Mortgage lenders loanDepot and Cardinal Financial are the targets of class-action-seeking lawsuits alleging deceptive practices, negligent misrepresentation and gross negligence against Texas homeowners. In a pair of lawsuits filed in a state court in Dallas County, each targeting one of the lenders

As the saying goes, everything is bigger in Texas. A copycat commission lawsuit filed on Thursday by home sellers in the United States District Court for the Eastern District of Texas, accuses 47 real estate industry defendants of allegedly conspiring to artificially inflate real estate agent commis

Dallas, Texas – HousingWire, the leader in mortgage and real estate news and information, proudly announces the ascension of its flagship podcast, HousingWire Daily, to the No. 2 position among business news podcasts in the United States. Renowned host Sarah Wheeler, accompanied by regular guests Lo

Real estate tech firm Prevu announced a Series A financing round Thursday of $6 million. Citi, RiverPark Ventures, Metropolis Ventures, Simplex Ventures, Winklevoss Capital and Liebenthal Ventures invested in the round.Launched in New York City in 2017, Prevu offers buyers up to 2% cash back of the

Opendoor founder Eric Wu is leaving the iBuying giant, according to a document filed with the Securities and Exchange Commission on Friday.The filing states that Wu announced his decision to resign as the firm’s president of marketplace and from the board of directors, effective Jan. 1, 2024, on Thu

Mr. Cooper Group’s examination of the cyberattack it suffered in late October concluded that the personal information of current and former customers was compromised. The data breach led the company to estimate an additional vendor cost related to the incident in the fourth quarter to include offeri

The Federal Communications Commission (FCC) — the government regulatory body overseeing communications across a wide variety of media including radio, telephone cable and the internet — adopted a new series of rules on Wednesday designed to crack down on controversial lead generation methods, includ

A coalition of bipartisan lawmakers in the U.S. Senate on Wednesday introduced legislation targeting the practice of mortgage trigger leads.The bill, designated “S.3502,” is designed to “amend the Fair Credit Reporting Act (FCRA) to prevent consumer reporting agencies from furnishing consumer report

New York State’s largest multiple listing service just got larger. OneKey MLS has acquired Mid-Hudson MLS according to an announcement on Monday, growing its membership to nearly 50,000 agents.The Poughkeepsie-based Mid-Hudson MLS is a broker-owned MLS serving over 1,400 agents in Dutchess County an

The holidays have come early for the mortgage industry. Mortgage rates fell below the 7% threshold this week as markets prepared for Federal Reserve Chairman Jerome Powell’s announcement on Wednesday.The 30-year, fixed mortgage rate averaged 6.95% for the week ending Dec. 14, according to Freddie Ma

Editor in Chief Sarah Wheeler sat down with Kirill Klokov, CEO at Truv, to talk about the advantages of consumer-permissioned data for data quality and security. This interview has been edited for length and clarity.Sarah Wheeler: How did you get into the verification space?Kirill Klokov: It was thr

The Real Estate Standards Organization is welcoming many new and returning board of director members in 2024. The organization announced its board of directors’ election results, as well as director and executive committee appointments in a release on Thursday.Of the nine open board of director seat

Mortgage industry trade group Community Home Lenders of America (CHLA) is urging government agencies to begin to have conversations surrounding the impact of the jury verdict and potential court ruling in the Sitzer/Burnett commission lawsuit on lending practices.In a letter submitted Thursday to Fe

Texas-based mortgage platform Stairs Financial launched on Thursday after completing a $3.5 million funding round. With first-time buyers accounting for just 26% of all home purchases in 2022 — a 41-year low — the mortgage market place aims to help first-time homebuyers with the right program and mo

In an update to its selling guide, Fannie Mae announced Wednesday that it was expanding the use of attorney opinion letters in lieu of title insurance.Previously, the only transactions ineligible for an AOL were those that involve loans secured by a unit in a condo project, co-op share loans, loans

In 2023, Fannie Mae and Freddie Mac announced plans to make it easier to buy a home and close the racial homeownership gap in the United States. Homeownership is one of the most important decisions in a person’s life and is a primary vehicle for wealth creation for the majority of households. In fac

The housing market cheered as the Federal Reserve signaled interest rate cuts next year after making a series of rapid rate hikes starting in 2022. While the central bank did not completely rule out the possibility of a rate increase in 2024, that action seems unlikely. Instead, fresh economic proje

The Mortgage Bankers Association (MBA) and the National Mortgage Servicing Association (NMSA) are expressing their views on a recently revised Federal Housing Administration (FHA) loss mitigation proposal, stating that it needs additional adjustments to effectively address the challenges it is desig

Government sponsored enterprise Freddie Mac has approved mortgage technology company Truv for both payroll verifications and consumer-permissioned income. With the new integration, lenders will have access to the Truv platform to obtain and transmit information and data required on Freddie Mac’s Loa

Compass’ chief operating officer Greg Hart will leave the brokerage at the end of the year, according to a document filed with the Securities and Exchange Commission on Tuesday.According to the filing, Hart’s position is being eliminated and Compass will not seek to fill the vacancy. As such, Hart i