How one mortgage fulfillment service increases efficiencies while minimizing risks

29-10-2020

HousingWire recently spoke with Brian Simon, president of Trelix Mortgage Fulfillment Services, about how Trelix helps its clients work more efficiently while still maintaining compliance and performing due diligence. HousingWire: What sets Trelix apart from other mortgage fulfillment services? Brian Simon: Trelix offers exceptional products and teams of professionals that help...

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Realogy reports $1.9 billion in revenue in Q3

29-10-2020

Realogy Holdings Corp. released its third-quarter earnings report on Thursday, revealing revenue of $1.9 billion, an increase of 20% year over year, or $307 million. In Q2 the company reported a revenue of $1.2 billion for the three months ended June 30. The Madison, New Jersey-based company also reported a net...

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FHFA’s Strategic Plan prepares Fannie and Freddie to leave conservatorship

29-10-2020

The Federal Housing Finance Agency released its strategic plan for fiscal years 2021 – 2024 on Tuesday, which aimed to establish new goals for its sanctioned duties, including a responsible ending to the conservatorship of Fannie Mae and Freddie Mac. Though no timeline has been established, a statement by FHFA director...

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What could the spring 2021 housing market have in store?

29-10-2020

Many families were caught financially unprepared with the sudden onset of the pandemic.  What seemed foreign and far away became domestic and close to home. The World Health Organization declared a global pandemic on March 11, and President Donald Trump announced a national emergency on March 13. Shelter-in-place directives proliferated...

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Earnings for apartment owners show the pain of urban flight

29-10-2020

Decidedly weak quarterly earnings reports from major apartment REITs this week paint a bleak picture for some of the largest urban rental markets.Read more: https://www.cnbc.com/2020/10/29/earnings-for-apartment-owners-show-the-pain-of-urban-flight-.html

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Pending home sales fell in September, but annual gain is the important…

29-10-2020

Today the National Association of Realtors reported pending home sales are up 20.5% year over year — and that is the only headline that you should care about. This is one more data point showing that housing data has gone wild to the upside, so we should expect some downward...

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Zillow Offers cuts 80 jobs, cites realignment

29-10-2020

Zillow Offers, the iBuying arm of Zillow Group, has cut approximately 80 jobs in a realignment, the company confirmed to HousingWire. The affected employees were informed earlier this month. The cuts included mostly field positions and a few back-end control positions. The field positions included those who evaluated homes, maintained homes...

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Freddie Mac posts net income of $2.5 billion in third quarter

29-10-2020

Freddie Mac net income rose to $2.5 billion in the third quarter of 2020, up from $1.5 billion in the second quarter. Freddie Mac’s bigger sister GSE Fannie Mae earned $4.2 billion in the third quarter. “The company delivered strong earnings on higher revenues, substantially increasing our total equity by...

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There was a surprise drop in September home sales as buyers were…

29-10-2020

Potential homebuyers may be hitting the limit of what they can afford. Pending home sales fell 2.2% in September compared with August.Read more: https://www.cnbc.com/2020/10/29/surprise-drop-in-september-home-sales-as-buyers-get-priced-out.html

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Mortgage rates remain steady, rise to 2.81%

29-10-2020

The average U.S. mortgage rate for a 30-year fixed loan remained steady this week, gaining one basis point to 2.81%, Freddie Mac said in a report on Thursday. The average fixed rate for a 15-year mortgage was 2.32%, falling from last week’s 2.33%. After this week’s dip, there have now been 14 consecutive weeks when...

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With markets in turmoil, Caliber and AmeriHome delay IPOs

29-10-2020

On the day that the Dow Jones Industrial Average dropped 943 points, Caliber Home Loans made the decision to delay its initial public offering (IPO). And AmeriHome has reportedly done the same. “Caliber will continue to evaluate the timing for the proposed offering as market conditions develop,” the company said...

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Fannie Mae nearly doubles net income in Q3

29-10-2020

Fannie Mae reported a net income of $4.2 billion in the third quarter of 2020, up from its net income of $2.5 billion in the second quarter of this year. In the second quarter, Fannie Mae’s earnings fell 26% as fee revenue declined during the slowing pandemic months. However, as the...

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Zillow: Pandemic uncertainty is keeping 34% of home sellers out of the…

28-10-2020

Hesitant home sellers could be one reason there is such low housing inventory, according to a report from Zillow. Thirty-four percent of would-be home sellers said they are staying out of the market due to the uncertainty caused by COVID-19. That uncertainty includes financial anxiety, which is keeping 31% of...

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CoreLogic confirms it is entertaining offers to sell at or above $80…

28-10-2020

After months of fending off an unsolicited takeover bid by two of its significant investors, CoreLogic today confirmed that it is looking for a buyer. “In light of recent market speculation, CoreLogic today confirmed it is engaging with third parties indicating preliminary interest based on public information in the potential acquisition...

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How COVID-19 has impacted NextGen homebuyers: Key findings from a recent study

28-10-2020

Millennials have not had the best luck when it comes to the economy. As the generation that graduated with record amounts of student loan debt and a poor job market, it’s no surprise that they have also been hit the hardest financially by the pandemic. According to a survey by...

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Ex-Zillow execs raise $40M in seed round for mysterious digital mortgage startup

28-10-2020

Tomo Networks, a Connecticut-based digital mortgage startup, just picked up $40 million in a seed round as it mobilizes to build a compelling product in an increasingly crowded market.  Founded by ex-Zillow executives Carey Armstrong and Greg Schwartz, Tomo says it will offer a platform to streamline home buying for both...

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Real estate fintech CoreLogic receives multiple potential bids at more than $80…

28-10-2020

Property data and analytics firm CoreLogic has received multiple takeover bids at north of $80 a share.Read more: https://www.cnbc.com/2020/10/28/real-estate-fintech-corelogic-receives-multiple-bids-at-more-than-80-a-share-sources-say.html

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