American Mortgage Consultants, a residential and consumer loan mortgage industry solutions provider, recently announced the formation of a new subsidiary, TechEssential, to provide solutions to ease transactions in the secondary mortgage market. AMC’s CEO Michael Franco said the new subsidiary represents AMC’s larger commitment to technology as the underpinning of its business.
Trouble is brewing in the U.S. housing market, some claim, asserting fear that another housing bubble could be on the horizon. A CBS article said “storm clouds are gathering,” pointing to
three factors it called worrisome for the future of the housing market.
In-House Realty, a subsidiary of fintech giant and owner of Quicken Loans, Rock Holdings, just rebranded to “better align with sister companies.” This rebrand is a big vote of confidence from Rock Holdings in its fintech operations, as it shows the company is marshaling its brands to consolidate behind the Quicken and Rocket branding.
Megatel Capital Investment, Megatel Homes’ capital markets division, promoted Kris Masias to vice president, sales desk and operations. Along with Masias’ promotion, Megatel is promoting Stormi Mills to operations and client relationship manager
Zillow took the industry by storm when it initially launched “Zillow Instant Offers” in Las Vegas and Orlando. The company has now set their eyes on the Peach State, positioning Atlanta as its first market in the Eastern United States.
In challenging times, some see defeat and steer clear, while others see opportunity and dive in. When it comes to reverse mortgages, US Mortgage Corporation has opted for the later, launching a HECM division with a multi-layered curriculum designed to teach forward LOs how to originate reverses.
“FICO Score XD for the U.S. is part of our global financial inclusion initiative where we are working in more than 25 countries around the world, to facilitate credit access for about 1 billion people,” Jim Wehman, executive vice president of FICO Scores, said. “We are learning a lot from the work we’re doing outside the U.S. and now have access to different types of data such as mobile device data, which could be very impactful.”
Multifamily industry heads met with Congress to hash out regulatory burdens and affordability last week. The National Multifamily Housing Council, National Apartment Association, Gables Residential CEO Sue Ansel and others gathered on Capitol Hill to seek solutions to regulatory burdens imposed at the local, state and federal levels as well as potential solutions for the housing shortage that is fueling the affordability crisis.
Delancey Street, a hard money lender based in New York City, is expanding and will begin offering commercial bridge loans in the five burrows. And the company, which also has a lending presence in Los Angeles, said that it may soon begin offering commercial bridge loans in L.A. as well.
The amount of home equity accessible to America’s 44 million homeowners reached $636 trillion – the highest level in history. Now, Americans have three times as much equity as they did when the market bottomed out in 2012, and 21% more than they did at before the bubble burst in 2006. Yet, fewer appear to be taking advantage of this major source of wealth.
Karin Comeaux
Compass Realty & Management
8880 W Sunset Rd, Ste 290
Las Vegas, NV 89148
(702) 328-4114
(702) 586-1616
