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Updated: 22 min 44 sec ago
Zillow Group announced that it plans to sell Market Leader, a customer relationship management system for the real estate industry, to the Perseus Division of Constellation Software, an international provider of software and services. When Trulia bought Market Leader, the purchase price was reported to be as high as $355 million. Zillow announced Thursday that it is selling Market Leader for $23 million.
Fannie Mae announced that it is increasing the maximum number of allowable days for “routine” foreclosure proceedings for much of the country. Click here to see where Fannie Mae just changed the foreclosure timelines.
The Community Home Lenders Association shows in a side-by-side chart comparison the growing divergence in both consumer and financial regulations that non-bank lenders and banks face. Guess who is getting the heavy end of the regulation stick?
eMortgage Logic, a provider of residential real property valuations, data and analytics, received a residential vendor ranking from Morningstar Credit Ratings. According to a release from Morningstar, the ratings agency assigned a ‘MOR RV1’ residential vendor ranking to eMortgage Logic as a residential vendor in the asset valuation market.
More parents are helping their kids buy a home, but there is one catch for the parents: They probably won’t see that money ever again. After surveying parents and Millennials, loanDepot put together this infographic on what the financial arrangements are between parents and their kids.
The owner of a New Jersey title firm pled guilty to stealing funds that were supposed to be used to pay off mortgages.
Wells Fargo appointed Michael DeVito as the new head of mortgage production, where he will lead the retail and correspondent teams. DeVito brings more than 26 years of experience in the financial services industry to the position, including the last 19 years at Wells Fargo.
Blackstone is increasing its already substantial position in housing again, as funds affiliated with Blackstone Tactical Opportunities are set to acquire a “significant equity stake” in The PMI Group, a provider of mortgage insurance. PMI said that in connection with the purchase of a significant equity stake in PMI, Blackstone will provide PMI with a loan to be used for working capital.
Industry sources close to the company said loanDepot is getting ready to file an initial public offering after making significant strides in the industry this year in an attempt to become the No. 1 nonbank consumer lender. Read on to learn about their latest move.
In a scathing essay in National Review, two Yale legal/business scholars issue a pretty damning indictment of the patina of legality smeared atop the taking of shareholder profits from Fannie and Freddie. Plus, homeownership hits a half-century low while apps grow. Here's everything that's happening.
Mortgage credit availability increased in August and has increased in eight of the last nine months, mainly on jumbo loan products but also on conforming conventional mortgage loans. Here's the scorecard.
All the early indicators point to a weak August jobs report. Given the state of concerns over employment and the broader economy, including home sales, talk is going to move to a December rather than September rate hike by the Federal Open Market Committee. Read on.
With California wildfires still burning and the reminder of the 10th anniversary of Hurricane Katrina here, the risk of natural disaster is on the minds of the folks at RealtyTrac. Here's what they found look at the cost and risk for housing markets. Read on.
ACES Risk Management, a web-based financial services quality control software provider, announced the release of TRIDCompare, a data comparison tool specifically designed for the new TILA-RESPA Integrated Disclosure forms.
Green Tree Servicing is gone. Last month, HousingWire reported that Green Tree’s days were numbered, after Green Tree’s parent company, Walter Investment, announced quietly that it planned to merge Green Tree with another of Walter Investment’s well-known subsidiaries, Ditech Mortgage Corp, to form a new company, ditech, a Walter company. Now the merger is complete.
In a recent educational web seminar hosted by HousingWire, two industry experts discussed the legal requirements businesses need to know and best practices around satisfying requirements when moving to e-disclosure delivery of mortgage disclosures.
The bank executive at the center of one of the largest bank failures in recent years will spend the next 8 years in prison for his part in a scheme that cost the American taxpayers more than $300 million. Here's the tale of Ebrahim Shabudin and United Commercial Bank.
A U.S. appeals court revived three lawsuits filed by the City of Miami against Wells Fargo, Bank of America and Citigroup, alleging predatory mortgage lending practices against minority borrowers.
Reports from the twelve Federal Reserve Districts indicate economic activity continued expanding across most regions and sectors during the reporting period from July to mid-August, and residential real estate was solid. Read on.
The mortgage finance industry is still not happy with the Consumer Financial Protection Bureau and its consumer complaint narrative database, which publishes unvetted and unverified anonymous complaints against specific companies. Want to know more? Of course you do.