Sonia Brunner, interim board chair of The 418 Project and Santa Cruz City Council member, speaks at a special 418 Project event. (Courtesy photo — Jacob Wilkens) SANTA CRUZ — Since 1993, the 418 Project has been a hub for supporting the arts in Santa Cruz County. More than 30 years and a relocation later, that commitment remains the same. Additionally, the organization has many more plans for the future, including an expansion to their current building. Additionally, at a reception earlier this month, they announced that they have paid off their current mortgage with the help of the community.…
Author: Private Lending Agent
Rocket Pro TPO, Rocket Mortgage's wholesale and partnership business, is running a one-month promotion in which they are waiving the $795 origination fee on mortgage applications.The promotion will run through Aug. 18 and is “without any strings attached,” said Mike Fawaz, executive vice president of Rocket Pro TPO.These include that the first lien loan does not have to be with Rocket and there are no contract length or business volume requirements from participating mortgage brokers.Rocket Pro TPO recently added an automated valuation model component to its HEL product that will accommodate loan amounts up to $400,000 (Fawaz says most competitors…
In a report released last week, the CFPB said the complexity of loss mitigation programs designed to help struggling mortgage borrowers during the COVID-19 pandemic may have made it difficult for many borrowers to seek assistance. “Many respondents faced difficulties accessing these programs, even among those who reported contacting a servicer,” the CFPB said. “Our findings suggest that the complexity of the process for obtaining payment hardship assistance may be a barrier to accessing loss mitigation for some borrowers, and that these barriers may be relatively high for distressed borrowers.” The bureau analyzed the experiences of distressed borrowers using data…
Ink Business Premier℠ Credit Card: Review The Ink Business Premier℠ Credit Card is appealing with its straightforward rewards program and generous cash back potential, but you should dig a little deeper before deciding if this card is right for you. Is Ink Business Premier worth it? Chase Ink Premier is valuable for businesses who spend at least $5,000 in a single transaction and swipe their card frequently: Once you hit the $5,000 threshold, you'll have access to a 2.5% cash back rewards tier, meaning you'll get $125 back for every $5,000 in transactions. This business travel card is also worthwhile…
The US central bank governor suggested the bank was close to cutting interest rates after a third straight month of falling price pressures.Chairman Jerome Powell said policymakers are growing more confident that inflation is on its way back to its 2% target, adding that officials won't wait to cut borrowing costs until price growth returns to that level.Powell did not specify when interest rates would be cut, but said the economy is now in “much better balance.””For quite some time now, we've been trying to gain more confidence that inflation is declining sustainably toward our 2 percent objective, and what…
Columbia University's MetaProp Accelerator recently gathered hundreds of investors and real estate industry executives from around the world for its 2024 Demo Day, where seven graduating startups presented on key real estate challenges in AI, sustainability (decarbonization, climate risk), procurement, and construction technology. Verifico brings transparency to multi-tiered work environments by enabling wage guarantees, providing valuable workforce insights, and strengthening DE&l efforts. Watch the pitch: Light RFP is a procurement platform that helps property managers and commercial real estate developers quickly identify the best vendors for their projects. Watch the pitch: Palazzo is an AI-powered interior design tool that helps…
June 2023 and June 2024 The ebb and flow of industry activity is easily seen when comparing RMI data on industry performance between June 2023 and June 2024. A year ago, American Advisors Group (AAG) was the top lender, originating 8,085 HECM loans in the 12 months ending June 30, 2023. A year later, Finance of America (FOA), which acquired AAG, maintained its position, but recorded roughly 500 fewer approvals in the past 12 months. John Lunde The industry-leading Pacific/Hawaii region saw 700 loans closed in June 2023, but a year later that number dropped to 594. Additionally, the number…
Homes listed for sale in Boulder, Colorado on February 15, 2017. A U.S. News & World Report study found that nowhere is the gap larger than in Colorado between the average interest rate mortgage borrowers are facing and what the market is charging, which can be a big disincentive to selling. Colorado's mortgage rate fixing gap, also known as the “golden handcuffs,” is the largest in the nation at 3.45 percentage points. This reflects the difference between the state's first-quarter average mortgage rate of 3.8%, the lowest in the state, tied with California and Utah, and the market average rate…
An Irish businessman living in the Philippines tried to book an “owner's suite” with his wife at the four-star Tinakilly House Hotel in Wicklow, only to find that they were being offered exclusive use of the entire venue for their wedding, a Commercial Court case has revealed.Gerald Lane, a resident of Essenza 21st Avenue, Manila BCG, claims that his business partner Dennis Connolly, who lives at the Tinakily House Hotel, has denied him access to his suite. He says he has never had a problem with them before and intended to stay “as usual.”Lane said he was not informed in…
Find out what’s happening with mortgage rates today and calculate monthly repayments across a range of different rates and deals. 15 July: Market Prepares For Bank Of England Announcement Santander, TSB and Yorkshire building society are the latest lenders to cut selected mortgage rates as costs continue to edge downwards in expectation of a rate cut by the Bank of England, writes Jo Thornhill. Santander has cut fixed rates for purchase and remortgage by up to 0.14 percentage points, effective from 16 July. As part of its rate review it is cutting all fixed rates and two-year tracker rates in…