In the halls of the Colorado Convention Center on Monday, it was hard not to overhear mortgage bankers gnashing their teeth over the rumored price hikes for Fair Isaac Corp (FICO) scores. “They’ve got us by the balls,” said one mortgage pro in an interview between sales meetings at Mortgage Bankers Association (MBA) Annual 2024…
"2024" Archives
Archive page
Much to the relief of some of the nation’s largest brokerage firms, Judge Stephen R. Bough granted final approval on Thursday to eight settlements in the combined Gibson and Umpa commission lawsuits. Bough’s ruling comes on the one-year anniversary of the jury verdict in the Sitzer/Burnett commission lawsuit, in which a Missouri jury found the…
Real estate agent commissions have held steady since August, but there’s a divergence at different price points. That’s the conclusion of new data from Redfin, which shows that the average commission between August and October dropped by 1 basis point to 2.34%. The data is derived from sales by Redfin agents who have closed a…
Reverse mortgage industry leader Finance of America (FOA) announced updates on Thursday to the interest rate for HomeSafe Second, its proprietary second-lien reverse mortgage product. It will also be available in four new states, bringing the total to 10 with more planned for 2025. The new states are Arizona, Nevada, Oregon and Utah. The interest…