Housing Wire
SEPTEMBER 3, 2024
With the calendar shifting to September and the next meeting of Federal Reserve policymakers only two weeks out, mortgage rates continue to recede and evidence suggests that borrowers are reacting to more favorable housing market conditions. At HousingWire ‘s Mortgage Rates Center on Tuesday, the 30-year rate for conforming loans averaged 6.60%, down from 6.64% one week ago.
Appraisal Buzz
SEPTEMBER 3, 2024
A recent study has brought to light the financial advantages of working with Independent Mortgage Brokers, underscoring the significant savings and inclusive support they offer to a diverse range of homebuyers. The study, conducted by Polygon Research and backed by Willow Canyon Advisors and United Wholesale Mortgage (UWM) , analyzed 2023 data, and found that consumers who choose Mortgage Brokers over nonbank retail lenders can save an average of $10,662 over the life of their loan.
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Housing Wire
SEPTEMBER 3, 2024
For many in the real estate industry, Aug. 17, 2024 — the date that the business practice changes outlined in the National Association of Realtors’ (NAR) commission lawsuit settlement agreement went into effect — served as a reckoning of sorts. “I am in awe of how many folks decided on Thursday that something was changing on Saturday,” Linda O’Koniewski, the broker-owner of Leading Edge Real Estate , said the week after the business practice changes went into effect.
Real Estate News
SEPTEMBER 3, 2024
NAR’s latest confidence survey also suggests that buyers gained some leverage this summer, but overall sales were down.
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Housing Wire
SEPTEMBER 3, 2024
With elevated mortgage rates having persisted over the past two years, Federal Reserve Chair Jerome Powell indicated recently that a cut to the federal funds rate at this month’s meeting of the Federal Open Market Committee (FOMC) is on the table, which would likely have the effect of driving mortgage rates lower. Elevated interest rates have been part of the reality for the forward and reverse mortgage channels since the waning days of the COVID-19 pandemic.
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Housing Wire
SEPTEMBER 3, 2024
This week the available inventory of homes for sale inched down across the country. It was a lead up to the holiday weekend, so that’s not uncommon. But it is indicative that we’re roughly at the peak of inventory for the summer. We may have a few more weeks of inventory gains, but the long stretch where inventory has been growing compared to a year ago is now over.
Real Estate News
SEPTEMBER 3, 2024
With new industry practice changes now in effect, agents can face real consequences for breaking the rules. MLSs — and brokerages — are trying to help.
Housing Wire
SEPTEMBER 3, 2024
Florida-based independent brokerage The Keyes Co./Illustrated Properties has joined the growing list of brokerages that have settled the commission lawsuits. The firm notified the court of its settlement agreement on Tuesday in the consolidated Gibson and Umpa suits suits via a motion to stay the case. No details of the conditions of the settlement were immediate available.
Real Estate News
SEPTEMBER 3, 2024
The Keyes Company has reached an agreement in the Gibson lawsuit as the settlement fund nears $1 billion.
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Housing Wire
SEPTEMBER 3, 2024
In a new episode of the “Real Estate Insiders Unfiltered” podcast, John Campbell — managing director at Stephens Inc. and an equity research analyst — joins hosts James Dwiggins and Keith Robinson to chat about last month’s major changes for the real estate industry. The trio discuss the major companies that are thriving in the post-Aug. 17 market and those that still face challenges.
Inman
SEPTEMBER 3, 2024
At Compass, Thor Brown will serve as director of luxury sales, while Sam Fingold will take on the role of luxury real estate advisor, according to South Florida Agent Magazine. Both will operate out of Compass’ Palm Beach Island office at 150 Worth Avenue.
Housing Wire
SEPTEMBER 3, 2024
Mortgage servicer Nationstar , doing business as Mr. Cooper , is expected to settle a lawsuit with electronic payment processing vendor ACI Payments that is related to alleged damages from unauthorized mortgage payments imposed on Mr. Cooper’s customers three years ago. The settlement notice was filed Aug. 30 in a U.S. district court in Texas.
Inman
SEPTEMBER 3, 2024
Selling real estate under the new commission rules is like playing Red Light, Green Light on a tightrope, bicoastal agent Cara Ameer writes. Here’s how her business has been since the change.
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Housing Wire
SEPTEMBER 3, 2024
CMG Home Loans , the retail lending division of CMG Financial , announced on Tuesday the appointment of Kari Van Kleef to the position of reverse mortgage operations manager. She is one of “several industry veterans who will be directing the dedicated reverse mortgage department at CMG,” the company said. Van Kleef, who previously worked for the reverse mortgage divisions at Fairway Independent Mortgage Corp. and Movement Mortgage , has been in the broader mortgage business for about 26 years an
Inman
SEPTEMBER 3, 2024
Anthony Lamacchia said threats of severe penalties for commission violations leveled by plaintiffs lawyer Michael Ketchmark and Consumer Advocates in American Real Estate are "unnecessary.
Housing Wire
SEPTEMBER 3, 2024
The chief economist of Fannie Mae expects to hang up the cleats this year. Doug Duncan , who’s been the chief economist at the government-sponsored enterprise since 2008, will be retiring effective Sept. 22, according to Rob Chrisman, who first reported the news on his blog Tuesday morning. Mark Palim, the company’s deputy chief economist, will succeed Duncan as chief economist.
Inman
SEPTEMBER 3, 2024
WAV Group is seeking feedback from agents on the fate of the policy in a new survey ahead of the National Association of Realtors' Emerging Issues Advisory Board committee meeting Sept. 12-13.
Housing Wire
SEPTEMBER 3, 2024
Rocket Pro TPO tapped Dan Sogorka as its general manager as the wholesale arm of Rocket Mortgage looks to equip broker partners with better technology. Dan Sogorka Sogorka will spend much of his time with broker partners to help them understand the technology needed on the Rocket Pro TPO platform, and how buyers and sellers interact with Rocket’s tools.
Appraisal Buzz
SEPTEMBER 3, 2024
Ron Chillemi has joined non-bank HELOC provider Figure Technology Solutions as its first chief legal officer and corporate secretary, where he will oversee the company’s legal and compliance functions. Chillemi has more than 25 years of regulatory affairs, government relations, and compliance experience in fintech, at top law firms, and as a federal and state prosecutor.
Inman
SEPTEMBER 3, 2024
Murdoch's Australia-based News Corp subsidiary announced on Monday that it was considering a cash and stock offer for the UK's largest real estate portal.
Eyes on Housing
SEPTEMBER 3, 2024
The cost per square foot of a single-family home declines systematically as the home becomes larger, according to NAHB analysis of two recent data sources. In microeconomics, unit costs that decline as a business operation increases in size are called economies of scale. In home building, economies of scale may exist in several forms. It.
Inman
SEPTEMBER 3, 2024
At the flagship Inman Connect New York in 2025 and Austin Connect this October, discover how building a robust referral network can revolutionize and future-proof your real estate business.
Eyes on Housing
SEPTEMBER 3, 2024
Private residential construction spending fell 0.4% in July, according to the Census Construction Spending data. Nevertheless, spending remained 7.7% higher compared to a year ago. The monthly decline in total private construction spending for July was largely due to reduced spending on single-family construction. Spending on single-family construction plunged by 1.9% in July, following a.
Inman
SEPTEMBER 3, 2024
In a newly created role at Rocket Pro TPO, the former Sagent CEO is tasked with winning more business from mortgage brokers by leveraging Rocket's data, technology and AI capabilities.
Eyes on Housing
SEPTEMBER 3, 2024
Despite high mortgage rates, the lack of resale homes and pent-up demand drove solid growth in single-family permits across nearly all regions in the second quarter. In contrast, multifamily construction permit activity experienced declines across all regions for the second quarter of 2024. These trends are tabulated from the recent release of the National Association.
Inman
SEPTEMBER 3, 2024
The settlement was revealed in a new court filing, though the company has not said how much it might pay. The Keyes Company has more than 4,000 agents working across Florida.
Mortgagebroker News
SEPTEMBER 3, 2024
Bank CEO talks market prospects looking ahead
Inman
SEPTEMBER 3, 2024
Pre-sale renovation services company Revive has made its artificial intelligence-backed property valuation product, Revive Vision AI, free to all real estate consumers.
Mortgagebroker News
SEPTEMBER 3, 2024
Banking giant on how trend is cutting into profits
GoForrmz
SEPTEMBER 3, 2024
“ I have to tone the guys down because I hear them all the time saying, ‘Can we just get a form and QR code for this and that?’ ” — Janeen Sheard, Director of Information Services, The Conlan Company About The Conlan Company The Conlan Company, a general contractor with corporate offices in Atlanta, Georgia, Jacksonville, Florida, and Dallas, Texas, specializes in constructing industrial facilities.
Mortgagebroker News
SEPTEMBER 3, 2024
Government reintroduces stricter rules for temporary foreign workers
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