Purchased for $1.125 million in September of 2017, the multi-level South Beach loft unit #5 at 340 Ritch Street, which features dual catwalks, designer finishes and a private sunroom with access to the building’s rooftop deck, returned to the market priced at $1.129 million this past July. In addition to nearly 1,500 square feet of […more]
Top mortgage lender NewRez has added to its line of “Smart Series” non-QM products, launching a 40-year fixed-rate interest-only mortgage loan. With the 40-year IO mortgage, borrowers make interest-only payments for the first 10 years, which NewRez says increases their purchasing power and allows for more affordable monthly payments. (It also slows the amount of […more]
Fast-rising rates. A staggering drop in mortgage applications. Skyrocketing inflationary costs. Falling stocks and layoffs making headlines for mortgage giants across the industry. The entire mortgage market is in flux like few times in history. As the lending arm of mortgage companies can no longer depend on new loans or the rate-based refinancing that’s kept […more]
Miami-based fintech Milo has started to diversify its portfolio for investors with digital holdings by offering its first crypto-mortgage refinancing product, the company announced on Tuesday. The new offering comes five months after the fintech’s 30-year crypto-mortgage purchase product came to market and reached $10 million in origination volume. HousingWire first reported on the lender’s plans to debut refinancing products at […more]
Tokyo-based Lead Real Estate Co. Ltd., a developer of luxury single-family homes and condominiums, which also has residential leasing operations in Dallas, is looking to raise up to $30 million via the U.S. stock market. The company has filed a Form F-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for a planned initial public […more]
As we first revealed earlier this year, the single-story House of Brakes building/garage on the southeast corner of 24th Street and South Van Ness, a rather nondescript concrete structure above which the iconic Carnaval (a.k.a. Golden Dreams of the Mission) mural was painted and subsequently restored on the building behind, was on the market with […more]
Over the past year, the Federal Housing Finance Agency (FHFA) and government-sponsored entities (GSEs) Fannie Mae and Freddie Mac have committed to exploring innovative ways to expand homeownership access safely and securely. This charge couldn’t come at a better time. The racial homeownership gap between Black and white Americans is wider than it was in […more]
Depository bank Citi has trimmed staffing levels in its mortgage business, following surging rates and a reorganization of its operations. “Citi has made a small number of staffing reductions within our mortgage team due to internal streamlining of functions,” a spokesperson said in a statement. Bloomberg News first reported on the layoffs and reported that […more]
Marketing is a quickly evolving field, especially in the housing market. “The Future of Marketing” panel, which includes Rick Webster, chief marketing officer at Lender Price, will take a deep dive into industry trends and the marketing advancements that everyone can look forward to. Below, Webster talks with HousingWire to share his excitement for HW […more]
While the number of homes on the market in San Francisco remains up over 30 percent on a year-over-year basis, as has been the case since early May, the number of single-family homes and condos in contract across San Francisco is still down over 30 percent and over 30 percent lower than in 2020 as […more]