Housing Wire

MARCH 26, 2024

Allegations include breach of contract and unjust enrichment, with damages sought at $250 million. In February 2020 , KW introduced a more restrictive policy to its profit-sharing program. But that policy did not impact agents who joined before April 1, 2020. District Court for the Western District of Texas in San Antonio.

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Housing Wire

FEBRUARY 5, 2024

In a court document filed on Friday, HomeServices of America told the Supreme Court that each HomeServices of America client contract states that the “signatories can arbitrate any claim or dispute arising out of the contract.” There is no dispute that the plaintiffs agreed to contracts that include mandatory arbitration provisions.

Contracts 400

Contracts Brokerage Law Real Estate Agent 400

Housing Wire

APRIL 4, 2024

Alper’s complaint challenges adjustments made to Keller Williams’ profit-sharing program and includes charges of breach of contract, declaratory judgment and unjust enrichment. In February 2020 , KW introduced a more restrictive policy to its profit-sharing program. But that policy did not impact agents who joined before April 1, 2020.

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Housing Wire

JANUARY 3, 2024

Deran Pennington, a former Movement Mortgage top sales executive sued for poaching by the lender, filed a counterclaim alleging that Movement breached the contract by failing and refusing to pay his due compensation. According to Pennington’s counterclaim, Movement made him co-national sales director in 2020.

Contracts 392

Contracts Legal Mortgage 392

Housing Wire

JUNE 2, 2021

This week’s data was compared to mortgage applications from the week of Memorial Day in 2020. Purchase applications were down almost 2% from a year ago, but that was compared to the week of Memorial Day 2020.”. over the past month, they are still around 20 to 30 basis points higher than the record lows in late 2020,” he said.

Mortgage 542

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Housing Wire

APRIL 18, 2024

She also included allegations of breach of contract, misappropriation of likeness and tortious interference with prospective contracts. Another source, mortgage tech platform Modex , which collects data from public records nationwide, shows she originated over $95 million in 2020, $93 million in 2021 and $50 million in 2022.

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Housing Wire

JANUARY 26, 2024

It was the largest monthly jump in pending home sales since 2020. For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. New home sales , another measure of contract signings, rose 8% in December on the back of declining mortgage rates. in December, up from 71.6 in November. year over year.

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Contracts Housing Market Construction Inventory 458

Housing Wire

MARCH 18, 2024

In March 2020, the companies entered arbitration. More than three years later, in November 2023, an arbitrator issued an interim award granting, in part, Black Knight ‘s breach of contract claim while denying the allegations of trade secrets misappropriation and injunctive and declaratory relief.

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Housing Wire

DECEMBER 5, 2023

million in damages related to a breach of contract claim (plus interest and attorney’s fees), representing six years of avoided license fees. Black Knight filed a complaint against PennyMac in November 2019 for breaching contracts and misappropriating trade secrets. In March 2020, the companies entered arbitration.

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Contracts Development Legal Law 406

Housing Wire

SEPTEMBER 7, 2021

One year ago this month, I coined the term forbearance crash bros , an updated name for the housing bubble boys who never got their housing crash in 2020 so they moved the collapse of housing to 2021. ended in April 2020. The two-month COVID-19-caused recession represented both the sharpest and the shortest economic contraction in U.S.

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Housing Wire

JULY 7, 2021

This marks the third straight week of application declines, and represents the lowest level since the January 2020. ” Kan said the 30-year fixed rate was 11 basis points lower than the same week a year ago, and refinance applications have trended lower than 2020 levels for the past four months. .

Mortgage 458

Mortgage Contracts Marketing 458

Housing Wire

FEBRUARY 3, 2021

The refinance index also increased 11% from the previous week – up to its highest level since March 2020 – and was 59% higher year-over-year. from one week earlier, though the unadjusted purchase Index increased 8 percent compared with the prior week and was 16 percent higher than the same week in 2020. the week prior.

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Mortgage Contracts Government Inventory 418

Housing Wire

MARCH 31, 2021

drop in the number of homes in contract from the prior month, according to new data from the National Association of Realtors. Gradually increasing mortgage rates, heightened home prices and inventory levels at historic lows finally coalesced in February to depress in-contract deals. Tightened supply was largely responsible for a 10.6%

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Housing Wire

OCTOBER 12, 2022

has terminated a master repurchase agreement and securities contract with Credit Suisse First Boston Mortgage Capital and Morgan Stanley Bank , according to filings with the Securities and Exchange Commission. The financing arrangement was also dated June 3, 2020. Home Point Financial Corp. million, SEC filings revealed. . billion.

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Housing Wire

JANUARY 6, 2021

Mortgage rates continued 2020’s trend at historically low figures, with the 30-year fixed rate at 2.86% and the 15-year fixed rate at a survey low of 2.40%, according to Joel Kan, MBA’s associate vice president of economic and industry Forecasting. Mortgage applications dropped 4.2% That should change as the year progresses, Kan said.

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Mortgage Contracts 395

Housing Wire

MARCH 28, 2024

NWMLS also noted in the motion that in its November 2020 settlement agreement with the National Association of Realtors , the DOJ asked for the types of changes made by NWMLS. DOJ’s apparent change of heart in its [statement of interest] in this case is striking,“ NWMLS wrote in the draft of its brief.

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Housing Wire

JANUARY 13, 2021

Booming refinance activity in the first full week of 2021 caused mortgage applications to surge to their highest level since March 2020, despite most mortgage rates in the survey rising last week,” Kan said. The 30-year fixed mortgage rate climbed two basis points to 2.88%, but the 15-year fixed rate fell to 2.39% — a survey low.

Mortgage 504

Mortgage Contracts Government Buyers 504

Housing Wire

FEBRUARY 5, 2024

In 2020, it originated $8.5 However, if the contract was terminated with cause – which includes cases of fraud or breach of fiduciary duty, among others – he would not receive the severance compensation. In the lawsuit, Seely alleges breach of contract and breach of implied covenant of good faith and fair dealing against Guild.

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Retail Contracts Loan Officers Mortgage 400

Housing Wire

JANUARY 12, 2022

The trade group noted that refi applications are at their lowest level in over a month, while conventional refi applications were at their lowest level since January 2020. The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $647,200) increased to 3.42% from 3.31%.

Mortgage 441

Mortgage Contracts Inventory 441

Housing Wire

JULY 14, 2021

drop in applications to the lowest level since January 2020. After several consecutive weeks of drops, mortgage applications jumped 16% for the week ending July 9, 2021, according to the latest report from the Mortgage Bankers Association. The prior week ‘s report showed a 1.8%

Mortgage 515

Mortgage Contracts Inventory Investors 515

Housing Wire

FEBRUARY 10, 2021

The seasonally adjusted purchase index also decreased from one week earlier – down 5% – though the unadjusted purchase Index increased 2% compared with the prior week and was 17% higher than the same week in 2020. The 30-year fixed mortgage rate increased to 2.96% – a high not seen since November 2020, Kan said.

Mortgage 421

Mortgage Contracts Government Marketing 421

Housing Wire

SEPTEMBER 23, 2020

trillion the MBA is forecasting for 2020. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($510,400 or less) rose to 3.1% The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $510,400) fell to 3.35% from 3.41%. from 3.07%.

Housing Market 536

Housing Market Mortgage Contracts Marketing 536

Housing Wire

JANUARY 4, 2023

The lender and the recruiter had a formal agreement until June 12, 2020, with a non-solicitation clause prohibiting CAVU from hiring or attempting to hire its employees away from the company. The lender said that despite not formally renewing the contract, CAVU continued to provide the services as of September 2022.

Loan Officers 453

Loan Officers Contracts Mortgage Legal 453

Housing Wire

NOVEMBER 4, 2020

Despite volatile conditions like heightened unemployment rates, increased home prices and an adverse market refinance fee , Black Knight estimated over $4 trillion in mortgage origination volume by the end of 2020 with record levels across purchase and refi. The average contract interest rate for 5/1 ARMs fell to 32.67% from 3.05%.

Mortgage 508

Mortgage Contracts Government Marketing 508

Housing Wire

OCTOBER 28, 2021

An index level of 100 is equal to the level of contract activity in 2001. Contract transactions slowed a bit in September and are showing signs of a calmer home price trend, as the market is running comfortably ahead of pre-pandemic activity,” Lawrence Yun, NAR’s chief economist, said in a statement. The index dropped to 116.7

Inventory 421

Inventory Renovations Contracts Buyers 421

Housing Wire

JUNE 9, 2021

The average loan size on a purchase application edged down to $407,000, below the record $418,000 set in February — but still far above 2020’s average of $353,900.” . “Housing demand is still far outpacing supply,” Kan said. ” The refinance share of activity decreased to 60.4% of total mortgage applications from 61.3%

Mortgage 448

Mortgage Contracts Government Buyers 448

Housing Wire

NOVEMBER 2, 2023

California-based nonbank lender loanDepot is suing former chief operations officer Tammy Richards for breach of contract and fiduciary duty, accusing her of stealing confidential information concerning the lender’s customers. 30, 2020, and informed loanDepot that she needed to take an immediate leave of absence.

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Housing Wire

JULY 21, 2021

” Kan added that, on a seasonally adjusted basis compared to the July 4th holiday week, purchase applications dipped back to near their lowest levels since May 2020. . “That’s the lowest level since January 2021.” The post Mortgage applications fall amid market jitters appeared first on HousingWire.

Mortgage 450

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Housing Wire

MARCH 24, 2021

Refinance activity dropped to its slowest pace since September 2020 – down a full 5% – with declines in both conventional and government applications, according to Joel Kan, MBA’s associate vice president of economic and industry forecasting. The post Mortgage applications dip as home prices climb appeared first on HousingWire.

Mortgage 479

Mortgage Contracts Inventory Buyers 479

Housing Wire

JUNE 30, 2021

Purchase applications for conventional loans also declined to its lowest level since May 2020. dip brought application volume to its lowest level in almost 18 months, according to Mike Fratantoni, MBA’s senior vice president and chief economist.

Mortgage 421

Mortgage Contracts Investors Housing Market 421

Housing Wire

NOVEMBER 11, 2020

The purchase market continued its recent slump, with the index decreasing for the sixth time in seven weeks to its lowest level since May 2020. Here is a more detailed breakdown of this week’s mortgage application data: The FHA’s share of mortgage apps fell to 10.6% from 11.1% The VA share of applications increased to 12.6% from 12.2%

Mortgage 473

Mortgage Contracts Buyers Marketing 473

Housing Wire

JANUARY 5, 2022

Refinance demand continues to dwindle, as many borrowers refinanced in 2020, and in early 2021 – when mortgage rates were around 40 basis points lower,” said Kan. The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $548,250) decreased to 3.31% from 3.35%.

Mortgage 406

Mortgage Contracts Marketing 406

Housing Wire

MARCH 17, 2021

After reaching a recent high in the last week of January, the refinance index has since fallen 26% to its lowest level since September 2020.” . “Purchase market activity was up 5% from a year ago, as the recovering job market and demographic factors drive demand, despite ongoing supply and affordability constraints,” Kan said.

Mortgage 409

Mortgage Contracts Construction Marketing 409

Housing Wire

SEPTEMBER 25, 2023

The firm’s legal troubles began in late 2022 when it was sued by attorneys general in Florida , Massachusetts and Pennsylvania over its 40-year contracts. Since starting the program in August 2020, MV Realty says it has enrolled more than 35,000 homeowners in 33 states and has paid homeowners nearly $40 million.

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Realty Real Estate Agent Legal Agents 450

Housing Wire

MAY 3, 2022

The venture capital investment is in addition to $1 billion in separate capital commitments from investors that Point has lined up to help fund what it calls home-equity investment (HEI) contracts. “We Homeowners, in turn, get to cash out a slice of their home equity with no payments due until the contract matures.

Contracts 423

Contracts Investors Investing Market Value 423

Housing Wire

JANUARY 27, 2021

The 30-year-fixed rate rose to 2.95%, its highest level since November 2020, according to Joel Kan, MBA associate vice president of economic and industry forecasting. Purchase applications also decreased last week, but the impressive trend of year-over-year growth since the second half of 2020 has continued in early 2021.”

Mortgage 312

Mortgage Contracts Government Inventory 312

Housing Wire

DECEMBER 2, 2021

During the four week period ending November 28, the number of active listings was a 23% decrease compared to the same time period in 2020 and a 42% drop compared to 2019. The number of new listings was also down compared to 2020, dropping 4%, but it was 12% higher than the number of new listing during the same time period in 2019.

Inventory 508

Inventory New Listings Contracts Housing Market 508