Compass has successfully become a publicly traded company, but the residential brokerage continues to lose money and it has unclear plans to generate more revenue. In its inaugural earnings call, the eight-year-old, New York City-based brokerage reported Wednesday a net income loss of $212 million in the first quarter of 2021, compared to $133 million […]
Even with historically low levels of inventory, rising mortgage rates and uneven job growth, experts still believe 2021 will be a record year for home sales. How much will be spent on homes? Officials are predicting sale numbers to easily eclipse $1 trillion by years end. Redfin projected $2.53 trillion in home sales this year, […]
Summary List Placement Reopening-fueled inflation has arrived. The Consumer Price Index — a key gauge of nationwide price growth — leaped 0.8% in April, trouncing the median estimate of a 0.2% jump. The increase was the largest since 2009. The index that excludes food and energy prices rose 0.9%, and that was the largest one-month […]
Summary List Placement Scoring a new job at a dream company often involves picking up new skills that’ll make you stand out from the large pool of applicants. However, it can sometimes be tough to know where to start, or which skills are actually worth investing time in learning. To help gain some insight […]
Five years after introducing the Rocket Mortgage brand for digital lending, Rocket Companies will finally retire the legacy Quicken name on July 31. “More than 20 years ago, Dan Gilbert, our founder and chairman, had a vision of putting the entire mortgage process online to simplify the lending experience and add more transparency. Since then, we […]
Compliance attorneys and mortgage industry lobbyists aren’t the only ones wishing the Consumer Financial Protection Bureau (CFPB) would proceed with the General Qualified Mortgage Final Rule as it had initially planned. The same day the CFPB announced plans to delay the compliance date, Sens. Mark Warner (D-VA) and Tim Scott (R-SC) fired off a letter […]
Table of Contents: Masthead StickySummary List Placement Real talk — I’m a soon-to-be journalism graduate and a major bookie, so I’m always on the hunt for books that will offer new perspectives about the emerging profession of news, digital journalism, and reporting. Naturally, I put my reporting skills to work and reached out to 55 […]
Summary List Placement Senate Minority Leader Mitch McConnell had a clear message coming out of his first in-person meeting with President Joe Biden on Wednesday: Don’t mess with the 2017 Republican tax law. The Kentucky Republican ruled out any corporate tax increase in the colossal infrastructure package Biden is seeking, effectively doubling down in his […]
Summary List Placement President Joe Biden remains committed to his goal of getting bipartisan support for his $4 trillion infrastructure proposal, and on Wednesday, those efforts continued in a meeting with Congress’ four most powerful leaders. The “Big Four” leaders in Congress — Speaker of the House Nancy Pelosi, House Minority Leader Kevin McCarthy, Senate Majority […]
Summary List Placement Some workers are leaving retail and restaurant jobs to get away from low pay and difficult customers, and a growing number of openings in the labor market is making it easier to transition to new careers. Restaurants and stores are looking to staff up and return to normal as COVID-19 restrictions lift […]
The International Olympic Committee (IOC) on Wednesday said it supported Japanese measures to counter COVID-19 and was confident the Tokyo Olympics would be a “historic” event, despite wide public opposition. With less than three months to go before the games begin on July 23, Japan is battling a surge in coronavirus infections. A majority of […]
Summary List Placement New polling shows that the vast majority of US adults working remotely feel comfortable returning to their normal workplace, but the latest jobs report shows that the return to normalcy will take longer than expected. Morning Consult has tracked public sentiments about daily life during the pandemic since March 2020. As of […]
Summary List Placement As for many others, my 20s have been a decade of nonstop growth. From learning how to budget and cook to discovering my broader career goals, going to therapy, and slowly figuring out what makes me happy, I’ve leaned on friends and family to help me grapple with the big questions. But, […]
Summary List Placement Sen. Joe Manchin said he won’t back extending the $300 federal unemployment benefit from President Joe Biden’s stimulus, which could possibly torpedo the jobless measure once it expires on Sept. 6. “I’ll never vote for another extension as long as I know that with the vaccines, there’s not an excuse for no […]
It’s been rejection after rejection for Isabel Williams’ client, a military veteran in Port St. Lucie, Florida. Since the client began the search for her dream home earlier this year, her Veterans Affairs mortgage loan offers have been rejected over a dozen times. Williams, the broker-owner of We Save Loans, said her client has all […]
Summary List Placement Prices of common goods in the US climbed faster than forecasted in April as the US economy leaped out of year-long lockdowns. The Consumer Price Index jumped 0.8% last month, the Bureau of Labor Statistics said Wednesday morning. The median estimate from economists surveyed by Bloomberg was for a 0.2% month-over-month gain. […]
Jay-Z, Foo Fighters and the Go-Go’s were elected Wednesday to the Rock & Roll Hall of Fame their first time on the ballot, leading a class that also includes Tina Turner, Carole King and Todd Rundgren. Each will be honored during an induction ceremony in Cleveland on Oct. 30 before what organizers hope is a […]
Summary List Placement Applications have just opened for a $3.2 billion federal initiative to subsidize high-speed internet for low-income households. The Federal Communications Commission (FCC) program offers eligible households discounts of up to $50 a month for broadband service, and up to $75 a month if the household is on Tribal lands. The program, which […]
After weeks of decreases, mortgage applications rose 2.1% for the week ending May 7, 2021, according to the most recent report from the Mortgage Bankers Association. Aiding the jump in mortgage applications was another sub-3% week of mortgage rates, which fell officially to 2.96%. “The decline in rates helped the refinance index reach its highest […]
Summary List Placement The UK economy grew 2.1% in March, considerably more than expected by economists, as business and consumer optimism grew as COVID-19 cases fell and the vaccination drive picked up speed, according to data on Wednesday. The 2.1% month-on-month expansion in gross domestic product was above expectations for growth of 1.3% and was […]
Summary List Placement Alabama Gov. Kay Ivey announced on Monday that the state was halting its participation in federal unemployment benefits starting June 19. “We have announced the end date of our state of emergency, there are no industry shutdowns, and daycares are operating with no restrictions. Vaccinations are available for all adults. Alabama is […]
The number of buyers who locked in mortgage rates for second homes soared 178% year over year in April, marking the 11th straight month of 80%-plus growth, according to a recent Redfin study. Redfin Chief Economist Daryl Fairweather said the numbers are likely exaggerated because demand for second homes dropped 24% year over year in […]
Summary List Placement Last week, Democrats introduced a bill to make the pandemic-era policy of free school lunches for all kids grades K-12 permanent. Now they want to extend the pandemic-era food benefits that apply to college students, as well. On Tuesday, a group of lawmakers, led by Sen. Elizabeth Warren of Massachusetts and Sen. […]
Mortgage credit availability increased by 2.2% in April as mortgage lenders fight for borrowers in an increasingly competitive market. The Mortgage Bankers Association said Tuesday that the Mortgage Credit Availability Index (MCAI) — which uses 100 as a benchmark — increased to 128.1 last month. A decline in the MCAI suggests that lending standards are tightening […]
Summary List Placement The picture of American employment — and unemployment — is a confusing one right now. Some employers say there’s a rampant labor shortage in sectors of the economy such as restaurants, with workers opting to remain on generous unemployment benefits instead of returning to work. The April jobs report on Friday showed […]
Today, U.S. Secretary of Education Miguel Cardona issued the following statement on the confirmation of Cindy Marten as Deputy Secretary of the U.S. Department of Education: details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: Website of U.S. Department of Education
Summary List Placement Last week’s jobs report fell significantly short of expectations, adding just 266,000 jobs to the US economy when economists had predicted 1 million. Small businesses are no exception. The National Federation of Independent Business (NFIB), the nation’s largest small business association, released a report on Tuesday that found that while small business optimism […]
Summary List Placement Wealthy millennials are busy booking tickets and packing their bags. High-income millennials are set to drive the post-pandemic travel boom, according to a new survey from Accenture and TripAdvisor that polled 1,000 Americans. It defined millennial high earners as those raking in at least $100,000 a year. This cohort is most likely […]
The special purpose acquisition company market isn’t dead yet, apparently. SoftBank Group-backed digital lender Better.com plans to make its public debut in the fourth quarter of 2021 via SPAC, in a deal that would value the company at nearly $8 billion, the firm said Tuesday. Better.com, which offers mortgage, real estate, title and homeowner insurance […]
Summary List Placement At the beginning of the pandemic, California Gov. Gavin Newsom predicted his state would end up with a deficit of $54 billion. Instead it has a $75 billion surplus, and that could mean stimulus payments for Californians. On Monday, Newsom announced that California has a $75 billion budget surplus which he plans […]
Summary List Placement Job openings grew to record highs in the US in March amid continued vaccination and fresh stimulus. The data shows businesses reopening along with the country, yet last Friday’s jobs report for April indicated employers have since had trouble filling those jobs. Openings rose to 8.1 million from 7.5 million, according to Job […]
Publicly traded retail mortgage lender Guild Holdings is on the hunt for acquisitions, and it’s found a juicy target in Maine-headquartered retail lender Residential Mortgage Services Holdings. The acquisition of RMS for $196.7 million (3.5x earnings) gives Guild a substantial foothold in the Northeast and a bevy of purchase business. RMS, founded in 1991, has […]
Amid growing pressure on the Hollywood Foreign Press Association from studios, stars and large swaths of the film industry, NBC said Monday that will not air the Golden Globes in 2022, putting in doubt the viability of one of Hollywood’s oldest and most-watched award shows. Criticism of the HFPA, which puts on the Globes […]
The U.S. Department of Education (ED) announced more than $36 billion in emergency grants today provided under the American Rescue Plan (ARP) Act for postsecondary education. These grants will help over 5,000 institutions of higher education (institutions), including HBCUs, TCCUs, and HSIs, provide emergency financial aid to millions of students and ensure learning continues during […]
The parent company of United Wholesale Mortgage reported $860 million in net income during the first quarter of 2021, but there are clear signs that the going has already gotten tough. In total, UWM originated $49.1 billion in closed loan volume in the first quarter, down from the $54.7 billion in the fourth quarter (but […]
Summary List Placement The hacking of a major US oil pipeline Friday is the latest in a string of cyberattacks under federal investigation. The stories read like movie loglines: A reportedly Russia-backed group slowly burrowed its way into US digital infrastructure, gaining access to important government accounts. An unknown cyber-assailant tried to poison a Florida […]
Amid growing pressure on the Hollywood Foreign Press Association from studios, stars and large swaths of the film industry, NBC said Monday that will not air the Golden Globes in 2022, putting in doubt the viability of one of Hollywood’s oldest and most-watched award shows. In a statement, the network said it believes the […]
Lending and services platform Finance of America Inc. announced today the launch of Finance of America Home Improvement, a new business division offering non-mortgage financing options, including renovation loans. Finance of America’s new division offers the “Benji” portal, which gives contractors tools to expand their business. Homeowners can also use it to access financing solutions through […]
Summary List Placement President Joe Biden announced in a speech on Monday that Americans currently receiving unemployment benefits must either take a job that is “suitable” or lose their benefits, encouraging states to reinstate a pre-pandemic policy of requiring people to search for work. “We’re going to make it clear that anyone collecting unemployment who […]
The downward trend of borrowers in forbearance picked up speed in the last week of April, falling 11 basis points to 4.36% of servicers’ portfolio volume, according to the Mortgage Bankers Association. This 10th consecutive week of decreases reflects a faster rate of exits and a steady, low level of new requests. Given forbearance numbers […]
Summary List Placement Companies are gearing up for a spending rebound as the economy emerges from its year-long lockdown, and that’s going to require a whole lot of hiring. But the country added just 266,000 jobs in April, kicking a debate about a “labor shortage” up a notch and suggesting that many unemployed Americans aren’t […]
After more than a year in shutdown brought on by the pandemic, eight Smithsonian Museum facilities in and around Washington are reopening this month. VOA’s Julie Taboh has more. Camera: Mike Burke Produced by: Julie Taboh / Mike Burke details ⇒ BusinessMediaguide.Com portal received this content from this noted web source: VOANews.Com
Summary List Placement Now that President Joe Biden has unveiled both parts of his $4 trillion infrastructure plan, the hard part begins — attempting to get both sides of the aisle on board to pass the massive spending package. Biden’s $2.3 trillion American Jobs Plan and $1.8 trillion American Families Plan include funding for not […]
Summary List Placement As demand for houses as far exceeded housing inventory during the pandemic, the average price of a home soared a record 21% in April compared to the same time last year, according to a Friday report from Redfin, a real estate brokerage. It also found that houses spent an average of 19 […]
Summary List Placement The US Department of Agriculture announced on April 20 that it would extend the pandemic-era free school lunch program through spring of 2022. But some Democrats say that extension isn’t enough, and they want free school meals to be a permanent option to combat child hunger. On Friday, Sens. Bernie Sanders of […]