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  • Real EstateMultifamily

    Median asking rent continues climbing

    Is a combination of high rents and shifting demographics driving a move from renting to buying? The latest data from the Census Bureau shows that may be exactly what’s happening. On Thursday, the Census released its quarterly report on residential vacancies and homeownership. And the report had some good news and bad news, depending on which industry you’re in.
  • Keyhouse
    Real Estate

    Here are Q1 2018's homeownership drivers

    Hispanics, Millennials, vacancies

    The homeownership rate was not statistically different from last year in the first quarter of 2018. That said, the homeownership rate did increase slightly, in some demographics more than others, and these were some of the driving factors.
  • Yellow-thought-bubble
    Lending

    Quicken Loans in the Winner’s Circle: There are 3 types of mortgage customers

    How to get them to close quickly and efficiently

    In the Winner’s Circle is a one-on-one podcast with Jacob Gaffney, the Editor-in-Chief of HousingWire and a top player in the mortgage community who is crushing it, from a business perspective. In this newest episode, Jacob speaks to David Schroeder, SVP of Quicken Loans Mortgage Services. Here, David breaks down potential homeowners into three different types of buckets and describes the methods to get them to close, quickly and efficiently. 
  • Ask-the-underwriter
    Lending

    Ask the Underwriter: Are DACA recipients eligible for FHA loans?

    Here are the requirements

    On Wednesday, a federal judge ruled that the protections for Deferred Action for Childhood Arrivals program recipients must stay in place and that the government must resume accepting new applications for the program. This is great news for the Dreamers! But what does it mean for DACA borrowers who are looking to buy a new home this spring? This week, Underwriter Dani Hernandez provides a walk through of the FHA’s guidelines and explains the documentation needed to get your DACA borrowers into a new home using FHA financing.
  • Hud-building
    Real Estate

    HUD proposes raising rent for people receiving federal housing subsidies

    HUD Secretary Ben Carson touting “Making Affordable Housing Work Act”

    Claiming that the current system of providing federal housing subsidies to low-income renters is “convoluted” and “unsustainable,” the Department of Housing and Urban Development is proposing sweeping reforms to its housing assistance programs. The main tenet of the proposal is raising the rent on roughly half of those who currently receive housing subsidies.
  • Cash_house
    Lending

    Genworth cuts its mortgage insurance rates

    Markets compete: FHA vs. PMI

    Genworth Mortgage Insurance announced Wednesday it is reducing its national monthly and single premium borrower-paid mortgage insurance rates. Here are the details on the new rates, and what it means for the mortgage insurance market.
  • Cfpb
    Lending

    Mick Mulvaney and the long, slow death of the CFPB

    Long live the BCFP?

    [Commentary] The Consumer Financial Protection Bureau is dead. Did you know that? No, the agency that everyone in the financial services industry loves to hate isn’t totally gone, at least not yet… but the CFPB as you knew it is dead. The bureau’s cause of death? Mick Mulvaney.
  • Cfpb
    Lending

    CFPB considers ending public access to bank complaints

    “I don’t see anything in here that says I have to run a Yelp for financial services sponsored by the federal government," Mulvaney says

    A new report from the Wall Street Journal says the Consumer Financial Protection Bureau is considering ending the public's access to its complaints database for financial companies. “I don’t see anything in here that says I have to run a Yelp for financial services sponsored by the federal government,” Mulvaney told an audience at the American Bankers Association's conference while holding up a copy of the Dodd-Frank Act.
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This month in
HousingWire magazine

Cover Story
April 2018

The 2018 HW Tech100

This year’s HW Tech100 features a much more expansive landscape than ever before. Winners included heavy hitters and innovative disruptors. Even new tech players in the blockchain space are joining the party now. Other exciting developments can be seen on the identity-protection and fraud-prevention sides. But make no mistake, the name of the game in tech, these days, is lending, lending, lending.

Feature

How mortgage companies are capitalizing on their greatest asset: big data

Sarah Wheeler
Sarah Wheeler
 InvestmentsLending
The evolution from a paper-based process to this era of big data is astounding. Consider that according to IBM, 90% of the world’s data has been created in the last two years. The Internet of Things — your thermostat, refrigerator, even your kid’s Barbie doll — is increasing that data exponentially. For mortgage companies, that data represents a treasure trove more valuable than the gold bars stacked in the vault at the New York Federal Reserve Bank, but only if they can figure out how to harness it for their specific business. Fortunately, scores of fintech companies are ready to help.

Commentary

The pitfalls of depending on automation in post-close valuations

Mark Melikian
Mark Melikian
 Real Estate
Accurate, trustworthy valuations require taking a deeper look. That’s why it’s important to have a valuation expert independently review every valuation report and determine whether it makes sense. The most trustworthy valuation providers have a team of highly trained reviewers on staff who diligently analyze every comparable on a valuation report and ask: “Will a potential buyer consider this property similar to the subject property?”