Housing Wire

MAY 7, 2024

The official magazine for the National Association of Realtors (NAR) recently touched on the topic of reverse mortgages, mentioning products such as the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) and addressing topics like the desires of baby boomers to age in place in their homes. Describing reverse mortgages as originating in 1961 before coming to greater prominence through the establishment of the HECM program during the Reagan administration, one of two recent NAR articles dea

Mortgage 456

Mortgage Real Estate Agent Inventory Housing Market 456

Appraisal Buzz

MAY 7, 2024

Strong home price growth – propelled by lack of inventory – pushed U.S. mortgage holders’ tappable equity to a record $11 trillion in March, according to ICE Mortgage Technology’s Mortgage Monitor report. Though the inventory situation has improved slightly, a continuing deficit of homes for sale this spring is helping prices remain resilient, ICE says.

Inventory 370

Inventory Lending Mortgage Appraisal 370

Housing Wire

MAY 7, 2024

With a 67% annual increase in agent count to 16,680 agents during the first quarter of 2024 , it is no surprise that The Real Brokerage also recorded an 86% annual increase in revenue to nearly $201 million. The uptick in agent count contributed to a 74% yearly jump in transaction count to 19,032 sides, good for a total sales volume of $7.5 billion and an 88% year-over-year increase.

Agents 456

Agents Brokerage Training Business 456

Real Estate News

MAY 7, 2024

The company remains on a rapid-growth trajectory, but net losses also increased this quarter, largely due to a recent commissions lawsuit settlement.

Brokerage 261

Brokerage Agents 261

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 With construction projects becoming more complex, outdated processes are no longer sustainable.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.

Construction

Housing Wire

MAY 7, 2024

Recent data from Inside Mortgage Finance shows a significant leap in broker market share, jumping to 24.3% in Q4 2023, the highest number we’ve seen since 2009. This is a true testament to the care, commitment and passion brokers across the country have for their borrowers. The big question is, what caused this increase? First and foremost, there has been a noticeable shift in consumer behavior.

Retail 454

Retail Marketing Loan Officers Government 454

Housing Wire

MAY 7, 2024

Mortgage rates eased slightly last week after a cooler-than-expected jobs report. Additionally, the 10-year Treasury yield fell after Friday’s jobs report. HousingWire’s Mortgage Rates Center showed the average 30-year fixed rate for conventional loans at 7.51% on Tuesday, slightly below the rate of 7.57% one week ago. At the same time one year ago, the average rate was 6.54%.

Marketing 434

Marketing Mortgage Inventory 434

Real Estate News

MAY 7, 2024

Even as net losses increase, Redfin’s CEO says the company is in a good place: “When you give people a better deal, they actually beat a path to your door.

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Housing Wire

MAY 7, 2024

U.S. single-family home prices continued their upward trajectory in March, marking the 146th consecutive month of annualized gains, CoreLogic reported. Prices rose by 1.2% compared to February 2024 and by 5.3% compared to March 2023, according to the company’s home price index released Tuesday. Over the next 12 months, CoreLogic projects year-over-year home price gains to range between 3.7% and 5.6%.

Inventory 404

Inventory Insurance Buyers Mortgage 404

Appraisal Buzz

MAY 7, 2024

In the current economic climate, borrowers and lenders alike are afflicted by rising inflation, elevated interest rates and changing employment patterns. Just as borrowers need to adapt to unpredictable circumstances, lenders must continue to assess risk prudently and tailor their offerings to meet the evolving needs of borrowers. As of November 2023, 62% of Americans lived paycheck to paycheck.

Transportation 195

Transportation Lending Design Appraisal 195

Advertiser: Trellis

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.

Real Estate

Housing Wire

MAY 7, 2024

Las Vegas -based housing technology startup BOXABL on Tuesday announced that it has received approval to begin selling a factory-built accessory dwelling unit (ADU) in California , which could provide more options in a state strapped for affordable housing options. The company’s “Casita” product is a 361-square-foot home with a full kitchen, bathroom, living area and sleeping area.

Construction 401

Construction Tenants Design Finance 401

Appraisal Buzz

MAY 7, 2024

Steven Winokur has joined Carrington Mortgage Services as vice president, marketing, third-party origination. Winokur has established a reputation as a non-QM virtuoso. Previously, he was with non-QM lender Angel Oak Lending, where he served as chief marketing officer. Winokur’s significant expertise in marketing strategy, brand development, marketing communications and digital marketing is expected to quickly build on existing marketplace momentum for Carrington’s diverse non-QM offerings.

Marketing 195

Marketing Mortgage Lending Development 195

Housing Wire

MAY 7, 2024

Finance of America Companies (FOA), which controls the outgoing brands Finance of America Reverse (FAR) and American Advisors Group (AAG), recorded a net loss under generally accepted accounting principles (GAAP) of $16 million in Q1 2024 and an adjusted net loss of $7 million for the quarter, according to a recently released earnings report. Total revenues at the company dropped sharply from $276 million in Q4 2023 to $75 million in Q1 2024.

Finance 389

Finance Modernization Mortgage Agents 389

Appraisal Buzz

MAY 7, 2024

Monterra Credit Union a full-service financial institution serving members throughout San Mateo County, Calif., the City of Palo Alto and the San Francisco Bay Area, has selected the Empower loan origination system (LOS) from Dark Matter Technologies for mortgage loan, home-equity loan and home-equity line of credit (HELOC) originations. One of California’s top 50 credit union lenders by mortgage loan volume, Monterra CU attributed its selection of the Empower LOS to the origination system’s sel

Business 195

Business Technology Mortgage Appraisal 195

Housing Wire

MAY 7, 2024

Mortgage capital markets tech firm Polly announced on Tuesday that it has launched “Polly/AI,” which integrates artificial intelligence (AI) technology into the newest version of its product and pricing engine (PPE) and includes a “co-pilot” for loan officers that will “process, interpret, and recommend a range of outcome-driven results.” The PPE system is native to the cloud and is described by the company as “commercially scalable” through a series of customizable options.

Loan Officers 373

Loan Officers Design Technology Mortgage 373

Appraisal Buzz

MAY 7, 2024

Mortgage credit availability was basically flat in April, rising just 0.1% compared with March to reach a score of 94.0 on the Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index (MCAI), which was benchmarked to 100 in March 2012. Mortgage credit availability for conventional loans increased 0.3%, while credit availability for government loans was flat.

Mortgage 195

Mortgage Government Appraisal 195

Housing Wire

MAY 7, 2024

Redfin showcased pockets of growth in the first quarter of 2024 despite challenging housing market conditions. The brokerage posted revenue of $225.5 million, an increase of 5% compared to the first quarter of 2023. But it also reported a net loss of $66.8 million, up from a net loss of $60.8 million in Q1 2023 and well above its $23 million loss in Q4 2023.

Marketing 360

Marketing Brokerage Advertising Agents 360

Inman

MAY 7, 2024

Realtor.com CEO Damian Eales took to the podium on Monday at the MLS Forum of the Realtors Legislative Meetings to refute rival CoStar's earlier claims about Homes.com's growing traffic.

Realtors 182

Realtors Technology 182

Housing Wire

MAY 7, 2024

Flagstar Bank has made changes to its third-party origination (TPO) channel leadership. Industry veteran John Gibson is leaving the company to pursue other opportunities, and he will be replaced by Rich Hoffman as senior vice president and head of TPO lending. Hoffman has spent more than 30 years in mortgage banking, 22 of them at Flagstar, where he started as an account executive.

Lending 358

Lending Finance Clients Investing 358

Inman

MAY 7, 2024

Questions of agency, agreements and compensation are on the line. Do you have the information you need to move forward now?

Contracts 178

Contracts Buyers Brokerage Agents 178

Housing Wire

MAY 7, 2024

Carrington Mortgage Services (CMS) hired Steven Winokur to serve as vice president of marketing for third-party originations (TPO), the company announced Tuesday. In this new role, Winokur will work to increase the company’s emphasis on diverse forms of nonqualified mortgage (non-QM) educational resources.Prior to joining CMS, Winokur served as chief marketing officer at Angel Oak Lending and was a 2022 HousingWire Marketing Leader.

Marketing 344

Marketing Lending Retail Investing 344

Inman

MAY 7, 2024

Real estate’s new era is upon us. At Inman Connect Las Vegas in July, we’re bringing together real estate’s most trusted voices to cut through the noise and give our community the information and tools it needs to succeed moving forward.

Tools 175

Tools 175

Appraiserblogs

MAY 7, 2024

A colleague recently shared an important heads up regarding Fannie Mae and Freddie Mac’s plans to implement photo recognition AI to analyze appraisal photos. This technology can scan a single photo and extract over 100 data points related to quality, condition, and repairs. For example, it can identify flooring types, appliance models, and even assess light levels in a room.

Appraisal 158

Appraisal Modernization Technology Lending 158

Inman

MAY 7, 2024

The Real Brokerage reported revenue of $200.7 million in the first quarter of 2024 as gross profit soared to $20.8 million, according to Q1 earnings data released Tuesday morning.

Brokerage 174

Brokerage Agents 174

Eyes on Housing

MAY 7, 2024

According to the Federal Reserve Board’s April 2024 Senior Loan Officer Opinion Survey (SLOOS), lending standards loosened further for all commercial real estate (CRE) loan categories and residential real estate (RRE) categories in the first quarter of 2024. While the Federal Reserve left the federal funds rate unchanged during their last meeting, demand for RRE and CRE.

Lending 120

Lending Loan Officers Real Estate Finance 120

Inman

MAY 7, 2024

Realtors and buyers are both confused right now, writes mega-team leader Carl Medford. To help buyers sort out the mess, here are our top 10 answers for buyer questions.

Buyers 168

Buyers Realtors Tools Brokerage 168

BiggerPockets

MAY 7, 2024

There’s one way to invest in real estate that’s cheaper, easier, and more efficient than almost any other strategy.

Real Estate 89

Real Estate Investing Mortgage 89

Inman

MAY 7, 2024

Enviable weather, ocean views and a lengthy list of landmark tourist destinations have made Florida a treasure chest for short-term rental investors. A Clever Real Estate market analysis published on Tuesday revealed strong property values, robust population growth, and year-round tourist demand have made Tampa, Orlando, Jacksonville and Miami top-tier cities for short-term rentals on Airbnb and other platforms.

Investors 167

Investors Real Estate Marketing Investing 167

GoForrmz

MAY 7, 2024

How digital forms are transforming the construction safety space As we celebrate Construction Safety Week, it's important to recognize how technology is reshaping how construction companies approach safety. One area specifically that’s been making strides in improving site safety is digital forms. GoFormz has been helping customers digitize their construction forms to streamline everyday processes and improve safety measures.

Construction 88

Construction Inspection Technology Contracts 88

Inman

MAY 7, 2024

Whether it’s the liquidity of REITs, the adventurous potential of international markets, reliable income from self-storage, or the traditional appeal of residential rentals, Victoria Kennedy writes, each component adds a unique layer of security and opportunity to your investment strategy.

Investing 159

Investing Real Estate Marketing Agents 159

Mortgagebroker News

MAY 7, 2024

Crown corporation delivers affordable units amid rising rates and labor shortages

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Inman

MAY 7, 2024

In addition to $15 million in direct costs, loanDepot says it lost an additional $22 million in revenue while systems were down, contributing to $72 million net loss.

Mortgage 159

Mortgage 159

Mortgagebroker News

MAY 7, 2024

Find out what it took to become the industry's best…

Mortgage 75

Mortgage 75