Housing Wire
JULY 16, 2024
President Joe Biden released a legislative proposal on Tuesday that’s rankling the real estate industry — nationwide rent control. Biden’s new plan would cap annual rent hikes at 5% for two years for landlords who manage 50 or more rental units, which the administration said would cover 20 million units, or roughly half of all rental units in the country.
Appraisal Buzz
JULY 16, 2024
This piece originally appeared in the July 2024 edition of MortgagePoint magazine, online now. The popularity of manufactured housing has ebbed and flowed over the last several decades, after striking an all-time high on shipments in the early 1970s. Since taking a dip in 2009, there has been a slow, but steady climb with more than 100,000 manufactured homes shipped in 2021, and a post-recession high reached in 2022 with 112,000 manufactured homes shipped, according to a 2023 report by the Joi
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Housing Wire
JULY 16, 2024
Dallas-based United Real Estate has joined the cohort of brokerage defendants who have settled the commission lawsuits. On Tuesday, United Real Estate announced that it had reached a nationwide settlement in the Gibson commission lawsuit. As part of the settlement, United will pay $3.7 million into a settlement fund. The brokerage said it has also agreed to adhere to certain business practice changes, which are not being disclosed at this time.
Appraisal Buzz
JULY 16, 2024
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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 With construction projects becoming more complex, outdated processes are no longer sustainable.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.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Housing Wire
JULY 16, 2024
Do we really have a housing crisis? After all, the “homeownership rate” is in the mid 60s — in the middle of the pack of other rich countries, and little different than it’s been for 50 years. But the way we typically measure the homeownership rate — as the number of home-owning households divided by the total number of households — hides the severity of the problem.
Appraisal Buzz
JULY 16, 2024
First American Data & Analytics, a division of First American Financial Corporation specializing in property-centric information and valuation solutions, unveiled its latest Home Price Index (HPI) report July 16. The report—a key indicator of national housing market trends—provides detailed insights into home price fluctuations across various geographic levels and market segments.
Housing Wire
JULY 16, 2024
Favorable economic trends are helping mortgage rates continue the downward trend they’ve been on for the past few months. HousingWire ‘s Mortgage Rates Center showed that the average 30-year conforming loan rate was 7.06% on Tuesday, down from 7.11% a week earlier. The 15-year conforming loan rate showed an even larger pullback, declining from 6.90% to 6.79% during the week.
Real Estate News
JULY 16, 2024
The Fed is expected to cut rates in September, which may spur buyer activity — but after Canada’s central bank cut rates for the first time in June, sales fell.
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.
Housing Wire
JULY 16, 2024
VestaPlus , a software development firm known for its MLS solutions geared toward agents, has entered into a strategic partnership with the Staten Island Board of Realtors. The partnership includes the licensing of VestaPlus’ Checkmate Listing Violation Detection software to Staten Island MLS (SIMLS). SIMLS, which has more than 2,300 members, said the use of Checkmate will improve its compliance processes.
Real Estate News
JULY 16, 2024
After criticizing many agreements as “unfair,” The Consumer Federation of America has compiled a list of best practices for the industry.
Housing Wire
JULY 16, 2024
HomeSmart International has joined the growing list of brokerages that have settled the commission lawsuits. The firm filed a notice of its nationwide settlement agreement on Tuesday in the consolidated Gibson and Umpa suits. The runner entered into the Gibson suit docket does not include details of the settlement and HomeSmart has not responded to HousingWire ’s request for comment.
Appraisal Buzz
JULY 16, 2024
Motto Mortgage has opened a new office in Nashua, New Hampshire, serving all markets throughout the state. Motto Mortgage Sail Home is now open, marking the first ever franchise office location in the state for the Motto Mortgage brand. The new location will be managed by David Duplessis, who has 35 years of industry experience, previously holding roles at companies including Wells Fargo Home Mortgage, HarborOne Mortgage, LeaderOne Financial, Preferred Mortgage Lending, and Luminate Home Loans,
Housing Wire
JULY 16, 2024
Portfolio Intelligence and Monitoring Servicing a mortgage portfolio is a daunting challenge with hidden risks, requiring a holistic view and strong understanding of your portfolio. Portfolio Intelligence and Monitoring provides the business intelligence you need to make informed decisions. All transaction and property data are sourced automatically in the platform through an enhanced dashboard.
Appraisal Buzz
JULY 16, 2024
Home buyers continue to wait on the sidelines until mortgage rates decrease. As a result, listings are piling up in certain areas, resulting in price cuts, the latest monthly report from Zillow shows. “A growing segment of homes that aren’t competitively priced or well-marketed are lingering on the market,” says Skylar Olsen, chief economist of Zillow, in a statement.
Housing Wire
JULY 16, 2024
The state of Montana may not be a key source of business for the reverse mortgage industry, but that doesn’t negate the reality that seniors who reside there might find the product useful for reaching some kind of financial goal. That can be a challenge if they live in an unusual or uniquely constructed home, or if they live on a vast stretch of land with few neighbors.
Appraisal Buzz
JULY 16, 2024
Borrowers generated 58,057 pre-approval letters through LenderLogix’s QuickQual pre-approval platform in the second quarter, an 8% increase compared with the first quarter, according to the firm’s Homebuyer Intelligence Report. The average number of pre-approved borrowers per loan officer increased to 29, up from 25 in the first quarter. The average pre-approval letter loan amount was $308,681, down slightly from $309,771 in the first quarter.
Housing Wire
JULY 16, 2024
VIU by HUB VIU by HUB is a digitally-enabled personal lines brokerage platform that seamlessly integrates into the home-buying experience. Clients can quickly shop, purchase, and manage their insurance in a complex market, thus a timely value-add for customers. For partners, VIU provides new ancillary revenue to off-set rising interest rates and inflation.
Inman
JULY 16, 2024
Homebuilders exhibited little optimism as the housing market showed little improvement month-to-month, according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released today.
Housing Wire
JULY 16, 2024
Mortgage insurer Radian Group plans to lay off 70 employees in Pennsylvania in September, according to a Worker Adjustment and Retraining Notification (WARN) sent to the state’s Department of Labor and Industry. The jobs cut will affect Radian’s corporate headquarters in Delaware County, with the separations expected to happen on Sept. 13.
Inman
JULY 16, 2024
3 in 4 Americans are planning to buy the next time they move, but many are overestimating minimum down payment, credit score underwriting requirements, according to a new Fannie Mae study.
Housing Wire
JULY 16, 2024
Financial Services Cloud + Einstein 1 Financial Services Cloud connects and centralizes customer data from core banking, wealth, and loan origination platforms, creating a single, unified view of the customer. This enables personalized engagement using purpose-built automation. This streamlined approach accelerates customer onboarding, boosts retention with AI-driven sales and service, and delivers smart financial planning insights powered by trustworthy AI.
Inman
JULY 16, 2024
After brokerages and MLSs reached out, the Consumer Federation of America created criteria focused on whether agreements are readable, understandable, and fair to buyers.
Housing Wire
JULY 16, 2024
Solex ® Solex ® delivers an end-to-end digital mortgage closing solution, integrating eDelivery, eSign, eClose, eVault, and more, to streamline transactions, boost efficiency, ensure compliance, and enhance the experience for lenders, borrowers, and settlement agents. Combined with ConformX ® , our digital document generation engine, lenders gain a complete suite for their document solution needs.
Inman
JULY 16, 2024
Consider this a resource roundup to guide you through the changes you'll make, the client conversations and even the mindset shifts that are necessary right now.
Housing Wire
JULY 16, 2024
Even as a federal law designed to protect income for retirees turns 50 this year, the cry to reform retirement benefits seems to be growing louder than ever. This rising chorus includes The New York Times, which recently published an article titled, “ The $25 Trillion System of Retirement Savings Needs Fixing. ” It offers expert opinions on several ways to shore up fiscal protections for private retirement accounts and argues for an expansion of Social Security benefits.
Inman
JULY 16, 2024
More than 7,500 loan officers in all 50 states and Washington, D.C., have access to cash offers that can be approved in as little as an hour, with NEO Home Loans and American Financial Network among the biggest partners.
Housing Wire
JULY 16, 2024
The National Association of Realtors is adding another partnership to its NAR Realtor Benefits Program. RentRedi will now offer NAR members a subscription to its property management platform at a rate of $1 for the first six months. The platform provides tools for both landlords and renters, which the company said is designed to automate and streamline the management process.
Inman
JULY 16, 2024
Appraisal management company Solidifi and lending giant Rocket Mortgage are also charged with violating the Fair Housing Act. Rocket says it expects to prevail.
Housing Wire
JULY 16, 2024
Mortgage production increased at Bank of America (BofA) in the second quarter of 2024 compared to the previous three months, but the bank’s home loan volumes were still lower than those delivered in the same period last year. Competitors Wells Fargo , JPMorgan Chase and Citi showed the same trend when opening the Q2 2024 earnings season for mortgage businesses on Friday.
Inman
JULY 16, 2024
Nine months after signing an enterprise deal with Anywhere, California-based proptech leader RealScout has extended its reach to include Sotheby's International Realty's company-owned locations. Agents at SIR's company-owned locations will have full access to the RealScout platform, which includes a branded home search portal, interactive side-by-side listing comparisons, social media tools, lead management and distribution, and several other agent and broker-focused support features.
Housing Wire
JULY 16, 2024
The North Carolina Regional MLS (NCRMLS) has expanded into Georgia. According to an announcement on Monday, the MLS has recently welcomed the strategic additions of Savannah MLS , Athens Area Association of Realtors and Classic MLS , and the Realtors of Greater Augusta into its fold. “Georgia’s partnership with NCRMLS marks a significant advancement for real estate professionals in our region,” a joint statement from the three Georgia associations read.
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