Housing Wire
DECEMBER 14, 2020
What a crazy year we have all been through. Last year, I visited Japan, London, Puerto Rico, Oregon and Las Vegas twice. This year I had fewer visits than that to my local barber and I was ecstatic to be there. This was the year we relearned to appreciate small things. Adventure and excitement were out, and safety was in. On the economic front, COVID-19 was the mother of all exogenous shocks.
Housing Wire
DECEMBER 14, 2020
The total number of loans in forbearance decreased from 5.54% to 5.48% as of Dec. 6, according to the Mortgage Bankers Association. Fannie Mae and Freddie Mac loans in forbearance decreased to 3.26% – an 8-point improvement. Ginnie Mae loans in forbearance decreased 21 points to 7.68%. Despite a dramatic point improvement, borrowers are still seeking relief, according to Mike Fratantoni, MBA’s senior vice president and chief economist. “New forbearance requests reached their highest level
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Housing Wire
DECEMBER 14, 2020
The Lone Star State has long been attractive to businesses of all kinds. The combination of warm weather, lots of space to build and the lack of a state income tax has been drawing companies for years. But this year, with tech companies and tech workers fleeing traditional tech hubs in droves, the trend has only accelerated, especially in the state’s capital, Austin.
Housing Wire
DECEMBER 14, 2020
Homebuyer , an Ohio-based software startup offering digital mortgages to first-time home buyers, announced on Monday it had snagged $1.4 million in a seed round from private investors. The company was founded in 2019 by Dan Green, under the mission to make homeownership more inclusive and less expensive for first-time borrowers. An ex-software engineer, Green is also a former loan officer and founder of The Mortgage Reports, a mortgage education website that was eventually acquired by Full Beake
Housing Wire
DECEMBER 14, 2020
Opendoor announced last week that it has expanded its iBuying services in Provo and Ogden, Utah; Rochester, Minnesota; Lakeland, Winter Haven, Sarasota, Deltona, and Ormond Beach, Florida; and Oxnard, Thousand Oaks, and Ventura, California. The iBuyer also said that homebuyers in Tucson, Arizona; Charlotte, North Carolina; Houston; San Antonio; and Austin, Texas, can tour and purchase any home on the market, via Opendoor.
Housing Wire
DECEMBER 14, 2020
Nexsys Technologies , a subsidiary of Rocket Companies , launched its Clear HOI platform for all mortgage lenders on Wednesday – a new product it says will cut homeowners’ insurance verification time to mere minutes. The platform will allow lenders to automate the verification process rather than requiring manual confirmation from both parties.
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Housing Wire
DECEMBER 14, 2020
With the onset of COVID-19, the already-siloed communication channels between mortgage lenders, real estate agents, title agents and underwriters became even more strained as standard methods of in-person communication were no longer an option for many. In addition to the struggles of maintaining clear lines of communication, consumer safety became a major concern in real estate technology as the risk wire and title fraud also began to climb as loan volumes increased.
Housing Wire
DECEMBER 14, 2020
Accessory dwelling units (ADUs) have increased in popularity exponentially since the 1950s and are considered by some industry experts to be one solution to the affordable housing crisis. Now, as remote working and virtual classrooms have become the “new normal” for 1 in 4 American workers and roughly 93% of households with school-aged children in light of the COVID-19 pandemic, such units are being eyed as a solution to the problems those scenarios can bring as well.
Housing Wire
DECEMBER 14, 2020
The Federal Housing Finance Agency (FHFA) has released its annual report on single-family guarantee fees (g-fee) charged by Fannie Mae and Freddie Mac for 2019 to package home loans into securities that are sold to bond investor. The two GSEs use the fees to pay for administrative costs, to cover when borrowers miss payments and as a hedge against significant losses because of loan defaults.
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