Real Estate News
Lender Meltdown brings you real estate news from the US and the world! We focus on real estate news and insight from the US and from around the world. Information you need to know before making a housing purchase or a real estate investment. We bring you news and information from industry insiders and sources that the mainstream financial media doesn't. Lender Meltdown also has boots on the ground. These "boots on the ground" give us daily and weekly updates of what is going in the field. Our contributors have decades of experience in lending and real estate. That experience gives us the advantage of being able to give information in plain English without all the industry technobabble and industry jargon.
Bank of America Has Prevailed In Ghetto Loans Lawsuit
Bank of America Has Prevailed In The Cook County Ghetto Loans Lawsuit As 7th Circuit Court of Appeals Rules In It’s Favor Bank of America has prevailed in a ghetto loans lawsuit brought against it by Cook County, Illinois. Cook County sued the bank alleging predatory mortgage loans to Black and Hispanic borrowers in the Chicago…
Romspen Investment Corp. Sues Fake Real Estate Tycoon
Canadian Lender Romspen Investment Corp. Sues Fake Real Estate Tycoon Caroline Weiss For Foreclosure After Throwing $21.3 Million At Her Are you an inexperienced real estate developer who is being sued for fraud by your own daughter and need a $21.3 million dollar loan? Well, we have perfect lender for you! Yes, Canadian lender Romspen…
Negative Equity Alert! Homeowners Have Lost $108.4 Billion
Negative Equity Alert As US Homeowners Lose $108.4 BILLION In Equity This Year Alone. 200,000 Homeowners At Risk Of Going ‘Underwater’ MFI-Miami has issued a Negative Equity Alert! Why? Homeowners are sitting on a negative equity timebomb. US home values have dropped a whopping $108.4 billion in 2023 alone. The average borrower saw their home…
Mortgage Applications Fell By 4.4% Last Week
MBA Says Mortgage Applications Fell By 4.4% Last Week After Weeks Of Several Weeks Of Increases. The Mortgage Bankers Association says that mortgage applications fell last week to their lowest level in a month. This is after several weeks of increases from various sectors. The MBA’s Weekly Mortgage Applications Survey for the week ended June…
Rate Lock Volume Jumps 43 Percent
Rate Sensitive Borrowers Are Causing Rate Lock Volume To Jump 43%. Are Borrowers About To Go Into Panic Mode? Rate lock volume jumped 43% in March. Some experts say this is due to market conditions. Lock volumes increased across the board. This was led by purchase locks jumping 44% in March. This was above the…
eXp Realty Agents Accused Of Drugging And Raping Recruits
Lawsuit Alleges eXp Realty Turned A Blind Eye To It’s Agents Who Drugged And Sexually Assaulted Recruits A very disturbing and controversial lawsuit has been filed against eXp Realty and eXp World Holdings. The lawsuit alleges that eXp Realty “turned a blind eye” on former agents sexually assaulting women at the company events. Plaintiffs filed…
Redfin Laying Off More than 800 Employees
Redfin Announced Wednesday It Is Laying Off 862 Employees. This Is 13% Of Its Staff. They Also Stated They Are Getting Out Of The iBuying Business. Redfin CEO Glenn Kelman wrote in an email to employees that the company is “laying off 862 brilliant, loyal people.” He also added that the company was closing RedfinNow….
American Homeowners Lost $1.3 Trillion In Equity
American Homeowners Lost $1.3 Trillion In Equity In Their Homes In The 3rd Quarter Of 2022 American Homeowners saw their home values peak in the second quarter of this year. Unfortunately, it was short lived. American homeowners lost nearly $1.3 Trillion in equity from July through September. The value contraction is a record according to…
Queens Leads New York In Foreclosures
Queens Leads New York In Mortgage Foreclosures As New York Feels The Pinch Of High Interest Rates And Plummeting Values A PropertyShark report has revealed Queens leads New York in foreclosures again. Foreclosures in the borough have increased 55% compared to the same time as the third 2019 figures. PropertyShark found that foreclosures are up…
Pending Home Sales Are Down 31% From Last Year
Pending Home Sales Are Down 31% From Last Year. Economists Go Into Panic Mode As Sales Are Worse Than They Predicted The National Association of Realtors says pending home sales continued to plummet in September. Market indicators show a 10.2% month-over-month decline that resulted in an index reading of 79.5. This is the fourth consecutive…