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Airbnb takes Boston to court over city’s “draconian” short-term rental rules

Posted 17 November 2018 | By | Categories: Boston Condos | No Comments

The city of Boston has new rules surrounding short-term rentals that are set to go into effect on Jan. 1, 2019. According to Airbnb, Boston’s short-term rental rules violate the Constitution, multiple federal laws, and Massachusetts state law. Airbnb also claims the city’s rules threaten short-term rental sites with “draconian” punishments should they violate the city’s rules. https://www.housingwire.com/articles/47424-airbnb-takes-boston-to-court-over-citys-draconian-short-term-rental-rulesRead More

Freddie Mac launches new, “green” mortgage

Posted 17 November 2018 | By | Categories: Boston Condos | No Comments

Freddie Mac announced Friday that it is now offering what it calls GreenCHOICE mortgages. These mortgages will help homeowners finance home improvements for greater energy efficiency, the company explained. https://www.housingwire.com/articles/47425-freddie-mac-launches-new-green-mortgageRead More

Figure Technologies debuts sale lease-back product

Posted 16 November 2018 | By | Categories: Boston Condos | No Comments

Figure Technologies, led by former SoFi Founder and CEO Mike Cagney, just launched a sale lease-back product to give homeowners another way to access their home equity. The company said the Figure Home Advantage, which it calls an alternative to reverse mortgages, is ideal for those looking to bolster finances in retirement. https://www.housingwire.com/articles/47411-figure-technologies-debuts-sale-lease-back-productRead More

Freddie Mac: Mortgage rates gradually increase

Posted 16 November 2018 | By | Categories: Boston Condos | No Comments

Mortgage rates held steady this week, moderately increasing, according to Freddie Mac’s latest Primary Mortgage Market Survey. Freddie Mac Chief Economist Sam Khater said despite recent market volatility, mortgage rates remained steady this week. https://www.housingwire.com/articles/47412-freddie-mac-mortgage-rates-gradually-increaseRead More

Banks continue to ease mortgage lending standards, but it’s not helping

Posted 16 November 2018 | By | Categories: Boston Condos | No Comments

For the third quarter of 2018, banks reported easing their standards on most categories of residential real estate loans, even while experiencing weaker demand for the products overall. https://www.housingwire.com/articles/47410-banks-continue-to-ease-mortgage-lending-standards-but-its-not-helpingRead More

Fortunes reverse as Ditech servicing now props struggling mortgage lending

Posted 16 November 2018 | By | Categories: Boston Condos | No Comments

This year, Ditech doubled down on digital mortgages and rebranding efforts, in an effort to reinvigorate and redefine its lending operations. It’s not working, yet, but losses are slowing at the company. Here’s the full story. https://www.housingwire.com/articles/47413-fortunes-reverse-as-ditech-servicing-now-props-struggling-mortgage-lendingRead More

Smart apartment platform SmartRent raises $5 million from industry’s top companies

Posted 15 November 2018 | By | Categories: Boston Condos | No Comments

Thanks to an agreement between SmartRent, a smart home automation platform for property managers and renters, and some of the nation’s largest multifamily companies, smart apartments are about to go nationwide. https://www.housingwire.com/articles/47402-smart-apartment-platform-smartrent-raises-5-million-from-industrys-top-companiesRead More

Top multifamily operators band together, plan massive investment in real estate tech

Posted 15 November 2018 | By | Categories: Boston Condos | No Comments

Five major multifamily real estate investment trusts, Aimco, Boardwalk, Essex Property Trust, MAA, and UDR, are partnering with private owners Starwood Capital Group, Cortland, and GID to invest more than $100 million in a venture capital fund, which will be used to invest in “disruptive real estate technology companies” in the multifamily industry. https://www.housingwire.com/articles/47404-top-multifamily-operators-band-together-plan-massive-investment-in-real-estate-techRead More

Alabama closing attorney gets 3 years for stealing money from HUD sales

Posted 14 November 2018 | By | Categories: Boston Condos | No Comments

A former practicing attorney in Alabama will spend more than the next three years in jail after pleading guilty to stealing more than a $1 million from the Department of Housing and Urban Development on the sales of HUD-owned homes. https://www.housingwire.com/articles/47389-alabama-closing-attorney-gets-3-years-for-stealing-money-from-hud-salesRead More

Zillow’s move into seller leads called “billion-dollar opportunity”

Posted 14 November 2018 | By | Categories: Boston Condos | No Comments

In an email to subscribers, independent analyst Mike DelPrete said Zillow’s strategic shift into iBuying and mortgage lending points to a much more profitable business line. “Zillow’s iBuyer business continues to grow, and the latest results crystalize the opportunity in seller leads,” he writes in the email. https://www.housingwire.com/articles/47382-zillows-move-into-seller-leads-called-billion-dollar-opportunityRead More

Fintech Rundown: Factom, LoanLogics and more

Posted 14 November 2018 | By | Categories: Boston Condos | No Comments

Another week and more tech integrations! As the industry shifts ever-closer to a truly digital mortgage experience, we present some of the integrations and program selections companies in the mortgage lending space are making. https://www.housingwire.com/articles/47390-tech-rundown-factom-loanlogics-and-moreRead More

Amazon announces HQ2 locations in New York and Virginia

Posted 14 November 2018 | By | Categories: Boston Condos | No Comments

Amazon announced Tuesday the locations for its second headquarters, naming Long Island City, New York, and Arlington, Virginia, as the winners of its year-long search. HQ2 is expected to bring 50,000 jobs and more than $5 billion in investments, and while this will be a boost to the local economies, some are critical of the tech giant’s impact on property values and infrastructure. https://www.housingwire.com/articles/47391-amazon-announces-hq2-locations-in-new-york-and-virginiaRead More

HECM margins stabilize at 2%

Posted 13 November 2018 | By | Categories: Boston Condos | No Comments

Margins on adjustable-rate reverse mortgage loans averaged 2% in September, according to HECM analytics provider Baseline. The average margin rate is up slightly from 1.99% in August, indicating that it is remaining relatively stable now that the industry has adapted to reverse mortgage program changes that went into effect in October 2017. https://www.housingwire.com/articles/47371-hecm-margins-stabilize-at-2Read More

Take the 800 # customer service challenge

Posted 13 November 2018 | By | Categories: Boston Condos | No Comments

Go on. Call your subservicer. Are they answering in 60 seconds or less? Or, did they leave you on hold for 10, 20, or even 45 minutes? If your wait time felt like forever, guess what? That’s the exact same type of infuriating situation that you’re putting your customers through. https://www.housingwire.com/articles/47374-take-the-800-customer-service-challengeRead More

More Americans are using real estate agents than ever before

Posted 13 November 2018 | By | Categories: Boston Condos | No Comments

More Americans are using real estate agents to buy and sell their home than ever before, even among the younger generations. Actually, a new study shows that it’s the older generations that are cutting real estate agents out of the picture. https://www.housingwire.com/articles/47376-more-americans-are-using-real-estate-agents-than-ever-beforeRead More

CoStar buying Cozy to turbocharge Apartments.com

Posted 13 November 2018 | By | Categories: Boston Condos | No Comments

Apartments.com is already one of the top consumer websites for multifamily real estate, but the website’s parent company is not comfortable resting on its laurels. CoStar Group, which owns Apartments.com along with several other prominent online rental platforms, announced recently that it is buying Cozy Services for $68 million and plans to integrate the company’s online rental solutions into its websites. https://www.housingwire.com/articles/47377-costar-buying-cozy-to-turbocharge-apartmentscomRead More

Real estate crowdfunding startup RealtyShares hits hard times, halts new investments

Posted 11 November 2018 | By | Categories: Boston Condos | No Comments

Everything was going swimmingly for RealtyShares just over a year ago. The real estate crowdfunding startup has just purchased one of its biggest rivals, Acquire Real Estate, and had plans to grow its investment in commercial and multifamily real estate. But now, RealtyShares has fallen on hard times and will be laying off much of its staff and stop accepting new investments on its platform. https://www.housingwire.com/articles/47368-real-estate-crowdfunding-startup-realtyshares-hits-hard-times-halts-new-investmentsRead More

Reverse Focus launches website development service for HECM LOs

Posted 11 November 2018 | By | Categories: Boston Condos | No Comments

Mortgage solutions company Reverse Focus has announced the launch of its website service for reverse mortgage originators. Myloanofficer.us offers “turn-key, power-packed” websites designed for HECM LOs who are looking to market their services, elevate their online presence and expedite lead generation. https://www.housingwire.com/articles/47369-reverse-focus-launches-website-development-service-for-hecm-losRead More

Redfin: These inland real estate markets are heating up

Posted 11 November 2018 | By | Categories: Boston Condos | No Comments

Affordable inland real estate markets are heating up as prospective buyers turn away from expensive coastal markets. Redfin lists which cities are outperforming the rest. Take a look here. https://www.housingwire.com/articles/47370-redfin-these-inland-real-estate-markets-are-heating-upRead More

The future of mortgage finance? 6 key takeaways from the midterm elections

Posted 11 November 2018 | By | Categories: Boston Condos | No Comments

Record numbers of American voters turned out to cast their votes in Tuesday’s midterm elections, and in so doing revealed that the partisan divide in the country continues. What will this divided Congress mean for housing? Here are some key takeaways… https://www.housingwire.com/blogs/1-rewired/post/47373-the-future-of-mortgage-finance-6-key-takeaways-from-the-midterm-electionsRead More

Homebuilders: Housing affordability falls further in Q3

Posted 09 November 2018 | By | Categories: Boston Condos | No Comments

Housing affordability remains at a 10-year low. NAHB Chairman Randy Noel said home price appreciation and rising interest rates coupled with persistent labor shortages are contributing to affordability concerns. https://www.housingwire.com/articles/47349-nahb-nations-housing-affordability-falls-further-in-q3Read More

UBS expecting DOJ lawsuit over pre-crisis mortgage bonds

Posted 09 November 2018 | By | Categories: Boston Condos | No Comments

UBS, which has already paid out hundreds of millions of dollars over its pre-crisis mortgage securitization activities, is about to be facing another massive lawsuit for the same conduct. UBS revealed late Wednesday that it is expecting to be sued by the Department of Justice over its issuance, underwriting and sale of residential mortgage-backed securities from 2006 to 2007. https://www.housingwire.com/articles/47351-ubs-expecting-doj-lawsuit-over-pre-crisis-mortgage-bondsRead More

Arc Home expands executive team

Posted 09 November 2018 | By | Categories: Boston Condos | No Comments

Arc Home recently announced the appointments of Richard Bradfield, Massimo Monaco and Leith Kaplan to executive leadership positions. Arc Home Director Thomas Durkin said the company is confident they have the right team to execute strategy and growth. https://www.housingwire.com/articles/47352-arc-home-expands-executive-teamRead More

Maxine Waters promises change if selected to lead Financial Services Committee

Posted 09 November 2018 | By | Categories: Boston Condos | No Comments

During the midterm elections Tuesday, Democrats took control of the House, while Republicans kept the Senate. As current ranking member, it is likely that Waters will take over as chairwoman of the Financial Services Committee. And she is already making promises for change, if she is selected to lead. https://www.housingwire.com/articles/47353-maxine-waters-promises-change-if-selected-to-lead-financial-services-committeeRead More

Genworth reveals the biggest concerns for mortgage professionals in 2019

Posted 08 November 2018 | By | Categories: Boston Condos | No Comments

Genworth Mortgage Insurance surveyed approximately 203 mortgage professionals attending the recent Mortgage Bankers Association’s annual conference in order to determine their biggest concerns facing the industry in 2019. You can find out what they are here. https://www.housingwire.com/articles/47326-genworth-reveals-the-biggest-concerns-for-mortgage-professionals-in-2019Read More