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People movers: Notarize, RE/MAX and Planet Home Lending

Housing Wire

Planet Home Lending has promoted four people to vice president positions, supporting the company’s continual growth. Michaelene Whyte has been promoted from processing manager of the East to VP, national fulfillment, distributed retail, and has been with Planet Home Lending since October 2018.

Lending 266
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Are existing home sales showing a housing bubble?

Housing Wire

This is evident if one compares the purchase application data from the overheating market of 2002-2005 to the period between 2012-2020. First the rate of growth in no way compares to what we had during the bubble years of 2002-2005. While sales are and will stay elevated compared the COVID-19 lows, the market is not bubbly.

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Wow — 6 million existing home sales! However, context is key with 2020 housing market data

Housing Wire

million until the years 2020-2024 because we would need to start the year with over 737,000 new home sales in order for developers to see the need for that amount of building. This is the big difference between the housing market now and what we saw in 2002-2005, when we saw a lot of speculation going on. higher than a year ago.

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Regions Bank places $1B bet on home renovation market

Housing Wire

Regions Bank is looking to make a big dent in the home improvement lending space , striking a deal to acquire EnerBank USA for $960 million in cash. The Salt Lake City-based lender says it’s worked with over 1 million homeowners since its founding in 2002 and funded $11.6 billion in home improvement projects.

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HUD proposes permanent program for sale of seriously delinquent mortgages 

Housing Wire

Department of Housing and Urban Development (HUD) on Wednesday proposed a new rule that would implement a permanent program to sell seriously delinquent single-family mortgages insured by the Federal Housing Administration (FHA).

Mortgage 328
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LendArch hires Karthik Kumar, TCS’s former head of mortgage

Housing Wire

Kumar was a manager at Standard Chartered Bank from 2002 to 2004. “We intend to change how lending is going to be done fundamentally – behavior, market dynamics, products,” Kumar said. LendArch has a consulting arm to develop a plan for clients, for example, to reduce costs and improve their underwriting.

Mortgage 287
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Dave Stevens on understanding this housing market

Housing Wire

In fact, it was the skills I developed selling loans that helped develop my ability to influence policy leaders and others in industry during my time as Federal Housing Commissioner and as CEO of the Mortgage Bankers Association. The housing market won’t be like this forever.