Housing Wire

MAY 23, 2024

The Federal Housing Administration (FHA) on Thursday published Mortgagee Letter (ML) 2024-10 , outlining reporting requirements that lenders must follow if they detect a cybersecurity intrusion. Effective immediately and applicable to all FHA-insured mortgage programs, the letter states that all lenders “that experience a potential or actual cyber incident must notify HUD via the FHA Resource Center at answers@hud.gov and HUD’s Security Operations Center at cirt@hud.gov within 12 hours of detect

Law 451

Law Design Insurance Tools 451

Sacramento Appraisal Blog

MAY 23, 2024

It wasn’t on my housing market bingo card to be paying such close attention to insurance, but this is a huge deal for California (and some other states). I promise this won’t become an insurance crisis blog, but today I have some brand new stats to share for Sacramento and the Bay Area. UPCOMING SPEAKING […] The post An insurance crisis wasn’t on my bingo card first appeared on Sacramento Appraisal Blog.

Insurance 368

Insurance Housing Market Appraisal Marketing 368

Housing Wire

MAY 23, 2024

New home sales missed estimates , showing that demand isn’t crashing but not growing much either. However, we need to keep an eye on the housing construction data in this report because it has huge implications for the economic cycle, our recession risk and mortgage rates. As the chart below shows, the housing sector generally poses a future risk to labor if the single-family permits data continues to decline.

Marketing 420

Marketing Construction Mortgage Housing Market 420

Real Estate News

MAY 23, 2024

Buyers may be able to take advantage of lower rates and increasing inventory, but many are still priced out, dampening sales.

Inventory 282

Inventory Buyers Mortgage 282

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 With construction projects becoming more complex, outdated processes are no longer sustainable.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.

Construction

Housing Wire

MAY 23, 2024

Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a pretax net loss of $645 on each loan they originated in the first quarter of 2024 — a decrease from the average loss of $2,109 per loan in Q4 2023, according to the Mortgage Bankers Association ’s (MBA) newest quarterly performance report. “While the first quarter of 2024 marks the eighth consecutive quarter of net production losses, these losses were less severe than the previous two quarters,” Marina Wals

Retail 404

Retail Mortgage Valuation Inventory 404

Housing Wire

MAY 23, 2024

The median U.S. home sale price reached a record $387,600 in the four weeks ending May 19, marking a 4% year-over-year increase, according to data released Thursday by Redfin. The pricing surge comes despite a marginal dip in weekly average mortgage rates , which fell from a five-month high of 7.22% to 7.02% at the beginning of May, according to Freddie Mac.

Inventory 393

Inventory Sellers New Listings Buyers 393

Real Estate News

MAY 23, 2024

As multiple listing services work to comply with new rules, some worry about liability risks — but including concessions could be a competitive advantage.

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Housing Wire

MAY 23, 2024

In the first quarter of 2024, 38% of a typical household’s income was needed to make a mortgage payment on a median-priced, new single-family home in the U.S. That’s according to the Cost of Housing Index (CHI) unveiled Thursday by the National Association of Home Builders (NAHB) and Wells Fargo. For low-income families, or those earning up to 50% of the area median income, the burden is even heavier, with 77% of their earnings needed for the same home.

Supply Chain 393

Supply Chain Insurance Training Construction 393

Appraisal Buzz

MAY 23, 2024

Mortgage rates fell this week, with the average rate for a 30-year, fixed-rate mortgage dropping to 6.94%, down from 7.02% last week, according to Freddie Mac’s Primary Mortgage Market Survey. “Spring homebuyers received an unexpected windfall this week, as mortgage rates fell below the seven percent threshold for the first time in over a month,” says Sam Khater, chief economist for Freddie Mac, in a statement.

Mortgage 195

Mortgage Inventory Housing Market Appraisal 195

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Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.

Real Estate

Housing Wire

MAY 23, 2024

A study commissioned by the U.S. Department of Housing and Urban Development (HUD) Office of Policy Development and Research (PD&R) in 2022 aimed to assess the state of the Home Equity Conversion Mortgage (HECM) program over a 20-year period. The study, released late last year, examined three core elements of HECM program effectiveness between 2000 and 2020.

Home Value 384

Home Value Development Property Appraisal Mortgage 384

Appraisal Buzz

MAY 23, 2024

Truity Credit Union , a member-owned credit union with locations in Oklahoma, Kansas and Texas, is using Dark Matter’s Empower loan origination system to provide loan officers and members a modern, mobile-friendly experience across home purchase, refi, home-equity and construction loan originations. According to Joe Beffer, Truity’s senior vice president and director of lending, the credit union chose Dark Matter for its mobile-friendly borrower portal and for features that will help its interna

Loan Officers 195

Loan Officers Modernization Construction Lending 195

Housing Wire

MAY 23, 2024

Freddie Mac ’s head of single-family acquisitions, Sonu Mittal , this week defended the government-sponsored enterprise’s proposal to acquire single-family, closed-end second mortgages amid opposition by trade groups that are worried about its impacts on the secondary market. “Six out of 10 borrowers are below a 4% mortgage rate. But they have also accumulated a good amount of equity over the last few years.

Insurance 383

Insurance Mortgage Marketing Design 383

Appraisal Buzz

MAY 23, 2024

Down Payment Resource , offering homebuyer assistance program data and solutions, recently announced an integration with ICE Mortgage Technology that embeds down payment assistance program support into Encompass. The integration helps lenders make affordable home financing opportunities more accessible while growing business and forging referral partnerships, Down Payment Resource says in a release.

Mortgage 195

Mortgage Loan Officers Lending Finance 195

Housing Wire

MAY 23, 2024

Artificial intelligence (AI)-powered real estate assistant Sidekick unveiled a partnership with South Florida ’s BeachesMLS on Thursday. The collaboration will allow 43,000 agents that serve Broward, Palm Beaches and St. Lucie counties to leverage Sidekick’s integrated datasets and workflows. The collaboration comes on the heels of Sidekick partnerships with the MIAMI Association of Realtors and the San Francisco Association of Realtors earlier in May.

Real Estate 374

Real Estate Realtors Valuation Technology 374

Appraisal Buzz

MAY 23, 2024

Lack of inventory, high home prices and rising mortgage rates slowed existing-homes sales in April. According to the National Association of Realtors (NAR), existing-home sales fell 1.9% compared with March to a seasonally adjusted annual rate of 4.14 million. Year-over-year, existing-home sales were down 1.9%. Despite a 9% month-over-month increase in inventory in April, home prices continued to increase: The median existing-home price jumped 5.7% year-over-year in April to $407,600.

Inventory 195

Inventory Realtors Housing Market Mortgage 195

Housing Wire

MAY 23, 2024

Editor in Chief Sarah Wheeler sat down with Christos Bettios, chief information officer at NFM Lending , to talk about the company’s private, proprietary GPT that is making his whole team more efficient. Bettios has been at NFM Lending for seven years and previously worked at US Bank Home Mortgages and First American Mortgage Solutions. He started his career as a developer and spent 10 years as a senior product manager at Fannie Mae.

Loan Officers 367

Loan Officers Lending Technology Development 367

Inman

MAY 23, 2024

Newly built homes available on the market rose to 480,000, representing a supply of 9.1 months at the current sales rate, up from an 8.5 month supply in March, according to U.S. Census Bureau data.

Inventory 192

Inventory Marketing Agents 192

Housing Wire

MAY 23, 2024

After nearly a year of searching, iBuyer Offerpad has a new chief financial officer. The firm announced Thursday that it has pegged Peter Knag for the role, effective June 5. “I am excited to join at such a dynamic time for the company,” Knag said in a statement. “I look forward to working with the talented team to continue to grow and diversify Offerpad’s platform offerings and drive efficiency, scale and profitability in the business.” Knag has an extensive resume, having served in sever

Finance 351

Finance Business Technology Housing Market 351

Inman

MAY 23, 2024

Find out how this California broker was inspired to start a career in real estate because of the great agents she worked with as a client.

Realty 184

Realty Real Estate Clients Agents 184

Housing Wire

MAY 23, 2024

A reverse mortgage has potential utility for a homeowner in the right situation, but loan terms must be observed closely to remain in good standing and avoid the possibility of foreclosure. This is according to a look at the reverse mortgage product category published by Newsweek. As part of its recently launched “ Newsweek Vault ” subsite, which vets financial products and provides analysis from sources judged to be financial experts, the publication assembled a series of pros and cons about re

Mortgage 329

Mortgage Law Insurance Tools 329

Inman

MAY 23, 2024

Equity Angels was launched in early 2024 by 2018 Inman Person of the Year Kenya Burrell-VanWormer, chief growth officer at NEO, and Katherine Winston, founding member and head of marketing at Plunk.

Marketing 182

Marketing Technology 182

Boston Appraisal

MAY 23, 2024

The post Preparing Your Home for an Appraisal appeared first on Boston Appraisal Services.

Appraisal 148

Appraisal 148

Inman

MAY 23, 2024

Truly engaging is an essential component in providing stellar service from first contact to the closing table. Author and trainer Bernice Ross provides a step-by-step approach to evaluating your skills.

Clients 180

Clients Agents Marketing 180

Eyes on Housing

MAY 23, 2024

A new quarterly Cost of Housing Index (CHI) highlights the burden that housing costs represent for middle and low-income families. In its inaugural release for the first quarter of 2024, CHI revealed that a typical family in the U.S. must spend 38% of its income to cover the mortgage payment on a median priced new.

Mortgage 128

Mortgage 128

Inman

MAY 23, 2024

Nimble, a software company that specializes in customer relationship management for “soloprenuers” and small business teams, has shipped a new feature to its customer accounts — email sequencing.

Business 178

Business Technology Marketing 178

Eyes on Housing

MAY 23, 2024

The missing middle construction sector includes development of medium-density housing, such as townhouses, duplexes and other small multifamily properties. The multifamily segment of the missing middle (apartments in 2- to 4-unit properties) has disappointed since the Great Recession. For the first quarter of 2023, there were just 43,000 2- to 4-unit housing unit construction starts.

Construction 125

Construction Development 125

Inman

MAY 23, 2024

Want to make great strides in your business? Jimmy Burgess believes that the answers you seek to a successful real estate practice may be simpler than you think.

Real Estate Agent 173

Real Estate Agent Real Estate Agents Business 173

BiggerPockets

MAY 23, 2024

Getting the right tenants is crucial for having a seamless landlord experience. Here are 12 questions to ask tenant references to ensure they're a good fit.

Tenants 94

Tenants Landlords Property Management 94

Inman

MAY 23, 2024

RentSpree distributes its product to empower residential agents in their work with clients who may not yet be ready to buy, and to provide them software advantages to offer investor clients or to use in their own rental portfolios.

Business 142

Business Clients Investors Agents 142

BiggerPockets

MAY 23, 2024

If you’re new to real estate investment, we know you have plenty of questions.

Real Estate 91

Real Estate Investing 91

Mortgagebroker News

MAY 23, 2024

Director discusses the value of trade shows, and meeting lenders face-to-face

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78

BiggerPockets

MAY 23, 2024

The 2024 housing market isn’t turning out how most of us thought.

Housing Market 80

Housing Market Marketing Real Estate Investors 80