The Justice Department failed again to secure a grand jury indictment against New York State Attorney General Letitia James over mortgage fraud claims. Prosecutors have been seeking to renew charges against James after a federal judge dismissed a case against her last month, saying that the prosecutor, Lindsey Halligan, the U.S. Attorney for the Eastern District […]
DOJ again fails to indict James for alleged mortgage fraud Read More »
Renters using Esusu programs have reportedly realized an average increase of 45 points to their credit scores.Michael Nagle/Bloomberg Rent reporting platform Esusu raised $50 million in a Series C funding round, which it plans to use to scale three specific programs. Processing Content The New York City-based fintech now counts total capital raised to over
Rent reporting fintech Esusu raises $50 million Read More »
Contractors repair the roof of a damaged home following a tornado in Earlington, Kentucky. Photographer:Luke Sharrett/Bloomberg Fannie Mae is broadening the parameters of its financing for adjustable-rate mortgage, renovation, manufactured housing and accessory dwelling units. Processing Content Fannie will no longer reject adjustable-rate mortgages in cases where the difference between the initial and fully-indexed rate of
Fannie expands ARM and renovation lending Read More »
Real estate flips produced their smallest profit margins in well over a decade during the third quarter as rising home prices require a change in strategy for investor businesses, according to a report from Attom. Processing Content Real estate investors flipped a total of 72,217 properties between July and September this year. The number finished
Home flipping profits shrink to their slimmest since 2008 Read More »
The mortgage industry is still weighing the impact of the latest Federal Open Market Committee short-term rate reduction on housing. Processing Content But reflecting trends prior to the meeting in the benchmark 10-year Treasury used to price mortgages, the 30-year fixed rate gained 3 basis points, while the 15-year climbed 10 basis points, the Freddie
Mortgage rates higher after FOMC rate cut priced in Read More »
A lot of people are asking the same thing right now: “Is it even a good time to sell?” And the truth may come as a bit of a surprise… For many homeowners, the answer is a strong yes. Why? Because of one major factor working in your favor: your equity. Odds are, if you’ve
Your Equity Could Change Everything About Your Next Move Read More »
Guaranteed Rate Affinity, a joint venture between Guaranteed Rate Inc. and Anywhere Integrated Services, announced Thursday that it has promoted Lacey Sullivan to regional manager for Northern California. In the role, Sullivan is tasked with overseeing the region’s leadership team, guiding growth initiatives, support for recruiting and development efforts, and leading engagement with Anywhere brand Coldwell Banker. In
Guaranteed Rate Affinity promotes Lacey Sullivan Read More »
Fannie Mae has announced several new policies in its latest Selling Guide update that are aimed at improving liquidity and expanding access to affordable housing. The changes include new eligibility for manufactured homes, expanded options for accessory dwelling units (ADUs) and updates to adjustable-rate mortgage (ARM) requirements, the government-sponsored enterprise announced on Wednesday. On the
Fannie Mae broadens ADU, manufactured home eligibility Read More »
A seven-story, circa 1980s office building in downtown Berkeley, CA, is poised to trade cubicles for bedrooms. A developer applied to convert 2001 Center St. into 58 apartments and a rooftop garden, according to a report from San Francisco YIMBY. Nord Ratree’s proposal comes as California’s recent housing laws converge with those in other states
Berkeley office to residential conversion joins national trend Read More »
NewDay USA has hired Michael Gaines as executive vice president of capital markets. Gaines confirmed the news on his LinkedIn account in a post on Dec. 6. “In my first week, I’ve seen firsthand the incredible commitment to serving veterans, service members and their families. I look forward to contributing to this mission and leading
NewDay USA appoints Michael Gaines as EVP, capital markets Read More »