Housing Wire
OCTOBER 16, 2024
About a week after the Federal Reserve lowered benchmark interest rates for the first time since the start of the COVID-19 pandemic, mortgage rates reached their low point for 2024. The news has not been so positive since then for U.S. consumers or the housing industry. According to HousingWire’s Mortgage Rates Center, the average 30-year conforming rate bottomed out at 6.24% on Sept. 27.
Appraisal Buzz
OCTOBER 16, 2024
According to the Realtor.com September Rental Report, there remains a geographical gap in the rental market despite a national trend of overall rent declines. Despite a nationwide decline in rent, nine of the ten Midwestern markets included in the 50-metro survey experienced year-over-year increases in rent in September. On the other hand, eight out of ten of the markets that saw the largest rent cuts last month were in the South, primarily due to an increase in the number of new multi-family ho
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Housing Wire
OCTOBER 16, 2024
Researchers at the U.S. Department of Housing and Urban Development (HUD) have published a new report identifying the locations of people seeking Federal Housing Administration (FHA) rental and homeownership assistance programs. They found that homeownership program beneficiaries generally live in more affluent, racially homogenous neighborhoods than those seeking rental assistance.
Appraisal Buzz
OCTOBER 16, 2024
Mortgage application volume tanked 17.0% last week, as rates increased sharply, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Applications for refinances plummeted 26% compared with the previous week but were still up 111% compared with the same week one year ago. Applications for purchases decreased 7% compared with the previous week but were up 7% compared with the same week one year ago.
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 With construction projects becoming more complex, outdated processes are no longer sustainable.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
OCTOBER 16, 2024
In this session, experts will discuss mini-corr challenges and opportunities going into 2025, including whether the channel will continue to see market share growth and the latest on warehouse lender risks.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Housing Wire
OCTOBER 16, 2024
Mortgage applications decreased 17% from one week earlier as mortgage rates surged, according to data from the Mortgage Bankers Association ’s (MBA) weekly application survey for the week ending October 11, 2024. The Market Composite Index, a measure of mortgage loan application volume, decreased 17% on both a seasonally adjusted and an unadjusted basis from one week earlier.
Real Estate News
OCTOBER 16, 2024
A panel of industry veterans debated the policy and discussed various scenarios for residential real estate should the CCP be repealed.
Housing Wire
OCTOBER 16, 2024
Sam Valverde, the acting president of Ginnie Mae , has overseen the work the government-owned company is currently engaging in to better improve the liquidity situation for the companies involved in the Federal Housing Administration (FHA)’s Home Equity Conversion Mortgage (HECM) program. These include efforts to establish an additional HECM-backed Securities (HMBS) instrument to complement what is currently available.
Real Estate News
OCTOBER 16, 2024
A range of competing factors are driving volatility in rates, making it harder to forecast their direction — but they're likely to decline further this year.
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
OCTOBER 16, 2024
A new startup wants to help real estate agents get more out of their multiple listing service (MLS). Realoq has launched a MLS platform that features customized branding and direct access to consumers, and the company believes it will provide savings on lead generation. “This new solution is ideal for MLS organizations seeking a more affordable option,” Realoq CEO Anvesh Chakravartula said in a statement.
Appraisal Buzz
OCTOBER 16, 2024
Freddie Mac recently auctioned 57 deeply delinquent non-performing residential first lien loans (NPLs) with a balance of approximately $13.9 million from its mortgage-related investments portfolio. The loans were sold in two pools of 32 and 25 to Residential Credit Opportunities X, LLC. The sales are part of Freddie Mac’s Extended Timeline Pool Offerings (EXPO).
Housing Wire
OCTOBER 16, 2024
Reggora CEO Brian Zitin said his company is looking to help mortgage lenders by removing the need to manually underwrite most appraisals. Appraisal management software company Reggora is adding a repurchase and loan-level price adjustment (LLPA) warranty to its appraisal review solution. The valuation tech company said it will cover any financial loss associated with a repurchase or LLPA adjustment due to an appraisal defect.
Appraisal Buzz
OCTOBER 16, 2024
Kiavi , a private lender to residential real estate investors, has closed its second rated securitization of residential transition loans this year. This time, Kiavi closes a $400 million rated securitization of residential transition loans. It’s been a banner year for Kiavi thus far. Through the third quarter, the firm originated nearly 15,000 loans totaling $4.6 billion, a 44.5% increase over the same period last year.
Housing Wire
OCTOBER 16, 2024
In this week’s episode of the RealTrending podcast , host Tracey Velt sits down for an informative conversation with Paul Carlson, the president of Five Star Real Estate. Carlson explores his early career journey, including insights into how he grew the brokerage. He also explores key lessons he learned as he inherited the president’s seat from his father, Greg Carlson, Five Star Real Estate’s founder.
Appraisal Buzz
OCTOBER 16, 2024
Informative Research , which offers data-driven credit and verification solutions to the lending community, has announced that its AccountChek solution now supports new enhancements to Fannie Mae’s Desktop Underwriter (DU) validation service. The new enhancements are designed to streamline the digital pre-close verification of employment (VOE), significantly enhance overall efficiency and improve the borrower experience, the firm says in a release.
Housing Wire
OCTOBER 16, 2024
United Wholesale Mortgage (UWM) announced on Wednesday that it’s offering a conventional cash-out loan product with a loan-to-value (LTV) ratio of up to 90% and no mortgage insurance. The announcement comes after interest rates have dropped and competition for refinances has increased. According to Michigan-based UWM, borrowers are historically limited to 80% LTVs for cash-out refis and often require mortgage insurance for loans that exceed this limit.
Appraisal Buzz
OCTOBER 16, 2024
The post Halloween Costume appeared first on Appraisal Buzz.
Housing Wire
OCTOBER 16, 2024
VestaPlus is gaining more traction with its artificial intelligence -powered compliance system. The company announced that Firelands Association of Realtors in Ohio and Northwest Wisconsin MLS have signed up for CheckMate, the firm’s listing compliance violation detection software. In July, Staten Island MLS and San Diego MLS entered similar partnerships with VestaPlus, and the company now serves five MLSs in total.
Appraisal Buzz
OCTOBER 16, 2024
The U.S. Department of Housing & Urban Development (HUD) has awarded $6.5 million in Choice Neighborhoods Planning Grants for 13 communities in 11 states to redevelop severely distressed public or HUD-assisted housing and improve outcomes for residents. This year includes the first-ever award to a Tribal Nation, the Muscogee (Creek) Nation. Each neighborhood will receive a $500,000 grant to create a comprehensive “Transformation Plan” to modernize existing HUD housing, improve workforce, hea
Housing Wire
OCTOBER 16, 2024
Speakers: Dan Snyder , CEO & Co-Founder at Lower Brett Ludden, Managing Partner at Sterling Point Advisors Dan Hanson, Executive Director, Enterprise Partnerships & Acquisitions at loanDepot James Kleimann , Managing Editor at HousingWire
George Dell
OCTOBER 16, 2024
The new UAD and URAR come on together. In this second part, we prepare to look at possible unintended consequences. (Catch up and read part 1 here.) In later continuing parts, we will look at how the URAR/UAD format “dynamic” may affect users: appraisers, lenders, AMCs, and others. Finally, we might look at how the […] The post UAD URAR Threat, Opportunity, or Confusion?
Housing Wire
OCTOBER 16, 2024
The nightmare created by Keller Williams’ decision to make changes to its profit-sharing program appears to be coming to a close. On Friday, Keller Williams and plaintiffs Eric Mendoza and Jack LeVine filed a document with a U.S. district court in Nevada. On Oct. 2, the parties stated that they “finalized the terms of the settlement agreement for this and the other pending claims against Defendant in cases involving plaintiffs represented by the Humphrey, Farrington & McClain firm.
Inman
OCTOBER 16, 2024
Share the words of wisdom that have meant the most and had the biggest impact on you as you've built your real estate business.
Housing Wire
OCTOBER 16, 2024
Two artificial intelligence startups are teaming up to make searches through multiple listing services (MLSs) more accessible to the visually impaired. The combined technology of Restb.ai and Lundy will allow users to search listings through voice commands. Restb.ai leverages AI to produce computer vision for the real estate sector, while Lundy provides a voice-driven property search platform.
Inman
OCTOBER 16, 2024
Former Phoenix Realtors President Butch Leiber writes that industry policy must be grounded in promoting and protecting the best interests of clients.
Housing Wire
OCTOBER 16, 2024
Carol Dujanovich, senior vice president and director of reverse mortgages at University Bank , has been reappointed to a new three-year term as a member of the U.S. Department of Housing and Urban Development (HUD) Housing Counseling Federal Advisory Committee (HCFAC). The committee is designed to advise HUD “by helping shape the direction of its Housing Counseling Program and providing guidance on how to better serve prospective buyers, homeowners, and renters with their housing needs,” the dep
Inman
OCTOBER 16, 2024
Demand for purchase mortgages fell by a seasonally adjusted 7 percent last week, and requests to refinance were down 26 percent as mortgage rates continued to climb, MBA survey finds.
Housing Wire
OCTOBER 16, 2024
Understanding that real estate housing markets are hyperlocal, the RealTrends Verified City Rankings represent the newest evolution of RealTrends agent and team rankings. These rankings are designed to help top-performing agents and teams highlight their accomplishments within their specific local markets, enhancing their credibility where it matters most — close to home.
Inman
OCTOBER 16, 2024
Learn the essential steps that pave the way to success in this high-stakes market with insights from luxury consultant Chris Pollinger.
Eyes on Housing
OCTOBER 16, 2024
Over the first eight months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 685,923. On a year-over-year (YoY) basis, this is an increase of 11.5% over the August 2023 level of 615,453. Year-to-date ending in August, single-family permits were up in all four regions. The range of permit increases spanned.
Inman
OCTOBER 16, 2024
The DOJ's recent statement, made in relation to a lawsuit against pork producers, notes that the sharing of information among competitors could violate antitrust law "even without proof of an agreement to fix prices.
BiggerPockets
OCTOBER 16, 2024
Anyone who’s had anything to do with real estate has played the “will they or won’t they” guessing game surrounding the Federal Reserve’s decisions about the federal funds rate.
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