The Federal Housing Finance Agency just debuted a new housing affordability metric that aims to build upon the data already provided by other similar metrics, and what the FHFA found on the metric’s maiden voyage isn’t pretty.
This year, the National Association of Home Builders’ Remodeling Market Index revealed that in the fourth quarter of 2017, the RMI reached 60 for the second time since 2001. Although the increasing demand for home renovation has carried over to 2018, recently imposed tariffs are expected to reduce home renovation affordability.
JPMorgan Chase is plotting an expansion of its business in the Philadelphia and Delaware Valley area, which includes Philadelphia, the state of Delaware and the southern part of New Jersey. Chase announced Monday that over the next five years, the bank will open up approximately 50 new branch locations and add 300 new employees in the Delaware Valley region.
Pacific Union International named Shawna Borg Cashin regional executive of Silicon Valley. Cashin has been with Pacific Union since 2013, when she joined to help launch its Menlo Park office, which the company says has been a key bastion for its success in the region.
Reverse mortgages are not your average loan product. They cater to a specific segment of borrowers and often require a lengthy and consultative sales approach. To decipher what it takes to find success in this field, we’ve polled the industry’s leading trainers for their five best tips on what it takes to be a top-tier HECM LO.
MLG Capital Partners, a commercial real estate investment firm, raised $100 million for its MLG Private Fund III and is closing the door on that fund on the 30th of this month. The new fund will be used to expand MLG’s portfolio, which consists of multifamily, industrial, retail and office properties across the U.S.
It’s official. Greystar completed its acquisition of EdR, one of the nation’s largest student-housing firms. This news follows EdR stockholders’ vote to approve the merger at a meeting about a week ago. Greystar is dropping $4.6 billion on this acquisition. EdR’s stockholders will receive $41.50 per share in cash.
The rent growth fever may have just broken. For the first time in six years, year-over-year rent growth is flat. According to a new report from Zillow, the national median rent in August came in at $1,440, unchanged from a year ago. This is the sixth consecutive month of slowing rent growth and month 27 of sub-3% annual growth.
MAXEX, a residential mortgage loan exchange provider, just raised $38 million in new funding with Moore Asset Backed Fund leading the charge. Combined with its Series A round, MAXEX has raised a total of $73 million in capital since its founding in 2013.
A robust economy has not been able to ignite an underwhelming housing market, according to Freddie Mac’s September Forecast, which predicts for the remainder of 2018, prospective homebuyers will experience difficulty reaching the market.
Karin Comeaux
Compass Realty & Management
8880 W Sunset Rd, Ste 290
Las Vegas, NV 89148
(702) 328-4114
(702) 586-1616
