DOJ’s 14th redlining settlement is its first with a credit union

Citadel Federal Credit Union “respectfully disagrees” with allegations, agrees to invest $6.5 million and open three new branches in predominantly Black and Hispanic neighborhoods in Philadelphia. Continue reading

Real estate is still processing Aug. 17 and Clear Cooperation

During a panel at Inman Connect Austin on Wednesday, Rachel Hocevar of Compass and Romeo Manzanilla of @properties Christie’s International Real Estate discussed the implications of industry shakeups. Continue reading

NextHome CEO James Dwiggins takes on Clear Cooperation critics

In a LinkedIn post Tuesday, Dwiggins claimed brokerage leaders fighting to repeal the pocket listing rule are concealing an agenda to hoard listings, recruit agents and generate internal leads. Continue reading

Synergy One acquiring national lender Mann Mortgage

Kalispell, Montana-based Mann Mortgage, which operated branches in states throughout the West and Southeast, had tangled with regulators in Idaho and Washington. Continue reading

OceanFirst Bank settles DOJ redlining allegations for $15M

Since launching an initiative to combat redlining in 2021, federal prosecutors have reached settlements with 13 mortgage lenders totaling more than $137 million. Continue reading

UWM and Rate join the $802K conforming loan limit party

With prices rising, it’s becoming standard operating procedure for big lenders like Rocket to help homebuyers avoid jumbo loan pricing by getting a jump on FHFA’s official announcement. Continue reading

Trump allies formulating plans to privatize Fannie and Freddie

A new “Wall Street Journal” report reveals that talks about privatization have been taking place since the spring and have included Trump confidants Larry Kudlow and John McEntee. Continue reading

Mortgage industry vet Diana Reid is first woman to lead Freddie Mac

With former JP Morgan Chase Director Priscilla Almodovar serving as Fannie Mae’s CEO since 2022, both mortgage giants are now led by women for the first time in history. Continue reading

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

NAR to fight DOJ investigation all the way to the Supreme Court

The case dates back to a 2020 settlement between NAR and the DOJ, and to the DOJ’s 2021 attempt to withdraw from that settlement — something NAR is trying to block. Continue reading