Remove Finance Remove Investors Remove Lending Remove Renovations
article thumbnail

Change Lending to join Federal Home Loan Bank of San Francisco

Housing Wire

Nonbank mortgage originator Change Lending will become a member of the Federal Home Loan Bank of San Francisco (FHLB-SF). We welcome a partnership with the FHLB-SF to enhance our strength and reach as America’s CDFI,” said Steven Sugarman , founder of the Change Company, the parent company of Change Lending. “We

Lending 341
article thumbnail

SFR and fix-and-flip investors expect a better market in 2024

Housing Wire

The risky operating environment has been marked by volatile, high interest rates (with 30-year fixed rates now hovering around 7%), high financing costs and moderating rental rates as an influx of multifamily rental properties continues to come online across the country. In 2023, the landscape for home flipping across the U.S.

Investors 428
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Fix and flip market struggles as financing costs rise

Housing Wire

In fact, ATTOM reports that one in 12 home sales in the nation last year, or 8.4%, involved fix and flip investors — whose strategy is to acquire, renovate (fix) and then resell (flip) the properties. A year ago, we were offering to lend 85% loan-to-cost or 90% loan-to-cost, and that’s down to like 75% loan-to-cost.

Finance 347
article thumbnail

Opinion: Investors play key role in providing affordable housing options

Housing Wire

Investors provide capital necessary for many families to fulfill their aspirations of living in a house whether renting or owning. How can investors help with homeownership? Let’s switch gears and consider how investors help with home ownership. But, who are these investors? To be precise, the average U.S.

Investors 388
article thumbnail

Proprietary Capital completes acquisition of AFR, hires new COO

Housing Wire

A group of investors led by Colorado-based fund manager Proprietary Capital has completed the acquisition of multichannel lender American Financial Resources (AFR), the parties announced on Monday. AFR offers agency, nonagency and government lending products. The financials of the deal were not disclosed.

Lending 324
article thumbnail

Finance of America to go public before IPO window closes

Housing Wire

Finance of America on Monday will become the latest lender to make its debut on the New York Stock Exchange. To coincide with the IPO, institutional investors have pledged to make a private investment of $250 million in the company. According to Inside Mortgage Finance, FOA was the 26th largest mortgage originator by volume in 2020.

Finance 257
article thumbnail

Redwood Trust finalizes acquisition of lender Riverbend 

Housing Wire

Specialty finance company Redwood Trust Inc. The acquisition of Portland, Oregon-based Riverbend and its subsidiaries, announced originally in late April, is expected to fit in well with Redwood’s existing business-purpose lending platform, CoreVest. billion single-family and multifamily loans nationwide.

Finance 359