It is no secret that there is a housing affordability challenge in the U.S. According to the National Association of Realtors’ (NAR) Housing Affordability Index, since spring of last year, a typical family with a median income have not been able to afford a median-priced home. While mortgage rates will likely fall this year, conversations about […]
After attorneys made their cases for both the U.S. government and former Live Well Financial CEO Michael Hild regarding a restitution amount owed to the company’s creditors, a magistrate judge overseeing the issue has recommended that Hild pay more than $46 million. The final amount will be determined by the trial judge. The funds will […]
The U.S. Department of Agriculture (USDA) announced on Friday that it has lowered the interest rates for its single-family housing (SFH) direct home loan programs as of March 1, according to an email update sent out earlier this week. Section 502 SFH Direct rates are now 4.5%, SFH non-program rates are now 5% and Section […]
Kiavi, one of the nation’s largest private lenders for residential real estate investors, closed a $350 million unrated securitization of residential transition loans (RTLs), the company announced on Monday. The loans bundled in the securitization were mostly investment property loans used for fix-and-flip transactions. This securitization marked Kiavi’s 16th such transaction and elevated the company’s […]
By and large, homeowners who are 60 and older love where they live and have a preference to age in place. They may also see the equity in their homes as a “financial reserve” and are generally confident in their retirement plans, but they are far less interested in employing their home equity in retirement. […]
California-based mortgage brokerage Loan Factory was sued by a class of loan originators, who allege that the company used their personal and professional information, without their authorization, on its website in an attempt to drive business. Loan officer Derek Daniel Bobadilla and the class members represented by Johnson & Johnson LLP claimed that they have […]
Last year was a tough one for the Indiana real estate market. “Sales from 2022 to 2023 were down 14%,” Mark Fischer, the CEO of the Indiana Realtors Association, said. “We were up year over year in inventory, but we were at a 25 year low on new listings.” But as the calendar flipped to […]
HousingWire is excited to introduce the winners of the 2024 Finance Leaders award, recognizing the top finance executives in housing who are driving financial performance, expanding margins, improving liquidity and helping their businesses access the capital markets. In its 4th year, 40 honorees were recognized. This year’s Finance Leaders were selected by HousingWire’s selection committee […]
Mortgage trade groups have commended the moves taken by the Federal Housing Finance Agency (FHFA) and the government-sponsored enterprises (GSEs) to address a spike in loan buybacks — the latest being a new electronic notification made available by Fannie Mae. But advocates also say more is needed to improve the loan repurchase process. On Feb. 24, Fannie […]
Compass has added two top New York City agents, Tom Postilio and Mickey Conlon, to its roster, the company announced on Thursday. The pair joined Compass after spending almost nine years at Douglas Elliman, where they were founding members of the sports and entertainment division. Postilio and Conlon are known for their roles on Page […]
Thomas Cangemi is stepping down as president and CEO of New York Community Bancorp (NYCB) following the company’s disclosure of internal control deficiencies and a goodwill impairment of $2.4 billion. Alessandro DiNello, appointed executive chairman of the board on Feb. 6, will replace Cangemi, effective immediately. DiNello was the president and CEO of Flagstar Bancorp, a bank recently […]
In a fiercely competitive market, mortgage originators need to rethink everything to gain market share and become savvy. From leveraging the latest in artificial intelligence (AI) and digital marketing to mastering financial literacy, mortgage and real estate professionals have come together to provide these skills to loan officers in a new book titled, “Rethink Everything: […]
Real estate agents gathered at the Palladium Theater in New York City’s Times Square on Thursday to learn networking and lead generation strategies from some of the nation’s top luxury real estate agents at the Goldbar Live conference. While every real estate professional had their own nuggets of advice to share, one overarching theme was […]
Opendoor and eXp Realty officially launched their new partnership on Thursday, Inman first reported. This integration is making Opendoor cash-offer solutions available to eXp Realty’s nearly 90,000 agents. Last October, the iBuyer announced that it was teaming up with eXp Realty to be the primary cash-offer solution powering eXp’s ExpressOffers platform. With this integration, eXp […]
While the number of new homes rose by 4.2% in the U.S. last year, this was primarily led by a 22% increase in the multifamily sector. Single-family housing permits, meanwhile, slowed in 70% of U.S. metropolitan areas, which could forecast more challenges ahead for an already strained level of supply. This is according to an […]
Editor in Chief Sarah Wheeler sat down with Dan Stewart, founder and CEO of Happy Grasshopper, to talk about the company’s tech strategy in creating content that resonates with consumers. Storytelling is key to the company’s success and Stewart’s own story explains how he stays cool in any market cycle. Turns out being stranded at […]
Shortly after the U.S. Department of Housing and Urban Development (HUD) and the White House announced plans to extend the Federal Financing Bank (FFB) risk-sharing program, two prominent housing associations shared their differing perspectives on the move. In a series of policy announcements designed to address housing supply and affordability, HUD, the U.S. Department of […]
Sahil Chhabra is bringing his 21-agent team, the Chhabra Group, to eXp, as a so-called “mega team,” the brokerage announced on Thursday. Based in Calgary, Alberta, the Chhabra Group was previously affiliated with RE/MAX. Conversations with eXp top producers Justin Havre and Ibrahim Hussein informed Chhabra’s decision. Since joining the real estate industry in 2020 […]
Liberty Reverse Mortgage, a top 10 reverse mortgage lender owned by Ocwen Financial Corp. and its subsidiary PHH Mortgage Corp., allegedly violated California labor laws by failing to provide employees with rest breaks, meal breaks and appropriate compensation for off-the-clock and overtime work, according to a newly filed class-action lawsuit. The suit, filed by former […]
The Federal Housing Finance Agency (FHFA) announced on Thursday that the transition to new credit score requirements is expected to occur in the fourth quarter of 2025, a decision commended by the mortgage industry. That’s when the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac will acquire single-family loans based on the FICO 10T and VantageScore 4.0 credit models, replacing the Classic FICO […]
