Real Estate

Ready Capital merging with Owens Realty Mortgage

Companies say combination will help grow commercial lending operations
Ready Capital, a real estate finance company that originates, acquires, finances and services small- to medium-sized balance commercial loans, including agency multifamily, investor and bridge, is set to grow its lending platform through a merger with Owens Realty Mortgage.
Read More

Here’s how much Zillow is paying to get into the mortgage business

Company reveals cost of Mortgage Lenders of America acquisition
Zillow’s stock tanked on Wednesday after the online real estate giant released softer-than-expected guidance about the company’s expectations for the near-term, but that wasn’t the only big piece of news that Zillow released. Zillow also disclosed, for the first time, exactly how much it is paying to get into the mortgage business.
Read More

Maxine Waters promises change if selected to lead Financial Services Committee

Plans to spotlight affordable housing
During the midterm elections Tuesday, Democrats took control of the House, while Republicans kept the Senate. As current ranking member, it is likely that Waters will take over as chairwoman of the Financial Services Committee. And she is already making promises for change, if she is selected to lead.
Read More

Number of equity-rich properties soars to new high

14.5 million mortgaged properties have 50% or more equity
The number of mortgaged properties in the U.S. that are equity-rich has soared to 14.5 million – a new high, according to the latest report from ATTOM Data Solutions. The report shows that 25.7% of all properties with a lien are equity-rich, meaning the homeowner has at least a 50% equity stake.
Read More

Homeownership investment company Unison expands reach

New partnership makes 5% down program available to more homebuyers
Unison Home Ownership Investors aims to give homeowners and buyers access to cash for the opportunity to share in their home appreciation. In business for more than a decade, the company has been a pioneer in the homeownership investment category. Now, it’s growing into new markets through a new partnership with Goldwater Bank.
Read More