All Posts in "Real Estate News" Category

The wildfires ripping through Los Angeles are on pace to be the most destructive in U.S. history, as one estimate concludes that property damage from the Palisades and Eaton fires could exceed $45 billion. When they’re finally extinguished, the city and its residents will have to sift through the devastation and answer questions about how…

Seattle-based WaFd Bank, which has offered home loans for more than 100 years, announced Thursday in an earnings report that it will exit the single-family mortgage lending business. WaFd president and CEO Brent Beardall said in a LinkedIn post that the move will involve layoffs for about 8% of the company’s employees and called it…

Florida-based non-QM lender A&D Mortgage announced Friday that it has acquired the wholesale and nondelegated correspondent lending businesses of Mr. Cooper Group. The terms of the deal have not been disclosed but it is expected to close by the end of March 2025. A&D reported that the two entities being acquired funded more than $10…

Government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac announced this week that the planned transition from a “tri-merge” credit model — requiring credit reports to be pulled from all three, major agencies — to a “bi-merge” model that would require only two will be tied to other, new credit score requirements that currently do not…