Housing Wire
NOVEMBER 16, 2023
Freddie Mac will launch a new fee-based repurchase alternative pilot program for performing loans in 2024, designed to improve the quality of performing loans through a potential replacement of its current repurchase policy for defective performing loans. “The pilot will use a fee-based structure that is more efficient, transparent and rewards lenders that deliver high-quality loans,” the GSE said.
Real Estate News
NOVEMBER 16, 2023
Tom Ferry offers advice on "choosing your hard" and building in time to work on your business.
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Housing Wire
NOVEMBER 16, 2023
Elevated mortgage rates sank builder confidence again in November, but recent economic data suggests housing conditions will pick up in the coming months. Builder confidence dropped six points to 34 in November, the fourth consecutive monthly drop, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The data collected for the survey was submitted ahead of Tuesday’s release of the October Consumer Price Index (CPI) report from the U.S.
Real Estate News
NOVEMBER 16, 2023
As rates decline for a third straight week, mortgage applications have risen, suggesting the possibility of a jump in year-end home sales.
Speaker: Timothy Allsopp
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Housing Wire
NOVEMBER 16, 2023
Mortgage demand for new homes jumped in October as the inventory for existing homes remained depleted. Mortgage applications for new-home purchases rose 39.7% in October on a year-over-year basis and were up 6% from the previous month, according to the Mortgage Bankers Association (MBA) Builder Application Survey for October. “Home builders have been able to temper this high-rate environment by offering buyers rate buydowns and other incentives,” Joel Kan, MBA’s vice president and deputy chief e
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Housing Wire
NOVEMBER 16, 2023
Mortgage rates fell this week as the October inflation report drove down the yield on the 10-year Treasury. On Thursday, investors priced in a 99.7% chance that the Fed will hold interest rates steady in December, according to the CME Group’s FedWatch tool. The 30-year, fixed mortgage averaged at 7.44% as of Nov. 16, according to Freddie Mac ‘s Primary Mortgage Market Survey.
Inman
NOVEMBER 16, 2023
If a recession comes, writes Jimmy Burgess, keep in mind that it is not just a time of challenges but also of opportunities. Here he lays out ways to lead gen and lead nurture now.
Housing Wire
NOVEMBER 16, 2023
As copycat commission lawsuits spread across the country in the wake of the Sitzer/Burnett jury verdict, a new demographic of plaintiffs’ attorneys are getting in on the action: so-called “ambulance chasers.” While the plaintiffs in the Moehrl , Sitzer/Burnett and Nosalek lawsuits are all represented by large law firms with class-action experience, the plaintiff in the relatively small Burton suit in South Carolina is represented by attorneys at Knie & Shealy Law Offices in Spar
Inman
NOVEMBER 16, 2023
At a forum for reps of 50 large brokerage firms, The Realty Alliance CEO Craig Cheatham asked why the nearly 1.6 million-member trade group can't use its political influence for an "existential threat.
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Housing Wire
NOVEMBER 16, 2023
HousingWire Editor in Chief Sarah Wheeler sat down with Jason Bressler , CTO at United Wholesale Mortgage (UWM) to talk about how the lender is developing a smart, innovative IT team by giving them a safety net to fail. This interview has been edited for length and clarity. Sarah Wheeler: UWM develops all their software in-house. What are some of the advantages of that?
Inman
NOVEMBER 16, 2023
Local Logic’s tool set for turning granular community data into marketing advantages for real estate agents is now part of a prominent MLS software provider’s value proposition, according to a November 14 press release.
Housing Wire
NOVEMBER 16, 2023
ANAHEIM, Calif. — Andy Florance, founder and CEO of CoStar Group , wants to set one thing straight: his company had nothing to do with the commission lawsuits now rocking the real estate world. “We had zero involvement with that lawsuit. We learned about it from NAR long after it started,” Florance said in an interview with HousingWire at the National Association of Realtors NXT convention in Anaheim on Wednesday.
Inman
NOVEMBER 16, 2023
As part of his Snapshot series, Brandon Doyle peers into the mind of a distinguished leader who's helped shape the real estate landscape on a global scale: Adam Contos, the former CEO of RE/MAX.
Housing Wire
NOVEMBER 16, 2023
Despite multiple class-action antitrust commission lawsuits , increased uncertainty over mortgage rates and low housing inventory , Compass CEO and founder Robert Reffkin says “there has never been a better time to be in real estate than right now.” Reffkin’s remarks were made on Wednesday on an outdoor stage in San Diego in front of thousands of agents during his firm’s annual Compass RETREAT.
Inman
NOVEMBER 16, 2023
Homebuyers don't just want good rates. They want lenders to solve problems that will keep them from getting to the closing table, J.D. Power finds.
Housing Wire
NOVEMBER 16, 2023
For decades, disruptors and innovators in the residential real estate industry have been trying to chip away at the near monopoly that Realtors have had over home sales. The monumental verdict in the Sitzer/Burnett commission lawsuit trial may finally be the giant-killing blow against the National Association of Realtors (NAR). Unless the decision is appealed, NAR will have to pay at least $1.8 billion in damages to residential home sellers who successfully proved that the organization – w
Inman
NOVEMBER 16, 2023
Through the program, soon-to-be agents will be able to obtain their real estate license while simultaneously learning how to sell in some of the world's most competitive real estate markets.
Housing Wire
NOVEMBER 16, 2023
Nonbank originator Change Lending and the U.S. Department of the Treasury have agreed to settle a lawsuit in which the lender claims “flawed analysis and mathematical errors” led to its decertification as a Community Development Financial Institution (CDFI). The parties announced on Thursday that Change will remain a certified CDFI until the lender’s next application related to the fiscal year 2025 is determined.
Inman
NOVEMBER 16, 2023
Compass' chief real estate strategist is speaking this week at the brokerage's annual RETREAT on "The Future of the Industry and Client Representation." In a recent conversation with Inman, he shared insights and predictions.
Housing Wire
NOVEMBER 16, 2023
Despite ongoing uncertainty and a variety of economic headwinds, Fitch Ratings is maintaining a neutral outlook on the title insurance market for 2024, according to a report released Thursday. Fitch said its neutral outlook is underpinned by Fitch’s view that mortgage rates are near peak levels. Although Fitch said it is expecting another 25-basis-point hike to the Federal Funds rate in the coming months, it did say that it’s expecting the first interest rate cut in May 2024.
Inman
NOVEMBER 16, 2023
October saw builder confidence in the market for newly built single family homes fall six points to a measure of 34.
Housing Wire
NOVEMBER 16, 2023
CUSO Home Lending rolled out Dark Matter Technologies ’ Empower loan origination system (LOS) for its credit union owners. CUSO Home Lending — a lender owned by Maine credit unions — became the first credit union service organization to leverage Empower’s newly developed joint-venture feature that allows credit unions to offer individualized branding, products and pricing while saving costs under CUSO’s shared services model.
Inman
NOVEMBER 16, 2023
As we approach the final weeks of 2023, agents are continuing to migrate from legacy brands to low-fee, cloud-based brokerages. Mike DelPrete looks at the numbers and trends.
Housing Wire
NOVEMBER 16, 2023
William Shakespeare said it well: “All the world’s a stage, And all the men and women merely players.” I relate, as much of my life and career has been spent in the public eye. From working as a high-profile real estate agent and founding my company The Agency to writing my book “The Dealmaker” and having my own show “Buying Beverly Hills” — as well as having my personal life in the headlines — I’ve had the unique experience of embracing life’s great stage.
Inman
NOVEMBER 16, 2023
Find out how the MOJO Group founders made the transition to The Agency Salt Lake City and how they're looking to redefine luxury real estate.
Housing Wire
NOVEMBER 16, 2023
New findings from the National Association of Realtors (NAR) show a fresh picture of who’s buying and selling homes, with more first-time buyers entering the market and families looking for homes that fit multiple generations. Zillow’s 2023 Consumer Housing Trends Report finds that first-time buyers now make up 50% of all home buyers, up from 45% last year and a meaningful jump from 37% in 2021.
Inman
NOVEMBER 16, 2023
The council decided to base the increase on inflation data from October 2022 through September 2023 rather than the prior year, which would have resulted in a steeper rent hike, according to the "Los Angeles Daily News.
Housing Wire
NOVEMBER 16, 2023
The third quarter of 2023 shows significant shifts in the performance of teams reflecting both the decline in housing sales activity and the pressure on margins occurring throughout the brokerage business, according to the Streamlined Quarterly Team Benchmarking Report , which looked at the financial performance of more than 200 teams across the nation.
Inman
NOVEMBER 16, 2023
After spending years as a faithful cold caller, find out why Realtor Jonathan Pressman decided the return on investment was no longer worthwhile.
Eyes on Housing
NOVEMBER 16, 2023
High mortgage rates that approached 8% earlier this month continue to hammer builder confidence, but recent economic data suggest housing conditions may improve in the coming months. Builder confidence in the market for newly built single-family homes in November fell six points to 34 in November, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI).
Inman
NOVEMBER 16, 2023
The needs of real estate teams are unique and varied, according to Troy Palmquist. Find out how brokers can better serve those needs and how team leaders can make choices that work for everyone.
Eyes on Housing
NOVEMBER 16, 2023
Confidence in the market for new multifamily housing was in negative territory for the third quarter, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB). The MMS produces two separate indices. The Multifamily Production Index (MPI) had a reading of 38 – well below the break-even point of 50 –.
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