Appeals Court Revives Aberdeen Cash Sweep Fight Against Wells Fargo Servicer LNR
A federal appeals court revived Aberdeen Developers’ lawsuit against Wells Fargo and special servicer LNR Partners over a disputed cash‑sweep provision. The dispute stems from a 2021 tenant bankruptcy that triggered a cash‑sweep, diverting excess building income into an account controlled by LNR. Aberdeen argues the cash‑management agreement requires monthly return of surplus funds, while LNR contends it may retain the money as collateral until a cure occurs. The Seventh Circuit held the contract language ambiguous, reversing a dismissal and sending the case back for fact‑finding.
Maine High Court Blocks Receiver-Led Home Sale Before Foreclosure Judgment
The Maine Supreme Judicial Court vacated a trial‑court order that had appointed a receiver to secure, repair, and sell a North Berwick home before a foreclosure judgment was rendered. The case stemmed from Towd Point Mortgage Trust’s 2023 foreclosure action against...
Developer Loses $8 Million Claim Against Oregon City over a Missed Deadline
The Oregon Court of Appeals dismissed Siskiyou Pines Developments' $8.16 million claim against the City of Cave Junction and its engineering contractor after finding the developer missed the statutory 180‑day tort‑claim notice deadline. The developer had sued for delays in final...
Mortgage Rates in the Sixes: The New Normal?
Mortgage rates have settled into a 6%‑7% range, with Freddie Mac’s May 2026 survey showing the 30‑year fixed at 6.53%, the highest since August. Lenders report rapid volatility, citing a half‑point swing in three weeks driven by the Iran war and...
Spring Nudges US Home Prices Back Toward Last Year's Peak
First American’s April 2026 Home Price Index showed a 0.2% month‑over‑month rise, bringing national prices within a hair of the May 2025 peak. Year‑over‑year growth stalled at 0.0% for the eighth straight month, while a March revision lifted that month’s...
California Court Rejects Nonsignatory Firm's Bid to Force Arbitration on Boilerplate
A California Court of Appeal affirmed a lower‑court ruling that barred Professional Business Management Corporation (PBMC) from compelling arbitration in a foreclosure‑rescue lawsuit. The court held that merely labeling PBMC as an "alter ego" of NACA Law in the complaint...
71% of Homeowners Say Insurance Costs Are up, and Exec Warns Buyers Are Being Squeezed Out
A Pew Research survey shows 71% of U.S. homeowners say their home‑insurance costs have risen, with 42% reporting sharp increases. The Zebra’s 2026 report puts the average annual premium at $2,966, a 6% jump from 2025, while Florida tops $9,400....
Mortgage Rate Rebound Dims Spring Affordability Gains
Housing affordability improved 7.8% year‑over‑year in March 2026, helped by lower mortgage rates and faster household‑income growth. The average 30‑year fixed rate rose from 6.05% in February to 6.18% in March and reached 6.51% by late May, trimming the affordability...
Fed Independence Under Threat, Says Former Central Bank Executive
Former Federal Reserve vice chair Donald Kohn warned that political pressure on central‑bank independence is set to intensify as supply‑driven inflation and soaring public debt create fertile ground for interference. Speaking at a Bank of Japan conference, Kohn argued that...
Maine Top Court Unwinds Condo Foreclosure over Due Process Failure
Maine's Supreme Judicial Court overturned a $58,885 condo foreclosure judgment after finding the trial judge denied the unit owner a chance to present her disability‑accommodation claim. The decision also questioned a $36,962 attorney‑fee award that included costs unrelated to the...
As Treasurys Plummet Again, Is Rate Relief on the Way for the Summer?
UWM’s EVP Alex Elezaj says the recent 8‑basis‑point drop in the 10‑year Treasury, now hovering just below 4%, could usher in mortgage‑rate relief later this year. The decline follows hopes that the Iran conflict will ease and that new Fed...
Home Insurance Costs Have Doubled Since 2019 — Is Relief Coming?
Homeowners’ insurance premiums have more than doubled since 2019, reaching an average of $2,205 in 2025. Rate Insurance’s 2026 Home Insurance Trends Report shows premium growth slowed to 9.16% in 2025, the first notable deceleration after near‑20% annual hikes in...
The Magic Number when Nearly 60% of Recent Homebuyers Can Benefit From Refinancing
LendingTree’s latest study finds that 32.5% of homeowners who financed between 2023 and 2025 could save an average of $2,320 per year by refinancing at the current 6.37% rate. If mortgage rates retreat to the 6% threshold, the eligible pool...
Trump Calls for Fed Independence as Warsh Takes the Helm
Kevin Warsh was sworn in as Federal Reserve chair at a White House ceremony, ending a contentious confirmation that split 54‑45 in the Senate—the most divided vote in Fed history. President Donald Trump publicly demanded lower rates while insisting the...
Key Dates that Will Define Kevin Warsh's Opening Months as Fed Chair
Kevin Warsh was sworn in as the Federal Reserve’s 17th chair on May 22, 2026, inheriting a benchmark rate of 3.50%‑3.75% and an inflation rate still above the 2% target. His first FOMC meeting on June 16‑17 will be closely...