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Risks of nonbank mortgage sellers and servicers revisited

Housing Wire

In a comprehensive study of mortgage market liquidity, Liquidity Crises in the Mortgage Market , several well-known academics provided compelling evidence for “liquidity vulnerabilities associated with nonbanks.” These were 2000-2003, 2004-2008Q2, 2008Q3-2011, and 2012-2015.

Sellers 414
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Consumer protection is what title insurance is all about

Housing Wire

Limited housing supply and a continuation of high home prices in many markets nationwide in 2023 restricted many first-time homebuyers from entering the housing market and finding their dream homes. In fact, for many new buyers entering the market this year, this will be the first time they ever hear the words “ title insurance.”

Insurance 432
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Ishbia gets NBA Board of Governors’ blessing to buy the Phoenix Suns

Housing Wire

The seller is Robert Sarver, managing partner of Suns Legacy Holdings , which owns the Phoenix Suns and Mercury. The executive acquired both teams in 2004. But, amid a shrinking mortgage market, UWM had a market cap of about $7 billion as of Tuesday afternoon. The deal gave the combined company a valuation of $16.1

Valuation 347
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Ishbia pledged UWM shares worth $4.6B to secure two loans prior to NBA deal

Housing Wire

The seller of the Suns Legacy Holdings , which owns the Phoenix Suns and Mercury, was Robert Sarver. The executive acquired both teams in 2004. The Bloomberg Billionaires Index shows Ishbia’s fortune dropped by $3.4 billion after the pledged shares were removed from his net worth calculation.

Sellers 353
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Lift the ban on lenders providing down payment assistance on FHA loans: Ted Tozer

Housing Wire

Under the FHA Modernization Act of 2008 , sellers, lenders and others with a financial interest in a real estate transaction are prohibited from providing DPA to FHA borrowers. Since lender grants have limited funding, the programs could be restricted to specific income levels and priority markets, the paper noted.

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Bay Area team bolts Compass for Side

Housing Wire

Created in 2004 by Barr Haney and Whitney Potter, OWN Marin generated $381 million in 2020 sales volume, the agent team reported, on 153 deal sides, meaning that the median home in which they represented seller or buyer was priced at $2.8

Brokerage 370
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Lamacchia Realty Opens in Fall River and Enters Bristol County Market

Lamacchia Realty

Right Choice Real Estate has been a dominating force in the Bristol County market for decades. They are experts in the local market and made a name for themselves through providing excellent service. It will also expand Lamacchia’s reach in the Rhode Island market. Billion in real estate, with over 500 Agents.

Realty 69