On Dec. 9, Sterling Bancorp reported in a regulatory filing that its subsidiary, Sterling Bank and Trust FSB, suspended the Advantage Loan program following an audit of the documentation on past loans. The company did not say how long the program would be halted or specify if there were significant problems in the documentation, but stated that its decision was needed so “it could put in place additional systems and controls to ensure the bank’s policies and procedures are followed on loans originated under the program.”Realtor.com finds only two markets have surpassed pandemic-era peaks, while several high-cost metros have erased their gains
The luxury housing correction is proving far from uniform.A new report from Realtor.com found that luxury home values nationally have retained 59% of their pandemic-era appreciation, but the performance gap between markets continues to widen. While some metros have recovered...
Court says lender failed to comply with prior discovery order, imposes attorney-fee sanctions
United Wholesale Mortgage (UWM) has been held in civil contempt and again ordered to produce CEO Mathew Ishbia for deposition in its ongoing “All-In” lawsuit against Atlantic Trust Mortgage Corp., marking a defensive turn in a case UWM itself brought more than two years ago....
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