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Angel Oak Originated $2.2B of Non-Qualified Mortgages

Angel Oak Originated $2.2B of Non-Qualified Mortgages

Tuesday, 05 February 2019
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Angel Oak has increased its originations of non-qualified mortgages to $2.2 billion in 2018, from $1.1 billion in 2017, increased headcount by 53 percent to 648 people, and completed four mortgage securitizations totaling $1.1 billion. “In 2018, our lending units saw a distinct rise in the popularity and use of non-QM products as more creditworthy… Read more...
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Home Sellers Booked $61K Profits in 2018

Home Sellers Booked $61K Profits in 2018

Tuesday, 05 February 2019
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Home sellers booked a profit of $61,000 on average from the sale of their homes in 2018, up from $50,000 in the prior year. The gain was $39,500 in 2016, the highest level since 2006. The 2018 performance represented an average 32.6 percent return on investment compared to the original purchase price, up from 27.0… Read more...
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Five Most Affordable Housing Markets for Millennials

Five Most Affordable Housing Markets for Millennials

Sunday, 03 February 2019
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St. Louis was the most affordable home buying city for millennials as of year-end 2018. In St. Louis, more than 88 percent of homes for sale are affordable on a $68,805 annual salary, the median household income for a millennial in the area, according to a report from Redfin. The majority of the remaining most… Read more...
A Strategy for Making Time Count

A Strategy for Making Time Count

Monday, 04 February 2019
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By Dave Hershman There is no doubt that time is a business person’s most precious resource. In fact, time is everyone’s most precious resource. [caption id="attachment_9654" align="alignleft" width="268"] Dave Hershman[/caption] We never realize how precious time is until we run out of it. George Burns lived a 100 years, yet he never had time for… Read more...
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Baby Boomers Boosting Builders' Confidence

Baby Boomers Boosting Builders' Confidence

Friday, 01 February 2019
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The appeal of new homes to baby boomers and older buyers hasn't gone unnoticed by builders. To be sure, builder confidence in the single-family housing market for borrowers older than 55 remained strong in the fourth quarter of 2018 with a reading of 66, up six points compared to the third quarter, according to the… Read more...
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Homes Sold Above Asking Price Dropped in Second Half of '18

Homes Sold Above Asking Price Dropped in Second Half of '18

Friday, 01 February 2019
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The share of homes sold above asking price declined each month in the second half of 2018, and December saw the biggest month-over-month drop since at least 2012, another sign of the slowing housing market. Nineteen percent of home sales in the U.S. went for above asking in December, down from 21 percent in November… Read more...
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Planet Home Loans Opens 26 Branches, Licenses Technology

Planet Home Loans Opens 26 Branches, Licenses Technology

Thursday, 31 January 2019
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Planet Home Lending LLC, a national lender and servicer, opened 26 retail branches, expanded into other channels and brought on 165 mortgage loan originators in 2018. Also, it increased the private client sub-servicing portfolio by 300 percent and the correspondent division expanded its client base by 40 percent, according to the company. The renovation division… Read more...
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Better Mortgage Receives $70M Capital Infusion

Better Mortgage Receives $70M Capital Infusion

Thursday, 31 January 2019
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Better Mortgage has closed a $70 million funding round from American Express Ventures, the Healthcare of Ontario Pension Plan, as well as existing investors Kleiner Perkins, Goldman Sachs, and Pine Brook. The new capital will support expansion and enhancements to its technology platform. Better doubled operates in half of the states in the U.S. and… Read more...
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Pending Home Sales Slip, Notes NAR

Pending Home Sales Slip, Notes NAR

Tuesday, 29 January 2019
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Pending home sales declined overall in December, but for the second straight month the West experienced a slight increase. The Pending Home Sales Index, a forward-looking indicator based on home contract signings, decreased 2.2 percent to 99 in December, down from 101.2 in November, according to the National Association of Realtors. “The longer-term growth potential… Read more...
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25% of Home Searchers Plan to Switch Cities: Redfin

25% of Home Searchers Plan to Switch Cities: Redfin

Wednesday, 30 January 2019
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Twenty-five percent of home searchers looked to move to another metro area in the fourth quarter of 2018, up from 23 percent the year before, according to the migration report from Redfin. The national share of home searchers looking to relocate has been increasing since Redfin began reporting on migration in early 2017 and now… Read more...
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