Housing Wire
SEPTEMBER 27, 2023
After experiencing a temporary hiccup between July 2022 to January 2023, the U.S. housing market is back on track , stronger than ever, with a total estimated value of $52 trillion, according to a new analysis by Orphe Divounguy, a senior economist at Zillow Group. Over the past year, the value of the U.S. housing market has surged by more than $2.6 trillion.
Sacramento Appraisal Blog
SEPTEMBER 27, 2023
Travis Kelce, Taylor Swift, and mortgage rates. So much drama this week. Let’s talk about it. Today I have some thoughts about believing the Fed, Chuck Norris, and building a bigger network. This post is all over the place, but hopefully something resonates. UPCOMING (PUBLIC) SPEAKING GIGS: 9/28/23 Yuba City Big Market Update (in Yuba […] The post Chuck Norris eats 8% rates for breakfast first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.
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Housing Wire
SEPTEMBER 27, 2023
Government-sponsored enterprise (GSE) Fannie Mae announced on Wednesday that it will launch new programs and resources designed to tackle the homeownership gap experienced by the Latino community , designed to “to provide responsible access to housing and long-term sustainable homeownership opportunities.” The company also announced an expansion of its Special Purpose Credit Program (SPCP) pilot to provide downpayment assistance to eligible first-time homebuyers living in majority-Latino communi
Real Estate News
SEPTEMBER 27, 2023
The acquisition of Realty Austin and Realty San Antonio will significantly boost Compass' annual sales volume in Texas.
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 With construction projects becoming more complex, outdated processes are no longer sustainable.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.
Housing Wire
SEPTEMBER 27, 2023
Maxwell , a Wells Fargo -backed mortgage fintech, announced Wednesday that it has struck a deal to acquire the digital lending platform Revvin ( formerly known as MortgageHippo ) to enhance its point-of-sale technology. The financial terms of the transaction have not been disclosed. That is Maxwell’s second acquisition since its inception in 2015. Maxwell acquired LenderSelect Mortgage Group from Blue Ridge Bank in May to expand its secondary market trading platform, bringing hundreds of new cli
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Housing Wire
SEPTEMBER 27, 2023
In the week following the Federal Open Market Committee ‘s meeting, mortgage applications sunk. For the week that ended Sept. 22, mortgage applications fell 1.3% from the prior week , according to data from the Mortgage Bankers Association. Based on the FOMC’s most recent projections, rates are expected to be higher for longer, which has driven Treasury yields to new heights.
Real Estate News
SEPTEMBER 27, 2023
The latest Redfin migration report found that more home shoppers are looking at lower-cost cities that have seen increasing climate-related dangers.
Housing Wire
SEPTEMBER 27, 2023
A record 26% of homebuyers are looking to move to a different part of the country, up from 24% a year ago and 19% before the pandemic began, a new Redfin report found. Redfin grounded this study on the searches of about two million Redfin.com users who viewed for-sale homes online across more than 100 metro areas from June 2023 to August 2023. Amid elevated mortgage rates and a lack of local housing inventory , homebuyers are searching for more affordable options, boosting relocations rather tha
Inman
SEPTEMBER 27, 2023
Between 2018 and 2020, Fannie and Freddie purchased close to 600 shared equity loans, before realizing that current regulations might prohibit them from doing so.
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.
Housing Wire
SEPTEMBER 27, 2023
Rhode Island-based chartered bank Washington Trust Company has agreed to pay $9 million to settle a redlining case with the U.S. Department of Justice (DOJ), the parties announced Wednesday. The agreement requires court approval. Washington Trust, known as the oldest U.S. community bank, was accused of illegally avoiding providing mortgage services to majority Black and Hispanic neighborhoods in Rhode Island.
George Dell
SEPTEMBER 27, 2023
We’ve seen the standard which requires an appraiser to use ‘correct’ methods (whatever those may be). And which also requires the appraiser to use ‘sufficient’ care (whatever that is). All part of the legacy USPAP Uniform Standards of Professional Appraisal Practice. Be correct and be careful! Editor’s Note: This is Standards, part 3.15 of George […] The post Correct Methods or Sufficient Care?
Housing Wire
SEPTEMBER 27, 2023
Homebuyers faced surging mortgage costs, fees and monthly payments in 2022 amid a tightening monetary policy designed to combat persistent inflation. And because their income didn’t keep up, lenders’ denials for a home loan jumped last year, according to a Consumer Financial Protection Bureau (CFPB) report released Wednesday. Unfortunately, there’s been no sign of relief in 2023. “The higher interest rate environment had profound effects on the mortgage market in 2022,
Inman
SEPTEMBER 27, 2023
NYC-based brokerage Compass has acquired Realty Austin and Realty San Antonio for an undisclosed amount. The brokerage closed $5.24B in 2022 sales volume.
Housing Wire
SEPTEMBER 27, 2023
Despite mass layoffs in the wake of the Federal Reserve’s fight against inflation, mortgage professionals still see opportunities in the market. The top three opportunities mortgage pros see are new construction (15.3%), first-time homebuyers (14.5%) and cultivating referrals and building new relationships with buyers, builders and agents (13%), according to HousingWire ‘s Q4 2023 LenderPulse survey.
Inman
SEPTEMBER 27, 2023
Research shows that people are concerned about the changing climate's impact on their hometowns, but they're more concerned about a lack of housing affordability, according to a new report from Redfin.
Housing Wire
SEPTEMBER 27, 2023
Years of rising prices and a prolonged period of increasing mortgage rates have made one issue top of mind for most homebuyers: affordability. That favors markets in the Northeast and Midwest, where prices are lower, and comes at the expense of markets in the West, where prices are higher, recently published data from Zillow suggest. Take the Zillow Home Value Index.
Inman
SEPTEMBER 27, 2023
Coupled with findings of an internal investigation made public this month, the memo addressed to Donna Gland reveals NAR was aware of a "hostile, toxic work environment" as early as March 2022.
Housing Wire
SEPTEMBER 27, 2023
Compass ’ Texas operation just got stronger. The Robert Reffkin -helmed firm has acquired Realty Austin and its San Antonio satellite Realty San Antonio , according to an announcement on Wednesday. The financial terms of the deal were not disclosed. “With this acquisition, we’ve positioned ourselves as Austin’s leading brokerage—our commitment to setting new standards and inspiring innovation for all our exceptional agents remains the top priority while honoring what Realty Austin an
Inman
SEPTEMBER 27, 2023
The LGBTQ+ Real Estate Alliance is partnering with the California Association of Realtors, AREAA and NAHREP to combat real estate discrimination against homebuyers from diverse communities.
Housing Wire
SEPTEMBER 27, 2023
FirstHome IQ , a new nonprofit founded by industry leaders Kristin Messerli , Dave Savage and Todd Bookspan , launched its Ambassador Program today to end the financial literacy crisis in the U.S. Through the program, mortgage and real estate professionals donate $100 per transaction and commit to educating the next generation. “The response to our soft invitation to this program has really been inspiring,” said Messerli, FirstHomeIQ’s executive director.
Inman
SEPTEMBER 27, 2023
Compass has recruited 15 agents from an Ocean City, New Jersey, RE/MAX franchise, 10 of whom will serve as principal agents. The new recruits represent $136 million in 2022 sales volume.
Housing Wire
SEPTEMBER 27, 2023
LoanLogics, a mortgage loan quality automation provider, announced the integration of two of its document processing tools with Finastra ‘s MortgagebotLOS solution on Wednesday. This integration aims to enhance lender capabilities and facilitate document processing and income calculation, the statement said. “These integrations demonstrate our commitment to providing mortgage lenders the tools they need to excel,” Mary Kay Theriault, director of product management for Mortgagebot at Finastra , s
Inman
SEPTEMBER 27, 2023
Real estate brokers who invest in tech stacks frequently find themselves selling their own agents on the technology's merits. Intel spoke to executives about the adoption tactics that work best.
Housing Wire
SEPTEMBER 27, 2023
As global tensions have escalated in recent years so, too, have concerns in the United States about the ownership of real estate by people from other countries — especially those from adversary nations. In response to these concerns, state legislators across the country have moved to pass legislation to prohibit or restrict foreign nationals from purchasing property.
Inman
SEPTEMBER 27, 2023
When shopping around for a brokerage, new agents may not know what to look for. Team leader Carl Medford breaks down the difference between going it alone and becoming part of a team.
Eyes on Housing
SEPTEMBER 27, 2023
Lot values for single-family detached spec homes continued to rise in 2022, with the national value and six out of nine Census divisions setting new nominal records, according to NAHB’s analysis of the Census Bureau’s Survey of Construction (SOC) data. The U.S. median lot value for single family detached for-sale homes started in 2022 stands at $56,000, with half of.
Inman
SEPTEMBER 27, 2023
The leader in artificial intelligence-driven financial document automation has combined three of its solutions into a mortgage dashboard for classifying, capturing and analyzing borrower documents.
BiggerPockets
SEPTEMBER 27, 2023
DSCR loans are increasingly popular—which means new products are coming in 2024. Here's what's coming next.
Inman
SEPTEMBER 27, 2023
The current market makes it tough to know how to create and communicate effective messaging. What's your plan for fall?
BiggerPockets
SEPTEMBER 27, 2023
Fannie Mae is now bearish on the economy, according to their latest report. Is there a new opportunity for investors to capitalize on? Read to find out.
Inman
SEPTEMBER 27, 2023
Fed's "higher for longer" rate strategy drives yields on long-term Treasurys higher, with mortgage rates following to highest levels in over 20 years, MBA survey shows.
BiggerPockets
SEPTEMBER 27, 2023
Investors can use a HELOC to draw from the equity in their property to obtain capital for another investment. Here's how it all works.
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