RealPage’s $100 million acquisition of LeaseLabs is now complete. The acquisition of LeaseLabs is just the latest for RealPage, a provider of software and data analytics to the real estate industry. This is RealPage’s sixth since January 2017 and pushes the company’s total outlay for its recent expansion past $1 billion.
U.S. Bank recently announced the launch of a new loan product designed to help customers deal with unexpected short-term cash needs. U.S. Bank Consumer Banking Sales and Support Executive Vice President Lynn Heitman said the company is focused on powering the potential of their customers.
Over the last few years, Stearns Lending has been in growth mode, rolling out new loan programs and acquiring new lending channels, and it appears the company is not done growing yet. Stearns announced Tuesday that it plans to acquire an equity interest in Citywide Home Loans, an independent mortgage bank with operations in 36 states.
Lenders reported a net negative profit margin outlook for the eighth consecutive quarter in the face of further erosion of purchase mortgage demand. According to Fannie Mae’s Mortgage Lender Sentiment Survey, lenders are feeling worse about the market this quarter than they were last year and last quarter. The biggest reason they have the mortgage blues? Competition from other lenders was the most cited reason by survey participants for the squeeze on margins.
Hurricane Florence is brewing over the coast, set to make landfall on the mid-Atlantic states Friday morning. An early analysis by CoreLogic shows that the number of homes in North Carolina, South Carolina and Virginia could be affected, and the potential cost of the Category 4 storm’s destruction.
A California real estate agent who sold homes with unpaid mortgages on them to unsuspecting homebuyers was recently sentenced to more than six years in prison and three years of supervised release after pleading guilty to one count of wire fraud and one count of money laundering.
As consumers demand more options in the mortgage industry, the value of omnichannel payment solutions also grows. There is some stigma in the mortgage industry behind self-service payment options, mainly due to the fear of increased fraud risk and a loss of control over payments. But experts in payments understand the power self-service payment options have in customer satisfaction and operational efficiencies.
Opendoor is about to take a huge step forward in its attempt to create a true one-stop shop for the entire real estate experience. Opendoor announced Tuesday morning that it has acquired Open Listings, a real estate site that offers homebuyers a 50% refund on the fees their real estate agent would have received. With the acquisition, Opendoor now touches all parts of the real estate process.
As lenders navigate the worst quarter for profitability in years, many are looking for ways to enhance their efficiency. PromonTech, a 2018 HousingWire Tech100 winner, recently announced its plan to debut an engine that could possibly do just that.
[Expert commentary] Although some in the mortgage industry have been advocating for FHA to reduce the cost of its mortgage insurance premiums, as long as current trends persist any reduction in pricing isn’t likely anytime soon.
Karin Comeaux
Compass Realty & Management
8880 W Sunset Rd, Ste 290
Las Vegas, NV 89148
(702) 328-4114
(702) 586-1616
