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Fintech lender LoanSnap evicted, faces financial and legal turmoil

Housing Wire

Legal and financial troubles are piling up for mortgage fintech lender LoanSnap , with the company having been recently evicted from its headquarters in Southern California. In May 2022, it launched a cloud-based portal, LoanFlow , that gives mortgage brokers and loan officers the ability to originate loans anytime, anywhere.

Legal 404
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Homebuyer assistance programs rose to nearly 2,300 in 2023

Housing Wire

A growing number of nonbank mortgage lenders have recently rolled out down payment assistance (DPA) programs to increase their origination share in a challenging mortgage environment. Most recently, loanDepot rolled out a new DPA program for Federal Housing Administration borrowers that enables them to put no money down upfront.

Landlords 495
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EasyKnock partners with FinLocker to bolster consumer financial health

Housing Wire

The FinLocker app includes a “personalized suite of tools“ designed to help consumers improve their financial health, the company explained in its announcement. This is accomplished through higher credit scores and a greater ability to save for down payments, ultimately positioning people to more easily qualify for a mortgage.

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Why it’s time for the housing industry to get serious about climate risk

Housing Wire

These losses – both insured and uninsured – have traditionally been borne by homeowners, renters, landlords, builders, and property & casualty insurance companies. And the Federal Reserve has asked the nation’s six largest banks to participate in a climate scenario analysis designed to measure and manage climate-related financial risks.

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The Fed pauses its rate hikes for now, will it last?

Housing Wire

The FOMC also said it would continue to reduce its holdings of Treasury securities and agency debt and agency mortgage-backed securities. In fact, mortgage applications picked up in the week leading up to the Fed meeting, signaling a wave of optimism. However, at Mortgage News Daily , mortgage rates were higher on Tuesday, at 7.30%.

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Here’s how to find property owners ready to sell

Housing Wire

PropStream is an online solution designed to help users comb through a multi-sourced property database to paint a holistic picture of what is going on with a property and its owner. Postal database, homeowners who are facing foreclosure or what White calls “tired landlords,” those who have owned an investment property for a long time.

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Make Your First Investment Property an Attractive and Profitable Option

Cleveland Appraisal Blog

You may also have to prove that you have enough income to cover the mortgage on all properties that you own. You can use a mortgage calculator to get a better idea of what you can afford based on the purchase amount and down payment. This should include repairing any structural damage or major systems before you think about design.

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