The MBA Secondary mood is so…. Plus, Texas jobs are booming, with no end in sight. New York and San Francisco startups promise to find people to co-live with each other. Plus, Fannie and Freddie risk-sharing bond performance updated. And, this person claims to have single-handedly caused the housing crisis in California. Plus, even more.
Freddie Mac announced Monday its new campaign aimed at helping mortgage originators better understand the needs of the new home buying generation. With the rise of the gig economy and changing technological demands, Freddie Mac launched a campaign to help originators reach the latest generation driving homeownership growth.
Stearns Lending CEO David Schneider noted that even with companies finding more efficiencies in their process, something will have to give. “I think that capacity needs to come out of the system. There has been a lot of growth in independent banks, but they built their business with margins much higher than we see today.”
The Trump administration just took another significant step toward derailing a controversial fair housing rule issued by the Obama administration in 2015. HUD announced late Friday afternoon that it is “withdrawing” a computer tool that was to be used to enforce the Obama administration’s Affirmatively Furthering Fair Housing rule.
Mortgage quality control and origination management solutions provider TRK Connection announced this week that Jeremy Burcham joined the company as executive vice president of sales. Burcham comes to the company from The Compliance Group.
A group of real estate, financial services, and home services companies are joining together to help bring artificial intelligence to real estate and beyond. Austin, Texas-based OJO Labs announced on Friday that it raised $20.5 million in its Series B funding round. Taking part were Realogy, Royal Bank of Canada, Northwestern Mutual Future Ventures and ServiceMaster.
Sageworks, which is one of the country’s first fintech companies, announced it has been acquired by private equity firm Accel-KKR, which primarily invests in software and technology-enabled services businesses.
Basketball legend and sports commentator Shaquille O’Neal recently put his 31,000 square-foot home on the market for $28 million.
In a Q&A with HousingWire, Ben Wu, executive director of LoanScorecard, discusses the recent surge in non-agency/non-QM mortgage lending, the challenges in that market and how technology can be utilized to help lenders with these challenges. As Wu points out, “With more than 20 million sole proprietors in the U.S., there is pent-up demand for mortgage product that can accept income documentation other than the ‘Appendix Q’ requirement of QM loans.”
Notarize, a digital platform that allows for legal, online document notarization, announced this week that it raised $20 million in its Series B round of funding. The capital raise nearly doubles the amount of money the company has raised so far. But what’s more interesting than Notarize raising $20 million is where the money is coming from.