Real estate news

Real estate news

  • MBA Secondary: Bringing private equity back into the market
    by swheeler@housingwire.com on May 20, 2019 at 5:51 am

    The consensus from the first session of the MBA Secondary conference was that private capital practices today are wholly different than they were pre-crisis, and consumers will be well-served by a greater private-capital presence in the market. In fact, the performance of loans bought by private capital investors since the crisis have performed so well that the standards are probably leaving out a number of worthy borrowers. […]

  • This Week’s Top Stories: Money Laundering and Home Equity Are Now Important Parts of The Canadian...
    by Better Dwelling on May 19, 2019 at 3:57 pm

    Time for your weekly cheat sheet on this week’s top stories. Canadian Real Estate Bank Of Canada Staff Warn Home Equity May Be Concealing Financial Distress Bank of Canada staff have released an analytical note, examining new home equity data and its growth. Stand-alone home equity line of credit (HELOC) debt fell to $63 billion […] The post This Week’s Top Stories: Money Laundering and Home Equity Are Now Important Parts of The Canadian Economy appeared first on Better […]

  • NAR’s Popular Ad Campaign Gets Nod for 3 More Years
    on May 18, 2019 at 5:00 am

    Association directors take actions on Code of Ethics, MLS, and other policies—and approve three more years of national advertising. From the REALTORS® Legislative Meetings & Trade Expo, May 13-18, Washington, D.C. […]

  • WaPo: Prepare for "significant economic consequences" if the mortgage market can't better serve...
    by jguerin@housingwire.com on May 17, 2019 at 9:25 pm

    The mortgage industry has historically underserved people of color, and if it can’t figure out a way to properly address the problem, the economy as a whole will suffer. This from a recent article in The Washington Post co-authored by three prominent industry analysts who enumerate the ways in which Hispanics in particular are being shut out of the housing market and the consequences the nation may face. […]

  • Trump announces in NAR speech that he's lifting steel and aluminum tariffs
    on May 17, 2019 at 9:24 pm

    President Donald Trump used his one-hour speech at the National Association of Realtors convention on Friday to announce the U.S. would be lifting steel and aluminum tariffs on Canada and Mexico. The president also said he fondly recalled his decades in the real estate industry and said he plans to return to it when he’s out of office. […]

  • CFPB claims debt collection firm Forster & Garbus robo-sued thousands on behalf of Citibank,...
    by blane@housingwire.com on May 17, 2019 at 7:14 pm

    During the foreclosure crisis, a number of lenders, servicers, law firms, and others engaged in a practice where employees basically rubber-stamped thousands of foreclosure cases without reviewing any of the relevant details. That practice came to be known as robo-signing. Now, a new lawsuit from the CFPB sheds light on a similar practice that apparently exists within the debt collection industry – let’s call it "robo-suing." […]

  • NAR’s Yun forecast for 2019 housing sales: New homes will drive market gains
    on May 17, 2019 at 5:22 pm

    New home sales probably will reach a 12-year high in 2019, according to Lawrence Yun, chief economist of the National Association of Realtors. Sales of existing homes probably will be flat, he said at NAR’s Legislative Meetings & Trade Expo in Washington D.C. on Thursday. […]

  • Poor credit scores keep Gen Xers from entering the housing market
    on May 17, 2019 at 5:22 pm

    A recent report from LendingTree reveals that although Gen Xers are now in their prime earning years, many are refraining from homeownership due to substantial debt. According to LendingTree’s analysis, 28% of homeowners owe a median of $28,557 in student debt, whereas 27% of renters have a median of $28,203. […]

  • The We Company launches real estate acquisition, management platform
    by cbasile@housingwire.com on May 17, 2019 at 4:36 pm

    The We Company, the parent of shared workspace provider WeWork, announced this week it launched a global real estate acquisition and management platform, ARK. So, instead of paying to rent out space in existing buildings, then turning around and renting that space back out via its co-working spaces, The We Company will use ARK to cut out the middleman and become its own landlord. […]

  • Redfin: Last year's tax reform bill impacted fewer homebuyers than expected
    on May 17, 2019 at 4:35 pm

    A year after implementing a tax reform bill that lowered caps on tax deductions permitted for mortgage payments and state and local taxes, Redfin reports that less than half of homebuyers say it impacted their home searches. […]

  • Government watchdog: Ben Carson's office décor spending spree violated law
    by jguerin@housingwire.com on May 17, 2019 at 4:30 pm

    When Ben Carson assumed his role as HUD secretary, he and his wife Candy set out to bring the office up to standards, shelling out some serious cash – including $31,000 for a dining set – to make that happen. Carson shrugged off the expense as standard for any incoming secretary, but the Government Accountability Office says not so much. […]

  • Craig Phillips, Treasury point person on GSE reform, reportedly stepping down
    by blane@housingwire.com on May 17, 2019 at 3:36 pm

    Craig Phillips, Department of the Treasury Secretary Steven Mnuchin’s top housing advisor and the person tasked with leading the Treasury’s efforts to reform Fannie Mae and Freddie Mac, is reportedly leaving the administration as soon as next month. […]

  • RentCafe: Most American renters are paying less than the national average
    on May 17, 2019 at 3:28 pm

    Although rent prices rose 3% in April, RentCafé indicates two-thirds of America’s cities are renting for less than the national average of $1,436. According to the company’s Apartment Market Report, Texas continues to boast the smallest average rents nationwide. […]

  • Bank of Canada Staff Warn Home Equity May Be Concealing Financial Distress
    by Daniel Wong on May 17, 2019 at 3:16 pm

    Canadian real estate owners may be hiding financial vulnerability using complex debt products. Bank of Canada (BoC) staff published a new analytical note examining new home equity data. The new data gives more insights into home equity borrowing, and how the debt is drawn. Out are traditional HELOCs, held separately from the mortgage. In are […] The post Bank of Canada Staff Warn Home Equity May Be Concealing Financial Distress appeared first on Better Dwelling. […]

  • Scalable subservicing technology fuels LoanCare's growth
    by swheeler@housingwire.com on May 17, 2019 at 3:15 pm

    Over the past three to four years, LoanCare has gone from servicing half a million loans to nearly 1.5 million loans. HousingWire sat down with LoanCare President Dave Worrall to find out what's fueling that growth, and what’s next. […]

  • Condo of the Week: $1.1 million for a freshly renovated Queen East condo with shiny concrete floors
    by Glyn Bowerman on May 17, 2019 at 2:42 pm

    So shiny […]

  • United Wholesale Mortgage hires new senior execs to grow broker channel
    by jguerin@housingwire.com on May 17, 2019 at 2:39 pm

    United Wholesale Mortgage has announced two additions to its executive team to help grow its broker channel, naming Blake Kolo chief business officer and Lee Jelenic chief innovation officer. […]

  • President Trump: Real Estate ‘Is in My Blood’
    on May 17, 2019 at 5:00 am

    His hour-long speech was the first address to REALTORS® by a sitting president in 14 years. From the REALTORS® Legislative Meetings & Trade Expo, May 13-18, Washington, D.C. […]

  • Yun’s Economic Outlook: Who Could Ask for More?
    on May 17, 2019 at 5:00 am

    NAR’s chief economist offers an upbeat assessment with only a few storm clouds, including uneasiness about the U.S. trade disputes with China. From the REALTORS® Legislative Meetings & Trade Expo, May 13-18, Washington, D.C. […]

  • U.S. House Approves Equality Act to Extend LGBT Protections
    on May 17, 2019 at 5:00 am

    Real estate groups, including NAR, applauded the House’s vote Friday to prohibit discrimination on the basis of sexual orientation and gender identity. From the REALTORS® Legislative Meetings & Trade Expo, May 13-18, Washington, D.C. &nbs […]

  • Mortgage Rates Moved Slightly Lower This Week
    on May 17, 2019 at 5:00 am

    “While signals from the financial markets are flashing caution signs, the real economy remains on solid ground with steady job growth … which will drive up home sales this summer,” said Freddie Mac’s chief economist. &nbs […]

  • The Academy of Home Equity in Financial Planning focuses on smart use of housing wealth
    by jguerin@housingwire.com on May 16, 2019 at 9:25 pm

    For some time, a group of academics and financial planning professionals have sought to spread awareness about reverse mortgages and home equity use as the Funding Longevity Task Force. Now, this group has fine-tuned its mission, and it has a new name and a new institution to back it. […]

  • Redfin: April's home-price growth proves the market is heating up
    on May 16, 2019 at 8:25 pm

    In April, the nation's home-sale prices stabilized, rising 2.8% from 2018 levels, according to new data from Redfin. Redfin chief economist Daryl Fairweather said homebuyers should take April's home-price rebound as a cue that the cooldown may be coming to an end. […]

  • Hoosier city beats out Miami and Vegas for hottest U.S. housing market, Zillow says
    on May 16, 2019 at 7:05 pm

    When you think of hot housing markets, cities like Miami, Las Vegas, or Los Angeles might come to mind. Or, other high-priced markets like New York or Boston. The Midwestern city that beat the rest of the U.S. for home price appreciation with a whopping 12% gain from a year earlier might surprise you. […]

  • HousingWire News Podcast: Life’s milestones leveling your credit score? Here’s how you build it...
    on May 16, 2019 at 6:17 pm

    HousingWire Editor-in-Chief Jacob Gaffney interviews Alpa Lally, Experian’s vice president of data business at consumer information services. As an American immigrant, Lally brings listeners a unique perspective from within credit reporting services. […]

  • U.S. Bank unveils digital mortgage experience
    by blane@housingwire.com on May 16, 2019 at 5:26 pm

    U.S. Bank is now the latest in a growing list of mortgage lenders that are digitizing their lending process. This week, the bank unveiled a sweeping new digital mortgage experience that borrowers can use for traditional mortgages, home equity loans, and home equity lines of credit. […]

  • Freddie Mac: Declining mortgage rates boost growth in the refinance market
    on May 16, 2019 at 5:20 pm

    Good news everyone, America's robust economy is still projected to strengthen the nation's housing market throughout 2019, according to Freddie Mac's May Forecast. Additionally, May's outlook also highlights an increase in refinances as mortgage rates continue to fall. […]

  • Ray Civello’s dramatic reinvention of a dated Hoggs Hollow estate
    by Jonathan Forani on May 16, 2019 at 4:55 pm

    The star stylist has created a warmly elegant, light-filled haven for his family […]

  • Trump appointee resigns from CFPB after blog posts spark investigation
    by jguerin@housingwire.com on May 16, 2019 at 4:42 pm

    A senior official at the CFPB whose racially charged blog posts sparked outrage last year is resigning. In an email to colleagues, Eric Blakenstein said he is stepping down from his post to pursue an unnamed opportunity elsewhere, and the news has some on the other side of the aisle cheering. […]

  • U.S. economic growth may be casualty in trade war with China, Fannie Mae says in new forecast
    on May 16, 2019 at 3:39 pm

    Fannie Mae, the largest mortgage financier, boosted its forecast for mortgage rates and lowered its prediction for GDP growth for the remaining quarters this year, citing the tariff war with China as a primary reason. GDP growth in the U.S. will probably be 1.7% for the current quarter, down from the 2.1% growth the mortgage giant predicted last month before negotiations over a trade pact with China veered off-course. […]

  • [Pulse] We must improve the QM standard, and this is why
    on May 16, 2019 at 3:00 pm

    The industry should pay attention to bipartisan legislation that would permit lenders to move away from outdated, static requirements and instead document borrower income and debt through the government-approved methodologies already in place in the GSE guides or the FHA, VA, and USDA handbooks. […]

  • Freddie Mac: Mortgage rates hold steady despite mounting economic tension
    on May 16, 2019 at 2:00 pm

    Despite mounting global economic tension, mortgage interest rates are holding steady, according to the latest Freddie Mac Primary Mortgage Market Survey. However, Freddie Mac Chief Economist Sam Khater said modestly weaker consumer spending and manufacturing data, along with continued jitters around trade policy, caused interest rates to decline throughout the yield curve. […]

  • Vancouver Detached Real Estate Sales Drop To 20 Year Low, Prices Roll Back 3 Years
    by Kaitlin Last on May 16, 2019 at 1:44 pm

    Greater Vancouver detached real estate is still spiraling. Real Estate Board of Greater Vancouver (REBGV) numbers show sales dropped to a 20 year low in April. The decline in sales is combining with a multi-year high for inventory. The result is Greater Vancouver detached prices are now at the lowest level in three years. Greater […] The post Vancouver Detached Real Estate Sales Drop To 20 Year Low, Prices Roll Back 3 Years appeared first on Better Dwelling. […]