Tue.May 16, 2023

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The Homepoint post-mortem: How one of America’s largest mortgage lenders went bust 

Housing Wire

Ann Arbor, Michigan-based Home Point Capital did not experience the traditional ceremony to ring the Nasdaq Stock Market bell when the company went public in early 2021. Open and closed ceremonies usually occur at the Nasdaq MarketSite Studio in Times Square, but that changed in the wake of the COVID-19 pandemic. Instead, Home Point had a virtual ceremony, with pictures of smiling employees and a message from CEO and founder Willie Newman transmitted onto an enormous screen in Times Square. 

Mortgage 393
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The (Real) Secret

The Appraiser Coach

I’ve never loved The Secret, as a book or a movie. Maybe I missed something, but the primary message I came away with after reading.

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Fintech Maxwell acquires mortgage solutions provider LenderSelect

Housing Wire

Wells Fargo -backed mortgage fintech Maxwell has struck a deal to acquire mortgage solutions provider LenderSelect Mortgage Group from Blue Ridge Bank. The financial terms of the transaction have not been disclosed. The deal, announced on Tuesday, expands Denver, Colorado-based Maxwell’s secondary market trading platform and brings hundreds of new clients to the company’s other solutions.

Mortgage 389
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Offices are in trouble. Can turning them into housing save downtown?

Inman

Office-to-residential conversions are on the upswing as remote work destabilizes commercial real estate nationwide. "Everything is on the table," affordable housing advocate Janan New told Inman.

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APM, in expansion mode, hires back its former CFO

Housing Wire

California-headquartered lender American Pacific Mortgage (APM) has hired back its former CFO Prateek Khokhar. Khokhar will be filling the CFO position, which was previously held by Paul Hubbard for more than three years. Hubbard – who has been in the mortgage industry for 38 years – officially retired earlier this month, according to a LinkedIn post from Bill Lowman, vice chairman at APM.

Retail 379
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San Diego Homes & Estates pivots into 200-agent mega-team at eXp

Inman

Founded in 2004 and averaging $1.5 billion in sales, the former Windermere Homes & Estates franchisee is hanging a shingle with eXp Realty, broker-owner Rich Johnson announced on Monday.

Realty 156

More Trending

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9 ways to get new clients without having to door-knock

Inman

Door-knocking can feel invasive, and some agents might even find it a little intimidating. Coach and trainer Darryl Davis offers a variety of great alternatives with solid ROI.

Clients 152
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From 70 Hour/Week Burnout to Getting Paid to Buy Properties

BiggerPockets

A 36% return on your FIRST rental property? In today’s housing market? That sounds almost impossible.

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First home? No problem! How to guide first-time homebuyers

Inman

In today’s highly competitive real estate market, first-time homebuyers need more assistance than ever, writes trainer and author Bernice Ross. Here you'll find an exhaustive list of resources that you can use to help them win.

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Which mortgage type are Canadians choosing in the current environment?

Mortgagebroker News

The BoC's rate hikes over most of 2022 played a major role in shifting market dynamics

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Vanessa Villela of ‘Selling Sunset’ fame returns to The Agency

Inman

After two years with The Oppenheim Group, Villela's return to The Agency where she began her career felt like a homecoming, the Mexican-American actress-turned-real-estate-agent told People.

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Annual inflation rate rises in April

Mortgagebroker News

It marks the first time inflation has accelerated since last June

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Don’t miss out on listings: Anthony Lamacchia’s sell/buy roadmap

Inman

Get ready to elevate your real estate game, maximize your opportunities and close more deals with valuable guidance from Anthony Lamacchia as he shares his insights on Inman Access.

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Inflation and the labour market: Are they trending in the right direction?

Mortgagebroker News

The latest eagerly anticipated inflation figures are due to arrive today

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HGTV star Page Turner joins Coldwell Banker Exclusive

Inman

The real estate investment expert on HGTV's "Fix My Flip" will lead Coldwell Banker Exclusive's newly created affiliate, iKONIC Sports and Entertainment, to educate and empower clients in the sports and entertainment industries on real estate investing, the company said.

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RISMedia Publishes Article on New Regional Vice President of Florida

Lamacchia Realty

RISMedia published an article discussing the promotion of Shane Bronson of Lamacchia Realty. Shane was recently promoted to the Regional Vice President for Florida. The article discusses Shane’s prior experience at the company that has prepared him to take this new role head on. Read the entire RISMedia article here. RISMedia Publishes Article on New Regional Vice President of Florida May 16, 2023 No Comments RISMedia published an article discussing the promotion of Shane Bronson of Lamac

Realty 41
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Compass CEO Robert Reffkin: FOMO is fueling ‘pent-up’ demand

Inman

Reffkin said Tuesday, during a Needham Technology & Media Conference session, that housing is in a "sideways" market — but after last year, homebuyers are now afraid prices will go even higher.

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BMO’s Porter: Housing market has finally “found a floor”

Mortgagebroker News

The market is exhibiting a steady increase in strength over the past few months

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Milestones swipes right, selects Plunk to enhance platform

Inman

Plunk's home renovation value analysis is a smart plug-in for Milestones, which assists homeowners in managing home ownership decisions, according to a company announcement.

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How did Canadian rent rates fare in April?

Mortgagebroker News

Strongest growth was registered in markets with intensified immigration levels

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9 pros and cons: Are mobile home parks a smart investment in 2023?

Inman

Is investing in a mobile home park — a designated lot for communities of mobile or manufactured homes — truly lucrative? Clever Real Estate's Luke Babich looks at the benefits and disadvantages.

Investing 156
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Are renovations set to spike amid continuing supply shortages?

Mortgagebroker News

Housing starts are up – but supply is still at a 20-year low

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5 tips for what landlords should include in a rental lease agreement

Inman

Landlords will want to make sure to cover their bases when it comes to rent payments, security deposits and liability. Here are some tips for what to include in a rental lease agreement.

Landlords 148
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Insights Into Buying a Home Based on the School District

Will Springer Realtor

Home buyers often seek out local insights from their real estate professionals on everything from restaurants and shopping, but everyone should tread carefully when exchanging their impressions about schools. Some buyers are focused on rankings and can be dead set on moving into a certain school district. “They’re not going to be swayed into going to another town because they can find more value,” says Gerry Bourgeois, project manager with Massachusetts-based Lamacchia Realty, quoted by Seattle

Buyers 36
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Are you a cow or a buffalo?

Inman

How do you respond when the storms of life come? Are you all about avoidance, or do you embrace the opportunity to face challenges head-on?

Agents 156
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Exec on why tech solutions should be at the core of every broker’s business

Mortgagebroker News

The impact of these tools on the mortgage professional's quality of service cannot be overstated

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How am I ever going to land my 1st listing?

Inman

Although new agents worry about contracts and contingencies, their real focus needs to be on lead gen for that all-important first listing. Christy Murdock reached out to Inman Contributors for their best advice on landing listings.

Contracts 155
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Canadian fintech closes latest multimillion-dollar financing round

Mortgagebroker News

Funding will propel the company's further push into reverse mortgages

Finance 68
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Maxwell’s LenderSelect deal grows footprint with community banks

Inman

The deal to acquire LenderSelect from Blue Ridge Bankshares will also enable "significant expansion" of the secondary market trading platform, Maxwell Capital.

Marketing 148
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Infrastructure Spending's Impact on Where We're Moving

Eppraisal

Infrastructure spending has been a hot topic in recent years, with governments around the world investing in projects aimed at improving transportation, communication, and other essential services. One question that often arises is whether infrastructure spending can influence where people choose to live. We'll explore this question and examine the potential impact of infrastructure spending on migration patterns.

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Get unstuck: Bring your ideas and goals to life in 6 steps

Inman

Inman Connect is the perfect place and time to brainstorm new ideas, and a creative sprint can help you execute. We’ve got you covered!

Business 151
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Homebuilders are feeling pretty good right now

Housing Wire

Homebuilder confidence is continuing to trend upward this spring, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report, released Tuesday. In May, home builder confidence in the market for newly built single-family homes rose to an index value of 50, an increase of five points from the April reading.

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Vornado Realty Trust enters ‘eye of economic storm’ with $2.6B debt

Inman

Real estate investment trust Vornado is attempting to calm investors after CEO Steve Roth signaled plans to pause its Penn Station projects and launch a $200 million share repurchase program.

Realty 116
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Lack of Existing Inventory Boosts Builder Confidence to Key Marker

Eyes on Housing

Limited existing inventory, which has put a renewed emphasis on new construction, resulted in a solid gain for builder confidence in May even as the industry continues to face several challenges, including building material supply chain disruptions and tightening credit conditions for construction loans. Builder confidence in the market for newly built single-family homes in May rose five points to.

Inventory 177