REI INK

East Coast and Chicago Area Face Biggest Hurdles in Housing-Related Risks Connected to Coronavirus Pandemic Impact

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ATTOM Data Solutions, curator of the nation’s premier property database, released its first-quarter 2021 Special Coronavirus Report spotlighting county-level housing markets around the United States that are more or less vulnerable to the impact of the Coronavirus pandemic that continues to impact the U.S. economy. The report shows that states along the East Coast, as well as Illinois, were most at risk in the first quarter of 2021 – with clusters

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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

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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

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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

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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

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Why Banks Will Move Quickly to Sell Distressed Debt

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So far, the COVID-19 pandemic hasn’t spawned the waves of property distress that were initially predicted.  However, once lenders can pursue remedies, Andrew Van Tuyle, senior managing director of investments for BH Properties, expects the floodgates to open for loan sales in judicial foreclosure states and situations where bankruptcy appears imminent. Speaking to an audience of the American Bankruptcy Institute, Van Tuyle, who oversees the Value Add and Bankruptcy divisions

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