Sunday, 15 September, 2019

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Tag: Housingwire.


Buckle your seatbelts, California. You may be in for another showdown with the Trump administration. You too, New York and Oregon. When Treasury released its housing finance reform plan a week ago, there was one proposal buried in the middle that didn’t get much attention: curbing Fannie Mae and Freddie Mac multifamily lending in areas that adopt rent control. It Read more…


Public school teachers and faculty in the Portland may be eligible to have half of the down payment on a home paid for them, thanks to the recent partnership of Landed and Multnomah County.  Landed, a homeownership investment startup, first launched in 2015 with the goal of helping educators afford homes in the communities in which they work. With backing from Read more…


Hurricane Dorian ripped its way through the Bahamas, then making its way as a Category 5 hurricane across the U.S. East Coast last week. Now, homeowners are stuck with what’s left of their properties. In light of the natural disaster, Fannie Mae and Freddie Mac have offered homeowners up to 90 days of mortgage forbearance. Forbearance and delinquencies also will not Read more…


About three-quarters of buyers reported finding their homes using their phones, according to a report from the National Association of Realtors. Mobile-phone use differed by generations: about 80% of Millennials, meaning younger than 38 years old, began their search on their phone, while 78% of Gen Xers, meaning 39 to 53, and 68% of Young Boomers, meaning 54 to 63, Read more…


For many Americans, the causal stroll around the neighborhood is an important part of day to day life. But as homebuyers continue to grapple with rising home prices, a new report from Redfin suggests that many are now prioritizing affordability over walkability. According to the company’s data, home-sale prices in car-dependent housing markets across the country increased 4.3% year over year to Read more…


Most Americans would agree Congress seems to be gridlocked. But, there’s at least one exception to the impasse: Hiking fees for mortgages backed by the Veterans Administration. Two months ago, Congress approved a two-year hike in funding fees for VA mortgages to pay for the Blue Water Navy Vietnam Veterans Act, passing on the some of the costs for caring for Read more…


After Live Well Financial unexpectedly imploded in May, many questioned how the seemingly successful forward and reverse mortgage lender could have fallen so far, so fast. Well, now the other shoe has dropped. And it has dropped right on the head of Live Well CEO Michael Hild. Hild, the founder, CEO, and controlling shareholder of Live Well was arrested this Read more…


Although the nation’s employment rate has risen to new highs within the last couple of years, wages haven’t kept pace with home-price growth, leaving many homeowners struggling to afford housing. So, how are these Americans making ends meet? LendingTree’s latest analysis revealed that there is a direct correlation between the rising cost of living and the increasing number of workers per household. “As the cost Read more…


This week, the 30-year, fixed-rate mortgage held steady from one week prior, averaging 3.6%. This rate sits significantly lower than its 2018 average of 4.53%, according to the Freddie Mac Primary Mortgage Market Survey. Freddie Mac Chief Economist Sam Khater said the sound and fury of the financial markets continue to warn of an impending recession, however, the silver lining is that Read more…


Although homebuilder confidence rose one point to 66 in August, market affordability continues to threaten future growth, according to the National Association of Home Builders/Wells Fargo Housing Market Index. “Even as builders report a firm demand for single-family homes, they continue to struggle with rising construction costs stemming from excessive regulations, a chronic shortage of workers and a lack of buildable lots,” NAHB Read more…


The median rent for a Manhattan apartment rose to $3,595 in July, a 5.7% gain from a year earlier, and reached a new high of $3,000 in Brooklyn, up 1.7%, as potential homebuyers waited to see what effect the state’s “mansion tax” would have on New York’s real estate. The number of new leases in Manhattan increased 5.1% to 6,460 Read more…


For the second time in two weeks, one of loanDepot’s top executives is set to leave the company. First, it was Chris Heller, the CEO of mellohome, loanDepot’s attempt to serve as a true one-stop-shop for “buying, financing, and improving homes,” who left loanDepot to join OJO Labs, a real estate technology startup whose flagship product is an AI-based conversational Read more…


The nation’s median rent prices for a one-bedroom and two-bedroom unit rose 1.1% and 0.5% in August. Although San Francisco secured the largest monthly growth rate, Zumper’s National Rent Report indicates it was really New York that experienced the most substantial increase.


The churning of loans backed by the Department of Veterans Affairs has long been a thorn in Ginnie Mae’s side, as the agency has worked for three years to curb abuses by VA lenders. Now, Ginnie taking yet another step to squash abuses, announcing Thursday that it is moving forward with a proposal to remove VA-backed cash-out refinances with high Read more…


Each week, HousingWire interviews financial services experts who can help make sense of the latest headlines, sponsored by our partners at Blend.This week, Kal Elsayed, the President and CEO of Guidance Residential, a faith-based home financing company, explains the importance of working with underserved communities. Additionally, Elsayed discusses the Federal Reserve’s proposed rate cut and the nation’s Millennial homeownership trends.