Real estate news

• Looking to buy a home in 2017? Here are your first steps

  01-12-2016 23:25
  
  Are you planning to buy a home in 2017? Here are some things you could start doing right now to make sure you’re ready. One expert gives five steps you should take before buying a home.
  
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• In Miami Beach, A Penthouse Looks To Set A Real Estate Record - Forbes

  01-12-2016 22:25
  
  Forbes
  In Miami Beach, A Penthouse Looks To Set A Real Estate Record
  Forbes
  Homes sales in Miami have been falling for months, with the number of existing sales in Miami-Dade County plunging 22% in October, according to the Miami Association of Realtors. Condominiums are taking the biggest hit as developers continue to ...and more »
  
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• HUD bans smoking in subsidized housing

  01-12-2016 22:02
  
  The Department of Housing and Urban Development announced a new ban on smoking in all public housing. Here are some of the reasons behind this new ban that will take effect in 2018. Do you think smoking should be banned in subsidized housing? Let us know!
  
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• Trump Names Quicken Loans Executive to HUD Transition Team

  01-12-2016 21:57
  
  While speculation continues to surround President-Elect Donald Trump’s nomination of Ben Carson to the post of Department of Housing and Urban Development (HUD) secretary, two more members of Trump’s HUD transition team have been named: Shawn Krause, executive vice president of Government Advocacy for Quicken Loans, and Jimmy Kemp, son of former HUD Secretary Jack Kemp. Krause brings 28 years of experience to the transition team, serving in virtually every department within Quicken L
  
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• Freddie Mac: Another Week of Higher Mortgage Rates

  01-12-2016 21:49
  
  Mortgage rates have once again moved higher as the weeks pass since the election, with the average 30-year fixed-rate mortgage now at 4.08 percent, according to Freddie Mac’s recently released Primary Mortgage Market Survey® (PMMS®). The 30-year fixed-rate is up from 4.03 percent last week—the first time rates exceeded 4 percent this year.
  “The 10-year Treasury yield remained flat despite an upward revision to third quarter GDP,” says Sean Becketti, chief economis
  
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• Allied Home Mortgage, CEO Jim Hodge ordered to pay $92 million for FHA fraud

  01-12-2016 21:47
  
  A little over five years ago, the government sued Allied Home Mortgage, its various entities, and its president and CEO, Jim Hodge for $834 million, claiming that Allied engaged in repeated fraud against the Federal Housing Administration over a 10-year period. Now, after a long legal battle, the government secured a victory against Allied Home Mortgage and Hodge, as this week, a federal jury unanimously found Allied Home Mortgage and Hodge liable for civil mortgage fraud.
  
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• FHA increases loan limits going into 2017

  01-12-2016 21:23
  
  The Federal Housing Administration announced plans on Thursday to increase loan limits in 2017. Compared to last year, the number of counties set to increase is skyrocketing. Click the headline to find out where the changes are.
  
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• Blackstone reportedly files to take Invitation Homes public

  01-12-2016 19:39
  
  Blackstone Group is apparently moving forward in its plans to take its single-family rental unit, Invitation Homes, public in 2017. The Wall Street Journal is reporting that Blackstone is taking the next step in the process, reportedly filing confidentially for an IPO that could come “as soon as January.”
  
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• Zillow capitalizes on holiday spirit, adds Santa’s house to site

  01-12-2016 19:30
  
  Store parking lots are full, Christmas shopping is in full swing, and the holidays are nearly upon us. One company, however, was not going to let the season pass without capitalizing on the festivities.
  
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• [Video] The many challenges facing Trump on promised GSE reform

  01-12-2016 19:13
  
  Reforming Fannie Mae and Freddie Mac moved from a backburner issue to a hot topic after Treasury secretary nominee Steve Mnuchin revealed his plans for GSE reform in an interview on Wednesday. So how does this look in execution? Recently, after moderating a panel on GSE reform, Jeb Mason, a partner at The Cypress Group, explained what the biggest challenges facing President-elect Donald Trump on this are going to be.
  
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• Chicago last of U.S.'s 100 largest real estate markets in 2017 ... - Crain's Chicago Business

  01-12-2016 19:10
  
  Crain's Chicago Business
  Chicago last of U.S.'s 100 largest real estate markets in 2017 ...
  Crain's Chicago Business
  Chicago will have the coldest real estate market among the nation's 100 largest metro areas next year, according to a forecast released yesterday.
  Real Estate Matters: 2017 National Housing Forecast | WINK NEWSWink News
  Chicago area forecasted to have the weakest real estate market in ...Chicago Readerall 3 news articles »
  
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• Chicago expected to be worst of nation's 100 biggest real estate markets in 2017 - Crain's Chicago Business

  01-12-2016 19:10
  
  Crain's Chicago Business
  Chicago expected to be worst of nation's 100 biggest real estate markets in 2017
  Crain's Chicago Business
  Chicago will have the coldest real estate market among the nation's 100 largest metro areas next year, according to a forecast released yesterday. The double-barreled forecast of slim increases in prices and in the number of homes sold landed Chicago ...
  Real Estate Matters: 2017 National Housing ForecastWink News
  Chicago area forecasted to have the weakest real est
  
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• Is Ben Carson as HUD secretary a good idea? Reactions vary wildly

  01-12-2016 17:55
  
  Well, it’s been a few days since HousingWire reported that Ben Carson intended to accept President-elect Donald Trump’s offer to serve as Secretary of Housing and Urban Development, but there’s been no official word yet. Since tweeting about the job last week, Carson’s Twitter feed has been quiet. But that hasn’t stopped reactions to Carson’s (potential) appointment at HUD from pouring in from all sides.
  
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• Trump names Quicken Loans VP to HUD transition team

  01-12-2016 17:53
  
  Trump named a new member to the Department of Housing and Urban development transition team – Quicken loans Executive Vice President Shawn Krause. Could this appointment be what finally pushes HUD Secretary nominee Ben Carson to announce his acceptance?
  
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• Freddie Mac: Mortgage rates hit highest point this year

  01-12-2016 16:03
  
  Mortgage rates increased yet again, rising a total of 51 basis points in the past three weeks. Now set at the highest point this year, rates continue to increase and surpass even year-over-year.
  
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• loanDepot acquires Closing USA and American Coast Title

  01-12-2016 07:30
  
  loanDepot announced two major acquisitions on Thursday, adding Closing USA, a national title, escrow and settlement company, and its affiliate, American Coast Title, to the company. The news expands loanDepot’s national licensing footprint for title, escrow and settlement services to more than 30 states and Washington, D.C.
  
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• Executive Conversation: Melinda Wilner on operational excellence in wholesale mortgage lending

  01-12-2016 07:06
  
  Melinda Wilner, chief operating officer at United Wholesale Mortgage, discusses the central role of operations in a competitive mortgage environment with the latest installment of HousingWire's web series that profiles powerful people in the financial industry.
  
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• What will the mortgage industry look like with a new sheriff in town?

  01-12-2016 07:00
  
  While other state and federal regulatory bodies overlap in their regulation of the mortgage industry, the very particular consumer focus of the CFPB is not duplicated by any other body. Will deregulation mean a return to the Wild West lending atmosphere that led to the financial crisis? What happens next? We asked John Socknat, partner at Ballard Spahr, to weigh in on what mortgage lenders and servicers can expect from a Trump administration.
  
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• Superior Home Services tackles damaged FHA properties in default

  01-12-2016 07:00
  
  Superior has been managing hazard claims for mortgage servicers for more than 30 years, with the ultimate goal of maximizing those funds to remediate the damage at the subject property, and then executing those repairs with the insurance funds available. By offering a hazard claim management solution, Superior can now manage a mortgage servicer’s entire damaged property portfolio: government loans, conforming loans, private investor and bank-owned inventory. 
  
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• Mortgage Connect to launch eClosing solution for enhanced consumer experience

  01-12-2016 07:00
  
  Today, the mortgage industry is ripe for innovation and poised for tremendous growth. There is a strong demand to create products, processes and technologies to help attract future homebuyers, as well as improve the consumer experience in the mortgage loan transaction life cycle. Lenders and third-party vendors need to be prepared to offer new products and create or adopt new technologies to drive efficiencies to workflows to stay competitive and provide faster results for their consumers. 
  
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• LoanLogics synchronizes manufacturing and quality-control process for lenders

  01-12-2016 07:00
  
  The impact of in-line, automated quality management and loan manufacturing goes beyond cost reduction and extends to significantly improving customer service and increasing investor confidence. Lenders can improve borrower satisfaction by reducing delays, closing loans faster and providing more competitive pricing, all the while assuring investors of the quality of the assets that are produced.
  
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• Land Gorilla streamlines the construction lending market with comprehensive solutions

  01-12-2016 07:00
  
  One of Land Gorilla’s core technology offerings is the Construction Loan Manager, a cloud-based construction loan management software that streamlines the management process and is the most powerful platform available for today’s construction lender, Faries said. Construction Loan Manager allows lenders to manage three and a half times more loans with less risk and more visibility than using a standard spreadsheet.  
  
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• Hot Seat: Ralph Armenta of Alight

  01-12-2016 07:00
  
  Mortgage banking is not the sleepy cottage industry of yesterday. Mortgage banks have evolved into highly competitive, real-time, geographically dispersed businesses that require firm owners, CEOs, CFOs and sales leadership to keep a finger on the pulse of the enterprise 24/7 to capitalize on opportunities and mitigate losses.
  
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• First American Mortgage Solutions utilizes a broad growth strategy

  01-12-2016 07:00
  
  While many vendors have retreated from certain markets, First American Mortgage Solutions has poured capital into its business lines across the mortgage continuum, from origination to post-closing to servicing. This gives the company the ability to provide data solutions, fraud risk detection and verification, regulatory compliance, valuation and collateral risk assessment, title and settlement for purchase and home equity transactions, document services, fulfillment services and default se
  
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• Ellie Mae's next-gen Encompass Lending Platform accelerates time to market

  01-12-2016 07:00
  
  “With a platform approach to lending, the opportunities and ideas are endless. The Ellie Mae Encompass Lending Platform puts more power into the hands of our customers, partners and developers, enabling them to rapidly extend, integrate, and build new capabilities with Encompass that serve to differentiate and grow their businesses,” said Jonathan Corr, president and CEO, Ellie Mae.
  
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• Chronos Solutions helps lenders manage costs amid rising interest rates

  01-12-2016 07:00
  
  The company’s acquisitions in 2016 give it the capability to deliver end-to-end solutions for the mortgage loan lifecycle, including credit data/reporting, 4506-Ts, property valuation services, title, HOA and condo retrieval, tax lien, escrow services, and everything required to settle a mortgage asset default. Most importantly, Chronos Solutions’ array of services means the company can create bundled solutions tailored to lenders’ specific needs, providing efficiency while mai
  
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• A check on the CFPB's unprecedented power

  01-12-2016 07:00
  
  Since the election of Donald Trump, the legitimacy and very survival of the Consumer Financial Protection Bureau is now front and center. The agency is in peril after an Oct. 11 decision by the U.S. Court of Appeals for the District of Columbia Circuit that ruled, for the first time, that an independent agency established by the legislative branch of government is unconstitutional. 
  
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• 2016 HW Vanguard Award winners

  01-12-2016 07:00
  
  Amid the potential new direction from the president, congress and regulators, leadership in our industry is more important than ever. Which is why HousingWire is proud to present the 40 winners of our 2016 Vanguard award. These leaders from all segments of the mortgage ecosphere demonstrate that our industry is more than capable of meeting the challenges that lie ahead.
  
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• Americans rush to refinance as mortgage rates keep rising

  01-12-2016 06:01
  
  While Americans rushed to refinance their home in the third quarter, the same can’t be said for purchase originations. While refinances shot up, purchase originations took a tumble during the third quarter.
  
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• Online real estate service OpenDoor raises $210M Series D despite risky financing model - TechCrunch

  01-12-2016 02:22
  
  TechCrunch
  Online real estate service OpenDoor raises $210M Series D despite risky financing model
  TechCrunch
  This afternoon, Norwest Venture Partners announced that it led a massive $210 million Series D investment round in OpenDoor. With the new capital, the startup is looking to expand the usage of its marketplace platform for buying and selling real estate ...and more »
  
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• Bay Area real estate: Sales sluggish, but prices rise - The Mercury News

  01-12-2016 02:03
  
  The Mercury News
  Bay Area real estate: Sales sluggish, but prices rise
  The Mercury News
  Median price of a home in the Bay Area in October was $675000, up 3.8 percent from the previous month, but sales drop 5.4 percent.and more »
  
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• [video] Treasury secretary nominee Steve Mnuchin: Undoing Dodd-Frank "top priority"

  01-12-2016 00:14
  
  The news of President-elect Donald Trump selecting Steve Mnuchin as Treasury secretary is barely a day old but that isn’t stopping Mnuchin from making a lot of significant public statements on housing. On top of dropping a bombshell about the future of Fannie Mae and Freddie Mac, he also discussed his thoughts on Dodd-Frank in an interview with CNBC.
  
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