Housing Wire

JUNE 13, 2024

Opendoor has partnered with nationwide multiple listing service My State MLS to equip more than 60,000 agents in each of the 50-plus markets Opendoor serves with access to the iBuyer’s cash-offer solution. My State MLS is a nationwide multiple listing service that allows members to list and search properties anywhere in the U.S. According to a news release, through the partnership, My State MLS agent members will be able to receive estimated cash offers on qualifying properties within minutes to

Sellers 429

Sellers Agents Clients Realty 429

Appraisal Buzz

JUNE 13, 2024

Homeownership remains a common aspiration for many Americans, yet it is often difficult to obtain. This is especially true for single parents, who often have less money to purchase a home than married couples. This is according to Jacob Channel , Senior Economist for LendingTree. We’ve previously discussed single-parent problems, and discovered that the majority of single mothers do not own a home.

Appraisal 418

Appraisal 418

Housing Wire

JUNE 13, 2024

Federal Reserve Chairman Jerome Powell told reporters on Wednesday that the U.S. housing situation is a “complicated one” and that “bringing inflation down” is the best thing officials can do to help. Cooling inflation will eventually allow the Fed to cut rates and alleviate the current lock-in effect , but this process will take longer than previously estimated. “The housing situation is complicated.

Inventory 414

Inventory Mortgage Sellers Housing Market 414

Appraisal Buzz

JUNE 13, 2024

This piece originally appeared in the June 2024 edition of MortgagePoint magazine, online now. Mortgage delinquency rates in early 2024 are trending upward as a result of economic pressure bouncing back from unusually low levels of the past year. The trend of increasing mortgage delinquencies for all loan types can be traced back to the emergence from the pandemic economy in 2022.

Mortgage 393

Mortgage Modernization Technology Retail 393

Housing Wire

JUNE 13, 2024

With the number of instances of wire fraud continuing to rise , many victims are turning to court to seek damages after a large portion of their life savings or business liquidity was stolen by scammers. According to a report published Thursday by wire fraud prevention firm CertifID , real estate agents , brokers and title companies are increasingly being held accountable if a consumer loses money.

Real Estate 399

Real Estate Insurance Legal Training 399

Appraisal Buzz

JUNE 13, 2024

Mortgage rates edged down for a second week, with the average rate for a 30-year fixed-rate mortgage falling to 6.95%, down from 6.99% 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 6.69%. “Mortgage rates continued to fall back this week as incoming data suggests the economy is cooling to a more sustainable level of growth,” says Sam Khater, chief economist for Freddie Mac, in a statement.

Mortgage 369

Mortgage Buyers Appraisal Marketing 369

Appraisal Buzz

JUNE 13, 2024

Recent housing reports suggest that inventory is increasing and, as a result, home prices are starting to drop in certain areas, resulting in improved affordability. But which areas are most at risk of seeing their housing markets go into a downturn as a result of shifting market conditions? A r eport from ATTOM reveals that California, New Jersey and Illinois have the highest concentrations of at-risk markets in the country.

Housing Market 366

Housing Market Marketing Home Value Inventory 366

Housing Wire

JUNE 13, 2024

According to the most recent Home Equity Conversion Mortgage (HECM) endorsement data compiled by Reverse Market Insight (RMI), Annapolis, Maryland-based South River Mortgage is the ninth-largest reverse mortgage lender in the country with 496 endorsements in the 12-month period ending May 31. After hitting milestones in recent years, including a rollout of a proprietary reverse mortgage product and transitioning from a broker to a direct lender , company president Tyler Plack is determined to co

Business 384

Business Mortgage Loan Officers Investing 384

Appraisal Buzz

JUNE 13, 2024

A new report from Redfin revealed the median U.S. home-sale price reached an all-time high of $394,000 in the four weeks ending June 9, up 4.4% year-over-year—the largest gain in roughly three months. There are indications that home-price increases may slow soon. Asking prices have leveled down, with 6.5% of house sellers lowering asking price on average, the largest percentage since November 2022.

Mortgage 259

Mortgage New Listings Sellers Housing Market 259

Housing Wire

JUNE 13, 2024

Online retail giant Amazon announced this week that it is committing an additional $1.4 billion to its Housing Equity Fund that will go toward the creation and preservation of roughly 14,000 affordable housing units across three major metropolitan areas in which it maintains a corporate presence. The funds — to be invested in the metro areas of Seattle , Nashville and Arlington, Virginia — will bring the total investment fund to $3.6 billion and 35,000 housing units since its inception in 2021,

Investing 380

Investing Retail Housing Market Finance 380

Real Estate News

JUNE 13, 2024

Buyers have more inventory to choose from, but the uptick in demand could be short-lived as the lock-in effect and price growth continue to stymie sales.

Inventory 305

Inventory Mortgage Buyers 305

Housing Wire

JUNE 13, 2024

Multichannel mortgage lender New American Funding (NAF) announced this week the relaunch of its initiative designed to recruit, educate and expand loan officer understanding around issues faced by borrowers of color as “ NAF Black Impact.” This replaces the previous branding, “NAF Dream,” to emphasize a corporate commitment to “taking direct, action-oriented steps to address credit accessibility and promote sustainable and equitable homeownership for Black individuals and communities,” the compa

Design 369

Design Bracketing Loan Officers Real Estate Agent 369

Appraisal Buzz

JUNE 13, 2024

According to findings in the Q1 2024 Verisk Remodel Index , the cost of home repairs and remodeling in Q1 of 2024 continued to increase, rising by 0.59% from the prior quarter, and just over 4% from the first quarter of 2023. Costs once again set new highs for the past decade, rising approximately 61% from Q1 of 2014. The Verisk Remodel Index tracks costs on 31 different categories of home repair, comprising over 10,000 line items, ranging from appliances to windows.

Renovations 221

Renovations Inventory Marketing Housing Market 221

Housing Wire

JUNE 13, 2024

Wells Fargo ‘s internal credit-scoring algorithm is at the center of a lawsuit that plaintiffs say resulted in more than 100,000 disparately impacted minority applicants. The lawsuit stems from a 2022 Bloomberg investigation that found Wells Fargo was the only large bank to deny more Black applicants than it accepted in 2020 during the refinancing boom.

Mortgage 358

Mortgage Tools Development Business 358

Appraisal Buzz

JUNE 13, 2024

ServiceLink VP, National Sales Executive Nate Johnson ServiceLink has named Nate Johnson as its new VP, National Sales Executive, in its Origination Division, responsible for driving client growth strategy for origination products. Johnson brings decades of experience within the industry to his new role, and has been a catalyst in generating more than $1 billion in closings as a business leader.

Housing Market 221

Housing Market Buyers Lending Investors 221

Housing Wire

JUNE 13, 2024

A judge in Arizona has approved a $3.5 million settlement agreement between Rocket Mortgage and current and former employees who alleged in a class-action-seeking lawsuit that the company did not provide sufficient overtime pay, according to court documents reviewed by HousingWire. U.S. District Court Judge Douglas L. Rayes mentioned in the decision that the agreement “was reached through arms-length negotiations with the assistance of a retired federal judge who served as a mediator.̶

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Legal Development Mortgage 329

Real Estate News

JUNE 13, 2024

Bailey, the former CEO of RE/MAX, discussed the keys to success when leading a business that is accountable to both customers and shareholders.

Real Estate 270

Real Estate Business 270

Appraisal Buzz

JUNE 13, 2024

AgentHome , a national network of independent title agents, has acquired Corinthian Title Company , Inc., a California-based provider of title insurance and escrow services for residential and commercial real estate transactions. Terms of the deal were not divulged. Corinthian, headquartered in San Diego, is a locally owned and operated title agency currently licensed to issue title insurance policies in 28 counties within the state of California.

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Insurance Real Estate Agents Business 195

Real Estate News

JUNE 13, 2024

Watch the conversation with strategist Jay Baer as he explains how to create better client outcomes by avoiding common pitfalls and “yesterday’s thinking.

Clients 232

Clients 232

Appraisal Buzz

JUNE 13, 2024

Rate-and-term refinance activity spiked 25.6% in May compared with April, as borrowers reacted to a dip in rates, according to Optimal Blue’s Market Advantage mortgage data report. The report shows that the 30-year conforming rate finished the month at 7.02% – but it bottomed out on May 15 at 6.875%. “The sharp increase in demand for rate-and-term refinances following a dip in rates indicates that homeowners with rates above 7 percent feel pinched and are sensitive to even modest interest rate m

Buyers 195

Buyers Marketing Mortgage Appraisal 195

Inman

JUNE 13, 2024

Broker Bill Kowalczuk and agent David Harris were not gone for long before realizing they missed Coldwell Banker Warburg's robust support systems. Agent Guy Hobson has also joined the firm.

Agents 181

Agents Brokerage 181

Eyes on Housing

JUNE 13, 2024

Inputs to residential construction, goods less food and energy, fell 0.09% over the month according to the most recent producer price index (PPI) report published by the U.S. Bureau of Labor Statistics. The index for inputs to residential construction, goods less food and energy, represents building materials used in residential construction. This was the first.

Construction 157

Construction 157

Inman

JUNE 13, 2024

The luxury broker has come a long way from her start in a small town in North Carolina. From property manager to agent to broker-owner and reality TV star, the journey has blessed her with knowledge.

Property Management 167

Property Management Agents Realty Tools 167

Appraiserblogs

JUNE 13, 2024

Reforming the appraisal review process is essential to maintaining the integrity of the real estate market and protecting consumers and homeowners. In mortgage financing, the appraisal process is often seen as the foundation of accurate property valuation and market stability. However, beneath this façade of reliability lies a troubling rift: while real estate appraisers must navigate stringent licensing protocols and scrutiny, the individuals reviewing the appraisals often operate with minimal

Mortgage Appraisal 129

Mortgage Appraisal Appraisal Mortgage Valuation 129

Inman

JUNE 13, 2024

The one-two punch of government action and private sector innovation is the right formula for fixing the affordable housing mess, which has grown into a global epidemic, writes Brad Inman.

Government 158

Government Brokerage Marketing 158

Empire Appraisal Group

JUNE 13, 2024

Where Are the Most Expensive Homes in Florida? By Elena Cox Some of the priciest home in Florida are located in the south, ranging from $1 million to nearly $10 million. Take a look at where they are. MIAMI — Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value.

Home Value 78

Home Value Investing Buyers Mortgage 78

Inman

JUNE 13, 2024

The new platform, Corcoran Copilot, is integrated with Corcoran's listing databases and will initially help agents with developing materials like listing descriptions and video scripts.

Agents 158

Agents Marketing Development Technology 158

BiggerPockets

JUNE 13, 2024

Learning the art of rent collection is crucial for running a successful rental business. Implementing efficient, effective rent collection strategies can minimize stress, improve cash flow, and help maintain a positive relationship with your tenants.

Tenants 88

Tenants Business Property Management Landlords 88

Inman

JUNE 13, 2024

Key Fed inflation metric expected to drop June 28 following unexpected decline in May wholesale prices and jump in jobless claims to highest level since August 2023.

Mortgage 147

Mortgage Marketing 147

Lamacchia Realty

JUNE 13, 2024

We are thrilled to announce that Briarwood Real Estate of Easton, Massachusetts has joined Lamacchia Realty. Briarwood Real Estate has been ranked as the #1 company in Northern New England for 11 consecutive years by their previous franchise for providing top tier services to South Easton, Brockton and Boston Metro South. Anthony Lamacchia, along with the Lamacchia Realty leadership team, are excited to be bringing on this successful and well-respected group of REALTORS® as well as opening a bra

Realty 74

Realty Real Estate Realtors Agents 74

Inman

JUNE 13, 2024

Find out how this real estate broker's son carved out his own place in the New York real estate landscape "through bootstrapping and dedication.

Real Estate 149

Real Estate Brokerage 149

JMV Lending

JUNE 13, 2024

An appraiser came in $9,000 over contract price last week on a $297,000 Texas purchase – so woohoo, right? Wrong. It almost killed our deal. The post When High Appraisals Hurt; Fannie & Freddie Not The Same appeared first on JVM Lending.

Appraisal 60

Appraisal Contracts Lending 60

Inman

JUNE 13, 2024

Nearly 30 alleged victims have come forward in the last week. Reddit users in New York and Miami also claimed that the brothers' violence against women had been "an open secret" for years.

Agents 137

Agents 137

BiggerPockets

JUNE 13, 2024

Real estate is a people business. You could buy several rental properties, but without the right people in the right roles, you’re going to be swimming upstream.

Real Estate 60

Real Estate Business 60