Housing Wire

AUGUST 22, 2024

In a lawsuit filed Thursday, real estate startup Homie Technologies claims that home seller consumers were not the only ones harmed by the real estate industry’s allegedly anticompetitive practices. Defendants in the lawsuit, which was filed in U.S. District Court for the Central District of Utah, include the usual cast of antitrust lawsuit characters: the National Association of Realtors (NAR), Anywhere Real Estate , Keller Williams Realty , HomeServices of America , and RE/MAX.

Realtors 482

Realtors Buyers Brokerage Real Estate 482

Appraisal Buzz

AUGUST 22, 2024

In the second quarter of 2024, the Mortgage Bankers Association (MBA) reported a 3% increase in commercial and multifamily borrowing compared to the previous quarter. This growth highlights a sustained demand for multifamily loans and certain commercial properties, even as the market grapples with higher interest rates. The MBA credits favorable economic conditions and a strong market for bolstering demand in these segments.

Investing 435

Investing Retail Construction Tools 435

Housing Wire

AUGUST 22, 2024

How did existing home sales grow with all the recent negative press about demand? We were told lower mortgage rates wouldn’t affect demand positively. However, if you track the forward-looking indicators, it can explain this bounce in demand. First, we have to put context into the bounce: we are working from the lowest levels ever in home sales, so any small, minor move in purchase application data can bounce sales from here.

Inventory 462

Inventory Housing Market Marketing Investors 462

Appraisal Buzz

AUGUST 22, 2024

The Federal Housing Finance Agency (FHFA) has announced that Fannie Mae and Freddie Mac (the GSEs) are issuing updates to the Private Mortgage Insurer Eligibility Requirements (PMIERs) –the financial and operational standards that private mortgage insurance companies must meet to provide insurance on mortgage loans acquired by the GSEs. “Financially sound private mortgage insurance companies play a critical role in a healthy residential mortgage market that helps borrowers, including first-time

Insurance 368

Insurance Finance Mortgage Real Estate 368

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 With construction projects becoming more complex, outdated processes are no longer sustainable.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

AUGUST 22, 2024

The largest brokerage in the country by sales volume is working to further solidify its presence in middle Tennessee. On Wednesday, Compass announced that real estate industry veteran Grant Hammond, the owner and president of Metropolitan Brokers , is joining the firm. At Compass, Hammond will partner with Brandon Knox and Darin Cunningham to form BDG Partners , a full-service team that will be based in the Nashville metro area.

Agents 445

Agents Real Estate Brokerage Clients 445

Housing Wire

AUGUST 22, 2024

Seattle -based real estate brokerage Redfin imposed a new round of layoffs on Thursday, a development first reported by GeekWire. A Redfin spokesperson confirmed to the outlet that fewer than 100 employees were affected. The cuts involved the company’s Concierge service — which assists homeowners in improve their home’s appeal before it gets listed — as well as support staff and sales managers.

Brokerage 424

Brokerage Agents Real Estate Insurance 424

Appraisal Buzz

AUGUST 22, 2024

Existing-home sales improved in July, breaking a streak of four consecutive monthly declines, according to the National Association of REALTORS®. Three out of four major U.S. regions registered sales increases while the Midwest remained steady. Year-over-year, sales rose in the Northeast and West but retreated in the Midwest and South. Total existing-home sales —completed transactions that include single-family homes, townhomes, condominiums and co-op— ascended 1.3% from June to a seasonally ad

Realtors 305

Realtors Buyers Inventory Insurance 305

Housing Wire

AUGUST 22, 2024

Is the sky really falling? If you’ve been listening to the usual industry grifters—masquerading as experts—you might think so. But what happens when click-bait theories meet main street practice? Indiana’s early adoption of the NAR settlement changes on July 1st offers a unique opportunity to separate fact from fiction. As industry leaders, we’ve heard dire predictions and seen elaborate solutions.

Real Estate 422

Real Estate Realtors Contracts Agents 422

Real Estate News

AUGUST 22, 2024

Homie says the defendants — NAR, 4 top brokerages and a Utah MLS — conspired to control competition in the industry and steered buyers away from its listings.

Brokerage 297

Brokerage Buyers 297

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

AUGUST 22, 2024

The Federal Housing Finance Agency (FHFA) on Wednesday updated its capital requirements for private mortgage insurers and allowed rules established during the COVID-19 pandemic to sunset. Companies will have two years to fully implement the changes. The U.S. Mortgage Insurers (USMI) commended the updates to the Private Mortgage Insurer Eligibility Requirements (PMIERs), the financial and operational standards for companies that insure loans acquired by Fannie Mae and Freddie Mac.

Insurance 397

Insurance Mortgage Finance Construction 397

Real Estate News

AUGUST 22, 2024

Top execs discussed how the company is addressing industry practice changes, including its intention to display compensation on its listings.

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Housing Wire

AUGUST 22, 2024

Credit education advocate Sue Buswell , known widely in the mortgage industry for her “Sue Knows the Score” initiative, died unexpectedly this week. Buswell, a business development executive for Gridavate , was 58. Friends and former colleagues all described her as a warm, caring and generous person who genuinely loved helping educate people about credit, which she did for nearly four decades.

Mortgage 384

Mortgage Loan Officers Development Investing 384

Real Estate News

AUGUST 22, 2024

The Fed is expected to cut interest rates next month, but it could take a big drop to spur a rebound in sales — though things are starting to look up.

Buyers 239

Buyers Mortgage 239

Housing Wire

AUGUST 22, 2024

Rocket Pro TPO , the wholesale arm of Rocket Mortgage , launched the Certified Community Lender (CCL) certification program to equip brokers to serve historically underserved communities. Rocket Pro TPO will cover the cost for brokers to earn their CCL certification through National Association of Minority Mortgage Bankers of America (NAMMBA), the company said Thursday.

Training 382

Training Mortgage Marketing 382

Real Estate News

AUGUST 22, 2024

The company said fewer than 100 roles were affected, and it "needs less support and managerial staff" as more agents transition to Redfin Next.

Agents 225

Agents 225

Housing Wire

AUGUST 22, 2024

loanDepot added a first-lien home equity line of credit (HELOC) to its product suite that will enable homeowners without a mortgage to borrow from their home equity. The first-lien HELOC program will allow borrowers to access the equity in their homes with flexible terms that include a three-year draw period, an interest-only payment period of 10 years and a 20-year amortizing repayment term in most states, the company said in a statement on Wednesday.

Property Taxes 376

Property Taxes Insurance Mortgage Lending 376

Appraisal Buzz

AUGUST 22, 2024

The Federal Housing Finance Agency (FHFA) has issued a proposed rule that would establish the housing goals for 2025-2027 that Fannie Mae and Freddie Mac (the GSEs) would be required to meet on an annual basis. FHFA is requesting comments on all aspects of the proposed rule during the 60-day public comment period. The housing goals ensure that the GSEs, through their mortgage purchases, responsibly promote equitable access to affordable housing that reaches low- and moderate-income families, min

Finance 221

Finance Mortgage Housing Market Marketing 221

Housing Wire

AUGUST 22, 2024

White-label brokerage Side is joining several other real estate firms in launching educational resources that are available to agents across the industry. On Thursday, the firm announced the launch of PartnerUp Coaching, a platform that allows agents to learn from other top agents in the industry. The next round of courses begins on Sept. 9, 2024. While PartnerUp Coaching is now open to agents regardless of their brokerage affiliation, a pilot version of these coaching services was previously av

Real Estate 371

Real Estate Real Estate Agent Agents Brokerage 371

Appraisal Buzz

AUGUST 22, 2024

Fairway Independent Mortgage Chief Marketing and Business Development Officer Haley Parker Fairway Independent Mortgage Corporation has announced the promotion of two within its corporate executive ranks. Haley Parker has been elevated to the new position of Chief Marketing and Business Development Officer, where she will be responsible for driving Fairway’s brand and marketing strategy, ensuring alignment with business objectives and bolstering Fairway’s market presence.

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Human Resources Development Business Mortgage 221

Housing Wire

AUGUST 22, 2024

Real estate reporter Jeff Andrews sat down with Ocusell founder Hayden Rieveschl to talk about artificial intelligence and compliance software in a post-settlement environment. This interview has been edited for length and clarity. Jeff Andrews: Tell me a bit about Ocusell and its platform. If I’m a listing agent using Ocusell, I’m able to post listings to multiple MLSs that are compliant within the same interface.

Real Estate 366

Real Estate Agents Technology Tools 366

Inman

AUGUST 22, 2024

The suit accuses NAR and major franchisors of breaking antitrust laws. The company's complaint includes alleged text messages in which agents refused to show Homie listings.

Law 198

Law Agents Realtors Brokerage 198

Housing Wire

AUGUST 22, 2024

Artificial intelligence is inching into the real estate space, and CoreLogic has a new tool to help home shoppers find exactly what they want. The OneHome AI Image Search tool lets clients upload photos of any parts of a house and then matches preferences to a listing with similar images. The option is part of OneHome, CoreLogic’s client-facing portal that is designed to help agents better collaborate with prospective buyers.

Tools 353

Tools Clients Real Estate Valuation 353

Appraisal Buzz

AUGUST 22, 2024

Mortgage hedge advisory firm Vice Capital Markets has completed its integration with Mortgage Machine , an out-of-the-box, all-in-one loan origination system (LOS) designed to accelerate lenders’ operational velocity and support an end-to-end digital origination process. “We are pleased to announce our integration with Mortgage Machine,” says Troy Baars, president of Vice Capital Markets, in a release.

Marketing 195

Marketing Mortgage Loan Officers Clients 195

Housing Wire

AUGUST 22, 2024

In this executive conversation, we talk to Mickey Neuberger, who lays out Realtor.com’s vision for the coming months and years, prioritizing customer experience, technological innovation, and market adaptation. Neuberger’s insights give us a “peek behind the curtain” into Realtor.com’s strategy to lead in today’s market while continuing to grow and innovate.

Real Estate 351

Real Estate Agents Buyers Tools 351

Appraisal Buzz

AUGUST 22, 2024

Steve Schulz has joined Informative Research as the new executive vice president of product management. Schulz has more than 20 years of experience in information services, sales, product management and marketing, with a proven product innovation and strategic planning history. In his most recent role, he served as vice president of enterprise accounts at a global data and analytics company, leading a team that delivered significant revenue growth and achieved high client retention.

Design 195

Design Clients Development Business 195

Housing Wire

AUGUST 22, 2024

HomeServices of America and Douglas Elliman have teamed up in an attempt to get the Lutz homebuyer commission lawsuit dismissed. The two brokerage defendants in the suit filed a motion to dismiss on Monday. Filed in Florida in late April, the Lutz suit accuses HomeServices and its subsidiaries, BHH Affiliates and HSF Affiliates , of conspiring to artificially inflate real estate agent commissions.

Law 345

Law Real Estate Agent Brokerage Real Estate 345

Appraisal Buzz

AUGUST 22, 2024

After decreasing for four consecutive months, existing-home sales finally turned the corner and grew 1.3% in July compared with June to a seasonally adjusted annual rate of 3.95 million, according to the National Association of Realtors (NAR). However, existing-sales slipped 2.5% from one year ago. “Despite the modest gain, home sales are still sluggish,” says Lawrence Yun, chief economist for NAR, in a statement.

Inventory 195

Inventory Buyers Realtors Investors 195

Housing Wire

AUGUST 22, 2024

I have known Steve for over 40 years and respect him as a leader of a consumer organization that represents consumers on policy issues that impact their financial stability. We worked together during my days on the House Banking Committee, working to improve dealing with the federal flood insurance program. We also had several conversations on this issue when I was Vice President for Federal Policy and Industry Relations at the National Association of Realtors.

Real Estate 285

Real Estate Sellers Legal Buyers 285

Appraisal Buzz

AUGUST 22, 2024

Mortgage rates edged down this week, with the average rate for a 30-year fixed-rate mortgage hovering around 6.46%, according to Freddie Mac’s Primary Mortgage Market Survey. Last week the average was around 6.49%. A year ago at this time, the average rate for a 30-year was 7.23%. “Although mortgage rates have stayed relatively flat over the past couple of weeks, softer incoming economic data suggest rates will gently slope downward through the end of the year,” says Sam Khater, chief economist

Mortgage 195

Mortgage Buyers Appraisal Marketing 195

Inman

AUGUST 22, 2024

Doug Millier and Wendy Gilch of Consumer Advocates in American Real Estate revealed to Inman on Tuesday the origins of the Moehrl case while sending a warning that the industry will be "under a microscope.

Sellers 189

Sellers Buyers Real Estate Brokerage 189

Eyes on Housing

AUGUST 22, 2024

The labor market may not be as strong as previously estimated, according to the Bureau of Labor Statistics’ preliminary estimate of the upcoming annual benchmark revision to the establishment survey employment series. Each year, the Current Employment Statistics (CES) survey employment estimates are benchmarked to full population counts of employment for the month of March.

Construction 150

Construction Marketing 150

Inman

AUGUST 22, 2024

Seattle-based brokerage and portal Redfin laid off almost 100 Redfin Concierge support and sales managers on Thursday. The company said agents will now take the lead on Concierge services.

Brokerage 186

Brokerage Agents Technology 186