Housing Wire

FEBRUARY 6, 2025

Finance a loan, and you may lose money. Avoid financing, and you risk missing out on a sales growth opportunity. This loan type offers up to $2 million in financing. Equity solutions Home renovations and debt consolidation are two avenues toward financial prosperity for borrowers. Fortunately, theres a solution.

Loans 343

Loans Mortgages Equity Construction 343

Housing Wire

APRIL 27, 2021

Finance of America intends to acquire Parkside Lending ‘s third-party origination channel operation for $40 million, the publicly traded lender and servicer announced Tuesday. Our TPO business is a part of our long-term growth strategy,” Bill Dallas, president of Finance of America Mortgage, said in a statement.

Finance 370

Finance Lending Mortgages Renovation 370

Housing Wire

FEBRUARY 8, 2022

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

Renovation 370

Renovation Development Banks Sales 370

Housing Wire

SEPTEMBER 19, 2024

Heartland Bank , the leading reverse mortgage lender in Australia and New Zealand , will rebrand its dedicated reverse mortgage division from “Heartland Finance” to “Heartland Bank” following a recent acquisition and a repositioning of its offerings. “We billion AUD, or roughly $1.2 billion USD.

Mortgages 448

Mortgages Banks Finance Branding 448

Housing Wire

FEBRUARY 3, 2023

HELOCs have continued to set the stage as flexible, helpful products that provide quick access to financing for a multitude of uses including home renovations, debt consolidations or emergency purchases. Additionally, 65% of the total respondents are currently planning or have plans to renovate their homes within the next two years.

Renovation 397

Renovation Fixed-rate mortgage Equity Finance 397

Housing Wire

JULY 19, 2024

Headquartered in Southern California , AscentDS will focus on providing customized financing solutions to single-family and multifamily housing developers and investors across the nation. Founder and CEO Robert Wasmund has a deep background in the residential construction and bridge lending industry. “We now known as Rithm Capital.

Construction 459

Construction Development Loans Lending 459

Housing Wire

MARCH 3, 2021

The programs include MAXEX Sustainable, which allows borrowers to finance green energy renovations into their 30-year fixed mortgage, and allows for residential solar panels and geothermal units to be amortized in the loan at the point of purchase or refinance. Both programs are offered for loan values from $400,000 to $3 million.

Loans 468

Loans Banks Residential Finance 468

Housing Wire

JUNE 9, 2022

Renovation financing startup RenoFi now offers a fixed-rate home renovation loan, which allows homeowners to borrow as much as 90% of their home’s after-renovation value — a move to target homeowners who don’t qualify for a home equity line of credit (HELOCs). Presented by: Auction.com.

FHA loan 370

FHA loan Renovation Equity Loans 370

Housing Wire

FEBRUARY 12, 2024

In AFR, it’s adding the New Jersey-based, full-service independent mortgage bank that has direct, wholesale and correspondent lending divisions. Since its foundation in 1997, Proprietary Capital has developed a platform to invest in the U.S. residential mortgage market and housing-related assets.

Lending 457

Lending New Construction Construction Finance 457

Housing Wire

JULY 14, 2022

Senior officials at the Department of Housing and Urban Development , which houses the FHA, said today during a press briefing that it would focus on improving financing for manufactured homes and revamp its renovation financing. Another area of focus for the administration is improving its financing for manufactured housing.

Title 397

Title Land Finance Renovation 397

Housing Wire

JULY 5, 2022

Specialty finance company Redwood Trust Inc. CoreVest provides financing to real estate investors across the country and as of late June boasted more than $15 billion in loans closed and some 125,000 units financed, according to the lender. billion single-family and multifamily loans nationwide.

Finance 418

Finance Investor Loans Lending 418

Housing Wire

NOVEMBER 23, 2021

The Neighborhood Homes Investment Act (Neighborhood Homes) would begin addressing these challenges by developing or renovating 125,000 affordable homes in economically distressed communities. This cost gap all-too-often prevents the renovation of affordable houses that need a great deal of work.

Renovation 476

Renovation Construction Development Finance 476

Housing Wire

JULY 23, 2021

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. Fix’n’flip. We’re very excited to enter the fix’n’flip space.

Marketing 459

Marketing Banks Lending Loans 459

Housing Wire

SEPTEMBER 24, 2021

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. Through this program, Acra aims to remove many of the financing hurdles typically faced by those in the fix-and-flip sector. Waning agency business.

Lending 459

Lending Finance Loans Renovation 459

Housing Wire

MARCH 7, 2024

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

Construction 535

Construction Closing costs Renovation Title 535

Housing Wire

NOVEMBER 10, 2023

And that offers an incredible opportunity for banks and non-banks alike to improve their digital channels to better support home equity lending. Bank and non-bank lenders are now confronting the urgency to improve their digital experiences to better support home equity lending.

Lending 475

Lending Equity Banks Loans 475

Housing Wire

JANUARY 31, 2023

Up to 30% of the 1,000 largest independent mortgage banks projected to disappear by the end of 2023 via sales, or failures. Reich and others explored opportunities for transitioning to different lenders, and narrowed it down to a small handful of companies that were looking to hire employees from Finance of America. “Go

Loans 418

Loans Mortgages Loan Officer Pre-approval 418

Housing Wire

FEBRUARY 16, 2022

Examine previous transactions with a lender, such as funding renovations on investment property, to better understand the lender’s experience with diverse real estate projects. In comparison to larger banks or even a local credit union, private lending is more reliant on relationships.

Purchase and sale agreement 397

Purchase and sale agreement Investor Hard money loan Lending 397

Housing Wire

APRIL 18, 2023

MISMO , the real estate finance industry’s standards organization and a subsidiary of the Mortgage Bankers Association , plans to launch a working group that will create standards for Electronic Home Equity Lines of Credit (eHELOC). Overall, HELOCS accounted for 20.7% of all loans in the fourth quarter of 2022, nearly five times the 4.6%

Equity 368

Equity Lending Finance Loans 368

The Close

NOVEMBER 25, 2024

Set Up Your House Flipping Business Operations Many believe flipping houses is just about buying, renovating, and selling. This means picking the proper legal structure, like an LLC, registering your business, and setting up separate bank accounts. However, laying down a solid business foundation for lasting success is essential!

House Flipping 98

House Flipping Renovation Finance Investor 98

Housing Wire

MARCH 28, 2022

With that said, with tight margins of around 5% , time is short, meaning human value creation (renovations big or small) are usually foregone in favor of an algorithmically determined window dictating when to buy or flip. To de-risk transactions, tailored add-ons are important. Andy Bodrog is Partnerships Director, Property at Cover Genius.

Marketing 397

Marketing Title Closing costs Technology 397

Housing Wire

AUGUST 1, 2022

credit card balances in the first quarter were $841 billion, $71 billion higher than the same period in 2021, according to a report from the Federal Reserve Bank of New York. Depository banks have dominated home equity lending for years, but nonbank lenders seeking volume are increasingly targeting the space. ” U.S.

Equity 397

Equity Loans Lending Banks 397

Housing Wire

APRIL 20, 2022

Homepoint’s “New Build program” connects homebuilders with business purpose construction financing through in-region mortgage brokers, with loan amounts up to $4 million per unit or $25 million per project. It’s also assessing a variety of other products to service a market that is now heavily purchase-focused.

Loans 397

Loans Lending Construction Banks 397

Housing Wire

MARCH 12, 2021

Now that you know where the most expensive cities are, you’re probably wondering where you can live without breaking the bank. It’s important for first-time homebuyers to consider their finances when purchasing a home. Not only do home prices vary per city, but so does gas, school tuition, renovators and contractors.

Renovation 397

Renovation Banks Finance Marketing 397

Housing Wire

JULY 14, 2022

The role of renovators. It turns out local investors are also more efficient than banks and government agencies at renovating and reselling homes. A deeper dive into the data helps to explain this surprising result. I buy local. But what about the foreclosed properties that don’t end up in the hands of owner-occupants?

Renovation 370

Renovation MLS Investor Loans 370

Housing Wire

DECEMBER 12, 2022

The mortgage lender’s overall origination volume dropped 54% from January to September compared to the same period in 2021, according to data from Inside Mortgage Finance. Bank Home Mortgage and Planet Home Lending. Bloomberg reported in August that the bank will likely shrink or eliminate the channel, citing unnamed sources.

Marketing 418

Marketing Lending Banks Loans 418

Housing Wire

MAY 3, 2022

For instance, if the homeowner has only withdrawn $50,000 of the HELOC for a renovation or downpayment on a new home, the person would only be paying interest on the $50,000. Once approved for a HELOC, they can access the line of credit as needed, as opposed to having cash sitting in a savings bank from a refi. homeowners.

Equity 418

Equity Fixed-rate mortgage Principal Mortgages 418

Housing Wire

JULY 3, 2023

PrimeLending , a Texas-based retail mortgage bank, aims to expand its market share by growing within its existing footprint in a margin-thinning environment. billion, according to data from Inside Mortgage Finance. The lender brought on 100 loan officers in June, bringing the total number of LOs to about 800. Nearly 92% of U.S.

Loan Officer 370

Loan Officer Marketing Pre-approval Fixed-rate mortgage 370

Housing Wire

MAY 20, 2022

If your home is more of an investment home, investors often want a home already outfitted with tenants or an underpriced home, so there’s room in the pricing to cover the cost of renovations. You can’t make a short sale without getting bank approval first. This means you don’t have to do any renovations or even very much negotiating.

Short sale 435

Short sale Investor Banks Agents 435

Housing Wire

JUNE 1, 2022

For instance, if the homeowner has only withdrawn $100,000 of the HELOC for a renovation or downpayment on a new home, the person would only be paying interest on the $100,000. Once approved for a HELOC, they can access the line of credit as needed, as opposed to having cash sitting in a savings bank from a refi. homeowners.

Equity 397

Equity Fixed-rate mortgage Principal Loans 397

The Close

NOVEMBER 25, 2024

When looking into your finances, consider the following factors: Closing costs: These are generally 2% to 5% of the property’s sales price and include lender fees, title insurance, property insurance, and property taxes. The longer renovations take, the higher your carrying costs will be. Pro Tip: Overestimate your expenses.

Purchase and sale agreement 105

Purchase and sale agreement Property Management Hard money loan Investor 105

Housing Wire

FEBRUARY 10, 2022

CE instructors say that the NMLS – owned and operated by a subsidiary of the Conference of State Bank Supervisors – requires them to annually recite and cover regulations such as the Truth in Lending Act, Equal Credit Opportunity Act, and the Real Estate Settlement Procedures Act (RESPA). . Cutting class.

Loan Officer 397

Loan Officer Loans Lending Banks 397

HomeLight

JULY 11, 2024

Are you searching for financing options for your next real estate investment in San Jose? Whether you’re eyeing a fixer-upper in Willow Glen or planning to invest in rental properties near Santana Row, hard money lenders in San Jose offer a speedy and flexible financing option. What is a hard money lender?

Finance 115

Finance Hard money loan Home sale contingency Loans 115

Housing Wire

JULY 8, 2024

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. But one year earlier, the Bank of New York Mellon Trust reportedly initiated a foreclosure on the property.

Mortgages 430

Mortgages Loans Design Renovation 430

HomeLight

JULY 25, 2024

Whether you’re a seasoned house flipper or a homeowner looking to leverage your property’s equity, knowing how to finance your next move is important. One option to consider is a hard money loan , a type of financing that offers flexibility and speed, ideal for competitive markets like the Bay Area. How does a hard money loan work?

Finance 115

Finance Hard money loan Home sale contingency Loans 115

HomeLight

AUGUST 28, 2024

Whether targeting a rehab project in Over-the-Rhine or looking at commercial spaces downtown, finding the right financing is key. Unlike traditional lenders, hard money lenders focus on the property’s after-repair value (ARV) —the estimated property value after renovations. How does a hard money loan work?

Finance 116

Finance Hard money loan Home sale contingency Loans 116

HomeLight

JUNE 30, 2024

Hard money loans offer a flexible financing option outside of traditional banks, perfect for those who need quick cash, have limited savings, or face credit issues. Unlike traditional banks that prioritize your credit score and income, hard money lenders in Orange County focus on the value of the property used as collateral.

Hard money loan 112

Hard money loan Finance Debt-to-income ratio Home sale contingency 112