Housing Wire

MAY 2, 2024

The U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) this week announced a new policy enabling mortgage borrowers to “request a re-assessment of the appraised value of their property if they believe that the appraisal was inaccurate or biased.” An announcement on Thursday from HUD and a new Mortgagee Letter (ML) published Wednesday by the FHA clarifies that the policy applies to all Title II single-family programs, including the Home Equity Conv

Reconsideration of Value 467

Reconsideration of Value Appraisal Mortgage Valuation 467

Sacramento Appraisal Blog

MAY 2, 2024

Consumers are feeling economic pain, and we need to talk about some of the things that are brewing. Today, I want to look at growing debt, distressed sales, and unemployment. I have both national and local stats. Sounds like a happy post, right? Look, some people really hype this topic and use it to magnify […] The post Some red flags for the housing market first appeared on Sacramento Appraisal Blog.

Housing Market 390

Housing Market Marketing Appraisal 390

Housing Wire

MAY 2, 2024

Keller Williams was named to an additional class-action lawsuit that takes issue with alterations made to the brokerage’s profit-sharing program. On Thursday, James McFarlane filed a complaint aiming for class-action status in the U.S. District Court of Maine. McFarlane was associated with Keller Williams from 2004 to 2018. In the past several weeks, 13 agents formerly affiliated with Keller Williams — Jerri Moulder, David Bueker, Robert Hill, Kevin Ortiz, Edward Fordyce, Paul Davis, Penny Alper

Agents 459

Agents Brokerage Legal Real Estate 459

Real Estate News

MAY 2, 2024

Rates are likely to stay higher for longer, but as inventory builds, pent-up demand and more home choices could entice buyers — if they can afford it.

Buyers 264

Buyers Inventory Mortgage 264

Housing Wire

MAY 2, 2024

The housing market has been on a topsy-turvy roller-coaster ride in recent years that has been particularly neck wrenching since this past fall, fueled by stubbornly high inflation and a still-strong jobs market. In early November, 30-year fixed mortgage rates began a nosedive, declining from near 8% to below 7% in a matter of months before once again starting to rise at the start of 2024.

Marketing 459

Marketing Mortgage Investors Sellers 459

Real Estate News

MAY 2, 2024

Even as revenue fell sharply year-over-year, the iBuyer sees an opportunity to “shape the future of real estate” by giving consumers more options.

Real Estate 264

Real Estate 264

Real Estate News

MAY 2, 2024

Once new rules go into effect — between July and September — agents will need to embrace “the new regime” to avoid liability, and to ensure they get paid.

Agents 264

Agents Buyers 264

Housing Wire

MAY 2, 2024

Luxury brokerage Engel & Volkers Atlanta is expanding its footprint in the Georgia capital through the acquisition of AtHome & Co., the company announced on Wednesday. Led by real estate veterans Noelle Larson and Susi O’Connor, the AtHome team serves the Georgia counties of Cobb, Cherokee, Dawson, Forsyth and North Fulton with its nine agents.

Brokerage 450

Brokerage Real Estate Sellers Clients 450

Real Estate News

MAY 2, 2024

Following a series of leadership changes, the company is focusing on cutting expenses as it navigates the tough real estate market.

Agents 260

Agents Real Estate Marketing 260

Housing Wire

MAY 2, 2024

Top U.S. loan officer Timothy Potempa has departed Dallas-based multichannel lender OneTrust Home Loans to join E Mortgage Capital , bringing his team of about 40 people and more than $300 million in annual production to the company headquartered in California. “I’ve been in the industry since I was 18, so this year will be 22 years, and I’ve only been in five companies,” Potempa said in an interview. “The transition just became along the lines of the team’s a

Loan Officers 448

Loan Officers Mortgage Retail Lending 448

Appraisal Buzz

MAY 2, 2024

Profit margins on median-priced single-family home and condo sales in the U.S. decreased to 55.3% in the first quarter – the lowest level observed in more than two years, according to ATTOM’s recently released Q1 2024 U.S. Home Sales Report. That’s down from 57.1% in the fourth quarter of 2023 and from 56.5% a year ago, coincided with a quarterly 4.3% drop in the median nationwide home price, down to $330,000.

Sellers 221

Sellers Housing Market Investing Appraisal 221

Housing Wire

MAY 2, 2024

Redlands, California-based mortgage lender Mountain West Financial has struck a deal to sell its retail assets to competitor ML Mortgage Corp. , one of the latest M&A transactions amid a challenging landscape for home loan originators. “We did transfer our branches and loan officers to ML Mortgage. We felt that ML was a good culture fit and would provide the least amount of disruption to the origination team,” Mountain West CEO Michael Delehanty said in an email to HousingWire.

Retail 448

Retail Loan Officers Mortgage Lending 448

Appraisal Buzz

MAY 2, 2024

The average rate for a 30-year fixed-rate mortgage increased to 7.22% this week, up from 7.17% the previous week and up from 6.39% a year ago, according to Freddie Mac’s Primary Mortgage Market Survey. “The 30-year fixed-rate mortgage increased for the fifth consecutive week as we enter the heart of spring home buying season,” says Sam Khater, chief economist for Freddie Mac, in a statement.

Mortgage 195

Mortgage Business Appraisal Marketing 195

Housing Wire

MAY 2, 2024

The number one rule of the marketplace is to understand your customer. Knowing what they need, what they want and what they fear is fundamental for success. The housing market has shifted. Today it’s dominated by baby boomers who make up 39% of all homebuyers and 52% of all home sellers. Known as “Peak 65”, in 2024 more than 12,000 people per day will turn 65.

Realtors 448

Realtors Training Real Estate Design 448

Appraisal Buzz

MAY 2, 2024

Ron Ross has joined Mobility Market Intelligence (MMI), offering data intelligence and market insight tools for the mortgage and real estate industries, as chief financial officer. Most recently, Ross held the positions of president and chief operating officer at Everee Inc., a full-service payroll company that he founded. There, he built and led multiple teams, including payment operations, tax operations, customer success and support.

Tools 195

Tools Real Estate Finance Technology 195

Housing Wire

MAY 2, 2024

Real estate agents appear to be more open to changing brokerages in 2024 compared to last year, according to a recent Coldwell Banker survey. The report found that 61% of agents plan to stick with their current company this year, down from 75% of agents in 2023. Meanwhile, Coldwell Banker-affiliated agents showed no significant change in their likelihood to switch companies, with 69% prepared to stay put in 2024 compared to 70% in 2023.

Brokerage 448

Brokerage Agents Advertising Real Estate Agent 448

Appraisal Buzz

MAY 2, 2024

U.S. home prices increased 1.2% in February compared with January and were up 7% compared with February 2023, according to the Federal Housing Finance Agency’s (FHFA) seasonally adjusted monthly home price index. “U.S. house prices rebounded with an increase in February, after declining slightly in January” says Anju Vajja, deputy director for FHFA’s Division of Research and Statistics, in a release.

Finance 195

Finance Appraisal 195

Housing Wire

MAY 2, 2024

Things just keep getting better, according to real estate brokers surveyed for the Q2 2024 HousingWire BrokerPulse survey , with 54% who are “optimistic” about the next three months in residential brokerage, compared to some 48% of those surveyed for the Q1 2024 HousingWire BrokerPulse survey who felt the same. The same can’t be said about their optimism over interest rates, where 74% said they would be flat and 22% said they would go down in the next three months, compared to

Brokerage 447

Brokerage Training Real Estate Real Estate Agent 447

Appraisal Buzz

MAY 2, 2024

Danielle Walker has been promoted to senior vice president, business development, at Xactus. Previously she served as vice president, product development. She also previously served as sales and product manager for one of Xactus’ divisions, Appraisal Firewall. Walker has almost 20 years of mortgage industry experience helping lenders mitigate risk. She is currently a board member for the Spokane Association of Mortgage Professionals serving as secretary and website committee chair.

Development 195

Development Business Valuation Modernization 195

Housing Wire

MAY 2, 2024

Real estate brokerage William Raveis has returned to the acquisitions business. On Thursday, the family-owned firm announced that it had acquired South Carolina -based Carson Realty. The financial terms of the deal were not disclosed. The acquisition comes after William Raveis acquired three other firms last fall. Founded in 2006, Carson Realty serves clients in the South Carolina markets of Hilton Head, Bluffton and Lake Keowee.

Realty 433

Realty Insurance Brokerage Clients 433

Inman

MAY 2, 2024

Keeping Current Matters CEO David Childers and Jimmy Burgess discuss why a relevant market opinion based on facts, not fears, is key for educating consumers and navigating industry changes.

Marketing 187

Marketing Brokerage Agents 187

Housing Wire

MAY 2, 2024

Ocwen Financial Corp., parent company of PHH Mortgage Corp. and Liberty Reverse Mortgage , reported an overall improvement in its business performance for the first quarter of 2024 — including better reverse mortgage performance attributed to servicing and higher gains on loans held for sale. Under generally accepted accounting principles (GAAP), Ocwen reported GAAP net income of $30 million or diluted earnings per share of $3.74, which company CEO Glen Messina characterized as the “highest leve

Contracts 418

Contracts Mortgage Market Value Technology 418

Inman

MAY 2, 2024

The class action lawsuit filed by plaintiff James Lutz alleges that HomeServices and other members of the National Association of Realtors fixed commissions, which misled buyers and resulted in buyers paying inflated home prices.

Buyers 186

Buyers Realtors Real Estate Brokerage 186

Appraiserblogs

MAY 2, 2024

At a recent appraisal event, a GSE executive, after a few drinks, privately told his nearby colleagues that we suck as an industry. Last year, Phil Crawford and I reported on GSE efforts to send unsigned complaints to state boards at scale. Appraisers had no recourse but to defend themselves from the state boards without knowing who their accusers were.

Appraisal 120

Appraisal 120

Inman

MAY 2, 2024

Total revenue declined by 8.3 percent year over year to $78.3 million during the first quarter of 2024, which still bested analysts' expectations for revenue to fall by 9.5 percent.

Brokerage 179

Brokerage Marketing Mortgage 179

BiggerPockets

MAY 2, 2024

Want more cash flow with less stress while running your rental property portfolio? Then you need self-management!

Investors 91

Investors Real Estate 91

Inman

MAY 2, 2024

Learn more about this managing partner of The Agency Steamboat Springs who also leads a top-producing, award-winning real estate team.

Real Estate 178

Real Estate Brokerage 178

BiggerPockets

MAY 2, 2024

Want a low mortgage rate? We mean a really low rate—like 4.75% in 2024 low. What about half a million in profit on a sneaky development deal?

Development 91

Development Mortgage Real Estate 91

Inman

MAY 2, 2024

Imaging company Planitar released an update to its iGuide tour experience that encourages buyers to offer contact information and feedback.

Buyers 176

Buyers Technology 176

BiggerPockets

MAY 2, 2024

Cryptocurrency enthusiasts can’t fathom why Bitcoin will fail.

Investors 91

Investors Investing 91

Inman

MAY 2, 2024

Cultural economist Mike Green looks at the aftermath of NAR's 2020 apology and what it would take to create a more equitable and inclusive housing market.

Housing Market 174

Housing Market Marketing Brokerage Agents 174

Mortgagebroker News

MAY 2, 2024

Many buyers are facing rate shock as closing nears

Buyers 88

Buyers 88

Inman

MAY 2, 2024

Embrace the potential of auctions and understand how to navigate their benefits and risks effectively, new Inman contributor Chad Roffers writes. By doing so, you and your clients can tap into new opportunities and elevate your approach to listing properties.

Clients 170

Clients Brokerage Agents 170

Mortgagebroker News

MAY 2, 2024

Canadian homeowners' assets grew faster than payments despite rate hikes

Home Value 87

Home Value Mortgage 87