Some low- and middle-income home buyers are having a hard time getting mortgages for an unexpected reason: The loans they’re applying for are too small. This could be a great opportunity for private mortgage investors. Lenders extended about 106,000 mortgages with balances between $10,000 and $70,000 in the U.S. last year, worth $5.1 billion. That …
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Housing is poised for a significant redesign from a growing number of households looking for properties that accommodate multiple generations under one roof. Up to 41% of Americans in the market to buy a home say they’re considering accommodating an elderly parent or an adult child, according to a new survey from John Burns Real …
Barbara Barkley is 4 feet 10 inches tall. So she designed her home in Chesapeake, Va., just for herself, with all the counters and handles lowered. People told her the changes would make the house harder to sell, but she didn’t care. “I planned to live there until I died,” said Barkley, 68. Instead, she …
Binance, one of the world’s bigges cryptocurrency exchanges, announced it has been a victim of a massive security breach. The exchange said late Tuesday that hackers have run off with over 7,000 bitcoinOpens a New Window. worth an estimated $41 million after they used a “variety of techniques, including phishing and viruses,” to tab into its systems. While the thieves …
A real estate developer who owns a $150 million spec home in Bel Air, Calif., has filed a lawsuit against Zillow, claiming the portal “tainted” his property by falsely recording that it sold for tens of millions of dollars less than the asking price. However, the home was not sold and was still on the …
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If a handful of Republicans in the Senate have their way, the Consumer Financial Protection Bureau will not exist for much longer, as for at least the third time in the last few years, Republicans are trying to kill the CFPB. And just like the two previous times it’s been attempted, Sen. Ted Cruz, R-Texas, is leading …
In the first quarter of 2019, homeowners who sold their homes had owned them an average of 8.05 years, down slightly from a record high of 8.17 in the fourth quarter of 2018, reports real estate research firm ATTOM Data Solutions. Still, that’s up a 7.75 year average recorded a year ago. Among large metros …
In this webinar, SimpleNexus will explore the benefits of a single-platform experience for loan officers, borrowers, and Realtors during the loan transaction. Attendees will learn the importance of considering the experience of all three stakeholders when choosing new technology and the possible effects an implementation can have on these parties. The webinar will also give …
The CFPB announced Thursday that it is proposing new Home Mortgage Disclosure Act (HMDA) rules that would increase the HMDA reporting threshold for mortgages, meaning some smaller lenders and credit unions may not have to report their lending activities, at all. Under the current rules, lenders that originate 25 mortgages or more in a two-year …
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