New Vista Asset Management, a nationwide minority-owned asset management company, has announced an initiative to turn real-estate-owned properties into affordable housing that would increase minority homeownership.Minority-housing experts Gary Acosta and Jim Park, who own the company, will lead the effort that will include a nationwide network of nonprofit counseling agencies and minority real estate and mortgage professionals. Mr. Acosta, founder of the National Association of Hispanic Real Estate Professionals and a career mortgage banker, is chairman of the San Diego-based company. Mr. Park, who has worked at the Federal Housing Administration and Freddie Mac and heads the Asian Real Estate Association of America, is president. "New Vista’s mission is to turn a bad situation into a positive one by using REO properties to create more affordable housing opportunities for minority homebuyers and other underserved populations," Mr. Park said. New Vista can be found online at http://www.newvistareo.com.
-
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
7h ago -
A labor shortage is costing the market tens of thousands of new homes per year, and tariff uncertainty is adding thousands of dollars in expenses per unit.
8h ago -
The pace of revenue growth slowed toward the end of 2024, with the trend continuing into the first three months of this year, NAHB reported.
8h ago -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
8h ago -
The 10 basis point decline in the 30-year fixed mortgage was the most since March and the first time rates are below 6.7% since April, Freddie Mac said.
9h ago -
The firm, now going by Fairway Home Mortgage, said the change is a representation of plans to create a "connected ecosystem."
9h ago