Gen X has regrets about retirement savings, study suggests

Members of Generation X are more concerned about their post-retirement ability to support the lifestyles they’ve grown accustomed to when compared with other generations — including baby boomers and millennials — according to the results of a recent survey conducted by Allianz Life. In the … Continue readingGen X has regrets about retirement savings, study suggests

MBA to HUD: Publish notices about challenges with real estate inspection protocols

The Mortgage Bankers Association (MBA) on Tuesday announced its submission of a letter to the U.S. Department of Housing and Urban Development (HUD), which urges the department to avoid reprimanding mortgage servicers for compliance lapses with the new National Standards for the Physical Inspection of … Continue readingMBA to HUD: Publish notices about challenges with real estate inspection protocols

FHA seeks mortgage defect taxonomy changes for cases of TPO fraud, misrepresentation

The Federal Housing Administration (FHA) this week announced a proposed Mortgagee Letter (ML) that would add fraud and misrepresentation to its defect taxonomy list for Title II FHA-sponsored mortgage financing. The defect taxonomy includes a list of attributes that FHA can use to identify potential … Continue readingFHA seeks mortgage defect taxonomy changes for cases of TPO fraud, misrepresentation

CFPB proposes $3.95M fine for Freedom Mortgage over false data accusations

The Consumer Financial Protection Bureau (CFPB) has proposed that lender and servicer Freedom Mortgage Corp. pay $3.95 million for alleged violations of a 2019 consent order and the Home Mortgage Disclosure Act (HMDA) when it submitted incorrect mortgage data. The proposed order was filed on … Continue readingCFPB proposes $3.95M fine for Freedom Mortgage over false data accusations

Home price growth slows to lowest level since January 2023: Redfin

U.S. home prices are growing at their slowest pace in nearly a year and a half, according to Redfin‘s home price index that was published on Tuesday. Home prices rose 0.26% month over month in May, down from a monthly increase of 0.44% in April. … Continue readingHome price growth slows to lowest level since January 2023: Redfin

Single-family rent growth tapers off: CoreLogic

U.S. single-family rental (SFR) homes posted rent price growth of 3% during the year ending in April 2024, according to CoreLogic data released Tuesday. That was down from an annualized gain of 3.4% in March. The California-based real estate analytics company reported that the annualized … Continue readingSingle-family rent growth tapers off: CoreLogic

CFPB takes enforcement action against former HECM servicing contractor

The Consumer Financial Protection Bureau (CFPB) on Tuesday announced a series of enforcement actions against two companies for what the bureau called “illegal activities that harmed older homeowners and caused them to fear losing their homes.” The actions were taken against Pittsford, New York-based Sutherland … Continue readingCFPB takes enforcement action against former HECM servicing contractor

First-time homebuyers: From 2023 challenges to 2024 realities

Given a backdrop of escalating mortgage rates and soaring home prices, the prospect for first-time homebuyers (FTBs) in 2023 was daunting. The average FTB faced a significant financial burden, with monthly principal and interest (P&I) payments more than doubling ($2,110 vs $980) since 2013. To … Continue readingFirst-time homebuyers: From 2023 challenges to 2024 realities

CoStar Group hires Freddie Mac’s Christian Lown as CFO

Freddie Mac‘s chief financial officer, Christian Lown, will transition to the same position at CoStar Group on July 1, the company announced on Tuesday.  Lown informed Freddie Mac of his resignation on June 5 after four years working for the enterprise. His exit will take … Continue readingCoStar Group hires Freddie Mac’s Christian Lown as CFO

‘Million Dollar Listing’ agents launch online marketplace for sellers and agents

Redy, an online marketplace that rewards home sellers for selecting a real estate agent who best aligns with their sales goals, announced its launch in five markets on Tuesday. The Redy online platform is now available to home sellers in Atlanta, Dallas, Orlando, Phoenix and … Continue reading‘Million Dollar Listing’ agents launch online marketplace for sellers and agents