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The Community Home Lenders of America (CHLA) is calling on both houses of Congress to adopt a mortgage interest credit as the 2017 Tax Cuts and Jobs Act (TCJA) is currently set to expire in 2025. This is according to a letter the organization submitted to leaders in both the U.S. House of Representatives and the U.S. Senate. In the lead-up to its 2017 passage, CHLA representatives “aggressively advocated for a Mortgage Interest Credit (MIC) during debate on the 2017 tax bill, when it became clea
ATTOM has released its Q1 2024 U.S. Home Flipping Report , which shows that 67,817 single-family homes and condominiums in the United States were flipped in Q1. Those transactions accounted for 8.7%—or one out of every 12 home sales overall—from January to March 2024. The latest figure was up from 7.7% of all home sales in the U.S. in Q4 of 2023, representing the second consecutive quarterly increase.
In 2021, HousingWire published an article spotlighting Austin as one of the hottest housing markets in the country. The Texas capital was a COVID-era darling, but the city had been attracting employers and homebuyers well before the pandemic. As noted in that article, Austin had ranked No. 1 in population growth for eight straight years and The Wall Street Journal named it the hottest job market in 2019 and 2020.
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.
Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.
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.
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.
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.
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.
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.
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).
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.
Construction projects are high-stakes operations where even minor inefficiencies can lead to costly delays, safety concerns, and budget overruns. Managing risk in construction has always been a challenge, but as projects grow in complexity, traditional methods no longer cut it. Enter Digital Transformation - a game changer approach that replaces inefficiency with AI-powered analytics, real-time monitoring, and automated workflows to proactively manage risk.
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.
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.
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.
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.
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.
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.
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.
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.
Interest rates are a major headache for real estate agents across Illinois. On the sell side, agents say that low mortgage rates from a purchase or refinance transaction in late 2020 or early 2021 are keeping many potential sellers in their home. “A lot of people pre-COVID or during COVID locked in a great rate,” said Ryan Smith , a Western Springs, Illinois-based RE/MAX Properties agent.
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.
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).
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
The Federal Housing Finance Agency (FHFA) has issued a Request for Input (RFI) on opportunities to improve the Federal Home Loan Banks’ (FHLBanks) processes for members and project sponsors to apply for Affordable Housing Program (AHP) funding. “FHFA’s efforts to streamline the AHP application process should improve the FHLBanks’ ability to provide much needed funding for addressing the shortage of affordable housing,” said FHFA Director Sandra L.
The plaintiffs in the Moratis commission lawsuit (formerly known as the Spring Way suit ) took issue with the nationwide commission lawsuit settlement agreement reached by the National Association of Realtors (NAR). On Wednesday, West Penn MLS , a defendant in the Moratis suit, filed a motion to stay the case, noting that it has opted into the NAR settlement agreement.
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%.
Early this year I had the opportunity to sit down with HousingWire Editor-in-Chief Sarah Wheeler to discuss, among other things, our industry’s persistent profitability issue. A few weeks later the Mortgage Bankers Association released its Quarterly Mortgage Bankers Performance Report , underscoring my point with some truly grim figures. The fourth quarter of 2023 was the seventh straight quarter of net production loss for lenders , who hemorrhaged an average of $2,109 pre-tax dollars for each l
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.
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.
Single-family and multifamily housing starts fell in May as high interest rates for construction and development loans and elevated mortgage rates held back both housing supply and demand. Overall housing starts fell 5.5% in May to a seasonally adjusted annual rate of 1.28 million units, according to a report from the U.S. Department of Housing.
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.
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.
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