The appeals court noted that California law allows employees to “make some preparations to compete” with an employer, but the law doesn’t authorize an employee to transfer their loyalty to a competing company.

Pennymac will pay $172.5 million upfront for Cenlar; real estate credit employment declines; GOP senators concerned about NFIP pricing.

Mortgage applications increase, led by refinances; three M&A transactions involving lenders/branches; home price appreciation trends.