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First Internet Bank is shuttering its consumer mortgage business

Housing Wire

First Internet Bancorp , parent company of First Internet Bank, announced that the exit will include its nationwide digital direct-to-consumer mortgage platform, which originates residential loans for sale in the secondary market. The residential mortgage loan balance for First Internet was $383.9 The home equity loans balance was $24.7

Banks 392
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Class Valuation continues its acquisition spree

Housing Wire

In a press statement, Class Valuation said Metro-West, founded in 1987, is the largest independent residential appraisal firm in the country, with staff appraisers in over 80 U.S. There’s been a surge in private equity investment in the U.S. private equity, described the appeal: “Residential real estate is the U.S.’s

Equity 311
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Mortgage rates inch down following Fed decision

Housing Wire

“I haven’t seen a dry spell like this in the time I’ve been in business,” Bob Yopko, president of First Equity Residential Mortgage , said of this year’s spring homebuying season. Due to limited options available on the market, buyers are increasingly turning to newly constructed homes, Xu added.

Mortgages 363
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7 Smart Ways To Lower the Cost of Buying a New-Construction Home

Realtor.com

Many homebuyers may find the added expense of new construction well worth it, due to the money they stand to save on renovations and repairs that might crop up in an older home. But homebuyers should also know that they can lower the costs of new construction right when they make the purchase through some smart negotiation tactics.

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Pretium acquires fix-and-flip lender Anchor

Housing Wire

California-based Anchor Loans, founded in 1998, provides capital for professional residential real-estate investors through bridge and construction products. According to the transaction terms, American Equity Investment Life Insurance Company provided financing for the deal and acquired $1 billion of loans originated by Anchor.

Loans 264
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The big short in housing supply isn’t going away

Housing Wire

In November 2021, the supply of homes for sale nationwide as a percentage of occupied residential inventory remained near historic lows at 1.19% — meaning only 119 in every 10,000 homes were for sale — much lower than the historical average of 2.5%. The majority of the supply of homes for sale come from existing homes, not new construction.

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Prices and Lack of Inventory Continue to Transform Residential Real Estate

RIS Media

She added, “Builders are working feverishly to get new construction and move-in ready homes on the market, but it’s going to take time for inventory to rise enough to curb runaway price growth. ” The post Prices and Lack of Inventory Continue to Transform Residential Real Estate appeared first on RISMedia.