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Zillow: Over half of our iBuying inventory is on the move
02-12-2021
Zillow said Thursday that more than 50% of its remaining iBuying inventory “has sold, is under contract to sell or has reached agreement on disposition terms.” Also, the company’s board of directors authorized the repurchase up to $750 million in shares of Zillow stock, according to a press release. It marked...
Read moreHow lenders can serve the underserved in 2022
02-12-2021
Our business is changing…again. This time, the industry must respond to new mandates sent down by the new administration in Washington, D.C. President Biden has made it quite clear that lenders will be tasked with providing more affordable housing options to underserved communities. How the industry will accomplish this is...
Read moreTrump comes to the aid of GSE investors
02-12-2021
Former President Donald Trump Fannie Mae and Freddie Mac shareholders hoping to be made whole in Collins v. Yellen have a new champion: former President Donald Trump. In a Nov. 11 letter sent to Kentucky Republican Sen. Rand Paul, Trump wrote that, had he been able, he would have given former Federal...
Read moreHow to avoid a tax bomb when selling your home
02-12-2021
The profit you make when selling a home may be taxable. Here's how sellers can reduce their capital gains tax bill.Read more: https://www.cnbc.com/2021/12/02/how-to-avoid-a-tax-bomb-when-selling-your-home.html
Read moreNonbanks quick to implement 2022 conforming loan limits
02-12-2021
On Tuesday, the Federal Housing Finance Agency revealed the much-anticipated conforming loan limits for 2022, with the baseline number jumping by 18% to $647,200. It’s the largest-ever annual increase in the size of loans eligible to be bought by Fannie Mae and Freddie Mac. The figure, which is determined by a...
Read moreFannie Mae revs up its credit-risk transfer machinery
02-12-2021
Fannie Mae is once again back in the credit-risk transfer market with a $984 million note offering through its Connecticut Avenue Securities real estate mortgage investment conduit, or REMIC. The recent offering, CAS Series 2021-R02, was slated to close this week and involves transferring loan-portfolio risk to private investors via a...
Read moreHousing inventory has never been lower
02-12-2021
It’s official – housing inventory in America is at a crisis level. The number of active listings hit an all-time low during the week ending November 28, according to a Redfin report published on Wednesday. During the four week period ending November 28, the number of active listings was a 23% decrease...
Read moreAiming to buy a home in the next year? Do these 4…
02-12-2021
The market isn't quite as crazy as it once was, but prices remain sky-high, inventory is low and homes are still going fast.Read more: https://www.cnbc.com/2021/12/02/aiming-to-buy-a-home-in-the-next-year-do-these-4-things.html
Read moreThousands could soon lose – or sell – their homes as Covid…
02-12-2021
Hundreds of thousands of homeowners could soon lose or sell their homes as Covid-related mortgage bailout programs expire.Read more: https://www.cnbc.com/2021/12/02/covid-mortgage-bailouts-expire-thousands-could-lose-or-sell-homes.html
Read moreMortgage rates remain flat as Omicron fears spread
02-12-2021
Mortgage rates increased one basis point to 3.11% in the week ending Dec. 2, ignoring the volatility in the financial markets caused by the Omicron Covid variant, according to the latest Freddie Mac PMMS mortgage report. A year ago at this time, the average 30-year fixed-rate loan averaged just 2.71%, according to the...
Read moreShoring up the mortgage underwriter shortfall
02-12-2021
The mortgage industry is contending with a loan-underwriter shortage that has acted like a governor on an engine — slowing the pace of a fast-growing private-label securitization market. The shortage stems from the imbalance created by the robust demand for underwriters in the private-label market set against the relatively stagnant supply...
Read moreBetter.com lays off LOs, secures $750M cash injection
01-12-2021
Better.com founder and CEO Vishal Garg Digital mortgage lender Better.com is laying off 9% of its workforce ahead of a $750 million cash injection from financial backer SoftBank Group. Company officials say the moves will allow refi-heavy Better to increase its strength in a mortgage market that is increasingly becoming purchase-focused...
Read moreClever raises $8M to expand mortgage platform
01-12-2021
Online real estate platform Clever has raised $8 million in a Series B funding round to expand its team and accelerate its mortgage efforts, the company said on Wednesday. The round was led by Cultivation Capital, along with a strategic investment from The Mortgage Collaborative (TMC) Emerging Technology Fund. Since its creation in 2017, the company...
Read moreIntroducing the HousingWire 2021 Tech Trendsetters
01-12-2021
The housing industry has been working in overdrive over the last few years to shed the idea that its technology is antiquated and outdated. In today’s environment, this couldn’t be further from the truth. In fact, companies are not only injecting new technology into the home-buying buying process, but also...
Read moreEx-MBA prez Ronald McCord to pay $52M mortgage fraud penalty
01-12-2021
A federal judge ordered Ronald McCord, the founder of Oklahoma City-based lender and servicer First Mortgage Company, who was also once the president of the Mortgage Bankers Association (MBA), to pay $51.8 million in restitution for mortgage fraud. United States District Judge Robin Cauthron ordered McCord also serve 8.5 years in prison...
Read moreHousingWire Magazine Supplement: December 2021/ January 2022
01-12-2021
Maleesa Smith,Managing Editor, Content Solutions The close of this year and the beginning of 2022 leave me with one question: was 2021 really just 2020 part 2? For the most part, employees continued in a hybrid, if not fully remote, work scenario. We logged on to countless Zoom calls and overused...
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