Borrowers and lenders, here is your warning! Reports of mortgage scams and financial hackers keep making it to HousingWire’s headlines. The latest attack involves well-known mortgage company Nationstar. In other news, Wells Fargo is in the headlines again. This time the mega bank is being accused of ripping off vulnerable mom-and-pop businesses. Details on all of this and more inside.
Ten-X Executive Vice President Rick Sharga gave some insight into home prices, saying we are definitely not in a housing bubble. While home prices continue to increase, hitting or even surpassing their previous peak, these numbers are not inflation-adjusted. These graphs show the real state of home prices when adjusted for inflation.
The former chief financial officer of a San Antonio title company will spend the next 30 months in prison after being convicted of stealing more than $367,000 from the company. According to court records, Joseph Karpowicz admitted to issuing himself company checks that he used to pay for personal expenses and credit card bills.
In a move that will create the state of California’s largest independent real estate brokerage, Pacific Union International and Partners Trust announced plans to merge. According to a release from the companies, the combined firm creates the largest independent luxury real estate brokerage in California, with 2016 sales volume of $12.61 billion and projected 2017 sales volume of more than $15 billion.
New York City made it official – it became the first city to guarantee legal council to all low-income tenants facing eviction. NYC Mayor Bill de Basio signed the bill at the No Tenant Stands Alone rally, where he explained what this new law will mean for tenants and landlords.
The U.S. Department of Housing and Urban Development swore in its new secretary of housing and equal opportunity. Anna Maria Farías will join the department once again after serving under former President George W. Bush. This appointment fills another key vacancy at HUD.
A couple buying a home in Washington D.C. lost $1.5 million after a hacker pretended to be a title company and falsely convinced them to wire the money to an account they owned. Unfortunately, this type of scam isn’t new. Here’s a reminder of what buyers can do about the schemes.
The market for short-term rentals continues to grow, and now, Airbnb is beginning to see competition in the market. Google is dipping its toes into the market by adding apartments and homes to their hotel search in some European cities, but it doesn’t plan to stop there.
John Hope Bryant, the founder, chairman, and chief executive officer of Operation HOPE, a non-profit global provider of financial dignity education and economic empowerment programs, is launching a new venture directed at providing affordable rental housing and a path to homeownership for working class and middle class communities. Here are the details on the Promise Homes Company.