News

Wells Fargo Pulls Out of Marketing Agreements with Agents and Builders

Wells Fargo announced on Thursday that it has decided to begin winding down its marketing services and desk rental agreements with real estate firms, builders and other referral sources, effective immediately. According to a press release issued by the company,

Americans Contributing More to 401(k) Plans Than Ever Before

According to a new report released by Fidelity on Thursday, Americans have begun contributing more than ever to their employer-sponsored retirement plans. For the first time in history, at the end of the second quarter of 2015, the average annual

Homeownership Rates Continue to Decline As Rentals Soar

CNBC reported on Tuesday that homeownership rates continue to decline to historic lows as rentals soar. According to the news source, the homeownership rate has dropped to 63.4 percent, which is the lowest number we’ve seen since 1967. Rental prices,

Strong Dollar Deterring Potential Foreign Home Buyers

As the housing market continues to pick up steam nationwide, one group of potential buyers has been noticeably absent. According to senior economist Frank Nothaft of CoreLogic, the number of foreign buyers has plummeted recently, thanks in large part to

22 Banks Accused of Manipulating U.S. Treasury Auctions in New Lawsuit

Twenty-two financial companies were sued by the State-Boston Retirement System on Thursday in a class action suit that accuses the banks of conspiracy to manipulate U.S. Treasury auctions that harmed both investors and borrowers. According to Reuters, the pension fund

Hamptons Real Estate Sales Cooling Down

Although the luxury real estate market enjoyed a particularly fruitful year last year with a record breaking number of home sales, 2015 is proving to be a whole different ball game. In the Hamptons, in particular, both sales and median

Median Existing Home Prices, Sales Set Record Highs

CNBC financial reporter Diana Olick reported on Wednesday that the median existing home price in the United States set a record high in June. According to Olick, the average home sold for $236,400 last month, up 6 percent from a

America’s Most and Least Affordable Beach Town Revealed

With the enjoyment of summer comes the lure of investing in a beach-side property for many Americans. As such, realtor.com has just released a list of the most and least affordable beach towns nationwide. According to the site, the most affordable waterfront

Black Knight to Benefit Heavily from Move to Electronic Mortgage Filing

A new banking ruling set to go in effect in October has Black Knight Financial Services Inc. ready to benefit greatly from the proposed switch to electronic mortgage filing. Black Knight is the country’s largest mortgage software firm and has

Wells Fargo Lawsuit Dismissed in Predatory Lending Case

U.S. District Judge Otis Wright ruled on Friday to dismiss a lawsuit filed against Wells Fargo that accused the mortgage lender of violating the federal Fair Lending Act by engaging in predatory lending practices. According to Wright, there we enough

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