Real Estate

Real estate crowdfunding startup RealtyShares hits hard times, halts new investments

Company unable to secure new operating capital to continue growth
Everything was going swimmingly for RealtyShares just over a year ago. The real estate crowdfunding startup had just purchased one of its biggest rivals, Acquire Real Estate, and had plans to grow its investment in commercial and multifamily real estate. But now, RealtyShares has fallen on hard times and will be laying off much of its staff and stop accepting new investments on its platform.
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Appraisal experts: Here’s how you can best prepare your borrower

Set expectations, and if they must appeal, bring solid comps
Borrowers often have considerable expectations when it comes to their home’s estimated value, and navigating these can be tough for both the loan officer and the appraiser. Experts from two appraisal management companies recently discussed how to best prepare a borrower for an appraisal the National Reverse Mortgage Lenders Association conference in San Diego, and here’s what they said.
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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.
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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.
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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.
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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.
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