Wealth Management Real Estate, Nov, 7, 2022–Jenn ElliotBy assuming existing loans, investors can mitigate the risk from rising interest rates and ultimately underwrite a greater leveraged return, market participants say.https://www.wealthmanagement.com/multifamily/multifamily-investors-fight-rising-rates-pursuing-properties-assumable-debt?
Category: Top National News
Why are So Many Fintechs Laying People Off?
American Banker, Nov. 7, 2022–Penny Crosman (subscription)Chime, Varo, Upstart, Stripe, Blend, MX, Brex are among the financial technology companies that have laid off more than 10% of their workforce. Is …
Redfin Sinks After Real Estate Company Is Downgraded Over ‘Flawed’ Model
Bloomberg, Nov. 7, 2022–Breanna BradhamRedfin Corp. sinks to a fresh record low after an Oppenheimer analyst downgraded the stock and said the real estate company’s model is “fundamentally flawed.”https://www.bloomberg.com/news/articles/2022-11-07/redfin-sinks-as-oppenheimer-downgrades-on-flawed-model?srnd=premium#xj4y7vzkg
Non-QM Lender Athas Capital Group To Close
National Mortgage Professional, Nov. 7, 2022–David KrechevskyDeciding to “bow out like gentlemen,” Athas Capital Group Inc., a direct-lending platform for the Non-QM market, announced last week that it plans to …
Mortgage Borrowers Lost a Record Amount of Equity in 3Q
National Mortgage News, Nov. 7, 2022–Bonnie Sinnock (subscription)The home equity buffer that the mortgage industry is counting on to help sustain loan performance experienced a record drop in the third …
Housing Market Braces For Rising Layoffs ‘Soon’ As Mortgage Lenders, Home Sellers Cut Thousands Of Jobs
Forbes, Nov. 7, 2022–Jonathan PoncianoThough the labor market’s overall resilience continues to puzzle experts, the plight of rising interest rates, which are spurring a historic plunge in home sales, could …
New American Funding, No Longer in Growth Mode, Lays Off 240
HousingWire, Nov. 7, 2022–Connie KimCalifornia lender New American Funding issued pink slips to 240 employees last week, bringing the total cut this year to nearly 1,000. The force reductions come …
Pandemic Led to Sharp Spike in Black, Asian and Latino Homeownership
Washington Post, Nov. 1, 2022–Abha Bhattarai, Alyssa FlowersHelped by pandemic-era stimulus programs, Black, Latino and Asian households saw the sharpest increase in homeownership in 2021 since the Great Recession, when …
G-Fee Hikes May Be Needed To Pay for Lost LLPA Revenue
Inside Mortgage Finance, Nov. 7, 2022–Dennis HollierThe Federal Housing Finance Agency’s recent decision to make targeted cuts to certain loan-level price adjustments charged by Fannie Mae and Freddie Mac may …
Guild Holdings Expects Market Share Gains as Industry Originations Dip
National Mortgage News, Nov. 4, 2022–Andrew Martinez (subscription)Guild Mortgage reported a third-quarter uptick in profits on servicing gains, but also a sizable decline in origination volume, albeit one that was …