The We Company, the parent of shared workspace provider WeWork, announced this week it launched a global real estate acquisition and management platform, ARK. So, instead of paying to rent out space in existing buildings, then turning around and renting that space back out via its co-working spaces, The We Company will use ARK to cut out the middleman and become its own landlord.
The National Association of Realtors announced it has entered into a partnership with commercial real estate platform Brevitas. "The Brevitas platform will help Realtors grow their business in an industry of rapidly evolving technology and strong competition," NAR CEO Bob Goldberg said.
Fannie Mae announced that DLJ Capital Mortgage, a Credit Suisse subsidiary, is the winner of its 11th reperforming loan sale. The deal includes more than 21,000 loans with an unpaid principal balance of $3.27 billion across four pools and is expected to close on June 21, according to Fannie Mae.
LendingPad, a 2019 HW Tech100 winner, is partnering with My Mortgage Trainer to provide LendingPad LOS clients a discounted rate on mortgage license education training. The company announced that lenders using its LOS platform will be able to access the NMLS-approved education needed to obtain or renew a mortgage license.
According to a new study, NIMBYism is standing in the way of more affordable apartment construction across the U.S. As rents continue to rise, a new study from the National Apartment Association analyzed the factors in 29 major metros that make multifamily apartment construction more difficult to achieve nationwide.
The HousingWire News Podcast is a weekly wrap of the top news stories by Editor-in-Chief Jacob Gaffney. This week, Gaffney talks with John Pataky, TIAA Bank’s EVP and chief consumer and commercial banking executive. With GDP coming in strong, is the chance of recession finally remote, or is the sky falling? Plus, if your tech isn't what Millennials want, can you survive long term? Listen to find out.
Freddie Mac is launching a new security to help smaller lenders access additional liquidity for affordable housing financing. The GSE announced its new Private Placement PC Swap – or PPP – on Wednesday to help financial institutions with less than $10 billion in assets access additional liquidity for financing affordable housing.
The city of Boston has been blocked from enacting two provisions of a short-term rental ordinance that was passed in summer 2018. A U.S. District Court judge declared Beantown can’t eject a short-term rental service from the city as punishment for posting and failing to remove listings that violate the ordinance.
Hospitality giant Marriott International has officially entered the short-term rental market, going after home vacation rental giants like Airbnb and HomeAway. Marriott is launching Homes & Villas by Marriott International, a home-rental initiative that offers 2,000 premium and luxury homes worldwide.
The HousingWire podcast is a weekly wrap of the top news stories by Editor-in-Chief Jacob Gaffney. Each week, Gaffney interviews financial services experts who can make sense of the latest headlines, sponsored by our partners at Blend. This week, Jerry Anderson of Alliant Credit Union quickly debriefs listeners on what's happening with homebuyers, interest rates and the latest technology trends in the mortgage industry.
For anyone actively working in the mortgage industry, it’s no secret that reverse mortgages have taken a brutal hit in the last two years. The U.S. Department of Housing and Urban Development issued major program changes at the end of 2017 that effectively limited the amount of proceeds and the number of people who could qualify for the loan. The result had lenders across the space enduring sizable volume drops and subsequent gashes to their bottom lines.