Items Tagged with 'Minneapolis'

ARTICLES

  • Federal authorities warn of fake bank supposedly operating in Minneapolis

    First National Bank in Minneapolis doesn’t actually exist
    Anyone who has received any kind of notice from First National Bank in Minneapolis, Minnesota, take note: the bank does not actually exist. According to the OCC, it received information about an entity calling itself First National Bank that is supposedly located at 222 S. 9th Street in Minneapolis. But the supposed bank isn’t what it appears to be.
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  • Redfin: These housing markets give low-income families a better shot at the American Dream

    These inland markets have the highest rates of low-income homeownership
    Housing affordability continues to be a concern for Americans across the country, especially for those living in pricey housing markets. Fortunately, for those struggling to make ends meet, various pockets throughout the country offer low-income families a shot at homeownership. Find out which ones here.
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  • Minneapolis is about to abolish single-family residential zoning

    Minneapolis 2040 would allow multifamily housing in single-family neighborhoods
    In a move that strikes a blow against decades of racial inequality and could prove to a boon to multifamily developers, the city of Minneapolis is on the verge of ending single-family residential zoning. Under the plan, duplexes and triplexes would be allowed in neighborhoods that only previously allowed single-family housing.
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  • Minnesota's KleinBank reaches settlement with DOJ over redlining allegations

    Bank will expand service area to include certain minority neighborhoods
    The Department of Justice and Minnesota-based KleinBank reached a settlement agreement covering charges that the bank excluded minority neighborhoods from its service area and engaged in discriminatory lending. Now, despite continuing to disagree with the government’s claims, the bank is settling with the DOJ in order to move forward.
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  • Monday Morning Cup of Coffee: Private capital is returning to the mortgage market

    Plus, developments in affordable housing
    A few weeks ago, we asked if private capital was beginning to show more interest in the mortgage market. And now, we’re starting to see more signs that interest in mortgages that don’t fit inside the Qualified Mortgage box seems to be growing. Plus, big rental-related news out of New York and Minnesota. All that, and more, in your Monday Morning Cup of Coffee.
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  • Redfin Mortgage expanding to Minnesota

    Online real estate brokerage continues expansion of lending channel
    Redfin, which expanded into mortgage lending last year, is growing its lending business again. Initially, Redfin Mortgage was available in Texas. Then, the company expanded to Illinois, Washington, D.C., Pennsylvania, and Virginia. Now, Redfin is setting up a mortgage operation in Minnesota as well.
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  • Minnesota's KleinBank accused of discriminatory lending

    DOJ accuses bank of redlining minority neighborhoods
    Minnesota-based KleinBank excluded minority neighborhoods from its service area for all banking services and engaged in discriminatory lending, the Department of Justice claimed in a lawsuit filed late last week. According to the Department of Justice, none of KleinBank’s branch locations in the Minneapolis-St. Paul metro area is located in a minority neighborhood, a practice known as “redlining.” The bank denies the DOJ's allegations.
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  • Beige Book: A housing market divided in improvement

    Residential real estate activity varies across the board
    The twelve Federal Reserve Districts weighed in on how their individual markets are doing, painting different housing market conditions. Residential real estate activity was split between them, with sales of existing homes and construction of new homes generally expanding or holding steady in about half of the districts.
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  • Minneapolis Realtors can't wait for Spring

    Winter homes sales go BRRR!
    The jury is still out on the impact of the unusually harsh winter on the housing economy. Some national statistics are noting a muted effect, with major metros brushing off the cold. Realtors in the Minneapolis/St. Paul region could not disagree more.
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