Arvana Inc. Announces Business Development Strategy and Private Equity Placement

Arvana to Offer 5,000,000 Common Shares at $0.20 a Share as First Stage Funding for Its New Business Model Focused on the Acquisition of Undervalued Commercial Real Estate for Redevelopment Across North America SALT LAKE CITY–(BUSINESS WIRE)–Arvana Inc. (“OTC:AVNI”) announced today that it intends to … Continue readingArvana Inc. Announces Business Development Strategy and Private Equity Placement

The housing industry will soon be up in ARMs

If there’s a bet to be made on the future of the non-agency lending space, it’s that the adjustable-rate mortgage (ARM) will become far more popular this year as purchase mortgages increasingly dominate a housing market pivoting to an up-rate environment. That’s the consensus forecast … Continue readingThe housing industry will soon be up in ARMs

CHLA and 41 IMBs urge the FHA to cut MI premiums

The Community Home Lenders Association (CHLA) sent a letter, signed by 41 independent mortgage banks, to the Federal Housing Administration (FHA) on Wednesday urging the administration to cut mortgage insurance premiums. The letter, which includes signatures from South Carolina-based Movement Mortgage, Cherry Creek Mortgage, Texas-based … Continue readingCHLA and 41 IMBs urge the FHA to cut MI premiums

CHLA and 41 IMBs urge the FHA to cut MI premiums

The Community Home Lenders Association (CHLA) sent a letter, signed by 41 independent mortgage banks, to the Federal Housing Administration (FHA) on Wednesday urging the administration to cut mortgage insurance premiums. The letter, which includes signatures from South Carolina-based Movement Mortgage, Cherry Creek Mortgage, Texas-based … Continue readingCHLA and 41 IMBs urge the FHA to cut MI premiums

Layoffs, again: Fairway is the latest lender to trim workforce

Madison-based Fairway Independent Mortgage Corp. appears to be the latest mortgage lender to cut jobs due to the challenging origination market, showing that surging mortgage rates and home prices are now affecting companies with a high share of purchase loans in their portfolios.  Fairway staff … Continue readingLayoffs, again: Fairway is the latest lender to trim workforce

Layoffs, again: Fairway is the latest lender to trim workforce

Madison-based Fairway Independent Mortgage Corp. appears to be the latest mortgage lender to cut jobs due to the challenging origination market, showing that surging mortgage rates and home prices are now affecting companies with a high share of purchase loans in their portfolios.  Fairway staff … Continue readingLayoffs, again: Fairway is the latest lender to trim workforce

This savagely unhealthy housing market needs higher rates

The National Association of Realtors reported Thursday that existing home sales for April came in at 5.61 million, with double-digit home-price growth driving a housing market that is still savagely unhealthy. However, this year has seen one big game-changer: the 10-year yield finally cracked over … Continue readingThis savagely unhealthy housing market needs higher rates

This savagely unhealthy housing market needs higher rates

The National Association of Realtors reported Thursday that existing home sales for April came in at 5.61 million, with double-digit home-price growth driving a housing market that is still savagely unhealthy. However, this year has seen one big game-changer: the 10-year yield finally cracked over … Continue readingThis savagely unhealthy housing market needs higher rates

Applications for new homes dropped 14% in April

Skyrocketing mortgage rates and a slowdown in new home constructions led to a drop in home purchases in April. Mortgage applications for new home purchases dropped 10.6% in April from the same period last year, according to the Mortgage Bankers Association builder application survey. Compared with … Continue readingApplications for new homes dropped 14% in April