Housing Wire

APRIL 23, 2024

The National Association of Realtors (NAR) can breathe a small sigh of relief. The trade group’s nationwide settlement of the commission lawsuits has passed its first hurdle as Judge Stephen R. Bough, who oversaw the Sitzer/Burnett lawsuit , granted preliminary approval to NAR’s settlement on Tuesday. While the agreement still must receive final approval from the court, the industry is now one step closer to operating under the new rules outlined in the settlement agreement.

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Real Estate News

APRIL 23, 2024

A hearing for final approval is scheduled for Nov. 26. The court filing also included information about who is covered in the nationwide class action.

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Housing Wire

APRIL 23, 2024

New home sales have been one of the brighter housing stories since the home sales crash in 2022 — as we can see in the chart below, new home sales have been able to grow since then. This is one reason why the homebuilder stocks have done so well since November of 2022. The mistake some people made here was that in 2021 and 2022, some people believed housing was overbuilt and lacked the demographic demand to get sales to rise from such low levels in 2022.

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Inventory Construction Mortgage Buyers 479

Real Estate News

APRIL 23, 2024

Real estate has gone through massive changes over the past 50 years, says industry icon Stefan Swanepoel, but it’s time to focus on the future.

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Speaker: Timothy Allsopp

Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.

Construction

Housing Wire

APRIL 23, 2024

Guaranteed Rate made two significant executive appointments, the Chicago -based mortgage lender announced on Monday. CJ Rose was promoted to the role of executive vice president of growth and acquisition, while Chris Hutchens was hired as producing area manager for North Carolina and senior vice president of mortgage lending. Rose will be in charge of recruiting top talent, individuals, groups and companies throughout the industry.

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Housing Wire

APRIL 23, 2024

Three of the biggest topics in housing right now are mortgage rate movements tied to Federal Reserve policymaking, the day-to-day moves in key housing data and forward-looking trends for the housing market. This week at The Gathering by HousingWire in Scottsdale, Arizona, these topics were tackled in separate sessions by HousingWire analyst Logan Mohtashami , Altos Research founder and president Mike Simonsen, and Redfin chief economist Daryl Fairweather, respectively.

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Real Estate News

APRIL 23, 2024

It’s not too late to get on board, but “you have less than a year to figure it out,” AI expert Allie K. Miller told execs at the T3 Leadership Summit.

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Housing Wire

APRIL 23, 2024

Mortgage rates kept climbing on the back of a string of market-moving news. Notably, Federal Reserve Chair Jerome Powell said last week at the Washington Forum that there will be no rate cuts anytime soon because of the strength of the U.S. economy. As a result, HousingWire’s Mortgage Rates Center showed the average 30-year fixed rate for conventional loans at 7.48% on Tuesday, up from 7.26% one week earlier.

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Inman

APRIL 23, 2024

Judge Stephen R. Bough ruled that the sweeping changes NAR agreed to were "fair, reasonable and adequate" and set a final approval hearing for November.

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Advertiser: Trellis

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Real Estate

Housing Wire

APRIL 23, 2024

Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. Is your license renewal on the horizon? Every 12 years, a cosmic thing happens, and agents in all 50 states come due for their real estate continuing education (CE) and licensing renewal. 2024 is that year!

Real Estate 411

Real Estate Agents Best Value Design 411

Appraisal Buzz

APRIL 23, 2024

Mortgage delinquencies were at a rate of 3.2% as of the end of March, a decrease of 4.15% compared with February but up 9.4% compared with March 2023, according to ICE Mortgage Technology’s First Look report. As of the end of the month there were about 1.7 million residential properties 30 days or more past due but not in foreclosure, according to the report.

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Inventory Mortgage Appraisal 195

Housing Wire

APRIL 23, 2024

On Tuesday at The Gathering by HousingWire in Scottsdale, Arizona, Guild Mortgage CEO Terry Schmidt sat down with HousingWire editor in chief Sarah Wheeler to talk about the principles guiding much of the lender’s actions in recruiting, mergers and acquisitions (M&A) and overall business outlook. Building a strong workplace culture was a predominant theme of the discussion, with values defining much of the company’s M&A and recruiting targets, Schmidt said.

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Appraisal Buzz

APRIL 23, 2024

Mortgage industry veteran Kurt Raymond, CMB, has joined Informative Research as senior vice president and borrower journey engineer. Raymond co-founded mortgage industry consulting firm Excelerate Advisors and serves as owner and founder of KATANTCO2, specializing in connecting small and emerging companies to other mortgage industry entities. He spent over a decade in various executive and managerial positions, where he led a highly successful team that included analytics, risk management, train

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Housing Wire

APRIL 23, 2024

Mere hours after news broke that Judge Stephen R. Bough had granted preliminary approval of the National Association of Realtors’ nationwide commission lawsuit settlement agreement , NAR President Kevin Sears took to the stage at HousingWire’s The Gathering to pull back the curtain on how the agreement came about. “It was a very intense negotiation session and the plaintiffs kept moving the finish line,” Sears said of the settlement agreement creation process.

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Realtors Brokerage Agents Real Estate 364

Inman

APRIL 23, 2024

Whether it's commission lawsuit settlements or life in general that's causing your stress, broker-owner Pam Blair offers insight to help you come out stronger on the other side.

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Brokerage Agents 179

Housing Wire

APRIL 23, 2024

The U.S. Department of Labor (DOL) on Tuesday announced a new rule that governs retirement advice, requiring more financial advisers to follow stricter fiduciary standards when dispensing advice about retirement-focused investments. The rule is designed to “protect the millions of workers who are saving for retirement diligently and rely on advice from trusted professionals on how to invest their savings,” DOL said in its announcement.

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Investing Investors Design Government 362

Inman

APRIL 23, 2024

Sarah Stewart only learned her Hamptons vacation home was fraudulently listed on the rental platform after someone called her to confirm that they should wire $25,000 outside of the Airbnb platform.

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Agents Brokerage 177

Housing Wire

APRIL 23, 2024

Rocket Mortgage launched a new artificial intelligence (AI) tool on Tuesday that allows its client experience teams to analyze sentiment, record behavior patterns, transcribe conversations and create tailored experiences during customer interactions. The lender estimates it will save tens of thousands of hours annually. That’s the latest step the mortgage lender has taken to integrate AI into its operations.

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Inman

APRIL 23, 2024

Sales of newly built, single-family homes rose 8.8 percent in March, a reflection of the beginning of a busy homebuyer season. New-home sales rose 8.3 percent year over year, according to the U.S. Census Bureau.

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Business Construction Marketing 174

Housing Wire

APRIL 23, 2024

Mr. Cooper Group named former Wells Fargo Home Lending executive Ranjit Bhattacharjee and former Piper Sandler analyst Kevin Barker to its leadership team on Tuesday. Bhattacharjee will officially join Mr. Cooper on May 6 as its executive vice president and chief investment officer. He will be responsible for oversight of capital markets and correspondent lending , reporting directly to chairman and CEO Jay Bray.

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Real Estate News

APRIL 23, 2024

Homes.com subscription sales to agents are the biggest product launch in CoStar history, said CEO Andy Florance, as the company pursues portal dominance.

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Housing Wire

APRIL 23, 2024

New-home sales reached a seasonally adjusted annual rate of 693,000 in March, according to data published Tuesday by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development ( HUD ). This figure represents an 8.8% increase from the revised February rate of 637,000 sales, and it also marks an 8.3% rise from the March 2023 pace of 649,000 units sold.

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Inventory Marketing Development Mortgage 352

Inman

APRIL 23, 2024

The Virginia-based commercial and residential real estate behemoth released its first-quarter earnings on Tuesday, which revealed the company grew its revenue 12 percent year over year to $656 million. The company remained profitable, although its net income dropped 91 percent from $87 million in Q1 2023 to $7 million.

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Real Estate Technology 166

Housing Wire

APRIL 23, 2024

The HousingWire award spotlight series highlights the individuals and organizations that have been recognized through our Editors’ Choice Awards. Nominations for HousingWire’s 2024 Marketing Leaders award are open now through April 30th, 2024. Click here to nominate someone. The HousingWire Marketing Leaders award recognizes outstanding professionals who have demonstrated excellence in marketing within mortgage and real estate.

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Marketing Project Management Advertising Real Estate 347

Inman

APRIL 23, 2024

Consistent home price appreciation is touted as the main benefit of homeownership; however, runaway home price growth over the past five years has homeowners feeling locked into a financial prison. According to Redfin's latest market study, 38 percent of 3,000 homeowners said they couldn't afford their home if they were to buy it today. As a result, homeowners are staying in place much longer — 59 percent said they've been in their home for at least 10 years and 21 percent have been in their hom

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Housing Wire

APRIL 23, 2024

New York-based multichannel lender US Mortgage Corporation previously announced that it was renewing its efforts in the reverse mortgage industry, having hired industry veteran Ken Krajewski to serve as managing director and head of reverse mortgage lending. To go deeper into the company’s renewed efforts in the space, RMD sat down with Krajewski and US Mortgage Corporation President Scott Milner about the groundwork the company is laying in the reverse space today, and what it hopes to achieve

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Eyes on Housing

APRIL 23, 2024

Despite higher interest rates last month, new home sales rose in March due to limited inventory of existing homes. However, the pace of new home sales will be under pressure in April as mortgage rates moved above 7% this month, which is expected to moderate sales and increase the use of builder sales incentives this.

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Housing Wire

APRIL 23, 2024

Real estate coach Tom Ferry is launching a new artificial intelligence (AI)-powered chatbot that is specifically designed for real estate professionals. The firm describes TomAI as a “version of ChatGPT trained on 20+ years proven-effective real estate strategy from hundreds of the industry’s leading coaches and thousands of market-dominating agents.

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Tools Real Estate Training Real Estate Agent 324

Inman

APRIL 23, 2024

Digital twin creation company Matterport has sold to CoStar, parent of home search experience Homes.com and Zillow's chief rival. The deal stands to greatly increase the amount of industry data available to the company for use in its appeal to both real estate agents and consumers.

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Real Estate Agent Real Estate Agents Technology 153

Housing Wire

APRIL 23, 2024

CoStar Group reported a strong first quarter of 2024, with its revenue of $656 million marking a 12% increase from the $584 million figure it posted in first-quarter 2023. But the company posted a net profit of only $7 million, significantly less than in previous quarters. This dip can be partly attributed to the recent acquisition of 3D scanning company Matterport , as well as the costs associated with the Homes.com marketing campaign during the Super Bowl LVIII broadcast in February.

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Real Estate Advertising Legal Brokerage 321

Inman

APRIL 23, 2024

Ohio-based Union Home Mortgage boosted its market share by acquiring Amerifirst Home Mortgage. Now it's got a new divisional leadership structure to support its "rapidly expanding, nationwide footprint.

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Mortgage Marketing 141

Housing Wire

APRIL 23, 2024

loanDepot CEO Frank Martell expects the current mortgage market cycle to be “longer and tougher than anybody expected.” Adding to this challenge, lenders must deal with an increased risk of cyberattacks, something that loanDepot itself experienced earlier this year. “At least around loanDepot, people were doing high 5s [30-year fixed mortgage rates] in the fourth quarter of last year, thinking rates were to come down, and things were going to take off.

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Mortgage Real Estate Agent Real Estate Renovations 315