for 2023

USAA Federal Savings Bank cuts 130 positions in real estate lending 

San Antonio, Texas-headquartered USAA eliminated 130 positions in the real estate lending group amid projections that the mortgage industry will shrink in 2023. The layoffs at USAA Federal Savings Bank represent about 1.6% of the total bank workforce, Bradley Russell, USAA’s corporate spokesperson, confirmed.  “In … Continue readingUSAA Federal Savings Bank cuts 130 positions in real estate lending 

Logan Mohtashami to speak at Gathering of Eagles 2023

Logan Mohtashami, lead analyst for HW Media, is taking the stage at Gathering of Eagles 2023 to give an update on the state of housing and the economy.  Mohtashami’s presentation is scheduled for Tuesday, June 20.  Mohtashami’s proprietary modeling is essential to any leader making … Continue readingLogan Mohtashami to speak at Gathering of Eagles 2023

January’s strong jobs report could spell trouble for the housing market

The labor market started off in 2023 with a bang, which could mean trouble for the housing market as the Federal Reserve continues to try and bring inflation under control this year. Total nonfarm payroll employment rose by 517,000 jobs from December to January, according … Continue readingJanuary’s strong jobs report could spell trouble for the housing market

Pennymac sticks to its strategy as the market continues to shrink

The California-based Pennymac Financial Services executives rightsized the company and invested in its servicing portfolio amid a shrinking market in 2022. Despite their efforts, profits still dropped to $475.5 million last year, down from $1 billion in 2021, the company reported on Thursday. In Q4 … Continue readingPennymac sticks to its strategy as the market continues to shrink

Apex Home Loans names Leo Anzoleaga as SVP of residential lending

Maryland-based mortgage lender Apex Home Loans has appointed Leo Anzoleaga as its senior vice president of residential lending. In his new role, Anzoleaga will be tasked with generating more residential mortgage business, fostering business partnerships and improving customer experience. “What I’m most excited about in … Continue readingApex Home Loans names Leo Anzoleaga as SVP of residential lending