Next Level Agents: The Kevin & Fred Show - Interviews with the best and brightest minds in the real estate industry THIS WEEK'S INDUSTRY HEADLINES WITH KEVIN KAUFFMAN & FRED WEAVER.
Tweener Homes offers a solution for people in-between residences
He came up with Tweener Homes, a solution for those needing an “in-between” home due to temporary or permanent job relocation or finding themselves in the situation Calvi and his wife did.
Fathom Realty's IPO filing reveals increased revenue, widening losses
The flat-fee, virtual brokerage posted a net loss of more than $2.6M in the first nine months of 2019
Fathom’s S-1 filing revealed the company’s losses are widening, as it continues to grow. In 2017, Fathom Realty posted a net loss of $343,000, which grew to $1.5 million in 2018. Through the first nine months of 2019, the company posted a net loss of $2.6 million.
Despite the losses growing, revenue is up at the firm, which reported $78 million in revenue for the first nine months of 2019, slightly more than the total amount of revenue it pulled in during the entirety of 2018.
CFPB planning to eliminate DTI requirement from QM lending rules
Bank of America, Quicken Loans, Wells Fargo, Caliber Home Loans, along with the Mortgage Bankers Association, the American Bankers Association, the National Fair Housing Alliance, and others asked the CFPB to do away with the QM rule’s debt-to-income ratio requirement
The Ability to Repay/Qualified Mortgage rule was enacted by the CFPB after the financial crisis and requires lenders to verify a borrower’s ability to repay the mortgage before lending them money.
But, Fannie Mae and Freddie Mac are not bound to this requirement, a condition known as the QM Patch. Under the QM Patch, loans sold to Fannie or Freddie are allowed to exceed to the 43% DTI ratio.