Housing Wire

JUNE 20, 2024

Michael Saleh, a former senior vice president of Rocket Mortgage who spent about two decades at the company, has transitioned from the retail lending channel to wholesale by launching independent brokerage firm Zoom Home Lending. Saleh opened the Livonia, Michigan-based firm alongside Henri Houmani and Issa Al-Sheleh, who previously worked for Rocket and migrated to the wholesale channel two years ago.

Lending 410

Lending Brokerage Human Resources Real Estate Agent 410

Appraisal Buzz

JUNE 20, 2024

In a new analysis of U.S. down payments , Zillow found that, in order to comfortably afford a typical U.S. home, a buyer making the median income needs to put down nearly $127,750, or 35.4%. Just five years ago, when mortgage rates were hovering just above 4% and the typical home was worth nearly 50% less, that home would have been affordable with no money down.

Home Value 397

Home Value Buyers Housing Market Inventory 397

Housing Wire

JUNE 20, 2024

Real estate technology provider Inside Real Estate is rebranding its kvCORE platform to BoldTrail , according to an announcement on Thursday. Like kvCORE, BoldTrail is a branded portfolio that unites a collection of capabilities into one system, bringing Inside Real Estate products together in one place. But the company also said that this is about more than just a new name.

Real Estate 392

Real Estate Technology Clients Agents 392

Appraisal Buzz

JUNE 20, 2024

During the four weeks ended June 16, pending home sales declined 3.8% year-over-year, representing the largest drop in over four months—according to a new study from Redfin. Buyers are also avoiding earlier stages of the house-hunting process. Redfin’s Homebuyer Demand Index, which measures requests for tours and other buying services from Redfin brokers, fell 17% year-over-year, reaching its lowest level since February.

Buyers 395

Buyers New Listings Sellers Mortgage 395

Housing Wire

JUNE 20, 2024

Real estate technology firm Knock announced Thursday that its bridge loan product is being integrated into the borrower application process at Baltimore -based NFM Lending. The bridge loan estimate is being integrated into the lender’s workflow through an Encompass plugin. NFM loan officers will be automatically notified when a homeowner can tap into the equity of their current home to buy a new one before selling.

Lending 373

Lending Loan Officers Real Estate Agent Real Estate 373

Appraisal Buzz

JUNE 20, 2024

Planet Home Lending Area Sales Manager Tom Reber National mortgage lender and servicer Planet Home Lending has hired Tom Reber as Area Sales Manager in Jacksonville, Florida. Reber brings a wealth of experience and a vision for growth in key markets, aiming to expand the company’s presence in Daytona Beach, Jacksonville, Tallahassee and Savannah, Georgia.

Lending 373

Lending Loan Officers Retail Finance 373

Appraisal Buzz

JUNE 20, 2024

Mortgage rates dipped for a third straight week, with the average rate for a 30-year fixed-rate mortgage falling to 6.87%, down from 6.95% last week, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago at this time, the average rate for a 30-year was 6.67%. “Mortgage rates fell for the third straight week following signs of cooling inflation and market expectations of a future Fed rate cut,” says Sam Khater, chief economist for Freddie Mac, in a statement.

Mortgage 362

Mortgage Housing Market Appraisal Marketing 362

Housing Wire

JUNE 20, 2024

Finance of America (FOA), the leading U.S. reverse mortgage lender, has received shareholder approval upon recommendation of its board to perform a reverse stock split at a 10-to-1 ratio in a move designed to boost the company’s stock price. This is according to a company filing with the Securities and Exchange Commission (SEC) reviewed by HousingWire ’s Reverse Mortgage Daily (RMD).

Finance 349

Finance Investors Retail Investing 349

Appraisal Buzz

JUNE 20, 2024

The “Five D’s” – diapers, diplomas, divorce, downsizing and death – continue to drive a large share of U.S. home sales, as a majority of buyers wait on the sidelines for mortgage rates to drop. U.S. home prices increased 0.5% in May compared with April and were up 5.9% compared with May 2023, according to First American’s home price index report. Home prices nationally are now 54.6% higher compared to pre-pandemic levels (February 2020), First American says.

Sellers 344

Sellers Buyers Mortgage Marketing 344

Housing Wire

JUNE 20, 2024

Oklahoma -based Adfitech , a mortgage industry partner for quality control and risk management services, has changed its name to Mortgage Connect Risk Solutions. The move reflects the company’s 2022 acquisition by Pennsylvania -headquartered Mortgage Connect LP. Mortgage Connect, a nationwide services provider for lenders, institutional investors and servicers , acquired Adfitech two years ago to expand its efforts in third-party due diligence and quality control (QC).

Mortgage 337

Mortgage Clients Lending Investors 337

Sacramento Appraisal Blog

JUNE 20, 2024

A seller thinks his property is worth about one million dollars more than it actually is because he hijacked a price per sq ft from a different house down the street and applied it to his own. Doh!! This happens all the time unfortunately, and it’s an example of how simple real estate math can […] The post Real estate math gone wild first appeared on Sacramento Appraisal Blog.

Real Estate 305

Real Estate Sellers Appraisal Housing Market 305

Housing Wire

JUNE 20, 2024

The U.S. Department of Veterans Affairs (VA) is seeking to provide more support to military veterans who want to age in place in their current homes. This includes exploration of the smart-home technology sector, according to reporting at the Federal News Network. Smart home tech, including wearable devices like smart watches, could help flag instances when an older veteran living independently is having some kind of medical emergency.

Technology 334

Technology Tools Development 334

Real Estate News

JUNE 20, 2024

There could be a window of opportunity for would-be buyers as mortgage rates continue to ease and homes sit on the market longer, prompting price cuts.

Buyers 296

Buyers Sellers Mortgage Marketing 296

Housing Wire

JUNE 20, 2024

On Thursday, two U.S. regulators — the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corp. (FDIC) — announced their approval of a final rule imposing quality control standards for automated valuation models (AVMs) used by mortgage originators and secondary market issuers. AVMs, which value residential real estate used as collateral to secure mortgages, are under an interagency rulemaking process.

Valuation 334

Valuation Real Estate Insurance Appraisal 334

Appraisal Buzz

JUNE 20, 2024

The rate of critical defects in mortgage loans post-closing was 1.53% as of the end of the fourth quarter, according to ACES’ quarterly Mortgage QC Industry Trends Report. That’s a year-over-year decrease of 19.18%, illustrating the vast improvement in lenders’ loan quality efforts, the firm says. Compared with the third quarter of 2023, the critical defect rate declined 8.38%.

Mortgage 195

Mortgage Appraisal 195

Housing Wire

JUNE 20, 2024

California-based loanDepot has concluded the transaction to extend $497.7 million in senior notes due in the fourth quarter of 2025, resulting in new debt with a higher interest rate and a shorter maturity period than usually seen in the market for similar companies. A loanDepot subsidiary, LD Holdings Group LLC, will exchange its outstanding senior notes due in 2025, paying 6.5%, for senior secured notes due in 2027, paying 8.75%, according to an 8-K filing sent Thursday to the Securities and E

Investing 332

Investing Lending Investors Mortgage 332

Appraisal Buzz

JUNE 20, 2024

Motto Mortgage has announced the opening of its latest franchise in Saint Augustine, Fla. The new office, Motto Mortgage INVICTUS, is headed by Navy Veteran Jaren Woeppel , who has over a decade of experience in real estate and private lending. Since leaving the Navy in 2012, Woeppel has grown his passion for the industry and is now looking forward to using his background and expertise to provide the community with an easier, more transparent homebuying experience.

Mortgage 195

Mortgage Retail Lending Real Estate 195

Housing Wire

JUNE 20, 2024

Editor in Chief Sarah Wheeler sat down with UWM CTO Jason Bressler on the HousingWire Daily podcast to talk about technology and how UWM is leveraging AI specifically. This interview has been edited for length and clarity, but you can listen to the entire episode here. Sarah Wheeler: How is UWM leveraging AI? Jason Bressler: Literally, in everything that we do right now.

Technology 322

Technology Business Mortgage Tenants 322

Real Estate News

JUNE 20, 2024

The path is more clear for MLSs than brokerages, according to a top industry lawyer. The National Association of Realtors, meanwhile, had no comment.

Brokerage 246

Brokerage Realtors 246

Appraisal Buzz

JUNE 20, 2024

Tom Reber recently joined Planet Home Lending as area sales manager for North Florida and Southern Georgia. Reber is a 30-year mortgage industry veteran, with experience in retail mortgage banking. He is renowned for his ability to drive excellence and build strong teams, Planet Home Lending says in a release. As a home loan originator, his focus on the 904 area code has resulted in thousands of families achieving their dream of homeownership.

Lending 195

Lending Loan Officers Retail Inventory 195

Real Estate News

JUNE 20, 2024

Watch the conversation with CubiCasa leader Jeff Allen as he discusses the “magic” of capturing floor plans and how they can boost agents’ value proposition.

Agents 218

Agents 218

Inman

JUNE 20, 2024

Parent company Inside Real Estate will carry the BoldTrail name in a range of iterations as they roll out this summer. The new moniker is meant in impart that real estate isn't for the faint of heart.

Real Estate 167

Real Estate Technology Brokerage Agents 167

Real Estate News

JUNE 20, 2024

A former project manager said she was subjected to sexual harassment and retaliation in a lawsuit filed June 18 in Illinois District Court.

Project Management 185

Project Management 185

Inman

JUNE 20, 2024

The Inman Intel Index goes beyond sentiment and trends by tapping into the industry's most engaged community. Add your voice to real estate's most ambitious monthly survey today.

Real Estate 164

Real Estate Realtors Technology Brokerage 164

Appraiserblogs

JUNE 20, 2024

It means the statements in your appraisal reports about the actual component material, and its quality and current condition, can be challenged by computer software. Folks, this news release (below) was in several publications on Wed, June 19, 2024. These kinds of releases are mostly factual, but are often embellished to present a particular ‘owner’ point of view to influence opinion about products.

Appraisal 111

Appraisal Valuation Technology 111

Inman

JUNE 20, 2024

Purchase loan applications have surged for two weeks in a row, but rates for conforming mortgages are inching back up toward 7 percent this week as investors weigh the odds of Fed rate cuts.

Mortgage 162

Mortgage Investors Marketing 162

Empire Appraisal Group

JUNE 20, 2024

Florida Home Values Skyrocket By Jennifer Torres The average Florida home value doubled in six years. Tampa and Miami tied for having the third-fastest price doubling among large U.S. cities. MIAMI – The national median home price is twice what it was ten years ago. Molded by a storm of inflation, tight supply and surging demand, the average home price in the U.S. went from around $200,000 to $400,000, according to a new study from Point2.

Home Value 78

Home Value Construction Buyers Housing Market 78

Inman

JUNE 20, 2024

Schmidt and his wife, Wendy Schmidt, bought the home in 1990 for $2 million and gradually expanded the estate over about 20 years, adding neighboring parcels, a guest house and a green house.

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BiggerPockets

JUNE 20, 2024

Ensure a smooth tenant transition with our comprehensive move in checklist for landlords. Prepare your property and start tenancies right.

Landlords 77

Landlords Tenants Property Management 77

Inman

JUNE 20, 2024

A penthouse at Central Park Tower on Manhattan's Billionaires' Row has sold to an unidentified international buyer for $115 million, making it the first residential sale in New York City over $100 million since 2022.

Buyers 147

Buyers Development Marketing 147

Buys Brokers Only LLC

JUNE 20, 2024

Ever wondered how thousands of homes magically appear on real estate websites? The answer lies in a powerful tool called the Multiple Listing Service (MLS). But what exactly is the MLS, and how does it benefit everyone involved in a real estate transaction?

Real Estate 60

Real Estate Tools 60

Inman

JUNE 20, 2024

The "River of Real Estate" continues to flow, even in a challenging market. Coach Verl Workman offers insights for growth and resilience under any circumstances.

Marketing 154

Marketing Real Estate Agents 154

BiggerPockets

JUNE 20, 2024

Most investors know they have access to tax benefits, but most don't know the ins-and-outs.

Real Estate 81

Real Estate Investing Investors 81

Inman

JUNE 20, 2024

At Inman Connect Las Vegas in July, Windermere broker Cassie Walker Johnson will reveal her eight-step system for creating buyer agreements. She gave Inman a sneak peak ahead of the event.

Buyers 141

Buyers Marketing 141