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After previously taking issue with some of the forms generated as a result of the terms of the National Association of Realtors ’ (NAR) nationwide commission lawsuit settlement agreement , University of Buffalo law professor Tanya Monestier is now objecting to NAR’s settlement. In a document filed on Monday in U.S. District Court in Kansas City — less than a month before the NAR settlement is slated for its final approval hearing — Monestier took issue with the business practice changes, sayi
Three of the five largest U.S. metro areas in Florida have seen the highest increases in property tax bills since the pandemic began, making it more difficult to afford a home in the Sunshine State, according to recent Redfin research. In Indianapolis, where the average homebuyer now pays 66.7% more than they would have in 2019, the median monthly property tax payment has increased the greatest during that time, reaching $205.
We track inventory and home sales very closely, so the biggest surprise this year has been the resiliency of home prices. Given the unrelenting mortgage costs, generally weak homebuyer demand, and the year’s rising supply of unsold homes, I’ve been expecting home prices to recede a bit in the second half of this year. They have not. That’s an important lesson to learn from when looking into next year.
Total mortgage origination volume is forecast to increase to $2.3 trillion in 2025, up 28% from the $1.79 trillion expected in 2024, according to the Mortgage Bankers Association (MBA). Purchase originations are forecast to increase 13% to $1.46 trillion. By loan count, total mortgage origination volume is expected to increase to 6.5 million loans, up from 5.1 million loans expected this year.
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.
In an environment where technology is increasingly becoming a recruitment tool for brokerages, eXp Realty has partnered with a data provider in an effort to give its agents an advantage over the competition. The brokerage on Monday announced a new partnership with Sisu, a real estate business intelligence platform that provides agents the ability to set goals, monitor performance and compete with each other via a leaderboard and individual contests.
The U.S. mortgage delinquency rate increased to 3.48% in September, up from 3.34% in August, according to ICE Mortgage Technology’s latest First Look report. About 1.88 million homes were in some stage of delinquency (30 days more or more past due but not in foreclosure), an increase of about 79,000, or 4.3%, compared with August and up about 132,000, or 5.74%, compared with September 2023.
The U.S. mortgage delinquency rate increased to 3.48% in September, up from 3.34% in August, according to ICE Mortgage Technology’s latest First Look report. About 1.88 million homes were in some stage of delinquency (30 days more or more past due but not in foreclosure), an increase of about 79,000, or 4.3%, compared with August and up about 132,000, or 5.74%, compared with September 2023.
Fluctuating interest rates and a fast-changing market Last month, we saw the Federal Reserve deliver their long-awaited decision to lower interest rates with a 50 basis points cut, and 30-year mortgage rates reached as low as 6.08% according to ICE’s 30-year fixed conforming rate index. This increased refinance incentive, and mortgage applications reached their highest level in more than two years—surging by 11% according to the Mortgage Bankers Association in the week following the rate cut.
Laura Escobar, president of Lennar Mortgage, has been appointed chair of the Mortgage Bankers Association (MBA) for 2025. In addition, Christine Chandler has been named chair-elect and Owen Lee has been named vice chair. The news was announced during the MBA’s Annual Convention and Expo now underway in Denver. Escobar is a 37-year mortgage industry veteran, She has held leadership positions with both bank-owned and independent mortgage companies overseeing all aspects of mortgage banking.
Mortgage technology company Gateless is offering its flagship automated underwriting platform to a new lender. The Loan Store — a wholesale lender based in Arizona — will now use the Gateless Smart Underwrite platform, according to a recent announcement. The artificial intelligence-based platform, the latest addition to the Gateless AI mortgage tool suite, aims to enhance The Loan Store’s underwriting capabilities.
The Federal Housing Finance Agency (FHFA) and U.S. Department of Housing & Urban Development (HUD) have released new appraisal data from loan applications on single-family mortgages submitted to HUD’s Federal Housing Administration (FHA). The addition of appraisal data from FHA expands the scope of information in FHFA’s Uniform Appraisal Dataset (UAD) , which comprises both annual appraisal-level data, as well as aggregate statistics released every quarter.
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.
Mortgage tech firm Ocrolus has introduced Inspect, a new solution within its artificial intelligence -driven mortgage document automation technology, which the company said will improve efficiency and scalability in loan origination. Inspect helps to “expedite loan processing and reduce origination errors by automatically identifying and resolving data discrepancies between borrower-submitted documents and application data,” the company said in a release Monday.
At eXp Realty’s first-ever eXpcon Hackathon, held in Miami Beach, Florida, on Oct. 26, industry innovators competed to showcase projects aimed at creating cutting-edge real estate solutions using OpenAI technology, and the brokerage has officially announced the winners.
Optimal Blue on Monday announced three major product releases — the expansion of its artificial intelligence (AI) assistant suite, the introduction of Scenario Optimizer, and the free availability of Investor Pricing Insight to investor clients. “Each of these newly announced updates helps our clients address changing market conditions with agility, clarity, and precision,” Joe Tyrrell , CEO of Optimal Blue , said in a statement. “From loan officers to secondary marketing teams
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.
Douglas Elliman continues to shake up its leadership team. In a document filed on Friday with the Securities and Exchange Commission (SEC), the firm announced the termination of Douglas Elliman Realty CEO Scott Durkin, as first reported by The New York Times. According to the filing, Durkin was “terminated, effectively immediately.” Durkin’s dismissal came just days after the firm announced the retirement of parent company CEO Howard Lorber.
The Federal Housing Finance Agency has expanded the eligibility for alternative appraisal methods on purchase loans by increasing the maximum loan-to-value (LTV) requirement. The announcement was made on Monday during the Mortgage Bankers Association (MBA) Annual Convention & Expo in Denver, Colorado. The maximum LTV ratio will increase from 80% to 90% for appraisal waivers and from 80% to 97% for inspection-based appraisal waivers, consistent with standard guide eligibility guidelines.
She included several different fee split examples indicating AMCs retained as much as 70 percent of the total appraisal fee paid by the borrower, which prompted her to stop working with AMCs because of the lack of transparency. The appraisal industry is abuzz with a discussion about appraisal fees. The Consumer Financial Protection Bureau (CFPB) recently issued a Request for Information Regarding Fees Imposed in Residential Mortgage Transactions [Docket No.
After staying silent on the topic for nearly two months, the Council of Multiple Listing Services (CMLS) finally weighed in on the debate surrounding the Clear Cooperation Policy (CCP) of the National Association of Realtors (NAR). In an email sent to members last week, CMLS CEO Denee Evans wrote that the group believes that CCP should remain in place and that any modifications made “should preserve the spirit and effect of the policy.
The Leadership Team will now take up the issue, with "no specific date" for resolution. Meanwhile, CMLS calls a hasty repeal of CCP "reckless and unnecessary.
Durkin's departure was announced in an SEC filing on Monday and came after reports emerged about the nature of former Elliman CEO Howard Lorber's retirement, which was allegedly pressured by Elliman's board.
Jessica Rizzo Named Best REALTOR® in the Berkshires On October 26th, 2024, The Berkshire Eagle announced the winners of its annual Best of the Berkshires Awards. We are thrilled to announce that Jessica Rizzo has officially been named as the Best Real Estate Agent in the Berkshires in 2024! This marks her second consecutive year receiving this honor, and we are so excited and proud of her hard work!
Real estate agent Suzanne Simpson has been missing since Oct. 7. Olmos Park authorities have arrested her husband, Brad, for obstructing a search of the couple's home last week.
Originally published on 03/30/2017 Get with the times or get left behind The term “Digital Transformation” is frequently used by brands, industry leaders, and workplace innovators (GoFormz included) — but when it comes to the field service industry, what does a digital transformation strategy truly entail? Beyond the obvious implications of digitizing an organization or specific business process, this buzzword carries more weight and significance than you might realize.
Windermere’s Principal Economist Jeff Tucker looks at September’s "disappointing" existing-home sales report and discusses some of the factors impacting the numbers.
As the players duke it out on the field, Inman readers will decide which star's pad reigns supreme by their votes. The final winner must hit it out of the park to determine the best luxury home of all.
Cutting expenses in 2025 doesn’t mean sacrificing quality, Chris Pollinger writes. By strategically managing your budget, you can maintain profitability and reinvest savings into the areas that truly drive growth.
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