Housing Wire

AUGUST 8, 2024

Although there is no doubt that business practice changes outlined in the National Association of Realtors’ (NAR) nationwide commission lawsuit settlement agreement are going to impact how real estate industry professionals operate, economists aren’t too sure they’ll have much bearing on the housing market. “I know that surprises people,” Orphe Divounguy, a senior economist at Zillow, said of the impact of business practice changes on the market.

Housing Market 488

Housing Market Marketing Mortgage Sellers 488

Appraisal Buzz

AUGUST 8, 2024

The U.S. housing market is rapidly approaching the $50 trillion mark, with the total value of homes across the country hitting a record $49.6 trillion, according to a new report by Redfin. This represents a $3.1 trillion increase over the past year, marking a 6.6% year-over-year growth. In a decade, the value of U.S. homes has more than doubled, rising nearly 120% from $22.7 trillion in June 2014.

Valuation 417

Valuation Housing Market Marketing Home Value 417

Housing Wire

AUGUST 8, 2024

Christopher George, the founder of California-based multichannel mortgage lender CMG Financial , has struck a deal to acquire Greenwoods Financial Group , the owner of Greenwoods State Bank. Financials of the deal were not disclosed. George will become an indirect wholly owner of a $575 million FDIC-state chartered bank based in Lake Mills, Wisconsin, that offers products for customers, businesses, and wealth management.

Retail 468

Retail Mortgage Business Marketing 468

Appraisal Buzz

AUGUST 8, 2024

The Single-Family Rental (SFR) inventory and days-on-market continue to climb gradually, according to HouseCanary, Inc. ‘s most recent National Rental Report , which rose by 16.7% and 15.4%, respectively. Trends observed in the southern states were the primary cause of the increases in both indicators. As a result, and in line with earlier data, the steady increase in days-on-market and inventory levels, along with the continued demand for rentals as an alternative to house ownership, led to a m

Inventory 397

Inventory Development Real Estate Tenants 397

Housing Wire

AUGUST 8, 2024

The total value of U.S. homes is poised to cross the $50 trillion mark. That’s according to a new report from Redfin , which shows that housing has added $3.1 trillion in value over the past year, bringing its total value to $49.6 trillion. That’s a 6.6% rise in total value compared to June 2023 and 120% higher than in June 2014. New construction has contributed heavily to the year-over-year rise, with the total number of homes increasing by about 800,000.

Home Value 458

Home Value Housing Market Construction Buyers 458

Appraisal Buzz

AUGUST 8, 2024

The Mortgage Credit Availability Index (MCAI) , a survey from the Mortgage Bankers Association (MBA) that examines information from ICE Mortgage Technology, indicates that mortgage credit availability rose in July. In July, the MCAI increased by 3.3% to 98.1. While increases in the index point to looser credit, a decrease in the MCAI suggests tighter lending requirements.

Mortgage 396

Mortgage Government Lending Construction 396

Appraisal Buzz

AUGUST 8, 2024

The Consumer Financial Protection Bureau (CFPB) has issued a stark warning, revealing that some residential solar lenders are misleading homeowners with confusing loan terms, inflated costs, and exaggerated energy savings claims. The agency’s new report highlights a range of deceptive practices that are leaving consumers vulnerable as the market for solar energy continues to expand.

Finance 370

Finance Government Marketing Lending 370

Housing Wire

AUGUST 8, 2024

Following the slight loss contributed by Longbridge Financial to the first-quarter earnings of parent company Ellington Financial , the reverse mortgage lender turned its fortunes around in the second quarter, which led to praise from the Ellington executive team in a Q2 2024 earnings report released this week. Ellington reported net income contributable to common stockholders of $52.3 million, and $69.1 million from its investment portfolio.

Retail 448

Retail Mortgage Insurance Business 448

Real Estate News

AUGUST 8, 2024

Watch the conversation with industry icon Stefan Swanepoel on the “self-centered, arrogant” leaders in real estate, NAR’s missteps and opportunities ahead.

Real Estate 312

Real Estate 312

Housing Wire

AUGUST 8, 2024

Fathom Holdings Inc. , parent company of North Carolina -based Fathom Realty , announced Wednesday that it has started two new commission plans for agents. The two agent payment plans, Fathom Max and Fathom Share, complement the real estate firm’s existing plan known as Fathom One. The new plans are “designed to enhance agent recruitment and retention while promoting accelerated and sustainable growth and long-term profitability for the company,” according to its announcement.

Realty 448

Realty Agents Real Estate Brokerage 448

Real Estate News

AUGUST 8, 2024

The 30-year mortgage fell to its lowest level since May 2023, which “should begin to pique their interest in making a move” — but buyers might not be ready.

Buyers 306

Buyers Mortgage 306

Housing Wire

AUGUST 8, 2024

Global credit rating agency DBRS Morningstar this week assigned a “good” rating to reverse mortgage industry leader Finance of America (FOA), reconfirming the ranking the company was assigned at a similar point last year. The rating is officially classified as “MOR RVO2” by Morningstar. The agency noted the recent business history of FOA — including the abandonment of its forward mortgage business and its acquisition of American Advisors Group (AAG) — while mentioning the relative stability of i

Mortgage 448

Mortgage Finance Business Marketing 448

Real Estate News

AUGUST 8, 2024

NAR reps discussed upcoming rule changes and reiterated that it does not promote or set compensation: “NAR is agnostic as to where the commission levels are.

Marketing 296

Marketing 296

Housing Wire

AUGUST 8, 2024

On last week’s episode of the Power House podcast , host Clayton Collins and guest Joe Tyrrell, the CEO of Optimal Blue , go in depth on how the mortgage technology firm pushes AI-driven data solutions, innovation and leadership for lenders interested in making better data-driven lending decisions. The duo also discuss growth and profit potential for lenders through the primary and secondary markets.

Technology 447

Technology Lending Clients Tools 447

Real Estate News

AUGUST 8, 2024

Preliminary approval of the deal was granted on Aug. 8, with a final hearing set for Nov. 26. Plus, Batton 2 plaintiffs respond to motions to dismiss.

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Housing Wire

AUGUST 8, 2024

After more than three months of searching, the California Association of Realtors (CAR) has found its new CEO. On Thursday, the trade group announced that it has named Phil Hawkins as its new CEO. Hawkins is currently the head of the Pacific West Association of Realtors (PWR), which is one the the largest local Realtor associations in California. He will succeed Debra Ferrier, who has served as interim CEO of CAR since John Sebree stepped down in mid-April.

Realtors 445

Realtors Real Estate Government Development 445

Real Estate News

AUGUST 8, 2024

Phil Hawkins joins the association following 9 years as CEO of a local California Realtor association, says he is "ready to seize opportunities that lie ahead.

Realtors 264

Realtors 264

Housing Wire

AUGUST 8, 2024

After being dragged back into a homebuyer commission lawsuit, Hanna Holdings , the parent company of Howard Hanna Real Estate Services , is again looking for an exit. On Monday, the firm filed a motion to dismiss Davis commission lawsuit or relocate it to the Western District of Pennsylvania. The suit, which is named after its plaintiff Scott Davis, was filed in late May in the Eastern District of Pennsylvania on behalf of Davis by attorneys at Korein Tillery LLC , the same law firm representin

Law 439

Law Real Estate Realtors Buyers 439

Appraisal Buzz

AUGUST 8, 2024

Mortgage rates plummeted this week, as the average rate for a 30-year fixed-rate mortgage fell to 6.47%, down from 6.73% last week and down from 6.96% a year ago, according to Freddie Mac’s Primary Mortgage Market Survey. “Mortgage rates plunged this week to their lowest level in over a year following the likely overreaction to a less than favorable employment report and financial market turbulence for an economy that remains on solid footing,” says Sam Khater, chief economist for Freddie Mac, i

Mortgage 195

Mortgage Marketing Appraisal 195

Inman

AUGUST 8, 2024

Digital mortgage lender boosted second quarter loan production by 45 percent and says it's on track to originate more than $1 billion in mortgages in Q3 for the first time in two years, but losses continue to mount.

Investors 194

Investors Mortgage Finance 194

Appraisal Buzz

AUGUST 8, 2024

Mortgage credit availability increased in July, rising 3.3% compared with June to a score of 98.1 on the Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI). A decrease in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The index was benchmarked to 100 in March 2012.

Mortgage 195

Mortgage Government Lending Appraisal 195

Inman

AUGUST 8, 2024

Realtor.com parent company Move Inc. saw its fiscal Q4 revenue decrease 2 percent yearly to $143 million as traffic to the site stalls at 74 million average monthly unique visitors.

Marketing 189

Marketing 189

Appraisal Buzz

AUGUST 8, 2024

LoanPASS , which offers configurable loan decisioning and pricing technology, is now integrated with lead-generation platform BankingBridge. The integration makes it easier for mortgage lenders to share real-time loan programs and interest rates with customers on the web. Powered by product eligibility and pricing data from LoanPASS, BankingBridge’s dynamic rate comparison tables can be embedded into any financial institution’s website for a transparent loan shopping experience that builds trust

Lending 195

Lending Technology Investing Business 195

Inman

AUGUST 8, 2024

Waltz provides a digital on-ramp for foreign real estate investors to buy property in the United States. It helps them establish a banking presence, an LLC, gain an EIN, transfer currencies and safely wire funds.

Investing 188

Investing Real Estate Investors Property Management 188

Appraisal Buzz

AUGUST 8, 2024

Mortgage Capital Trading reports that it has been awarded a patent for the security spread commitment used in MCT Marketplace, its mortgage asset exchange. The security spread commitment transforms loan auctions, turning shadow bids into executable prices, the company says in a release. Loan buyers and sellers use the security spread commitment to transact before counterparty approval, vastly increasing liquidity while giving sellers confidence in the price execution of new buyers.

Mortgage 150

Mortgage Sellers Investors Buyers 150

Inman

AUGUST 8, 2024

Hawkins had been working as the CEO of the Pacific West Association of Realtors in Southern California and will now lead C.A.R.

Realtors 188

Realtors Business Real Estate 188

Eyes on Housing

AUGUST 8, 2024

According to the Federal Reserve Board’s July 2024 Senior Loan Officer Opinion Survey (SLOOS), lending standards were essentially unchanged for all residential real estate (RRE) categories in the second quarter of 2024. However, demand for RRE loans remained modestly weaker across all categories in the quarter. Lending conditions were significantly tighter, and loan demand modestly was weaker.

Lending 109

Lending Loan Officers Real Estate Finance 109

Inman

AUGUST 8, 2024

Spanish climate activist group Futuro Vegetal smeared the star footballer's mansion in red and black paint to blame the rich for the climate crisis, while also highlighting the lack of action on the part of the Spanish government, the group said.

Government 187

Government 187

Eyes on Housing

AUGUST 8, 2024

Confidence in the market for new multifamily housing declined year-over-year in the second quarter of 2024, 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 44, a decrease of 12.

Development 109

Development Marketing 109

Inman

AUGUST 8, 2024

Find out how this award-winning Dallas team leader and his team think outside the box when it comes to marketing their listings and why he wishes more agents would do the same.

Agents 186

Agents Marketing Buyers 186

BiggerPockets

AUGUST 8, 2024

Why are developers ditching California NOW? Is commercial real estate still struggling, and what’s up with all those empty office buildings all over town?

Development 90

Development Real Estate Marketing 90

Inman

AUGUST 8, 2024

Franchisor reported its U.S. agent count fell 6.3 percent during the second quarter as revenue fell 4.8 percent compared to a year earlier, according to its earnings report.

Agents 185

Agents Brokerage Marketing 185

Mortgagebroker News

AUGUST 8, 2024

Find out if it reversed last year's loss

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86

Inman

AUGUST 8, 2024

Ultra-luxury sales, or residential sales valued at or above $10 million, totaled $14.6 billion across 838 transactions, an increase of 3.9 percent during the first half of the year.

Luxury Properties 185

Luxury Properties Real Estate Marketing 185