Housing Wire

JANUARY 24, 2025

Rocket Mortgage scored a big win this week after the Fourth Circuit on Thursday vacated a $10 million judgment in a class action over a decade old. However, a 2021 Supreme Court decision, TransUnion LLC v. Rocket Mortgage has faced other legal activity over the last year. The latest ruling from the U.S

Mortgage 353

Mortgage Legal Appraisal Valuation 353

Appraisal Buzz

FEBRUARY 17, 2025

homeowners with mortgages nationwide have an interest rate higher than or equal to 6%, the highest percentage since 2016. of homeowners who hold mortgages is less than 6%. of homeowners with mortgages had a rate below 6% in Q3 of 2023. The pandemic-era record low of 2.65% for mortgage rates has already been more than doubled.

Mortgage 347

Mortgage Real Estate Agent Home Value Agents 347

Housing Wire

NOVEMBER 13, 2024

Movement Mortgage has named Steve Smith, a mortgage veteran who most recently served as Movement’s executive advisor, as its new president and chief financial officer. compared to the same period last year, according to Inside Mortgage Finance (IMF). The announcement was made Wednesday.

Mortgage 370

Mortgage Loan Officers Retail Finance 370

Housing Wire

DECEMBER 20, 2024

At the beginning of 2024, mortgage technology company LoanPASS was announced as a technology partner for reverse mortgage lender Smartfi Home Loans. Getting the hang of reverse Mitchell is a 25-year veteran of the mortgage technology space, primarily working for LOS companies.

Mortgage 393

Mortgage Technology Modernization Business 393

Housing Wire

APRIL 9, 2025

Department of Housing and Urban Development (HUD) Office of the Inspector General (OIG) related to the Home Equity Conversion Mortgage ( HECM ) program, there are four open recommendations according to a review by HousingWire ‘s Reverse Mortgage Daily (RMD). Three of them, however, are largely centered on the same issue.

Mortgage 319

Mortgage Insurance Retail Legal 319

Housing Wire

OCTOBER 21, 2024

Another regulator has sued Rocket Mortgage for allegedly discriminating against a Black homeowner by undervaluing her home during an appraisal in Colorado three years ago. The document states that the plaintiffs undervalued a homeowner’s property based on her race in an appraisal made in 2021 in Denver. ” On Monday, the U.S.

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Appraisal Reconsideration of Value Valuation Law 511

Housing Wire

JANUARY 8, 2025

Bayview Asset Management and three subsidiaries have agreed to pay a $20 million fine and implement a corrective plan following a 2021 data breach that affected 5.8 mortgage servicer as of September 2024, with an owned portfolio of $728 billion, per Inside Mortgage Finance. million customers. Lakeview was the third-largest U.S.

Mortgage 405

Mortgage Finance 405

Housing Wire

APRIL 2, 2025

New York-based Roam , a platform for purchasing a home with an assumable low-rate mortgage included, announced on Wednesday that it has secured $11.5 Assumable mortgages are the #1 non-inflationary lever that should be pulled over the next four years to make housing more affordable, Rabois said in a statement.

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Mortgage Sellers Buyers Law 264

Housing Wire

NOVEMBER 13, 2024

The past two years have been tough, but even before 2021, Black homeownership was either falling or stagnant and remains far from its pre-2004 high of nearly 50%.” Lower-income Black and white mortgage applicants were also found to be paying higher interest rates in general than those of greater means, the report said.

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Real Estate Mortgage Finance Housing Market 409

Housing Wire

NOVEMBER 19, 2024

Minneapolis Fed President Neel Kashkari recently stated that housing demand is high so the clearance rate (mortgage rates) should be higher. Builders pay down mortgage rates as much as possible to move products, so Kashkari’s comment on clearance rates shows that he doesn’t know what he is talking about.

Construction 539

Construction Mortgage Development Buyers 539

Housing Wire

OCTOBER 30, 2024

A California regulator has revoked the residential mortgage lending license of LoanSnap , the latest in a series of difficulties for the fintech lender. The company — which is headquartered in Costa Mesa, California — also lost its mortgage lender license in Connecticut earlier this month.

Landlords 444

Landlords Loan Officers Lending Contracts 444

Housing Wire

FEBRUARY 7, 2025

is taking steps to establish a permanent program seeking to protect its older residents with reverse mortgages from foreclosure. council enacted the Fairness and Stability in Housing Amendment Act of 2024 , which amends specific housing agency laws to allow for protections for older district residents with a reverse mortgage loan.

Mortgage 264

Mortgage HOA Law Insurance 264

Appraisal Buzz

FEBRUARY 24, 2025

After hitting a two-year high in September 2024, mortgage refinance activity is once again slowing as interest rates remain elevated. When mortgage rates hit record lows in 2021, refinancing volume soared, exceeding $2.2 in October 2024, the average 30-year fixed mortgage rate fell to 6.1%

Contracts 374

Contracts Mortgage Appraisal 374

Housing Wire

JANUARY 29, 2025

High mortgage rates, low inventory and sky-high prices resulted in historically low sales at a time when agents are already wrestling with the changes related to the $418 million antitrust settlement signed by the National Association of Realtors (NAR). This is particularly true for builders with in-house mortgage businesses.

Sellers 419

Sellers Housing Market Realtors Inventory 419

Housing Wire

NOVEMBER 4, 2024

As high mortgage rates reshape the housing market, existing homes are making up a larger percentage of for-sale inventory, and homebuyers are taking notice. Recently, the “lock-in effect” has kept homeowners with historically low-rate mortgages from selling, but this effect is easing. million units. The sales pace was down 3.5%

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Marketing Inventory Construction Realtors 362

Appraisal Buzz

NOVEMBER 1, 2024

The lock-in effect has begun to lessen, in part because people are sick of waiting for mortgage rates to drop before selling their house and looking for a new one. year-over-year, in part because to builders’ efforts to attract buyers with incentives including cash toward closing costs and mortgage-rate buydowns. of mortgaged U.S.

Construction 370

Construction Inventory Real Estate Agent Agents 370

Housing Wire

NOVEMBER 22, 2024

housing market slowed down in the third quarter due to rising home prices and higher mortgage rates , investor purchases also ramped down, according to a new report by Redfin. in Q1 2022, when investors were taking advantage of low mortgage rates. As the U.S. Investors purchased $38.8 billion worth of properties in Q3 2024, up 3.4%

Investors 480

Investors Real Estate HOA Housing Market 480

Appraisal Buzz

DECEMBER 23, 2024

This most recent study comes after two earlier studies conducted by Freddie Mac in 2016 and 2021, which aimed to monitor boomers opinions and attitudes in a number of important areas. Compared to 2021 (81%), this is lower than in 2016 (76%). Key findings include: Retirement perceptions. As of Q2 of 2024, baby boomers owned $17.3

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Finance Mortgage Technology Investing 433

Housing Wire

DECEMBER 20, 2024

Higher prices, higher mortgage rates and limited inventory are making for a slow market among buyers and sellers alike. Real estate investors tend to be more insulated from these dynamics, particularly from mortgage rates, as they are more likely to buy properties with cash. Home sales in 2024 have been well below historic norms.

Investors 447

Investors Housing Market Marketing Real Estate 447

Housing Wire

OCTOBER 17, 2024

Better said its new tool communicates with potential and current customers by answering mortgage application questions, verifying outstanding application data and connecting with Tinman in real time. Kevin Ryan, Better’s chief financial officer, said that the average cost to sell and process a mortgage in the U.S.

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Loan Officers Tools Technology Mortgage 431

Housing Wire

DECEMBER 30, 2024

Despite rising mortgage rates through much of 2024, recent indications show growing boldness among homebuyers heading into the new year. These increases are persisting despite mortgage rates near 7%. ” Housing industry experts attribute the recent increases in pending home sales to a shift in buyer attitudes about mortgage rates.

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Inventory Buyers Housing Market Mortgage 430

Housing Wire

DECEMBER 19, 2024

Total refinance volume increased in the third quarter of 2024 as mortgage rates decreased but remained above the levels observed through 2021, the report added. Mortgage rates fell between June and September: the average interest rate on a 30-year fixed rate mortgage decreased from 6.92% to 6.18%.

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Government Finance Mortgage Business 379

Appraisal Buzz

OCTOBER 14, 2024

in December 2021. The slow climb back continued steadily until interrupted in 2021, but the course has now been corrected. Data from the Homeowners Mortgage Disclosure Act (HMDA) shows that Hispanics face higher fees when purchasing a home, averaging $2,812 compared to the national average of $2,072.

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Home Value Construction Buyers Mortgage 394

Appraisal Buzz

NOVEMBER 6, 2024

According to a recent Zillow poll, nearly half of recent homebuyers who obtained a mortgage did so at a rate lower than 5%. Even though mortgage rates are currently close to 7%, many purchasers who bought a home within the last year used unconventional thinking to become homeowners. Look into rate buydowns and mortgage points.

Buyers 370

Buyers Marketing Sellers Loan Officers 370

Housing Wire

JULY 25, 2024

Home insurance premiums have risen by as much as $865 this year for homeowners who originally purchased their policies in 2021. In response, the mortgage industry and federal regulators are aiming to determine the best courses of action to mitigate the financial burdens on both homeowners and insurance carriers. in 2023 and 5.9%

Insurance 474

Insurance Mortgage Government Marketing 474

Housing Wire

JUNE 3, 2024

Mortgage subservicer Dovenmuehle Mortgage announced two promotions within its business development team this week. Torres joined Dovenmuehle in 2021 as part of the technology research and development team in San Francisco before transitioning to the business development team in 2022.

Mortgage 440

Mortgage Development Business Technology 440

Appraisal Buzz

JANUARY 27, 2025

A report on the financial results for borrowers of cash-out refinance mortgages has been released by the Consumer Financial Protection Bureau (CFPB). However, combining mortgage debt with non-mortgage debt can make foreclosure more likely. Over 40% of respondents chose that explanation for 2020 and 2021.

Construction 365

Construction Mortgage Finance Appraisal 365

Housing Wire

MARCH 3, 2025

A bill that would seek to bolster the disclosures that reverse mortgage lenders make to potential clients in an effort to broaden their understanding of the product inside New York state is getting pushback from industry advocates. Leroy Comrie (D-Queens), who introduced the bill on Jan. Again, it’s very concerning, Irwin said.

Mortgage 225

Mortgage Law Property Taxes Clients 225

Housing Wire

MAY 13, 2024

In 2023, home purchases slowed across the board due to low levels of inventory, high mortgage rates and soaring home prices. Nationwide, 90,772 mortgages for second homes were originated in 2023, down 40% from a year earlier and down 65% from the height of the post-pandemic housing boom in 2021, according to a new report from Redfin.

Mortgage 449

Mortgage Marketing Buyers Investing 449

Housing Wire

DECEMBER 9, 2023

The most underreported housing story I’ve seen this year is that even with mortgage rates rising to 8%, the number of homes that took price cuts before they sold was 4% below 2022 levels. This happened even with higher home prices and higher mortgage rates in 2023. Now lets take a look at the weekly inventory data.

Mortgage 534

Mortgage Inventory New Listings Sellers 534

Housing Wire

OCTOBER 24, 2024

The company noted that the supply of properties available at auction dropped to its lowest level since Q3 2021, when the post-pandemic federal foreclosure moratorium was still active. Higher rehabilitation costs (49%) and unfavorable mortgage rates (30%) were the next most common factors.

Housing Market 482

Housing Market Marketing Retail Development 482

Housing Wire

JANUARY 7, 2025

Between January 2018 and October 2021, Experian reportedly failed to forward more than 2 million disputes to furnishers within the required five-business-day window, the lawsuit states. In addition, the consumer watchdog claims Experian withheld consumer-submitted documentation from furnishers that could support dispute claims.

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Law Finance Real Estate Business 413

Appraisal Buzz

APRIL 10, 2025

Additionally, in 2021, they had to make $63,925 in order to afford the average home for sale, which was only 17.3% A home is deemed affordable by Redfin if the monthly housing payment for a buyer who takes out a mortgage does not exceed thirty percent of their income. higher than the average rental income of $65,600.

Construction 329

Construction Landlords Mortgage Finance 329

Housing Wire

FEBRUARY 5, 2025

The companys baseline forecast is for 69,000 foreclosure-auction sales this year, down 8% from 2024 and the lowest figure for any year aside from 2021, when pandemic-induced foreclosure moratoriums were in place. Volume from October through December was down 11% year over year for the lowest level of auction sales since Q3 2021.

Retail 396

Retail Renovations Buyers Finance 396

Housing Wire

NOVEMBER 20, 2024

metropolitan areas from 2018 through 2021. According to the mortgage tech platform Modex , HSBC originated about $3.5 billion in mortgages in the last 12 months, most of them purchases (77% of the total) and conventional (90%) loans. California and Washington are the bank’s main markets.

Loan Officers 411

Loan Officers Lending Development Investing 411

Housing Wire

MAY 29, 2024

Calque , a company that partners with lenders to offer non-contingent mortgages to homebuyers, has announced new strategic partnerships with Fancher Mortgage Group and Jones Mortgage Group to extend its Trade-In Mortgage product. The product enables homeowners to prepare their original home for sale after moving.

Mortgage 448

Mortgage Buyers Sellers Agents 448

Housing Wire

SEPTEMBER 25, 2024

Applicants hoping to get a mortgage job in 2024. After cutting to the bone over the past three years, several large mortgage lenders are beginning to ramp up hiring. As a group, the number of employees shrank by 46%, from 88,203 in 2021 to 47,940 in 2023. Image created by AI in Midjourney.)

Mortgage 453

Mortgage Loan Officers Retail Training 453