Housing Wire

NOVEMBER 20, 2023

California-based retail lender American Pacific Mortgage (APM) has named vice chairman Bill Lowman as its chairman of the board, succeeding APM founder Kurt Reisig. The lender also brought over 45 former retail branches from Finance of America Companies Inc. FoA) months after it shut down its forward mortgage segment.

Retail 426

Retail Mortgage Lending Renovations 426

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. Its portfolio includes construction to perm, renovation financing, builder programs and home equity line of credits , among others.

Loan Officers 429

Loan Officers Retail Lending Renovations 429

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. We look to acquire right-sized, financially solid distributed retail companies.” The financial terms of the transaction have not been disclosed.

Retail 418

Retail Mortgage Lending Renovations 418

Housing Wire

AUGUST 2, 2024

properties sold at foreclosure auction, showed that this trend is being fueled by rising levels of inventory on the retail market. If the demand pullback continues into Q3, it would also foreshadow a slowdown in retail home price appreciation.” from May to June. On an annualized basis, five major U.S.

Inventory 466

Inventory Retail Buyers Renovations 466

Housing Wire

MAY 8, 2023

Once the transfer of ownership occurs at foreclosure auction, a distressed property can be renovated and returned to the retail market as affordable housing for homeowners or renters. “[I My renovated homes are] reducing the number of rental properties , which in our town has become a source of demise.”

Inventory 433

Inventory Renovations Supply Chain Buyers 433

Housing Wire

APRIL 21, 2022

But it also makes sense given that their large-scale acquisition strategies could buckle under the logistical pressure of performing major renovations on hundreds or thousands of homes simultaneously. of retail home sales were to bulk buyers. Renovating Right. We’re taking a house and gutting it. All new components.

Investors 418

Investors Renovations Marketing Retail 418

Housing Wire

MAY 24, 2024

Prior to joining Movement Mortgage, Thompson served as the senior vice president and regional sales manager at PrimeLending , where he oversaw $1 billion in annual retail volume across the Texas markets of Houston, Austin, San Antonio and Laredo. I align perfectly with Movement’s core conviction of existing to love and value people.”

Mortgage 420

Mortgage Renovations Loan Officers Retail 420

Housing Wire

FEBRUARY 21, 2023

That’s 27 percentage points higher than the estimated net proceeds (50% of total debt) for properties that reverted to REO and then were subsequently sold on the retail market, typically through the Multiple Listing Service. That was 14 percentage points higher than the 58% homeownership rate for retail REO sales.

Housing Market 396

Housing Market Renovations Marketing Retail 396

Housing Wire

MAY 22, 2024

Some of the chains reporting increased renovation and modification activity include The Home Depot and Lowe’s , two of the largest home improvement retailers in the U.S. This means that renovations of existing homes are likely to become more necessary as time goes on.

Renovations 458

Renovations Design Home Improvement Advertising 458

Housing Wire

JULY 21, 2022

Retail housing market data from June showing early signs of a real estate slowdown was foreshadowed three months earlier in buyer behavior at foreclosure auctions. The retail housing market data, released by Redfin at the end of June, shows the median asking price for newly listed homes for sale in the four weeks ending June 26 dropped 1.5%

Housing Market 434

Housing Market Buyers Marketing Retail 434

Housing Wire

JUNE 3, 2022

Could renovated foreclosure resales help solve the nation’s increasingly complex affordable housing puzzle? An estimated 140,000 renovated properties purchased at foreclosure auction or bank-owned auction were resold to owner-occupant buyers between January 2020 and December 2021.

Construction 482

Construction Renovations Transportation Real Estate 482

Housing Wire

DECEMBER 12, 2024

Institutional sellers at distressed property auctions have gradually lowered pricing over the last six months as rising retail inventory and stubbornly high mortgage rates act as twin headwinds for buyers purchasing at these auctions. By definition, most distressed properties sold at auction are in need of substantial renovations.

Housing Market 326

Housing Market Retail Marketing Sellers 326

Housing Wire

NOVEMBER 15, 2024

If the home you’re hoping to buy doesn’t have the accessibility you’re looking for, you’ll want to check with a contractor to see what kind of renovations are possible,” the story said. Bathrooms are also a major focus, since they can often serve as common sites for falls or other accidents since slippery, wet surfaces can be easy to find. “If

Design 428

Design Renovations Retail Home Improvement 428

Housing Wire

JULY 14, 2022

The higher owner-occupancy rate for distressed properties sold at auction than those sold on the MLS is a surprising stat given that the MLS is much more broadly known to retail, owner-occupant buyers. The role of renovators. A deeper dive into the data helps to explain this surprising result. I buy local.

Renovations 365

Renovations Investors Retail Buyers 365

Housing Wire

JULY 3, 2023

PrimeLending , a Texas-based retail mortgage bank, aims to expand its market share by growing within its existing footprint in a margin-thinning environment. Licensed in 23 states across the country, PrimeLending has 150 branches including satellite and primary retail locations. Companies may be struggling in one way or another.

Loan Officers 367

Loan Officers Marketing Retail Renovations 367

Housing Wire

SEPTEMBER 13, 2023

Retail giant Amazon announced on Wednesday the launch of a new pilot program designed to assist moderate-income families in three different U.S. million into the Nashville area to build and renovate 130 affordable homes, bringing its then-total investment into that community to roughly $100 million.

Renovations 412

Renovations Retail Investing Design 412

Housing Wire

APRIL 8, 2021

One of the big beneficiaries of the new live/work/play setup has been home goods retailer Home Depot. According to a survey by Hippo.com , 54% of respondents said they made at least one home improvement last year, with the bulk having made renovations to their backyard, kitchen and home office at 21%, 20.1%, and 18.4% respectively.

Renovations 341

Renovations Home Improvement Retail Marketing 341

Appraisal Buzz

AUGUST 5, 2024

I do feel like the retail market has softened,” said Tony Tritt, a Local Community Developer in Northwest Georgia. “I I do feel like the retail market has softened,” said Tony Tritt, a Local Community Developer in Northwest Georgia. “I Sellers, however, kept pricing relatively steady, contributing to the increased spread.

Retail 273

Retail Renovations Inventory Contracts 273

Housing Wire

MARCH 13, 2023

Retail lender Guild Mortgage announced the acquisition of Cherry Creek Mortgage , a privately-held Colorado-based lender with 68 branches in 45 states. Established in 1987, Cherry Creek offers a wide range of mortgage products including conventional, FHA, VA USDA, USDA, reverse mortgages and home renovation loans.

Mortgage 370

Mortgage Retail Renovations Loan Officers 370

Housing Wire

APRIL 27, 2021

Parkside, founded in 2004 in San Francisco and led by CEO Matt Ostrander, also operates correspondent and retail channels. The acquisition of Parkside’s wholesale business comes roughly one month after Finance of America’s acquisition of Renovate America’s Benji business , an expansion into the home improvement lending space.

Finance 370

Finance Lending Retail Renovations 370

Housing Wire

JANUARY 31, 2023

Almost three months after Finance of America Mortgage shut down, Reich brought over 21 retail branches to form his own retail division at Go Mortgage. However, had said he kept his ears open for an opportunity to move over to Mann Mortgage, which closed construction and renovation loans in-house. In-house is key.

Mortgage 416

Mortgage Loan Officers Retail Finance 416

Housing Wire

FEBRUARY 15, 2023

California-based retail lender American Pacific Mortgage (APM) has made leadership changes while continuing to eye expansion in the Midwest and Southeast. The lender also brought over 45 former retail branches from Finance of America Companies Inc. FoA) months after it shut down its forward mortgage segment.

Retail 357

Retail Renovations Lending Loan Officers 357

Housing Wire

APRIL 27, 2021

Atlas Real Estate and DivcoWest declared last week that they will spend $1 billion “acquiring and renovating homes in high-growth states including Colorado, Arizona, Idaho, Nevada, and Utah,” according to a press release. Another partnership of asset management giants has announced a major investment in single-family rental homes.

Real Estate 370

Real Estate Renovations Retail Inventory 370

Housing Wire

AUGUST 10, 2023

The increasing share of owner-occupant buyers is also evidence that extremely tight housing inventory is prompting more retail buyers to take on the additional challenges that come with buying a distressed property at auction. They are able to pay with cash, take on bigger renovations and provide current occupants with a graceful exit.

Renovations 366

Renovations Buyers Development Insurance 366

Housing Wire

NOVEMBER 13, 2024

The Home Depot Foundation — the philanthropic arm of the home improvement retail conglomerate — announced that it is investing $10 million for the purpose of enabling older military veterans to age in place in their homes. While veteran homelessness has decreased by 55% over the past decade, it began to rise again in 2023.”

Investing 367

Investing Renovations Retail Technology 367

Housing Wire

OCTOBER 20, 2022

The first quarter numbers reflect a pandemic-fueled housing fever dream that impacted the distressed housing marketplace as much as it did the retail housing marketplace. This ratio hit a year-to-date high of 89% in Q1 2022, representing an 11% average purchase discount for foreclosure auction buyers.

Housing Market 459

Housing Market Buyers Marketing Investors 459

Housing Wire

OCTOBER 31, 2024

It “empowers financially secure homeowners to tap into their home equity for meaningful pursuits — be it renovating their living space, funding a child’s education or buying a second home,” she said. In October 2023, FOA announced a rollout of HomeSafe Second to an expanded pool of direct retail loan officers and wholesale brokers.

Mortgage 408

Mortgage Loan Officers Lending Renovations 408

Housing Wire

JANUARY 12, 2024

The pandemic-era run-up in home prices and the property’s reappraisal made the burdens of the mortgage payments too high when deducted from the gift itself, Dooley explained to the outlet, despite the Conleys continuing to pay for taxes, utilities and renovations for the property.

Tools 441

Tools Mortgage Finance Lending 441

Housing Wire

FEBRUARY 18, 2022

AVMs do not account for upgrades or renovations. Sometimes properties have increased in value due to recent upgrades or renovations. This information is not known by AVMs, nor do they calculate possible value adjustments. They do not know how much value to give either. AVMs don’t account for commercial influence.

Appraisal Process 395

Appraisal Process Appraisal Valuation Renovations 395

Housing Wire

FEBRUARY 12, 2024

During an Association of Independent Mortgage Experts conference in October 2023, AFR executive vice president Christopher Guerin said that the company had doubled its efforts to do more renovation loans. “We focus more on manufactured home financing and new-construction home financing instead of maybe fighting against some of those headwinds (..)

Lending 418

Lending Renovations Construction Finance 418

Housing Wire

MAY 21, 2024

I’m still focusing on those markets with very low (retail) inventory. Most properties that sell at foreclosure and REO auctions are in need of major renovations, far from being in fully repaired condition. It’s very, very market dependent right now. If I get something it will be a bidding war (when I sell).” in Q1 2023.

Marketing 475

Marketing Investors Real Estate Investing 475

Housing Wire

APRIL 2, 2021

The lender, which is controlled by the Blackstone Group and operates through retail, wholesale and correspondent channels, will begin trading Monday following the completion of its merger with blank-check company Replay Acquisition Corp.

Finance 326

Finance Renovations Investors Retail 326

Housing Wire

DECEMBER 12, 2022

Despite struggles in retail and wholesale, Pennymac has remained a standout in the correspondent channel, in which lenders aggregate loans from smaller originators. Meanwhile, the retail channel’s market share slipped to 56% of the overall originations pie in the third quarter of 2022. In retail, it’s more difficult to do so.

Marketing 417

Marketing Lending Retail Clients 417

Housing Wire

SEPTEMBER 22, 2022

Business is at a “dead stop,” said a retail loan officer in Michigan. While some LOs plan on moving to the broker channel for higher margins or exiting the industry, those planning to stay in the retail business are offering more loan products or getting licenses in other states to cast a wider net for borrowers.

Mortgage 397

Mortgage Loan Officers Inventory Retail 397

Housing Wire

OCTOBER 15, 2020

Once rehabbed, previously vacant distressed properties are attracting scores of retail buyers, according to Jeff Crum, chief investment officer at New Jersey Community Capital (NJCC), a nonprofit, socially motivated lender that also buys and rehabs vacant distressed properties. “If Seeking new inventory sources.

Buyers 360

Buyers Development Renovations Retail 360

Housing Wire

JANUARY 6, 2023

Connie Kim: Have you also noticed retail LOs moving over to the wholesale channel? Lower pricing, less red tape in big-name retailers are what’s driving some of them to make the transition. I also think there is the potential for the renovation loans and products like that to pick up a little bit as well because inventory is low.

Loan Officers 432

Loan Officers Business Clients Inventory 432

The Robert Weiler Company

MAY 18, 2022

All expenses associated with the commercial property should be included, such as repairs and renovations, commercial real estate loans and interest rates, and costs associated with selling commercial real estate (e.g., CRE Property #2: Retail/Restaurant Storefront. When in doubt, invest in your roof. . De-clutter the interior.

Real Estate 148

Real Estate Tenants Retail Investing 148