Items Tagged with 'Detroit distressed market'
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ARTICLES

  • REO bank owned

    Will unprecedented mortgage lending finally save Detroit?

    Bank of America, NACA partner to offer zero-down, below market rate mortgages
    April 17, 2015
    Ben Lane
    A newly created program, called the “Detroit Neighborhood Initiative,” is based on a partnership between the city of Detroit, the Neighborhood Assistance Corporation of America, the Opportunity Resource Fund and Bank of America, and the program goes to unprecedented lengths to help restore the city to its former glory.
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  • foreclosure

    Fannie Mae partners with Detroit to demolish foreclosed homes

    GSE will sell vacant properties to Detroit Land Bank
    November 24, 2014
    Ben Lane
    In what the parties are calling an “initial transaction,” Fannie announced that it will sell 44 foreclosed properties to the Detroit Land Bank Authority “for a nominal fee,” and contribute funds for the demolition of some of the properties.
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  • bright idea lightbulb

    Dan Gilbert on big banks, debt, and risk

    Quicken Loans founder: Debt is what's going to kill you
    October 3, 2014
    Ben Lane
    It’s taken many steps for Quicken to grow to that level of success and Dan Gilbert has learned quite a few lessons along the way. Gilbert shares some of his words of wisdom in a new article.
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  • skyline

    Can Quicken Loans save Detroit?

    Forbes: “Dan Gilbert is saving Detroit to help his business”
    September 29, 2014
    Ben Lane
    Dan Gilbert, the founder and chairman of Quicken Loans, is still pushing to save the city of Detroit. He's invested millions in the revitalization of Detroit's downtown area and the results of his efforts are having a real impact on the recovery of the city and on Quickens Loans' business too.
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This month in
HousingWire magazine

Feature

What happened to reverse mortgages?

LendingReverse
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.