Austin, Texas-based startup won’t have the space to itself, but partner Visa and backers providing $7.2 million in seed funding led by Streamlined Ventures like the company’s odds. Continue reading
Since launching in 2021 as the “Stripe of real estate” providing technology and funding to proptechs, Setpoint has expanded into additional asset-backed lending lines including auto, consumer and small business. Continue reading
Card issuer Wells Fargo is losing as much as $10 million a month as it eats interchange fees for users who are paying off balances after paying their rent, “The Wall Street Journal” reports. Continue reading
To qualify for grants being made through Wells Fargo’s existing Special Purpose Credit Program, homebuyers can’t earn more than 120 percent of the area median income. Continue reading
Droves of people have flocked to Texas for new jobs, tax and affordability purposes, and political reasons, and the demand from this new class of wealthy buyers is stretching the state’s luxury inventory thin. Continue reading
With Fannie and Freddie leading the charge, a growing number of lenders are using special purpose credit programs to boost homeownership in underserved communities. Continue reading
New homes now represent a third of all homes on the market. That’s 2.5 times higher than the historical average for the two decades leading up to COVID-19, according to the NAHB/Wells Fargo HMI. Continue reading
Investors claimed they were misled about bank’s progress in fixing governance and oversight issues that came to light in wake of 2016 “fake accounts” scandal. Continue reading
Builder confidence rose 2 points in the latest National Association of Home Builders’ Housing Market Index, but economists fear lending challenges in the wake of bank failures this month. Continue reading
The bank says it has racked up $353 million in severance expenses as it closes branches and pursues a “more focused home lending business.” Continue reading