Housing Wire

JULY 10, 2024

With the release of the CoreLogic 2024 Q1 Equity Insights report, which Logan discussed last week , and now the FHFA National Mortgage Database Aggregate Statistics , we have a lot of visibility into the financial position of the American homeowner. The important message in the mortgage data is that even as the economy perhaps finally slows and even as mortgage rates stay higher for longer than anyone expected, the housing market remains buoyed by an incredible cushion of very strong borrowers.

Inventory 545

Inventory Housing Market Mortgage Marketing 545

Appraisal Buzz

JULY 10, 2024

The Consumer Financial Protection Bureau (CFPB) has proposed new rules to simplify the process for homeowners to get help when struggling to pay their mortgage. “ Streamlining Mortgage Servicing for Borrowers Experiencing Payment Difficulties ,” if finalized, would require mortgage servicers to focus on helping borrowers, not foreclosing, when a homeowner asks for help.

Mortgage 448

Mortgage Home Improvement Government Investors 448

Housing Wire

JULY 10, 2024

Earnest money service Earnnest and CoreLogic are launching a strategic partnership, according to an announcement on Wednesday. Earnnest is joining CoreLogic’s Real Estate Alliance Network, making it CoreLogic’s exclusive provider of escrow management services through its suite of MLS products, which includes Matrix, OneHome , MLS-Touch and Trestle. Through the Earnnest platform, users can securely and efficiently conduct digital transfers of earnest money deposits, eliminating the need for tradi

Real Estate 440

Real Estate Realty Clients 440

Appraisal Buzz

JULY 10, 2024

In the most recent Fannie Mae Mortgage Lender Sentiment Survey (MLSS), mortgage lenders listed “cost-cutting” and “talent management and leadership” as their two top business objectives for 2024. Lenders had stated last year that lowering costs was their top goal. According to the most recent MLSS, almost two-thirds of respondents said they planned to reduce staff in 2023; however, very few said they expected this trend to remain until 2024.

Mortgage 396

Mortgage Business Technology Development 396

Housing Wire

JULY 10, 2024

Brokerages know that the recruitment of real estate agents and teams is always competitive, and some have found it even more so in the wake of the National Association of Realtors ’ settlement that’s prompted agents to reevaluate their businesses. But SERHANT. has shot its brand to the top of every agent’s wishlist in a way — and at a scale — that other brokerages aren’t able to replicate.

Brokerage 429

Brokerage Agents Real Estate Agent Real Estate 429

Appraisal Buzz

JULY 10, 2024

Veros Real Estate, an enterprise risk management and collateral valuation company, has released it second quarter VeroFORECAST, which projects an average nationwide home price forecast for the forthcoming year. The most recent forecast, which is published every quarter, predicts an average appreciation rate of 3.2% year-over-year, which is a slight increase from the first quarter forecast of 2.9%.

Home Value 390

Home Value Inventory Housing Market Buyers 390

Appraisal Buzz

JULY 10, 2024

Join us as we talk with Vincent Chu, CTO and co-founder of HomeVision, about the innovative ways AI is revolutionizing real estate appraisals. Discover how HomeVision balances automated valuation models with human expertise, the challenges and opportunities this balance presents, and the future breakthroughs in AI for property valuation. Vince is joining us at Valuation Expo on August 19-21.

Real Estate 370

Real Estate Appraisal Valuation Modernization 370

Housing Wire

JULY 10, 2024

United Wholesale Mortgage (UWM) announced on Wednesday that it will temporarily give a 125-basis points incentive in some government refinancing programs, another step to guarantee the retention and attraction of home borrowers looking to lower their mortgage rates. The Govy125 program includes any note rate, any occupancy for the U.S. Department of Veterans Affairs interest rate reduction refinance loans (IRRRLs), and non-credit qualifying Federal Housing Administration (FHA) streamlines.

Government 421

Government Insurance Design Mortgage 421

Appraisal Buzz

JULY 10, 2024

According to a new TD Bank study , the majority of homeowners (67%) believe that buying a home is still attainable, and 38% say they plan to buy one in the upcoming year. These results demonstrate positive sentiment toward the housing market despite growing prices and current interest rates. More than 1,800 homeowners nationwide were polled for TD Bank’s 2024 Mortgage Service Index in order to acquire information and examine opinions regarding the mortgage and home-buying processes, as well as s

Property Taxes 367

Property Taxes Finance Lending Housing Market 367

Housing Wire

JULY 10, 2024

Credit rating agency Fitch announced this week that its long-term issuer default rating (IDR) for Finance of America , the reverse mortgage industry’s leading lender, has been downgraded from “CCC+” to “C” following the announcement of a debt restructuring plan that staves off maturity risk beyond 2025. FOA announced late last month that it has restructured its unsecured debt into new, secured debt that will come due beyond the original 2025 maturity date, according to an announcement and an 8-K

Finance 421

Finance Mortgage Design Marketing 421

George Dell

JULY 10, 2024

Bias is an important topic right now. So what are we really talking about? Is someone right? And others wrong? Again, so much divisiveness today is the result of misunderstanding, and the tendency to believe whatever supports your prior opinion. I have heard: Appraisers are biased (meaning racially biased). Appraisers are not biased, so stop […] The post Bias or Unbias?

Appraisal 367

Appraisal 367

Housing Wire

JULY 10, 2024

Despite having a 100-plus-year history, the title industry is now embracing some of the newest technologies on the market, including artificial intelligence. An overwhelming 88.3% of title and escrow professionals surveyed have already adopted generative AI solutions, according to the State of AI in Title and Escrow published this week by Qualia. Qualia surveyed 378 title and escrow professionals about their thoughts on AI usage and application in the title insurance industry.

Tools 420

Tools Technology Insurance Legal 420

Appraisal Buzz

JULY 10, 2024

The Federal Emergency Management Agency (FEMA) , in partnership with the U.S. Department of Urban Housing & Development (HUD) , have published the Pre-Disaster Housing Planning Initiative Report to promote collaborative approaches to disaster housing recovery challenges and bolster state planning for housing recovery before disasters occur. This joint effort helps build local capacity and ensures states, Tribal Nations and territories adopt a proactive approach to housing recovery.

Development 221

Development Insurance Training Design 221

Housing Wire

JULY 10, 2024

The complexities of Non-QM lending demand a strategic approach that combines innovation, efficiency, and resilience. Acra Lending has positioned itself at the forefront of this sector by investing in its workforce, optimizing processes, leveraging cutting-edge technology, and building a robust infrastructure. In this executive conversation, we delve into how Acra Lending is enhancing its operations to better serve its customers and navigate the dynamic market environment.

Lending 419

Lending Technology Training Investing 419

Appraisal Buzz

JULY 10, 2024

Mortgage purchase locks fell 1% month-over-month and 8% year-over-year in June, according to Optimal Blue. That’s following a 4% year-over-year drop in purchase locks in May. The 30-year conforming rate bottomed out on June 13 at 6.810% before ending the month at 6.938%, 8 bps lower than the close of May, the secondary marketing software firm says in its latest Market Advantage mortgage data report.

Inventory 195

Inventory Mortgage Appraisal Marketing 195

Housing Wire

JULY 10, 2024

In a difficult housing market for Realtors, experience matters — a lot. That’s the conclusion of the 2024 Member Profile poll from the National Association of Realtors (NAR), which shows a sharp divergence in income when comparing more experienced agents to their less experienced colleagues. The median gross income for Realtors with at least 16 years of experience rose from $80,700 in 2022 to $92,500 in 2023.

Realtors 410

Realtors Agents Inventory Clients 410

Appraisal Buzz

JULY 10, 2024

Talk’uments , a digital language and limited English proficiency (LEP) technology provider, is now integrated with nCino’s Mortgage Suite , an end-to-end digital mortgage solution, thus enabling mortgage lenders using nCino to offer their LEP loan applicants additional transactional clarity during the mortgage application process. This is Talk’uments’ first integration into a POS solution in the financial services industry.

Mortgage 195

Mortgage Tools Technology Appraisal 195

Housing Wire

JULY 10, 2024

For over 37 years I have been a consultant to brokerage firms, MLS’s, Association of Realtors, and other entities related to the residential brokerage industry. In addition to general advisory consulting, I was involved in nearly 1,000 sales or acquisitions of entities in this industry. In addition to my role as a consultant, I was editor of REAL Trends, reporting on the same industry.

Brokerage 410

Brokerage Legal Realtors Investors 410

Appraisal Buzz

JULY 10, 2024

Mortgage application volume dipped 0.2% during the week ended July 5, as the average rate for a 30-year, fixed-rate mortgage decreased slightly to 7%, down from 7.03% the previous week, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. The results include an adjustment for the July 4th holiday. Applications for refinances decreased 2% compared with the previous week but were up 28% compared with the same week one year ago.

Mortgage 195

Mortgage Appraisal 195

Housing Wire

JULY 10, 2024

In this article, I’ll share close to two decades of experience as a licensed agent and small brokerage owner in Boston to help you compete and win listings with a dynamite listing presentation. As agents, we compete for a finite number of available homes to list and sell. That’s why it’s crucial that you stand out amongst your competitors to get those listings.

Sellers 410

Sellers Real Estate Agents Clients 410

Real Estate News

JULY 10, 2024

Supply is well above last year’s levels, but lower mortgage rates will be key to luring buyers into the market.

Inventory 266

Inventory Buyers Mortgage Marketing 266

Housing Wire

JULY 10, 2024

The Consumer Financial Protection Bureau (CFPB) on Wednesday announced a newly proposed rule that would amend Regulation X and require mortgage servicers to emphasize borrower assistance and loss-mitigation options over foreclosure when a borrower struggles to make their required mortgage payments. “The proposed changes would also make it simpler for servicers to offer assistance by reducing paperwork requirements, improve communication with borrowers, and ensure critical information is provided

Government 410

Government Modernization Mortgage Marketing 410

Inman

JULY 10, 2024

The acquisition will allow Final Offer, a platform for managing and negotiating offers, to provide a "transparent and straightforward experience when buying and selling a home," executives said.

Technology 157

Technology 157

Housing Wire

JULY 10, 2024

Highlands Residential Mortgage announced that Dan Carson recently joined the company as a senior vice president and area manager of its Park Cities branch in Dallas. Carson has spent more than a decade in the mortgage industry, having previously served in leadership positions for OriginPoint , Willow Bend Mortgage Co. , PrimeLending and PNC Bank. Dan Carson “I couldn’t be happier to join a local company with a growing national presence.

Mortgage 408

Mortgage Retail 408

Inman

JULY 10, 2024

NAR's 2024 Membership profile shows the impacts of a difficult market on real estate professionals — many of whom are contending with issues related to affordability and inventory.

Realtors 154

Realtors Inventory Real Estate Marketing 154

Housing Wire

JULY 10, 2024

Signs of a “stagnant late-spring housing market“ emerged in June as U.S. home prices declined for the first time this year and purchase mortgage locks fell by 8% year over year. That’s a key takeaway from the June 2024 Market Advantage report released Wednesday by Optimal Blue. The report, which covers the 20 largest U.S. metro areas, shows that the average home purchase price of $478,800 in June was down about $1,500 compared to May.

Housing Market 408

Housing Market Marketing Inventory Mortgage 408

Inman

JULY 10, 2024

Developing areas of specialization enhances service, efficiency, and effectiveness and results in greater professional success for both teams and individual agents, coach Verl Workman writes.

Agents 149

Agents Development Real Estate Brokerage 149

Housing Wire

JULY 10, 2024

Homebot and Newzip are teaming up in hopes of converting engagement into more transactions. The two companies announced the partnership on Wednesday, and it allows customers who are using both Homebot and Newzip to offer consumers up to 2% off their transaction costs. The companies believe this will help lead to a higher hit rate with buyers and sellers, in addition to passing savings on to them.

Sellers 408

Sellers Loan Officers Buyers Technology 408

Inman

JULY 10, 2024

Florance says Realtor.com lawsuit against CoStar is a response to Homes.com surpassing it in web traffic and takes aim at Zillow.

Real Estate 147

Real Estate Brokerage Agents 147

Housing Wire

JULY 10, 2024

Final Offer , an online offer and negotiation platform for residential real estate transactions, has acquired the North American operations of Openn Negotiation , further expanding its reach in the U.S. and Canada. Final Offer is currently available in 10 U.S. states as well as Ontario and Alberta, Canada. Openn is an Australian company that expanded into Canada in 2022 and developed integrated products and systems used by the Canadian Real Estate Association (CREA), including integrations with

Business 404

Business Real Estate Real Estate Agent Agents 404

Inman

JULY 10, 2024

Stop trying to be all things to your clients, broker Joseph Santini writes. Focus on the things that fall within your purview and direct traffic as needed on your transactions.

Clients 110

Clients HOA Inspection Brokerage 110

Mortgagebroker News

JULY 10, 2024

Company settles after being accused of penalising employees for taking protected forms of leave

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Inman

JULY 10, 2024

Rates surged and then pulled back last week in what could foreshadow more election-year volatility in the months ahead. Jerome Powell tells Congress Fed will remain above the fray.

Mortgage 103

Mortgage Marketing 103

BiggerPockets

JULY 10, 2024

The pandemic-fueled explosion of growth has waned, and now these real estate hot spots have gotten icy.

Real Estate 84

Real Estate Marketing 84