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A new source of affordable housing inventory: Private seller auctions

Housing Wire

Tony Richards recently purchased four properties in his hometown of Montgomery, Alabama. He bought it from an outside landlord who didnt have the local market knowledge or presence needed for property management. All four of the properties are in underserved neighborhoods as defined by the Federal Housing Finance Agency (FHFA).

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14 lucrative jobs in real estate with high earning potential

Housing Wire

Mortgage loan originator (MLO) or mortgage broker License or education required: Yes Average national salary: ~$60,000 to ~87,000 Job description: A loan originator, or loan officer, plays an essential role in the process of purchasing property. Similar to an MLO, a mortgage broker finds financing for buyers.

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Waltz launches streamlined financing option for international homebuyers

Housing Wire

” Waltz aims to support international buyers with a “comprehensive” solution that covers the compliance, legal, banking and regulatory processes to close the purchase process within 30 days. bank account is also created to help the investor manage the property remotely, including through fast currency exchange capabilities.

Finance 440
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Truework launches automated income verification platform

Housing Wire

The platform will give property managers and mortgage lenders access to a comprehensive, end-to-end verification tool. The company added bank income and tax transcripts to its existing data methods, which include an instantly available database, payroll connectivity, automatic communications and document management.

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Opinion: To redress racial bias in mortgage underwriting, scrap the credit score

Housing Wire

As ever, redlining — the intentional, systematic effort by American banks and government to refuse mortgages to African Americans and segregate U.S. Is the mortgage industry offering fair access to loans? The report suggests that the mortgage industry may be neglecting its duty to offer all applicants fair access to loans.

Mortgages 439
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How to vet private money lenders for real estate investing

Housing Wire

Let’s look at what private money lenders do and how they operate, as well as the potential benefits of using private or hard money loans and how to locate and select a reputable private money lender. Understand where the funding comes from, whether it’s from the lender or a syndicated loan with funds given by multiple investors.

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How to Buy a Multifamily Property in 10 Steps

The Close

It is generally more straightforward and manageable than purchasing a large commercial property. Multifamily mortgage loans typically require 20% of the property price for a down payment, and there are inevitable maintenance and property management costs.