Brena Swanson is the Digital Reporter for HousingWire.com, providing expert coverage on Millennials, lending and housing. Brena joined the HousingWire news team in February 2013, also serving in the roles of Reporter and Content Specialist. Brena graduated from Evangel University in Springfield, Missouri. Follow Brena on twitter at @BrenaSwanson.
Mortgage brokers took a major hit after the financial crisis, vacating their individual businesses and fleeing to the security of working for a bigger company. However, a new initiative announced by the National Association of Mortgage Brokers and United Wholesale Mortgage is designed to regrow the mortgage broker channel. The KickStart program offers grants to loan originators aspiring to open their own mortgage shops. Looking to start your own company? Check the details inside.
Despite the negative stigma that surrounds mobile homes, it doesn’t mean the manufactured houses don’t have a role to play in the housing process, especially when it comes to affordability. Would you buy one?
Now more than half a year into 2016, and the California Association of Realtors’ predictions that a shortage of available inventory and continued high costs would limit improvements in 2016 are coming true. And looking at the latest CAR report, it appears to be getting to Realtors.
The new low down payment programs launched as a way to loosen up the credit box for first time homeowners since the credit box tightened significantly after the financial crisis.But as the credit box loosens, the risk of mortgage fraud heightens, as seen in the report. There needs to be a balance.
In his ninth and final report, Joseph Smith, monitor of the JPMorgan Chase Residential Mortgage-Backed Securities Settlement, credited Chase with more than its required $4 billion of consumer relief obligation. The settlement dates all the way back to claims that Chase, Bear Stearns and Washington Mutual packaged and sold bad residential mortgage-backed securities to investors before the financial crisis.
After the financial crisis, the government unleashed a wave of new regulation; a move that left credit unions constantly fighting to make sure they don’t drown in the aftermath. The latest speech from CFPB Director Richard Cordray comes off as persuasive, trying to get credit unions to see all the good the rules do for them, but that's not the vibe credit unions received. Is TRID a win for credit unions?
The sad end of Brangelina took over the media, as the same world that watched them fall in love watched them fall apart. Now that the couple is splitting, there’s a lot of details left to hash out. One major area that they have a lot of money invested in: Their real estate collection.
Mortgage applications erased all of the previous week’s gains, falling from one week earlier. The report before this included an adjustment for the Labor Day holiday, while this week's report accounts for one of the biggest increases in a string of lackluster results.
As one of the first to posts its third-quarter results, homebuilder Lennar’s tough quarter shed light on what will likely unfold for its rivals as well. The big item weighing on the builder’s earnings: Labor shortages.
PHH will cut one-third of its local workforce in Amherst, New York, where it currently employs 294 people. The cuts are a result of a reduction in some of its mortgage servicing business for HSBC and a shift in origination work from Amherst to Florida.
The winners of our Insiders award are people who get things done, who are known throughout their companies as the “go-to” person in their department or division. They provide expertise in areas as diverse as operations, compliance and client services, but also have a reputation for going above and beyond their assigned roles to help out their colleagues, their companies and their clients.
In May of 2016 Airbnb had almost 1.4 listings on the site and raised its revenue projection for this year to more than $900 million. But the site impacts more than just hotel chains. As more investors, not just homeowners, use the site to rent out spare rooms — and even spare couches — it strains the supply of rental houses.
A funny thing happened while the mortgage process became more automated. Rather than reduce human interaction, which some skeptics anticipated, automation technology is in fact having the opposite effect. It is enabling mortgage lending to become a people-first business once again.