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 466

Housing Market Marketing Mortgage Sellers 466

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

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).

Retail 421

Retail Valuation Mortgage Technology 421

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

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.

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Home Value Housing Market Construction Buyers 431

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

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.

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Buyers Mortgage 293

Housing Wire

AUGUST 8, 2024

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.

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Human Resources Development Training Lending 421

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 257

Real Estate 257

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 421

Realty Agents Real Estate Brokerage 421

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

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 421

Mortgage Finance Business Marketing 421

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

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 420

Realtors Real Estate Government Development 420

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

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 419

Law Real Estate Realtors Buyers 419

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 221

Marketing 221

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 195

Mortgage Sellers Buyers Investors 195

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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217

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 196

Investors Mortgage Finance 196

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 196

Realtors 196

Inman

AUGUST 8, 2024

Team lead Frank Polsinello said eXp Realty's commissions and benefits "fit the bill perfectly" for the team's needs. The team was ranked No. 16 for RE/MAX Canada this year.

Realty 166

Realty Brokerage Agents 166

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 105

Lending Loan Officers Real Estate Finance 105

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

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 105

Development Marketing 105

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 189

Investing Real Estate Investors Property Management 189

Empire Appraisal Group

AUGUST 8, 2024

The Dangers of Overpricing a Home By Diane Jones Overpricing can scare off buyers, leading a home to be on the market longer. Pricing a home correctly will avoid any problems when it’s time for the appraisal. WASHINGTON – It is definitely best to price your home correctly as soon as the listing goes live. That’s when the most eyes are looking at it.

Real Estate 78

Real Estate Sellers Buyers Market Value 78

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

GoForrmz

AUGUST 8, 2024

Embracing digital solutions to streamline administrative processes in construction The construction industry, traditionally seen as a hands-on field, is rapidly embracing digital transformation. As project complexities grow and regulatory requirements tighten, construction firms are turning to digital solutions to streamline their operations. These tools not only enhance productivity on the ground but also significantly improve administrative processes.

Tools 78

Tools Construction Project Management Training 78

Inman

AUGUST 8, 2024

Post-NAR settlement, it’s never been more critical to generate listings, Jimmy Burgess says. That’s why he sat down with Curaytor’s Jimmy Mackin to highlight these winning strategies.

Agents 172

Agents Marketing 172

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 80

Development Real Estate Marketing 80

Inman

AUGUST 8, 2024

Discover key brokerage takeaways from Inman Connect Las Vegas that will help you enhance you practices, leverage technology and navigate the evolving real estate landscape.

Brokerage 178

Brokerage Real Estate Technology Agents 178

Lamacchia Realty

AUGUST 8, 2024

New York Weekly's recent publication highlights Lamacchia Realty's growth Lamacchia Realty was featured in recent publication by New York Weekly, highlighting our expanding presence in the Northeast, acquiring new offices and attracting top talent. Now with 18 offices, the brokerage continues to offer exceptional service across Massachusetts, New Hampshire, Connecticut, Rhode Island, Maine, and South Florida.

Realty 59

Realty Brokerage Real Estate Business 59

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 186

Luxury Properties Real Estate Marketing 186