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CFPB warns consumers about home equity contracts, comparing their features to reverse mortgages

Housing Wire

The Consumer Financial Protection Bureau (CFPB) this month published an issue spotlight that takes a closer look at home equity contracts, or what the industry refers to as home equity investments (HEIs) that offer a lump sum payment to clients in exchange for a stake in their home equity.

Contracts 370
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Home sellers who didn’t list on the MLS lost $1B in sale proceeds: Zillow

Housing Wire

The data is clear that selling off the MLS costs home sellers in communities of color thousands of dollars in lost value, Zillow senior economist Orphe Divounguy said in a statement. We must maintain transparency in the housing market so we dont go back to the dark ages of real estate. To conduct its study, Zillow analyzed 2.72

Sellers 501
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Spring Housing Inventory Jumps, But Buyers Remain Hesitant Amid Economic Turmoil 

Appraisal Buzz

As more properties came ontothe market and overall inventory increased for the 17th consecutive month, the U.S. housing market showed signs of a sustained recovery this spring, according to Realtor.com s March Housing Trends Report. Were seeing a market thats rebalancing, offering more choices for shoppers. year-over-year.

Inventory 335
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Zillow Reveals 2024’s ‘Most Desirable’ Cities 

Appraisal Buzz

For the second consecutive year, Zillows ranking of the most popular markets was dominated by Northeastern cities. While only one West Coast market, which led the way in 2021, made it into the top 10, the Midwest also performed well. As a result, average home values have increased by 7.3% to $415,000 in the last year.

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Hot home-equity market fueling securitization deals

Housing Wire

New York-based Unlock Technologies , a fintech operating in the shared-equity market, and real estate investment firm Saluda Grade , have closed a $180 million private-label securitization (PLS) backed entirely by Unlock-originated residential home-equity agreements (HEAs).

Marketing 397
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Dave Stevens on understanding this housing market

Housing Wire

I have been part of the mortgage banking industry since 1983 — 39 years to date through different housing markets. In many ways it was similar to today, with one exception: When I started, I hadn’t been spoiled by a housing market like the one in 2020 and 2021. The housing market won’t be like this forever.

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Working with buyers in the nation’s hottest housing market

Housing Wire

Austin, Texas might be the hottest housing market in the country. In addition to the same demographic factors driving growth elsewhere — all those millennials buying homes — the number of companies relocating there is a huge draw. year-over-year increase in home values. It is just a super tight housing market.