Some say there is no spark in today’s economy. Others claim we’ve hit a speed bump. Nonetheless, everyone will agree the housing market is light years ahead of where it stood a year ago. But has the recovery cooled?
Bank of America is in the crosshairs of an advocacy organization as it attempts to prove the bank is neglecting REO properties in minority neighborhoods. But the mortgage industry has a different take on the issue—namely that crime is making it difficult for institutions to maintain these homes.
Riding on the coattails of two very impressive third-quarter earnings reports from homebuilders, Lennar and KB Home, real estate-related stocks closed the day with positive movement on the HW 30 index.
U.S. District Judge Jesse Furman denied Wells Fargo’s motion to dismiss several statutory claims made against the bank by the federal government. The original case attempts to get the bank to pay for losses on FHA-insured loans that eventually turned sour.
When Tim Mayopoulos was vetted prior to joining Fannie Mae nearly 10 years ago in the role of general counsel, board members explained it would only take 12 to 18 months for the company to turn around. That isn’t what it took. It took putting Mayopoulos in charge, years later, to turn the company around. And that’s exactly what he did.
HousingWire began highlighting the unsung heroes of the mortgage finance industry three years ago, recognizing those who continue to make the dream of homeownership a reality for Americans nationwide. Our editorial board selected each of these 40 professionals for their ability to not only transform their companies, but the industry as a whole.
Hispanics have huge purchasing power in the U.S. and the rate of homeownership among this population has grown every year since 2014, reaching 46.2% in 2017. In fact, Hispanics are the only demographic in the U.S. to increase homeownership rates for each of the past three years and are driving gains in the real estate market overall. By understanding the unique needs and expectations of the Hispanic community and positioning yourself to fulfill those needs, real estate professionals can become an important servicer of this consumer demographic and experience related growth.