13 South Florida residents, including licensed mortgage brokers and attorneys, stand accused of engaging in a $16m mortgage fraud scheme, according to indictments made public this week. The documents, unsealed in a Fort Lauderdale federal court, alleges the defendants bought and sold property in Broward and Palm Beach counties using fraudulent filings to obtain loans.
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The average U.S. rate for a 30-year fixed mortgage fell to 3.33% this week, according to Freddie Mac, as the Federal Reserve’s bond-buying program created demand for securities backed by home loans.
Home equity co-investing pioneer Unison cut almost 50% of its team Friday, and no, this doesn’t mean housing and fintech doom. HousingWire Columnist Julian Hebron explains why.