Industry News

Artificial intelligence is transforming the mortgage industry at breakneck speed — but with regulators sidelined, the risks of bias and inequity loom large.

Zillow made claims of harassment in a filing that also showed it offered Compass a “broader national partnership” before announcing its private listing ban.

“There’s no way you need 1,400 employees,” Co-founder and newly appointed board member Keith Rabois told CNBC, adding, “we’re going to return to our roots.”

G. Scott Hurlock is now SVP of strategic growth at Christie’s, while MetroList appointed Brian Groth to serve as its first director of sales and marketing.

NAR and others will need to clean up and resubmit their briefs by Sept. 15. Law professor (and appellant) Tanya Monestier called the ruling a “critical” win.

Kaz Nejatian, the former COO at Shopify, fills the vacancy left by ex-CEO Carrie Wheeler, while Opendoor's co-founders return as board members.

Plus, the BLS makes a significant downward revision to jobs numbers, and the president’s nominee to replace an ex-Fed official advances to a Senate vote.

The appointment of Ethan Glass, lead counsel in the commissions cases, underscores Compass’ “unwavering commitment to seller choice,” CEO Robert Reffkin said.

A new filing seeks a temporary restraining order while a Texas broker’s court battle over NAR and local association membership requirements proceeds.

Gov. Greg Abbott said “foreign adversaries like China, Russian, Iran and North Korea” and terrorist organizations “must not be allowed to own land in Texas.”

Plus, Trump signs trigger leads bill; DOJ investigates mortgage fraud claims linked to a Fed governor; advocacy groups call for a vote on key housing bill.

CoStar sued Zillow in July for allegedly using over 46,000 CoStar-owned images on its website, and says the portal is now trying "to hide its wrongdoing."

Plus, the FHFA approves Rocket’s acquisition of Mr. Cooper; the CFPB proposes new terminology around consumer risk, narrowing its supervision of nonbanks.

If large brokerages go all-in on private listings, they would dominate the market, putting smaller firms “right out of business,” a consumer advocate warns.

The iBuyer’s shares jumped over 85% on Aug. 28 — just a few weeks after Opendoor avoided delisting with some help from activist investors.

A lawyer representing Federal Reserve Governor Lisa Cook said her termination “lacks any factual or legal basis.” She intends to sue to retain her position.

A 20-year technology veteran has joined the company to lead tech strategy and “accelerate innovation.” Meanwhile, Rocket’s president is set to retire.

The FHFA director is seeking an investigation into mortgage fraud allegations. Plus, HUD materials will now be “English only”; Fed considers crypto payments.

Award-winning reporter Andrea V. Brambila is joining our staff, bringing more than 15 years of experience and building on our already strong foundation.

In many major U.S. metros, small-time mom-and-pop flippers are delivering more renovated homes to the market than new home builders, a New Western report found.