In conjunction with National Senior Citizens Day on Wednesday, the New York Department of State’s Division of Consumer Protection is circulating a series of tips that aim to help older adults avoid financial scams and exploitation. One way that bad actors may try to take advantage of older Americans is through reverse mortgages. “Not all
The average loan balance for first mortgages rose from $345,761 in the first quarter to $356,993 in the second, the Mortgage Bankers Association reported. Whether it’s refining your business model, mastering new technologies, or discovering strategies to capitalize on the next market surge, Inman Connect New York will prepare you to take bold steps forward.
(Photo Credit: Jonathan Weiss/Shutterstock) Wells Fargo class action lawsuit overview: Who: Plaintiff Barbara Prado filed a class action lawsuit against Wells Fargo & Company and Wells Fargo Bank NA. Why: Wells Fargo allegedly sent vague letters and cashier’s checks to buy off affected consumers without explaining how an error affected their mortgage loan accounts. Where:
Värde Partners-backed Trimont is expanding its commercial real estate (CRE) loan services by acquiring Wells Fargo’s non-agency third-party US commercial mortgage servicing (CMS) business. The acquisition of the largest servicer of CRE securitised debt in the US, for an undisclosed sum, positions non-bank lender Trimont as the leading loan servicer in the US, managing a
After dropping significantly during the first two weeks of August, mortgage rates have plateaued ahead of a key economic announcement on Friday. That’s when Federal Reserve Chair Jerome Powell is set to speak at the annual Jackson Hole Economic Symposium in Wyoming. Powell is expected to deliver an update on U.S. monetary policy to central
In the newest episode of the Power House podcast, HousingWire CEO Clayton Collins chats with Randell Gillespie, the chief production officer at Lower and a 2023 recipient of the HousingWire Vanguard Award. The duo dive into several topics, including Lower’s transformed culture and leadership structure following its acquisitions of Thrive Mortgage and Universal Lending. They
(Bloomberg) — Toll Brothers (TOL) Inc. raised its expectations for profit margins for its full fiscal year as lower mortgage rates sparked demand for the company’s luxury homes. Most Read from Bloomberg Key Insights Purchase contracts for the three months through July rose 11% from the same period a year earlier to 2,490. While that
Master technology adoption strategies that maximize your ROI and turn your technology investments into measurable business successes. Join Juliet Leibon of Better Mortgage and Richard Grieser of Truv as they share lessons and insights learned from decades in the mortgage industry driving mortgage technology adoption. Discover how to create a robust change management framework that
Key Takeaways Wells Fargo agreed to sell the non-agency third-party servicing segment of its commercial mortgage servicing business to privately held Trimont. The deal makes Trimont the largest loan servicer in the U.S., it said. Wells Fargo is prioritizing “businesses that are core to [its] consumer and corporate clients,” according to its head of commercial real
Independent mortgage banks (IMBs) are finally seeing light at the end of the tunnel after two grueling, profitless years in the mortgage industry. IMBs and mortgage subsidiaries of chartered banks on average reported a pre-tax net profit of $693 on each loan they originated in the second quarter of 2024, an increase from a loss