A group of New York City real estate brokers made $21 million through a series of illegal Airbnb short-term rentals in flagrant violation of the city’s short-term rental laws, the city claims in a new lawsuit. According to the city, Metropolitan Property Group, its owners, and others were repeatedly warned to stop violating the city’s short-term rental laws, but chose to continue to do so, earning more than $21 million in illegal revenue from Airbnb.

Under these circumstances, it can be an intimidating market for both job seekers and employers in the mortgage industry. So how do you reassure potential LOs when recruiting? Many professionals in the industry believe the key for recruiting loan officers is investing in technology that streamlines work to increase both efficiency and LO retention.

Around this time last year, Knock, a real estate startup that buys homes directly from homeowners, unveiled an expansion plan that would see the company grow its business beyond its first market of Atlanta. Since then, the company has indeed expanded and is now operating in five markets, but the company has much bigger plans than that. And now, the company has the money to reach those goals.

Over the last several months, layoffs have hit companies across the housing industry as the industry works to find solid footing in a shifting mortgage market. One company that’s been growing is Mr. Cooper Group, the nonbank formerly known as Nationstar Mortgage. But, layoffs are about to hit Mr. Cooper, too.

Last year lenders struggled under increasing competition and some were even forced to sell or merge with other companies – but Wells Fargo saw an increase in its full year net income. But while its net income might have increased, the bank is not immune to market swings, and its mortgage banking income plummeted.

While the front end of mortgage lending might look good, a look into the back end of operations shows a much different story. Mortgage lending is in desperate need of a technology update.

Last month, Plaid, a technology platform that connects various applications with users’ bank accounts and has a growing presence in the mortgage space, raised $250 million in its Series C funding round that pegged the company with a reported valuation of $2.65 billion. At the time, the company said that it planned to use the money to expand. And now, the company is using much of that money to do just that by acquiring one of its competitors.

In a not-so-surprising announcement Saturday, former secretary of the U.S. Department of Housing and Urban Development Julián Castro announced he is adding his name to what could be a long list of Democrats running for president in 2020.