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

Accessory dwelling units (ADUs) have a lot of potential for aging in place, as evidenced by their growing popularity and statements from private companies and public officials alike that emphasize their utility for housing seniors. In one recent instance highlighted by the Los Angeles Times , one family turned to an ADU after finding limited options and is poised to see a loved one live in a modern, age-appropriate setting.

Mortgage 476

Mortgage Tenants Construction Landlords 476

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

Single-family rents have risen by a mind-boggling 39.6% since the COVID-19 pandemic began in March 2020. More recently, these increases have been more of a mixed bag, depending on the metro area. At the national level, rent growth is gaining speed again. Zillow ‘s monthly rental report shows that U.S. single-family rents rose by 4.7% year over year in June and were 0.4% higher than in May.

Marketing 468

Marketing Housing Market Real Estate 468

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

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.

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Brokerage Agents Real Estate Agent Real Estate 451

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

Building a diverse workforce representative of today’s homebuyers is more than just good business strategy, it’s a moral obligation for the housing industry. The demographics of first-time homebuyers in this country are shifting, with Latinos playing an increasingly significant role. New household formation is a precursor to purchasing, and in 2023 alone, Latinos added 450,000 new households.

Real Estate 448

Real Estate Loan Officers Training Mortgage 448

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

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.

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Government Design Insurance Mortgage 448

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 290

Inventory Buyers Mortgage Marketing 290

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 446

Finance Mortgage Design Marketing 446

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

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 445

Tools Technology Insurance Legal 445

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

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 439

Lending Technology Training Investing 439

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

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 435

Realtors Inventory Agents Clients 435

Appraisal Buzz

JULY 10, 2024

Mortgage hedge advisory firm Vice Capital Markets has integrated the Fannie Mae’s Mission Score application programming interface (API) into its trading portal, allowing current clients to take advantage of pricing and best execution decisions to improve gain-on-sale. “By utilizing current integrations with Fannie Mae and making minimal updates to current procedures, our development team was able to deliver our clients instant access to FNMA’s Mission Index API,” says Shawn Ansley, chief informa

Marketing 195

Marketing Clients Finance Development 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 435

Brokerage Legal Realtors Investors 435

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 435

Sellers Real Estate Agents Clients 435

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 192

Technology 192

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 434

Government Modernization Mortgage Marketing 434

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 192

Agents Development Real Estate Brokerage 192

Housing Wire

JULY 10, 2024

While Northwest Ohio ’s housing market has remained fairly strong in recent months, local real estate agents say things become a bit more complicated when you segment the market by price point. “Things under $300,000 are still moving fairly quickly, especially if the home is priced correctly,” said Jacob Fleischmann , a Wauseon, Ohio-based agent for Howard Hanna Real Estate Services agent.

Inventory 432

Inventory Buyers Agents Inspection 432

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 183

Real Estate Brokerage Agents 183

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 429

Mortgage Retail 429

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 179

Realtors Inventory Real Estate Marketing 179

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 428

Housing Market Marketing Inventory Mortgage 428

Inman

JULY 10, 2024

Creating a workplace where everyone feels valued, welcomed and respected is vital to an organization’s success, Keller Williams' Julia Lashay Israel writes, and it doesn’t just happen overnight.

Agents 173

Agents Brokerage 173

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 427

Sellers Loan Officers Buyers Technology 427