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How two sisters closed $40 million in 2024 “vibe flipping” LA homes

Housing Wire

They find aesthetically challenged homes in coveted LA neighborhoods, crunch the numbers, hire interior designers to renovate them so they look good on Instagram and then list and sell them for a tidy profit. Renovation 2: Taking (calculated) design and staging risks Part of creating a vibe that sells is taking risks. How much value?

Closing 362
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MORE Seller Financing wants to debunk ‘the bad rap for wraps’

Housing Wire

MORE’s model offers a short-term bridge loan typically around three years in length that’s designed to give buyers time to refinance or secure permanent financing. Ive helped a lot of divorcees who have terrible credit and people that are a few months out of bankruptcy get into a home. They just had life happen.

Finance 370
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NAR runs out of liability insurance coverage: Sources

Housing Wire

The liability insurance, which is offered through insurance provider Chubb , is designed to cover antitrust claims, but the policy limit is $1 million per policy. So your only leverage in negotiating the settlement is, ‘We’ll just file bankruptcy.’” Additionally, the policy has an aggregate limit of $10 million.

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Celink files objection seeking dismissal of fees lawsuit

Housing Wire

However, when that was attempted, the judge denied the motion by saying that “such case may not be properly designated as related to the instant action.” The lender’s counsel of record withdrew representation of RMF in early 2023 after its business arrangement ended with the lender following the company’s bankruptcy.

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Wells Fargo pays $96M to settle LO comp lawsuit

Housing Wire

The lawsuit, which combined two legal actions that were designated a class action, was filed on behalf of 5,377 loan officers and other mortgage staffers employed by the bank in California from 2013 and 2019. Wells Fargo agreed to pay $95.7 The deal will provide $62.8

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The risk of zero-down loans while the Fed talks recession

Housing Wire

The entire system has to be designed to inflate the price over time. Remember, the system is designed to keep home prices inflated. Since many people think of housing as a wealth creator — and we want more Americans to have more wealth — then the government needs to make sure demand stays high enough for that wealth product to grow.

Loans 544
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CoStar and private equity group battle for CoreLogic

Housing Wire

After its filing of bankruptcy in February, Rentpath , which owns Rent.com, ApartmentGuide.com, Rentals.com and Lovely.com, agreed to sell to CoStar for a reported $558 million. However, the deal was blocked by the FTC in December, citing the acquisition would “effectively eliminate price competition” given the twos rivalry.

Equity 383