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Borrowers Who Make Less Money Are Now Getting Jumbo Home Loans

Borrowers Who Make Less Money Are Now Getting Jumbo Home Loans

Even as sales of luxury homes slow in some markets, jumbo lending has picked up. That’s because looser underwriting rules—especially income requirements—have enabled more people to qualify for credit. Milford, Conn.-based Total Mortgage Services saw jumbo-loan originations increase from 19 in January to 54 in August this year. Read Full Article
Manhattan’s Newest Office Tower to Be Among Priciest for Tenants

Manhattan’s Newest Office Tower to Be Among Priciest for Tenants

SL Green Realty Corp.’s One Vanderbilt skyscraper, which had a groundbreaking ceremony Tuesday, is expected to have rents that would make it among the priciest office buildings in New York City when it’s completed in 2020. The building, at Madison Avenue and 42nd Street just west of Grand Central Terminal, is likely to attract tenants [...]
U.S. Existing-Home Sales Climb to Strongest Rate in Nearly a Decade

U.S. Existing-Home Sales Climb to Strongest Rate in Nearly a Decade

WASHINGTON—Sales of previously owned homes rose to their strongest pace in nearly a decade in June, buoyed by low mortgage rates and an improving economy. The pace of existing home sales increased 1.1% last month from May to a seasonally adjusted rate of 5.57 million, the National Association of Realtors said Thursday. That puts them [...]
Howes: Gilbert backing talks for new development tools

Howes: Gilbert backing talks for new development tools

Mortgage mogul Dan Gilbert is pressing Gov. Rick Snyder for state aid to help complete some of his most high-profile redevelopment projects planned for downtown. The private talks, reported first by the MIRS news service, are part of broader discussions underway within the state economic development community. Read Full Article
Downtown Birmingham condo has 24-hour concierge, on-site staff

Downtown Birmingham condo has 24-hour concierge, on-site staff

This high-polish condo is on the third floor of the Willits, a 58-unit complex in downtown Birmingham where owners share 24/7 concierge, 365-day on-site staff, a state-of-the-art workout room and services that range from dinner reservations to on-site car detailing. This unit, 301, shows slick sophistication with Murano glass, marble floors, beautiful wood built-ins, tray [...]