Newsletter – Page 143 – REI INK
REI INK

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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Offerpad Announces Indianapolis is the Next Market in its Expansion Plan

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Leading iBuyer and real estate solutions provider expects to buy and sell homes in nearly 1,000 cities and towns Offerpad, a leader in modern home buying and selling solutions, continues business development and market expansion with the announcement of a new major market launch into Indianapolis, Indiana. The Arizona-based company will bring its Real Estate Solutions Center to homeowners and sellers in the Midwest beginning this summer. Offerpad’s first pitch to homeowners

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PROPERTY TAXES LEVIED ON SINGLE FAMILY HOMES UP 5.4 PERCENT IN 2020, TO MORE THAN $323 BILLION

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Average Property Tax of $3,719 Up 4 Percent Effective Tax Rate at 1.1 Percent Highest Effective Tax Rates Remained in New Jersey, Illinois, Texas, Vermont, Connecticut ATTOM Data Solutions, curator of the nation’s premier property database, released its 2020 property tax analysis for almost 87 million U.S. single family homes, which shows that $323 billion in property taxes were levied on single-family homes in 2020, up 5.4 percent from $306.4

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