A massive judgment has been awarded by a jury in a lawsuit accusing a title insurance company affiliated with Quicken Loans Inc. of misappropriating valuation technology. Detroit-based Amrock Inc., which recently re-branded from Title Source Inc., says it is the...
For the first time this year, fixed interest rates on residential loans turned lower. But the story was different for adjustable-rate mortgages. During the seven-day period that concluded on March 15, thirty-year fixed rates averaged 4.44 percent, according to Freddie...
Millennials who have been slow to make the move to homeownership are finally starting to edge out older buyers. Last year, millennials accounted for 36 percent of U.S. home buys — more than any other age group according to the National Association of Realtors....
Wells Fargo & Co. Chief Executive Officer Tim Sloan was awarded $17.4 million in compensation for his work last year, a more than 35 percent increase from the year as the bank continued to struggle with scandals. But Wells noted it did not award Sloan a cash bonus...
A rate lock is a commitment by a mortgage lender to lend a stated amount to a specified borrower posting a specified property as collateral, at a stipulated interest rate and points. An important proviso is that the loan must be closed within a specified “lock...
