Real estate news

• Walker & Dunlop adds Heather McClure as VP of capital markets

  27-06-2017 23:38
  
  Heather McClure, an industry vet, will assist Walker & Dunlop in growing its capital markets platform in the Texas area and will oversee arranging debt for all types of commercial real estate properties across the country.
  
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• Americans regain confidence in June

  27-06-2017 23:17
  
  After wavering slightly the month before, Americans grew more confident in June. A new survey found consumers are more confident in current economic conditions, however, they are less sure about their short-term economic outlook.
  
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• New York Community Bank selling mortgage business to Freedom Mortgage, Cerberus

  27-06-2017 23:06
  
  New York Community Bank is getting out of the mortgage business – sort of. The bank announced Tuesday that it is selling its mortgage banking business, including its origination and servicing platforms, and the bank’s mortgage servicing rights portfolio, to Freedom Mortgage. But NYCB isn’t exiting the mortgage business entirely.
  
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• [Charts] CFPB: Here's a state-by-state breakdown of consumer complaints

  27-06-2017 22:10
  
  Mixing it up from the standard monthly complaint report, the Consumer Financial Protection Bureau’s June snapshot presented a detailed breakdown of consumer complaints in all 50 states and the District of Columbia. Check out the following charts to see which financial areas received the most complaints.
  
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• Home Prices Mount at Slower Pace

  27-06-2017 22:08
  
  Home price growth continues to mount, though at a slower pace, up 5.5 percent year-over-year in April, down from a 5.6 percent gain in March, according to the latest S&P CoreLogic Case-Shiller Indices.
  The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index’s 10-City Composite rose 4.9 percent year-over-year, down from a 5.2 percent gain in March, while its 20-City Composite rose 5.7 percent, down from a 5.9 percent gain in March. Month-over-month, the 10-City Composite r
  
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• Build a Better Listing Presentation Package With RPR®

  27-06-2017 22:07
  
  NAR PULSE—Sellers want to know if your agents’ presentations are based on their keen sense of the market, their expertise in determining value, and their ability to bring a deal to close in the shortest time possible and at the highest price. The key to your agents nailing that next listing is for them to prepare…more thoroughly, more accurately and more creatively than their competition. Show them how. Discover how.
  Save up to 25 Percent on Car RentalsNAR members get discount
  
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• Great Living on the Great Barrier Reef

  27-06-2017 22:05
  
  Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ now at blog.rismedia.com:Retirees Turning to Custom Homes to Get the Right Space
  Luxury Homes: How to Tell If You’re Getting a Fair Price
  $1 Million a Week, Starting With Quality Leads
  This ocean-front palatial property has it all, literally: views of Australia’s incredible Whitsunday Coast, stunning architecture, a private marina, and even a helipad.
  Situated in the
  
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• Robin Dickson: Meeting Challenges With Training and Technology

  27-06-2017 22:04
  
  Those who live and work in San Francisco’s luxurious East Bay understand that when a home goes on the market in the area, it doesn’t last very long, and the price is usually high.
  Robin Dickson, executive vice president of J. Rockcliff REALTORS®, has been working in the area for a long time, and has been charged with helping thousands of people find their dream home.
  “Our market is fairly consistent, but we’ve been suffering from low inventory like many others,”
  
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• Freddie Mac breaks down homeownership gap in Hispanic population

  27-06-2017 21:46
  
  The Hispanic homeownership rate continues to lag behind white homeownership, despite recent increases. In a new report, Freddie Mac explains the cause for the gap between the two populations and questions if it will narrow.
  
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• Fed fines Bank of New York Mellon for misstating capital for more than 3 years

  27-06-2017 20:49
  
  Bank of New York Mellon will pay a fine of $3 million for “unsafe and unsound practices” that led to the bank misstating its capital for more than three years, the Federal Reserve Board announced Thursday.
  
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• Crime has not dampened investor interest in Chicago real estate, analysis finds - Chicago Tribune

  27-06-2017 20:34
  
  Chicago Tribune
  Crime has not dampened investor interest in Chicago real estate, analysis finds
  Chicago Tribune
  Chicago, seen from the south over Jackson Park. Despite alarming crime, real estate investors continue to look to the city's south and west sides for opportunities. (Antonio Perez / Chicago Tribune). Gail MarksJarvisContact ReporterChicago Tribune.
  
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• CFPB fines four California credit repair companies for misleading consumers

  27-06-2017 19:50
  
  The Consumer Financial Protection Bureau announced Wednesday that it is fining four California-based companies for misleading consumers and charging illegal fees for credit repair services. According to the CFPB, Prime Credit, IMC Capital, Commercial Credit Consultants, and Park View Law, and several executives in charge of the various companies will pay more than $2 million for the alleged illegal actions.
  
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• Former Cowboys star Emmitt Smith departs real estate firm he ... - Dallas News (blog)

  27-06-2017 19:46
  
  Dallas News (blog)
  Former Cowboys star Emmitt Smith departs real estate firm he ...
  Dallas News (blog)
  Former Dallas Cowboy's star Emmitt Smith is departing from the real estate brokerage company he formed.But Smith plans to continue to be active in...
  Emmitt Smith Ditches Eponymous Real Estate Company for New, Eponymous Real Estate CompanyDallas Observerall 10 news articles »
  
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• Two senators consider breaking up Fannie, Freddie

  27-06-2017 18:45
  
  Two senators are working on a bipartisan option for Fannie Mae and Freddie Mac reform. Sources close to the situation explained the senators are currently considering an option that would break up the two mortgage giants.
  
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• Hey homebuilders, Canadian lumber tariffs could jump nearly 30%

  27-06-2017 18:34
  
  U.S. Secretary of Commerce Wilbur Ross announced a new proposed Canadian lumber tariff that would stack on top of the tariff announced back in April on Canadian softwood lumber imported into the U.S. Why is this important? Softwood lumber is the type primarily used in home construction. As a result, the National Association of Home Builders says the steep increase would have a drastic financial impact on homebuilders and homebuyers.
  
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• Can anything slow down rising home prices?

  27-06-2017 17:35
  
  Not surprisingly, the Case-Shiller home prices index showed an increase in home prices in April from the previous month and last year as competition grows among homebuyers. Now, experts explain home prices will be slow to react to any market changes, and will not change their upward trend anytime soon. However, at least one economist disagrees.
  
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• Home prices climb 5.5% in April

  27-06-2017 15:51
  
  Home prices increased once again in April, though at a slower pace than the previous month. The S&P Dow Jones Indices’ managing director explained home prices cannot continue to increase without limit. But will home price gains gently slow or will they crash and take the economy down with them?
  
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• A New Real Estate Play for Income Investors - WSJ - Wall Street Journal (subscription)

  27-06-2017 14:00
  
  Wall Street Journal (subscription)
  A New Real Estate Play for Income Investors - WSJ
  Wall Street Journal (subscription)
  Risk-averse investors looking for income soon will have a new option to consider: ground leases. iStar Inc., a New York real-estate investment, financing and ...and more »
  
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• Here's how to invest in real estate — think Warren Buffett-style, not shopping malls - MarketWatch

  27-06-2017 13:28
  
  MarketWatch
  Here's how to invest in real estate — think Warren Buffett-style, not shopping malls
  MarketWatch
  But a herd of Fed speakers — including Janet Yellen — could break the pre-holiday spell and deliver a last-minute shake-up as this year's first half wraps up today. Stocks don't necessarily deserve a boost, with the Dow and S&P on track for their ...
  
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• Witness Says Real-Estate Magnate Schorsch Played Role in Fraud Scheme - Wall Street Journal (subscription)

  27-06-2017 13:03
  
  Wall Street Journal (subscription)
  Witness Says Real-Estate Magnate Schorsch Played Role in Fraud Scheme
  Wall Street Journal (subscription)
  The chairman of a real-estate empire involved in one of the biggest accounting scandals in years participated in a key conversation the night executives finalized a quarterly earnings report at the center of the case, according to the government's star ...
  
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• High-profile deals disguising commercial real estate market's ... - New York Post

  27-06-2017 08:57
  
  New York Post
  High-profile deals disguising commercial real estate market's ...
  New York Post
  Manhattan's office market could be headed for trouble despite today's solid-seeming condition and euphoria over big chunks of space being gobbled up by...and more »
  
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• Real estate mogul shares the most common mistake house flippers make - CNBC

  27-06-2017 02:00
  
  CNBC
  Real estate mogul shares the most common mistake house flippers make
  CNBC
  After experimenting with a career in the music industry, Sidney Torres changed course and started working for a construction company. It was then that, with help from his grandmother, he bought his first property in an up-and-coming neighborhood in his ...and more »
  
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• Real estate mogul shares the most common mistake house flippers ... - CNBC

  27-06-2017 02:00
  
  CNBC
  Real estate mogul shares the most common mistake house flippers ...
  CNBC
  Self-made millionaire Sidney Torres says real estate investors often skip one critical step.and more »
  
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• Feds looking into Jane Sanders over real estate deal - BurlingtonFreePress.com

  27-06-2017 01:02
  BurlingtonFreePress.com
  Feds looking into Jane Sanders over real estate deal
  BurlingtonFreePress.com
  Corrections/clarifications: The investigation is looking into the conduct of Jane Sanders. An Associated Press headline on an earlier version of this story misstated the target of the inquiry. MONTPELIER - Federal investigators are looking into the ...
  Jane Sanders Lawyers UpPOLITICO Magazine
  Bernie and Jane Sanders, under FBI investigation for bank fraud, hire lawyersCBS News
  Bernie Sanders | T
  
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• One year later, here is how Fifth Third's no-down mortgage program is performing

  27-06-2017 00:04
  
  This time last year, Fifth Third Mortgage revealed its exclusive Down Payment Assistance Program that offered 3% of the purchase price in down payment assistance, leaving the borrower to put zero down on the home. Since no-down mortgage programs are still hard to come by, HousingWire visited with the lender for an update on the program to see how it’s performed. Spoiler alert: It’s performing well.
  
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