MOVES-Aviva Investors expands real estate funds team
Jan 11 Aviva Investors, the asset management business of Aviva Plc, appointed Kris McPhail as assistant fund manager on the Lime Property Fund. The Lime Property Fund invests in a wide range of long-lease assets including healthcare, offices ...and more »
- In the weeks since Steve Mnuchin sent shockwaves through the housing industry by stating that the Trump administration planned to end the conservatorship of Fannie Mae and Freddie Mac, reactions varied on whether that can actually be done and how expensive it might be. Here's an interesting take from an interested party on how the GSEs might actually exit conservatorship and what that would mean to the GSE stockholders who've waited quite a few years for a resolution.
- After roughly a year to get finalized, SoFi officially received its license to lend in New York, which is one of the most difficult states to acquire a license in, Michael Tannenbaum, SoFi’s chief revenue officer, said in an interview. And now with New York under it's belt, Tannenbaum touches on a strong mortgage future ahead for SoFi.
- Late last year, Deutsche Bank announced that it reached a $7.2 billion settlement with the Department of Justice in connection with the bank’s issuance and underwriting of residential mortgage-backed securities between 2005 and 2007. Although the bank made the announcement in late December, the settlement was not official, but it is now.
- RE/MAX’s annual report showed the Chicago area saw its highest level of home sales since 2006. However, despite the increase, the city continues to struggle with low levels of housing inventory.
- PricewaterhouseCoopers joined Ellie Mae’s Pro consulting partner program as a Premier Partner. The premier level is offered by invitation only, with PwC being Ellie Mae’s first Premier Partner in the program. This is what the two companies hope to achieve though their partnership.
- Minnesota-based KleinBank excluded minority neighborhoods from its service area for all banking services and engaged in discriminatory lending, the Department of Justice claimed in a lawsuit filed late last week. According to the Department of Justice, none of KleinBank’s branch locations in the Minneapolis-St. Paul metro area is located in a minority neighborhood, a practice known as “redlining.” The bank denies the DOJ's allegations.
- Clayton Homes, a Berkshire Hathaway company, opened a new division of its company and will now be transporting its own manufactured houses. It announced it will use the new division to take more control over its homes on the road. Here’s more on the new division, and the training the new drivers will receive.
- Senate Democrats are adamantly fighting back against growing calls for President-elect Donald Trump to fire Consumer Financial Protection Bureau Director Richard Cordray. This time around Senate Democrats held a press call to emphasize the importance of Cordray and what the consequences would be is Trump attempted to fire him.
- While the fourth-quarter results for Wells Fargo and JPMorgan Chase were decidedly mixed, with JPMorgan significantly exceeding and Wells Fargo missing market expectations, there was one common denominator among the big banks’ earnings – lower earnings from mortgage banking. But what should the market make of those results?
- President-elect Donald Trump’s plan to build a wall between the U.S. and Mexico could create more competition in an already tight labor force. The construction labor market could see even more tightening, and constrain housing starts over the next couple years if Congress approves funding for the wall.
- Senate Democrats dubbed Trump’s nominee to lead the Department of the Treasury, Steven Mnuchin, the "foreclosure king,” but while this makes a nice soundbite, it simply isn’t true. Given that everyone is focusing on Mnuchin’s participation in the foreclosure crisis, Movement Mortgage CEO Casey Crawford penned a blog for The Hill to try and put an end to everyone calling Mnuchin the “foreclosure king” and instead give him the credit he deserves.
- Contamination under a military base in South Carolina lead some military moms to believe it could be the cause for their children’s cancer. At least 11 families near the base have children battling leukemia, but are the military’s efforts to fix it too little too late?
- Moody’s Corp. agreed to pay nearly $864 million to settle claims for its role providing credit ratings for Residential Mortgage-Backed Securities and Collateralized Debt Obligations that contributed to the financial crisis. "Moody’s failed to adhere to its own credit rating standards and fell short on its pledge of transparency in the run-up to the Great Recession," said Principal Deputy Associate Attorney General Bill Baer.
- Right as Washington is about to switch over to a Republican leader after eight years with Pres. Obama at the helm of the nation, the U.S. Treasury communicated its final parting thoughts on reforming the housing finance system. Here’s the final piece of a three-part series on what advice the U.S. Treasury would give on creating the future system. This time around it focuses on an equal playing field for lenders.
- Another city in Texas saw a record-setting year for 2016 with its rising home prices, low housing inventory and high demand. While not on national top 10 lists for booming markets, San Antonio could very soon follow in the footsteps of its neighboring cities as markets in Texas continue to heat up.
- Up until this year, the Federal Housing Administration has not reduced annual mortgage insurance premiums since January 2015. But even the 2015 reduction came in a series of increases and reductions that have taken effect since 2010. Before the increase in 2010, there was a long standstill in mortgage insurance premiums, which the Mortgage Bankers Association puts into context in its latest chart of the week.
- After a week of losses for Wells Fargo, the bank announced it will close down more than 400 branches in the next two years. These cost-saving measures could save the company $2 billion, but this isn’t the first time the bank will close branches and denies the move is connected to the fake accounts scandal.
- As the guard changes in Washington, so does the housing and mortgage finance industries we rely on for making our living. Do you have questions on what the Trump mortgage nation will look like? The editorial department at HousingWire gathered housing finance experts to answer all your questions. Don't miss your chance to get in on the action, completely FREE.
- Even without a tornado or hurricane, high wind speeds can cause significant damage to homes. Because of this risk, homeowners in areas more prone to high wind speeds can sometimes see a decrease in their home’s value or even major property damage during storms. CoreLogic’s most recent report ranks the top 10 cities that are most at risk to wind damage.
- Even without a tornado or hurricane, high speed winds can cause significant damage to homes. Because of this risk, homeowners in areas more prone to high wind speeds can sometimes see a decrease in their home’s value or even major property damage during storms. CoreLogic’s most recent report ranks the top 10 cities that are most at risk to wind damage.
- Referrals accounted for approximately 9% of mortgage originations in 2016, Wells Fargo CFO Tim Sloan said during an earnings call. He added that the bank expects lower referrals in the fourth quarter will reduce funding volumes in the first quarter by approximately 2.5%.
- The Super Bowl is almost here and Airbnb users in Houston are capitalizing on the hype. Listings that could go for $100 to $300 the weekend before suddenly jump to nightly prices in the thousands. These photos show the change in price that one weekend can bring.
- The expected next director of HUD, Dr. Ben Carson, is transitioning through the nomination process. So who will serve in the meantime? This guy will. Plus a full update on our favorite Ponzi schemer, Bernie Madoff. You won't believe what he is up to in prison.
- Fredericksburg area real estate market strong as 2017 begins
Residential real estate in the Fredericksburg region posted gains in December, rounding out a 2016 already marked by strong sales, according to the Fredericksburg Area Association of Realtors. The local real estate market showed increases in 2016 in ...
- US real estate predictions for 2017
Enter Stage Right
It is with great sadness and generosity that my annual rollout of US. Real Estate predications can proceed forward. This year will have more of a political bent given that 2016 was all about the politicos and the mental consternation it brought to the ...
San Juan Island Real Estate Market Summary by Merri Ann Simonson
In reviewing the year-end results for 2016, the sales dollar volume for the real estate market in San Juan County per the Northwest Multiple Listing Service was $251,020,953 which reflects an increase in volume of 16.4% over 2015 when the volume was ...
- Colorado Real Estate Journal
Proposed valuation regulations may affect real estate entities
Colorado Real Estate Journal
Traditionally, estate planning for real estate ownership has taken advantage of the availability of discounts for lack of control and lack of marketability. Griffin Bridgers Attorney, Spencer Fane LLP, Denver Griffin Bridgers Attorney, Spencer Fane LLP ...
- Miami Herald
In a year that was anything but, the 2016 real estate market was refreshingly normal
Looking back at the residential real estate market in South Florida last year, it seems like 2016 was for the most part pretty normal. That might seem like a negative, but in a volatile industry like real estate — and a year as crazy as 2016 — normal ...
For real estate, big changes already in 2017
The Washington Post reports that Jeff Bezos, who owns the newspaper and founded Amazon, has purchased the former site of The Textile Museum, in D.C.'s Kalorama neighborhood. (Courtesy GWU University/Greg Powers... Eldad Moraru of Long and ...
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