Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a pre-tax net loss of $534 on each loan they originated in the second quarter, according to data from the Mortgage Bankers Association (MBA). The second quarter results marked an...
The Consumer Financial Protection Bureau (CFPB) has levied a $1.75 million fine against Freedom Mortgage Corp., accusing the Boca Raton, Florida-based lender of providing illegal incentives to real estate brokers and agents in exchange for mortgage loan referrals. The...
The U.S. Small Business Administration (SBA) announced the agency’s first disaster declarations leveraging the Rural Communities Act, which will enable businesses and residents affected by recent disasters in Alabama, Nevada, and California to become eligible for...
Better HoldCo Inc., the parent company of Better Mortgage, is merging with Aurora Acquisition Corp. (NASDAQ: AURC, AURCU, AURCW), a publicly traded special purpose acquisition company (SPAC). The company had first announced the plan to merge with Aurora in May 2021,...
A coalition of 18 national trade associations representing the stakeholders in the housing industry sent a letter to Federal Housing Finance Agency (FHFA) Director Sandra Thompson warning that mandatory rent control and rent stabilization policies will increase rents,...
Florida Gov. Ron DeSantis’ affordable housing director has been suspended from his job less than six months after he was hired. According to combined media reports, Michael DiNapoli, executive director of the Florida Housing Finance Corp., was placed on administrative...
Zillow CEO, Directors Sued Over Redfin Deal and $81M in Stock Sales
