Contracts, Invoices & Legal

Federal Reserve Gov. Christopher Waller said during an appearance Monday his decision on whether or not to support a cut to short-term interest rates depends on labor market indicators. View the full article

Some mortgage companies are taking advantage of a loan-interest deduction that was designed to benefit community banks, a Washington State legislator alleged. View the full article

The Bureau of Labor Statistics reported that the economy lost 92,000 jobs in February while unemployment held steady at 4.4%, a development that could spur the Federal Reserve to question whether interest rates are truly in balance. View the full article

President The President's criticism of large institutional investors prompted inclusion of a sales timeline for build-to-rent properties in the ROAD Act, which in turn pushed NAHB to withdraw its support. View the full article

Borrowers or lenders could use the prediction markets as a hedging tool, although experts noted the lack of trading volume as cause for caution. View the full article

Lennar's first fiscal quarter earnings were down by more than half after three years of persistent trials which are testing consumer confidence and sentiment. View the full article

Americans 70 years or older held 26% of the United States' $48 trillion in real estate wealth in the third quarter of last year, Redfin said. View the full article

The contract rate on a 30-year mortgage rose 11 basis points to 6.30% in the week ended March 13 following a similar advance at the week before, according to Mortgage Bankers Association data released Wednesday. View the full article

The 30-year fixed mortgage has increased by 40 basis points since February, while the 15-year is 14 basis points lower than a year ago, Freddie Mac reported. View the full article

The latest rise in property tax collections at the end of last year continued a nine-quarter streak of increases, according to the National Association of Home Builders. View the full article

United Wholesale Mortgage lost ground to RKT in one category but held onto a healthy lead in another, an analysis of Home Mortgage Disclosure Act data shows. View the full article

San Francisco's median house price jumped to a record $2.15 million in March, up 18% from a year earlier as wealth generated by artificial intelligence startups flooded the city, according to brokerage Compass Inc. View the full article

An appellate court reversed part of an $8.5 million award for attorneys who secured a $38.5 settlement against the lender in 2023 in a False Claims Act case. View the full article

Treasury Secretary Scott Bessent on Wednesday defended cuts to the Community Development Financial Institution Fund in the president's 2027 budget, telling the Senate Appropriations Committee that the program had pursued a "partisan wish list." View the full article

The addition of HELOCs at SoFi comes alongside the launch of a new advisory group, as the company heightens its focus on real estate lending. View the full article

Home affordability declined on a monthly basis across loan types and racial demographics, but improved from a year ago, the Mortgage Bankers Association said. View the full article

Employers hired an additional 115,000 workers in April, while unemployment remained unchanged at 4.3%. Despite the positive headline figure, a spike in newly unemployed workers and a rising number of underemployed workers suggests instability under the surface. View the full article

Karsten Giesecke and Michael Karol join Morriello to represent clients such as lenders and private equity funds in transactions including RMBS, CMBS, franchise loans and esoteric assets. View the full article

The Federal Open Market Committee voted to reduce interest rates by 25 basis points Wednesday, but the emergence of dissents on the committee makes the chance of another quarter-point cut in December less certain. View the full article

The investor markets already set mortgage rates to include the 25 basis point reduction the FOMC announced, and it is too early to see the longer-term effect. View the full article

The lowest-priced properties purchased by investors typically left them in the red when sold, according to the latest home flipping report from Attom. View the full article

Principal will be distributed pro rata among the senior A1 through A3 certificates, and subordinate bonds will not receive any principal until all senior classes are reduced to zero. View the full article

IMBs outperform banks, face outsized scrutiny, and confront rising affordability challenges, according to the President of the Community Home Lenders of America. View the full article

The fourth quarter results integrated the operations of both Redfin and Mr. Cooper into Rocket Cos., with the deals likely contributing to the full year loss. View the full article