Items Tagged with 'Rent-to-own'
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  • building

    NYDFS investigating whether rent-to-own is actually predatory lending

    Issues warning on risks of rent-to-own contracts
    April 16, 2018
    Ben Lane
    The New York Department of Financial Services revealed Monday that it is currently investigating whether alternative home purchase agreements, such as rent-to-own, lease-to-own or land installment contracts, currently being offered in New York are actually “unlicensed, predatory mortgage lending.”
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  • house neighborhood

    Meet Divvy: Startup aims to revolutionize rent-to-own

    Buyer selects property, Divvy buys home, rents it to resident while they build equity
    January 25, 2018
    Ben Lane
    While rent-to-own is not a new concept in the housing market, a new real estate company is set to launch that aims to rebrand renting to own into a buyer-friendly proposition. Divvy Homes, which soft-launched two months ago, claims that its program offers consumers the flexibility of renting with the financial benefits of homeownership, all with the prospective homeowner in mind.
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  • building

    Rent-to-own operator Vision Property Management shut down in Wisconsin

    Legal battle with state continues
    October 11, 2017
    Ben Lane
    A Wisconsin state court effectively ended rent-to-own operator Vision Property Management’s ability to operate in the state, as the company’s battle with the state continues. Back in June, the Wisconsin Department of Justice sued VPM and its various affiliates for using “misleading and deceiving business practices to induce Wisconsin consumers to lease, rent, or purchase uninhabitable properties.”
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  • pile money

    Wisconsin accuses rent-to-own operator Vision Property Management of harming consumers

    State sues VPM over its “misleading and deceiving business practices”
    June 5, 2017
    Ben Lane
    The Wisconsin Department of Justice announced Monday that the state is suing Vision Property Management and its various affiliates for using “misleading and deceiving business practices to induce Wisconsin consumers to lease, rent, or purchase uninhabitable properties.” The lawsuit claims that VPM targeted low income consumers with predatory rent-to-own offers on “dilapidated” homes.
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  • For rent sign large

    KBRA: Rent-to-own properties problematic arena for investors

    Let’s tap the brakes on the whole 'future of housing' thing
    January 18, 2016
    Ben Lane
    A recent report from Moody's highlighted the benefits for consumers and investors that stem from Home Partners of America’s rent-to-own program, but a new report from Kroll Bond Rating Agency throws a wet blanket onto anyone who posited that rent-to-own could be the “future of housing.”
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  • For rent sign large

    Is rent-to-own the future of housing?

    Home Partners of America’s first securitization offers glimpse at new buying option
    January 14, 2016
    Ben Lane
    With rising rents making it more difficult for many to even save the 3% down payment they’d now need to buy a home, a new option is emerging as an avenue for consumers to live in the home they want and save money to buy it at the same time – rent-to-own.
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  • Housing stock

    Demand growing for rent-to-own homes

    By investors and consumers
    July 29, 2015
    Brena Swanson
    Rent-to-own programs are once again increasing in popularity after losing steam back in the 1990s. One perk of the program that’s appealing to consumers is that they aren’t forced to purchase the home.
    Read More

This month in
HousingWire magazine

Cover Story
July 2018

Threat multiplier: states mobilize to defend consumer protections

In the days following the 2016 election, business leaders across many industries were hopeful that the new president would make good on his promise of widespread deregulation. Banks and other financial institutions were especially optimistic. Here at last was the relief they had been looking for. Or not.

Feature

Are we seeing the return of subprime?

Rick Sharga
Rick Sharga
Even Hollywood knows better than to produce a sequel when the original movie is truly, horrifically bad. That’s why, thankfully, we haven’t seen sequels to such all-time cinematic disasters as Howard the Duck, Gigli, The Last Airbender, Jack and Jill, Glitter, or Battlefield Earth. Which brings us, in an admittedly roundabout way, to the question of whether we’re about to see a sequel of sorts in the mortgage industry: The Return of the Subprime Loan.

Commentary

Housing finance's evolving policy landscape

Carol Bouchner
Carol Bouchner
With FHFA director Mel Watt’s term due to expire in January 2019, the question of whether to move ahead on some version of administrative reform may rest with his successor. In the meantime, policy makers would be well-served to work together to come to some agreement on options for administrative reform. At a minimum, agreeing on a common definition would be a good first step.