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Regions Bank places $1B bet on home renovation market

Housing Wire

EnerBank says it works with 10,000 contractors and develops personalized loan programs for their clients. Regions’ acquisition of EnerBank from CMS is expected to close in the fourth quarter of 2021. Per a study from Harvard University’s Joint Center for Housing Studies, renovation financing is expected to increase 3.3%

Banks 362
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Reverse mortgage originator: real estate CE helps close more purchase loans

Housing Wire

I closed 28 H4P transactions last year, over 1% of the national total. Over the years I ended up teaching classes on renovation loans, mortgage insurance, mortgage mechanics, etc.,” I subsequently have developed two more CE classes that only deal with HECM loans. In the last six years, my HECM production has steadily grown.”.

Loans 479
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Change Lending to join Federal Home Loan Bank of San Francisco

Housing Wire

The transaction is expected to close in May. “We Change is a community development financial institution (CDFI) that is certified by the U.S. Change Lending’s services include small-business loans and lines of credit, investor real estate loans, rehab loans and renovation loans, according to its website.

Lending 376
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Planet Home Lending hires Doug Long to expand its retail branch network 

Housing Wire

Long, who brings more than 20 years of experience in the mortgage industry, will be responsible for building Planet’s retail networks and will also have a focus on product development, the company said.

Lending 387
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How to Use Virtual Renovation to Renovate a Home

Realty Biz

In recent years, virtual renovation has emerged as a groundbreaking tool that allows homeowners, designers, and contractors to visualize and plan home renovation projects in a virtual space. Benefits of Virtual Renovation Cost-Efficiency : Reduces the risk of costly mistakes. Steps to Virtual Renovation 1.

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MISMO to launch working group to create eHELOC standards

Housing Wire

Given that HELOC organizations are more streamlined than closed-end lending, there is greater importance for the adoption of electronic closing documents, MISMO said last week, calling for participants to join a new development workgroup (DWG). Meetings will be conducted regularly via conference call.

Equity 305
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How to vet private money lenders for real estate investing

Housing Wire

In today’s competitive real estate market, an increasing number of real estate investors are turning to private money lenders to help them close deals faster, enhance property valuations, and increase their returns. A copy of the buy and sale agreement indicates that the transaction is ready to close once the funds are received.