Overall Mortgage Lending Down, Though HELOCs See Boost

Overall residential lending activity dropped 32% YOY, the fastest decline in eight years, according to ATTOM’s Q1 U.S. Residential Property Mortgage Origination Report. The report found that 2.71 million mortgages secured by residential property were originated in Q1 2022. This is a drop from Q4 and the fourth consecutive quarter of declines. Refinances were down 22% and purchase mortgages fell 18% quarter-over-quarter. Lenders originated $892.4 billion in loans in Q1, down 17% from Q4 and 27% YOY. The quarterly dip in dollar volume was the largest in five years, and the annual dip was the largest in eight years. Declining refis drove the declines, with only 1.45 million residential loans refinanced during Q1 2022, down 22% from Q4 and a…

Divvy Homes Joins zavvie’s Brokerage Marketplace

Divvy Homes and zavvie have teamed up to bring Divvy’s rent-to-own program to zavvie’s expanded brokerage marketplace, the companies announced in a statement. Divvy Homes, a property-technology startup valued at $2 billion, provides a rent-to-own buying option to real estate brokers and agents. Through the program, buyers pay rent on a home to Divvy, part of which is put aside to save for a downpayment. When buyers have saved enough for a 10% downpayment, they can then buy the home from Divvy. The program is currently available in 16 major metros. “The path to homeownership is more challenging today than ever before,” said Divvy Homes Co-Founder and CEO Adena Hefets. “Divvy is leveling the playing field by accelerating one’s ability…