Real Estate Real estate development, sales, and market trends.

  • Former LandCastle Title CEO Nat Hardwick found guilty of embezzling $26 million
    by on October 18, 2018 at 5:58 pm

    Nathan (Nat) Hardwick, the former chief executive officer of LandCastle Title and former managing partner of Morris Hardwick Schneider, was found guilty late last week of embezzling more than $25 million from his former companies, bringing an end to a massive scandal that destroyed a prominent real estate firm and left hundreds of people without a job. […]

  • BMO Harris confirms face-to-face mortgage employee layoffs
    on October 18, 2018 at 5:33 pm

    BMO Harris recently confirmed that it is indeed cutting back its face-to-face mortgage operations with a round of layoffs. According to The Chicago Tribune, the company still won’t put a number on the amount of jobs it will eliminate but the Milwaukee Journal Sentinel said it could be 170 jobs based on an internal document it reviewed when the news of the cuts first broke. […]

  • Taylor Morrison Home Funding integrates LodeStar tech
    on October 18, 2018 at 4:30 pm

    Taylor Morrison Home Funding integrated with LodeStar Software Solutions to quickly and accurately quote closing costs on new-home construction properties. Under the new partnership, Taylor Morrison Home Funding employees can obtain quotes instantly through Ellie Mae’s Encompass digital mortgage solution. […]

  • Zillow's Amy Bohutinsky to step down from COO role, joins board of directors
    on October 17, 2018 at 10:24 pm

    Zillow announced that one of its longtime team members, Chief Operating Officer Amy Bohutinsky, will be stepping down from her role at the end of the year and has been selected to join the company’s board of directors. […]

  • Washington Post: HUD staffer shuffled to new agency, confusion and suspicion reigns
    on October 17, 2018 at 8:45 pm

    In a highly unusual move, U.S. Department of Housing and Urban Development Assistant Secretary Suzanne Israel Tufts was moved to the Interior Department to serve as acting inspector general overseeing four investigations into Secretary Ryan Zinke’s conduct. […]

  • AFR Wholesale announces partnership with Floify
    on October 17, 2018 at 6:26 pm

    AFR Wholesale and Floify announced Wednesday both companies shook hands on a partnership, and AFR will now use Floify’s point-of-sale technology. AFR’s goal in partnering with Floify is to reduce origination time and increase broker productivity. […]

  • RealPage to pay $3 million to settle FTC allegations of faulty tenant screenings
    by on October 17, 2018 at 4:44 pm

    RealPage will pay $3 million in a settlement with the Federal Trade Commission, which accused the real estate tech and data company of providing landlords and property managers with faulty tenant screening results over a five-year period. According to the FTC, RealPage’s screening reports could have shown incorrect criminal records for a prospective tenant because of the company’s limited filtering system on its screenings. […]

  • 6 Questions with 6 HUD Executives, Ep. 5: Assistant Secretary Anna Maria Farias
    on October 17, 2018 at 4:38 pm

    Anna Maria Farias shares a special bond with Department of Housing and Urban Development Secretary Ben Carson. Farias also grew up in public housing. She, like Carson, fought hard to achieve a greatness unparalleled. Farias was the child of a single parent who struggled to make ends meet, and she witnessed first-hand the discrimination and harassment her mother faced daily. […]

  • Multifamily volatility drags down housing starts
    on October 17, 2018 at 1:43 pm

    Housing starts decreased 5.3% in September, according to the latest report from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. Scott Volling, Principal, PwC said regional results indicate that weather may have had an impact on housing starts. […]

  • Wells Fargo, Bank of America reveal true impact of digital mortgages
    by on October 16, 2018 at 7:56 pm

    Both Wells Fargo and Bank of America rolled out digital mortgage applications this year, and the megabanks revealed Tuesday just how much the programs are already being utilized by mortgage applicants. Hint: A lot. Click the headline to find out just how many. […]

  • Millennials now prioritize homeownership over starting a family
    on October 16, 2018 at 7:52 pm

    Bank of America reveals that 70% of Millennials are now prioritizing homeownership above other major life milestones, including starting a family. According to the study, Millennials equate homeownership with personal and financial success. […]

  • Joel Kan: 3% to 4% growth predicted for the purchase market
    on October 16, 2018 at 7:50 pm

    The purchase market is due for a rebound, according to Joel Kan, MBA associate VP of industry surveys and forecasts. Kan told members of the audience in a Q&A session at MBA Annual that current macroeconomic trends should create a swell for the purchase market – good news for the flagging mortgage market. […]

  • NYT: U.S. federal budget deficit soars 17% in 2018
    on October 16, 2018 at 5:40 pm

    Last year, the deficit was $666 billion and, at its current rate of growth, it could balloon to over $1 trillion before the next presidential election. […]

  • MBA Annual Alert: Quicken, loanDepot leaders see fintech barrier to Amazon buy-in
    on October 16, 2018 at 4:17 pm

    Rumors have long swirled that Amazon has eyes on the mortgage business, but industry leaders say it's unlikely the company will dive in just yet. At MBA's annual convention on Tuesday, Hsieh and Emerson said there's still too much chaos in the space, but predict that fintech is on the verge of changing all that. […]

  • Veros: Washington, Nevada will see most home value appreciation next year
    by on October 16, 2018 at 3:19 pm

    Valuations provider Veros predicts seven of the 10 top-appreciating markets in the next 12 months will be in Washington and Nevada, and that the most populated metro areas will see a 4.5% uptick in appreciation. "We are forecasting that the overwhelming number of metros across the nation, approximately 97%, will appreciate," said Eric Fox, VP of statistical and economic modeling. […]

  • Homebuilder confidence increases slightly in October
    on October 16, 2018 at 2:33 pm

    Homebuilder confidence rose one point to 68 in October, according to the National Association of Home Builders/Wells Fargo Housing Market Index. "Builders are motivated by solid housing demand, fueled by a growing economy and a generational low for unemployment," NAHB Chairman Randy Noel said. […]

  • MBA Annual Alert: Mick Mulvaney talks CFPB reform, the future and baseball
    on October 15, 2018 at 8:10 pm

    At MBA Annual, Mulvaney touched on everything from the Deep State and CFPB reform to baseball and his goals for the bureau. Here are some of the highlights. […]

  • Janet Yellen: Economy's strong run could last through 2019
    on October 15, 2018 at 3:55 pm

    At the MBA Annual on Monday, former Federal Reserve Chair Janet Yellen told the crowd there are strong indicators that the economy is in a good place. But, she does warn of a few potential flies in the ointment, like overly zealous deregulation, shadow banking and an overheated economy. […]

  • Executive Conversation: Celeste Starchild on serving the digital-first homebuyer
    by on October 15, 2018 at 3:00 pm

    Executive Conversations is a HousingWire web series that profiles powerful people in the financial industry, highlighting the operations and the people that make this sector tick. In the latest installment, we sit down with Celeste Starchild, SVP Professional Software, Move, Inc. and General Manager of ListHub, to talk about how brokers can manage their active real estate listings through ListHub to generate more leads. […]

  • Hurricane Michael threatens more than 200,000 multifamily units
    on October 12, 2018 at 9:05 pm

    New data from Yardi indicates that more than 200,000 multifamily units are at risk due to Hurricane Michael. Virginia Beach, Virginia, Wilmington, North Carolina, and Tallahassee, Florida, are the cities with the most multifamily units in harm’s way, according to the report. These cities hold 36,317, 33,423 and 32,277 at-risk units, respectively. […]