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In the game of housing crisis Rochambeau, we play with income, inventory, and policy. Inventory cannot beat inadequate incomes, but better compensation policies can. The labor market has reached peak disengagement rates, partially driven by historic strikes , resignations , non-participation , and silent quitting. By splitting the workforce into five income groups to view homeownership rates, we lay bare a cause for retreat from an increasingly unfair labor market – a system with four times more
Over the past few years, the most popular housing markets in the U.S. have experienced significant changes, showing a pattern of ongoing development and evolution, according to CoreLogic’s May Home Price Insights report. Per CoreLogic’s research, South Dakota—home to the historical Mount Rushmore—is the state with the second-fastest rate of appreciation, and Camden, New Jersey is among the top metro areas for appreciation in March 2024.
HousingWire is excited to announce the winners of the 2024 Women of Influence award, recognizing 100 women who are shaping and propelling the housing economy forward with their impressive achievements. This year marks the 15th year of this award program. Many of this year’s winners mentor women in the industry, paving the way for a new generation of leaders.
High interest rates and housing prices have priced millions of potential buyers out of the housing market, while the number of renters with cost burdens is at an all-time high, according to a new study released by Harvard University’s Joint Center for Housing Studies. Thankfully, the study found that some relief is in sight as rent growth is slowing due to a surge in new family rental units, and for-sale inventories are growing due to the increase in single-family construction.
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.
Massoud Atallah is leaving Anywhere Real Estate to join Lamacchia Realty. On Friday, the Anthony Lamacchia -helmed firm announced that Atallah had recently joined Lamacchia Realty as its new senior vice president of business development. According to the new release, Atallah will focus on agent recruiting and retention, with a goal of growing the firm in both New England and Florida.
A joint report from the Consumer Financial Protection Bureau (CFPB) and the Federal Housing Finance Agency (FHFA) have published and updated loan-level data for public use collected through mandatory demographic questions on mortgage applications through the National Survey of Mortgage Originations (NSMO). The data also provides updated mortgage performance and credit information for a nationally representative sample of mortgage borrowers from the years 2013-2021.
A joint report from the Consumer Financial Protection Bureau (CFPB) and the Federal Housing Finance Agency (FHFA) have published and updated loan-level data for public use collected through mandatory demographic questions on mortgage applications through the National Survey of Mortgage Originations (NSMO). The data also provides updated mortgage performance and credit information for a nationally representative sample of mortgage borrowers from the years 2013-2021.
Driven by Americans’ desire for affordability, more space and a “slower pace of life,” housing supply in suburbs and exurbs is growing faster than in major cities. That’s the key takeaway from a report released Monday by StorageCafe , an affiliate of real estate data provider Yardi , which analyzed U.S. Census Bureau data from 2013 to 2022 to determine the fastest-growing housing markets in terms of single-family and multifamily homes added.
According to a new report from StorageCafe, people have been looking for an alternative to busy urban areas and the suburbs have stepped up their game as of late. Point-and-case, suburban areas across the country are now growing faster than major cities, providing plenty of room to grow their families and for those seeking a better semblance of a work-life balance.
Proper Rate , a joint venture between Guaranteed Rate and residential brokerage @properties , has tapped Chris Knapp to lead the company as president. Knapp boomeranged back to Chicago-headquartered Guaranteed Rate after he left in 2019. He held posts at rivals CrossCountry Mortgage , Draper & Kramer Mortgage Corp. and, most recently, Wintrust Mortgage , where he was a vice president. “I’m delighted to welcome back Chris Knapp as president of Proper Rate.
Julie Molendorp Floyd remembers wondering about this new company called “RSDS Appraisal Diversity.” Serving as the Vice Chairman of the Missouri Appraisers Commission several years ago, Julie noticed the name “RSDS” appearing on more and more applications from appraiser candidates. “And I thought, who are these people? They’re operating in Kansas City.
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.
Federal Housing Finance Agency (FHFA) Director Sandra Thompson recently announced its conditional approval of Freddie Mac pilot to purchase second mortgages. I’ve personally been an outspoken supporter of this endeavor and I applaud this decision. The Community Home Lenders of America (CHLA) immediately issued a statement of support for this pilot.
“More than two dozen people” in Texas have sued EasyKnock over its sale-leaseback program, an NPR investigation found, adding to the company's legal woes.
Chicago-based Guaranteed Rate , one of the country’s largest mortgage lenders, has rebranded to Rate. The company made the announcement Monday on social media. “Today, we’re rebranding as Rate,” the company posted on LinkedIn. “Just like our streamlined name, we’re committed to making the mortgage process smoother, faster and smarter, using AI to empower both customers and loan officers alike.
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.
In light of market fluctuations and regulatory changes, mortgage lenders face significant challenges in today’s market. Even at the highest demand levels in 2024 , purchase mortgage applications were nearly 45% lower compared to the same weeks in 2018 and 2019, exacerbated by record-high origination costs. Freddie Mac’s recent study reveals the average cost to originate for the top 25% of performers is $6,900, rising to $16,500 for the bottom 25%.
Another group of plaintiffs has filed an appeal in the RE/MAX, KW and Anywhere settlements, while the brokerages offered new arguments for dismissing Batton.
The last week of June is really the peak of the homebuying season. Activity and prices typically start their seasonal decline very closely tied to the transition into the third quarter of the year. This coming week includes the July 4 holiday, which falls on a Wednesday, so the coming data will have a dip across the board. Inventory , new listings, etc. all dip over Independence Day, and the second half of the year curves lower.
Naples, Florida -based Premier Sotheby’s International Realty is shaking up its C-suite. On Monday, the firm announced that Adam Kaufman will be joining the firm as the senior vice president of the firm’s new development division. In this role, Kaufman will oversee sales and marketing efforts for the company’s new development projects across Florida and North Carolina.
New FAQs from the MLS and from its current owners, DMAR and SMDRA, shed light on user fees post-sale, but the timing and price of the deal remain undisclosed.
Redfin and Zillow are at the center of two video privacy suits that were filed on June 25 in the U.S. District Court for the Southern District of California. In two separate lawsuits, plaintiff Guillermo Mata accuses the real estate companies of violating the Video Privacy Protection Act and the California Invasion of Privacy Act by allegedly sending consumers’ personally identifiable data — including names and email addresses — to third-party firms such as Facebook parent Meta and Google parent
Fannie Mae has announced that it has executed a new Credit Insurance Risk Transfer (CIRT) transaction , CIRT 2024-L3 which transfers $337.2 million of mortgage credit risk to private insurers and reinsurers. The covered loan pool for CIRT 2024-L3 consists of approximately 24,000 single-family mortgage loans with an outstanding unpaid principal balance (UPB) of approximately $8.2 billion.
Michigan -based ERA Prime Real Estate Group has acquired Southgate, Michigan-based Compass Realty Pro , the company announced on Monday. The financial terms of the deal were not disclosed. According to the announcement, this acquisition will expand ERA Prime Real Estate Group’s market share in southeast Michigan. ERA Prime, which was founded in 2017 by Willie Ray III, currently has offices in Farmington and Grand Blanc, Michigan.
The bad news is, fee cures and associated costs are adding to the already skyrocketing cost of originating a mortgage. The good news is, these costs are entirely preventable. “ The Hidden Cost of Fee Cures ,” an analysis released by Intercontinental Exchange Inc. (ICE), chalks these costs up to the “Know Before You Owe” Rule , aka the TILA-RESPA Integrated Disclosure (TRID).
Yet another party has taken a stand in the Nosalek commission lawsuit. On June 20, Dmitry Shkipin — who runs development and operations at HomeOpenly.com — filed an amicus brief that takes aim at the changes to the agent commission structure outlined by the Department of Justice in its statement of interest. In his brief, Shkipin claims that the statements made by the DOJ are “not entirely accurate” and that the DOJ “contradicts information in its own publication.
Texas Capital Bank (TCB) is seeking a new partial summary judgment in its suit against Ginnie Mae. The suit alleges that the government-owned company “extinguished, in return for no consideration, TCB’s first priority lien on tens of millions of dollars in collateral” stemming from the Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgage (HECM) program.
GridBase , which offers integration solutions for lenders and title companies, has rolled out a new website that showcases the firm’s capabilities in data middleware, automation and integration. The new website is designed to streamline and optimize lender and title operations. It showcases the firm’s automations and integrations, which allow users to experience seamless connectivity without leaving their system of record.
This month, Inman looks at luxury real estate to develop a working definition and determine how to differentiate services for discerning luxury clients.
Homebuyer affordability improved in May, with the national median payment applied for by purchase applicants decreasing to $2,219, down from $2,256 in April, according to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index (PAPI). That’s a decrease of 1.6% – to an index score of 173.9. Median earnings were up 4.6% compared to one year ago, and while payments increased 2.5%, the strong earnings growth means that the PAPI is down 2.0% on an annual basis.
Expectations for future buyer pipelines have started to improve after a rough four-month stretch. Intel unpacks the latest developments with its Client Pipeline Tracker, fueled by the Intel Index.
Down Payment Resource is expanding its team to keep pace with a rising number of DPA programs and increasing demand. To that end, Veronica Chapa has joined Down Payment Resource as sales engineer. In addition, Lisa Rhodes, has joined the company as a DPA program specialist, while Lorrie Johnson has joined as a customer success specialist. Lorrie Johnson Chapa has an extensive mortgage industry background, having served in various roles at mortgage lenders and mortgage technology companies, inclu
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