By KIMBERLEY HAAS Leaders at Guild Mortgage have partnered with the National Association of Hispanic Real Estate Professionals as part of their commitment to diversity and inclusion. The association is dedicated to advancing sustainable homeownership for the Hispanic community in America with a network of over 40,000 professional members and 100 local chapters nationwide. Jorge Montoya, a branch manager at Guild in Reno, Nevada, recently sat down with The Mortgage Note. He said the key to improving Hispanic home ownership is education. “We’ve really focused on educating the Latino clientele about it’s not just getting a mortgage, but it’s getting a mortgage with a plan, and what is that plan? Is this going to be a forever plan? Is this…
By KIMBERLEY HAAS The National Fair Housing Alliance and 20 fair housing organizations throughout the country have reached a landmark $53 million agreement to resolve claims that Fannie Mae treated homes it owned in majority-Black and Latino communities unfavorably. Lisa Rice, President and CEO of NFHA in Washington, D.C., said in a statement that Monday’s settlement brings hope to underserved neighborhoods in 39 metropolitan areas. “Black and Latino consumers were actively targeted by predatory subprime mortgage lenders in the run-up to the 2008 Financial Crisis and, as a result, homes in Black and Latino neighborhoods were respectively 2 and 2.5 times more likely to be foreclosed than homes in White communities. Millions of homeowners in Black and Latino communities lost their homes,…
By KIMBERLEY HAAS Millennials keeping the market hot, racial bias affecting home appraisals, and automated valuation technology were discussed on Tuesday during a webinar designed to address what mortgage professionals should expect in 2022 and beyond. Jeremy Sicklick, CEO and Co-Founder of HouseCanary, Inc., predicted millennials would generate demand in the housing market over the next ten years. “Effectively, demand will continue to exceed supply,” Sicklick said. “As we look forward, really over the decade, I mean, we are very bullish on housing, and that comes back to just the sheer number of Millennials and household formation that’s going to occur. There’s just a massive amount of demand out there.” Founded in 2013, HouseCanary in San Francisco, Calif., is a…
