Pennymac posts Q3 profit of $181M, fueled by servicing strength

PennyMac Financial Services Inc. disclosed its third-quarter 2025 earnings on Wednesday, highlighted by a profit of $181.5 million from July through September — a figure that represented 33% growth from the prior quarter and 162% growth from the same period last year. The California-based mortgage l

REcore sues CoStar and Homes.com over alleged breach of contract

CoStar Group has found itself on the defendant side of a lawsuit. On Tuesday, REcore Solutions, a vendor providing licensing services for California Regional MLS (CRMLS), as well as other MLSs across the country, filed a lawsuit against the Andy Florance-helmed firm, over alleged breach of contract.

eXp Luxury unveils division for high-profile clients

eXp Realty has unveiled eXp Sports & Entertainment — a new division within eXp Luxury aimed at serving professional athletes, entertainers and other high-profile clients. The announcement was made Tuesday during eXpCon Miami, the brokerage’s annual real estate conference. eXp Sports & Entertainment

eXp Realty launches AI assistant ‘Mira,’ AI training program

eXp Realty has announced the launch of two major artificial intelligence (AI) initiatives; Mira, a new AI-powered business assistant — and the eXp University AI Accelerator Series, an eight-week program aimed at helping agents learn to integrate AI and automation. Unveiled Tuesday at eXpCon Miami, M

Mortgage rates dip slightly, staying near 2025 lows ahead of CPI report

Mortgage rates have edged slightly lower over the past few days, hovering near year-to-date lows as markets weigh the ongoing government shutdown and await key inflation data later this week. “Rates have been fairly flat the last week and a half; the shutdown really hasn’t — at least as far as the m

Compass launches Buyer Demand tool to help agents price homes

Compass is adding another feature to its suite of agent technology tools. On Tuesday, the Robert Reffkin-helmed firm announced the launch of Buyer Demand. Buyer Demand enables Compass agents and their home seller clients to see the number of serious buyers in Compass’s network who are searching for

Trade groups push plan to let GSEs buy MBS to ease mortgage rates

Trade groups representing community banks and home lenders are urging the Trump administration to allow Fannie Mae and Freddie Mac to purchase mortgage-backed securities (MBS) to help bring down mortgage rates.  The idea relies on amending the Preferred Stock Purchase Agreements (PSPA) to enable the

Why more homeowners are listing without agents — and regretting it

Selling a home has become a more complex decision as online platforms offer new ways to bypass real estate agents. According to a new Clever Offers survey, 42% of sellers said market conditions influenced how they sold their home, and many chose alternative routes such as cash buyers, iBuyers or for

It’s up to MLSs to decide if the Zillow-ChatGPT integration violates IDX policies

The National Association of Realtors (NAR) has weighed in on the ongoing debate over whether or not Zillow’s app integration with OpenAI’s ChatGPT violates MLS IDX policies.  In a statement issued on Tuesday, NAR said that when it comes to enforcement, “each MLS is individually responsible for condu

Mark Spain Real Estate names new CEO; Spain transitions to executive chairman

After a nearly year-long search, Mark Spain Real Estate has finally found its new CEO. On Tuesday, the firm said it was naming David Zanaty as its new leader.  The company said that this marks a “pivotal moment for the firm as it enters a new phase of growth, building upon the strong foundation and

Stop leaving deals on the table: how lenders can use DPA to win the “missing middle”

We have known each other for years and frequently appear on the same panel or podcast. Recently, Mosi has made some points to address some of the challenges of down payment assistance (DPA) programs, and we wanted to share and build on those thoughts because they are major shifts we feel the industr

What the latest mortgage data tells us about home sales in 2026

The average interest rate on all outstanding mortgages in the U.S. is now 4.3%. You might be surprised to learn that by the end of the year, the average rate will be higher than the levels of Q1 2020, before the pandemic boom. For the average American mortgage holder, the incredible gains of the pan

Younger homeowners seek to redefine property ownership

Over the next two decades, roughly $124 trillion will move from baby boomers to younger generations, according to Cerulli Associates. For many millennials — amid climate anxiety and financial uncertainty — that inheritance is prompting a new question; what should ownership mean? In Norwalk, Conn., A

TransUnion pushes back on single-pull mortgage credit proposal

Credit bureau TransUnion is pushing back against the idea of replacing the current tri-merge mortgage credit model with a single credit pull, arguing that the shift would increase systemic risk and restrict access to credit. The conclusion comes from a TransUnion study released during the Mortgage B

6 best online real estate schools in California for 2025

Looking to launch a real estate career in 2025? We’ve pinpointed the best online real estate schools in California for every budget, weekly schedule and timeline — with podcast-style audio lessons, mobile phone apps, and courses for every learning style. California requires 135 hours of prelicensing

Zillow pulls Matterport tours from its listings

As tensions between CoStar Group and Zillow continue to heat up, Zillow has claimed that CoStar did not renew its Matterport API agreement.  CoStar closed its $1.6 billion acquisition of Matterport in March, meaning that it would be up to CoStar to decide if it wanted to renew the API agreement with

South Florida boutique brokerage Galleria International Realty joins Compass

Compass’s market share in South Florida is growing. On Monday, Galleria International Realty announced that it is joining Compass.  According to Compass, the Fort Lauderdale-based firm’s team has over 100 years of combined experience and has recorded over $2 billion in combined career sales.  “Bring

Former economic leaders Cohn and Summers warn on U.S. fiscal path

Top former U.S. economic leaders, Gary Cohn and Lawrence Summers, raised red flags about the nation’s fiscal trajectory, the challenges of balancing monetary policy and the global context of U.S. debt. However, they Summers says economy is “remarkably resilient.” Speaking at the 2025 Mortgage Banker

Down payments have leveled off as the housing market cools

Down payments stayed largely unchanged in the third quarter of 2025 as homebuyers balanced high prices with slowing demand, according to Realtor.com’s newest Down Payment Report. The typical down payment was $30,400 — about $500 more than the previous quarter and roughly flat from a year earlier. Bu

Homeownership dreams clash with retirement goals for Millennial investors

A new study from the Nationwide Retirement Institute found that 58% of Millennial investors feel they have to choose between homeownership and retirement security as housing prices continue to rise faster than wages.  “Millennials are navigating their prime earnings years in a financial landscape ma