In response to a poaching lawsuit filed two months by Home Mortgage Alliance Corp. (HMAC), wholesale lender OCMBC Inc. has denied the allegations while countersuing HMAC and its co-founder, Alfred Hanna, on behalf of an employee, Michael Turturro, and his corporation, Jet Alliance. The OCMBC counterclaim brings eight counts, including…
Continue reading →Mortgage-related consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB) fell between the first and second quarters of this year, according to a review of the CFPB’s consumer complaint database conducted by HousingWire. A total of 5,652 mortgage-related complaints were submitted to the bureau between Jan. 1 and March…
Continue reading →Fannie Mae recorded $4.5 billion in net income in the second quarter, pushing its net worth to $86.5 billion as of June 30. Its net income was up only $164 million from the first quarter, despite a large uptick in purchases of single-family mortgages. Fannie Mae purchased $85.9 billion in…
Continue reading →As Federal Reserve policymakers meet this week amid a high likelihood they’ll keep benchmark interest rates unchanged, the recent downward movement in mortgage rates leveled off. HousingWire‘s Mortgage Rates Center showed that the average 30-year conforming loan rate was at 7.01% on Tuesday. That figure was unchanged from the same…
Continue reading →Perchwell, a New York City-based real estate data firm that works with MLSs, brokers and agents, announced Tuesday that it has raised $25 million in a Series B financing round. The financing round was led by Lux Capital, which also participated in the company’s Series A round. The newest round…
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