Reflecting the challenges faced by the housing industry, a mere 16 mortgage lenders and brokers have secured their positions on the annual list of Inc. Magazine’s 5,000 fastest-growing private companies in the U.S. for the year 2023. This marks a significant drop from the previous year, 2022, when almost 70 mortgage lenders and brokers were…
All posts in August 2023
Landmark Verdict: Jury Awards $612 Million to Fannie and Freddie Shareholders
In a momentous legal decision, a jury has awarded $612 million to shareholders of Fannie Mae and Freddie Mac, two of the United States’ largest mortgage finance companies. This verdict has sent ripples throughout the financial and legal landscapes, underscoring the complex relationship between government intervention, shareholder rights, and the broader implications for the housing…
Market Review: Volatility Sparks In Response To Crucial Inflation Data
The Week of August 14th, 2023 This week’s market review highlights the impact of crucial inflation data on market volatility, as well as the opportunities presented in homeownership. Read on for more insights. Is Consumer Inflation Resurfacing? The Consumer Price Index (CPI) for July indicates a 0.2% rise in inflation, slightly below estimates. However, on…
American Mortgage Network: A Remarkable Journey from 100% Employee Ownership to Inc. 5000 Ranking.
Introduction In the dynamic landscape of the American financial industry, where businesses constantly strive to make their mark, one company has risen to the occasion with an inspiring story of success and collaboration. American Mortgage Network, a national mortgage lender, has not only secured its position on the prestigious Inc. 5000 list but has also…
US Plans $103 Billion Debt Sale
In July, US companies surpassed expectations by adding a higher number of jobs, showcasing the ongoing resilience of the labor market. According to the ADP Research Institute in collaboration with Stanford Digital Economy Lab, private payrolls increased by 324,000 last month, exceeding all estimates in a Bloomberg survey of economists. The job gains were quite…
Your Guide to the July Mortgage Market: Key Highlights and Insights
The U.S. economy has demonstrated resilience in the face of rising interest rates, growing at its long-run average rate of 2% during the first quarter of 2023. The labor market remains robust, with unemployment below 4% and an increase in labor force participation for the 25–54-year-old age group. However, the housing market has been impacted…
Racketeering Trouble On The Horizon for CrossCountry Mortgage…
Despite numerous efforts to have the racketeering charges dismissed, the future appears to be fraught with difficulties for the prominent non-bank lender. The company has repeatedly sought to have multiple motions to dismiss the charges, but their attempts have thus far been unsuccessful. This ongoing legal predicament suggests that the lender could be facing significant…