Housing Wire
SEPTEMBER 23, 2024
Seller repurchases of Freddie Mac mortgages rose by $430 million in the second quarter of 2024, a 29.1% increase from the first quarter, according to an analysis of public filings by Inside Mortgage Finance. By contrast, sellers of loans through fellow government-sponsored enterprise (GSE) Fannie Mae repurchased $268.5 million in noncompliant loans during the same period, a 27.7% decline from Q1 2024.
Appraisal Buzz
SEPTEMBER 23, 2024
With the 2024 Five Star Conference officially kicking off Tuesday at the Omni Hotel in Dallas , attendees got a jump-start on the festivities Monday by taking advantage of an array of educational opportunities presented by the Five Star Institut e. The all-day Broker Master Class got things underway, providing information needed to thrive as a broker in today’s market.
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Housing Wire
SEPTEMBER 23, 2024
In the real estate industry, referral fees have become a golden goose that stifles innovation, inflates the value chain, and ultimately harms both consumers and agents. Despite their prevalence, the current system is ripe for reexamination. The referral fee conundrum Referral fees are a familiar practice in real estate. Suppose someone with a real estate license identifies a potential homebuyer or seller.
Appraisal Buzz
SEPTEMBER 23, 2024
This article is written by Brent Bowen – author, CE instructor, and Chief Appraiser at Texas Valuation Professionals, Inc. His training webinar on Market Indexing for Appraisers: How to Master Market Condition Adjustments is coming up next Thursday, October 3rd. Click here to register. At breakfast this morning I noticed two things: 1) peanut butter is delicious, and 2) it can be a sticky mess.
Housing Wire
SEPTEMBER 23, 2024
A former regional operations manager at CrossCountry Mortgage (CCM) is suing the company over allegations of age discrimination and wrongful termination for her refusal to participate in illegal activities. Penny Smith, 61, filed the lawsuit in early September in a district court in Pennsylvania. She alleges violations of the Age Discrimination in Employment Act, the state’s Human Relations Act and common law.
Real Estate News
SEPTEMBER 23, 2024
A U.S. District Court judge has denied Move’s request for a preliminary injunction and questioned claims of “irreparable harm” to Realtor.com.
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Real Estate News
SEPTEMBER 23, 2024
Housing issues have made their way into presidential politics, but federal policies are unlikely to make a dent in the undersupply in the short-term.
Housing Wire
SEPTEMBER 23, 2024
While many brokerages have made the decision in recent weeks to settle the commission lawsuits , white-label brokerage Side is taking a different tack. On Friday, the firm filed a motion to dismiss the QJ Team copycat commission lawsuit. The suit was filed in Texas in November 2023, roughly two weeks after the jury verdict in the Sitzer/Burnett suit was issued.
Appraisal Buzz
SEPTEMBER 23, 2024
During this week’s Five Star Conference and Expo , set for Tuesday-Thursday, September 24-26 at the Omni Hotel in Dallas, the Five Star Institute will continue its tradition of recognizing and honoring the extraordinary accomplishments of our industry’s women executives. Each year, industry colleagues nominate their peers across five categories, and those nominees are then narrowed down further.
Housing Wire
SEPTEMBER 23, 2024
The Real Brokerage has expanded its footprint into the Richmond, Virginia , area. Nicole Reed Real Estate & Associates is joining Real, bringing an eight-agent team that serves not only Richmond but the Virginia markets of Fredericksburg, Charlottesville and Hampton Roads, in addition to Atlanta. Nicole Reed leads the team, which since 2020 has sold more than 300 homes with a total value of $80 million.
Appraisal Buzz
SEPTEMBER 23, 2024
The U.S. Department of Housing & Urban Development (HUD) announced more than $87 million for public housing agencies (PHAs) to evaluate and reduce residential health hazards in public housing, including lead-based paint, carbon monoxide, mold, radon, and fire safety. Through the Capital Fund Housing-Related Hazards (HRH) and Lead-Based Paint (LBP) Capital Fund programs , HUD is awarding 14 awards totaling $47.7 million under LBP, and 22 awards totaling $40 million under HRH.
Housing Wire
SEPTEMBER 23, 2024
California -based mortgage lender loanDepot has hired military advocate Bryan Bergjans as part of an effort to boost its lending capacity in the U.S. Department of Veterans Affairs (VA) space. Bergjans joined the company this month as its national director of military growth and strategy. Before that, Bergjans spent eight years at Caliber Home Loans , including stints as national director of military and veteran lending and as head of retail business development.
Appraisal Buzz
SEPTEMBER 23, 2024
New research from Zillow Rentals finds that renters are rethinking what they want and need in a home, looking beyond buildings with traditional amenities, in favor of those with features and services that better suit their lifestyle and budget. Zillow’s newest analysis found that listings with a turfed pet area, coworking space or community happy hours are drawing more interest than listings with typical luxury amenities such as a fitness center, pool, and business center.
Housing Wire
SEPTEMBER 23, 2024
San Diego-based Smartfi Home Loans , which is primarily active as a wholesale lender in the reverse mortgage space and is actively building a retail division that offers reverse mortgage products, has hired industry veteran Martin Lenoir as its new chief marketing officer. Lenoir most recently served as CMO at American Advisors Group (AAG), the industry’s former leading lender prior to its acquisition last year by Finance of America (FOA).
Inman
SEPTEMBER 23, 2024
California District Judge George H. Wu declined Move's preliminary injunction request against CoStar on Monday, stating the portal failed to prove the risk of "imminent, irreparable harm.
Housing Wire
SEPTEMBER 23, 2024
Los Angeles area-based mortgage lender Premier Plus Lending announced last week that it is expanding into the senior-focused home equity market with a new division, Retirement Mortgage Solutions , which will include reverse mortgages and other home equity-based lending instruments. “The new division focuses on the needs of retired and elderly homeowners who wish to benefit from their property’s equity ,” the company said in its announcement.
Appraisal Buzz
SEPTEMBER 23, 2024
Dark Matter Technologies has added a new loan origination system to its lineup: The NOVA LOS. The NOVA LOS provides a reliable, cost-effective solution with minimal administrative overhead that is ideal for smaller lenders, the company says in a release. Dark Matter claims it is the first company to offer two distinct LOS product offerings to distinct customer bases.
Housing Wire
SEPTEMBER 23, 2024
Mortgage technology platform provider Dark Matter Technologies announced on Monday that it has added a second loan origination system (LOS) — NOVA — to its product lineup. NOVA joins current LOS Empower, and both offerings will aim to offer distinct options for a wider range of mortgage lenders, according to the announcement. “Adopting a dual-product strategy underscores Dark Matter’s commitment to providing innovative solutions and consultative services for lenders of all sizes,” the company ex
Appraisal Buzz
SEPTEMBER 23, 2024
The share of mortgages in forbearance increased to 0.31% in August, up from 0.27% in July, according to the Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey. The MBA estimates that 155,000 homeowners were in forbearance plans as of the end of August. The share of Fannie Mae and Freddie Mac loans in forbearance increased 1 basis point to 0.13% in August.
Housing Wire
SEPTEMBER 23, 2024
CoStar Group has taken the win in the latest round of the battle between the Homes.com parent company and Move , the parent company of Realtor.com. In a tentative ruling released Monday, Judge George H. Wu of the U.S. District Court for the Central District of California denied Move’s motion for preliminary injunction and limited expedited discovery in its trade secret lawsuit against CoStar.
Appraisal Buzz
SEPTEMBER 23, 2024
U.S. Navy Veteran and VA lending powerhouse Bryan Bergjans has joined loanDepot as national director of military growth and strategy. Bergjans, a highly respected national advocate for the military community, is a dynamic mortgage industry leader with nearly two decades of military experience and an abiding passion for serving the active-duty military and Veteran community.
Inman
SEPTEMBER 23, 2024
The American Real Estate Association's call to end NAR's pocket rule has drawn more than 2,000 signatures since Friday, according to group co-founder Jason Haber, a Compass agent.
Appraisal Buzz
SEPTEMBER 23, 2024
The rate of defects in mortgage loans post closing increased 3.27% to 1.58% in the first quarter, ending five quarters of decline, according to ACES’ Mortgage QC Q1 Industry Trends Report. The highest rate of defects fell into the report’s Income/Employment category. However, ACES notes that there was a significant quarter-over-quarter improvement in this category.
Inman
SEPTEMBER 23, 2024
Sydney-based News Corp subsidiary REA Group has made a third bid for UK portal Rightmove. The company offered $8.1 billion for Rightmove on Monday — a 10 percent increase from its first offer.
Eyes on Housing
SEPTEMBER 23, 2024
On average, 40% of builders’ single-family home sales so far in 2024 have been made to first-time home buyers, according to the most recent NAHB/Wells Fargo Housing Market Index survey (HMI). That share has doubled since 2016, when only 19% of builders’ sales went to first-time buyers. Our limited time-series on this topic in the.
Inman
SEPTEMBER 23, 2024
Apparent scammers attempted to use a video generated using artificial intelligence to carry out the sale of a plot of land before the fraud was uncovered at the closing.
Appraisal Partners Blog
SEPTEMBER 23, 2024
Get an accurate home value with a Comparative Market Analysis (CMA). Appraisal Partners compares recent sales, active listings, and market trends to help you set a competitive price. Request your CMA online today for a quick and affordable property evaluation.
Inman
SEPTEMBER 23, 2024
It will take more than recent rate cuts for a recovery in home sales to gain traction, a new analysis of market data and economic forecasts suggests. Intel explores what's at stake for the fall market.
Eyes on Housing
SEPTEMBER 23, 2024
In 2023, the most common number of bedrooms in newly-built single-family homes continued to be three at a 45.7% share. This share is up almost three percentage points from 42.8% in 2022. The second highest share was single-family homes with four bedrooms at 33.1%, followed by homes with two bedrooms or less at 11.5% and.
Inman
SEPTEMBER 23, 2024
The new platform, which Serhant likened to "Instacart for salespeople," allows agents to request upwards of a dozen workflows. The tool begins completing requests within minutes with human advisor oversight.
BiggerPockets
SEPTEMBER 23, 2024
There is generally a positive relationship between income growth and price appreciation in cities (correlation varies by city).
Inman
SEPTEMBER 23, 2024
The PartnerUp Revenue Share program will give agents a cut of Side's profit if they refer and mentor other agents. The program was one of several announcements the company made Monday.
BiggerPockets
SEPTEMBER 23, 2024
The 2024 Baselane Real Estate Investor Survey reveals optimism among investors despite rising costs.
Inman
SEPTEMBER 23, 2024
Led by CEO Eddie Garcia, the national firm born out of Realty of Chicago already has over 2,000 agents who represent more than $5 billion in sales volume. Its founders also have big plans for expansion and, eventually, an IPO.
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