Scaling from Freelancer to Business Owner

The economy added an unexpectedly robust 119,000 jobs in September, though unemployment edged up to 4.4%. The report, delayed by the federal government shutdown, continues a trend of sluggish job growth in recent months. View the full article

The national median payment applied for by purchase applicants fell to $2,039 in October from September, the Mortgage Bankers Association said. View the full article

Even with this week's increase, mortgage rates have remained within a 13 basis point band since mid-September, with industry pundits saying that's where they will stay. View the full article

Federal Reserve Gov. Lisa Cook, citing several studies, outlined her concerns Thursday that generative AI could be used to manipulate markets, and regulators have not yet thought through how to police such activity. View the full article

While some international purchasers are reluctant to buy in the U.S. right now, interest in investment properties still abounds, the CEO of Waltz said. View the full article

A federal judge in Pennsylvania ruled the debtor could not prove she was injured by any alleged conduct by Nationstar or other defendants WSFS and A&D. View the full article

Nearly 85,000 sellers removed their properties in September, the highest number for that month in eight years, according to Redfin. View the full article

Sen. Hassan sent letters to corporate owners of manufactured housing communities, looking for answers on affordability and living conditions for their residents. View the full article

A federal judge recommended that an enhanced real estate reporting requirement, which could send paperwork and costs soaring next year, remain intact. View the full article

The Department of Housing and Urban Development announced the FHA-insured loan caps for low- and high-cost areas, which are set based on conforming loan limits. View the full article

Congress has passed a bill giving taxpayers who have been affected by natural disasters some extra time to file a claim for a tax credit or refund. View the full article

The judge's order allows potentially thousands of consumers to join the lawsuit against the company, similar to other fights between borrowers and servicers. View the full article

Fannie Mae sees growth in refinance activity pushing volumes upward, but flattening purchases will temper lender momentum, according to its December report. View the full article

CMBS originated between 2017 and 2021 are especially vulnerable. Brighton counsels CMBS lenders to expect clear workout memos. View the full article

Three U.S. senators opened an inquiry into insurance ratings firm Demotech and whether its assessments may be exposing taxpayers to growing risks tied to climate-driven insurer failures. View the full article

Marshall is tasked with bringing Sagent's Dara servicing platform implementation up to scale, replacing Geno Paluso, who is vice chairman during the transition. View the full article

Rochester, New York, and Harrisburg, Pennsylvania, stood atop Realtor.com's list for the second consecutive year, due to their affordability. View the full article

Home prices are now something Americans can wager on. Polymarket partnered with Parcl to offer prediction markets tied to housing price indices. View the full article

Continuing to retreat from Biden-era rules, the Consumer Financial Protection Bureau and Department of Justice withdrew a 2023 advisory opinion that had cautioned about denying credit to immigrants. View the full article

Executives surveyed by American Banker said companies vying to wrestle market share from banks are a major threat to operations in the coming year. View the full article

US consumer sentiment increased to a five-month high in January as Americans grew more optimistic about the economy and their finances. View the full article

Federal Reserve Gov. Michael Barr is warning small banks about the growing threat from fraudsters' use of AI-generated deepfakes. But he also says AI may be able to help community banks fight fraud more effectively. View the full article

Growth in multifamily and investment property mortgage originations, the highest risk segments, drove the 6% rise in the National Fraud Index, Cotality said. View the full article

The San Francisco-based banking giant reported a 9% annual jump in quarterly profits. It also made official its appointment of CEO Charlie Scharf as chairman. View the full article