A new report from Redfin revealed that condo sales rose 22.7% in October from a year earlier on a seasonally adjusted basis, after seeing a 50% drop in the spring. Single-family home sales grew 23.3% last month. “Condos sales are rebounding because buyers are finding great deals,” said Redfin’s Chief Economist Daryl Fairweather. “Families are […]
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Entries by Lindsay
Though it is unclear why Rhinebeck Bancorp is looking to form Rhinebeck Commercial Bank, other mutual banks have pursued the strategy to work around a state law barring them from working with municipalities. Source: American Banker
The agency finalized a policy allowing companies to submit formal requests for clarification on a regulatory issue. The bureau said it will publish the advisory rulings in the Federal Register. Source: American Banker
The Mortgage Collaborative, an independent cooperative network in the mortgage industry, today announced the launch of TMC Emerging Technology Fund LP, a venture capital program funded by a self-selected segment of TMC members to capture opportunities driven by the rapid pace of technological change in the mortgage sector. Inspired by member suggestions during a CEO […]
We’re selling our condo in a 200 year old house and the inspector noted that the original wide pine floor in the kitchen “squeaked” when you walked on it. He also advised our buyer that the furnace was a certain age, because of the “series date” on the furnace. There were at least 50 other […]
BBVA USA was one of the first U.S. banks to deploy a real-time core system and to purchase a neobank. Here’s what PNC may keep, and what it may jettison, after it acquires the U.S. unit of the Spanish banking giant. Source: American Banker
The regulator issued prohibitions for former credit union employees in Virginia and Connecticut. Source: American Banker
Lenders are worried that the Small Business Administration could use borrower responses to deny forgiveness for many Paycheck Protection Program loans that exceed $2 million. Source: American Banker
The OCC, Federal Reserve and FDIC said that a failure to adequately prepare for the transition away from Libor could undermine banks’ safety and soundness, but also extended the sunset date for many iterations of the interest rate benchmark to July 2023. Source: American Banker
Demand for housing was strong in early 2020, before the COVID-19 crisis hit. Mandated shut-down measures and the fear of what COVID would do to our economy temporarily immobilized the housing market, evinced by nine weeks of declines in the weekly purchase applications data on a year-over-year basis. Then it was as if the Housing Demographic […]
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