Housing Wire

MAY 6, 2024

Legendary investor Warren Buffett and Greg Abel, the CEO of Berkshire Hathaway Energy , addressed the commission lawsuits and HomeServices of America’s recently announced settlement of the suits, during Berkshire Hathaway’s annual shareholder meeting on Saturday. “There is no question that the industry will go through some transitions because of the settlements — ours and every other major player in the industry settled, the National Association of Realtors settled for more than $400 million ,”

Real Estate Agent 505

Real Estate Agent Real Estate Agents Realtors 505

Appraisal Buzz

MAY 6, 2024

Does the cost of homeowners insurance affect the price of a home? In some markets, the answer is increasingly yes. In recent years, insurance companies have pulled out of some markets altogether after sustaining massive losses due to wildfires, flooding, and other climate-related disasters. Add to this rising replacement costs and legal fees, increased government regulation, inflation, and fraud, and companies are bleeding about a billion dollars every three weeks.

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HOA Insurance Legal Fees Valuation 370

Housing Wire

MAY 6, 2024

U.S. home prices continued to climb in March as a persistent shortage of homes for sale helped to buoy the housing market, according to the Intercontinental Exchange (ICE) Home Price Index. And while prospective homebuyers cope with the challenges of rising housing unaffordability, existing homeowners are reaping the benefits of historically strong price gains.

Mortgage 497

Mortgage Inventory Housing Market Government 497

Appraisal Buzz

MAY 6, 2024

The progress that was made in providing mortgages to to a higher percentage of low-income homebuyers during the pandemic years has been reversed in the past two years due to higher mortgage rates and rising home prices, a report from Redfin shows. “There was a sweet spot in 2020 when mortgage rates were ultra low and home prices had yet to skyrocket, allowing some lower-income Americans to break into the housing market,” says Elijah de la Campa, senior economist for Redfin, in the report.

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Buyers Real Estate Housing Market Mortgage 369

Housing Wire

MAY 6, 2024

Redfin has joined the growing list of real estate brokerages that have settled the commission lawsuits. In a document filed with the Securities and Exchange Commission (SEC) on Monday, the brokerage announced that it had reached a nationwide settlement agreement on Friday with the plaintiffs in the consolidated Gibson and Umpa commission lawsuits. As part of the settlement agreement, Redfin has agreed to pay $9.25 million into a qualified settlement fund within 30 days of the court’s preliminary

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Brokerage Realty Real Estate Agents 492

Real Estate News

MAY 6, 2024

The Berkshire Hathaway CEO, along with Vice Chair Greg Abel, spoke about the HomeServices settlement and more during the company's annual shareholder meeting.

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Real Estate 299

Real Estate News

MAY 6, 2024

The company is the 10th brokerage to agree to pay into a settlement fund, which is approaching $1 billion.

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Brokerage 299

Housing Wire

MAY 6, 2024

Finance of America Companies (FOA) announced on Monday that its reverse mortgage brands — Finance of America Reverse (FAR) and American Advisors Group (AAG) — will be consolidated under the singular Finance of America brand going forward. Scheduled to take place starting in the third quarter of 2024, the change remains subject to certain regulatory considerations.

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Finance Advertising Modernization Mortgage 468

Real Estate News

MAY 6, 2024

Mortgage assumptions aren’t new, but they’re about to get a lot more popular because the math works for both sides of the closing table.

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Mortgage Agents 264

Housing Wire

MAY 6, 2024

Utah-based Capital Community Bank (CCBank) has struck a deal to acquire Security Home Mortgage (SHM), which will become an independent subsidiary division of the bank, the parties announced on Friday. The financials of the deal were not disclosed. According to the Nationwide Multistate Licensing System (NMLS), SHM provides home mortgage solutions in six states through a network of four branches and 62 licensed loan officers.

Mortgage 459

Mortgage Retail Loan Officers Construction 459

Real Estate News

MAY 6, 2024

Fair housing advocates and AREAA filed a suit claiming a law prohibiting property sales to certain non-U.S. citizens puts agents in an untenable position.

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Law Agents 264

Housing Wire

MAY 6, 2024

AI -powered real estate assistant Sidekick unveiled a partnership with the San Francisco Association of Realtors (SFAR) on Monday. The collaboration will allow the region’s 4,000 agents to leverage Sidekick’s integrated datasets and workflows, making SFAR the first association to offer a generative AI assistant to its members. Launched in November 2023, Sidekick features many functionalities, including real-time market and property data retrieval abilities, valuation analyses and a suite of prod

Realtors 458

Realtors Real Estate Valuation Agents 458

Appraisal Buzz

MAY 6, 2024

Adam Johnston has joined Candescent Capital Ventures , a private equity firm specializing in investments in the PropTech space, as senior vice president, chief program management and valuation officer. Johnston is an experienced industry veteran. Over the past 20 years, he has served in key leadership roles in mortgage banking, private mortgage insurance, and appraisal management.

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Valuation Project Management Design Insurance 195

Housing Wire

MAY 6, 2024

Rocket Companies , the parent of Rocket Mortgage , announced on Monday that it has hired Shawn Malhotra, a former Thomson Reuters and Intel executive, as the first chief technology officer (CTO) in the company’s history. Malhotra will oversee, among other areas, the firm’s artificial intelligence (AI) development, data science, product engineering, technology operations and information security.

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Development Technology Tools Mortgage 456

Appraisal Buzz

MAY 6, 2024

Capital Community Bank (CCBank), a community bank in Utah, has acquired Security Home Mortgage (SHM), a provider of home mortgage solutions in Utah since 1999. Terms of the deal were not divulged. The deal marks a significant milestone in CCBank’s growth strategy, expanding its portfolio of financial services and reaffirming its commitment to fostering the financial well-being of the communities it serves.

Mortgage 195

Mortgage Clients Business Appraisal 195

Housing Wire

MAY 6, 2024

Following an announcement that the U.S. Department of Housing and Urban Development (HUD)’s Office of Policy Development and Research is seeking public comment related to application and origination documents for the Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgage (HECM) program, the National Reverse Mortgage Lenders Association (NRMLA) and the Mortgage Bankers Association (MBA) have submitted a joint letter with their feedback.

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Inspection Development Design Insurance 448

Appraisal Buzz

MAY 6, 2024

Newfi Lending reports that its EquityChoice product is now available in 16 additional states. EquityChoice is a second lien, shared appreciation mortgage giving homeowners immediate access to cash without having to liquidate portfolio investments, dip into savings, or experience the pressure of added monthly payments. The product gives homeowners access to a portion of home equity at a below-market, fixed interest rate, while sharing in a portion of the home’s future appreciation.

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Lending Investing Finance Mortgage 195

Housing Wire

MAY 6, 2024

After exiting the wholesale channel in February, top U.S. mortgage lender Fairway Independent Mortgage Corp. has decided to grow its retail footprint organically by hiring origination teams from various competitors. The company announced last week that, in April, it welcomed production teams that collectively originated more than $500 million in mortgage volume in 2023.

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Retail Loan Officers Lending Legal 448

Inman

MAY 6, 2024

These three market trend predictions will assist real estate agents in capitalizing on the abundant home selling opportunities available this spring.

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Real Estate Agent Real Estate Agents Marketing 183

Housing Wire

MAY 6, 2024

Representatives of the Mortgage Bankers Association (MBA) and the Housing Policy Council (HPC) are urging leaders at the U.S. Department of Veterans Affairs (VA) to delay a mandatory compliance date with the agency’s Veteran Affairs Servicing Purchase (VASP) program, which aims to prevent foreclosures against military personnel who experienced financial hardship due to the ongoing economic consequences of the COVID-19 pandemic.

Mortgage 448

Mortgage Government Lending 448

Inman

MAY 6, 2024

Sidekick was developed by San Francisco-based boutique brokerage Avenue 8. It primarily uses a text interface to send commands to retrieve data, execute tasks and in many ways, function as a common, “visual” interface would. It's now offered to members of SFAR.

Brokerage 179

Brokerage Development Realtors Technology 179

Housing Wire

MAY 6, 2024

AnnieMac Home Mortgage appointed Ian Aubourg to the role of senior vice president of retail sales, the Mount Laurel, New Jersey -based lender announced Monday. In his new position at AnnieMac, Aubourg will tap into his leadership skills to drive growth and improve the mortgage experience for clients. Aubourg has a track record of leading successful mortgage lending teams and divisions across the Northeast region, including at Mortgage Equity Partners and Movement Mortgage.

Mortgage 436

Mortgage Loan Officers Retail Clients 436

Inman

MAY 6, 2024

While we like to create goals and supportive strategies several months before the end of the year, coaches Emily Bossert and Melanie Klein write, there’s no time like the present to create and benefit from a comprehensive business plan.

Business 176

Business Agents 176

Housing Wire

MAY 6, 2024

Title agents historically have felt like they played second fiddle to other players in the buying and selling of real estate. Largely hidden from view and misperceived by some to be on the lower end of the hierarchy of service providers, the position seemingly lacked the luster of the real estate agent or the panache of the loan officer. During the housing crisis of 2008, the title industry suddenly emerged from obscurity into full view.

Real Estate Agent 429

Real Estate Agent Real Estate Project Management Agents 429

Inman

MAY 6, 2024

At the Realtors Legislative Meetings on Sunday in Washington, D.C., the National Association of Realtors President spontaneously fielded tough questions about the trade group's proposed antitrust settlement.

Realtors 174

Realtors Brokerage Agents 174

Housing Wire

MAY 6, 2024

The Asian Real Estate Association of America , along with the National Fair Housing Alliance , the Housing Opportunities Project for Excellence, Inc., and the Fair Housing Center of the Greater Palm Beaches , have filed a lawsuit that contends Florida Housing Law Senate Bill 264 violates the federal Fair Housing Act. The suit was filed on Monday in U.S.

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Law Real Estate Real Property Contracts 421

Inman

MAY 6, 2024

As an agent for more than 15 years, owner of The Young Team and CEO of Fello, Ryan Young feels deeply passionate about helping agents scale their business through listings.

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Agents Business 173

Appraisal Buzz

MAY 6, 2024

The U.S. Department of Housing and Urban Development (HUD), through the Federal Housing Administration (FHA), and government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac are now allowing home appraisals to get a second look when bias is suspected in the appraisal process. The rule change will enable borrowers to request a re-assessment of the appraised value of their property if they believe that the appraisal was inaccurate or biased, HUD says in a release.

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Reconsideration of Value Valuation Appraisal Appraisal Process 150

Inman

MAY 6, 2024

Compass, The Real Brokerage, Realty One Group, At World Properties and Douglas Elliman had each already reached settlement agreements in the case, and the court has preliminarily approved those settlements.

Brokerage 173

Brokerage Realty Agents 173

Eyes on Housing

MAY 6, 2024

NAHB’s latest study on consumer preferences—What Home Buyers Really Want Study*— asked about the features and amenities buyers want in the home, but also about the type of community where they would like to live. The question is important because the home that successfully appeals to buyers doesn’t exist in a vacuum—it sits inside a.

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Buyers 148

Inman

MAY 6, 2024

The company's net loss was 36 percent less than in 2023, according to Matterport's earnings from the quarter. Revenue rose 5 percent for the quarter.

Technology 168

Technology Marketing 168

BiggerPockets

MAY 6, 2024

If, like me, you check mortgage interest rates like an expectant parent checks their wife’s contractions, you doubtless will have analyzed every type of loan product in an attempt to inch the […]

Contracts 92

Contracts Mortgage 92

Inman

MAY 6, 2024

In 1930, the state of Texas adopted “friendship” as its motto. And while the perpetually congenial Kim Bedwell — Global Real Estate Advisor at Briggs Freeman Sotheby’s International Realty in Dallas-Fort Worth, Texas — embodies this welcoming spirit, it shouldn’t be conflated with an absence of dogged ambition.

Realty 167

Realty Real Estate 167

BiggerPockets

MAY 6, 2024

A mayor in handcuffs, a bankrupt city mired in poverty, unemployment, and soaring crime: 10 years ago that was Detroit’s legacy. Today, it is a real estate success story.

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Investors Real Estate 92