Items Tagged with 'California'

ARTICLES

  • Gateway Mortgage shuttering California branches, laying off dozens

    Oklahoma lender closing all 8 California retail branches
    Over the course of the year, thousands of people working in the mortgage business have been laid off as rising interest rates drive mortgage originations lower and the economics of the mortgage business become tougher for companies to survive unscathed. Now, Gateway Mortgage Group is joining that list and becoming the latest mortgage company to lay off a number of employees.
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  • Fannie Mae and Freddie Mac issue relief policies in wake of devastating California wildfires

    Victims will be eligible for up to 12 months of mortgage forbearance
    California’s wildfires have ravaged the state, claiming the lives of 44 people and destroying more than 100,000 acres. In response to this threat, Fannie and Freddie are reminding victims that mortgage assistance options are available for those affected by these deadly fires.
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  • California voters decisively defeat rent control effort

    Nearly two-thirds of voters cast ballots against Costa-Hawkins repeal
    In addition to going to the polls Tuesday and picking a new governor, lieutenant governor, a host of new members of the House of Representatives, and re-electing one of their two senators, California voters also soundly defeated a push to increase rent control in the state. While the measure’s supporters surely view the defeat as a setback, an analysis from UBS argues that the proposition losing is actually the best thing for all involved.
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  • Could taxing tech companies fight homelessness?

    Propositions could bring affordability to California's housing market
    Thriving tech hubs often come at a cost and the price might be too high. This November, San Francisco Bay Area voters will decide if large corporations can be taxed to offset issues tech companies have escalated, according to an article from NPR.
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  • Is lack of affordability triggering an exodus from coastal markets?

    Redfin data suggests homeowners are relocating to less expensive inland markets
    As mortgage rates continue to climb in expensive coastal cities, more and more people are migrating to affordable markets, according the latest data from Redfin. Redfin Chief Economist Daryl Fairweather said buyers are increasingly cost-conscious, and seeking more affordable homes in low-tax states in the South and middle of the country.
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  • California's election could bring $6 billion to its affordable housing market

    However, some worry it may increase the taxpayer debt
    As more and more Californians suffer from rising mortgage and interest rates, legislators have introduced many proposals to tackle the housing crisis. This November, Californians will have the chance to vote for propositions that could bring $6 billion to affordable housing statewide, according to an article from The Mercury News.
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  • Fannie Mae identifies new fake employers being used on mortgages

    Five California companies appear to not actually exist
    The number of fake employers showing up on borrowers’ mortgages is growing. Earlier this year, Fannie Mae issued a warning to lenders after identifying more than 30 companies that appeared to be fake that were showing up on borrowers’ mortgage documentation as their place of employment. Now, Fannie Mae is issuing another warning, telling lenders that it has found five more potentially fake employers.
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  • WSJ: California becomes first state to mandate gender-balanced boards

    Gov. Jerry Brown signed the bill into law on Sunday, legal fights ahead for the ambitious diversity bid
    Over the weekend, California became the first state to mandate that publicly held companies based in the state have at least two to three women on their boards of directors. The new law mandates that all publicly traded companies with headquarters in the state to have at least one woman on their boards by the end of next year and that by 2021, companies with at least five board directors will have to include two or three women or face financial penalties.
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  • California's homeless population jumps 13.7% in one year

    California lawmakers introduce proposals to tackle affordable housing crisis
    More American homeowners are struggling to afford their homes, contributing to a growing divide between America’s haves and the have-nots. This lack of affordability has given rise to California's homeless population, which has jumped almost 14% in one year.
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