During the Great Recession, “zombie foreclosures” were a thorn in the side of servicers. With no money to pay their mortgages, some underwater borrowers simply abandoned their homes. When the Covid-19 pandemic began in March 2020, zombie foreclosures were one
First Apartment Checklist: What to Buy First to Complete Your Home
Whether you’re starting a new job in your hometown of Nashville, TN or getting a fresh start across the country in Portland, OR, moving into your first apartment is an exciting milestone in life. There’s something surreal about sitting in
Housing Market Predictions 2022: Will it Crash Soon?
Let us discuss the most talked-about housing market predictions for 2022. Here are some educated guesses as to what the future of the US housing market will look like based on what real estate pros are saying. The housing market has
What is a Solarium vs Sunroom?
Whether you’re looking to soak in as much daylight in your backyard in Tampa, FL, or enjoying your coffee on a rainy day in Seattle, WA, solariums can be a unique and gorgeous addition to your home. However, is a
Tomo raises $40M Series A, hits $640M valuation
Tomo, a fintech startup focused on the purchase mortgage sector, announced raising a $40 million Series A led by SVB Capital, according to a press release shared with FinLedger. The fundraise more than doubles Tomo’s valuation to $640 million. It
How to Find a Good Roommate in a New City
Moving to a new city is exciting, however, finding roommates who are responsible, easy to live with, and share similar interests can be difficult. Finding someone that checks off most of your boxes is something to prioritize from the beginning
What is a Walk-Up Apartment? The Pros and Cons
A walk-up apartment is just one of the many different apartments out there. These apartments have been around for centuries and were a very popular option for renters before elevators. Although not the most convenient, it’s a great choice for
What Every Seller Needs to Know
Three things to keep top of mind as you’re making your list of projects to tackle this year.
3 questions lenders should ask before implementing non-QM
With refinance volumes anticipated to decrease by 62% this year and many originatorsexperiencing layoffs, lenders are looking for a way to diversify their offerings with non-QM products and gain new business in order to maintain profits. “I think non-QM could
FHFA wraps up enterprise regulatory capital framework tweaks
The Federal Housing Finance Agency (FHFA) on Friday finalized proposed changes to the enterprise regulatory capital framework. The amendments replace the fixed prescribed leverage buffer amount — currently 1.5% of an enterprise’s adjusted total assets — with a dynamic buffer
How Much Does it Cost to Stage a House?
The day has come – you’re ready to list your home for sale, watch the offers roll in, and move into your next home. But before you put your house on the market, consider staging your home. A staged house
Boston Housing Market: Prices | Trends | Forecasts 2022
The Greater Boston housing market is hot with rising prices as we enter 2022. The sky-high prices, combined with a historic scarcity of housing supply in this region, reflect a sizzling seller’s market. But we are starting to see some
UWM sues two more broker shops for working with Rocket & Fairway
United Wholesale Mortgage (UWM) just sued two more broker shops that allegedly violated its controversial broker agreement by sending loans to rivals Rocket Mortgage and Fairway Independent Mortgage. The Pontiac-based wholesale lender filed two lawsuits on Wednesday in Michigan federal
CFPB weighs rulemaking on algorithmic bias in valuation models
CFPB Director Rohit Chopra The Consumer Financial Protection Bureau (CFPB) announced Wednesday that it may propose a rule to regulate the use of automated valuation models (AVMs) by lenders and appraisers. The government watchdog is concerned that automated valuation models
What are you wearing to the Offerpad profitability party?
Offerpad CEO Brian Bair Get out the streamers and kazoos and start preparing the hors d’oeuvres – an iBuying company has reported a year’s worth of profitability. Offerpad Solutions generated $6.5 million for the year 2021, company CEO, chairman and
Waters demands investigation following racist appraiser email
An appraiser who wrote a racist email to a researcher has received a response — but not likely the one he wanted. In an emailed tirade, appraiser Dave LaVigne lambasted appraisal bias researcher Elizabeth Korver-Glenn for her research on appraisal
Here’s how to proactively maintain fair lending
HousingWire recently spoke with Amanda Phillips, ACES Quality Management’s EVP of Compliance, about the current compliance landscape with CFPB updates and how lenders can ensure they’re compliant with fair lending and fair servicing. HousingWire: How does Fair Lending affect
The legal battle between REX Homes and NAR heats up
Discount brokerage REX Homes (Real Estate Exchange, Inc.) filed a motion on Thursday in federal district court in Seattle challenging the legality of the National Association of Realtors’ claims that REX pushes false advertising, which the trade group alleged in
CoStar downplays employee attrition, readies resi war chest
CoStar continues to grow and make money, and if you don’t like it – tough. “Like any company we have people who decide the demands of the environment are not for them and that’s fine,” said Andy Florance, CoStar’s CEO,
Interest in refis sinks even further
Mortgage applications decreased 13.1% for the week ending Feb. 18 to the lowest level since December 2019, as mortgage rates eclipsed the 4% mark. The Mortgage Bankers Association‘s seasonally adjusted refi index fell 15.6% from the previous week, bringing its
Home prices skyrocketed in December
The S&P CoreLogic Case-Shiller 20-city price index posted a 18.6% year-over-year gain in December, up marginally from 18.3% the previous month. The index increased 1.5% from November 2021. The national home price index showed similar helium, with an 18.8% growth rate between
Regulators show united front on targeted lending programs
Federal finance and housing regulators today issued a statement to assure lenders they are on the same page when it comes to special purpose credit programs. The missive from the Federal Reserve, the Federal Deposit Insurance Corporation, the Office of
Home Energy Audit Checklist
We have so many ways to measure the efficiency of our work, our cars, and other areas of our lives. But how do you measure the efficiency of your home? The answer is simple: a home energy audit. Although it
What should lenders look for in servicing solutions?
With rising interest rates and compressed margins, many lenders are looking totheir servicing business to grow revenue. However, working with borrowers exitingforbearance programs adds another layer to an already complex process whichcould raise costs. Lenders who want to thread the