Housing Wire
JULY 12, 2024
A survey of mortgage default servicing leaders revealed that foreclosures are expected to rise slowly during the second half of 2024, while ample amounts of home equity should keep many properties in loss mitigation from moving into foreclosure status. Auction.com , a marketplace for distressed home sales, released its 2024 Seller Insights report on Friday.
Appraisal Buzz
JULY 12, 2024
The Federal Housing Finance Agency (FHFA) has announced a set of required tenant protections for multifamily properties financed by Fannie Mae and Freddie Mac (the GSEs). These new protections were brought about due to the FHFA’s ongoing engagement with market participants and key stakeholders on tenant issues, and represents the first time that tenant protections will be a standard component of GSE multifamily financing.
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Housing Wire
JULY 12, 2024
The California Association of Realtors (CAR) evidently wants no part of the Department of Justice. The association announced on Wednesday that it will release new and updated forms after a delay caused by the DOJ launching a formal inquiry into CAR at the end of June. The DOJ expressed concerns about possible loopholes the forms might contain, which could allow agents to skirt new rules implemented as part of the National Association of Realtors’ (NAR) antitrust settlement.
Appraisal Buzz
JULY 12, 2024
According to new Redfin research , a buyer on a $3,000 monthly budget may purchase a $447,750 house with a 6.85% mortgage rate, which is the daily average as of July 11. Since mortgage rates peaked five months ago in April, when they could have purchased a $425,500 property at an average rate of 7.5%, the buyer’s purchasing power has increased by $22,500.
Housing Wire
JULY 12, 2024
Editor in Chief Sarah Wheeler sat down with Brooke Anderson-Tompkins to talk about responsible AI and the scope of implementing AI in your business. 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). She is now founder and CEO of Bridge AIvisory and will be a speaker at HousingWire’s AI Summit.
Appraisal Buzz
JULY 12, 2024
Over the past few years, investors have reduced their homebuying activity, but their activity has continued to outpace the market as a whole. Consequently, even though investors are buying fewer homes, their percentage has increased—according to a new Realtor.com study. Investor participation in home purchases decreased from 13.8% in 2022 to 13.1% in 2023.
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Appraisal Buzz
JULY 12, 2024
Waterstone Mortgage Corporation VP of Accounting & Finance Jim Harper Pewaukee, Wisconsin-based national mortgage lender Waterstone Mortgage Corporation has named Jim Harper as the company’s new VP of Accounting & Finance, bringing more than 25 years of experience in the financial services industry to the position. Founded in 2000, the company is a wholly-owned subsidiary of WaterStone Bank SSB, which, in turn, is a wholly-owned subsidiary of Waterstone Financial Inc., and currently lend
Housing Wire
JULY 12, 2024
Many of the norms and habits that followed the pandemic have led some to question whether younger generations, Generation Z in particular, will still see homeownership as the American dream. This worry has been supported by the rising trend of the digital nomad , the fact that more Americans are still living with their parents during their twenties , and the market challenges of low inventory and affordability since the pandemic.
Appraisal Buzz
JULY 12, 2024
SingleSource CEO Brian Cullen This piece originally appeared in the July 2024 edition of MortgagePoint magazine, online now. Brian Cullen is CEO and Co-Founder of SingleSource (founded in 2000), a provider of property services supporting the U.S. housing industry. Brian’s responsibilities include daily oversight of all aspects of the company as well as various strategic sales and marketing initiatives.
Housing Wire
JULY 12, 2024
Wells Fargo , JPMorgan Chase and Citi opened the second-quarter earnings season in the mortgage space on Friday by showing strong increases in sales volumes from April to June compared to the previous quarter. But it was not enough to bring home loan originations to year-ago levels. Among the three depositories, JPMorgan was the leader in mortgage production with $10.7 billion volume in Q2 2024, up 62% quarter over quarter but down 4% year over year.
Real Estate News
JULY 12, 2024
The typical agent had fewer transactions and less income last year, NAR found, but that’s not stopping newcomers from joining — and old pros are doing well.
Housing Wire
JULY 12, 2024
The real estate industry is watching with bated breath to see what happens to multiple listing services in the wake of the National Association of Realtors ‘ (NAR) antitrust settlement. Realtor associations in Florida may be providing an answer. Four associations with MLSs that serve clients along the northeast coast of Florida have reached a data sharing agreement that will give consumers access to listings from all four MLSs through their native systems.
Real Estate News
JULY 12, 2024
So much for that housing market recovery everyone was expecting. Builders and boomers could provide bright spots, but what about the NAR settlement?
Housing Wire
JULY 12, 2024
While a lot of the conversation regarding the 2024 presidential election is focused on the historically high ages of the two expected major party candidates, the aging U.S. workforce often faces doubts about their own abilities that are “crudely conflating old age with physical and cognitive capacity.” This is according to a recent NextAvenue column co-written by two aging experts: Robert Espinoza, CEO at the National Skills Coalition and a fellow at the Brookings Institution ; and Leanne Clark-
Real Estate News
JULY 12, 2024
Settlement details and dates have been set for Compass, Real, Douglas Elliman, Realty One and @properties, but NAR hit a roadblock in its fight with the DOJ.
Housing Wire
JULY 12, 2024
Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. Whether you live in the bucolic pastures of western Massachusetts, downtown Boston or the shores of Cape Cod, the Commonwealth of Massachusetts offers lucrative opportunities to buy and sell unique properties.
Appraisal Buzz
JULY 12, 2024
Embrace Home Loans reports that loan officer Patrick Holland surpassed $1 billion in career loan originations earlier this month. Holland, who has been with Embrace since 2010, manages the Fairfax, Virginia branch and also serves as a company vice president. Holland is the top producing originator at Embrace and has been among the top one percent of mortgage originators nationwide for the past 10 years.
Housing Wire
JULY 12, 2024
Former reverse mortgage lender James B. Nutter & Co. , aka Nutter Home Loans , recently scored what an attorney has characterized as a win in a case brought against it by the U.S. Department of Justice (DOJ). The DOJ initially sued Nutter in September 2020 in a federal court in Missouri under the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA) of 1989 and the False Claims Act (FCA).
Appraisal Buzz
JULY 12, 2024
A total of 177,431 U.S. properties saw foreclosure filings — default notices, scheduled auctions or bank repossessions — in the first six months of 2024, according to ATTOM. That’s down 4.4% compared with the first half of 2023 but up 7.8% compared with the first half of 2022. “In contrast to the first half of 2023, foreclosure activity across the United States experienced a decline in the first half of 2024,” says Rob Barber, CEO for ATTOM, in the firm’s Midyear 2024 U.S.
Real Estate News
JULY 12, 2024
The California association has been the subject of a DOJ inquiry and a scathing CFA report. Updates released this week may allay some of those concerns.
Appraisal Buzz
JULY 12, 2024
Carrington Mortgage Services is introducing Section 184 Loans for Native Americans for its retail lending customers. “The Section 184 Loan is a great product, in part because the costs are low when compared to other loan programs,” says Greg Austin, executive vice president, lending, for Carrington Mortgage Services, in a release. “They’re becoming more and more popular as Native Americans realize there’s a specific product out there designed for them – especially on tribal land.
Inman
JULY 12, 2024
The California Association of Realtors says even though offers of compensation among brokers remain legal, members and their clients should not rely on "historically common practices.
Eyes on Housing
JULY 12, 2024
Inputs to residential construction, goods less food and energy, rose 0.19% in the month of June 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.
Inman
JULY 12, 2024
Stay ahead of the market with Chris Pollinger's top 6 luxury real estate trends of 2024. Learn what luxury clients are seeking and how to cater to their discerning taste.
BiggerPockets
JULY 12, 2024
New laws in California, New York, and elsewhere could eliminate the former red flags that landlords may have used to disqualify potential renters.
Inman
JULY 12, 2024
The Appraisal Foundation will establish $1.22 million scholarship fund to help aspiring appraisers navigate "an alternative, more inclusive path" for fulfilling experience requirements that are said to have contributed to a lack of diversity.
BiggerPockets
JULY 12, 2024
Good real estate investors know that diversification is important. These five alternative investments are great ways to diversify.
Inman
JULY 12, 2024
About 80 percent of business owners fall into the trap of using personal credit and financial resources to run their business. Trainer Bernice Ross shares expert strategies for getting your finances in order.
Lamacchia Realty
JULY 12, 2024
Thursday, July 11, 2024- Banker & Tradesman published an article highlighting Lamacchia Realty’s acquisition of Berkshire Dream Home, previously owned and operated by Andy and Sarah Perenick. To read the article, “Lamacchia Realty Buys Berkshire Dream Home, click here. The post Banker & Tradesman Features Lamacchia Realty’s Acquisition of Berkshire Dream Home appeared first on Lamacchia Realty.
Inman
JULY 12, 2024
Looking for a quick catch-up on the buzziest stories of the week? Here’s Inman Top 5, the most essential stories, according to Inman readers.
Mortgagebroker News
JULY 12, 2024
Move will allow the company to offer and issues up to $250m of shares and securities
Inman
JULY 12, 2024
Creating leverage through technology has never been easier, Jimmy Burgess writes. Check out his list of hot apps to make this summer sizzle for your business.
Mortgagebroker News
JULY 12, 2024
Homeowners appear to be increasingly looking around for the best option
Inman
JULY 12, 2024
The Golden I Club recognizes excellence in luxury real estate, and this year's finalists span from coast to coast. Winners will be honored at Luxury Connect, July. 29-30, 2024.
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