Bloomberg, March 11, 2022–Reade PickertU.S. household net worth jumped to a fresh record in the fourth quarter on rising stock prices and higher home values, a Federal Reserve report showed …
Category: Top National News
New Ways To Build Take Center Stage
The Housing Scene (UExpress), Mar. 11, 2022–Lew SichelmanHouses made out of Lego blocks? How about affordable homes built from 3D printers? Or temporary living spaces for the homeless made from …
A Big Bank is in Trouble, and No One Knows Which One or Why
American Banker, Mar. 10, 2022–Claire Williams (subscription)The Federal Deposit Insurance Corp. reported a spike in troubled assets, suggesting a fairly large bank may be under heightened scrutiny. But confidentiality rules …
Wells Fargo Left Black Homeowners Behind in Pandemic Mortgage Refinancing Boom
Bloomberg, Mar. 11, 2022–Shawn Donnan, Ann Choi, Hannah Levitt, Christopher CannonKristy Fercho, who in August 2020 became the first Black woman to oversee Wells Fargo’s home-lending business and its more …
HUD OIG Warns of COVID-19 Fraud Schemes
HousingWire, Mar. 10, 2022–Maria VolkovaIn a flurry of announcements this week, the Department of Housing and Urban Development Office of Inspector General warned borrowers to be on the lookout for …
Condo Shoppers Beware: Balcony Law Could Cost You Thousands of Dollars After You Buy
Orange County Register, Mar. 10, 2022–Jeff LazersonCondo buyers need to pay attention to avoid getting a surprise down the road in the form of a special assessment requiring an additional …
Manhattan Apartment Rents Soar to Record High With Demand Fierce
Bloomberg, Mar. 10, 2022–Jeenah MoonTenants paid a median of $3,630 in February, the most for any month in more than a decade of data-keeping and up 28% from a year …
Mortgage Connect Acquires ADFITECH for QC, Due Diligence and Fulfillment Services
MortgageOrb, Mar. 10, 2022–Ariana FineADFITECH Inc. and Mortgage Connect LP, through one of its controlled subsidiaries, has entered into a definitive merger agreement under which Mortgage Connect will acquire all …
FHA Gets a Budget Boost To Stem Staff Shortages. Is It Enough?
HousingWire, Mar. 10, 2022–Maria VolkovaFormer agency officials question whether a cash injection is enough to take on systemic problems like uncompetitive pay, a lengthy hiring process and an imminent wave …
loanDepot Forms New Unit: mello
National Mortgage Professional, Mar. 10, 2022–David KrechevskyloanDepot Inc. formed a new operating unit called mello, and announced that the new unit will be led by Zeenat Sidi, a FinTech executive …