article thumbnail

Compass adds 10 principal agents to Ocean City office

Inman

Compass has recruited 15 agents from an Ocean City, New Jersey, RE/MAX franchise, 10 of whom will serve as principal agents. The new recruits represent $136 million in 2022 sales volume.

Principal 182
article thumbnail

Under stress, loanDepot ‘buys time’ with plan to extend $500M debt

Housing Wire

And Rithm Capital priced an offering of $775 million in aggregate principal of senior unsecured notes due in 2029 at 8% per year. million in aggregate principal of 2028 senior notes held by Artemis Management LLC. The new debt will pay 8.75% — an incremental 0.5% It reported a cash balance of $604 million at the end of March.

Principal 469
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The month in reverse mortgage rates: March 2024

Housing Wire

Department of Housing and Urban Development (HUD) determines how much principal a lender can provide a borrower. This “principal limit” calculation is based on factors like home value, age, and of course, interest rates. Conversely, when expected rates are lower at origination, borrowers are offered more principal.

Principal 436
article thumbnail

The month in reverse mortgage rates: April 2024

Housing Wire

This rate is used, among other things, to help determine a borrower’s initial principal limit (borrowing capacity). When looking up the borrower’s principal limit factor, we would use 6.75%. So, it is understandable that HECM prospects want to know how unlocked expected rates could impact their principal limit. Example With a 2.5%

Principal 421
article thumbnail

DeSantis stamps changes to reverse mortgage tax requirements in Florida

Housing Wire

“Currently, the documentary stamp tax is applied to the entire mortgage obligation amount rather than being applied to the principal limit amount,” or the maximum amount of proceeds that a reverse mortgage borrower can receive. This will now be changed, according to provisions of the law as analyzed by the committee.

Principal 413
article thumbnail

loanDepot concludes $500M debt extension

Housing Wire

million in principal for new notes guaranteed by, among other things, $60 million in nonagency mortgage servicing rights (MSR) and a securities account holding of $100.6 million in aggregate principal of 2028 senior notes held by Artemis Management LLC. million in aggregate principal of old notes will remain outstanding.

Principal 425
article thumbnail

Second homes and the principal residence tax exemption

REM Online

The original post can be found at the following URL: Second homes and the principal residence tax exemption. The original post can be found at the following URL: Second homes and the principal residence tax exemption. The following content may have been republished here without the author's permission.

Principal 121