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Panorama Mortgage Group Appoints Philip Riccio Chief Financial Officer

Appraisal Buzz

Riccio has been instrumental in overseeing critical functions such as trading, hedging, pricing, and investor relations. Riccio began his career in the mortgage industry in 2002 and has held key leadership roles with several prominent organizations, including Stearns Lending and Caliber Home Loans.

Mortgage 195
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Dominion Financial adds Dustin Wells to head up wholesale division

Housing Wire

Baltimore -based Dominion Financial Services , a nationwide private lender that specializes in financing for real estate investors , announced the hiring of Dustin Wells as the president of its newly launched wholesale lending division. Wells has more than 20 years of experience in the financial services arena.

Lending 429
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Dominion Financial launches third-party origination program for investment properties

Housing Wire

Dominion Financial Services , a Baltimore -based private lender with products tailored to real estate investors , has launched a third-party origination program for mortgage brokers, according to an announcement on Thursday. investors are “finding creative ways“ to acquire and redevelop real estate.

Investing 397
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What will housing credit look like in next recession?

Housing Wire

today and why they’re so different than the period of 2002-2008. However, the current housing market is much different than the credit boom-and-bust cycle of 2002-2008, and it’s vital to understand why. How can we be sure not to make the same mistake that millions of people made by calling for housing to crash in 2020 and 2021?

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Housing inventory falls under 1M again as sales collapse

Housing Wire

This means we don’t have enough housing inventory available because with lending standards back to normal we can’t replicate the credit demand we saw in housing from 2002-2005. I have often said that anytime days on the market are at a teenager level, nothing good will happen. Also, this is what the Federal Reserve wants.

Inventory 541
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New home sales are at risk with rising mortgage rates ?

Housing Wire

Compared to the existing home sales marketplace, it doesn’t have a high cash buyer or investor buyer profile. As you can see below, the new home sales market from 2018-2022 doesn’t look like the housing market we had from 2002-2005. Could you imagine this housing market if we eased lending standards?

Mortgage 505
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What would it take to crash the housing market?

Housing Wire

housing market, and we should never ease lending standards to try to facilitate demand. Lending standards are already liberal enough, so we don’t need to go down that avenue. Late cycle lending is always a risk in the lending industry. Again, what happened in housing from 2002 to 2008? We had a credit boom.