FGMC - Real Estate Investor Pulse

Defunct FGMC, former employees seek $1.75M settlement on WARN Act suit

December 6, 2023 Mariel Alumit Comments Off

The now defunct First Guaranty Mortgage Corporation (FGMC) and former employees – who sued the mortgage lender in a class-action suit after an abrupt layoff – are seeking a Delaware bankruptcy judge to settle a […]

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 […]