UBS Group said on Monday that it will pay $300 million to settle lingering obligations tied to a Credit Suisse deal with the U.S. Department of Justice (DOJ) over the sales of residential mortgage-backed securities (RMBS). UBS inherited the obligations when it acquired Credit Suisse in a 2023 rescue arranged by Swiss regulators. The bank confirmed on Monday that its U.S. Credit Suisse Securities LLC...
Rocket Companies has begun to reshape Rocket Homes, its real estate subsidiary, following the closing of its acquisition of Redfin. The changes include sunsetting Rocket Homes’ search portal, consolidating agent networks and executing layoffs. Users who visit the Rocket Homes website are now met with a message stating they “can search for homes on Rocket until August 4.” After that, they will be...
While some brokerages are leaning into the use of private listing networks, luxury firm Douglas Elliman said it does not want private listing networks to become the norm. “At Douglas Elliman, we have a long- standing commitment to offering clients greater choice and flexibility while continuing to promote equal access to listings and uphold a transparent, fair housing market,” Michael Liebowitz, the...
In a bold move signaling the next phase of digital disruption in global real estate finance, Miami-based World Property Ventures -- a real estate technology development firm operating at the true intersection of Main Street real estate, Wall Street finance, Silicon Valley innovation and DARPA disruption -- announced its newest portfolio company under development: World Property Bank. Slated to launch in...
Mortgage rates fell 0.18% last week, breaking below the key threshold of 6.64%. Why is this important? Because in the last three years, when mortgage rates fell from 6.64% to 6%, housing demand has improved. Now the question is: can rates go lower? 10-year yield and mortgage rates In my 2025 forecast, I anticipated the following ranges: Mortgage rates between 5.75% and 7.25% The 10-year yield...
The Homebuyers Privacy Protection Act (H.R. 2808) passed through the U.S. Senate with unanimous consent and without amendments late Saturday. The legislation gained approval from the U.S. House of Representatives earlier in June. The legislation is designed to enact a national prohibition on the misuse of trigger leads. Under this act, companies are prohibited from making credit offers unless the...
To avoid a tripped breaker and a potential fire hazard, don't run these appliances...
Should you turn your AC on and off or let it run continually? Here's how to save the most money while keeping your house cool during the summer...
Avoid these overused trends to prevent your outdoor space from looking...
Fancy some armchair travel? Tour this collection of homes with views out over sparkling blue water. From a coast guard’s cottage on the Cornwall, England, coast to a Mediterranean villa in Marseilles, France, these homes all have one thing in common: expansive views of the...
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