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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.
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.
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.
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
Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.
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.
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.
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.
Guild Holdings Co. , the parent company of Guild Mortgage , delivered a profit in the second quarter of 2024, mainly due to the performance of its growing servicing portfolio. Meanwhile, its origination volume increased by 69% from April to June compared to the previous quarter but at lower margins. Net income in Q2 2024 increased to $37.6 million, compared to $28.5 million in the previous quarter, according to filings with the Securities and Exchange Commission (SEC).
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.
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.
Watch the conversation with industry icon Stefan Swanepoel on the “self-centered, arrogant” leaders in real estate, NAR’s missteps and opportunities ahead.
Construction projects are high-stakes operations where even minor inefficiencies can lead to costly delays, safety concerns, and budget overruns. Managing risk in construction has always been a challenge, but as projects grow in complexity, traditional methods no longer cut it. Enter Digital Transformation - a game changer approach that replaces inefficiency with AI-powered analytics, real-time monitoring, and automated workflows to proactively manage risk.
After 25 years at Intuit , Glenn McGillivray has joined Rocket Companies , the parent of Rocket Mortgage , in the newly created role of chief people and places officer, the company confirmed on Thursday. McGillivray will be responsible for the growth and development of the company’s workforce, including oversight of Rocket’s human resources and diversity, equity and inclusion (DEI) teams, its employee training and development group, and Rocket’s executive leadership development capabilities.
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.
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
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.
Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.
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.
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.
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.
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.
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.
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
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
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.
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.
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.
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
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.
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.
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.
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.
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.
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