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The Consumer Financial Protection Bureau (CFPB) last month issued an enforcement order against former Home Equity Conversion Mortgage (HECM) servicing contractor NOVAD Management Consulting and subcontractor Sutherland Global for what the bureau called “illegal activities that harmed older homeowners and caused them to fear losing their homes.” An attorney said…
Continue reading →Amid the greenery of suburban Maryland, Legacy at Twin Rivers is an unassuming apartment building, with clean, modern design and a pleasant landscape that you might mistake for any new, market-rate rental property in the area. And that’s the point. At a time of skyrocketing housing costs, rising interest rates,…
Continue reading →Limited inventory and high mortgage rates continue to push home prices higher, but the pace of growth is starting to slow down. That’s according to the monthly home price index report from CoreLogic, which shows that U.S. home prices grew by 4.9% year over year in May. That was the…
Continue reading →While many had hoped the Department of Justice’s interest in the real estate industry would wane with the business practice changes outlined in the National Association of Realtors’ commission lawsuit settlement agreement, that is clearly not the case. In a message on Realtor Hub, a forum for NAR members, trade…
Continue reading →Patrice Ficklin, who has served at the Consumer Financial Protection Bureau (CFPB) since the agency’s founding in 2011, will depart for Fannie Mae to serve as the government-sponsored enterprise’s fair lending officer. The news was first reported by American Banker. Ficklin has been a mainstay at the CFPB, overseeing the…
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