Housing Wire
APRIL 18, 2024
Existing home sales fell in today’s report , which isn’t surprising, but one headline that shocked some people was that home prices are still up year over year, even with higher inventory and higher mortgage rates. From NAR : The median existing home price for all housing types in March was $393,500, an increase of 4.8% from the previous year ($375,300).
Real Estate News
APRIL 18, 2024
Two U.S. senators are pushing for policy changes that would reduce “exclusionary” zoning regulations and promote local development.
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Housing Wire
APRIL 18, 2024
Wire fraud prevention firm CertifID and big four title firm Old Republic have entered into a strategic agreement to prevent mortgage payoff fraud , according to an announcement on Thursday. Mortgage payoff fraud occurs when a title company mistakenly sends payoff funds to a fraudulent bank account after receiving wire instructions that appear to be from the mortgage servicer.
Real Estate News
APRIL 18, 2024
No rate relief is expected soon, and home prices are also setting records this spring, suppressing existing home sales.
Housing Wire
APRIL 18, 2024
The Financial Crimes Enforcement Network (FinCEN), a division of the U.S. Department of the Treasury , is sounding the alarm over challenges faced by elder financial exploitation (EFE). In a newly released trends report, FinCEN highlighted more than $27 billion worth of “suspicious activity” across more than 155,000 filings of Bank Secrecy Act (BSA) data with FinCEN between June 15, 2022 and June 15, 2023.
Real Estate News
APRIL 18, 2024
A Pennsylvania judge concluded the brokerage company has personal jurisdiction in a telemarketing lawsuit involving agents from a franchise office.
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Appraisal Buzz
APRIL 18, 2024
The average rate for a 30-year fixed-rate mortgage increased to 7.10% this week, up from 6.88% 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 6.39%. “The 30-year fixed-rate mortgage surpassed 7 percent for the first time this year, jumping from 6.88 percent to 7.10 percent this week,” says Sam Khater, chief economist for Freddie Mac, in a statement.
Housing Wire
APRIL 18, 2024
Atlanta-based PulteGroup Inc. , one of the largest homebuilders in the U.S., has filed an objection in the Sitzer/Burnett commission lawsuit following settlements with Anywhere , RE/MAX and Keller Williams. PulteGroup says that the company does not have enough information to adequately determine the amount of money it could recover, among other issues, according to a court filing reviewed by HousingWire.
Eyes on Housing
APRIL 18, 2024
Half of payroll workers in construction earn more than $58,500 and the top 25% make at least $79,450, according to the latest May 2023 Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) and analysis by the National Association of Home Builders (NAHB). In comparison, the U.S. median wage is $48,060, while the top.
Housing Wire
APRIL 18, 2024
The challenges in today’s mortgage market have caused many originators to expand their loan product offerings outside of qualified mortgage (QM) criteria set by the Consumer Financial Protection Bureau (CFPB). They have embraced non-QM as a means to stay competitive and protect their referral base. The bottom line is that all originators need a wide array of products to compete.
Inman
APRIL 18, 2024
Existing-home sales retreated 4.3 percent between February and March to a seasonally adjusted annual rate of 4.19 million, according to data released Thursday by the National Association of Realtors.
Housing Wire
APRIL 18, 2024
The Academy for Home Equity in Financial Planning housed at the University of Illinois Urbana-Champaign (UIUC) will return to being known as the Funding Longevity Task Force , and it will “mobilize as needed if there are any regulatory changes or major changes within the reverse mortgage industry,” according to a representative for Mutual of Omaha Mortgage.
Appraisal Buzz
APRIL 18, 2024
Overall, delinquency rates for commercial mortgages were flat during the first quarter compared with the second quarter, but loans backed by office properties continued to see a rise in delinquencies, according to the Mortgage Bankers Association. “While overall delinquencies remained flat, the delinquency rate for loans backed by office properties rose again during the first three months of this year,” says Jamie Woodwell, head of commercial real estate research for the MBA, in a statement.
Housing Wire
APRIL 18, 2024
Every business is on the brink of significant transformation driven by the potential of Artificial Intelligence (AI) and workflow automation, and the mortgage industry is no exception. With AI’s capacity to perform complex reasoning and manage autonomous operations, it is critical to explore how this technology can reshape industry standards, enhance operational efficiency, and how we as an industry manage its inherent risks.
Appraisal Buzz
APRIL 18, 2024
Existing-home sales plummeted 4.3% in March compared with February, falling to a seasonally adjusted annual rate of 4.19 million, and were down 3.7% compared with March 2023, as rising mortgage rates stopped the rebound heading into the spring home buying season, according to the National Association of Realtors (NAR). Rising home prices also impacted sales velocity: The median existing-home sales price in March increased to $393,500 – up 4.3% compared with March 2023.
Housing Wire
APRIL 18, 2024
Florida-based First Federal Bank announced on Thursday that it struck a deal to acquire Watson Mortgage Corp., expanding its mortgage retail lending footprint in the communities in which it operates. The financial details of the deal were not disclosed. First Federal Bank has 25 branches in the Southeast and operations in the Midwest, including mortgage centers in Jacksonville, Florida ; Alpharetta, Georgia; Madison, Wisconsin; and Overland Park , Kansas.
Inman
APRIL 18, 2024
The campaign will roll out across print and digital media and comes against the backdrop of commission disruption and intense competition among portals.
Housing Wire
APRIL 18, 2024
The loan repurchase trend that began to sting many mortgage originators in 2022 appears to finally be winding down, according to a recent report by Sterling Point Advisors and Augment Analytics. The report, based on loan-level data from Fannie Mae and Freddie Mac , shows that the dollar amount of loan repurchases peaked in the second quarter of 2022, at $630 million for Freddie Mac and $593 million for Fannie Mae.
Inman
APRIL 18, 2024
A total of 27,500 build-to-rent houses in the United States were completed in 2023, according to a new report from RentCafe.
Housing Wire
APRIL 18, 2024
Existing home sales slumped last month under the weight of elevated mortgage rates. Existing home sales receded by 4.3% in March to a seasonally adjusted annual rate of 4.19 million, down from 4.38 million in February, according to a report released Thursday by the National Association of Realtors (NAR). Year over year, sales fell by 3.7%. The median price for all types of existing homes rose to $393,500, an increase of 4.8% from the median price of $375,300 one year ago.
Inman
APRIL 18, 2024
One Connecticut homebuyer is preparing for marriage. Another in Virginia is healing from a divorce. Both tell Inman the struggle to find a home this spring is real — and the clock is ticking.
Housing Wire
APRIL 18, 2024
Digital mortgage automation solutions provider Floify is partnering with Truv , a consumer-permissioned data platform, the company announced on Wednesday. The integration allows mortgage lenders to verify income and employment seamlessly as borrowers apply for a loan. Procuring verification of income (VOI) and verification of employment (VOE) reports at the point of application help lenders accelerate and streamline the application process.
Inman
APRIL 18, 2024
Find out how team leader Andrew Warburton and The Warburton Team promote the ideal of homeownership for everyone.
Housing Wire
APRIL 18, 2024
The Federal Housing Finance Agency (FHFA) this week released its annual Housing Mission Report , offering insights into the actions the agency took in 2023 on a host of issues. These include oversight of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac , mortgage purchases designed to improve affordability for low-income homeowners, vendor partnerships and investments in the Low-Income Housing Tax Credit (LIHTC) program.
Inman
APRIL 18, 2024
On Wednesday, executives told customers that a "security incident involving a malicious third party" caused the outage that has disrupted thousands of brokers and agents since last week.
Housing Wire
APRIL 18, 2024
The median monthly housing payment for U.S. homebuyers rose to a record $2,775 during the four-week period ending April 14, up 11% year over year, according to a Redfin report. The recent hotter-than-expected inflation reading sent mortgage rates upward. On Thursday, HousingWire’s Mortgage Rates Center showed the average 30-year fixed rate for conventional loans at 7.31%, up from 7.19% a week earlier.
Inman
APRIL 18, 2024
First Federal Bank continues expansion of its nationwide mortgage lending operations with deal to acquire Watson Mortgage Corp. and investments in digital solutions.
Housing Wire
APRIL 18, 2024
Editor in Chief Sarah Wheeler sat down with Ike Suri, chairman and CEO of FundingShield, to talk about rising fraud risks, what keeps him up at night, and why AI is still far from helpful in his business of protecting clients. Sarah Wheeler: FundingShield just released its Q1 Fraud report , which showed that nearly half of the loans processed in the first quarter showed fraud risks.
Inman
APRIL 18, 2024
Need a pep talk? Coach Darryl Davis offers a little wisdom to help you remember your value and navigate the difficult waters of client service.
Eyes on Housing
APRIL 18, 2024
After reaching the 12-month high last month, existing home sales retreated in March due to lingering high mortgage rates, according to the National Association of Realtors (NAR). Meanwhile, low resale inventory and strong demand continued to drive up existing home prices, marking the ninth consecutive month of year-over-year median sales price increases.
Inman
APRIL 18, 2024
Nimble, a CRM company, has integrated the features of phone call automation company PhoneBurner to enhance how users stay in touch with clients.
Appraiserblogs
APRIL 18, 2024
…whether through redlined maps or implicit “one-mile rule,” the result can be undervalued properties in historically marginalized neighborhoods. Throughout the history of mortgage banking and lending in the United States, underwriting policies have significantly influenced the appraisal process for home purchases and refinances. Appraisers must follow underwriter appraisal review guidelines meticulously to ensure their appraisal reports are accepted by the lender.
Inman
APRIL 18, 2024
Find out how this award-winning broker combines culture, collaboration and commitment to elevate the profession.
Mortgagebroker News
APRIL 18, 2024
Dive into the heartfelt pathways, financial victories, and behind the scenes success of MCAN Home
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