LendingTree: Student loan debt is driving Millennials to buy fixer-upper homes

With more than $1.5 trillion in student loan debt, new LendingTree research shows an overwhelming majority of homebuyers are considering purchasing “fixer-upper” homes to combat costs. In fact, 88% of homebuyers that are grappling with student loan debt are now more likely to consider a “fixer-upper” home, according to the online lending marketplace’s data.
Source: HousingWire Magazine

NAR files motion to dismiss anti-trust lawsuit over buyer broker commissions

In the last three months, the NAR has been hit with two nearly identical class-action lawsuits that claim its buyer broker compensation rules violate anti-trust laws. But the association isn’t going to roll over without a fight.
Source: HousingWire Magazine

Calabria: Fannie Mae may be privatized before Freddie Mac, or vice versa

Now that he is officially installed as the director of the Federal Housing Finance Agency, Mark Calabria is taking GSE reform head-on. Calabria seems set on privatizing Fannie Mae and Freddie Mac, though not necessarily at the same time.
Source: HousingWire Magazine

How did Donald Trump become a Florida bank's client in chief?

The president’s big loan from, and sizable deposits with, Professional Bank in Boca Raton have raised some eyebrows. But the bank’s chairman says it recruits relationship bankers from larger rivals to get just these kinds of customers.
Source: American Banker

Taxi loan abuses part of a broader pattern in New York

In a state where laws are unusually favorable to high-cost business lenders, taxi drivers are not the only small-business people getting trapped in loans they can’t afford to pay back. The question is, what are policymakers going to do about it?
Source: American Banker

HUD looks to roll back on transgender protections at homeless shelters

This week, the Department of Housing and Urban Development proposed a new rule that has the potential to leave thousands of transgender Americans without shelter, according to an article written by Tracy Jan for The Washington Post.
Source: HousingWire Magazine

Grocery store is most-desirable neighborhood amenity, Federal Reserve report shows

The most important neighborhood amenity is a grocery store. About 87% of people said it is “moderately or very important” to have nearby. Next on the list was a combined category of “shops or restaurants,” which 75% of people cited as being important. The next slot went to banks, with 65% of people citing them as important, then places of worship, at 48%.
Source: HousingWire Magazine

BB&T-SunTrust priorities, OCC's shock tactic, CECL remorse: Top stories of the week

Jury’s out on whether BB&T-SunTrust will serve the community or Wall Street; ‘we were willing to shock historical norms,’ says Otting on OCC’s makeover; is it too late for Congress to stop CECL?; and more from this week’s most-read stories.
Source: American Banker

The iBuyer market is booming, and it's not slowing down anytime soon

Some might say that so far, 2019 is looking to be the year of the iBuyer. The term has exploded across the internet as major companies like Redfin and Zillow expand their reach into the business of buying homes directly from sellers. Here’s an up-close look at where these companies operate and where they’re headed next.
Source: HousingWire Magazine

Kushner Companies buys $1.1 billion in multifamily real estate

Kushner Companies, the family real estate company of White House Senior Advisor Jared Kushner, is significantly expanding its multifamily portfolio thanks to the help of Berkadia Commercial Mortgage. This week, the real estate company closed on its $1.1 billion portfolio through financing provided from Warren Buffet’s commercial lending company.
Source: HousingWire Magazine