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Two former New Jersey -based mortgage loan originators have been charged with conspiracy to commit bank fraud by the U.S. Attorney’s Office, District of New Jersey according to an announcement by the U.S. Department of Justice (DOJ) and U.S. Attorney Philip Sellinger. Christopher Gallo has been noted as a top-producing loan originator, at one point being Scotsman Guide ‘s fourth-ranked LO in the country.
Insurance has been a glaring mess in California, and it’s really starting to affect the housing market. Today, I want to share some things I’m hearing from the real estate community after asking for feedback on my social channels about home and fire insurance. The goal is to give some perspective and advice to sellers […] The post The insurance crisis is affecting the housing market first appeared on Sacramento Appraisal Blog.
The rental segment has been marked by strong demand and looks to continue on this trajectory given mortgage rates that continue to hover around 7% and record property prices across many U.S. regions. In spite of some slowdown, rents have continued to appreciate, being nearly 30% higher than prior to the pandemic, with February levels up 3.5% as compared to the previous year.
Today, host Hal Humphreys chats with Jason Ferris, MAI, SRA and owner of Bell Ferris, Inc. Ferris discusses his background in the industry and his experience with Short Term Rentals. It seems like bringing up Short Term Rental valuation is the quickest way to start a fight on social media. Why is there such wild variance of opinions on how to handle these?
Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.
The Consumer Financial Protection Bureau (CFPB) on Wednesday released a new edition of its Supervisory Highlights publication, which includes the agency’s actions to combat what it calls “ junk fees charged by mortgage servicers , as well as other illegal practices.” Examinations conducted by the bureau found mortgage servicers levied charges it deems “illegal,” including prohibited property inspection fees, the issuance of “deceptive” notices to borrowers, and violations of loss-mitigation rule
Mortgage application volume decreased 2.7% during the week ended April 19, as the average rate for a 30-year fixed-rate mortgage increased to 7.24%, up from 7.13% the previous week, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Applications for refinances decreased 6% compared with the previous week but were up 3% compared with the same week one year ago.
Mortgage application volume decreased 2.7% during the week ended April 19, as the average rate for a 30-year fixed-rate mortgage increased to 7.24%, up from 7.13% the previous week, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Applications for refinances decreased 6% compared with the previous week but were up 3% compared with the same week one year ago.
Realty ONE Group International has joined six other real estate brokerages in settling the commission lawsuits. The firm announced on Wednesday that it has entered into a nationwide settlement agreement with the commission lawsuit plaintiffs. The settlement, which is still subject to court approval, will settle all claims against Realty ONE Group, its franchises and affiliated agents.
At the T3 Leadership Summit, Rich Barton discussed what’s in store for Zillow and the industry — and encouraged the audience to “resist the urge to chaos.
The U.S. Department of Housing and Urban Development (HUD) on Wednesday announced new initiatives to bolster community protections against severe heat, an issue that has become more common nationwide. “For the first time in its history, HUD published a webpage on Extreme Heat that serves as a hub highlighting actions communities can take to prepare and respond to extreme heat events and available resources to help fund climate resilience projects,” the department said.
Construction projects are high-stakes operations where even minor inefficiencies can lead to costly delays, safety concerns, and budget overruns. Managing risk in construction has always been a challenge, but as projects grow in complexity, traditional methods no longer cut it. Enter Digital Transformation - a game changer approach that replaces inefficiency with AI-powered analytics, real-time monitoring, and automated workflows to proactively manage risk.
Figure Technology Solutions , the parent company of Figure Lending LLC , named Michael Tannenbaum as its new CEO, the company announced on Tuesday. Tannenbaum will also be a member of the board of directors. Meanwhile, Mike Cagney, the company’s co-founder and previous CEO, will continue to serve as executive chairman of the company. “With its proven ability to develop cutting-edge technological solutions to streamline the HELOC lending process, Figure has cemented itself as one of the most exci
Mortgage lenders should get used to the concept of ”higher for longer” interest rates and work to bring profitability to their businesses, according to Stan Middleman, founder, president and CEO at Freedom Mortgage. ”Your interest rates are going to be higher for longer ,” he said. ”This year will look a lot like last year. Next year is going to look a lot like this year.
The court approved an April 19 request filed by the Gibson and Umpa plaintiffs to merge the lawsuits, which were both under the purview of Judge Stephen Bough.
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.
HousingWire is excited to announce this year’s Rising Stars, representing the next generation of leaders in mortgage and real estate. This year 80 honorees were selected. The Rising Stars award recognizes the emerging leaders in the industry who have demonstrated rapid career growth and an ability to lead, achieving remarkable milestones all before the age of 40.
Buyers and sellers are confused about the new rules of the road. Trainer Bernice Ross and Jeff Lobb discuss how agents can change up the conversation and add clarity and confidence.
Seniors could choose to employ home equity through a reverse mortgage or other equity-tapping product to manage a series of expenses in retirement , but when it comes to managing their tax burden , it can get more complicated. Steve Resch, vice president of retirement strategies at industry-leading lender Finance of America Reverse (FAR), told Financial Advisor that the utility can vary when it comes to tax savings.
Truv , a provider of income, employment and asset verification solutions, is now integrated with BeSmartee , a provider of point-of-sale (POS) software for mortgage lenders. The integration will automate manual verification processes and transform the mortgage experience for lenders and borrowers with easier mortgage approvals, heightened data transparency and faster closings.
Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. While the real estate industry is forever in flux, one constant is that it’s a relationship business. One of the biggest challenges for agents is finding new clients and staying top-of-mind until they are ready to buy or sell.
Biased thinking, biased analysis — a part of the appraisal process? The Appraisal Institute is starting to address some bias-related critical issues — head on. Cindy Chance, the CEO of the AI, in her recent posts noted the role of human bias as a natural phenomena of the survival of the species. She cited the […] The post Biased Unbiasedness?
Pennymac Financial Services earned a profit of $39.3 million in the first quarter of 2024, the California -based multichannel lender and servicer announced Wednesday. The company’s pretax gain in the first quarter was $43.9 million. That was less than the $38.1 million figure it posted during the same period last year but a significant improvement from the pretax loss of $54.2 million it incurred in fourth-quarter 2023.
Agent optimism over future buyer pipelines fell from 44 percent before the deal to 27 percent afterward — one of the starkest monthly shifts in sentiment that Intel has recorded in the last year.
Hilary Saunders speaks at The Gathering by HousingWire on Monday, April 22. Photo credit: AJ Canaria Hilary Saunders , the co-founder and chief broker officer at Side , sees the current challenges facing the real estate industry as yet another opportunity for brokerage models to further evolve. “I think what we are definitely going to see is a fall-off of the old way of doing things,” Saunders told attendees at HousingWire ’s The Gathering.
Each month, the trade group publicly reports the size of its ranks and other data on its official website. But as recently as this month, state-by-state and national data is nowhere to be found.
Few cities have benefited as much from the recent trend of Americans increasingly moving south as Dallas. The Dallas-Fort Worth-Arlington metro area had the largest increase in population count between 2021 and 2022 of any metro area in the country, adding more than 170,000 people , according to the U.S. Census Bureau. That’s a lot of new Texans in a state that already has three of the nation’s 10 largest cities.
Fannie Mae and MBA economists are now in agreement that mortgage rates will come down only gradually this year and next but that home price appreciation will slow.
Judge Stephen R. Bough ruled Tuesday that the Umpa and Gibson commission lawsuits can consolidate. “The Court finds that consolidation is appropriate given that the instant case and Gibson, et al. v. National Association of Realtors , et al., involve common questions of law and fact, consolidation will conserve judicial resources and promote efficiency, and consolidation will not cause undue delay, confusion, or prejudice,” Bough wrote in his ruling.
Requests for purchase loans were down 1 percent week over week and 15 percent from a year ago, according to the latest Mortgage Bankers Association survey.
Florida -based wholesale lender A&D Mortgage appointed Satish Vishwakarma to the role of servicing manager, the company announced on Tuesday. In this new role, Vishwakarma will be responsible for overseeing the day-to-day operations of the mortgage servicing department. He will ensure the successful management of mortgage servicing teams while leading efforts to streamline operations, enhance quality and reduce costs.
Demand for some of the most exclusive luxuries remains, even as the city of San Francisco itself grapples with plunging home prices and an all-time high in office vacancies.
As any professional involved in it will know, bringing new people into the fold of the reverse mortgage business can be a difficult task. Reputational challenges , the narrow focus of the product and low mortgage market penetration are just a few of the reasons why. With the right ambassador, that task is made simpler. The partner engagement program at Finance of America Reverse (FAR) aims to bring new people and professional relationships into the orbit of the nation’s top reverse mortgage lend
NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the share of new home sales backed by VA loans climbed substantially in the first quarter of 2024, while all-cash sales share fell by nearly 30%. However, the median purchase price of homes bought with cash continued to increase in.
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