By NICOLE MURRAY The holiday season can be a tricky time of year in the real estate industry. For many agents, business slows down because people generally don’t want to sell, buy, or move during peak celebrations. But whether it be a new job or a life update, buying and selling during the holiday…
Eric Francis has been named VP of Finance at Columbus-based Go Mortgage, the lender announced in a press release. “I couldn’t be more eager to get started with the GO Mortgage team. Being part of a forward-thinking company that has a diversified range of products and sales channels is truly invigorating,” Francis said. He brings…
By KIMBERLEY HAAS Democratic lawmakers introduced a bill this week that would restrict tax breaks for corporate investors that purchase large quantities of homes. If passed, the Stop Predatory Investing Act would prohibit investors who acquire 50 or more single-family homes for rental purposes from deducting interest or depreciation on those properties. U.S. Sen. Sherrod Brown (D-Ohio),…
Competition for limited inventory has led to surprisingly hot home prices this spring season. Zillow’s latest market report found that home values grew 1.4% between April and May, the highest since June 2022. This is cooler growth than the previous two springs, but more than in 2018 or 2019. The typical home is valued at…
By CHUCK GREEN To home sellers who agonizingly watched the prices of their abodes recede recently, leaving a nasty gash in profits, there’s little to say but “ouch.” Want a touch of solace? Apparently, the waters are rippling with plenty of others in the same predicament. A first quarter 2023 U.S. Home Sales Report released…
By KIMBERLEY HAAS Attendees at the Mortgage Bankers Association’s National Advocacy Conference shared concerns about housing affordability, trigger leads, and changes to the loan-level price adjustment matrix. The conference was held last week at the JW Marriott in Washington, DC. MBA members learned about the political and market landscapes on Tuesday before speaking with their…
By CHUCK GREEN As the traditional spring homebuying season begins, a lack of inventory, high interest rates, and economic uncertainty due to banking troubles have dominated the news. So what can people expect? Rick Sharga, president and CEO of CJ Patrick Company in California, told The Mortgage Note that it’s “unlikely to be a banner…
By KIMBERLEY HAAS Leaders at Rocket Pro TPO are extending their promotion on 30-year conventional purchase loans at or under $200,000 as they gear up to be more competitive in that market this year. During an IGNITE: Live! webinar on Monday, Executive Vice President Mike Fawaz announced that they are continuing their 37.5 BPS credit…
By KIMBERLEY HAAS Officials at the U.S. Department of Justice announced on Tuesday that they reached a $9 million agreement with an Ohio-based bank to resolve redlining allegations. Redlining is an illegal practice in which lenders avoid providing credit services to individuals living in certain communities because of their race, color, or national origin. It…
By KIMBERLEY HAAS Industry leaders are sharing their thoughts as 2022 winds down and they are expressing gratitude despite challenges in the current market. Bill Banfield, EVP of Capital Markets at Rocket Mortgage in Detroit, Michigan, said he appreciates the mental stimulation of navigating a tough market because people are forced to get creative in…
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