City National revamps mortgage after redlining settlement

The Royal Bank of Canada subsidiary is now offering grants of up to $50,000 in majority-Black or Hispanic census tracts in the metro Los Angeles market as part of a larger initiative to boost lending in underserved communities. Continue reading

OJO CEO John Berkowitz on the AI revolution: ‘We’re in a hype cycle’

OJO founder and CEO John Berkowitz shares what a Chinese translation of “crisis” means for his company and what impact artificial intelligence might have on real estate. Continue reading

OJO nets $200M via sale of Canadian operations, new debt raise

The company is selling its Canadian operations to Royal Bank of Canada, while also raising new funds from Vista Credit Partners. Continue reading

City National Bank to pay at least $31M to settle redlining charges

The biggest redlining settlement in DOJ history is the fifth enforcement action since the launch of the initiative to combat redlining in 2021, with $75 million in relief to date. City National denied that it engaged in redlining. Continue reading

The average Canadian home now costs double what it does in the US

Between 2020 and 2022 Canadian home prices have surged 30 percent — an increase described as “nothing short of stunning” by economist Robert Hogue in a report for the Royal Bank of Canada. Continue reading

OJO Labs expands into Canada

OJO Labs, a technology startup that uses artificial intelligence to match consumers with the homes that might best suit them, announced today that it has expanded into Canada. The announcement marks the first time the firm has officially expanded beyon… Continue reading