Ben Lane is the Editor for HousingWire. In this role, he helps set a leading pace for news coverage spanning the issues driving the U.S. housing economy and helps guide HousingWire's overall direction. Previously, he worked for TownSquareBuzz, a hyper-local news service. He is a graduate of University of North Texas.
Title insurance companies in 12 of the nation’s largest markets will now have to provide federal authorities with substantial details on all real estate deals of $300,000 or more if the buyer is paying all cash. The requirement comes at the hands of the Treasury Department’s Financial Crimes Enforcement Network, which is significantly expanding its investigation into whether foreign buyers are using shell companies to buy U.S. real estate in order to launder money.
Last year, Redfin rolled out a new service called "Redfin Concierge," where the online brokerage will "deep clean" and stage a home on a homeowner’s behalf to aid in the sale of the property, all for a 2% listing fee. The program originally launched in Los Angeles and Washington, D.C., before expanding into San Francisco in February of this year. And now, Redfin is bringing the enhanced listing program to its own backyard of Seattle.
Freddie Mac has long allowed certain borrowers to use “sweat equity” to cover a portion of their down payment, but now, the GSE will allow borrowers to use “sweat equity” to cover their entire down payment. Under the expansion, certain borrowers will be able to “sweat equity,” materials provided or labor completed by a borrower to improve a house before closing on the property, as their full down payment.
Black Knight CEO Anthony Jabbour is about to have a new job, but he’s not leaving the growing financial technology giant. Rather, he’s tacking a new job title onto his existing responsibilities – running Dun & Bradstreet. The move is part of recently announced buyout of Dun & Bradstreet, which will see the company purchased for $5.38 billion in cash and taken private by a group of investors, including CC Capital, Cannae Holdings, and Thomas H. Lee Partners.
Multifamily mortgage originations continued trending towards another record-breaking year with another strong quarter, the Mortgage Bankers Association reported Monday. Multifamily originations were up year-over-year and quarter-over-quarter. But by how much?
Last week, the biggest groups in housing called on the Senate to bring Kathy Kraninger's nomination to run the CFPB to a vote. And it looks like they're about to get their wish. Plus, did Amazon's HQ2 move kill more than 1,000 units of affordable housing? And, Monopoly for Millennials. Yes, it's real. And it's spectacular.
A former senior vice president at Bank of America and her husband will each spend at least a year in prison after admitting in court that they conspired to steal $2.7 million from the bank in a scheme involving fraudulent donations to nonprofits.
Aiming to provide more stability and integrity to the mortgage-backed securities market, Ginnie Mae on Friday released a number of new rules for mortgage servicers and issues of Ginnie Mae securities. Click through for the full details.
Rock Holdings, the parent company of Quicken Loans, is getting into the dictionary and thesaurus business. Literally. Rock Holdings announced this week that it acquired Dictionary.com and Thesaurus.com, websites that boast approximately 540 million pageviews per month. But why, one might ask? Read on.
The city of Boston has new rules surrounding short-term rentals that are set to go into effect on Jan. 1, 2019. According to Airbnb, Boston’s short-term rental rules violate the Constitution, multiple federal laws, and Massachusetts state law. Airbnb also claims the city's rules threaten short-term rental sites with “draconian” punishments should they violate the city’s rules.
The first thing you notice about New American Funding's Rick and Patty Arvielo is how much they like each other. That might seem like a foregone conclusion when you meet a married couple, but when that couple also runs an incredibly successful business together, I imagine it could get complicated. Read on to find out more about how this successful couple manages their life, and business, together.
For the first time since 1981, our industry is experiencing a rising interest rate environment. Some people may assume that the current market shift means their business will take a downward turn from which they will never recover. I don’t buy it. The way I see it, challenging times force us to refine our processes and practices.