Housing Wire

JUNE 5, 2024

The U.S. Department of Housing and Urban Development (HUD) this week announced the launch of a new program designed to allow for the purchase, refinance or renovation of manufactured housing under a loan program sponsored by the Federal Housing Administration (FHA). The Manufactured Home Community loan product will “will help entities to preserve, stabilize, and revitalize these vital sources of affordable housing,” the department explained.

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Government Finance Renovations Design 529

Appraisal Buzz

JUNE 5, 2024

FinanceBuzz recently surveyed homeowners to find out what home maintenance tasks they are putting off, and the average cost of these delayed maintenance tasks and repairs. FinanceBuzz’s Josh Koebert analyzed data from 1,000 surveyed U.S. homeowners, aged 18 or older from April and May 2024. Of those surveyed, a majority of homeowners (three out of every five) or 60% are putting off some kind of necessary repair or maintenance project around the house.

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Finance Mortgage Appraisal 412

Housing Wire

JUNE 5, 2024

A report released Wednesday by Realtor.com shows that a key measurement of U.S. home values is growing faster that the more commonly viewed metric of listing price. The analysis revealed that, across the 50 largest U.S. metro areas, price per square foot rose by 52.7% during the five-year period ending in May 2024. By comparison, the national median list price for a home jumped 37.5% during the same period to its current level of $442,500.

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Agents Home Value Buyers Real Estate 522

Appraisal Buzz

JUNE 5, 2024

CoreLogic has updated its Home Price Index (HPI ) and HPI Forecast for April 2024. In April, annual home price appreciation in the United States remained above 5%, with three states seeing double-digit gains. By next spring, national price growth is expected to drop to 3.4%, with only a few states experiencing increases of more than 6%. This slow cooling reflects not only an increase in the quantity of properties on the market in some regions of the country, but also increased 30-year fixed-rate

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HOA Insurance Construction Inventory 370

Housing Wire

JUNE 5, 2024

Leading reverse mortgage lender Finance of America (FOA) has undergone a round of layoffs that are impacting multiple levels of the organization, including retail and corporate leadership positions. The news was first reported by National Mortgage News. While FOA catapulted to the top spot in the reverse mortgage industry virtually overnight last year after closing on its acquisition of former industry leader American Advisors Group (AAG), the company has also wrestled with fiscal challenges, ac

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Retail Finance Business Modernization 481

Appraisal Buzz

JUNE 5, 2024

This week, host Hal Humphreys sits down once again with Heather Sullivan, Head of Learning and Development at Aloft. One of the biggest issues we have seen from GSE’s is about appraisers supporting their adjustments. Why is that such an issue for some appraisers? Why is it crucial now more than ever for appraisers to master this skill? Heather will be teaching a free class for appraisers on August 19th at Valuation Expo called Mastering Market-Based Adjustments.

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Marketing Valuation Appraisal Development 343

Real Estate News

JUNE 5, 2024

CEO Brian Bair discusses the iBuyer’s push to expand agent programs and its strategy for success in a post-settlement future.

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Agents Buyers 290

Housing Wire

JUNE 5, 2024

Top mortgage technology executives say their companies are embracing artificial intelligence (AI) in their operations but still relying on human decision-making to sell loans. And that’s not expected to change anytime soon. “There’s one question every CEO, CTO, CIO, loan officer, processor, underwriter, they all ask the same thing: will AI replace my job?

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Mortgage Loan Officers Technology Tools 459

Real Estate News

JUNE 5, 2024

A new report from Realtor.com reveals a massive increase in price per square foot over the past five years.

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Housing Wire

JUNE 5, 2024

Loan repurchases continue to trend downward at both Fannie Mae and Freddie Mac , but there appears to be a separation developing in loan-repurchase patterns — with Freddie reducing its loan buybacks at a faster clip than Fannie, according to recently released data and public filings. The volume of loan repurchases at both Fannie and Freddie is down significantly since the peak in the second quarter (Q2) of 2022, with the steepest volume decline occurring over the final six months of 2023 (the mo

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Mortgage Government Technology Business 446

Appraisal Buzz

JUNE 5, 2024

According to a new LendingTree report , it seems that larger living spaces are regaining popularity. The average size of new residences in the U.S. increased significantly in 2023, returning to 916 square feet after falling sharply the previous year. This increase can be linked to more spacious two- and three-bedroom apartments that opened last year, as developers sought to accommodate renters’ need for more space.

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Construction Design Development Appraisal 195

Housing Wire

JUNE 5, 2024

Top U.S. real estate brokerage Compass announced Wednesday that it has hired Hal Bennett, a high-producing agent based in the Seattle area. Bennett formerly worked with Redfin , where he was recognized by RealTrends among the top-producing agents in the state of Washington in 2023. Bennett ranked No. 16 in the state with 63 sides and was No. 17 with $47.7 million sales volume last year. ”At this stage, joining Compass, a company at the forefront of technology and agent support, makes sense for m

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Agents Brokerage Tools Real Estate 445

Appraisal Buzz

JUNE 5, 2024

U.S. annual home price growth cooled in April, falling to 5.1% – down from a revised 5.7% in March and down from 6.1% in February, according to the ICE Home Price Index (HPI). Similarly, unadjusted monthly home price gains – at 0.88%- in April dipped below the 25-year same-month average for the first time this year. Adjusted for seasonality, U.S. home prices increased 0.28% in April – down from March’s 0.45% – equivalent to a seasonally adjusted annualized rate (SAAR) of 3.4%.

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Housing Market Appraisal Mortgage Marketing 195

Housing Wire

JUNE 5, 2024

Only 15 percent of U.S. adults believe the nation will be able to adequately care for its aging population , and nearly three-quarters (73%) of adults under the age of 65 are concerned that the Medicare program may not exist by the time they are able to qualify for it. This is according to survey results released this week by Gallup. In conjunction with health care nonprofit West Health , the organizations released their 2024 Survey on Aging in America report based on data compiled from both tra

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Government Finance 445

Appraisal Buzz

JUNE 5, 2024

Matt Smith has joined Starwood Capital Group , a global private investment firm with a primary focus on real estate, as managing director, head of U.S. residential asset management. Smith has held senior positions at various real estate private equity firms and multifamily investment firms. He was a managing partner for six years in Brookfield’s Real Estate Group, where he led portfolio management for a $21 billion multifamily portfolio.

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Property Management Real Estate Investing Appraisal 195

Housing Wire

JUNE 5, 2024

California -based mortgage lender loanDepot (LDI) has made two additions to its sales leadership team. On Wednesday, the company confirmed that Justin Andrews has been hired as the new area sales manager in the Seattle region. Andrews comes to loanDepot with 25 years of mortgage industry experience, including a recent stint as national director of branch partnerships at Movement Mortgage.

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Appraisal Buzz

JUNE 5, 2024

Mortgage application volume sank 5.2% during the week ended May 31, as the average rate for a 30-year, fixed-rate mortgage increased to 7.07%, up from 7.05% last week, according the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. This week’s results include an adjustment for the Memorial Day holiday. Applications for refinances decreased 7% compared with the previous week but were up 5% compared with the same week one year ago.

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Mortgage Government Lending Buyers 195

George Dell

JUNE 5, 2024

How did this “official” ROV process happen? We used to just swim, now we have a rowboat and an oar! Editor’s Note: To read the entire Row, Row, ROV series, and a few more posts on Reconsideration of Value, click here. ROV (Reconsideration of Value) is ostensibly motivated by bias issues, as well as other […] The post Row Row ROV? Pt 3 appeared first on George Dell, SRA, MAI, ASA, CRE.

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Reconsideration of Value 195

Inman

JUNE 5, 2024

In bankruptcy court, the Huntsville, Alabama-based mortgage lender says it plans to repay creditors by claiming more than $20 million in tax credits and clawing back $1 million from warehouse lenders.

Mortgage 192

Mortgage Marketing 192

Eyes on Housing

JUNE 5, 2024

The Market Composite Index, a measure of mortgage loan application volume by Mortgage Bankers Association’s (MBA) weekly survey, has been hovering around 200 since October 2022 as higher mortgage rates and low resale inventory continue to hamper potential buyers. On a week-over-week change, total mortgage, purchasing, and refinancing activities decreased 5.2%, 4.4% and 6.

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Mortgage Inventory Buyers Marketing 148

Inman

JUNE 5, 2024

On May 30, for the first time in its 280-year history, Sotheby's London saleroom hosted an auction at which luxury real estate was exhibited. The headline auction item was a Hudson Valley castle.

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Real Estate Realty 182

Appraiserblogs

JUNE 5, 2024

Bureau is currently investigating various fees associated with obtaining a loan, with the goal of identifying any that may be particularly burdensome or concerning for borrowers. As we all know many AMCs are not paying Customary & Reasonable fee as required by TILA. They have consistently pushed down the pay of Appraisers while making undisclosed profit off consumers and prioritizing cheapest and fastest over quality and competency.

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Lending Appraisal Mortgage 143

Inman

JUNE 5, 2024

The Great Renovation is already in process. Author Bernice Ross and New Western's Kurt Carlton discuss how it can solve our inventory problems by breathing new life into America’s aging and abandoned vacant homes.

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Renovations Inventory Investing Agents 182

BiggerPockets

JUNE 5, 2024

Mortgage porting allows you to transfer an existing mortgage from one property to another, with the same lender and the same terms, under certain conditions. Is this something investors should try?

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Investors Mortgage 91

Inman

JUNE 5, 2024

In less than a week, a series of reports has changed the outlook for the timing and magnitude of future Fed rate cuts, sending mortgage rates into a five-day tailspin.

Mortgage 174

Mortgage Marketing 174

BiggerPockets

JUNE 5, 2024

On a calm Mother’s Day, my family and I left our snug bed and breakfast, only to come back to a pretty disheartening sight.

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Insurance Investors 90

Inman

JUNE 5, 2024

Located 50 miles from Manhattan in the town of Greenwood Lake, New York, Tiedemann Castle has seen $8 million in discounts since it was first listed in 2018.

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Buyers Real Estate 173

BiggerPockets

JUNE 5, 2024

BiggerPockets has become synonymous with real estate investing. You can learn about just about any topic under the umbrella of real estate if you’re willing to explore.

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Real Estate Investing Development 87

Inman

JUNE 5, 2024

Tune in to Inman Access and dive into the importance of people skills, strategies to connect better with your clients, and how to become the person who everyone wants to work with.

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Business Clients Brokerage Agents 165

Mortgagebroker News

JUNE 5, 2024

CEO on the next transformations set to impact the mortgage space

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Mortgage 83

Inman

JUNE 5, 2024

Hal Bennett is based in the Seattle metro area. He joins Compass as brokerages continue to compete for top agent talent.

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Agents Brokerage 162

Mortgagebroker News

JUNE 5, 2024

Stop obsessing over the term and start driving economic growth policies, says RBC economist

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Inman

JUNE 5, 2024

Homeowners with at least a 5 percent mortgage rate are three times more likely to enter the market soon as those with a sub-3.5 percent rate, according to results from Inman-Dig Insights' latest consumer poll.

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Mortgage Marketing Brokerage Agents 132

Mortgagebroker News

JUNE 5, 2024

Updated policy aims to prevent defaults in multi-unit housing projects

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Development 82