Housing Wire

JULY 2, 2024

While many had hoped the Department of Justice’s interest in the real estate industry would wane with the business practice changes outlined in the National Association of Realtors’ commission lawsuit settlement agreement , that is clearly not the case. In a message on Realtor Hub , a forum for NAR members, trade group president Kevin Sears told members that the DOJ is keeping “a close eye” on the industry, as first reported by Inman News.

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Legal Realtors Real Estate Sellers 451

Appraisal Buzz

JULY 2, 2024

Homeowners preparing to sell, as well as those planning to stay put for the long haul, undertake home improvement projects, either to boost the property’s resale value or to increase their at-home quality of life. In order to help either type of homeowner make smarter choices, analysts at Fixr examine data from the annual Remodeling Cost vs. Value Report to determine home improvement projects with the greatest return on investment.

Home Improvement 435

Home Improvement Investing Real Estate Real Estate Agent 435

Housing Wire

JULY 2, 2024

Mortgage rates rose slightly over the past week, with the U.S. economy continuing to show strength even as home sales remain tepid. According to HousingWire ‘s Mortgage Rates Center , the average 30-year rate for conforming loans stood at 7.11% on Tuesday, up slightly from 7.08% one week ago. Meanwhile, the 15-year conforming rate continued its steep rise and reached 6.99% on Tuesday after having reached a recent low point of 6.56% on June 21.

Mortgage 430

Mortgage New Listings Government Tools 430

Appraisal Buzz

JULY 2, 2024

Based on its industry-leading mortgage, real estate, and public records data sets, Intercontinental Exchange, Inc. (ICE) has published its July 2024 ICE Mortgage Monitor Report. The dynamics underlying the active mortgage market’s gradual shift toward higher average rates are examined in this month’s Mortgage Monitor. Although there is still a significant bias in the market toward lower-rate mortgages, Andy Walden, VP of Research and Analysis at ICE, points out that this is shifting.

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Housing Wire

JULY 2, 2024

Class Valuation , one of the largest appraisal management companies (AMCs) in the country, has tapped Andrew Bough as its new chief operating officer. Bough, who most recently served as executive vice president at Valuation Connect , a subsidiary of Class Valuation, has more than 30 years of experience in the appraisal and valuation industry. He began his career as an appraiser and has previously held leadership positions at Solidifi and Chase. “His deep industry knowledge, proven leadersh

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Appraisal Buzz

JULY 2, 2024

Ranking cities with at least 10,000 apartments and populations above 50,000, a new report published by RentCafe ranked 149 cities on cost of living, housing, local economy, and quality of life to find the best cities in which to rent an apartment. According to the annual report, Charleston, South Carolina topped the list—for the second year in a row—as the best city to rent using a litany of factors to come to this conclusion.

Marketing 370

Marketing Insurance Business Appraisal 370

Appraisal Buzz

JULY 2, 2024

This year, double vanities are the most requested kitchen and bathroom feature among high-end purchasers, as ranked by more than four out of five (86%) luxury homebuyers in a new Redfin study. Walk-in pantries (83%) and kitchen islands (85%) are the next most popular features, with luxury buyers requesting granite or quartz surfaces from their brokers.

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Housing Wire

JULY 2, 2024

Patrice Ficklin, who has served at the Consumer Financial Protection Bureau (CFPB) since the agency’s founding in 2011, will depart for Fannie Mae to serve as the government-sponsored enterprise’s fair lending officer. The news was first reported by American Banker. Ficklin has been a mainstay at the CFPB, overseeing the launch of the bureau’s fair lending office and leading it through more than 13 years’ worth of full-time directors and presidential administrations from both sides of political

Lending 417

Lending Human Resources Law Government 417

Appraisal Buzz

JULY 2, 2024

Bank of America’s 2024 Workplace Benefits Report “The Resurging Workforce” provides some good news: 47% of American workers feel financially well, up 5% from last year. Also, fewer people are concerned that economic uncertainty will affect their retirement savings (53%, down 10% from last year). Unfortunately, the study also found the gender gap of financial wellness was increasing, with 53% of men reporting good financial wellness versus 36% of women.

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Appraisal 221

Housing Wire

JULY 2, 2024

Keller Williams made changes to its executive team on Monday, appointing Cody Gibson as its new vice president of KW MAPS Coaching and Rachel Elder as the new vice president of KW Cares , the brokerage firm’s 501(c)(3) charity that supports KW associates and their families. Gibson has more than 20 years of experience as a real estate business leader and trainer and he serves as operating principal across six KW market centers.

Real Estate 417

Real Estate Brokerage Agents Business 417

Appraisal Buzz

JULY 2, 2024

Xactus CFO Joseph Peterson Xactus has announced that Joseph Peterson has been named CFO, overseeing the company’s financial operations, including managing the strategic direction of Xactus’ accounting and finance functions, developing policies, procedures and financial controls, overseeing financial systems, ensuring the accuracy of internal and external reporting, identifying investment opportunities, securing funding, and managing risk.

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Housing Wire

JULY 2, 2024

The plaintiffs in the Burton copycat commission lawsuit in South Carolina have filed an appeal that asks the Eighth Circuit Court of Appeals to examine Judge Stephen Bough’s final approval of the Anywhere , RE/MAX and Keller Williams commission lawsuit settlement agreements. The appeal was filed on Monday by attorneys at Knie & Shealy on behalf of Benny D.

Brokerage 417

Brokerage Realty Legal Real Estate 417

Appraisal Buzz

JULY 2, 2024

The Federal Housing Finance Agency (FHFA) has published updated aggregate statistics from the National Mortgage Database (NMDB) and launched the NMDB Aggregate Statistics Dashboard —new data visualization tool for the NMDB Outstanding Residential Mortgage Statistics. “The release of updated data will allow stakeholders to better understand emerging mortgage and housing market trends,” said FHFA Director Sandra L.

Mortgage 221

Mortgage Housing Market Property Appraisal Design 221

Housing Wire

JULY 2, 2024

Douglas Elliman has secured a $50 million growth investment from Kennedy Lewis Investment Management , according to an announcement on Tuesday. Kennedy Lewis is a credit-focused alternative asset management firm. According to the release, this investment strengthens Douglas Elliman’s balance sheet and it will fuel its strategic growth and expansion.

Investing 428

Investing Real Estate Brokerage Agents 428

Appraisal Buzz

JULY 2, 2024

Jim Harper has joined Waterstone Mortgage as vice president, accounting and finance. Harper has more than 25 years of experience in the financial services industry, including seven years of work within the mortgage industry. He has a proven track record in financial strategy, enhancing operational efficiency, and leading high-performing teams. Throughout his career, he has held several senior leadership positions, including senior vice president – corporate controller and chief financial officer

Finance 195

Finance Mortgage Business Appraisal 195

Housing Wire

JULY 2, 2024

A new report by IDIQ® , a financial intelligence company, details top consumer credit concerns provided by mortgage , real estate, and lending professionals as well as borrowers themselves. The research included surveys of more than 100 mortgage and real estate professionals, more than 200 prospective borrowers, and a study of proprietary data of more than 20,000 IDIQ consumers with credit scores less than 700.

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Tools Mortgage Modernization Real Estate 427

Appraisal Buzz

JULY 2, 2024

Michael R. Drayne has joined the Housing Policy Council (HPC), a trade association comprised of the leading national mortgage lenders and servicers; mortgage, hazard, and title insurers; and technology and data companies, as senior vice president of capital markets. A seasoned capital markets executive, Drayne brings extensive market and government policy expertise to the HPC.

Marketing 195

Marketing Development Finance Technology 195

Housing Wire

JULY 2, 2024

The Arizona Regional Multiple Listing Service (ARMLS) announced a partnership with Lone Wolf Technologies that will give ARMLS subscribers access to a tool designed to give agents information to guide their clients through an uncertain market. The tool — Cloud CMA —provides real-time reports, presentation tools, and other offerings that both companies believe will help agents show their clients that they possess the knowledge to guide them through buying and selling homes. “In any market,

Technology 414

Technology Real Estate Agent Real Estate Tools 414

Appraisal Buzz

JULY 2, 2024

The Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB) have published updated loan-level data for public use collected through the National Survey of Mortgage Originations (NSMO). The data also provide updated mortgage performance and credit information for a nationally representative sample of mortgage borrowers from 2013 to 2021.

Property Appraisal 195

Property Appraisal Appraisal Lending Finance 195

Housing Wire

JULY 2, 2024

The Consumer Financial Protection Bureau (CFPB) and the Federal Housing Finance Agency (FHFA) this week released updated loan-level data collected through the National Survey of Mortgage Originations (NSMO), according to a joint announcement. The data provides “updated mortgage performance and credit information for a nationally representative sample of mortgage borrowers from 2013 to 2021,” the agencies explained.

Mortgage 413

Mortgage Appraisal Process Finance Appraisal 413

Appraisal Buzz

JULY 2, 2024

Union Home Mortgage (UHM), an independent mortgage banking company, reports that it has provided more than $1 million of support to low-to-moderate income first-time homebuyers through its 1% Down Payment Assistance Program. Since December of 2023, the program has helped more than 400 families achieve the dream of homeownership with an average grant size of approximately $2,700.

Design 195

Design Lending Mortgage Appraisal 195

Housing Wire

JULY 2, 2024

After the reverse mortgage industry’s key performance metrics rallied in May, June fared slightly worse than previously telegraphed by case number assignments. Home Equity Conversion Mortgage (HECM) endorsements fell by 14.4% in June to 2,105, while HECM case numbers for May dropped 7.9% to 3,214. This is according to data compiled by Reverse Market Insight (RMI).

Mortgage 410

Mortgage Loan Officers Retail Finance 410

Appraisal Buzz

JULY 2, 2024

U.S. home prices increased 0.6% in May compared with April and were up 4.9% compared with May 2023, according to CoreLogic’s home price index. It was the lowest rate of annual appreciation recorded since October 2023. The month-over-month increase of 0.6% was the slowest in four months. All states saw annual home price gains, ranging from 0.9% in Louisiana and Texas to 12% in New Hampshire.

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HOA Inventory Marketing Appraisal 195

George Dell

JULY 2, 2024

Patriotism. Easy, everyone knows what that is! It’s Independence Day! It’s fireworks! It is a time to declare our devotion, love and support for the country. But devotion, support, and love are “feelings” not facts. And do we relate this sense of feeling to our personal actions? Our “support”? Can these feelings run deeper? Does […] The post What is Patriotism?

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Real Estate News

JULY 2, 2024

After unveiling a scathing critique of the association’s buyer agreement last week, the CFA is back with a new report focused on C.A.R.’s listing contract.

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Contracts Buyers 231

Inman

JULY 2, 2024

The second report by the Consumer Federation of America to focus on the California Association of Realtors in as many weeks examines the association's 7,000-word homeseller listing agreement.

Realtors 182

Realtors Contracts Sellers Brokerage 182

Real Estate News

JULY 2, 2024

A proposed mixed-use apartment community anchored by a Costco warehouse store could signal a new approach to affordable housing.

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Inman

JULY 2, 2024

With the investment, Kennedy Lewis co-founder and Co-Managing Partner David Chene will join Douglas Elliman's board. Douglas Elliman also released preliminary Q2 2024 financial results.

Investing 181

Investing Brokerage 181

GoForrmz

JULY 2, 2024

Originally published on 05/09/2017 Bolster your classroom with digital data capture Introducing digital data capture in the classroom can revolutionize the way educators manage administrative tasks and engage with students. Teachers, professors, and school administrators already have enough on their plates, so arming educators with a platform like GoFormz can modernize and streamline various processes through electronic forms.

Modernization 148

Modernization Tools Technology Development 148

Inman

JULY 2, 2024

The deal will allow Matterport tours to accompany listing pages, with the dimensions and square footage of each property autofilled in a bid to reduce the risk of faulty data entry, executives say.

Technology 179

Technology 179

Eyes on Housing

JULY 2, 2024

Due to tightened monetary policy, the count of open construction sector jobs shifted lower in the early Spring but is now stabilizing, per the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS). This shift lower is consistent with a somewhat cooler labor market, which is a positive sign for future inflation readings.

Construction 88

Construction Marketing 88

Inman

JULY 2, 2024

In a statement sent to NAR members, Kevin Sears confirmed executives of the trade organization met with Assistant Attorney General Jonathan Kanter last week to discuss settlement updates.

Real Estate 176

Real Estate Brokerage Agents 176

BiggerPockets

JULY 2, 2024

Whether you're a student or have kids about to enroll, these financial freedom tips provide a great start on the path to financial independence.

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Inman

JULY 2, 2024

Join our July 10 webinar to get the inside scoop on all things Inman Connect Las Vegas and Luxury Connect happening July 29 - Aug. 1 at the Aria Resort in Las Vegas.

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Agents Marketing 180