By NICOLE MURRAY They’re cute and lovable, but having pets or children means additional wear and tear on a property. And that can impact its resale value. As far as which is worse, the answer is pretty consistent across the board with multiple industry professionals. “I find pets have a bigger impact on everything,” said…
By ERIN FLYNN JAY The Philadelphia Navy Yard is shaping up to be one of the country’s most successful military base redevelopments. When completed, the Navy Yard will have seen $6 billion in investments to almost nine million square feet of new life science, commercial, residential, retail, and mixed-use development. Designed with residents, workers, and…
By NICOLE MURRAY Renovations may be timely and expensive, but the right project can increase the value of a home immensely. While do-it-yourself projects can be beneficial, this piece will solely focus on renovations large enough that they typically require the homeowner to take out a loan to complete. The Mortgage Note spoke with various…
By KIMBERLEY HAAS As mortgage lenders work to improve efficiencies using artificial intelligence, the concept that large language models could lead to discrimination against Black borrowers is concerning. But researchers say preventing bias is surprisingly easy. A recent audit study of loan approval and interest rate decisions suggested by large language models shows that LLMs…
By KIMBERLEY HAAS Lawyers for United Wholesale Mortgage are questioning the integrity of a class action lawsuit that claims consumers were duped into overpaying for their loans by brokers who sent most of their business to the lender. In court paperwork filed on Sept. 17, lawyers for UWM say the lender became the victim of…
By ERIN FLYNN JAY The fallout from a data breach or ransomware attack is devastating for financial institutions. There’s monetary loss, operational disruptions that threaten business continuity, and reputational damage to companies that are victimized by hackers. At the end of June, California-based Patelco Credit Union detected a ransomware attack that involved unauthorized access to…
By KIMBERLEY HAAS After months of anticipation, the Federal Reserve cut interest rates by half a percentage point at its meeting this week. This move is expected to boost consumer confidence and bring potential home sellers and buyers off the sidelines and into the housing market. In a statement, officials said members of the Federal…
By ERIN FLYNN JAY As mortgage rates drop, some industry leaders are hopeful that home sales will pick up moving into the fourth quarter, but it looks like 2024 won’t meet expectations. Although applications are ticking up, refinances may be hitting their ceiling, and according to the August economic forecast from the Mortgage Bankers Association,…
By KIMBERLEY HAAS During the first Investor Day held by Rocket Companies, Founder Dan Gilbert shared his vision for the Detroit-based fintech platform. During an on-stage chat with President Bill Emerson, Gilbert said the influence of the internet became clear in the 1990s and since mortgages are not a physical item, it was obvious to him…
By CHUCK GREEN In the battle of the sexes, single fathers are more likely to be homeowners in metro areas, while single women who live by themselves are more likely to own a home in nearly every state. A recent report by Senior Economist Jacob Channel at LendingTree states that single fathers are less common…
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