Housing Market Moderation Gives Buyers Breathing Room
Inventory rises as the typically slower winter season approaches Go to Source Author:
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Baby Boomers and Millennials Are Competing for Homes, and Boomers Are Winning
Young people make up a smaller share of recent home buyers than in previous years, indicating there is still much pent-up demand from millennial households Go to Source Author:
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PNC Bank breached COVID-19 payment deferral agreement: suit
PNC Bank allegedly breached Fannie Mae’s COVID-19 payment deferral agreement by continuing to charge homeowners who opted for the home retention option for past-due monthly principal and interest payments. A national class action-seeking lawsuit filed in Maryland federal court claims
New Residential scoops up fix-and-flip lender
New Residential Investment Corp. announced Monday that it has entered into a definitive agreement to buy Genesis Capital LLC, a fix-and-flip lender, from Goldman Sachs. New Residential said that it expects Genesis to originate close to $2 billion of loans
Lenders are courting self-employed borrowers again
Mortgage credit availability increased for the third consecutive month in September, but is still 30% below the pre-pandemic level, according to a report released Tuesday by the Mortgage Bankers Association (MBA). Much of the growth in credit availability has come
CRMLS relaunches “submit offer” feature
California Regional MLS announced the relaunch of their integrated “submit offer” feature on Tuesday. CRMLS, the country’s largest MLS, services more than 110,000 real estate professionals in southern California. The relaunch comes in response to demand for the feature from
Redwood Trust plants flag in the massive home equity market
Redwood Trust CEO Christopher Abate laid out a bold vision of growth for the real estate investment trust at an investor conference in New York City last month. Part of that vision included finding ways to tap into the nation’s
How lenders can work more efficiently in a tight profit margin environment
As the refi boom declines – taking the intense production volume of 2020 and early 2021 with it – and we move to a more purchase-heavy market, lenders are seeing a decline in profit margins and an increase in origination
Forbearance declines at the fastest pace in a year
Servicers’ forbearance portfolio volume declined at the fastest rate in a year, as mortgage holders exit COVID-19 plans, according to the Mortgage Bankers Association (MBA). Exits are expected to pick up the pace in the weeks ahead due to economic improvement. The total
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Old National Bank sued for alleged redlining practices
The largest depository bank in Indiana, Old National Bank, is being sued for alleged redlining practices that spanned more than a decade. A lawsuit filed by the Fair Housing Center of Central Indiana in district court claims that Old National
Housing affordability improves for second straight month
For the second month in a row, national housing affordability improved in August, according to the latest National Association of Realtors housing affordability index report. This improvement came as monthly mortgage payments fell by 1.1% while median family income fell
Nearly 14 million homes at risk of flooding in next 30 years
Changing environmental conditions will put 13.6 million residential properties at risk of flooding in 2051, an increase of 1.2 million over the next 30 years, according to a report published Monday by the nonprofit group First Street Foundation. The survey