April 2021 – Page 2

Big Budgets From Out-of-Town Homebuyers Are Edging Out Locals in Popular Destinations Like Phoenix & Las Vegas

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Nationwide, 31.5% of Redfin.com users looked to move to a different metro area in the first quarter, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. This is up from 30.3% in the fourth quarter of 2020 and 26% a year earlier, and the highest share since Redfin started tracking migration in 2017. The upswing in people moving from one area to another since the start of the

Jennifer McGuinness of Mortgage Venture Partners and Fay Financial have come together to Launch Invigorate Finance

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Invigorate Finance is a closed loan mortgage conduit aggregator that specializes in the creation of new and improved lending programs and the aggregation of these residential and business purpose loans. Invigorate Finance is offering solutions to lenders not found in the industry before now, including an innovative suite of loan products and a process that insulates risk and streamlines origination, asset management, servicing, and structured finance with a collaborative approach and emphasis

Rapid Acceleration in Economic Growth Expected as Social Restrictions Ease

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Ongoing Supply-Demand Imbalance Shaping Housing Forecast as Mortgage Rates and Home Prices Tick Up Full-year 2021 real GDP growth expectations improved to 6.8 percent, including 9.1 percent annualized growth in the second quarter, due primarily to the continued easing of virus-related social restrictions and stimulus-driven consumer spending, according to the April 2021 commentary from the Fannie Mae (OTCQB: FNMA) Economic and Strategic Research (ESR) Group. Economic activity rebounded sharply following February’s weather-related pullback, and

Housing Market Potential Dips Slightly From 13-Year High, According to First American Potential Home Sales Model

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First American Financial Corporation (NYSE: FAF),a leading global provider of title insurance, settlement services and risk solutions for real estate transactions, released First American’s proprietary Potential Home Sales Model for the month of March 2021. March 2021 Potential Home Sales Potential existing-home sales decreased to a 6.26 million seasonally adjusted annualized rate (SAAR), a -0.1 percent month-over-month decrease. This represents a 79.7 percent increase from the market potential low point reached

New Residential Investment Corp. to Acquire Caliber Home Loans, Inc.

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New Residential to combine NewRez and Caliber platforms into premier financial services company New Residential Investment Corp. (NYSE: NRZ; “New Residential” or the “Company”) announced that it has entered into a definitive agreement with an affiliate of Lone Star Funds (“Lone Star”) to acquire Caliber Home Loans, Inc. (“Caliber”). With this acquisition, New Residential intends to bring together the platforms of Caliber and NewRez LLC (“NewRez”), New Residential’s wholly owned

Sprout Names New Executive Vice President And Chief Information Officer

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Sprout Mortgage, the innovative force in non-QM residential lending, announced the appointment of a new Chief Information Officer, effective immediately. Henry Santos is the new Executive Vice President and Chief Information officer. “I’m excited about Henry joining our team of senior leaders to advance our mission of continued technological innovation and strengthen our position as the preeminent provider of non-QM residential lending nationwide,” said Michael Strauss, CEO of Sprout Mortgage. “Sprout is