A new law going into effect this summer in Washington aims to address the state’s housing supply woes. The legislation lifts zoning restrictions to allow for more multifamily development and comes as the median single-family home price in the Seattle area set a new record by exceeding $1 million.
State lawmakers in New York have introduced legislation that would block mortgage lenders from receiving title insurance payouts when real estate transactions are later found to be based on stolen deeds.
S.B. 7732 was introduced May 2 and seeks to prohibit title insurers from compensating lenders for losses tied to transactions deemed “false or fraudulent.”
CoStar Group is using Boost, its new Homes.com marketing feature, in an attempt to counter the bans by Zillow and Redfin on listings that are publicly marketed prior to being entered into the MLS.
On Thursday, CoStar Group CEO Andy Florance told Inman News that Boost will be free for listings impacted by the Zillow and Redfin bans.
While awaiting Senate confirmation to lead the Consumer Financial Protection Bureau (CFPB), Jonathan McKernan was nominated by President Donald Trump for a key role at the U.S. Department of the Treasury, according to Treasury Secretary Scott Bessent.
According to Law360, a spokesperson for the White House later confirmed that McKernan’s nomination with the CFPB will not proceed.
While the real estate brokerage community battles it out over the National Association of Realtors’ (NAR) Clear Cooperation Policy (CCP), lawmakers in one state have taken things into their own hands.
Blend Labs, Inc. reported its Q1 2025 earnings Thursday, touting a turnaround as its financial losses narrowed, deal pipeline strengthened and it landed major clients while sharpening its focus to become “software-first.”
Federal prosecutors have expanded their case against the Alexander brothers.
In a superseding indictment filed Thursday in a Manhattan federal court, prosecutors added six more charges against one or more of the brothers. The charges are related to sex trafficking involving four additional women, including one minor. The federal case now includes a total of nine charges of sexual trafficking involving six women.
New York Attorney General Letitia James is the target of a criminal investigation related to mortgage fraud, following a referral by Federal Housing Finance Agency (FHFA) Director Bill Pulte, multiple news outlets reported Thursday.
The expense associated with originating mortgage loans has been escalating, with the current average cost approximating $11,600 per loan. A substantial component of this expense is attributed to Loan Officer Compensation (LO Comp), which typically constitutes 1% to 2% of the loan amount and represents nearly half of the total origination cost. This heightened compensation framework is primarily propelled by the considerable cost of lead acquisition, further aggravated by the lower conversion rate of leads.
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