Housing Wire

OCTOBER 31, 2024

Over the last decade, real estate transactions have increasingly become a prime target for cybercrime. Far from slowing down, the scams are becoming more prevalent, sophisticated, and difficult to recognize as fraudulent. With October being Cybersecurity Awareness Month, it is important that the real estate industry and consumers speak up and spread the word about how to prevent these real estate cybercrimes.

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Real Estate Government Tools Buyers 415

Appraisal Buzz

OCTOBER 31, 2024

An estimated 1.4 million (1,355,909) residential homes in the U.S. remain unoccupied, according to ATTOM ‘s fourth-quarter 2024 Vacant Property and Zombie Foreclosure Report. That percentage, or one in 77 households nationwide, is about the same as it was in the third quarter and only somewhat higher than it was a year ago. In Q4 of this year, 215,601 residential properties in the U.S. were in foreclosure, according to the data.

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Housing Market Marketing Investors Construction 369

Housing Wire

OCTOBER 31, 2024

Interior property data company CubiCasa announced the launch of an interactive touring product for listing agents. The new CubiCasa Tour product will create interactive, virtual property tours within minutes. The new product uses similar software to CubiCasa’s Floor Plans, another virtual listing tool that builds floor plans in five minutes or less.

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Tools Agents Property Management Real Estate 452

Appraisal Buzz

OCTOBER 31, 2024

Homebuyer affordability improved slightly in September, as the national median payment applied for by purchase applicants fell to $2,041, down from $2,057 in August, according to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index (PAPI). The index measures how new monthly mortgage payments vary across time – relative to income – using data from MBA’s Weekly Applications Survey (WAS).

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Mortgage Buyers Appraisal 393

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 With construction projects becoming more complex, outdated processes are no longer sustainable.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

OCTOBER 31, 2024

It’s been one year since the Sitzer/Burnett verdict was rendered in Missouri. What has changed for real estate brokerages since then? (Image generated by AI in Midjourney) Editor’s note: This is the fourth in a series of articles that will explore the effects of the landmark Sitzer/Burnett case, which was decided on Oct. 31, 2023, and has since reshaped the business practices for real estate brokerages and agents across the country.

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Real Estate Brokerage Agents Training 373

Housing Wire

OCTOBER 31, 2024

In the halls of the Colorado Convention Center on Monday, it was hard not to overhear mortgage bankers gnashing their teeth over the rumored price hikes for Fair Isaac Corp (FICO) scores. “They’ve got us by the balls,” said one mortgage pro in an interview between sales meetings at Mortgage Bankers Association (MBA) Annual 2024 in Denver. “It’s an abuse of power, a complete monopoly.” “It’s outrageous,” huffed another in an interview as he wa

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Appraisal Buzz

OCTOBER 31, 2024

In September, the national median payment that purchase applicants sought for dropped from $2,057 in August to $2,041, indicating an improvement in homebuyer affordability. This is in line with the Mortgage Bankers Association ‘s (MBA) Purchase Applications Payment Index (PAPI), which uses information from the MBA Weekly Applications Survey (WAS) to calculate how new monthly mortgage payments change over time in relation to income.

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Housing Wire

OCTOBER 31, 2024

California-based personal finance company NerdWallet has struck a deal to acquire brokerage firm Next Door Lending. Jonathon Haddad, chairman and CEO of the Association of Independent Mortgage Experts (AIME), is one of the owners of Next Door. As part of the deal that closed Oct. 1, NerdWallet is paying $1 million in cash for the outstanding equity interests of Next Door.

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Lending Mortgage Brokerage Loan Officers 403

Sacramento Appraisal Blog

OCTOBER 31, 2024

Prices have been pretty flat. That’s a really good way to describe the housing market lately in many areas across the country. Let’s talk about that today as well as dig into insurance. I have some encouragement to share too about mindset. UPCOMING SPEAKING GIGS: 11/7/2024 Think Like an Appraiser (3 hours) TBA 11/19/24 Downtown […] The post Flat prices & the insurance mess first appeared on Sacramento Appraisal Blog.

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Insurance Housing Market Appraisal Marketing 324

Advertiser: Trellis

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.

Real Estate

Housing Wire

OCTOBER 31, 2024

The real estate industry is racing to find ways that artificial intelligence (AI) can improve business practices. ClearValue Consulting thinks it’s found a way. The firm has partnered with Restb.ai to bring computer vision to its valuation review platform called Certainty. The companies hope Restb.ai’s technology can help ClearValue’s appraisal review clients improve efficiency and quality control while also reducing costs.

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Appraisal Process Appraisal Valuation Review Valuation 370

Real Estate News

OCTOBER 31, 2024

September’s low rates gave pending sales a boost, but as mortgage rates climb for a fifth straight week, enthusiasm is expected to wane.

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Mortgage 231

Housing Wire

OCTOBER 31, 2024

Reverse mortgage industry leader Finance of America (FOA) announced updates on Thursday to the interest rate for HomeSafe Second, its proprietary second-lien reverse mortgage product. It will also be available in four new states, bringing the total to 10 with more planned for 2025. The new states are Arizona, Nevada, Oregon and Utah. The interest rate on the loan has been lowered from 9.99% to 9.49%.

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Mortgage Loan Officers Lending Renovations 349

Real Estate News

OCTOBER 31, 2024

The major independent firm announced a pair of deals this week that support its strategy of steady growth across the eastern U.S.

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Housing Wire

OCTOBER 31, 2024

By at least one measurement, affordability is improving for prospective homebuyers, even as home prices continue to rise and mortgage credit availability remains relatively low. According to data released Thursday by the Mortgage Bankers Association (MBA), the median payment for purchase loan applicants declined by 0.8% from August to September. The median payment for these prospective borrowers dropped to $2,041 last month.

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Mortgage Buyers Finance 360

Appraisal Buzz

OCTOBER 31, 2024

Stern & Eisenberg President of Default Services Dave Lambropoulos Esq. Stern & Eisenberg have announced the election of Dave Lambropoulos Esq. to the position of President of Default Services. Prior to this appointment, Lambropoulos served as the Managing Attorney of New Jersey for 12 years at Stern & Eisenberg. Throughout his tenure, his team consistently delivered exceptional results, achieving top rankings in client default challenges.

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Landlords Tenants Real Estate Clients 221

Housing Wire

OCTOBER 31, 2024

Much to the relief of some of the nation’s largest brokerage firms, Judge Stephen R. Bough granted final approval on Thursday to eight settlements in the combined Gibson and Umpa commission lawsuits. Bough’s ruling comes on the one-year anniversary of the jury verdict in the Sitzer/Burnett commission lawsuit, in which a Missouri jury found the National Association of Realtors (NAR), HomeServices of America and Keller Williams liable for colluding to artificially inflate agent commissions.

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Brokerage Real Estate Realtors Realty 367

Real Estate News

OCTOBER 31, 2024

In the “spirit” of Halloween, a new survey finds that many people would settle for a haunted house over one with maintenance issues or political neighbors.

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Buyers 199

Housing Wire

OCTOBER 31, 2024

Real estate agent commissions have held steady since August, but there’s a divergence at different price points. That’s the conclusion of new data from Redfin , which shows that the average commission between August and October dropped by 1 basis point to 2.34%. The data is derived from sales by Redfin agents who have closed a transaction in October or are scheduled to by the end of the month.

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Appraisal Buzz

OCTOBER 31, 2024

Nora Guerra has joined Guild Mortgage as SVP of Community Lending Solutions, further solidifying the company’s dedication to fulfilling the promise of homeownership. Guerra has over 25 years of mortgage sector leadership experience, most recently as the senior manager of National Affordable Lending at Freddie Mac. “Nora Guerra has long been a champion in our industry, educating and leading initiatives to help make homeownership an achievable goal for everyone,” said Terry Schmidt, CEO of Guild M

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Lending Mortgage Appraisal 195

Housing Wire

OCTOBER 31, 2024

It has already been a busy week for Howard Hanna Real Estate Services (HHRES) and it is only Thursday. The family-owned brokerage firm announced the completion of two acquisitions on Wednesday. The financial terms of the deals are not being disclosed. While Ohio is already a stronghold for the Pennsylvania -based firm, Howard Hanna strengthened its position in the buckeye state through its recent acquisition of Dayton-based Big Hill Realty.

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Brokerage Realty Real Estate Agents 338

Real Estate News

OCTOBER 31, 2024

Defendants including Compass, Redfin and seven other large firms can now move on from litigation in the sell-side commissions cases.

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Brokerage 196

Housing Wire

OCTOBER 31, 2024

In an ever-changing real estate market, loan originator retention is a key challenge for lenders. Loan officers need faster product rollouts and fewer barriers to focus on core tasks. Leading capital markets platform Optimal Blue helps retain talent with pricing engines and features like generative AI and virtual originator assistants. In a exclusive executive conversation, HousingWire president Diego Sanchez sits down with Erin Wester, Optimal Blue’s vice president of product management, to exp

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Tools Loan Officers Technology Marketing 355

Appraisal Buzz

OCTOBER 31, 2024

AI-powered chatbots are coming to the mortgage servicing industry. But there is still a question as to how receptive borrowers will be to this new interactive technology. According to a recent report from J.D. Power, three-fourths of business leaders say they are planning to escalate their AI investments, as they see its potential to redefine customer service and many other business functions.

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Mortgage Lending Business Technology 195

Housing Wire

OCTOBER 31, 2024

Ginnie Mae acting president Sam Valverde has been operating in his current position at the government-owned company for much of 2024. He is overseeing the sizable government portfolio of mortgage-backed securities (MBS) while navigating the company’s stated need for more budgetary resources. But he has also stepped into his role following an effective working relationship with his predecessor and the last Senate-confirmed Ginnie Mae president, Alanna McCargo.

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Government Finance Mortgage Development 365

Appraisal Buzz

OCTOBER 31, 2024

Unison Mortgage Corp. , a Unison company, has launched its Equity Sharing Home Loan in Oregon, which enables homeowners to receive cash the same day at below-market rates. Unison also recently announced that global investment firm Carlyle has agreed to purchase up to $300 million of equity sharing home loans from Unison. The Unison Equity Sharing Home Loan combines the benefits of home loans and home equity sharing agreements into a unique mortgage solution that allows homeowners to convert p

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Mortgage Renovations Design Investing 195

Housing Wire

OCTOBER 31, 2024

The Federal Housing Finance Agency (FHFA) on Thursday said it will aim to simplify the process of funding affordable housing projects through the Federal Home Loan Banks (FHLBanks). The advisory bulletin came in response to comments by sponsors that have called the process too cumbersome. “Each of the 11 FHLBanks operates an Affordable Housing Program (AHP) providing grants or subsidized advances to fund rental housing and homeownership opportunities for low- and moderate-income households,” the

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Finance Development Government Lending 274

Appraisal Buzz

OCTOBER 31, 2024

It’s Halloween, and while there will be numerous little zombies wandering neighborhood streets this evening, it’s unlikely we will see much of another kind of walking dead: The elusive zombie foreclosure. That because the U.S. labor market and economy-at-large remain relatively strong. With most homeowners gainfully employed and a majority “rate locked” into their current mortgages, mortgage performance continues to be stellar.

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Real Estate Housing Market Mortgage Appraisal 195

Inman

OCTOBER 31, 2024

Judge Stephen Bough granted approval for settlements involving Compass, Douglas Elliman, @properties and other companies. Collectively, the companies will pay $110 million to resolve the litigation.

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Brokerage 180

Appraisal Buzz

OCTOBER 31, 2024

Xactus Chief Marketing Officer Sasha Stair Fintech and verification solutions provider Xactus has announced the appointment of Sasha Stair as the company’s new Chief Marketing Officer. “This is a pivotal moment for our organization,” said Shelley Leonard, President of Xactus. “Having a Chief Marketing Officer who can seamlessly partner with our sales team and across all areas of the business is crucial for our growth.

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Marketing Modernization Technology Clients 221

Inman

OCTOBER 31, 2024

Commissions have been slowly declining over the last decade, but since the NAR settlement terms went into effect this summer, buyer's agent commissions have seen little impact.

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Buyers Agents 177

Eyes on Housing

OCTOBER 31, 2024

Personal income increased by 0.3% in September, following a 0.2% up in August and a 0.3% increase in July, according to the most recent data release from the Bureau of Economic Analysis. The gains in personal income were largely driven by increases in wages, salaries, and personal current transfer receipts. However, the pace of personal.

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Finance 88

Inman

OCTOBER 31, 2024

Only 32.1 percent of renter households currently pay less than $1,000 in monthly rent — a sharp decline from 35.2 percent in 2022 and 50.4 percent in 2012, according to an analysis from Redfin released Wednesday.

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Marketing 152