Patriot Bank to pay $1.9M to settle DOJ’s redlining accusations
Tennessee-based community bank Patriot Bank agreed to pay $1.9 million to resolve allegations from the Department of Justice (DOJ) that it engaged in redlining discriminatory practices.
The...
loanDepot begins bringing more systems back online after cyberattack
Nonbank mortgage lender and servicer loanDepot has started to restore functionality to some of its technology systems impacted by an early January cyberattack. However, its operations...
Mortgage rates, inventory and demand rise as price cuts fall
Weekly housing inventory data
Here is a look at the first week of the year:
Weekly inventory change (Jan. 12-19): Inventory rose from 505,223 to 506,414
Same week last...
Current housing inventory insufficient for aging needs, report says
Despite a documented preference that older Americans have to age in place, the current housing inventory is inadequate to support the needs of an aging population....
Country Club Mortgage to lay off employees, including CEO, and shutter offices
Country Club Mortgage, a home lender based in California, has decided to lay off over 100 employees due to “facility closures,” documents sent to state regulators show.
“This letter serves...
MBA, NHC laud lawmakers for unveiling bipartisan tax agreement
Just ahead of a deadline to avert a partial U.S. government shutdown, lawmakers in the U.S. House of Representatives and the U.S. Senate unveiled the “Tax...
Fannie Mae optimistic that mortgage rates will dip below 6% by year-end
Fannie Mae has a rosy outlook for mortgage rates. The government sponsored enterprise is projecting that rates will drop below 6% by the end of 2024,...
Qualia accuses title startup Settlor of stealing trade secrets
Closing software provider Qualia is accusing a former employee and startup title production software firm Settlor of stealing trade secrets.
In a lawsuit filed on Tuesday in...
Japanese builder Sekisui House to acquire MDC for $4.9B
Japanese homebuilder Sekisui House, Ltd. has struck a deal to acquire its U.S.-based peer M.D.C. Holdings, Inc. in an all-cash transaction that values the target at $4.9 billion, the companies...
California commission suit alleges collusion in the City of Angels
Lights, camera, lawsuit! A copycat commission lawsuit has been filed in Los Angeles.
The suit, known as Fierro, after its lead plaintiff Gael Fierro, a Californian home...