Millennials Are Willing To Co-Buy In Order To Afford Their Dream Home

As first-time buyers struggle to find an affordable home, many Millennials say they are willing to co-buy in order to access bigger mortgages. Pairadime, a new fractional ownership solution with a focus on co-buying, surveyed 1,000 Millennials who say they don’t want to wait for marriage to co-buy a home. Instead, they want to co-buy with their parents, friends, or other family members in order to afford a house in current market conditions. Only 4% of respondents said they would wait until marriage to buy with another person. “During the pandemic, people have been renting and they may have wanted more space, and so they looked at, perhaps, their roommate and decided, ‘Let’s go buy a home together,'” Jessica Lautz,…

Suzy Lindblom Appointed Arc Home COO

Non-QM lender Arc Home LLC has appointed Suzy Lindblom as Chief Operating Officer, the company announced in a press release. “Arc Home is well-positioned for steady growth through innovative proprietary products and technology, and I’m thrilled to have been chosen to be the Chief Operating Officer. My goal is to create a seamless customer-focused experience for our clients and homebuyers throughout the entire mortgage loan process,” Lindblom said. Lindblom is an industry veteran with a strong past history of leadership. Prior to Arc Home, she served as COO for First Guaranty Mortgage, and has held the same position at Planet Home Lending. She has also served as Managing Director of Operations at Stearns Lending. She has earned many industry awards,…

Active Listings Rose At A Record-High Rate In July

Active listings posted a record-high growth rate in July, an indication that balance is returning to the housing market, Realtor.com reported. July’s Monthly Housing Trends Report found that the national inventory of active listings rose by 30.7% YOY, while the total inventory of unsold homes, including pending listings, increased for the first time since September 2019. This means there were 176,000 more homes actively for sale on a typical day in July than at the same time last year. However, the bump in total unsold inventory amounted to only a modest 3.5% due to a dip in pending inventory. And listings are still far behind their pre-pandemic and even early pandemic levels. Active listings were 15.7% below 2020 and 45.4%…

Radius Opens In-House Mortgage Firm

Real estate brokerage Radius has launched an in-house mortgage firm in California, the company announced in a press release. Radius Mortgage is intended to provide real estate professionals and California homebuyers with a simple, transparent solution for mortgage lending. The software allows agents to track and update documents and information on their client dashboards. It also features a dedicated team for supporting agents. “We’re building Radius Mortgage from the ground up to be a premier lender in California,” said Sam Kasle, Radius’ Chief Revenue Officer.  “For far too long, the lending process has been frustrating and burdensome for agents and their clients alike. By keeping cost structures low and bringing transparency to the entire lending process, we hope to help…

Maura Cohen Promoted To VP, Director Of Mortgage Services

Maura E. Cohen has been promoted to Vice President, Director of Mortgage Services and Consumer Lending for Centric Bank and Centric Financial Corporation, the company announced. “Helping individuals and families realize their dreams of homeownership and helping them take the first step to create generational wealth and economic stability is a real passion for me,” says Cohen. “Being part of a team that is a true partner to our mortgage clients throughout their home-buying and refinancing processes makes work a pleasure.”  She moves up from her previous role as Vice President of both areas, in which she monitored mortgage originations, processing, and settlements. During her tenure, she contributed to Centric Bank’s record-breaking loan growth. Her previous experience includes working for…

Angel Oak Opens New Branches In Carolinas, California

Non-QM lender Angel Oak Home Loans has opened five new branches in three states, the company announced. South Carolina now has three additional branches, one in Charleston, led by Ed Powell, SVP of Angel Oak Home Loans’ Consumer Direct Division; one in Columbia, led by Drew Church; and one in Cheraw, also headed by Church. The other two locations are in San Marcos, CA, led by Sean Casey, SVP and Western Regional Sales Manager, and Jacksonville, North Carolina, led by Brian Mitchell, Regional Sales Manager. Angel Oak now has 52 offices across 43 states. These five new branches add to a time of growth for the company, which opened four new offices just last month. “Angel Oak is well equipped…

Seasoned Vets Join Better.com For “Next Stage Of Growth”

Multiple new executives have joined Better.com to bolster its leadership team and forge long-term growth, the company announced in a press release. Better’s biggest pulls are Sushil Sharma as Chief Growth Officer, the first for the company, and Steve Riddell as Head of Sales. Sharma is an industry veteran with two decades of experience in product management and software engineering. Prior to Better, he served as Chief Product Officer at both LendingTree and Match. “Better’s mission to make homeownership simpler, faster, and more affordable instantly drew me in,” said Sharma. “A home is much more than a place to live: it provides stability to raise a family and is one of the biggest financial assets an individual can own. I…

Waterstone Mortgage Opens New Branch In Tennessee

Waterstone Mortgage has announced the opening of a new branch in Franklin, Tennessee. The branch will be led by David Gatheridge. He brings more than two decades of mortgage lending and financial services experience to the branch.  Gatheridge’s past experience includes Branch Manager positions at Novus Home Mortgage and First Community Mortgage, and Sales Manager with loanDepot. He is a Certified Mortgage Advisor. “[T]he biggest reason I joined was due to the leadership at the top – they are ultra-sensitive and responsive to what we go through at the branch, which is how they drive growth for the organization,” Gatheridge said. He also noted that Franklin and its surrounding communities are the perfect areas to buy a home. “Franklin is…

Kelly Lee Named PNW SVP Of Production At Churchill Mortgage

Churchill Mortgage has named Kelly Lee as Senior Vice President of Production in the Northwest region, the company announced in a press release. The appointment comes as part of Churchhill Mortgage’s expansion in the Pacific Northwest. Lee will oversee the entire division, which has 30 branches, including all production. “In addition to being a natural servant leader with a proven track record of developing profitable branches in the Pacific Northwest, Kelly has been a longtime mentor to me since I first started out in this business,” said Kevin J. Hanna, President of the Churchill Mortgage Pacific Northwest Region.  “He’s an undeniable asset to the team with his attention to detail, knack for collaborative problem solving, and dedication to a people-centric…

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…