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NY real estate developer wants $1.1 bln from law firm over blown deadline

May 9, 2023 Mark Paul Cervantes Comments Off

(Reuters) – A real estate developer has filed a $1.1 billion legal malpractice lawsuit against New York law firm Herrick Feinstein, alleging that the firm bungled his case and that one of its attorneys lied to two […]

Aurora extends the Better.com merger deadline once again

March 3, 2023 Mark Paul Cervantes Comments Off

Blank-check firm Aurora Acquisition Corp. extended the deadline to complete its merger with struggling digital mortgage lender Better.com for the third time. The deadline for the merger is now September. The decision was made during […]

Rocket lost money last year, so why are its shares up?

February 25, 2024 Comments Off

Rocket Companies, the parent of Rocket Mortgage, lost money in 2023, but executives have expressed confidence about a big turnaround by touting investment in artificial intelligence (AI) to accelerate the company’s profitability. Despite reporting […]

Industry experts are closely watching delinquency rates, insurance costs

February 25, 2024 Comments Off

Mortgage servicers, regulators and economists are closely watching the delinquency rates for Federal Housing Administration (FHA) loans following a spike in the fourth quarter of 2023. Industry experts say that although there’s a correlation […]

Jobs data sends mortgage rates higher

February 3, 2024 Comments Off

Today we got a jobs Friday hat trick! Better headline jobs were reported, with positive revisions and more robust wage growth, which caught bond traders off guard and sent bond yields and mortgage rates […]