The concept of “housing for one” is a trend we are seeing more and more in the mortgage industry as single Millenials from Generation Y begin entering the marketplace. Also trending for us mortgage originators is that as more couples from other generational groups divorce, leaving one member of the previous relationship to assume or refinance the house under their own name.
These homeowners have unique needs and need mortgages to reflect those...
The Millennials, recently deemed the next generation of homebuyers, have earned a new nickname for themselves: the Fix-It Generation.
According to a national survey released by Better Homes and Gardens Real Estate, 72% of Millennials (those born between 1982 and 2002) consider themselves just as handy — if not more so — than their parents.
Of those surveyed, 77% would prefer purposeful homes...
You may be of the camp that big banks cannot be aggressively prosecuted because they are too-big-to-fail and will take the rest of America down with them.
On the other hand, you may be someone who sympathizes with protesters on both sides of the aisle who have ranted against the special untouchable legal status that larger institutions seem to benefit from when the risk of drawn out trials and legal measures could disrupt the financial markets.
But the real...
Flashback to 2008 and you may recall the hot summer with skyrocketing gas prices that passed right before the financial markets collapsed.
What has been lost in all the financial news as of late is just how high energy prices soared in 2008, placing extreme pressures on consumers before the meltdown.
Perhaps, high gas prices were not the cause of the crisis, but they certainly put a squeeze on spending, adding to the pain.
It’s easy to forget the...
If there’s one fundamental trait that connects every analysis for the main cause of the financial crisis, it's bad mortgages.
At least, that’s what Rep. Scott Garrett, R-N.J., reiterated — twelve times — in his testimony Wednesday during a hearing on Fannie Mae and Freddie Mac’s "failures" at the U.S. Housing Financial...
With the argument for the short sale all the rage these days, foreclosures are getting a bad name. But according to data from RealtyTrac, in some markets, it really is better to buy a foreclosure.
The year-end report by RealtyTrac released in February revealed a 6% drop in sold foreclosures during the year.
Even further, foreclosure-related sales accounted for 21% of all U.S. residential sales...
A few weeks back, we announced that HousingWire was launching the Real Estate Tech:50, a list of the top 50 firms in real estate technology. See the press announcement here.
It's completely free to nominate a firm, and the deadline to submit a tech firm for consideration is this March 15.
...
The Federal Housing Finance Agency outlined the initial steps it would like to take to create a new business entity outside of Fannie Mae and Freddie Mac to serve as a platform for a new secondary mortgage market this week.
But Jay Brinkmann, chief economist for the Mortgage...
During a HousingWire webinar called "Short Sale Process with Chase Bank," vice president of short sales Bill Carr declared the lender is looking to close short sales in less than 30 days.
"We are doing everything we can to avoid foreclosure," Carr said during the exclusive webinar presentation with Bubba Mills, COO and Managing...
"I Want More Time."
Lenders/servicers are often confronted with emergency motions or petitions by borrowers on the eve of sheriff's sale or lock-out seeking continuances for more time to: be evaluated for loan modifications (though not available to borrowers in ejectment, borrowers still think they are); sell the collateral; allow their children to finish the school year; pack; or make alternate living arrangements.
In these cases, homeowners facing ejectment have done very...
