Moody’s will pay hundreds of millions to settle allegations that it habitually inflated ratings of shoddy mortgage-backed securities during the run-up to the financial crisis
Wells Fargo’s fake accounts scandal is putting a damper on its mortgage referral business, according to CEO Tim Sloan
When David Zugheri launched Envoy Mortgage 16 years ago, it was only him, his partner, and $8,000. Today the company sells loans in 48 states, employs 1,000 people and stands as a mortgage industry success story.
After the devastating effects of the American housing bubble of the early 21st century, real estate professionals and investors have become very vigilant about a resurgence of greed, graft and unchecked speculation in the housing markets.
Americans have been nervous to get back into commercial investments, and for good reason. The crash hurt more than a few wallets and investors are afraid the growth we’re seeing now is doomed to fail yet again.
A broker in New York has been sentenced to 70 months in prison for falsifying FHA mortgage insurance documents in order to close millions of dollars of loans from 2007 to 2010.
The number of completed foreclosures dropped to 55,000 in March 2013 from 66,000 in March 2012, a 16% drop year-over-year, according to real estate research firm CoreLogic.
Construction spending dropped to a seven-month low in March as public outlays recorded their largest drop since 2006, which could cause the first-quarter economic growth estimate to be trimmed.