Having hit $3,575 at the end of June, the weighted average asking rent for an apartment in San Francisco has since jumped another 5 percent to $3,750 a month, which is still 11 percent higher than at the same time last year, which is unchanged from June, but nearly 23 percent ($700) above last year’s […more]
Foreclosures cost a lot of money. A conservative estimate of the financial toll on the borrower, the creditor, the guarantor and the surrounding community shows a foreclosure can cost upwards of $65,000. Letting borrowers skip monthly payments for a period, through a permanent forbearance option, could help avoid that financial loss. Researchers at the Urban […more]
Multichannel lender Finance of America (FoA) has laid off hundreds of employees across several rounds in the second and third quarters of 2022. The layoffs come amid a mortgage market downturn and a larger company restructuring, multiple current and former staffers told HousingWire. The Texas-based company reduced its workforce across centralized operations and branches, cutting […more]
Getting a mortgage is becoming an increasingly digital experience, with lenders and borrowers benefiting from saved time and fewer hiccups. HousingWire recently spoke with Kosta Ligris, CEO and co-founder of Stavvy, about how the mortgage tech journey has expanded beyond eClosings and is reaching all corners of the mortgage industry, from appraisal and valuation to […more]
Rithm Capital, formerly known as New Residential Investment, lost $3.3 million in the second quarter of 2022, largely due to fees caused by its break from Fortress Investment Group and a decline in residential mortgage originations. In an earnings presentation Tuesday, executives at Rithm said the company paid approximately $325 million to break from an […more]
The mortgage servicing rights (MSR) market is continuing to pump out new deals. Freedom Mortgage, one of the country’s largest mortgage servicers, recently unveiled its second private-label offering this year backed by MSRs. In addition, two mortgage advisory firms are out with three new MSR bulk-sales offerings involving agency loan portfolios exceeding $1.4 billion in […more]
Priced by the sales office at $600,500, relative to the other units in the second wave of development at the San Francisco Shipyard, the list price for the 611-square-foot, one-bedroom #308 at 555 Innes Avenue was reduced to $580,000 or roughly $949 per square foot in November of 2017, the price at which it ended […more]
First American Financial Corporation’s digital closing platform firm Endpoint is now offering a suite of integrated title tools specifically designed for proptech companies, investors and tech-forward real estate organizations looking for a scalable digital closing platform. Endpoint said its new solutions include APIs that automatically open title orders, track transaction statuses, exchange documents, and provide […more]
Even as rising interest rates and housing prices have put homeownership further out of the reach of many individuals and families, demand for single-family rental (SFR) properties remains strong and monthly rents robust, according to the inaugural National Rental Report from proptech firm HouseCanary. Monthly rent prices for SFR properties as of the end of the […more]
The red-hot U.S. housing market that has enriched property owners in recent years while squeezing renters and first-time home buyers is showing flickers of slowing down. Though rents and home prices are still climbing, the pace is more subdued as inflation and rising mortgage rates weaken demand. In June, the average home price climbed 17.3% […more]