Celebrity Home Loans partners with Fortuna Finance on bridge financing
Illinois-based independent mortgage banker Celebrity Home Loans has partnered with Fortuna Finance to offer bridge financing to consumers transitioning from one home to another...
EXEC SPOTLIGHT
Who’s NEXT? Get to know some of the executives in the NEXT community.
Home seller profits exceeded 50% in 2022
Home seller profits rose in 2022, topping 50% despite the slowing market. Home sellers nationwide saw a profit of $112,000 on the typical sale in 2022, up 21% from $92,500 in 2021 and up 78% from $63,000 two years ago…
Biden administration unveils plans to tackle unfair rental housing practices
The Biden administration announced that several federal agencies will focus on preventing unfair housing practices in the rental market. This is part of the administration’s new “Blueprint for a Renters Bill of Rights”…
December Rental Report: Renting costs $800 less per month than buying
A new Realtor.com report found that a typical renter in the average metro in December 2022 would pay 41.4% less monthly than a starter homeowner. That’s roughly $800 ($792, to be exact). That’s a lot of money for most families…
Better launches product offering 24-hour full-commitment letters
Fintech lender Better launched its One Day Mortgage product. This product allows customers to apply for a mortgage and receive a full mortgage commitment letter within 24 hours. The typical industry process is 30 days or longer…
Mortgage applications rise for third straight week
Mortgage rates dropped across all loan types. This is a positive sign for the upcoming spring home buying season. Refinance activity was up, but still 77% behind last year, MBA data showed…
Redfin: Housing market has started its recovery
The housing market is on its way to recovery, but buyers are returning faster than sellers. Redfin said the number of customers requesting first tours has improved 17 percentage points from the November low. The number of people…
Single women own more homes than single men across the U.S.
Who’s buying homes? All the single ladies. Despite getting paid less than their male counterparts, single women own more homes in the U.S. than single men. In fact, single women own about 2.64 million more homes than single men…
Milo launches new crypto loan product
Milo clients will be underwritten based on alternative data, allowing for more individuals to qualify. Crypto loans offered by Milo can be used for many purposes. And they can be disbursed within hours once compliance is approved…
Guaranteed Rate rolls out new program for underserved buyers
First-time homebuyers in specific regions of six metropolitan areas — Atlanta, Baltimore, Chicago, Detroit, Memphis, and Philadelphia — can access the program. Eligible homebuyers can use the assistance toward a purchase anywhere…
Goldman Sachs predicts brighter days for the housing market
Goldman Sachs published research this week. Its economists expect housing to be less of a “drag” on the economy going forward, reports the Wall St. Journal. Rates are expected to stabilize. They also predict home prices will continue to fall…
National delinquency rate rose but prepayments dropped to 3rd consecutive low
The national delinquency rate rose to 3.08% in December but finished the year 9% below its December 2021 level. Prepayment activity fell to 0.39% to close the year. The single month mortality rate hit its third consecutive record low since 2000….
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Celebrity Home Loans partners with Fortuna Finance on bridge financing
Illinois-based independent mortgage banker Celebrity Home Loans has partnered with Fortuna Finance to offer bridge financing to consumers transitioning from one home to another...
Home seller profits exceeded 50% in 2022
Home seller profits rose in 2022, topping 50% despite the slowing market. Home sellers nationwide saw a profit of $112,000 on the typical sale in 2022, up 21% from $92,500 in 2021 and up 78% from $63,000 two years ago…
Biden administration unveils plans to tackle unfair rental housing practices
The Biden administration announced that several federal agencies will focus on preventing unfair housing practices in the rental market. This is part of the administration’s new “Blueprint for a Renters Bill of Rights”…
December Rental Report: Renting costs $800 less per month than buying
A new Realtor.com report found that a typical renter in the average metro in December 2022 would pay 41.4% less monthly than a starter homeowner. That’s roughly $800 ($792, to be exact). That’s a lot of money for most families…
Better launches product offering 24-hour full-commitment letters
Fintech lender Better launched its One Day Mortgage product. This product allows customers to apply for a mortgage and receive a full mortgage commitment letter within 24 hours. The typical industry process is 30 days or longer…
Mortgage applications rise for third straight week
Mortgage rates dropped across all loan types. This is a positive sign for the upcoming spring home buying season. Refinance activity was up, but still 77% behind last year, MBA data showed…
Redfin: Housing market has started its recovery
The housing market is on its way to recovery, but buyers are returning faster than sellers. Redfin said the number of customers requesting first tours has improved 17 percentage points from the November low. The number of people…
Single women own more homes than single men across the U.S.
Who’s buying homes? All the single ladies. Despite getting paid less than their male counterparts, single women own more homes in the U.S. than single men. In fact, single women own about 2.64 million more homes than single men…
Milo launches new crypto loan product
Milo clients will be underwritten based on alternative data, allowing for more individuals to qualify. Crypto loans offered by Milo can be used for many purposes. And they can be disbursed within hours once compliance is approved…
Guaranteed Rate rolls out new program for underserved buyers
First-time homebuyers in specific regions of six metropolitan areas — Atlanta, Baltimore, Chicago, Detroit, Memphis, and Philadelphia — can access the program. Eligible homebuyers can use the assistance toward a purchase anywhere…
Goldman Sachs predicts brighter days for the housing market
Goldman Sachs published research this week. Its economists expect housing to be less of a “drag” on the economy going forward, reports the Wall St. Journal. Rates are expected to stabilize. They also predict home prices will continue to fall…
National delinquency rate rose but prepayments dropped to 3rd consecutive low
The national delinquency rate rose to 3.08% in December but finished the year 9% below its December 2021 level. Prepayment activity fell to 0.39% to close the year. The single month mortality rate hit its third consecutive record low since 2000….
