Housing Wire

NOVEMBER 10, 2023

And that offers an incredible opportunity for banks and non-banks alike to improve their digital channels to better support home equity lending. Home equity line of credit (HELOC) and home equity loan originations increased 50% in 2022 compared to two years earlier, according to the Mortgage Bankers Association ’s Home Equity Lending Study.

Lending 391

Lending Tools Inventory Renovations 391

Housing Wire

JULY 19, 2024

Ascent Developer Solutions , a private mortgage lending platform, announced its launch Friday in conjunction with an equity infusion from Elliott Investment Management. Founder and CEO Robert Wasmund has a deep background in the residential construction and bridge lending industry. “We now known as Rithm Capital.

Construction 414

Construction Development Finance Lending 414

Housing Wire

MAY 17, 2023

In fact, ATTOM reports that one in 12 home sales in the nation last year, or 8.4%, involved fix and flip investors — whose strategy is to acquire, renovate (fix) and then resell (flip) the properties. A year ago, we were offering to lend 85% loan-to-cost or 90% loan-to-cost, and that’s down to like 75% loan-to-cost.

Finance 346

Finance Marketing Renovations Investors 346

Housing Wire

FEBRUARY 3, 2023

HELOCs have continued to set the stage as flexible, helpful products that provide quick access to financing for a multitude of uses including home renovations, debt consolidations or emergency purchases. Additionally, 65% of the total respondents are currently planning or have plans to renovate their homes within the next two years.

Supply Chain 370

Supply Chain Renovations Finance Lending 370

Housing Wire

JULY 8, 2024

Global asset manager Bain Capital announced Monday that it has acquired a controlling stake in Archwest Capital , a California -based company that offers financing to residential real estate investors. Archwest provides business-purpose financing for single-family and multifamily homes, as well as mixed-use and commercial properties.

Investing 376

Investing Legal Lending Landlords 376

Housing Wire

APRIL 2, 2021

Finance of America on Monday will become the latest lender to make its debut on the New York Stock Exchange. Led by CEO Patricia Cook and founding chairman Brian Libman, Finance of America has been awfully busy ahead of the merger and IPO. Blackstone Group will retain a 70% ownership stake in the lender-and-servicer.

Finance 281

Finance Renovations Investors Retail 281

Appraisal Buzz

MAY 10, 2021

The lending and services platform Finance of America has introduced a home improvement financing product offered to consumers through approved contractors. The post New Service is Designed to Help Homeowners Renovate appeared first on DSNews.

Renovations 195

Renovations Design Home Improvement Finance 195

Housing Wire

JUNE 1, 2021

How hybrid title and valuations help increase lending efficiency. Investors who acquire and renovate older homes could claim the credit on their federal tax returns, as long as the home is sold to and occupied by an eligible buyer. The renovations would be on a budget, however. Streamline by combining services.

Renovations 516

Renovations Development Investors Legal 516

Housing Wire

MAY 1, 2023

The Consumer Financial Protection Bureau (CFPB) announced on Monday a proposed rule that seeks to bolster consumer protections for borrowers seeking Property Assessed Clean Energy ( PACE ) financing for home renovations. We are proposing new rules that would require sensible safeguards on these clean energy loans.”

Property Taxes 309

Property Taxes Renovations Finance Lending 309

Housing Wire

FEBRUARY 12, 2024

In AFR, it’s adding the New Jersey-based, full-service independent mortgage bank that has direct, wholesale and correspondent lending divisions. AFR offers agency, nonagency and government lending products. Since its foundation in 1997, Proprietary Capital has developed a platform to invest in the U.S.

Lending 358

Lending Renovations Construction Finance 358

Housing Wire

DECEMBER 17, 2024

The rule applies existing protections for residential mortgages to borrowers who seek PACE loans to upgrade or renovate their homes through clean energy technology. PACE loans which are often used to finance environmentally minded renovations, like the addition of solar panels have led to financial instability for some borrowers.

Mortgage 312

Mortgage Renovations Property Taxes Finance 312

Housing Wire

SEPTEMBER 24, 2021

Traditional lending approaches are time-consuming when it comes to fix-and-flip properties. Acra Lending is looking to solve these challenges and make fix-and-flip lending simpler and more efficient for borrowers, lenders and brokers. Acra understands the struggles fix-and-flip investors face when seeking financing.

Lending 392

Lending Renovations Finance Investors 392

Housing Wire

JUNE 5, 2024

Department of Housing and Urban Development (HUD) this week announced the launch of a new program designed to allow for the purchase, refinance or renovation of manufactured housing under a loan program sponsored by the Federal Housing Administration (FHA).

Government 529

Government Finance Renovations Design 529

Housing Wire

NOVEMBER 21, 2023

In March, the company struck a deal to acquire Homebridge Financial Services ‘s retail division to grow its retail lending business footprint. CMG makes its services and products available through wholesale and correspondent lending as well. The group will be branded as Shamrock, Powered by CMG Home Loans. year over year.

Loan Officers 372

Loan Officers Retail Lending Renovations 372

Appraisal Buzz

JUNE 14, 2024

Strategic Solutions for Today’s Homebuyers New construction financing and meeting the demand for new homes: According to the National Association of Home Builders (NAHB), in March, 33% of all home sales were new construction financing. This represents a competitive challenge for buyers relying on financing.

Marketing 396

Marketing Renovations Construction Finance 396

Housing Wire

DECEMBER 21, 2023

The VA makes a guarantee to the lending institution for 25% of the loan amount and the lender is responsible for evaluating the eligibility of the borrower. My favorite, and one of the most valuable and underutilized products in today’s low-inventory market , is the VA renovation loan. Who is eligible?

Mortgage 461

Mortgage Renovations Appraisal Process Finance 461

Housing Wire

MARCH 3, 2021

MAXEX , a digital exchange platform for buying and selling residential loans, announced on Wednesday the launch of two new lending programs in collaboration with JPMorgan Chase for green energy home improvements. Both programs are offered for loan values from $400,000 to $3 million. “The U.S.

Home Improvement 467

Home Improvement Renovations Finance Lending 467

Housing Wire

NOVEMBER 20, 2023

In 2022 alone, APM acquired 11 branches from Arizona-based Sunstreet Lending and Sunstreet, along with 25 branches from the Minnesota retail lender Lend Smart Mortgage and 51 branches from the now-defunct AmeriFirst Financial Inc. The lender also brought over 45 former retail branches from Finance of America Companies Inc.

Retail 368

Retail Mortgage Lending Renovations 368

Housing Wire

AUGUST 27, 2024

The 203(k) program allows for the inclusion of repair or renovation costs within a single mortgage to purchase or refinance a home. The “standard” option is for substantial repairs, while the “limited” option is for more minor repairs or renovations. Department of Housing and Urban Development (HUD).

Renovations 379

Renovations Modernization Insurance Finance 379

Housing Wire

JULY 5, 2022

Specialty finance company Redwood Trust Inc. The acquisition of Portland, Oregon-based Riverbend and its subsidiaries, announced originally in late April, is expected to fit in well with Redwood’s existing business-purpose lending platform, CoreVest. billion single-family and multifamily loans nationwide.

Finance 382

Finance Renovations Real Estate Investors 382

Housing Wire

OCTOBER 6, 2023

Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. Then, we have all the traditional financing options, including jumbo.”

Mortgage 491

Mortgage Real Estate Agent Renovations Finance 491

Housing Wire

JUNE 1, 2023

Connecticut-based lender and servicer Planet Home Lending has acquired the assets of Illinois-based retail lender Platinum Home Mortgage Corporation. Planet was the third largest correspondent lender in the first quarter of 2023, following Pennymac Financial and AmeriHome Mortgage , per Inside Mortgage Finance (IMF) estimates.

Retail 416

Retail Mortgage Lending Renovations 416

Housing Wire

FEBRUARY 16, 2022

If your state requires a lending license, make sure a the lender is licensed. Examine previous transactions with a lender, such as funding renovations on investment property, to better understand the lender’s experience with diverse real estate projects. Establish a private money lending network for real estate.

Real Estate 397

Real Estate Investing Investors Renovations 397

Housing Wire

JULY 23, 2021

Acra Lending is doing what it can to help free up inventory. Fix n’ flip loans are ideal for investors and developers looking to purchase a home and renovate it. Acra Lending plans to launch its fix’n’flip loan program in the coming weeks. 3-month bank statement. We’re very excited to enter the fix’n’flip space.

Housing Market 459

Housing Market Marketing Inventory Lending 459

Housing Wire

JANUARY 12, 2024

A proprietary reverse mortgage from Finance of America Companies (FOA) now secures the home of Rhode Island ’s honorary historian laureate after the property was returned to the owner after attempts to bequeath it to a nonprofit historical society he founded. This is according to reporting from The Providence Journal.

Tools 384

Tools Mortgage Finance Lending 384

Appraisal Buzz

NOVEMBER 15, 2024

Residential Lending at TD Bank. In addition to managing debt, many younger homeowners are using home equity instruments to finance improvements and enhance their long-term financial plans. Forty-three percent of people who are remodeling or intend to renovate their homes are doing so in order to raise their home’s equity.

Renovations 367

Renovations Lending Investing Home Improvement 367

Housing Wire

SEPTEMBER 9, 2024

added mortgage lending under its umbrella by acquiring mortgage brokerage company Be My Neighbor on Monday. The Texas-based lender is licensed in 26 states and provides 15-year and 30-year fixed mortgages, including government loans, 203 (k) renovation loans and reverse mortgages. This consists of $1.5

Brokerage 362

Brokerage Mortgage Real Estate Renovations 362

Housing Wire

JULY 31, 2023

The Credit Union National Association (CUNA) late last week released two comment letters expressing the association’s agreement with proposed rules on bolstering borrower protections for Property Assessed Clean Energy ( PACE ) financing for home renovations.

Property Taxes 297

Property Taxes Renovations Finance Mortgage 297

Appraisal Buzz

OCTOBER 14, 2024

As all lenders have “skin in the game” on every loan, rigorous quality control across the lending lifecycle is imperative. However, manual reviews of appraisals, property condition, renovation estimates, and more do not scale efficiently. Here, computer vision introduces a paradigm shift.

Valuation 368

Valuation Technology Renovations Appraisal 368

Housing Wire

JULY 5, 2024

The Mortgage Bankers Association (MBA) this week detailed its reasons for opposing a bill in the state of Florida designed “to expand projects eligible for residential Property Assessed Clean Energy ( PACE ) financing,” which was recently signed into law by Gov. Ron DeSantis.

Law 363

Law Finance Property Taxes Renovations 363

Housing Wire

JUNE 21, 2022

Most financing to acquire a home in need of updating or repair is short-term and relatively expensive. That way the homebuyer can get a straightforward, relatively inexpensive 30-year mortgage to finance their purchase. The same holds true for the investors that are renovating homes and reselling them.

Investors 418

Investors Renovations Inspection Government 418

Housing Wire

JANUARY 4, 2024

Department of Housing and Urban Development (HUD) has shown that it’s paying attention to the emerging housing needs of an older population by creating programs that allow for age-minded home renovations. HUD issued $15 million grants in mid-2022 and early 2023 designed to help with health and safety home repairs for low-income seniors. “By

Renovations 336

Renovations Investing Finance Design 336

Housing Wire

OCTOBER 31, 2024

Reverse mortgage industry leader Finance of America (FOA) announced updates on Thursday to the interest rate for HomeSafe Second, its proprietary second-lien reverse mortgage product. It will also be available in four new states, bringing the total to 10 with more planned for 2025. The new states are Arizona, Nevada, Oregon and Utah.

Mortgage 349

Mortgage Loan Officers Lending Renovations 349

Housing Wire

JANUARY 31, 2023

The right product mix When Finance of America Companies closed its forward mortgage origination unit in October, Steven Reich, a former COO at Finance of America Mortgage , and some branch managers wanted to stick together as a pack. One of the things that they do well is construction and renovation loans in-house,” Barnes said.

Mortgage 384

Mortgage Loan Officers Retail Finance 384

Housing Wire

AUGUST 1, 2022

Depository banks have dominated home equity lending for years, but nonbank lenders seeking volume are increasingly targeting the space. Depository banks have dominated home equity lending for years, but nonbank lenders seeking volume are increasingly targeting the space. New Residential Investment Corp. quarter over quarter. .

Renovations 392

Renovations Lending Mortgage Investing 392

Housing Wire

APRIL 18, 2023

MISMO , the real estate finance industry’s standards organization and a subsidiary of the Mortgage Bankers Association , plans to launch a working group that will create standards for Electronic Home Equity Lines of Credit (eHELOC). The volume of HELOC loans declined by 17% to $60.1 Overall, HELOCS accounted for 20.7%

Lending 270

Lending Renovations Real Estate Finance 270

Housing Wire

JANUARY 5, 2024

Generally, the Fed will adjust its lending rate by a quarter percent, but at times the adjustment has been larger. Refinancing into a fixed-rate mortgage may provide stability and consistency, although homeowners should be prepared for tighter lending restrictions. Declining interest rates present other opportunities for homeowners.

Real Estate 456

Real Estate Agents Marketing Sellers 456