Top Headlines
Minnesota AG Sues Realtor Over Alleged Predatory Lending and Anti-Muslim Bias
Chadwick Banken alleged offered “significantly worse terms” for Muslim customers. Continue Reading Minnesota AG Sues Realtor Over Alleged Predatory Lending and Anti-Muslim Bias
Real Estate Developer Frank McCourt Leads ‘People’s Bid’ to Acquire TikTok
“The foundation of our digital infrastructure is broken, and it’s time to fix it,” said McCourt. Continue Reading Real Estate Developer Frank McCourt Leads ‘People’s Bid’ to Acquire TikTok
And Yet One More Broker Commission Lawsuit is Filed, This Time in Utah
NAR and about a dozen major brokerages were named as defendants. Continue Reading And Yet One More Broker Commission Lawsuit is Filed, This Time in Utah
Mattamy Homes Purchases 49 Acres for North Carolina Community
The Orlando-headquartered homebuilder Mattamy Homes announced the expansion of its presence in Harnett County, North Carolina, with the purchase of 49 acres that will become the site of the upcoming Cardinal Landing community. The new community will consist of 140...
Rudy Wolfs Named Chief Technology Officer at Anywhere Real Estate
The company also said Melissa McSherry will step down as chief operating officer, effective Feb. 26. Continue Reading Rudy Wolfs Named Chief Technology Officer at Anywhere Real Estate
US new home sales slump to one-year low; 30-yr fixed refinance rate hover at 3.25%
Source: Financial World --- On Wednesday, US Commerce Department data had revealed that the sales of newly built single-family homes faltered to a one-year low last month, as the median prices of newly constructed houses kept climbing in context of a flaming timber...
Nonbank Lenders Are Dominating the Mortgage Market
Source: The Wall Street Journal --- Americans took out more mortgages than ever before in 2020. Most of them didn’t come from banks. Nonbank mortgage lenders in the U.S. issued 68.1% of all mortgages originated in 2020, up from 58.9% in 2019, according to industry...
What salary you need to buy a Portland-area home, according to estimates
Source:Portland Business Journal --- A Portlander needs to earn $86,833 a year to afford a home in the metro area, a number that increased 7.5% since last year, according data from HSH.com. That puts the city at No. 11 among the most-expensive metro areas in the...
For Many Home Buyers, a 5% Down Payment Isn’t Enough
Source:The Wall Street Journal --- Would-be home buyers without big piles of cash are getting left on the sidelines. In the turbocharged housing market, prices are surging and homes on the market are routinely selling for far more than the listing price. Those who...
Think Like an Accountant
Source: Scotsman Guide --- Commercial mortgage underwriting is usually discussed in terms of asset performance, such as rents, occupancy, expenses, valuations and debt loads. But we can’t forget that traditional lenders, especially banks, also are evaluating the...
Is the appraisal process color-blind?
Source: Housing Wire --- Recently, at an event marking the 100th anniversary of the Tulsa Race Massacre, President Biden announced the launch of a new interagency task force to root out what it calls inequity in the appraisal industry. As a candidate, Biden’s campaign...
Mortgage Loans in Forbearance Dips to 4.16 Percent in U.S.
Source: The World Property Journal --- The Mortgage Bankers Association estimates there are 2.1 million homeowners in forbearance plans at the end of May 2021. The Mortgage Bankers Association latest Forbearance and Call Volume Survey revealed that the total number of...
With many Americans house rich, here are the best ways to tap your home for cash
Source: CNBC --- Many Americans are suddenly house rich. On paper, anyway. Soaring home prices have resulted in a record amount of home equity on hand. By the end of last year, roughly 46 million homeowners held a total $7.3 trillion in equity to tap, the largest...
Profit margin decline suggests mortgage bonanza is waning
Source: Housing Wire --- Independent mortgage banks (IMB) and mortgage subsidiaries of chartered banks saw an average net profit of $3,361 on each loan they originated in the first quarter of 2021, down from a reported gain of $3,738 per loan in the fourth quarter of...
Young military families tap veteran benefits to buy homes in a hot real-estate market
Source: CNBC --- Eddie Valdivia, 34 and his wife, Vanessa, 36, workers at the Red Cross, bought their first house last October, right in the middle of the pandemic. It’s a three-bedroom, three-bathroom house on a half-acre in Palmdale, California, about 90 minutes...
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