There are too many big houses on the market, and it's a problem
There are scores of huge homes across the Southern U.S. that are simply sitting on the market, and sellers are settling for massive price cuts in order to move on with their lives. What gives? Blame the Boomers. Hordes of retirees with easy access to credit built their late-in-life dream homes across the Sunbelt in the early 2000s, only to discover that these huge, high-maintenance abodes didn’t exactly make for ideal living in their Golden Years.
LoanCare appoints new chief information officer
LoanCare, a ServiceLink company, recently announced Sudhir Nair joined the company as its executive vice president and chief information officer. LoanCare President Dave Worrall said given Nair’s expertise, the company is confident that he will help take the business to the next level.
Marketer Intel: Jim Anderson at Stearns Lending on margin compression, M&A and what's next
We recruited 10 marketing leaders from some of the top lenders in the industry to serve on the advisory board for our engage.marketing summit and now we’re interviewing each one to find out more about their perspective on the industry and what they see coming in the future. First up is Jim Stearns, CMO at Stearns Lending, who tells us the biggest challenge facing mortgage marketers.
Yardi reports rent growth steadily increasing
Average multifamily rents increased $2 in February to $1,426, according to the latest Yardi Matrix national multifamily report. The report noted that demand for rentals isn’t showing any signs of slowing down, bolstered by low unemployment and growing wage growth.
CFPB's Kraninger reverses Mulvaney's changes to advisory boards
It appears Kathy Kraninger is determined to leave her mark on the CFPB, nixing yet another move made by her predecessor Mick Mulvaney. On Thursday, the new CFPB director announced that she is changing the rules surrounding the Consumer Advisory Board and other committees, reversing actions Mulvaney had taken less than a year ago to limit the committees.
Realogy to roll out AI tools for real estate professionals
Residential real estate giant Realogy has debuted as suite of AI tools for agents and brokers that it hopes will reshape the future of real estate. At its RGX conference in Las Vegas this week, Realogy introduced a number of innovative tools that it’s planning to roll out this year, including some that leverage artificial intelligence to make the job easier.
PeerStreet expands product suite with Residential for Rent loans
PeerStreet, an online marketplace for real estate-backed loans, has launched Residential for Rent loans, enabling borrowers to secure long-term financing on residential properties for rent. PeerStreet Co-Founder and CEO Brew Johnson said the company was excited about expanding its marketplace beyond bridge loans, and that the move is a natural progression as the company increases its transaction volume with institutional investors.
First American: Dwindling inventory threatens potential home sales growth
Although potential existing-home sales rose marginally in February, a lack of inventory now threatens future growth, according to First American’s Potential Home Sales Model. First American Chief Economist Mark Fleming said the housing market continues to underperform its potential, but shows signs of promise leading into the spring home-buying season.
[WATCH] Mortgage lenders, this is what a recession could mean for the housing market
Watch HousingWire’s Alcynna Lloyd speak with Lakeside Bank’s Todd Probasco about the housing market’s changing landscape. See what these two have to say about what an economic slowdown could mean for the mortgage industry.
Fannie Mae names two additions to its board of directors
Fannie Mae has announced the appointment of Karin Kimbrough and Brian Brooks to its board of directors, two heavy-hitters with legit banking, tech and legal expertise. Kimbrough works as assistant treasurer for Google, while Brooks is chief legal officer at Coinbase Capital.