Six weeks into the new year and it appears that merger-and-acquisition activity in the mortgage industry is finally picking up – big time. Over the past 10 days, several – mostly “asset” related – deals have come to light, with the action being driven by private-equity money that’s backing nonbank lenders. Wall Street giant The Blackstone Group, which has a PE division, is involved as well. So far, the only depository that appears to be playing in the M&A surge is...
Home prices in 2016 soared as a number of metropolitan areas reached record new home price highs, according to ATTOM Data Solutions’ yearend report on home sales. Among 201 metropolitan statistical areas with populations of at least 200,000, 44 percent hit new all-time home price peaks last year. Those areas include Dallas-Fort Worth ($230,571), Houston ($214,795), Atlanta ($181,000), Boston ($390,000) and San Francisco ($720,000). Three Ohio markets, Cincinnati, Columbus and Dayton, also reached...
A number of factors – including misconceptions – are preventing some potential homebuyers from pursuing purchase mortgages, according to the National Association of Realtors. The trade group said it has found “real and imaginary barriers holding back prospective homebuyers.” The so-called imaginary barriers involve potential borrowers’ perceptions about downpayment requirements. “Apparent confusion about downpayment requirements may be...
The CFPB said Prospect Mortgage entered into agreements to buy leads from more than 200 different counterparties, most of which were real estate brokers.
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