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Knox Financial launches new investment property products

Housing Wire

Boston-based real estate investment proptech Knox Financial announced Monday it is launching new products on its platform that will help homeowners transform their homes into investment properties. Each Knox product includes guidance from a property wealth advisor, who estimates a property’s investment potential.

Investing 371
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First Savings Bank to cut 100-plus mortgage jobs across multiple states

Housing Wire

It has three national lending programs: single-tenant net lease commercial real estate, SBA lending and residential mortgage banking. An entrepreneurial community bank headquartered in Jeffersonville, First Savings operates 15 depository branches within southern Indiana. The bank reported a net income of $2.3

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Make Your First Investment Property an Attractive and Profitable Option

Cleveland Appraisal Blog

How can you capitalize on your first investment property? Whether your first investment property will be a rental or a flip, your goal is to walk away with more money than you put into it. Keep in mind that investment homebuyers will be required to put down a minimum of 15% to secure financing, according to Lending Tree.

Investing 332
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Pennymac pulls back on 2021 plan to hire 300+ workers in North Carolina

Housing Wire

In 2021, Pennymac vowed to create 322 jobs in Wake County, North Carolina and invest $4.3 million into Pennymac Loan Services, its mortgage lending subsidiary, to establish a mortgage fulfillment production center in Cary, North Carolina. Pennymac invested more than $1.5 million over the course of 12 years.

Investing 300
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Rural America is losing affordable housing at a crisis pace

Housing Wire

After those government-supported mortgages terminate due to maturity or prepayment, the owners can, and many do, convert their multifamily properties to market-rate rents, or sell them to new owners that are not committed to providing housing that is affordable to struggling low-income rural tenants.

Tenants 474
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Top Guaranteed Rate LO Shant Banosian joins board of Healing Realty Trust

Housing Wire

The nation’s top loan officer Shant Banosian joined the board of directors at Healing Realty Trust , a healthcare-focused real estate investment company. As we continue to grow our portfolio, we’ll use equity as well as debt … a lot of the banks that he works with also do commercial lending. That’ll be a big part.

Realty 328
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How should appraisers approach short-term rentals?

DataMaster

. — also known as short-term rentals (STRs) — to claim STR income as part of the borrower qualifications side of the lending decision. However, the GSEs did not make a parallel change to the property qualification side of the lending decision. This imbalance in the lending equation has created the situation we find ourselves in today.

Appraisal 148