The fallout from Fed day got out of hand very quickly. The market reacted badly to the FOMC statement and remarks by Federal Reserve Chairman Powell during the Q&A presser, sending the 10-year yield and mortgage rates higher. Also, the Dow was down over 1,000 points today. So what gives? Market players were already talking…
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Intercontinental Exchange Inc. will spend at least $173 million to locate the headquarters of its mortgage technology division in Jacksonville, Florida. The company and Jacksonville economic development officials announced the expansion on Tuesday. It was confirmed by the City of Jacksonville on LinkedIn the same day. The post explained that ICE is “starting off with…
It’s not a commonly used phrase, but “cottage courts” could be an increasingly common reality in a country that continues to need novel solutions to address severe housing shortfalls. Some organizations and local officials see them as a potential path forward for older Americans seeking to age in place. According to a 2022 report from…
The Consumer Financial Protection Bureau (CFPB) this week released a new report finding that mortgage companies often “create obstacles” for homeowners, leading to what it calls a “customer service doom loop” if a death or divorce impacts the original borrower of a mortgage loan. “Many homeowners report that their servicers push them to take on…