United Wholesale Mortgage CEO Mat Ishbia has set the goal of topping arch-rival Rocket Mortgage by 2024. The second quarter earnings report shows he still has quite a bit of work ahead of him. The wholesale-only lender originated $59 billion
$350 Million ‘Palace on Rails’ Luxury Train Concept Unveiled
French designer Thierry Gaugain, a frequent collaborator with renowned designer Philippe Starck, has unveiled his vision for a “palace on rails.” The $350 million private “G Train” project reimagines the luxury rail travel experience with the modern yacht experience in
We may finally be reaching this seller’s market peak
With houses flying off the market, bidding wars, and supply shortages pausing new construction, house shopping can’t get much crazier. For months, there’s been no sign of things easing up. But now, at long last, there are some signs of
Fannie Mae’s rental payment change worries some
The mortgage industry had mixed feelings about the Federal Housing Finance Agency’s move to count positive rental history in Fannie Mae’s underwriting process. Advocates for affordable housing cheered the move. Lenders appeared to be supportive of the change. But some
HUD and FHFA raise the focus on fair lending
In an interesting announcement last week, HUD and FHFA issued a joint MOU (memorandum of understanding) that enhances efforts to synchronize fair lending policy, enforcement and investigatory activities. This is a rare instance where HUD and the regulator of the
Divvy Homes hits $2 billion valuation after latest funding round
Divvy Homes, the prop-tech startup that buys homes on behalf of renters and guides them to eventual ownership, announced Friday a new round of funding that nearly quadrupled its valuation to $2 billion. Co-led by Tiger Global Management and Caffeinated
The Post-COVID shift: What Amazon and Zillow can’t do
In just a few months’ time, COVID-19 accelerated the digital shift era to forever change the way consumers approach home buying. This tipping point came after several years of rapid technology growth in our industry. In February 2019, we wrote
A leaner, meaner Douglas Elliman?
Douglas Elliman CEO Scott Durkin In May of last year, New York City residential brokerage Douglas Elliman revealed its business was at a crossroads. “Douglas Elliman began to experience a severe decline in closed sales volume in mid-March 2020 and
What will fix the housing market inventory shortage?
The aftermath of the COVID-19 crisis, plus solid housing demographics, has created a genuine problem with housing inventory. Record low inventory has resulted in a hectic housing market with forced bidding becoming typical rather than the exception. One of my
HUD and FHFA join forces on fair housing enforcement
The Department of Housing and Urban Development and the Federal Housing Finance Agency today announced that they will work hand-in-hand to strengthen, coordinate and increase fair housing enforcement of Fannie Mae and Freddie Mac. HUD and the FHFA entered into
Rocket Companies’ plan to transcend mortgage
Rocket Companies CEO Jay Farner Rocket Companies is not content with merely being America’s largest lender. Its ambitions are far outsized, even for a firm with a reputation for taking moonshots. In its quarterly earnings call on Thursday, CEO Jay
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As Housing Prices Rise, Affordability Squeeze is Coming
Rents will be unaffordable in the coming months, while lower monthly costs for buyers are at the mercy of historically low interest rates Go to Source Author: