Federal Court Rules Real Estate Industry Must Refund Homeowners $1.8 Billion. Amount Could Balloon To $5 Billion A Missouri jury has handed down a landmark ruling against the real estate industry. The court ordered the National Association of Realtors and several large residential brokerages to reimburse homeowners $1.8 billion to $5 billion for artificially inflating commissions. […]
Wells Fargo Economists Warns Homeowners To Be Prepared. Pending Housing Recession Could Be Worse Than The 1980s! Wells Fargo economists have issued a warning. They are warning that the pending housing recession could be worse than the Reagan Recession of the early 1980s. Why? Well, for starters, they say the Federal Reserve’s aggressive rate hiking […]
More Banks Are Shuttering Branches. Fifth Third Bank Shutters 19 Branches, Citizens Bank Closes 7 Branches and PNC Axes 3. The newest trend in banking is expanding as more banks are shuttering branches. Fifth Third Bank filed notice with the OCC last week they are closing 19 brick-and-mortar locations across the country. Unfortunately, they are […]
And Another One Bites The Dust! Homestar Financial Shuts Down Amidst Mortgage Volatility Georgia based Homestar Financial announced this week that it is shutting down. The company blames rising mortgage rates and massive volume decrease. Additionally, they are also blaming the market compression for the closure. A Homestar Financial LO posted on Facebook: Please pray […]
Commercial Borrowers Beware: The Deceptive Romspen Loan-To-Own Toxic Financing Scam That Could Cost You Everything There has been a particular odd pattern in which Canadian commercial lender Romspen has been lending money in the past ten years. The reason this is particularly odd is that Romspen is lending against projects that don’t generate any revenue […]
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