Housing Wire

AUGUST 15, 2024

As home prices rise and high interest rates persist, many Americans are delaying purchasing a home, believing they cannot afford it or that now is a bad time to buy. However, waiting is not an option for homebuyers in pivotal chapters of their lives—whether starting a family or setting the stage for long-term financial stability. Why many would forego homeownership during a challenging mortgage market is easy to understand.

Government 476

Government Insurance Finance Mortgage 476

Appraisal Buzz

AUGUST 15, 2024

The U.S. foreclosure market experienced a notable uptick in July 2024, with foreclosure filings increasing by 15% from the previous month, according to the latest report from ATTOM Data, a land, property, and real estate data firm. A total of 31,929 properties across the nation faced foreclosure actions, which include default notices, scheduled auctions, or bank repossessions.

Marketing 448

Marketing Real Estate Housing Market Development 448

Housing Wire

AUGUST 15, 2024

Swiss bank UBS Group AG has decided to sell Credit Suisse ’s mortgage servicing company, Select Portfolio Servicing (SPS), to a group of investors led by Sixth Street , HousingWire has learned. Investment firm Davidson Kempner Capital Management is a co-investor. Representatives at Credit Suisse, Davidson Kempner and Sixth Street declined to comment.

Investors 475

Investors Mortgage Business Buyers 475

Appraisal Buzz

AUGUST 15, 2024

At their best, Loan Officers (LOs) should act as financial guides to their customers, helping them see and help surface opportunities that they did not know existed. To serve this role, LOs need to have a deep understanding of various products in the market, as well as the state of market conditions themselves. Essentially, the idea is to proactively connect the customer to the right opportunity at the right time on their financial journey.

Loan Officers 407

Loan Officers Clients Home Improvement Insurance 407

Housing Wire

AUGUST 15, 2024

Sky-high home prices and elevated mortgage rates are putting increasing strain on homeowners. That’s the takeaway from two reports released this week showing that foreclosure activity and mortgage delinquencies are rising. According to the Mortgage Bankers Association (MBA), the second-quarter 2024 delinquency rate for mortgages on one- to four-unit residential properties increased to 3.97% on a seasonally adjusted basis.

Mortgage 474

Mortgage Housing Market Real Estate Marketing 474

Appraisal Buzz

AUGUST 15, 2024

As weekly average mortgage rates decline to their lowest point in more than a year, the median housing payment for American homebuyers has reached its lowest point since February. During the four weeks ending August 11, the average home payment for a buyer was $2,588. This is an increase of just 1% year-over-year and is roughly $250 below the all-time high of April, the lowest gain in five years, according to a new Redfin study.

Buyers 394

Buyers Inventory Agents Mortgage 394

Appraisal Buzz

AUGUST 15, 2024

According to the latest Realtor.com Rental Report , all 50 major U.S. metro areas prefer renting to buying a starting home as rents continue to decline in July. Rising mortgage rates, rising housing prices, and declining rents all contribute to the over $1,000 savings when renting as opposed to buying, which is a pattern that was observed in February.

Marketing 389

Marketing Inventory Investors Mortgage 389

Housing Wire

AUGUST 15, 2024

Attorneys for the U.S. government, working on behalf of Ginnie Mae and the U.S. Department of Housing and Urban Development (HUD), last week filed a slew of new documents in their court case against Texas Capital Bank (TCB). These were primarily in response to the bank’s prior motion for a partial summary judgment and offer reasons why the motion should be denied.

Government 466

Government Development Law Lending 466

Real Estate News

AUGUST 15, 2024

In a webinar for agents, Real’s president discussed rule changes and best practices, noting that more than a third of agents don’t even know about the lawsuits.

Buyers 317

Buyers Agents 317

Housing Wire

AUGUST 15, 2024

The new rules mandated by the National Association of Realtors ‘ (NAR) settlement of class-action lawsuits related to buyer agent commissions take effect in just two days, and brokerages and MLSs are scrambling to find the best ways to implement them. The Real Brokerage is going all out to prepare its agents as it has created a “ playbook ” for navigating the new industry realities.

Brokerage 448

Brokerage Training Agents Clients 448

Real Estate News

AUGUST 15, 2024

On the Real Estate Insiders Unfiltered podcast, Nykia Wright pleaded with real estate pros to keep complaints in the family while pledging to earn their trust.

Real Estate 306

Real Estate 306

Housing Wire

AUGUST 15, 2024

For seniors who live alone and may not have easy access to public transportation, relatively simple tasks such as grocery shopping or medical appointments become much more difficult to complete. Volunteer and nonprofit groups can often step in to fill the void in these situations. Two examples are happening in the Pittsburgh metro area, where seniors are granted access to free, non-medical care to assist with a variety of daily needs.

Transportation 448

Transportation Insurance Government Finance 448

Real Estate News

AUGUST 15, 2024

CEO Glenn Kelman laid out what changes consumers could expect when working with the company’s agents, but his message was light on fee details.

Agents 298

Agents Buyers 298

Housing Wire

AUGUST 15, 2024

Toronto-based Bank of Nova Scotia , which operates as Scotiabank , has hired a group of JPMorgan Chase Bank executives to lead a new mortgage capital markets business that expects to launch this fall. Industry veteran Thanh Roettele , who spent more than 28 years at JPMorgan and was the managing director of its mortgage warehouse finance business, is transitioning to Scotiabank.

Mortgage 446

Mortgage Finance Lending Business 446

Real Estate News

AUGUST 15, 2024

Mortgage rates were relatively flat this week, remaining just under 6.5%, but buyers appear to be biding their time and waiting to see if rates fall further.

Buyers 290

Buyers Mortgage 290

Housing Wire

AUGUST 15, 2024

Editor in Chief Sarah Wheeler sat down with Lofty CTO Henry Li to talk about the boundaries of artificial intelligence and how it’s reshaping his company’s roadmap. Sarah Wheeler: What differentiates Lofty’s technology? Henry Li: Lofty is a platform product — that’s been our vision from day one. We want to be the operating system for our users and their essential operating staff — for agents, Realtors, and brokers, no matter how big they are.

Technology 437

Technology Agents Client Relationships Business 437

Appraisal Buzz

AUGUST 15, 2024

Zillow Group CEO Jeremy Wacksman Zillow Group Inc. has announced that longtime executive and COO Jeremy Wacksman has been promoted to CEO and appointed to the company’s Board of Directors. Wacksman succeeds Co-Founder Rich Barton , who remains on the Zillow Group Board of Directors and becomes Co-Executive Chair alongside Zillow Co-Founder and current Executive Chair Lloyd Frink.

Real Estate 221

Real Estate Design Business Agents 221

Housing Wire

AUGUST 15, 2024

While it might seem incredibly complicated to guide both owned brokerages and franchisees through the National Association of Realtors’ (NAR) nationwide commission lawsuit settlement agreement , Anywhere Real Estate views having both models under its umbrella as a blessing. “The beauty of a franchise network is it is not just us looking out across our business that we feel compelled to run and make all the decisions — we have this back and forth, where franchisees also inform us, and I thin

Brokerage 435

Brokerage Agents Legal Buyers 435

Inman

AUGUST 15, 2024

The association aims to offer an alternative to NAR and is launching its membership program when there is a "lot of dissatisfaction with the status quo," according to one co-founder.

Real Estate 196

Real Estate Realtors Agents 196

Housing Wire

AUGUST 15, 2024

Real estate technology company Voxtur Analytics Corp. announced this week that Ryan Marshall was promoted to the role of CEO. He previously served as the company’s chief operating officer and chief product officer. “I am honored to take on the role of CEO at Voxtur,” Marshall said in a statement. “With the overwhelming support of our shareholders, employees, and clients, we are poised to build on our successes and address the challenges from the past.

Client Relationships 434

Client Relationships Real Estate Property Taxes Technology 434

Appraisal Buzz

AUGUST 15, 2024

Ryan Marshall is the new CEO for Voxtur Analytics , which offers targeted data analytics to simplify tax solutions, property valuation and settlement services throughout the lending lifecycle for investors, lenders, government agencies and servicers. Marshall formerly served as Voxtur’s chief operating officer and chief product officer. Prior to that, he was CEO of Benutech, a real estate data and technology provider that was acquired by Voxtur in 2021.

Client Relationships 195

Client Relationships Technology Clients Valuation 195

Miller Samuel

AUGUST 15, 2024

With the recent financial market drama in Japan over the Yen carry trade, I was tapped to do interviews on the impact on the residential housing market and the change in thinking towards Fed rate cuts in the fall. Business of Home Podcast – Rate Cuts In Sight Bloomberg Radio – Fed Rate Cuts Could Trigger Housing Demand, Rent Drop The post August Digital Media Interview Wrap-up On Rate Cuts first appeared on Miller Samuel Real Estate Appraisers & Consultants.

Real Estate 195

Real Estate Housing Market Business Appraisal 195

Appraisal Buzz

AUGUST 15, 2024

The mortgage delinquency rate increased to a seasonally-adjusted 3.97% as of the end of then second quarter according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey. That’s up 3 basis points from the first quarter and up 60 basis points from the second quarter of 2023. The percentage of loans on which foreclosure actions were started in the second quarter fell by 1 basis point to 0.13%.

Mortgage 195

Mortgage Appraisal 195

Inman

AUGUST 15, 2024

Olympic gold medalist Simone Biles isn't sitting back and relaxing after a successful run at the 2024 Paris Olympic Games. Now that the gymnast is back in Texas, she is returning to the ongoing construction of her dream mansion.

Construction 190

Construction Design 190

Appraisal Buzz

AUGUST 15, 2024

Mortgage rates held steady this week, with the average rate for a 30-year, fixed-rate mortgage at 6.49%, up slightly from 6.47% last week, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago at this time, the average rate for a 30-year was 7.09%. “While rates increased slightly this week, they remain more than half a percent lower than the same time last year,” says Sam Khater, chief economist for Freddie Mac, in a statement.

Mortgage 195

Mortgage Sellers Housing Market Buyers 195

Inman

AUGUST 15, 2024

In an interview with NextHome CEO James Dwiggins, NAR interim CEO Nykia Wright urged members to lean back into engaging the 1.

Realtors 187

Realtors Brokerage Agents 187

Appraisal Buzz

AUGUST 15, 2024

Multifamily lenders provided a total of $246.2 billion in new mortgages for apartment buildings with five or more units in 2023 – a decrease of 49% compared with 2022, according to the Mortgage Bankers Association (MBA). Fifty-one percent of the 2,520 different lenders providing data made five or fewer multifamily loans over the course of the year. “Multifamily lending fell by roughly half in 2023 as sales transactions declined and far fewer property owners sought to refinance their loans,” says

Lending 195

Lending Government Real Estate Investors 195

Inman

AUGUST 15, 2024

The team that founded EasyKnock-acquired power buyer Ribbon has launched Indigo, an artificial intelligence-powered transaction management and home search platform. The platform is only available in Charlotte and is free to use until Oct. 1.

Buyers 177

Buyers Technology Agents 177

Appraisal Buzz

AUGUST 15, 2024

NFM Lending EVP and Chief Legal Officer LaTasha Waddy NFM Lending and its family of lenders has announced the promotion of LaTasha Waddy to EVP and Chief Legal Officer. Waddy has been integral to the NFM Lending team since 2012, previously serving as General Counsel and Chief Compliance Officer. In her tenure at NFM Lending, Waddy’s expertise and commitment have made her a critical member of the executive team, where she has played a pivotal role in guiding the company through complex legal and

Legal 195

Legal Lending Appraisal 195

Inman

AUGUST 15, 2024

Industry veteran Alex Perriello says that to fix the affordability problem in America, agents need to get involved, and smart tax incentives need to be offered.

Agents 173

Agents Home Value Marketing 173

Appraisal Buzz

AUGUST 15, 2024

Mortgage Machine Services , offering digital origination technology to residential mortgage lenders, has launched Auto Split, an enhancement to the Click n’ File document management system embedded into the Mortgage Machine loan origination system (LOS). Specifically designed to extract and store loan documents, Auto Split enables lending staff to improve loan processing efficiency, enabling mortgage lenders to optimize speed to close.

Mortgage 150

Mortgage Clients Design Tools 150

Inman

AUGUST 15, 2024

This fall, Texas-sized opportunities await you at Inman Connect Austin 2024, where the stars of real estate align with the Lone Star State's unstoppable market on Oct. 8-9, 2024.

Real Estate 171

Real Estate Marketing Brokerage Agents 171

Eyes on Housing

AUGUST 15, 2024

A lack of affordability and buyer hesitation stemming from elevated interest rates and high home prices contributed to a decline in builder sentiment in August. Builder confidence in the market for newly built single-family homes was 39 in August, down two points from a downwardly revised reading of 41 in July, according to the National.

Marketing 109

Marketing Buyers 109

Inman

AUGUST 15, 2024

Meeting and exceeding client expectations, mega team leader Carl Medford writes, means making sure you're communicating with them and helping them understand their transaction process.

Clients 171

Clients Brokerage Agents 171