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New York, Virginia taxpayers to cough up $3.4 billion for Amazon HQ2

Earlier this week, Amazon announced its second headquarters, HQ2, will be split between New York City and Arlington, Virginia, a move that will cost local taxpayers about $3.4 billion. But will the boost it brings to the economies be worth it? Here’s what the experts are saying. https://ift.tt/2RXsqdi More

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Quicken Loans parent company Rock Holdings just bought Dictionary.com (really)

Rock Holdings, the parent company of Quicken Loans, is getting into the dictionary and thesaurus business. Literally. Rock Holdings announced this week that it acquired Dictionary.com and Thesaurus.com, websites that boast approximately 540 million pageviews per month. But why, one might ask? Read on. https://ift.tt/2DJTTMF More

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Former Bank of America senior exec, husband jailed for stealing millions from bank

A former senior vice president at Bank of America and her husband will each spend at least a year in prison after admitting in court that they conspired to steal $2.7 million from the bank in a scheme involving fraudulent donations to nonprofits. https://ift.tt/2RXsoCc More

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Yardi: Rent prices fall for second month in a row

Rent prices fell by just a dollar in October, marking a decrease in prices for the second month in a row, according to new data from Yardi Matrix. Is the colder weather to blame for the dip in prices?  https://ift.tt/2DLq7XN More

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Ginnie Mae issues new rules for servicers and issuers

Aiming to provide more stability and integrity to the mortgage-backed securities market, Ginnie Mae on Friday released a number of new rules for mortgage servicers and issues of Ginnie Mae securities. Click through for the full details. https://ift.tt/2RXsn16 More

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News Corp names new president of global digital real estate

News Corp, parent company of Move and operator for Realtor.com, recently announced that Tracey Fellows has been appointed as the president of global digital real estate. Beginning in January 2019, Fellows will be based at News Corp’s New York headquarters, dividing her time among the company’s digital real estate assets. https://ift.tt/2DKTbyO More

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Airbnb takes Boston to court over city’s “draconian” short-term rental rules

The city of Boston has new rules surrounding short-term rentals that are set to go into effect on Jan. 1, 2019. According to Airbnb, Boston’s short-term rental rules violate the Constitution, multiple federal laws, and Massachusetts state law. Airbnb also claims the city’s rules threaten short-term rental sites with “draconian” punishments should they violate the city’s rules. https://ift.tt/2OOz4AE More

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Freddie Mac launches new, “green” mortgage

Freddie Mac announced Friday that it is now offering what it calls GreenCHOICE mortgages. These mortgages will help homeowners finance home improvements for greater energy efficiency, the company explained. https://ift.tt/2zdWtGU More

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Figure Technologies debuts sale lease-back product

Figure Technologies, led by former SoFi Founder and CEO Mike Cagney, just launched a sale lease-back product to give homeowners another way to access their home equity. The company said the Figure Home Advantage, which it calls an alternative to reverse mortgages, is ideal for those looking to bolster finances in retirement. https://ift.tt/2Q7ApYg More

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Freddie Mac: Mortgage rates gradually increase

Mortgage rates held steady this week, moderately increasing, according to Freddie Mac’s latest Primary Mortgage Market Survey. Freddie Mac Chief Economist Sam Khater said despite recent market volatility, mortgage rates remained steady this week. https://ift.tt/2DqfKYq More

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Fortunes reverse as Ditech servicing now props struggling mortgage lending

This year, Ditech doubled down on digital mortgages and rebranding efforts, in an effort to reinvigorate and redefine its lending operations. It’s not working, yet, but losses are slowing at the company. Here’s the full story. https://ift.tt/2Q4rqH0 More

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Banks continue to ease mortgage lending standards, but it’s not helping

For the third quarter of 2018, banks reported easing their standards on most categories of residential real estate loans, even while experiencing weaker demand for the products overall. https://ift.tt/2DrV1Dt More

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Smart apartment platform SmartRent raises $5 million from industry’s top companies

Thanks to an agreement between SmartRent, a smart home automation platform for property managers and renters, and some of the nation’s largest multifamily companies, smart apartments are about to go nationwide. https://ift.tt/2qPe3MC More

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Top multifamily operators band together, plan massive investment in real estate tech

Five major multifamily real estate investment trusts, Aimco, Boardwalk, Essex Property Trust, MAA, and UDR, are partnering with private owners Starwood Capital Group, Cortland, and GID to invest more than $100 million in a venture capital fund, which will be used to invest in “disruptive real estate technology companies” in the multifamily industry. https://ift.tt/2FohFPM More

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Zillow’s move into seller leads called “billion-dollar opportunity”

In an email to subscribers, independent analyst Mike DelPrete said Zillow’s strategic shift into iBuying and mortgage lending points to a much more profitable business line. “Zillow’s iBuyer business continues to grow, and the latest results crystalize the opportunity in seller leads,” he writes in the email. https://ift.tt/2Q0fWEC More

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Alabama closing attorney gets 3 years for stealing money from HUD sales

A former practicing attorney in Alabama will spend more than the next three years in jail after pleading guilty to stealing more than a $1 million from the Department of Housing and Urban Development on the sales of HUD-owned homes. https://ift.tt/2Dm2zI7 More

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Amazon announces HQ2 locations in New York and Virginia

Amazon announced Tuesday the locations for its second headquarters, naming Long Island City, New York, and Arlington, Virginia, as the winners of its year-long search. HQ2 is expected to bring 50,000 jobs and more than $5 billion in investments, and while this will be a boost to the local economies, some are critical of the tech giant’s impact on property values and infrastructure. https://ift.tt/2PSAf6X More