The Jupiter home of alleged predatory lender and fraudster Lisa McElhone sold out of receivership for $12.2 million.  The sale is part of a years-long federal case brought against McElhone and her husband, convicted fraudster Joseph LaForte, who was sentenced to 15.5 years in prison for RICO conspir

The cost of owning a home in the U.S. has jumped sharply in recent years, reaching an average of more than $1,700 per month in 2023 — a 17% increase since 2020 — according to an analysis by First American senior economist Sam Williamson.Using the most recent U.S. Census Bureau data, Williamson found

While the Federal Housing Finance Agency (FHFA) under President Joe Biden proposed a transition from a tri-merge to a bi-merge credit report system, the Mortgage Bankers Association (MBA) is now assessing the feasibility of moving to a single credit report for mortgage underwriting.Bob Broeksmit, pr

Miami-based investor Jon Samuel paid $24 million for a shuttered car lot in West Palm Beach that was the former headquarters of a defunct auto dealer.  Three entities managed by Samuel, who leads Miami-based Midtown Group, acquired the 14.7-acre site at 1200 South Congress Avenue, records show. The

The U.S. Department of Housing and Urban Development (HUD) and Ginnie Mae on Friday signed a memorandum of understanding (MOU) with a South Korean housing finance authority, with the goal of increasing investment in U.S. agency mortgage-backed securities.The agreement, signed with the Korea Housing

The cause of the crash wasn’t immediately known and could take months to determine.

Mortgage veteran Glenn Stearns is taking a different approach with his latest venture. Kind Lending, a national wholesale mortgage lender and his second brainchild, is built on lean operations and a focus on efficiency — a contrast with his first company, Stearns Lending, which filed for Chapter 11

Following the release of the president’s fiscal year 2026 “skinny” budget request — and a look at the White House’s performance expectations for the Home Equity Conversion Mortgage (HECM) program — the U.S. Department of Housing and Urban Development (HUD) has released its congressional justificatio

Residential broker Erin Sykes recently reduced the price on a condo she listed at the Regency of Palm Beach, a 60-year-old oceanfront building.  The 1,358-square-foot two-bedroom, two-bathroom condo at 2760 South Ocean Boulevard hit the market in 2023 for $849,000. Now, it’s asking $649,000, after a

An Argentine real estate firm wants to develop a 25-story Live Local Act multifamily tower in Goulds, marking the tallest proposed building in the south Miami-Dade County neighborhood that is home to low-rise housing and shopping plazas.   RCC Developers proposes the 300-unit project with 5,900 squa

Lennar expects to break ground by year-end on 50 townhouses in Wilton Manors and sell them at prices starting above $800,000. The Wilton Manors City Commission unanimously voted Tuesday to approve the development on 5 acres at 1550 Northeast 26th Street, four blocks west of U.S. 1. Before the city a

A federal judge on Thursday blocked an attempt by the Consumer Financial Protection Bureau (CFPB) to reverse a $105,000 settlement with Townstone Financial, a Chicago-based mortgage broker accused of discouraging Black applicants.U.S. District Judge Franklin Valderrama ruled that allowing the CFPB t

The cause of the crash wasn’t immediately known and could take months to determine.

An Air India jet flying from Ahmedabad to London crashed shortly after takeoff into a fireball with 242 people aboard.

Amazon expanded its planned office in Miami’s Wynwood, The Real Deal has learned, re-invigorating a push to turn the neighborhood into a tech mecca.  Jeff Bezos’ Seattle-based e-commerce giant now plans a 75,500-square-foot office at the recently completed 12-story office building at 95 Northwest 29

In a case of island home-hopping, media mogul Cathie Black and her husband, Thomas Harvey, sold their Palm Beach house for $18 million in an off-market deal. The sale closed just days after they bought another home on the island for $12 million.  Records show Black and Harvey sold the 3,600-square-f

An order signed by a magistrate judge in the U.S. District Court for the Southern District of California has established a forward timeline for the ongoing lawsuit between major reverse mortgage industry lenders Mutual of Omaha Mortgage and Longbridge Financial. A trial is scheduled to begin in Nove

Nonqualified mortgage (non-QM) lender Logan Finance Corp. has launched a new set of loan products designed to serve borrowers who fall outside traditional lending requirements.The “Open Road” product series includes seven mortgage offerings tailored to self-employed individuals, real estate investor

Simon Property Group finalized its takeover of a shuttered Sears store at Town Center at Boca Raton in Palm Beach County. An affiliate of Indianapolis-based Simon, led by David Simon, paid $23 million to an affiliate of New York-based Seritage Growth Properties for the 180,029-square-foot big box st

Senior living organizations are often seen by the public as opposing ideas related to aging in place, but one senior living executive says that the industry’s future may lie in facilitating this increasingly common goal.This is according to an interview with Tod Petty, chief marketing officer at Fyn