A major result of the 2008 housing crash was that many people lost their homes. Very sad, but very true. This resulted in two things coming about: 1. These people needed a place to live 2. The market was flooded with unoccupied homes. All that was needed was a way to bring these two components together.…
Or, was it just a long foul ball? By most accounts, President Trump’s address to Congress was a success. He delivered a well thought out, measured speech in a professional, presidential manner. We saw a different side of the new President. Not everyone was enthralled by his words. The Democrats mostly sat silently through his presentation, rarely applauding any of his…
Is it a lending crisis, an affordability crisis, or a housing crisis? Maybe it is all three. Homeownership rates have declined and everyone is clamoring for lenders to do more to help provide financing to more perspective home buyers. A basic rule of economics is supply vs. demand. What if the problem is that there just aren’t enough homes for…
The current Administration is talking about making changes to modify or completely replace the Dodd-Frank Act. However, a new report out of Washington says it’s doing just fine. According to the FDIC, in the 4th quarter of 2016, banks reported profits of $45.6 billion. This is up compared to the period just after the 2008 crash of only $21.4 billion…
New Penn Financial, a large successful independent mortgage lender, based in the Philadelphia area, announced a joint venture with a Massachusetts Realtor. New Penn will join forces with Jack Conway, Realtor, to create Conway Financial Services. Conway Financial will operate as a traditional independent mortgage banker, created to provide mortgage financing to Conway’s home buyers and to those seeking to…
For those of you who were hoping, and maybe believing, the CFPB and their Director, Richard Cordray, were going away, it looks as though that may not happen anytime soon. CFPB just announced plans to hold public hearings on the potential for use and the benefits of non-traditional sources to establish a consumer’s credit profile for lending purposes. Today, most…
