John Luddy says reverse mortgages are in their best market yet

A mortgage vendor is suing one of its former executives for starting a competing company while employed and soliciting some of its bigger-name customers. Processing Content New Jersey-based Flatworld Mortgage Solutions sued Rajeev Kumar last week in a federal court, accusing its former executive vice president of breaching various employment agreements. Kumar, who claims he…

Rates and unsold inventory keep builders cautious The 30-year fixed-rate mortgage averaged 6.55% for the week ending July 16 up from 6.49% the prior week, according to Freddie Mac‘s Primary Mortgage Market Survey (PMMS). Odeta Kushi of First American says demographic demand and life events continue to support the housing market, even as higher…

USDCAD buyers reverse the declines from yesterday. MA resistance looms above. !“#$%&‘()*+,–./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !“#$%&‘()*+,–./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}

AI-powered lettings business Dwelly has secured £125 million in funding to support its acquisition strategy of independent letting agencies and expand its technology platform across the UK and into European markets. The funding round was co-led by EQT Growth and General Catalyst, comprising $95 million in equity and a further $75 million through an expanded…

Key Points After a strong bullish start, this newly IPO’d stock is underperforming. This weakness isn’t particularly surprising in light of how other, comparable stocks have performed following their public offerings. The near-term odds aren’t promising, but the longer-term statistics aren’t exactly compelling either. 10 stocks we like better than Space Exploration Technologies › Down…

The mayor of San Francisco is tired of his city serving as an autonomous vehicle test track. In a letter sent to California transportation regulators on Wednesday, Daniel Lurie called for new statewide standards governing how autonomous vehicles respond during major disruptions, saying that stricter measures will strengthen the AV industry. “California’s challenge now is…