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Could renovated foreclosure resales help solve the nation’s increasingly complex affordable housing puzzle?

Housing Wire

In 2021, McCormick resold two renovated properties that she originally purchased at foreclosure sale on Auction.com in her hometown of Dayton, Ohio. Most of the renovated foreclosure resales came from local community developers like McCormick who sell a handful of renovated foreclosures a year in communities they care about. “I

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How non-QM loans boost mortgage originator for success in 2025

Housing Wire

Also, DSCR five- to nine-unit loans are designed for larger multi-family homes. Equity solutions Home renovations and debt consolidation are two avenues toward financial prosperity for borrowers. Deephavens Equity Advantage Closed End Second is a second mortgage designed for one purpose assisting borrowers in borrowing their equity.

Loans 293
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Flagstar Bank offers brokers direct access to seasoned specialty lending experts and powerful tech solutions

Housing Wire

In response, many brokers are relying on extra support, and Flagstar Bank offers exactly that. Flagstar also offers brokers the opportunity to participate in the Flagstar FLEX monthly webinar series designed to help them better their businesses. We’re well-capitalized and committed to mortgage, particularly the broker channel.

Lending 369
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3 solutions to a gridlocked housing market

Housing Wire

3-month bank statement. For example, look at Acra’s 3-month bank statement loan program, said Keith Lind, executive chairman and president of Acra. The 3-month bank statement program is ideal for borrowers with nontraditional income streams. Jumbo products.

Marketing 459
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Biden to call for first-time homebuyer tax credit, construction of 2 million homes

Housing Wire

In the address, the president will call for a $10,000 tax credit for both first-time homebuyers and people who sell their starter homes; the construction and renovation of more than 2 million additional homes; and cost reductions for renters. The White House estimates that this “will raise an additional $3.79

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Restoration of historic Frank Lloyd Wright home complicated by reverse mortgage

Housing Wire

An historic home in Chicago ’s Austin neighborhood designed by architect Frank Lloyd Wright in 1903 is in serious need of repairs and renovations, but an existing reverse mortgage loan is complicating the process of initiating the work. The home, designed by Lloyd Wright for real estate developer Joseph Jacob (JJ) Walser Jr.,

Mortgages 413
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How one lender is solving problems in the fix-and-flip space

Housing Wire

The company has created a new vertical of loans and an entirely new LOS designed just for borrowers looking to purchase a home and renovate it to put back on the market. Because of this, there isn’t endless documentation to analyze — no W2s, bank statements or tax returns. “It It makes for a much faster underwrite,” Lind said.

Lending 458