Housing Wire
JULY 18, 2024
After slamming the California Association of Realtors (CAR) for a draft of its buyer representation agreement, the Consumer Federation of America (CFA) on Tuesday released its proposed criteria for evaluating buyer representation agreements. The CFA said the proposed criteria was created after the group received requests from several unnamed real estate companies.
Appraisal Buzz
JULY 18, 2024
ATTOM has released its updated monthly report on U.S. Commercial Foreclosures , revealing a continued increase in commercial foreclosures over the years, from a low of 141 in May 2020, to the current figure of 647 in June 2024. Since January 2014, ATTOM has been analyzing data, a period marked by the nation’s emergence from economic uncertainty, with commercial foreclosures numbering 740 nationwide.
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Housing Wire
JULY 18, 2024
Millennials are once again the largest group of homebuyers in the country. In some metro areas, they are buying homes at rates up to 13 times higher than other areas. A report released this week by personal finance website SmartAsset analyzed data from the U.S. Census Bureau and the Home Mortgage Disclosure Act (HMDA) across the 40 largest U.S. metro areas to determine the top markets for millennial homebuyers.
Appraisal Buzz
JULY 18, 2024
According to Fannie Mae’s most recent Home Price Index (HPI), single-family home prices increased 6.9% year-over-year during the second quarter, a pullback from the first quarter’s growth rate of 7.3%. On a quarterly basis, home prices rose a seasonally adjusted 1.3% in the first quarter of 2024, down from the revised 2.0% growth during the first quarter of 2024.
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 With construction projects becoming more complex, outdated processes are no longer sustainable.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
JULY 18, 2024
What happens when you combine a decentralized application (dApp) tokenization platform with a decentralized finance (DeFi) protocol built on real-time data? Other than an intriguing word salad, two real estate proptech startups believe it means very good things for property owners using nonfungible tokens (NFTs). Propy and Parcl announced a strategic partnership on Thursday in which they hope Parcl’s data integrations will improve the analytics for assessing real estate minted on the dApp PropyK
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Housing Wire
JULY 18, 2024
Mortgage applications to purchase new homes fell 16% month over month in June but rose 0.7% year over year, according to a report released Thursday by the Mortgage Bankers Association (MBA). The data, derived from the trade group’s survey of homebuilders, is “consistent with broader declines in single-family construction and new building permits as well as typical seasonal patterns,” according to Joel Kan, vice president and deputy chief economist at the MBA.
Real Estate News
JULY 18, 2024
A new report shows major drops in international purchases of U.S. real estate, at a time when legal efforts to restrict buyers from certain countries ramped up.
Housing Wire
JULY 18, 2024
Amid expectations that the Federal Reserve will cut benchmark interest rates in the coming months, analysts at investment banking company Jefferies anticipate that mortgage rates could reach 6.5% at the end of 2024 and 5.75% in 2025, unlocking $2.7 trillion in refinancing opportunities. “Recent economic data supports a path toward rate cuts and, therefore, a refinance rally,” Jefferies analysts Derek Sommers and John Hecht wrote in a report released Thursday.
Appraisal Buzz
JULY 18, 2024
Sagent CFO Jamie Gow Sagent has appointed bank and nonbank finance executive Jaime Gow as Chief Financial Officer. Previously, Gow served as CFO of mortgage servicer Mr. Cooper , and as Head of Banking Finance at First Horizon Bank. Gow will work out of Sagent’s largest U.S. tech hub in Dallas, Texas. “Jaime has led at companies ranging from de novo banks, to leading regional banks, to industry leaders such as Mr.
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Housing Wire
JULY 18, 2024
Fintech Sagent hired Jaime Gow, a former executive at Mr. Cooper and First Horizon Bank , as its new chief financial officer. The hiring coincided with the departure of the company’s chief technology officer, Uday Devalla. Warburg Pincus -backed Sagent highlighted Gow’s background in servicing as a reason for hiring him. That’s the exact space in the mortgage industry that the company wants to target with its software platform, Dara , which was launched in February.
Appraisal Buzz
JULY 18, 2024
In order to protect against discrimination in the appraisal process in the age of AI, six federal regulatory agencies have issued a final rule , pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act , designed to help ensure the credibility and integrity of models used in valuations for certain mortgages secured by a consumer’s principal dwelling.
Housing Wire
JULY 18, 2024
Miami -based startup Waltz Inc. launched on Wednesday to serve international investors in U.S. real estate with a fast, digital mortgage process. The company is initially working in nine states with plans to expand. “Investing in anything nowadays takes just a few clicks, unless you’re a foreign citizen investing in U.S. property,” Yuval Golan, founder and CEO of Waltz, said in a statement. “From my experiences investing globally and in the U.S., I wanted to make the proc
Real Estate News
JULY 18, 2024
Watch the conversation as Lane Hornung of zavvie and 8z explains what agents need to know about “power buying” and innovations in financing to show real value.
Housing Wire
JULY 18, 2024
A coalition of eight trade groups — including the Housing Policy Council (HPC), the Mortgage Bankers Association (MBA) and the Community Home Lenders of America (CHLA) — have requested additional time from the Consumer Financial Protection Bureau (CFPB) to comment on proposed changes to Regulation X , which implements the Real Estate Settlement and Procedures Act (RESPA).
Appraisal Buzz
JULY 18, 2024
Mortgage rates decreased for a second week as the average rate for a 30-year fell to 6.77%, down from 6.89% last week, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago at this time, the average rate for a 30-year was 6.78%. “The 30-year fixed-rate mortgage fell to its lowest level since mid-March, dropping 12 basis points from last week,” says Sam Khater, chief economist for Freddie Mac, in a statement.
Housing Wire
JULY 18, 2024
We all know that sellers hear what they want to hear and believe what they want to believe when it comes to how market conditions will impact the sale of their home. They believe their home is special and people will be knocking on the door with full price offers within days of hitting the market. When that doesn’t happen, who do they blame? The agent , of course!
Appraisal Buzz
JULY 18, 2024
According to Realtor.com’s most recent rental report , in June, median rent continued to fall, but nationwide rent are sitting just below 2022 levels, with rents also declining in all size categories. In June, rents decreased once more, with particularly significant drops in the South due to an increase in newly constructed apartments, per a Realtor.com Rental Report that was published recently.
Appraisal Buzz
JULY 18, 2024
Applications for mortgages for new home purchases plummeted 16% in June compared with May and were down 0.7% compared with June 2023, according to the Mortgage Bankers Association’s (MBA) Builder Application Survey. “Applications for new home purchases slowed in June, consistent with broader declines in single-family construction and new building permits,” says Joel Kan, vice president and deputy chief economist for the MBA, in a statement.
Housing Wire
JULY 18, 2024
Leading Real Estate Companies of the World is joining the wave of firms strengthening its leadership team. On Wednesday, the Chicago-based firm announced that it is welcoming Tripti Kasal to it leadership team. Kasal will serve in a newly created role as LeadingRE’s senior vice president of member engagement. In this role Kasal will lead LeadingRE’s U.S. membership services team, with a focus on increasing member engagement and matching members with resources from LeadingRE’s Solutions Group.
Inman
JULY 18, 2024
Is it still impolite to talk about politics? Maybe not, and social media expert Jessi Healey says talking about it might gain you more followers than you think.
Housing Wire
JULY 18, 2024
The Federal Housing Administration (FHA) this week published a new proposed policy for the Home Equity Conversion Mortgage ( HECM ) program, which would update the way debenture interest rates for HECM loans operate. The draft Mortgagee Letter (ML) “proposes updates to HUD’s calculations for the payment of debenture interest for HECM claims and establishes a process for retroactively adjusting the calculation of debenture interest for claims filed on HECMs that became due and payable on or after
Inman
JULY 18, 2024
Despite 11 months of declines, Realtor.com said the typical renter is paying $305 more monthly for an apartment compared to 2019. The greatest rent increases are in Florida and the Midwest.
Housing Wire
JULY 18, 2024
In part 2 of a wide-ranging interview with Editor in Chief Sarah Wheeler, Brooke Anderson-Tompkins talks about the right time to start implementing AI and why she’s an AI optimist. Anderson-Tompkins was president of 1st Priority Mortgage for 15 years and is a former chair of the Community Mortgage Lenders of America (now Community Home Lenders of America).
Inman
JULY 18, 2024
The attorney and broker dives into the nuances of seller concessions, steering, buyer agents' jobs, and avoiding future antitrust trouble ahead of his appearances at Inman Connect Las Vegas.
Housing Wire
JULY 18, 2024
Finance of America , the reverse mortgage industry’s leading lender, announced this week that its planned reverse stock split will take place as scheduled on July 25. The plan, initially announced last month , involves consolidating the available shares in the company into fewer, higher-priced shares. Faced with the prospect of being delisted from the New York Stock Exchange (NYSE) due to noncompliance with the exchange’s listing standard, the company sees this move as necessary to shore up its
Inman
JULY 18, 2024
Find out how this Central Florida team leader moved from a career in amusement parks to the roller coaster of real estate.
Housing Wire
JULY 18, 2024
Thing are heating up in Move Inc. ’s ongoing battle with CoStar Group. On Monday, Move (the parent company of Realtor.com ) filed a motion for a preliminary injunction in the suit it filed earlier this month against CoStar, the parent company of Realtor.com rival Homes.com , and James Kaminsky, a former Move employee who now works for Homes.com. In the complaint, Move alleges that Kaminsky stole trade secrets to help fuel the rapid growth of Homes.com.
Inman
JULY 18, 2024
With its new capabilities, the platform will allow agents and concierge coordinators to automate the generation of listing descriptions, image captions and property attributes "in minutes," the firm told Inman.
Eyes on Housing
JULY 18, 2024
The top ten builders accounted for 42.2% of all new single-family home closings in 2023, down 1.3 percentage points from 2022 (43.5%). This is the second highest share captured by the top ten builders since NAHB began tracking new single-family home closings in 1989. The share represents 280,958 closings out of 665,500 closings made in.
Inman
JULY 18, 2024
Are you spending time on things that simply don't matter to your professional growth or the growth of your business? Jimmy Burgess offers a list of things you may be doing that are counter-productive.
Empire Appraisal Group
JULY 18, 2024
Florida Takes 11 of Top 25 Fastest-Growing Cities By Garrett Phillips Miami ranked No. 2 in the U.S. News and World Report’s list of fastest-growing cities. Other cities among the top 25 include Tampa, Lakeland, Port St. Lucie and Ocala. TAMPA, Fla. – Three Tampa Bay area cities were ranked among the fastest-growing cities in the nation, according to U.S.
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