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
April 2018

The 2018 HW Tech100

This year’s HW Tech100 features a much more expansive landscape than ever before. Winners included heavy hitters and innovative disruptors. Even new tech players in the blockchain space are joining the party now. Other exciting developments can be seen on the identity-protection and fraud-prevention sides. But make no mistake, the name of the game in tech, these days, is lending, lending, lending.

Feature

How mortgage companies are capitalizing on their greatest asset: big data

Sarah Wheeler
Sarah Wheeler
 InvestmentsLending
The evolution from a paper-based process to this era of big data is astounding. Consider that according to IBM, 90% of the world’s data has been created in the last two years. The Internet of Things — your thermostat, refrigerator, even your kid’s Barbie doll — is increasing that data exponentially. For mortgage companies, that data represents a treasure trove more valuable than the gold bars stacked in the vault at the New York Federal Reserve Bank, but only if they can figure out how to harness it for their specific business. Fortunately, scores of fintech companies are ready to help.

Commentary

The pitfalls of depending on automation in post-close valuations

Mark Melikian
Mark Melikian
 Real Estate
Accurate, trustworthy valuations require taking a deeper look. That’s why it’s important to have a valuation expert independently review every valuation report and determine whether it makes sense. The most trustworthy valuation providers have a team of highly trained reviewers on staff who diligently analyze every comparable on a valuation report and ask: “Will a potential buyer consider this property similar to the subject property?”