Housing Wire

NOVEMBER 7, 2024

Climate change is increasing the intensity and severity of natural disasters. It’s resulting in calls to reimagine the costs of homeowners insurance (Image generated by AI in Midjourney) As the planet warms and extreme weather intensifies, the rising cost of homeowners insurance is stopping real estate deals in their tracks. In just the past two months, two major hurricanes battered Florida, inflicting physical and financial damage that is projected to exceed $100 billion.

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Appraisal Buzz

NOVEMBER 7, 2024

The Fannie Mae (FNMA/OTCQB) Home Purchase Sentiment Index (HPSI) increased 0.7 points in October to 74.6, pushing the measure of consumer confidence to its highest level since February 2022 and significantly higher than the all-time low recorded two years ago. In October, the share of consumers who think it’s a good time to buy a home increased to 20%, while the share who think it’s a good time to sell a home declined to 64%.

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Housing Wire

NOVEMBER 7, 2024

In second-quarter 2024, high home prices and soaring mortgage rates caused more homeowners to struggle with their loan payments. But data shows a slight recovery as mortgage delinquencies fell in the third quarter. That silver lining comes from the Mortgage Bankers Association (MBA)’s National Delinquency Survey. According to the MBA, the seasonally adjusted rate for residential property (one- to four-unit) delinquencies dropped to 3.92% at the end of September.

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Mortgage Housing Market Marketing 370

Appraisal Buzz

NOVEMBER 7, 2024

Ginnie Mae, in All Participants Memorandum 24-12 , has announced that issuers who have a track record of managing their interest rate exposure through Mortgage Servicing Rights (MSRs) hedging and who meet prescribed eligibility requirements may qualify for Risk-Based Capital Ratio (RBCR) requirement relief. To determine if it will grant risk-based capital relief, Ginnie Mae will review information submitted quarterly on the issuer’s Mortgage Banking Financial Reporting Form and calculate an MSR

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Housing Wire

NOVEMBER 7, 2024

Government-sponsored enterprise Fannie Mae announced on Thursday the appointment of Scott D. Stowell, a homebuilding executive with nearly 40 years of industry experience, to its board of directors. “Mr. Stowell brings nearly 40 years of experience in the U.S. homebuilding industry to Fannie Mae’s accomplished and diverse board, which guides the company’s efforts to responsibly expand access to mortgage credit and finance quality, affordable rental housing ,” the company said in a statement.

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Real Estate News

NOVEMBER 7, 2024

The company says its innovative AI and financial products give it an edge as it increases revenue and agent count despite a difficult housing market.

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Appraisal Buzz

NOVEMBER 7, 2024

The latest Mortgage Bankers Association’s (MBA) National Delinquency Survey has found that the delinquency rate for mortgage loans on one- to four-unit residential properties decreased slightly to a seasonally adjusted rate of 3.92% of all loans outstanding at the end of Q3 2024, compared to one year ago. The MBA reports the nationwide delinquency rate was down five basis points from Q2 of 2024, but up 30 basis points from one year ago.

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Housing Wire

NOVEMBER 7, 2024

Guild Mortgage CEO Terry Schmidt said during a third-quarter earnings call on Wednesday that Guild’s reverse mortgage division continues to contribute to companywide strategies, and that additional interest in reverse has been observed. Guild’s current reverse lending division, built off its 2023 acquisition of Cherry Creek Mortgage , has expanded its reverse mortgage activities this year.

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Appraisal Buzz

NOVEMBER 7, 2024

Citing that inflation is now near its 2% target and that there is some weakness developing in the labor market, the Federal Open Market Committee (FOMC) today voted to cut the Fed Funds rate by 0.25% , to the range of 4.5% to 4.75%. “The FOMC cut rates by another 25 basis points at its November meeting, noting that risks to its inflation and employment goals are ‘roughly in balance,’” says Mike Fratantoni, senior vice president and chief economist for the Mortgage Bankers Association (MBA), in a

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Housing Wire

NOVEMBER 7, 2024

Home prices continue to rise, but they’re rising in slightly fewer areas of the country. Data released Thursday by the National Association of Realtors (NAR) shows that during the third quarter of 2024, home prices grew in 87% of the 226 metropolitan areas analyzed. That share is down from 89% in the second quarter. In addition, 7% of metro areas analyzed experienced double-digit home-price growth, which is down from 13% in Q2 2024.

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Appraisal Buzz

NOVEMBER 7, 2024

Single-family existing-home sales prices increased in 87% of measured metro areas in the third quarter, down from 89% in the prior quarter, according to the National Association of Realtors (NAR). The national median single-family existing-home price grew 3.1% from a year ago to $418,700. Fifteen markets (7%) experienced double-digit annual price appreciation – down from 13% in the previous quarter, according to NAR’s data.

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Housing Wire

NOVEMBER 7, 2024

Relocating to New York City can be an exciting yet daunting experience, especially for professionals moving for work. This article will guide you in choosing the right neighborhood and show how HR teams can better support their relocating staff. Choosing the right neighborhood 1. Understanding the boroughs New York City is divided into five boroughs, each with its unique charm and characteristics: Manhattan : Known for its bustling city life, iconic landmarks, and vibrant neighborhoods li

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Appraisal Buzz

NOVEMBER 7, 2024

Consumer confidence in the housing market increased in October, reaching its highest level since February 2022, according to Fannie Mae’s Home Purchase Sentiment Index. The share of consumers who think it’s a good time to buy a home increased to 20%, while the share who think it’s a good time to sell a home declined to 64%. The share of survey respondents who say home prices will go up in the next 12 months remained unchanged at 39%, while the percentage who say home prices will go down also sta

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Housing Wire

NOVEMBER 7, 2024

In a new episode of the “Real Estate Insiders Unfiltered Podcast,” hosts James Dwiggins and Keith Robinson are joined by Zillow Group CEO Jeremy Wacksman for a deep dive conversation that covers the role of technology in real estate and Zillow’s “ Super App.” This conversation has been edited for length and clarity. To kick off the episode, Wacksman discusses the importance of technology in real estate.

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Appraisal Buzz

NOVEMBER 7, 2024

Wolters Kluwer’s Compliance Solutions has released its latest Regulatory Violations Intelligence Index , tracking notable increases in regulatory violations within the U.S. financial services sector. Covering the first half of 2024, the Index reveals an uptick in violations for two key categories: Consumer Protection and Financial Offenses. At the same time, penalties fell sharply, highlighting volatility in enforcement and signaling a shifting regulatory landscape.

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Housing Wire

NOVEMBER 7, 2024

Ginnie Mae announced on Thursday that it will allow relief from its risk-based capital ratio (RBCR) requirements for any mortgage-backed securities (MBS) issuers that effectively hedge the value of their mortgage servicing rights (MSRs). One housing advocacy group said the move will create flexibility for independent mortgage banks (IMBs). A new memorandum reiterates that beginning on Dec. 31, 2024, “certain issuers and applicants will also be required to maintain a Risk Based Capital Ratio (RBC

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Real Estate News

NOVEMBER 7, 2024

Despite a 25-point cut by the central bank, rates rose for a sixth straight week while applications fell sharply.

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Mortgage 248

Housing Wire

NOVEMBER 7, 2024

When rates dropped in the third quarter of 2024, UWM Holdings Corp. , the parent of United Wholesale Mortgage , notched its biggest production quarter in three years while improving margins due to a higher refi volume. However, it also made a more modest profit, mainly because of the financial impact of lower rates on its servicing book. “The refi boom is not fully materialized, but we have seen a preview of it,” Mat Ishbia, chairman and CEO of UWM, told analysts during an earnings call on Thurs

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Real Estate News

NOVEMBER 7, 2024

The company suffered losses due to its payout in the commissions settlement, but touted agent productivity, international growth and positive revenue.

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Agents 189

Housing Wire

NOVEMBER 7, 2024

After delivering two straight quarterly losses to start this year, mortgage technology company Blend Labs predicted correctly that it would soon move into the black by one key accounting measure, finally delivering a non-GAAP operating profitability third-quarter 2024 earnings. The earnings report , released Wednesday, revealed that Blend’s GAAP loss from operations improved to $13.3 million in the third quarter of this year compared to $36.2 million in the same period last year.

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Mortgage Technology Business 221

Appraisal Buzz

NOVEMBER 7, 2024

Mortgage technology company Novaprime has made its public debut and launched its AI-powered Loan Quality Platform. The firm claims this new platform evaluates loan integrity, reduces processing times and enables lenders to sell loans on the secondary market in days, rather than weeks. The platform intelligently understands and assesses the context of all loan details, the new tech firm says in a release.

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Real Estate News

NOVEMBER 7, 2024

CEO Glenn Kelman apologized to shareholders but also said expansion of the company’s new agent pay plan will help the brokerage “go on the attack” in 2025.

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Brokerage Agents 165

Inman

NOVEMBER 7, 2024

The San Francisco-based iBuyer bought and sold more homes during Q3 than it did a year ago and trimmed its net loss by 14 percent from Q2 and 26 percent from a year ago.

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Real Estate News

NOVEMBER 7, 2024

The franchise went the same route as eXp, agreeing to settle with plaintiffs in the Hooper case even though it was originally named in Gibson.

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Inman

NOVEMBER 7, 2024

The Real Brokerage added more than 2,000 new agents in the third quarter while revenue rose to $372.5 million, according to quarterly earnings Thursday. The company posted a net loss of $2.5 million.

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Eyes on Housing

NOVEMBER 7, 2024

The Fed cut the short-term federal funds rate by an additional 25 basis points at the conclusion of its November meeting, reducing the top target rate to 4.75%. However, while the Fed noted it is making progress to its 2% inflation target, it did not provide post-election guidance on the pace and ultimate path for.

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Finance 158

Inman

NOVEMBER 7, 2024

Home affordability improved as mortgage rates dipped, bringing the monthly mortgage payment on a typical single-family home with a 20 percent down payment to $2,137 — a 5.5 percent decrease from Q2, though still up 2.4 percent year over year.

Mortgage 167

Mortgage Realtors Marketing 167

D Fritz Appraisals

NOVEMBER 7, 2024

Trends in Commercial Real Estate You Don’t Want to Miss Despite high interest rates, inflation, increasing building costs and rent hikes, the future of commercial real estate in British Columbia is looking brighter than ever. British Columbia continues to withstand and adjust to market challenges by embracing commercial real estate trends. Easily adapting to change is key to maintaining resilience in the fast-paced real estate sector.

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Real Estate Retail Tenants Investors 97

Inman

NOVEMBER 7, 2024

Revenue, closed transaction volume and net income fell in Q3, earnings data on Thursday shows. But a strong luxury push and October uptick in buyer activity have set the stage for a robust Q4.

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Eyes on Housing

NOVEMBER 7, 2024

Confidence in the market for new multifamily housing showed mixed results year-over-year in the third 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 40, an increase.

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Inman

NOVEMBER 7, 2024

Weichert has reached a settlement in a case known as Hooper, according to new court documents. EXp's settlement in that case sparked pushback from plaintiffs in a different lawsuit.

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Empire Appraisal Group

NOVEMBER 7, 2024

iLLiePhotography, Getty Images Source: [link] The Wealth Effect: Money Moves By Jennifer Warner Florida is enjoying a positive net inflow of new residents, especially those who are wealthy and high earners, from across the country and world. ORLANDO – Florida’s reputation as an affordable place to retire has long attracted people of all classes to the Sunshine State when their working days are done.

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Inman

NOVEMBER 7, 2024

Housing market sentiment rose in October to the highest level since February 2022, but 8 in 10 consumers still said it was a bad time to buy, Fannie Mae survey finds.

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Housing Market Marketing Mortgage 167

GoForrmz

NOVEMBER 7, 2024

Optimize retail operations this holiday season with efficient, digital audit solutions As the holiday season approaches, retailers are gearing up for the busiest time of the year. The need for efficient processes is at an all-time high, and one area that can significantly benefit from digital transformation is the retail audit. By switching to digital checklists, retailers can streamline their audit processes, improve accuracy, and free up time for essential tasks.

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