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[ad_1] Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity markets were moving between gains and losses on Wednesday. Midcap, small-cap indices fared worse than largecaps. [ad_2] Source link

[ad_1] Today, the U.S. Census Bureau reported that housing starts hit 1.55 million for September, and housing permits came in at 1.589 million. These data lines missed monthly expectations, and we had negative revisions to the previous months when combined — overall, not the most exciting report. However, one thing to always remember with housing starts data is that the month-to-month data can be extreme but the long-term trend does tell the real story of what is going on. What that story is telling us is that we have enough demand to keep building homes in America. On permits, the Census reports: Privately‐owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,589,000.  This is 7.7 percent (±0.9 percent) below the revised August rate of 1,721,000, but is virtually unchanged from (±1.1 percent)* the September 2020 rate of 1,589,000.  Single‐family authorizations in September were at a rate of 1,041,000; this is 0.9 percent (±0.8 percent) below the revised August figure of 1,050,000.   Authorizations of units in buildings with five units or more were at a rate of 498,000 in September. This content is exclusively for HW+ members. Start an HW+ Membership now for less than $1 a day. Your HW+ Membership includes: Unlimited access to HW+ articles and analysis Exclusive access to the HW+ Slack community and virtual events HousingWire Magazine delivered to your home or office Become a member today Already a member? log in The post Housing starts data pushing toward pre-cycle highs appeared first on HousingWire. [ad_2] Source link

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[ad_1] Chinese hot pot chain Haidilao slows growth as COVID-19 curbs consumer appetite [ad_2] Source link

[ad_1] PolicyBazaar’s DRHP also said the company may consider raising close to Rs 750 crore by way of a private placement of equity shares ahead of the IPO. [ad_2] Source link

[ad_1] Executive Vice President at Rocket Pro TPO Austin Niemiec Rocket Pro TPO, a division of Rocket Mortgage, announced today that it is launching several tech-focused initiatives to support mortgage broker partners for a purchase-heavy market. Perhaps the most significant news, made under the fanfare of “Come Together” by the Beatles, is that the nation’s largest mortgage lender pledged “to build bridges” for their brokers partners by connecting them with real estate agents. According to Austin Niemiec, executive vice president at Rocket Pro TPO, broker partners will now have access to agents through Rocket Homes, the company’s real estate listing platform. “Many homebuyers who visit the Rocket Homes site are not working with a mortgage company,” said the lender in a statement. “Starting this week, however, when Rocket Homes connects homebuyers with one of its partner agents, the company will also introduce select buyers to one of Rocket Pro TPO’s Pinnacle Partners.” It could end up being a decent source of leads for brokers. In its most recent quarterly earnings, Rocket said that its home search website reached nearly two million average unique monthly visitors, a six-fold increase year-over-year. Rocket Homes’ agent referral network – with nearly 25,000 agents – also drove $2 billion of real estate transaction value in the second quarter, the company claimed. This content is exclusively for HW+ members. Start an HW+ Membership now for less than $1 a day. Your HW+ Membership includes: Unlimited access to HW+ articles and analysis Exclusive access to the HW+ Slack community and virtual events HousingWire Magazine delivered to your home or office Become a member today Already a member? log in The post Rocket Mortgage makes another push for brokers appeared first on HousingWire. [ad_2] Source link

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[ad_1] Biden signs order creating commissions to improve education for Black U.S. students [ad_2] Source link

[ad_1] Between April and September this year, companies have raised Rs 2.68 lakh crore against Rs 3.80 lakh crore in the comparable period last year, showed Sebi data. [ad_2] Source link

[ad_1] Last year saw a record-breaking $3.83 trillion in mortgage originations, according to the Mortgage Bankers Association (MBA), as interest rates plunged, and COVID-19 accelerated an ongoing exodus from cities to the suburbs. While 2021 volume is expected to slow somewhat, the purchase market appears to be on pace to surpass refinances, the MBA said. HousingWire recently spoke with Jon Gerretsen, SitusAMC Managing Director of Residential New Originations and Fulfillment Services, about the home buying boom and how lenders can gain market share and drive profitability in a white-hot purchase mortgage market. HousingWire: How has the shift from a refi to a purchase market changed the dynamics for lenders? Jon Gerretsen: Lenders have already had to compete for market share in an era of increasing costs, greater regulatory demands and volatile interest rates, while quickly adapting to new remote-work protocols sparked by the pandemic. As the market shifts from a refinance-driven market to a purchase-driven market, lenders have had to adapt again due to the difference in sourcing leads and the intricacies of financing purchase transactions. The underlying dynamics, timing and skill sets required to support purchase transactions are much more complex than a refinance, in which the primary focus is on the interest rate and associated closing costs. In a purchase market, there are multiple stakeholders who have vested interests in the transaction – buyers, sellers, Realtors – and originators, all working under time-driven constraints including rate-lock commitments, mortgage-based contingencies and move-in/move out dates which all rely on timely and accurate decisions. All of this translates into the purchase borrower requiring increased touch points and service levels to fulfill these expectations. Additionally, homebuyers demand a fast and simple mortgage lending experience, similar to the other types of technology-driven solutions they enjoy in other aspects of their lives. Given all the stakeholders involved, the purchase market is about providing product expertise and service excellence while maintaining timelines. It’s very easy to have a negative customer experience that can impair your brand. HW: What’s top of mind for large originators? JG: We work with numerous top 50 lenders and originators in the country, which provides us with solid insight into market trends. For most of our clients, the current focus is on profitability and finding the right operating model for today’s market; however, no one wants to compromise on customer experience either.   Over the last 18 months, it’s been very difficult for mortgage industry participants to recruit and retain skilled employees due to the volatile environment and poaching that has been rampant. The talent situation has in turn made maintaining service levels a difficult and extremely costly endeavor. Lenders haven’t been able to hire and train fast enough. While everyone expects volumes to fall in 2022, we haven’t seen that material decline yet through the third quarter of 2021, which has allowed competitive pressures to persist as lenders were willing to cut margins to keep volumes. Heading into 2022, we are seeing lenders start to focus on what they need their organizations to look like in what is promising to be a market that features lower originations, a mix shift to purchase, which is more expensive to produce, and a more active regulatory regime, which is also likely to increase costs. Maintaining productivity and quality in this environment is extremely challenging. HW: How can SitusAMC help lenders address these issues? JG: At the end of the day, it is all about providing value to your clients. That is our daily focus. To achieve that goal, at SitusAMC we provide origination support services and partner with lenders to provide cost-effective, regulatory-compliant, scalable solutions to help them meet changing market demands while streamlining their operating models. We have built a global delivery system of technology-enabled underwriting, offering both expertise and scale throughout the origination life cycle for both licensed and non-licensed activities. Our global workforce enables us to operate around the clock to constantly exceed expectations and help our lender partners achieve a competitive advantage in the marketplace. The post The originations landscape is shifting – is your business ready? appeared first on HousingWire. [ad_2] Source link