Housing Wire
OCTOBER 11, 2024
CoreLogic’s risk index rose 8.3% in the past year, driven by more cases of identity and transaction fraud New data shows that cases of fraud among mortgage applicants is on the rise — an eye-raising trend as demand from borrowers remains relatively quiet. The CoreLogic Mortgage Application Fraud Risk Index jumped by 8.3% year over year in the second quarter of 2024.
Appraisal Buzz
OCTOBER 11, 2024
Do rising mortgage rates necessarily trigger an economic recession or vice versa? With six of 10 distinct housing recessions since the 1970s preceding an economic recession (as determined by the National Bureau of Economic Research Business), it is tempting to answer, “yes.” But real estate economists say it’s not so simple. “Let’s not mistake correlation for causation,” said researcher and Deputy Chief Economist for First American Financial Corporation Odeta Kushi , who publishes quarterly anal
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Housing Wire
OCTOBER 11, 2024
Brokerages are scrambling to adapt to the post-settlement landscape of real estate, and more of them are turning to the same method for growing their headcount — acquiring new teams. The addition of teams is an efficient way for major brokerages to bolster agent counts and boost sales volumes on their income statements. But a new survey reveals diversity in the ways that teams are structured and how they produce different outcomes.
Appraisal Buzz
OCTOBER 11, 2024
Ginnie Mae and the U.S. Department of Housing & Urban Development (HUD) will co-host the “Mortgage Market Resilience and Access to Credit Summit” on Tuesday, October 15 at HUD’s headquarters. This event will explore the intersection between liquidity for mortgage lenders, servicers, and mortgage-backed securities Issuers, and the preservation of borrowers’ access to affordable credit throughout the economic cycle.
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 With construction projects becoming more complex, outdated processes are no longer sustainable.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 11, 2024
SERHANT. has added a high-performing team to its presence in Charleston, South Carolina. Key Avenue Group is leaving Keller Williams for SERHANT., bringing a team with more than $300 million in career sales. Key Avenue is led by Christopher Smith and Patrick Ryan. SERHANT. first entered South Carolina in 2023. “We chose SERHANT. because we feel the real estate industry is in need of change,” Smith said in a statement.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Housing Wire
OCTOBER 11, 2024
Mortgage solutions provider Floify is now going to go toe-to-toe with Equifax ‘s oft-maligned workplace verification provider The Work Number, which has been criticized by mortgage lenders and regulators for years of cost increases. Floify is the first point-of-sale system (POS) to introduce a native electronic verification of income and employment service, Sofia Rossato, the president of Floify, said in an interview with HousingWire.
Appraisal Buzz
OCTOBER 11, 2024
The Federal Housing Finance Agency (FHFA) has launched a new index measuring price trends for manufactured homes using national datasets. The new index provides quarterly data on the movement and level of manufactured home prices nationally. It will be included with FHFA’s quarterly home price index. “FHFA’s new data resource on manufactured homes provides relevant, up-to-date information on an important but less-understood segment of the housing market,” says Sandra L.
Housing Wire
OCTOBER 11, 2024
The real estate industry is currently divided over the National Association of Realtors’ Clear Cooperation Policy, but one local Realtor association and MLS has decided to move beyond just voicing an opinion. In an email sent to members on Oct. 3, Utah-based Park City Board of Realtors (PCBR) announced that it would no longer be enforcing the clear cooperation rule, as first reported by Inman News.
Real Estate News
OCTOBER 11, 2024
A recent survey found that many agents are not satisfied with local association services and find MLSs less relevant in light of new industry rules.
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Housing Wire
OCTOBER 11, 2024
The U.S. Department of Justice (DOJ) announced on Thursday a $6.5 million agreement with Citadel Federal Credit Union to settle allegations of lending discrimination in certain neighborhoods of Philadelphia with majority Black and Hispanic populations. This is the DOJ’s first redlining settlement involving a credit union. The sector includes 4,600 financial institutions across America, which are subject to federal laws, including those pertaining to redlining and other forms of discrimination.
Real Estate News
OCTOBER 11, 2024
A decision by Park City Realtors could signal a shift in local associations’ willingness to abide by NAR policies, and comes as the CCP debate intensifies.
Housing Wire
OCTOBER 11, 2024
Mortgage business has increased recently for Wells Fargo head Charlie Scharf, left, and JPMorgan Chase CEO Jamie Dimon, but will it last? JPMorgan Chase and Wells Fargo are starting to feel the effects of the Federal Reserve ’s 50-basis-point rate cut in September on their mortgage businesses. On Friday, both banks reported an uptick in home lending during the third quarter of 2024 compared to the previous quarter.
Real Estate News
OCTOBER 11, 2024
Zillow acquires virtual staging app; CubiCasa now turning floor plans into virtual tours; new CoreLogic platform integrates data; Propy and Inspectify team up.
Housing Wire
OCTOBER 11, 2024
As those on a fixed income continue to wrestle with rising property taxes , the mayor of South Portland, Maine , recently recommended that area seniors explore reverse mortgages as a potential option to add financial flexibility. After enduring backlash, Mayor Misha Pride has walked back his comments. “Contemplating the recent rise in property values, I suggested some seniors might consider a reverse mortgage,” Pride wrote in a letter to t he editor of the Portland Press Herald on Thursday.
Appraisal Buzz
OCTOBER 11, 2024
Candor Technology has expanded its Loan Engineering System (LES) to include Federal Housing Administration (FHA) loans. In an industry first, Candor’s LES not only automates underwriting decisions for FHA loans but also offers a warranty on income calculations and cleared conditions for funded FHA loans. “There is no other automated underwriting technology that helps lenders make decisions on FHA loans like ours,” says Mark Hinshaw, CEO of Candor Technology, in a release.
Housing Wire
OCTOBER 11, 2024
Coldwell Banker Realty is welcoming even more agents to the firm. On Friday, the Anywhere firm announced the affiliation of Beacon, NY-based Daniel Aubry Realty. The affiliation marks the opening of the first Coldwell Banker Realty office in Dutchess County, New York. The firm was founded in 2009 by broker-owner Daniel Aubry. He and six real estate sales professionals, including associate broker Ron Donofrio, Julian Park, Veshtrim Osmani, Danielle Velez, Matan Broshi and James Murphy are making
Appraisal Buzz
OCTOBER 11, 2024
The driving costs associated with owning a home account for 34% of the average national salary; according to Redfin , this percentage decreases when mortgage rates decline and the surge in housing prices subsides; historically, affordability also increases slightly but remains inadequate. After 60 Days On The Market, Half Of All Home Listings Have Become Stale And Unsold August experienced a further slowdown in the lackluster summer market, with home sales reaching a record low since the epidemi
Real Estate News
OCTOBER 11, 2024
Defendants seek dismissals in the Missouri case; leading Utah MLS dropped from lawsuit involving flat-fee brokerage; eXp files settlement.
Appraisal Buzz
OCTOBER 11, 2024
Sales of existing homes fell 1% month over month and 3.1% year-over-year in August—to a seasonally adjusted annual rate of 4,042,369. That’s the lowest level in records dating back to 2012, with the exception of May 2020, when the pandemic brought the housing market to a standstill. Pending sales—a more current gauge of housing market activity that includes both existing and newly constructed homes—fell to the lowest level on record aside from April 2020.
Inman
OCTOBER 11, 2024
Led by broker-owner Daniel Aubry, Daniel Aubry Realty comprises a team of six agents who bring a wealth of experience in both commercial and residential real estate, backed by Aubry’s extensive background in the industry.
Appraisal Buzz
OCTOBER 11, 2024
Financial Dwellings , a mortgage firm serving Colorado, has partnered with Calque to provide “buy-before-you-sell” loan programs including the Trade-In Mortgage and Contingency Buster. This strategic partnership harnesses the strengths of both companies to deliver innovative and reliable mortgage products designed to simplify the home-buying and selling process for borrowers, Calque says in a release.
Inman
OCTOBER 11, 2024
Rick Guerrero and social media star Jenny Lynn Tran discuss how you can use content to add value, educate, and connect with clients and colleagues.
Appraisal Buzz
OCTOBER 11, 2024
Mortgage automation software provider Floify has launched Floify Verify, a native verification of income and employment service. Powered by Argyle, Floify Verify streamlines the mortgage origination process by allowing lenders to verify income and employment at a cost-effective price point, without the hassle of managing additional third-party vendors, the company says in a release.
Inman
OCTOBER 11, 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.
GoForrmz
OCTOBER 11, 2024
How digital transformation is key to defending against the growing costs of cybercrime Cybercrime costs were estimated to hit USD 8 trillion in 2023, a figure expected to grow in the coming years as digital threats become more sophisticated. As businesses increasingly adopt digital tools, securing sensitive data and protecting against cyberattacks have become paramount.
Inman
OCTOBER 11, 2024
Anywhere Brands President and CEO Sue Yannaccone offers a measured, thoughtful assessment of the Clear Cooperation Policy debate.
Eyes on Housing
OCTOBER 11, 2024
Prices for inputs to new residential construction—excluding capital investment, labor, and imports—decreased 0.6% in September according to the most recent Producer Price Index (PPI) report published by the U.S. Bureau of Labor Statistics. Compared to a year ago, this index was down 0.1% in September after an increase of 1.0% in August. The inputs to.
Inman
OCTOBER 11, 2024
Connecticut has entered into a consent decree revoking the fintech mortgage lender's license, and LoanSnap has been put on notice by California regulators that they intend to do the same.
Eyes on Housing
OCTOBER 11, 2024
Residential improvement spending softened in 2023 due to elevated interest rates, high inflation, and sluggish home sales. According to the Bureau of Economic Analysis’ National Income and Product Accounts (NIPA), expenditures for residential home improvements rose 2% to $363 billion in 2023, from $356 billion in 2022. The 2% year-over-year (YOY) gain in 2023 marks.
Inman
OCTOBER 11, 2024
Industry analyst Mike DelPrete writes that manipulating the display of data has the potential to mislead individual retail investors, eroding long-term trust.
BiggerPockets
OCTOBER 11, 2024
Real estate “boomtowns” present a massive opportunity to investors in 2024.
Inman
OCTOBER 11, 2024
The Park City Board of Realtors informed the National Association of Realtors it would no longer require agents to comply with the pocket listing rule due to fear of litigation.
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