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Fannie Mae on Thursday announced that its Desktop Underwriter (DU) system will include new changes to the maximum allowable loan-to-value (LTV) ratios for two- to four-unit, principal residence, purchase and limited cash-out transactions, as well as other updates to further align the system with recent changes to the Selling Guide. The new DU update will be rolled out to the system during the weekend of Nov. 18, the company said.
Mortgage rates kept climbing this week as spreads on the 10-year Treasury yield widened, reaching a 16-year high. Freddie Mac ‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.49% as of Oct. 5th, up 18 basis point from last week ’s 7.31%. By contrast, the 30-year fixed-rate mortgage was at 6.66% a year ago at this time.
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 real estate market in China, both commercial and residential, have been unwinding over the last few years. Like a slow-motion train wreck at first, it is now definitively off the rails and heading over a cliff. Following a pattern eerily similar to the U.S. in 2008 and 2009. Lax lending standards and cheap credit, plus a popular belief that real estate values never decline, created a massive bubble.
NAHB analysis of the 2022 American Community Survey data shows that New Jersey leads the nation with the highest average annual real estate tax (RET) bill ($9,285)—$8,425 more than yearly property taxes paid by Alabama’s homeowners ($860). The size of this disparity grew 1.1% in 2022 and has increased 9.3% since 2017. Vermont was the only state for which the.
NAHB analysis of the 2022 American Community Survey data shows that New Jersey leads the nation with the highest average annual real estate tax (RET) bill ($9,285)—$8,425 more than yearly property taxes paid by Alabama’s homeowners ($860). The size of this disparity grew 1.1% in 2022 and has increased 9.3% since 2017. Vermont was the only state for which the.
As Compass looks to strengthen its presence in Northern California , it is welcoming back a familiar face. The Robert Reffkin -helmed firm is welcoming back Bob Gerlach, who retired from the brokerage in 2021, according to an announcement on Wednesday. Gerlach is joining Compass as a sales manager supporting brokerage professionals in the Palo Alto market as part of the firm’s management team. “We’re seeing a lot of real estate professionals return to Compass after a short stint away
After four years with Side Real Estate, OWN Real Estate founder Wilson Leung has brought his team back to Keller Williams. OWN's 19 agents closed 80 transactions worth $107.1 million in 2022.
Industry-leading lender Movement Mortgage will become an “early adopter” of FICO Score 10 T, the updated credit scoring model designed to take advantage of trended data information to help expand mortgage approval rates. Movement will employ FICO 10 T “to analyze their non-conforming loans, in conjunction with the classic FICO Scores,” the company said in a joint announcement with FICO.
Palmquist joined eXp's Michael Valdes on stage to talk recruitment at ICLV over the summer. Now, he's taking his 30-member team to eXp as the brokerage's new director of growth for California.
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.
As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. Between the summer of 2019 to date, there have been at least 26 securitization deals backed by home equity products valued in total at some $6.1 billion, according to a review of bond-rating and industry reports.
Dana Cadena takes a deep dive into the latest industry trends and best practices and shares advice on how to rise above the noise and create opportunities in today's market.
HousingWire Editor in Chief Sarah Wheeler sat down with Adam Carmel , founder and CEO at Polly , to talk about the ways technology should be delivering ROI for lenders. Sarah Wheeler: The cost to originate a mortgage is higher than ever, while companies have invested more in technology than ever before. What is the disconnect there? Adam Carmel: Since the great financial crisis there are certain things that lenders and banks have to spend money on today that have created more costs to their busi
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.
The Asian Real Estate Association of America (AREAA) shared its annual “A-List” on Monday. Shirley Gary, Tracy Allen, Realty Group , and the Advanced Super Team ranked highest in AREAA’s real estate sales list, while Shashank Shekhar and Joanna Yu topped the loan originators rankings. When added-up together, the A-List honorees generated more than $15.4 billion in sales volume from 20,472 transaction sides in 2022.
AI and data-led fintech company Pagaya Technologies named Sanjiv Das as president. Das, a former CEO of Caliber Home Loans , will begin his new role on Oct. 16. His responsibilities include overseeing the strategy and growth of Pagaya’s commercial business – including its single-family rental business and its subsidiary Darwin Homes – as it continues to enhance its tech-enabled product offering and expand its new and existing lending partnerships, the firm said in a news release.
It's not just how your marketing looks, it's how it performs. According to broker-owner Eric Bramlett, in performance marketing, results reign supreme.
The No. 1 brokerage in the country by transaction side count is getting bigger. Troy Palmquist is bringing his team of nearly 30-agents at DOORA Properties over to eXp Realty from white-label firm Side. “Joining a new brokerage company can be both an exhilarating and nerve-wracking experience, but, it’s precisely this sense of venturing into the unknown that I’m excited about.
Families with children under 24 years old living at home recorded 35% of all predicted listings through July, according to The nSkope Predictive Analytics Report. The report reviewed nSkope’s January-April 2023 listings predictions and found 301,314 properties already converted to actual listings through the end of July. The nSkope Predictive Analytics Report reviewed 360 MSAs in the U.S.
While you want to do what’s best for your team, sometimes helping can hurt. New Inman contributor Beverly Jacobo offers insights for assisting agents without rewarding bad behavior.
Sue Yannaccone and Sherry Chris are teaming up to launch Balance Blueprint , a new campaign from What Moves Her. Founded in 2020 by Yannaccone, who is the president and CEO of Anywhere Brands and Anywhere Advisors, What Moves Her is an advocacy organization with the goal of helping women in real estate develop their leadership skills and achieve their professional development goals.
The share of homes with patios edged up to another record high last year. Of the roughly one million single-family homes started in 2022, 63.3% percent came with patios—up from 63.0% in 2021, and the seventh consecutive year of setting a new record. The source for these numbers is NAHB tabulation of data from the Survey of Construction (conducted by.
The implementation of more careful loan screening procedures has contributed to lower levels of risk for mortgage fraud. Mortgage application fraud declined 3.1% year-over-year in Q2 of 2023 compared to the second quarter of 2022, according to CoreLogic Mortgage Fraud Report. However, they increased slightly(+1.6%), from Q1 to Q2 2023. Overall, in the second quarter of 2023, 0.75% of all mortgage applications were estimated to contain fraud, it equates to about 1 in 134 applications.
With more Canadians facing late-life divorce, there is a need for innovative financial solutions to help with the financial intricacies of this complex and emotional process
What is a Date of Death Appraisal? A date of death appraisal, also known as a “valuation as of the date of death” is a type of real estate or personal property appraisal that determines the fair market value of assets as of the date a person passed away. This type of appraisal is typically required during the settlement of an estate, especially when there are assets that will be inherited by heirs or beneficiaries.
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