Washington state regulator hits West Capital Lending with $75K penalty

Regulators in Washington state have fined West Capital Lending Inc. (WCL) $75,000 after alleging the mortgage lender committed multiple violations of the state’s Consumer Loan Act, including allowing unlicensed individuals to conduct mortgage-related activities and failing to meet certain disclosure
Read MoreAmerica’s accidental landlords: The hidden consequence of the mortgage lock-in effect

For the past several years, the real estate industry has talked about the mortgage-rate lock-in effect mostly as an inventory problem. That is understandable. When a homeowner has a 3% or 4% mortgage, and today’s replacement mortgage is in the mid-6% range, selling can feel financially irrational. F
Read MoreGaining that local edge to outperform competition amid market consolidation

The fight for market share in real estate has never been more intense. National portals, institutional investors and well-funded disruptors are all competing for the same buyers and sellers, pushing many brokerages to believe they need to spend more to keep up. But independent brokerages won’t win b
Read MoreNew York City posts notice of new tax levy to pied-a-terre owners

Tax attorneys and accountants are about to make bank helping owners of non-primary homes navigate New York City’s pied-à-terre tax notifications, which started landing in mailboxes before the weekend. “If you have a second home in New York City worth more than $5 (million), check your mailbox when y
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