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Real Estate News
Rocket Pro TPO redesigns pricing calculator for brokers
22-10-2021
In the face of a serious housing shortage, exceptional service from brokers is more important than ever. With forced bidding becoming the new norm, top brokers understand the importance of providing loan pricing with speed and certainty. Purchase originations demand more of brokers’ resources than a refinance. There are many more...
Read moreHW+ Member Spotlight: Karen Mayfield
22-10-2021
This week’s HW+ spotlight features Karen Mayfield, head of National Retail Sales at Wyndham Capital Mortgage. In her role, Mayfield is tasked with expanding on the company’s digital roots into the retail mortgage environment. With more than two decades in the industry, Mayfield most recently served as a division lending executive at...
Read moreCharlie Oppler: DOJ needs to honor agreement with NAR
22-10-2021
You should be able to count on the Department of Justice (DOJ) to honor an agreement. And yet, in a complete breach of commitment and legal precedent, the DOJ backed out of an agreement with the National Association of Realtors (NAR) that would more explicitly state the spirit and intent of...
Read moreRecruiting the next generation of appraisers
22-10-2021
The appraisal industry’s lack of diversity — in terms of age, gender and ethnicity — and the growing number of appraisers exiting the profession as they reach retirement age have been well-documented issues. But now that the industry is keenly aware of these problems, what can be done to turn...
Read moreDOJ, OCC, CFPB pledge to combat “modern-day redlining”
22-10-2021
Attorney General Merrick Garland The Department of Justice, the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau are teaming up in a new initiative to combat redlining. The Civil Division of the DOJ will partner with U.S. Attorneys offices in its “most aggressive and coordinated effort”...
Read moreUpEquity raises $50M, hopes to originate $1B in next year
22-10-2021
Austin-based mortgage tech platform UpEquity raised $50 million in a Series B funding round led by the venture capital firm S3 Ventures. The funding will support the company’s growth as UpEquity forecasts more than $1 billion in originations over the next 12 months. The funding consists of $20 million in equity...
Read moreBuying a home is a goal for many Americans. How this bank…
22-10-2021
Bank of America has established a $15 billion initiative to help Americans buy homes. So far, the company says it has helped 29,000 people reach that goal.Read more: https://www.cnbc.com/2021/10/22/how-bank-of-america-is-helping-people-become-first-time-homeowners.html
Read moreInvestors are buying more, but spending less
22-10-2021
Real estate investors are buying more properties, but paying less for them, according to a report from RealtyTrac released Thursday based on ATTOM Data Solutions home sales data. In the second quarter of 2021, investor purchases accounted for 15.4% of all home purchases nationwide, compared with 11.5% of all home purchases...
Read moreHousing groups to FHFA: Hit pause on Duty to Serve plan
22-10-2021
Twenty affordable housing groups teamed up to tell the Federal Housing Finance Agency (FHFA) its requirements for the government sponsored enterprises to support manufactured and rural housing, and preserve affordable housing don’t make the grade. The coalition, dubbed the “Underserved Mortgage Markets Coalition,” includes the Center for Community Progress, the National...
Read moreRising mortgage rates could trigger more private label deals
22-10-2021
The private label securitization market so far this year has been dominated by mortgages originated primarily by nonbanks, but there is a growing pipeline of mortgages now held in bank portfolios that might provide a rocket-like boost to the nonagency market in the months ahead if interest rates continue to...
Read moreChina may be moving toward easy monetary policy, but it will have…
22-10-2021
China's central bank is poised to move carefully toward easing monetary policy, even as the U.S. is on its way to tightening policy.Read more: https://www.cnbc.com/2021/10/22/china-may-move-toward-easy-monetary-policy-but-must-tread-carefully.html
Read moreCFPB orders ‘Big Tech’ to turn over payment system plans
21-10-2021
The Consumer Financial Protection Bureau (CFPB) issued a series of orders Thursday that will require large tech companies to hand over information on their payments systems to better understand how these firms manage and access users personal data. “Big Tech companies are eagerly expanding their empires to gain greater control and insight...
Read moreExisting home sales crush the housing bears — again
21-10-2021
The National Association of Realtors‘ existing home sales report for September came in at an excellent beat of estimates at 6.29 million. Now that we are just 10 days away from Halloween in 2021, we can all chuckle a bit at how wrong the housing bears of 2020-2021 have been. Especially...
Read moreAAG Survey: 92% of Seniors Want to Age in Place, Majority See…
21-10-2021
An overwhelming majority of surveyed seniors revealed that they would prefer to age in place in their current home, as opposed to moving into some kind of an assisted living facility. This is according to a new “Importance of Home” survey released this week by American Advisors Group (AAG), the...
Read moreExisting-home sales rebound in September
21-10-2021
Existing-home sales rose 7.0% in September after waning in August, according to a new report National Association of Realtors released Thursday. Despite this increase, sales of existing homes are still down 2.3% from a year ago. “The gain in existing home-sales in September reflects contracts signed earlier in the summer,” Mike...
Read moreClimate migration driving more buyers to Burlington, VT
21-10-2021
With stunning lake views, easy access to world class ski resorts, a pedestrian-friendly downtown bustling with shops and restaurants, and the vibrancy of a college town, Burlington, Vermont has long been a sought-after destination for homebuyers. As the COVID-19 pandemic has opened the possibilities of working remotely, more and more...
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