Housing Wire
AUGUST 9, 2024
As the portal wars have heated up, Realtor.com’ s revenue has cooled off. During the fiscal year fourth quarter Move, Inc., the parent company of Realtor.com , recorded a 2% annual decrease in revenue to $143 million, according to an announcement on Thursday. NewsCorp , the parent company of Move, attributed the decline to higher mortgage rates and macroeconomic headwinds.
Appraisal Buzz
AUGUST 9, 2024
A new report on the mortgage from Corporate Insight (CI) examines the loan origination experience from the perspective of actual borrowers, identifying new best practices, competitive gaps, and ways lenders can better serve consumers. The “ Lending Monitor: Mortgage Origination Study ” examines the loan origination experience using a consumer survey, in-depth interviews with active home buyers, and an examination of firm communications to identify the factors that influence lender selection and
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Housing Wire
AUGUST 9, 2024
The reverse mortgage industry’s key performance indicators were split in July, according to data from industry analysts. Home Equity Conversion Mortgage (HECM) endorsements increased by 8% from June to July, with the total of 2,274 falling reasonably in line with Federal Housing Administration (FHA) HECM case numbers. This is according to data compiled by Reverse Market Insight (RMI).
Appraisal Buzz
AUGUST 9, 2024
For the third consecutive year, the U.S. is expected to set new records for apartment construction. By the end of 2024, developers plan to have completed an astounding 518,108 rental units, a startling 30% more than in 2022 and 9% more than in 2023. This is according to a new study from RentCaf e. Furthermore, 2024 will mark the first time in the history of apartment building in the U.S. that the total number of completed units will exceed the 500,000-unit mark.
Housing Wire
AUGUST 9, 2024
“Gray divorce” — referring to the decision of a married couple over the age of 50 to separate — is a growing phenomenon. According to a 2022 study published in the Journals of Gerontology, the rate of divorce among those ages 50 and older has doubled since 1990 and has tripled for those 65 or older. Gray divorce can come with a myriad of financial headaches for those determining what post-married life will look like and how previously intertwined financial situations can be separated.
Appraisal Buzz
AUGUST 9, 2024
According to a recent study from Redfin , the technology-powered real estate brokerage, mortgage rates fell to a daily average of 6.34% on August 5, the lowest level since April 2023. After a worse-than-expected jobs report heightened worries of a recession, rates plunged; although they have since somewhat increased, they are still close to the lowest point in more than a year.
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Appraisal Buzz
AUGUST 9, 2024
Home prices in Opportunity Zones across the United States continued to climb in the second quarter of 2024, with median values rising in more than half of the areas targeted for economic redevelopment, according to a new report from ATTOM Data, a real estate data firm. The analysis, which looked at 3,904 Opportunity Zones with sufficient data, revealed that median home prices increased from the first to the second quarter in 61% of these zones, with annual gains recorded in 62%.
Housing Wire
AUGUST 9, 2024
In a recent episode of the Real Estate Insiders Unfiltered Podcast, the hosts dive into commission sharing practices for agents, the associated risks and the alternatives ahead of the National Association of Realtors ‘ (NAR) business practice changes that are set to take effect on Aug 17. Co-hosts James Dwiggins and Keith Robinson urge agents to stop sharing commissions and discuss ways that listing agents can put their seller’s needs first while avoiding legal trouble and creating an exc
Real Estate News
AUGUST 9, 2024
Agent count has also continued to decline, and CEO Erik Carlson said they are looking at all aspects of their business in preparation for an industry rebound.
Housing Wire
AUGUST 9, 2024
Editor in Chief Sarah Wheeler sat down with Melissa Langdale, president and chief operating officer of The Mortgage Collaborative , to talk about the recent FHFA TechSprint focused on gen AI use cases in housing. The use case developed by Langdale and her team was recognized as the most promising use case of gen AI for consumer experience. FHFA’s second annual tech sprint featured 12 teams that presented use cases in four areas: consumer experience, assessing creditworthiness, operations a
Real Estate News
AUGUST 9, 2024
"Powered by Offerpad" supports the iBuyer's agent partners; Peerage gets Rechat tools; Audience Town adds builder analytics; Rexdat offers listings platform.
Housing Wire
AUGUST 9, 2024
Mortgage tech firm Blend Labs delivered another loss in the second quarter of 2024 even as it signed deals with new customers across the mortgage and consumer banking channels. But executives expect a shift in the landscape due to declining interest rates , which may help them achieve profitability in the final three months of the year. “The bond market seems to be signaling that the Federal Reserve ’s target rate could end the year potentially more than 100 basis points lower than where we’ve b
Inman
AUGUST 9, 2024
Cloud banking software provider maintains steady growth in consumer banking revenue, while reversing the decline in its main line of business of providing services to mortgage lenders.
Housing Wire
AUGUST 9, 2024
A cooler spring homebuying season led to a mixed bag of financial results for the Big Four title insurance firms in the second quarter of 2024. Although all four firms reported a net income during the quarter, not all of them recorded better results than a year ago. Old Republic At Old Republic , total operating revenue was up 10% year over year to $2.012 billion, while net income was down annually from $115.5 million a year ago to $91.8 million in Q2 2024.
Appraisal Buzz
AUGUST 9, 2024
Financial technology provider TidalWave reports that its purposely built AI copilot engine SOLO is now integrated with Loan Product Advisor (LPA), Freddie Mac ‘s automated underwriting system (AUS). Through this integration, SOLO now has the capability to obtain a real-time LPA assessment, helping lenders to better guide their borrowers through the mortgage application process, starting from pre-approval, and to streamline their loan approval process.
Housing Wire
AUGUST 9, 2024
HomeServices of America is one step closer to moving on from the home seller commission lawsuits. On Thursday, Judge Stephen R. Bough — who is overseeing the Sitzer/Burnett and Gibson/Umpa commission cases — granted preliminary approval to the brokerage firm’s settlement agreement. “The Court finds that the proposed Settlement with HomeServices, as set forth in the Settlement Agreement, is fair, reasonable and adequate, the class representatives have adequately represented the class, the Settlem
Appraisal Buzz
AUGUST 9, 2024
Banking veteran Jarrod Glodt has joined commercial mortgage brokerage Eastern Union as a senior loan consultant. Glodt has more than ten years of experience as a banker engaged in commercial lending, ground-up construction, and investment real estate development. He has also managed transactions involving owner-occupied real estate – and has expertise in both SBA 7A and 504 lending, including both merger and acquisition deals.
Inman
AUGUST 9, 2024
The iBuyer declined to confirm how many employees have been let go. Recent SEC filings show widespread cuts compared to a year earlier.
Eyes on Housing
AUGUST 9, 2024
Total outstanding US consumer debt stood at $5.08 trillion for the first quarter of 2024, increasing at an annualized rate of 2.46% (seasonally adjusted), according to the Federal Reserve’s G.19 Consumer Credit Report. From the second quarter of 2023 to the second quarter of 2024, the total increased by 1.84%. This year-over-year (YoY) growth rate.
Inman
AUGUST 9, 2024
A surprise drop in mortgage rates got homebuyers off the sidelines and into home tours. However, affordability and recessionary concerns have kept buyers from making purchases.
Eyes on Housing
AUGUST 9, 2024
During the second quarter of 2024, credit for residential Land Acquisition, Development & Construction (AD&C) continued to tighten and became even more expensive for most types of loans, according to NAHB’s survey on AD&C Financing. The survey was conducted in July and asked specifically about financing conditions in the second quarter, predating the release of.
Inman
AUGUST 9, 2024
Housing affects every aspect of American life, Rachael Hite writes. This election, discover how each presidential candidate plans to reshape housing.
BiggerPockets
AUGUST 9, 2024
Electric vehicle sales are rising. Does it make sense to add an EV charging station at your property, and can you raise rent accordingly?
Inman
AUGUST 9, 2024
There is a good deal of feature overlap between the Lofty and Firepoint, with both providing the market website creation and content management, AI assistants and lead generation and oversight. However, Lofty ventures into transaction management, omnichannel lead-gen and as of recently, property management.
BiggerPockets
AUGUST 9, 2024
Where will the housing market be by 2025?
Inman
AUGUST 9, 2024
Austin, Texas-based fintech's flagship product, "The Trade-In Mortgage," helps homebuyers make non-contingent offers and removes their current house from debt-to-income calculation.
BiggerPockets
AUGUST 9, 2024
Learn to identify red flags in property management, take action when your provider fails, and choose a replacement to protect your rental investment.
Inman
AUGUST 9, 2024
HomeServices previously agreed to pay $250 million to settle various commission suits. A final approval hearing is set for November.
Mortgagebroker News
AUGUST 9, 2024
What does the slowdown mean for interest rates?
Inman
AUGUST 9, 2024
Consumer guides from the trade group offer a contrast to previous messaging but also continue to promote pre-emptive offers of compensation to buyer agents.
Mortgagebroker News
AUGUST 9, 2024
Variable rates have dipped of late – but fixed options are also likely to drop further
Inman
AUGUST 9, 2024
Looking for a quick catch-up on the buzziest stories of the week? Here’s Inman Top 5, the most essential stories, according to Inman readers.
Mortgagebroker News
AUGUST 9, 2024
Rising buyer interest and shrinking listings lead to double-digit price increases
Inman
AUGUST 9, 2024
The Engel & Völkers Americas president and CEO took time to chat with Inman and shared why agents should be concentrating on relationships — not confusion around commission lawsuits.
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