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Michael Gersitz

Michael Gersitz

City of North Tonawanda Real Estate Agent

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FHFA: GSEs can’t exit conservatorship on retained earnings

The Federal Housing Finance Agency and the U.S. Department of the Treasury announced an agreement Thursday that would allow Fannie Mae and Freddie Mac to retain more of their earnings, but now the FHFA is saying this money alone will

Michael Gersitz January 16, 2021 External Articles Read more

People movers: Cherry Creek Mortgage, Knock, Radian, Atlas Title

HousingWire’s people mover section covers the latest hiring announcements in the real estate and mortgage industry. Kicking off this week’s leadership announcements, Cherry Creek Mortgage changed its structure and ownership. Through the restructuring, the company stated that it is 100%

Michael Gersitz January 16, 2021 External Articles Read more

Wells Fargo continues to cede mortgage market share

Wells Fargo, the second-biggest mortgage lender in the nation, continued to cede market share to nonbank rivals in the fourth quarter of 2020. The lender originated $53.94 billion in the fourth quarter, a 12.5% decline from the prior quarter, when

Michael Gersitz January 16, 2021 External Articles Read more

How Biden’s $1.9T stimulus plan impacts housing

President-elect Joe Biden’s $1.9 trillion financial plan, unveiled Thursday as the American Rescue Plan, includes a call for extending the national moratorium on evictions and foreclosures until Sept. 30, while also setting aside funds to provide legal assistance to households

Michael Gersitz January 16, 2021 External Articles Read more

Criminal charges filed against Texas Realtor Jenna Ryan

Nine days after participating in the riot at the U.S. Capitol, federal criminal charges were filed against Frisco, Texas-based Realtor and broker Jenna Ryan. Ryan is charged with “knowingly entering or remaining in any restricted building or grounds without lawful

Michael Gersitz January 16, 2021 External Articles Read more

Biden should make access to mortgage credit a top priority

As the Biden/Harris administration takes office, it faces many crises and challenges – including bridging the partisan divide, ramping up vaccines to end the COVID-19 crisis, jump-starting the economy, and facing huge budget deficits at a time when many believe

Michael Gersitz January 16, 2021 External Articles Read more

Porch breaks into insurtech with $100M acquisition

Fresh off a SPAC merger and public offering that loaded the company with roughly $200 million in fresh capital, proptech firm Porch made four acquisitions this week, notably investing $100 million in an insurtech company. Porch, led by CEO Matt

Michael Gersitz January 16, 2021 External Articles Read more

Trump administration will not end GSE conservatorship

The U.S. Department of the Treasury and the Federal Housing Finance Association issued a joint statement Thursday announcing they will not restructure the taxpayers’ stake in Fannie Mae and Freddie Mac. In other words, the government-sponsored enterprises (GSEs) will not

Michael Gersitz January 16, 2021 External Articles Read more

Figure Lending lands $100M funding facility

Mike Cagney, SoFi SoFi co-founder Mike Cagney’s latest digital mortgage operation Figure Lending closed on a $100 million funding facility from JPMorgan Chase this week. The warehouse facility will allow the company, a subsidiary of Figure Technologies, to originate conventional

Michael Gersitz January 16, 2021 External Articles Read more

JPMorgan Chase amps up correspondent lending

JPMorgan Chase, the nation’s largest depository bank, increased mortgage origination volume to $32.5 billion in the fourth quarter, a 12% gain from the prior quarter. But that doesn’t quite tell the whole story. The Jamie Dimon-led bank increased overall mortgage

Michael Gersitz January 16, 2021 External Articles Read more

Home Point Capital to raise $500M, give half to its owners

Ahead of its independent public offering, Homepoint‘s parent company plans to raise hundreds of millions of dollars in debt to replenish its owners’ wallets. The wholesale lender’s parent company, Home Point Capital, is seeking to raise $500 million in debt

Michael Gersitz January 14, 2021 External Articles Read more

One mortgage company finds higher purpose hiking 14ers

It’s 6:30 in the morning on September 25, 2020, and a small team from The Home Loan Expert is beginning their long climb up Mount Elbert, the highest summit in the Rocky Mountains of North America and the highest point

Michael Gersitz January 14, 2021 External Articles Read more

Own Up eyes national expansion with $12M funding round

A $12 million funding round will enable digital mortgage marketplace company Own Up to expand nationally, company officials said Wednesday. Own Up, which loosely resembles a mortgage brokerage, will expand to 15 new states in 2021, including California. Consumers already

Michael Gersitz January 14, 2021 External Articles Read more

FHFA extends relaxed appraisal, lending standards

The Federal Housing Finance Agency (FHFA) announced on Thursday it has extended relaxed lending and appraisal standards put in place due to COVID-19 another month for both Fannie Mae and Freddie Mac. The flexibilities surrounding alternative verifications of employment and appraisals

Michael Gersitz January 14, 2021 External Articles Read more

7 things that have changed forever in the mortgage industry

The mortgage industry has not traditionally been the vanguard in the adoption of digital solutions particularly in data intelligence and applied machine learning. Investments in proper infrastructure, an innate fear of losing process control, and converting the workforce to a digitally

Michael Gersitz January 14, 2021 External Articles Read more

Mortgage Tech: Black Knight, CoreLogic and Mutual of Omaha

As more and more mortgage tech companies enter the scene, competition for accessibility and personalization gained speed this week as proptech touched down in more niche submarkets. Data analytics giant Black Knight unveiled a new self-service style platform aimed at

Michael Gersitz January 14, 2021 External Articles Read more

Alongside rising yields, mortgage rates increase to 2.79%

The average mortgage rate for a 30-year fixed loan rose from its previous record low by 14 basis points this week to 2.79%, according to Freddie Mac’s Primary Mortgage Market Survey. This marks the first time mortgage rates have risen in

Michael Gersitz January 14, 2021 External Articles Read more

Impact of the CARES Act on mortgage servicing operations

Since the CARES Act was signed into law, homeowners across the U.S. have taken advantage of its mortgage relief provisions. In fact, as of November 2020, a total of 6.5 million borrowers had been, or still were, on a COVID-19-related

Michael Gersitz January 14, 2021 External Articles Read more

The salary needed to buy a home in five large U.S. cities

If you’re considering buying a home, you probably have a lot of questions. One being, how much do you need to earn in a year to afford a mortgage in the U.S.?  Since home prices vary state-by-state, the salary you

Michael Gersitz January 14, 2021 External Articles Read more

Texas Realtor who stormed Capitol responds to backlash

A week after the insurrection at the Capitol, Frisco, Texas-based Realtor Jenna Ryan released a statement condemning the violence, even after multiple videos and photos surfaced – including ones that she filmed herself – of Ryan participating in the insurrection.

Michael Gersitz January 14, 2021 External Articles Read more

Most Popular Home Trends in Texas That Are Worth the Money

In today’s booming housing market, it’s crucial to stand out from the competition and appeal to as many homebuyers as possible. You want your home to sell quickly and for top dollar, right? To help incite multiple offers, and possibly

News Bot January 14, 2021 External Articles Read more

Guaranteed Rate now has a path toward an IPO, whether its CEO wants it or not

It took a few years, but Victor Ciardelli has finally captured the one that got away. The founder and CEO of Guaranteed Rate, which originated $73 billion in mortgages last year, has made joint ventures and acquisitions a cornerstone of his

Michael Gersitz January 13, 2021 External Articles Read more

New-year optimism reflected in mortgage applications jump

Mortgage applications jumped 16.7% after a 4.2% drop last week, according to the Mortgage Bankers Association. The jump underlines the seasonality behind last week’s decrease in mortgage rates, as well as the expectation of additional fiscal stimulus from the incoming

Michael Gersitz January 13, 2021 External Articles Read more

Visa, Plaid terminate $5.3 billion merger agreement

This article was originally published on FinLedger, HW Media’s new, fintech-focused sister publication. Almost exactly a year after announcing their $5.3 billion merger, Visa and Plaid have called off the proposed marriage, and the U.S. Department of Justice has agreed

Michael Gersitz January 13, 2021 External Articles Read more
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  • Phone: (716)870-5786
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About Me

I am a Real Estate Agent based out of Tonawanda, licensed to buy, sell and lease real estate in New York State! Give me a call, it might be the best decision you ever make!


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