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On Monday, the company announced the addition of two artificial intelligence-powered assistants to help realestate investors and mortgage brokers. Harvey will assist realestate investors while Donna is for mortgage brokers. “Realestate investors operate in a fast-moving environment. .”
The commercial and multifamily lending market is poised for significant growth in 2025, with borrowing and lending expected to increase by 16% year-over-year. Multifamily lending, which is included in the total figures, is also expected to rise by 16%, reaching $361 billion in 2025 compared to $312 billion the previous year.
Guaranteed Rate Affinity announced a promotion on Tuesday as the joint venture company named 22-year industry veteran Mark Rawls as vice president of mortgage lending. Guaranteed Rate Affinity was formed in 2017 through a partnership between Rate , formerly branded as Guaranteed Rate , and Anywhere RealEstate , formerly known as Realogy.
Global investment bank Cambridge Wilkinson today announced the closing of a forward flow agreement up to $100 million for a private realestatelending platform specializing in short-term bridge , fix-and-flip, construction and land development loans.
Cornerstone Capital Bank , a national mortgage originator and servicer, is launching a community lending division to serve underserved communities, the company announced this week. ” The Community Lending Division will offer mortgage programs and products tailored to benefit underserved borrowers.
In 2011, he founded the innovative brokerage The Agency RE, and he recently launched a realestate agent trade group that aims to serve as an alternative to the National Association of Realtors (NAR). Jeff Andrews: You and Jason Haber recently launched the American RealEstate Association, a trade group alternative to NAR.
Last week, business-purpose residential mortgage lender Dunmor announced that it received a minority equity investment from Newfi Lending , a nonagency mortgage lender owned by funds managed by Apollo Global Management. What does this mean for the residential realestate sector and how business-purpose mortgage lenders are trying to expand?
Residential realestate capital provider Kiavi announced Monday that it is expanding into 13 additional states, broadening the company’s reach to 45 states and Washington, D.C.
Department of Justice (DOJ) over the regulators’ allegations of mortgage lending discrimination in majority-Black neighborhoods of the Birmingham, Alabama , metro area. million people — Fairway had three retail loan offices and three desks in realestate offices, all in majority-white areas. million civil penalty.
Stone Point is no stranger to the realestate industry, as it also holds strategic investments in Lone Wolf Technologies , Homepoint , CoreLogic and Meridian. Czarnecki has over two decades of realestate industry experience. From 2017 until 2023 he served as the CEO of Broadstone Net Lease.
HousingWire is proud to announce the 2025 Finance Leaders, recognizing 40 of the most impactful finance executives in the mortgage and realestate industries. Take a look at the full list of this year’s honorees below.
has honored a longtime professional in its ranks with a lifetime achievement award, in recognition of his 40-year career in the mortgage banking, realestate , homebuilding and title insurance industries. Stebbins referred to as Pistol Pete by his colleagues was also lauded by Dan Ventura, Fairways president of reverse lending.
The company named veteran mortgage professional Connie Lindsay as its senior vice president of mortgage lending in Washington state. “I’ve cultivated strong mortgage and realestate industry relationships and collaborated with sales professionals and customers with a wide variety of needs,” she wrote on her LinkedIn profile.
AssetVal , a provider of realestate valuations, has partnered with artificial intelligence (AI) company Restb.ai BPOs, often used in realestate transactions and lending decisions, can vary due to subjective assessments by different agents.
Christie’s International RealEstate Belgium is expanding its operation to Brussels, according to an announcement on Tuesday. Christie’s International RealEstate Belgium is a fast-growing company with incredible expertise that has made them a market leader in luxury realestate in Flanders,” Delcroix said in a statement.
Small-balance commercial lender Stronghill Capital shut down its nascent consumer and correspondent lending businesses late last week. He cited a difficult market and elevated rates as reasons for shutting down correspondent and consumer lending businesses , which were added in 2022.
Rocket Companies has unified its realestate search platform with its mortgage lending platform to create a single resource where home buyers can search and purchase homes, making the process swifter and more efficient. The post Rocket Unifies its RealEstate Search and Home Financing Platforms appeared first on MortgageOrb.
The realestate market has witnessed significant fluctuations over the years, and the accompanying challenges for realestate agents can offer valuable insights and opportunities. The aftermath of the 2008 crisis led to significant attrition among realestate agents. million in 2006 to about 999,000 by 2012.
Today, Rocket Companies announced it has entered into an agreement to purchase digital realestate brokerage Redfin in an all-stock transaction valued at $1.75 billion in equity. The deal, which has been approved by the boards of directors of both Rocket Companies and Redfin, is expected to close in the second or third quarter of 2025.
Despite rising housing unaffordability , we in the realestate business know that homeownership is still a fantastic way to build generational wealth. Not surprisingly, affordability is inextricably linked to fair housing , as fair housing (and lending) for all is foundational to affordability for all. But we are not powerless.
Anaheim, California -based nonbank Change Lending on Tuesday announced the hiring of Madison Simm as its new chief financial officer. He comes to Change Lending after a stint as president of realestate at Texas Capital Bank. I am thrilled to join Change Lending as CFO,” Simm said.
Today, HousingWire announced the winners of the 2025 Tech100 award, representing the most innovative and impactful tech organizations in mortgage and realestate. This year, 100 honorees were selected in the mortgage category and 100 in the realestate category, highlighting the cutting-edge solutions shaping the future of housing.
Could 2024 be the worst year ever for realestate wire fraud ? First-time buyers are particularly at risk, especially if their realestate firms are unable to protect against the types of threats that have become commonplace. In Q4, some of the largest companies in the industry were taken down by cyber syndicates.
Realestate technology firm Knock announced Thursday that its bridge loan product is being integrated into the borrower application process at Baltimore -based NFM Lending. The Knock option is available to loan officers and realestate agents in 22 states across the country, the company explained in its announcement.
Banks have tightened lending standards for most categories of residential realestate (RRE) loans and home equity lines of credit (HELOC) over the third quarter of 2023. The survey, fielded quarterly by the central bank, asks loan officers about topics such as changes in lending terms as well as household demand for loans.
In a recent episode of the “RealEstate Insiders Unfiltered” podcast, co-hosts James Dwiggins and Keith Robinson chat with HousingWire Lead Analyst Logan Mohtashami to discuss a variety of issues — including pending concerns of a recession , mortgage rates and housing affordability issues that persist across the country.
Michael Saleh, a former senior vice president of Rocket Mortgage who spent about two decades at the company, has transitioned from the retail lending channel to wholesale by launching independent brokerage firm Zoom Home Lending. Saleh said he was leading between 250 and 300 people when he left Rocket in mid-May.
Rocket Companies has announced that it has entered into an agreement to purchase digital realestate brokerage Redfin in an all-stock transaction for a value $1.75 Rocket and Redfins approaches to lending and brokerage service have always been two halves of one vision to make the whole home-buying process magical, said Kelman.
It’s resulting in calls to reimagine the costs of homeowners insurance (Image generated by AI in Midjourney) As the planet warms and extreme weather intensifies, the rising cost of homeowners insurance is stopping realestate deals in their tracks. Meanwhile, out West … The pressure is on in other areas of the country too.
Digital mortgage automation solution provider Floify launched a lending platform for mortgage brokers built on the foundation of the Floify point-of-sale (POS) platform. The Colorado-headquartered firm was acquired by publicly traded proptech company Porch Group, Inc. in an $87 million deal in 2021.
Chase Home Lending , the consumer and commercial banking arm of JPMorgan Chase & Co. , In just the past year, the Department of Justice has called for a full dislocation of realestate agent commissions between sellers and buyers, and new appraisal bias protections have been set up.
Pretium is a realestate investment firm that focuses on single-family rental (SFR), build-to-rent (BTR) and fix-and-flip properties. Burns follows up with a question on how Pretium’s construction lending platform sets them apart, as well as the company’s interest in land banking. Mullen shares that the company raised $1.5
Technological Advancements in RealEstate: A look at emerging technologies with the potential to reshape realestate transactions and property management. Big changes are fun for economists but challenging for people trying to understand realestate,” Dr. Conerly said.
Dunmor , a provider of bridge, fix and flip, ground-up construction and DSCR rental loans for realestate developers, has received a minority equity investment from Newfi Lending , a non-agency mortgage lender owned by funds managed by Apollo Global Management.
According to a recent report by Forbes, over half of all realestate investors are now turning to private lenders. The rise of private lending Private lenders disrupted the monopoly of traditional banks and the private lending market has since seen a remarkable rise, reaching $1.5
Banks reported having tightened lending standards across almost all categories of residential realestate loans over the fourth quarter of 2023 amid an elevated interest rate environment. The survey asks officers about topics such as changes in lending terms as well as household demand for loans.
billion in new mortgages for apartment buildings with five or more units, according to the Mortgage Bankers Association’s (MBA) annual report of the multifamily lending market. billion in multifamily lending volume represents a 49 percent decrease from 2022 levels. In 2023, 2,520 different multifamily lenders provided a total of $246.2
The advantages for lenders The integration of advanced data collection techniques and the all-in-one ecosystem offers several significant advantages to lenders, positioning Opteon as a preferred partner in the lending process. This efficiency translates to cost savings and improved operational workflows for lending institutions.
These standout professionals all 40 years old or younger are driving innovation, transforming their organizations, and shaping the future of realestate, mortgage, and fintech. Each year, HousingWires Rising Stars award recognizes the next generation of leaders making a significant impact on the industry.
Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. A recent report from realestate analytics firm CoreLogic indicates that for U.S.
Total borrowing and lending for commercial and multifamily mortgages is expected to finish at $539 billion by the end of 2024, according to an updated baseline forecast by the Mortgage Bankers Association (MBA). The post Forecast: Commercial/Multifamily Borrowing and Lending to Increase first appeared on The MortgagePoint.
Rocket Companies will soon shut down Rocket Pro Originate , a mortgage origination platform for realestate agents, insurance agents, tax professionals and other financial professionals who are also licensed to originate mortgages.
Home equity lending in 2023 grew by only 1.5% Given the substantial amount of accumulated equity in realestate, there is still untapped potential for home equity lending for lenders and borrowers.” compared to the prior year, while outstanding debt increased by 8.3% billion per company in 2023, compared with $2.1
Louis-based Clever RealEstate , 63% of homeowners would rather remodel their current home than move to one that has already been fixed up. Keynova Group recently surveyed 12 large banks and nonbanks about their home equity lending capabilities. In response, some consumers have turned to renovation projects to meet their needs.
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