Jeremiah Jensen is a reporter for HousingWire. In this role, he helps deliver timely news coverage of the U.S. housing market. Prior to joining HousingWire, Jeremiah was a freelance reporter in the commercial real estate space. He is a graduate of Southern Methodist University’s Journalism School.
BMO Harris Bank is getting rid of most of its customer-facing mortgage loan officers. According to a report from Milwaukee Journal Sentinel’s Paul Gores, the Chicago-based bank is going to put its energy behind its centralized mortgage call center and minimize its face-to-face LO presence in response to changing customer behavior.
Airbnb is asking the Securities and Exchange Commission for a rule change so its hosts can become part owners in the company, according to a report from CNBC’s Sara Salinas. The rule in question is Rule 701, an SEC rule governing equity awards of private companies. The changes proposed would allow “gig economy” workers to take up shares in the company.
Scouring the nation for your next cash cow multifamily acquisition? Look no further than these four underrated cities RealPage says have great upside. Things are a little too competitive for to be profitable for many investors in the primary markets. RealPage’s picks are not the sexiest markets, but their fundamentals are solid and their growth potential make them worthy candidates for investment.
Out of the 10,222 bills introduced so far in the 115th Congress, only 115 of those had to do with housing and of those 115, not a one made it to the Oval Office. According to a report from Apartment List, despite growing national concern regarding the housing affordability crisis, what few potential solutions are being put forth, can’t make through Congress because they are not a priority.
MG Capital, a private equity investment manager focused on Manhattan luxury residential properties, just added J.P. Morgan Asset & Wealth Management Executive Director Joanna Koutsos to its management advisory board.
Tech 100 winner Maxwell just launched a new loan application and data enrichment API it has dubbed Maxwell ApplyID. According to Maxwell, the new tech enables clients to pre-populate loan application data and develop new customer intelligence capabilities with little to no hassle.
Cloudvirga launched a new mobile mortgage point-of-sales solution for loan originators and homebuyers in the purchase mortgage market. The Mobile POS is backed by the same tech that runs the Enterprise POS, which won Cloudvirga a HousingWire Tech100 award.
After taking an absolute beating this year, the refinance market just got its first ray of sunshine in 2018. According to Ellie Mae’s Origination Insight Report, the percentage of refinances closed went up for the first time in 2018 in August.
New tariffs against China could add $1 billion in costs to goods involved with housing construction. According to CNBC’s Realty Check, the NAHB estimates that of the 6,000 goods under the umbrella of the latest round of tariffs, roughly 600 products, representing $10 billion in goods, are related to the construction of new apartments and homes.
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.