Housing Wire
FEBRUARY 22, 2024
Government-sponsored enterprise (GSE) Fannie Mae announced on Thursday the appointment of Peter Akwaboah as executive vice president and chief operating officer, effective May 20, 2024. Akwaboah, who is currently serving as COO for technology and global head of innovation at Morgan Stanley , has nearly 30 years of experience in the financial services industry.
Real Estate News
FEBRUARY 22, 2024
Amy Lessinger, former SVP of Region Development, takes over as president, while two other execs receive promotions.
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Housing Wire
FEBRUARY 22, 2024
When the Department of Justice (DOJ) revealed last week the changes it would like to see in how real estate agents and brokers are compensated through its statement of interest filed in the MLS Property Information Network commission lawsuit , few in the real estate industry were surprised by the agency’s desire to decouple commissions. In early September 2023, Steve Murray , the co-founder of RealTrends Consulting , told HousingWire that he believed this was a possible outcome.
Real Estate News
FEBRUARY 22, 2024
The company said its "decision to offboard a significant number of unproductive agents" in Q4 was offset by "excellent" retention of strong producers.
Speaker: Timothy Allsopp
Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.
Housing Wire
FEBRUARY 22, 2024
Rocket Companies , the parent of Rocket Mortgage , was in the red again in 2023 as it reported a GAAP net loss of $390 million. The company reduced its cost structure by nearly 20% in 2023 following a nearly 25% reduction in 2022, but lower origination volume failed to keep the company profitable as the industry is still going through a challenging period for mortgage lending.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Housing Wire
FEBRUARY 22, 2024
Existing-home sales picked up in January as buyers took advantage of the lowest mortgage rates seen in several months. Existing-home sales rose 3.1% from December to a seasonally adjusted annual rate of 4 million in January, according to a report from the National Association of Realtors (NAR). Year over year, sales dipped 1.7%, down from 4.07 million in January 2023.
Real Estate News
FEBRUARY 22, 2024
Sales rose by more than 3% in January, suggesting a turnaround in 2024, but mortgage rates still hold the key to the future of the market.
Housing Wire
FEBRUARY 22, 2024
The housing market in the state of Florida saw higher median home prices, more real estate listings and a higher number of active listings during the month of January, according to data released Thursday by Florida Realtors , a state-based trade organization for real estate professionals. The figures in each metric are higher compared to the same attributes from one year ago, but a spike in interest rates have also had impacts on the state’s real estate market.
Real Estate News
FEBRUARY 22, 2024
Inventory is building as buyers stay on the sidelines, but there’s still hope for more activity as the spring shopping season gets underway.
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Housing Wire
FEBRUARY 22, 2024
Mortgage rates continued their ascension toward 7% this week, raising doubts about the approaching spring homebuying season. The 30-year fixed-rate mortgage averaged 6.90% as of Feb. 22, an increase from last week ’s figure of 6.77%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday. Meanwhile, the 15-year fixed rate averaged 6.29% this week, up from 6.12% during the prior week.
Miller Samuel
FEBRUARY 22, 2024
I joined the folks at 27East again for a discussion on the housing market outlook for 2024 in the Hamptons. They always foster a great conversation and I enjoyed this one as I always do. 27east.com · Real Estate Analyst Gives 2024 Hamptons Outlook The post [27 Speaks Podcast] Jonathan Miller Provides A 2024 Hamptons Outlook first appeared on Miller Samuel Real Estate Appraisers & Consultants.
Housing Wire
FEBRUARY 22, 2024
Despite slower housing market conditions , Big Four title firms Stewart , First American and Fidelity National Financial all managed to earn profits in 2023. Stewart, which reported its earnings earlier in February, posted a revenue of $2.26 billion in 2023 and a net income of $30.4 million. Both figures were down significantly from 2022 when it recorded $3.07 billion in revenue and net income of $162.3 million.
Real Estate News
FEBRUARY 22, 2024
Zillow's Listing Showcase expands; HomeStack joins MoxiWorks network; Bright MLS adds SkySlope; Luxury Presence launches AI lead tool; Rechat adds partners.
Housing Wire
FEBRUARY 22, 2024
Recent cyberattacks at mortgage companies have put the industry in alert mode, executives at top lenders, servicers, tech vendors and investors told HousingWire. Mr. Cooper Group , loanDepot , First American and Fidelity National Financial Inc. , parent of servicer LoanCare, have temporarily shut down their systems to contain cyberattacks that exposed their customers’ data.
Inman
FEBRUARY 22, 2024
RE/MAX announced it was making changes to its executive team after revenue fell for a sixth consecutive quarter to end 2023. Amy Lessinger will succeed Bailey as president.
Housing Wire
FEBRUARY 22, 2024
Hispanic household wealth ballooned to $63,400 in 2022, growing more rapidly than any other demographic group in the country, according to a recent report published by Hispanic Wealth Project , a nonprofit established by the National Association of Hispanic Real Estate Professionals ( NAHREP ). While other racial and ethnic demographics have seen an increase in household wealth during that same period, Latinos were the only racial or ethnic demographic to increase their wealth by more than three
Inman
FEBRUARY 22, 2024
Learn why, for this Arizona luxury broker, real estate is a family affair, and find out how mentorship has helped her grow her impact.
Housing Wire
FEBRUARY 22, 2024
Late last year, the U.S. Department of Housing and Urban Development (HUD) Office of the Inspector General (OIG) announced the launch of an inquiry into Ginnie Mae ’s monitoring of now-bankrupt lender Reverse Mortgage Funding (RMF), and its extinguishment from the Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program. While the office has not yet issued any formal updates on the investigation, HUD Inspector General Rae Oliver Davis addressed the matter during a recent interview
Inman
FEBRUARY 22, 2024
Mortgage giant reports positive adjusted earnings for the third consecutive quarter, "despite some of the most difficult industry conditions in three decades," CEO Varun Krishna says.
Housing Wire
FEBRUARY 22, 2024
Demand for existing homes — including REO assets — outpaces the available supply. Growing and changing is vital to expand your services and business growth so that you can tailor services in REO. Tiffany Fletcher, senior vice president of operations support and operational risk for VRM Mortgage Services , offers strategies for doing just that, showing how VRM is growing and changing during these unique times.
Inman
FEBRUARY 22, 2024
The new franchise, led by owners Nicole and Doug Freer, will service clients in Houston's suburbs. The couple's team was No. 1 in Texas based on 2022 sales volume and transaction sides.
Housing Wire
FEBRUARY 22, 2024
As demand for homes continues to outpace new listings, CrossCountry Mortgage (CCM) is introducing a new cash-offer product, the company announced Thursday. The Cleveland -based retail mortgage lender unveiled CCM CashPlus to help buyers gain an edge in the bidding process by turning preapprovals into cash offers. CashPlus has no appraisal or financing contingencies.
Inman
FEBRUARY 22, 2024
Get acquainted with some of our exciting, world-class headliners, and grab your tickets for Inman Connect Miami.
Housing Wire
FEBRUARY 22, 2024
Delinquencies improved in January, highlighting the resiliency of U.S. mortgage holders. The national delinquency rate fell to 3.38% in January, down from 3.57% in December, according to the Intercontinental Exchange (ICE) First Look Mortgage Performance report. The rate remained flat on a year-over-year basis and was the lowest recorded since October.
Eyes on Housing
FEBRUARY 22, 2024
According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts declined somewhat during the fourth quarter of 2023. For the quarter, 102,000 multifamily residences started construction. Of this total, 98,000 were built-for-rent. The market share of rental units of multifamily construction starts fell back to a still elevated 96% for the fourth quarter as the.
Housing Wire
FEBRUARY 22, 2024
Fintech FundingShield will provide comprehensive title fraud solutions via an advanced programming interface (API) integration to CoreLogic ‘s digital mortgage platform. The partnership comes amid wire and title fraud risk reaching an all-time high in fourth-quarter 2023. About 52% of transactions had issues that led to a risk of wire and title fraud, according to FundingShield.
Inman
FEBRUARY 22, 2024
Learn how Boston team leader Josh Muncey built his business through community presence, networking and smart leverage.
Housing Wire
FEBRUARY 22, 2024
Arizona Regional MLS and Wisconsin -based Metro MLS are looking to have the antitrust lawsuit filed against them by Zillow Group and ShowingTime dismissed. Filed in late December 2023, the lawsuit alleges that ARMLS, Metro MLS and the parent company of showing platform Aligned Showings, MLS Aligned, are “unlawfully attempting to monopolize the market for real estate showing management services in the geographic regions they control and from unlawfully conspiring to exclude or severely limit Show
Inman
FEBRUARY 22, 2024
The company best-known for its virtual brokerage brought in $983 million in revenue between October and December, even as a difficult market took a toll, according to Q4 earnings released Thursday.
Housing Wire
FEBRUARY 22, 2024
HousingWire Editor in Chief Sarah Wheeler sat down with Jason Cave , former deputy director at the FHFA where he ran their FinTech Office, to talk about where mortgage tech is falling short, and what the government should do to help. Sarah Wheeler: What led you to leave FHFA for the private sector? Jason Cave: I spent 30 years in the government — 27 at FDIC and three at FHFA.
Inman
FEBRUARY 22, 2024
New Inman contributor Lindsey Harn writes that accessory dwelling units offer a wide variety of benefits for all kinds of renters, from college students to elderly family members.
Eyes on Housing
FEBRUARY 22, 2024
Confidence in the market for new multifamily housing was in negative territory for the fourth quarter, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB). The MMS produces two separate indices. The Multifamily Production Index (MPI) had a reading of 41 – below the break-even point of 50 – while.
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