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Movement Mortgage names Joe Thompson as regional director

Housing Wire

Movement Mortgage , a multichannel mortgage lender, has appointed Joe Thompson as its new regional director. Founded in 2008 and based in Fort Mill, South Carolina , Movement Mortgage offers a range of products including conventional, jumbo and government-insured loans, as well as a dedicated reverse mortgage division.

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Regions Bank places $1B bet on home renovation market

Housing Wire

EnerBank funds most of its loans on its balance sheet through FDIC -insured brokered CDs; it also charges fees to the contractors. Regions, a retail lender with a footprint of over 1,300 physical offices, has dipped into specialty finance sectors before. in 2021 to $433 billion. The space remains dominated by depository banks.

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Rhode Island historian uses a reverse mortgage as an estate planning tool

Housing Wire

A proprietary reverse mortgage from Finance of America Companies (FOA) now secures the home of Rhode Island ’s honorary historian laureate after the property was returned to the owner after attempts to bequeath it to a nonprofit historical society he founded. This is according to reporting from The Providence Journal.

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How to price homes properly in a volatile housing market

Housing Wire

High-volume home sellers are in a bit of a pickle in today’s market thanks to rapidly rising mortgage rates last year. The performance gap between foreclosure sale dispositions and retail REO sale dispositions widened to 40 points in the downshifting 2022 market. If it’s not moving, change the pricing so it does move.

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The share of owner-occupants buying foreclosures has doubled — here’s why

Housing Wire

The increasing share of owner-occupant buyers is also evidence that extremely tight housing inventory is prompting more retail buyers to take on the additional challenges that come with buying a distressed property at auction. They are able to pay with cash, take on bigger renovations and provide current occupants with a graceful exit.

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Here’s What Your Mortgage Lender Wants You To Know About Buying a House Right Now

Realtor

This is creating bidding wars, offers over asking, and appraisal gaps—houses are going quickly,” says Shanon Schinkel , branch manager and mortgage lender at Homebridge Financial Services. ” And did we mention that economists expect mortgage rates to rise? “The best time to buy is when it makes sense in your life.”

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Here’s What Your Mortgage Lender Wants You To Know About Buying a House Right Now

Realtor

This is creating bidding wars, offers over asking, and appraisal gaps—houses are going quickly,” says Shanon Schinkel , branch manager and mortgage lender at HomeTown. ” And did we mention that economists expect mortgage rates to rise? Mortgage rates were at historic lows for months, but they’re beginning to edge higher.