Author: badmortgage
A Massachusetts judge has sentenced a South Shore real estate broker who diverted $11 million in escrow funds for personal expenses to up to three years in prison, half of the prosecution’s request. Stephen Webster, 63, pleaded guilty to causing the downfall of Success! Real Estate, Inc., a company that abruptly shut down in December 2024 amid an embezzlement investigation. Plymouth Superior Judge Daniel O’Shea sentenced Webster to two to three years in state prison, followed by five years of probation. Conditions of Webster’s probation include the former longtime broker and principal not being able to hold a position of…
“Seasonally adjusted purchase application volume also declined over the week, but only by 3%. The headwinds of higher rates are being offset somewhat by the buyer’s market in many parts of the country.” Listings improved but uncertainty lingered On the supply side, early spring data pointed to more options for house‑hunters. “New listings jumped more than 20% from February to March, above the historical seasonal norm, and that’s an encouraging sign of seller confidence,” said Jake Krimmel, senior economist at Realtor.com. “March typically sets the table for the spring season, and last year we saw that momentum collapse almost immediately…
Having bad credit and trying to get an auto loan can be like turning the key in your car but the engine won’t start. Borrowers with low scores typically have to use lenders that specialize in auto loans for bad credit. Instead of giving up on a car search, stay optimistic amid the difficulty, said certified financial educator Gretchen Seidel, an expert at automotive consulting and financial literacy firm Seidel & Co. “A score is a snapshot in time; it doesn’t define the person, it’s only their credit profile in that moment in time,” Seidel told The Independent in an…
Leann Ledford’s husband is a veteran who was hurt in Afghanistan. Through complications with the VA home loan program, her family is now facing eviction in Spokane, Wash. Margaret Albaugh for NPR hide caption toggle caption Margaret Albaugh for NPR More than 10,000 veterans lost their homes to foreclosure since May of last year, when the Trump administration shut down a key safety net in the VA home loan program, according to the latest industry data. That is the highest pace of foreclosures for VA loans in a decade. Another 90,000 vets are heading toward foreclosure. This comes after a…
S&P Global Ratings upgraded ratings on three classes and affirmed ratings on five classes in PenFed Auto Receivables Owner Trust 2022-A and 2024-A. TYSONS, Va., April 2, 2026 /PRNewswire/ — PenFed Credit Union, one of the nation’s largest federal credit unions, received notable upgrades and affirmations from S&P Global Ratings on the ratings of the bonds issued through its prime auto loan securitization offerings PenFed Auto Receivables Owner Trust 2022-A and 2024-A due to strong performance. S&P Global Ratings upgrades to PenFed Auto Receivables Owner Trust 2024-A includes: Class B has been elevated to ‘AAA (sf)’ from ‘AA (sf)’, Class C…
By ALEX VEIGA, AP Business Writer The average long-term U.S. mortgage rate climbed for the fifth straight week, reaching its highest level in nearly seven months, another setback for home shoppers in the midst of the spring homebuying season. The benchmark 30-year fixed rate mortgage rate rose to 6.46% from 6.38% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the rate averaged 6.64%. The last time the average rate was higher was Sept. 4, when it was at 6.5%. When mortgage rates rise, they can add hundreds of dollars a month in costs for home shoppers, limiting…
A major private credit investment firm, Blue Owl Capital, has imposed a cap on withdrawals after investors tried to pull $5.4bn from two key funds, in the latest sign of crumbling confidence in the unregulated lending market.The New York-headquartered firm released filings on Thursday that showed a surge in redemption requests, with investors asking to take back 21.9% of the cash stored in Blue Owl’s $20bn (£15bn) Credit Income Corp Fund between January and March. Meanwhile, investors requested 40.7% of funds from its $3bn tech lending fund.It comes amid growing jitters over potentially risky loans arranged by private credit firms,…
“Manhattan had a powerful start to the year. Sales are growing, volume is up, and pricing is holding firm, even with all the noise in the broader economy. It’s an active market, but a disciplined one. Demand is there; buyers are just more thoughtful about when and how they move. When something is priced right and move-in ready, it sells quickly, which tells you the fundamentals are solid. Inventory remains tight, especially in new development, and that’s continuing to support pricing, particularly at the higher end. As we head into spring, it really comes down to supply and confidence. As…
We asked the leaders of North Texas brokerages to tell us who generated the most revenue for their companies in 2025. The number of names they were allowed to submit was based on their total number of licensed brokers, with a couple of exceptions for equal partners and smaller firms. In all, executives at more than 100 firms employing nearly 3,000 brokers participated. Members of the 2026 class of D CEO Power Brokers are presented below in alphabetical order, by area of specialty.Commercial Property & Land SalesAdam Abushagur, Marcus & MillichapMark Allen, ColliersAndy Anand, Douglas EllimanSarah Anderson, NewmarkScott Axelrod, Henry…
Buyers and homeowners looking to refinance should carefully consider their current mortgage rate options before applying now. Kirpal Kooner/Getty Images Monitoring the mortgage interest rate climate for affordable opportunities is an integral part of the homebuying and refinancing processes. And in the first two months of 2026, movement here for borrowers was positive, largely driven by a series of Federal Reserve interest rate cuts in the final months of 2025. At one point in February, the average rate on a 30-year mortgage was comfortably under 6%, around its lowest level since 2022. There were multiple ways, in fact, in which…