Housing Wire

OCTOBER 28, 2024

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

Business 468

Business Sellers Realtors Buyers 468

Appraisal Buzz

OCTOBER 28, 2024

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.

Property Taxes 349

Property Taxes Home Value Government HOA 349

Housing Wire

OCTOBER 28, 2024

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.

Inventory 475

Inventory New Listings Sellers Contracts 475

Appraisal Buzz

OCTOBER 28, 2024

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.

Appraisal 409

Appraisal Insurance Valuation Property Appraisal 409

Housing Wire

OCTOBER 28, 2024

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.

Realty 427

Realty Agents Brokerage Tools 427

Appraisal Buzz

OCTOBER 28, 2024

As the appraisal industry evolves, balancing the traditional art of appraisal with scientific advancements is essential to ensure more reliable and credible results. This dynamic interplay between intuition, expertise, and emerging technologies is shaping the future of appraisals in ways that benefit both appraisers and consumers. Appraisal: Art vs.

Appraisal 363

Appraisal Modernization Technology Appraisal Process 363

Real Estate News

OCTOBER 28, 2024

Scott Durkin, who led Douglas Elliman Realty, was terminated just days after the CEO of its parent company stepped down.

Brokerage 298

Brokerage Realty 298

Housing Wire

OCTOBER 28, 2024

I have attended several industry events recently and so many of the discussions continue to focus on the short game—top of funnel. I find myself wondering after all these years and despite abundant real estate tech innovations to support the entire buyer/seller lifecycle, are we stuck as an industry in a fixed mindset, unable to move beyond simply lead gen?

Business 445

Business Real Estate Technology Brokerage 445

Real Estate News

OCTOBER 28, 2024

The latest numbers suggest that, for the third consecutive fall season, rates will crest that dreaded threshold.

Real Estate 290

Real Estate Mortgage 290

Housing Wire

OCTOBER 28, 2024

The Mortgage Industry Standards Maintenance Organization (MISMO)’s dedicated reverse mortgage development work group is targeting January 2025 as the release window for reverse mortgage standards it is helping to develop. Industry professionals hope these standards can go a long way toward normalizing reverse mortgage products within the mainstream lending ecosystem.

Mortgage 444

Mortgage Lending Modernization Development 444

Real Estate News

OCTOBER 28, 2024

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.

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Housing Wire

OCTOBER 28, 2024

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.

Mortgage 397

Mortgage Technology Design Tools 397

Appraisal Buzz

OCTOBER 28, 2024

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.

Mortgage 195

Mortgage Inventory Housing Market Development 195

Housing Wire

OCTOBER 28, 2024

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.

Appraisal 459

Appraisal Valuation Inspection Sellers 459

Appraisal Buzz

OCTOBER 28, 2024

The seventh Credit Insurance Risk Transfer (CIRT) transaction of the year has been completed, according to Fannie Mae. Mortgage credit risk totaling $338.6 million was transferred to private insurers and reinsurers via CIRT 2024-L4. “We appreciate the support of the 26 insurers and reinsurers that committed to write coverage on this deal, including the strong reception to the new structural enhancements that we introduced in the updated CIRT insurance policy,” said Rob Schaefer, VP of Capital Ma

Insurance 195

Insurance Mortgage Appraisal Marketing 195

Housing Wire

OCTOBER 28, 2024

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.

Inspection 447

Inspection Mortgage Technology Training 447

Inman

OCTOBER 28, 2024

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.

Real Estate Agent 187

Real Estate Agent Real Estate Agents Realty 187

Housing Wire

OCTOBER 28, 2024

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.

Brokerage 434

Brokerage Legal Realtors Sellers 434

Inman

OCTOBER 28, 2024

Windermere’s Principal Economist Jeff Tucker looks at September’s "disappointing" existing-home sales report and discusses some of the factors impacting the numbers.

Marketing 186

Marketing Agents 186

Housing Wire

OCTOBER 28, 2024

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

Loan Officers 426

Loan Officers Investors Clients Design 426

Appraisal Buzz

OCTOBER 28, 2024

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.

Mortgage 195

Mortgage Inventory Appraisal 195

Housing Wire

OCTOBER 28, 2024

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.

Brokerage 430

Brokerage Realty Contracts Investors 430

Inman

OCTOBER 28, 2024

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.

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Appraisal Buzz

OCTOBER 28, 2024

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 195

Mortgage Real Estate Training Finance 195

Inman

OCTOBER 28, 2024

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.

Brokerage 182

Brokerage Agents 182

Appraisal Buzz

OCTOBER 28, 2024

Ardley , offering technology that parses mortgage servicers’ entire portfolios and identifies viable new origination opportunities in seconds, has launched Forecast, a new feature of its Actionable Data Intelligence (ADI) platform that enables users to qualify borrowers based on lender-specified pricing adjustments, also known as “lender credits” or “exception pricing.

Technology 195

Technology Business Mortgage Appraisal 195

Inman

OCTOBER 28, 2024

For real estate professionals, receiving a referral is a testament to a job well done — and can contribute to the strength of a business.

Real Estate 179

Real Estate Business 179

GoForrmz

OCTOBER 28, 2024

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.

Tools 148

Tools Clients Business Legal 148

Inman

OCTOBER 28, 2024

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.

Real Estate 175

Real Estate Real Estate Agent Technology Agents 175

Eyes on Housing

OCTOBER 28, 2024

With elevated interest rates and rising home prices, 103.5 million households in the United States cannot afford a $495,750 median-priced new home. The growing affordability crisis makes housing a top issue for voters in the 2024 presidential election. Both presidential candidates have offered housing policy proposals to address our nation’s housing supply and affordability challenges.

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Home Value 158

Inman

OCTOBER 28, 2024

Before drastic changes are made to Clear Cooperation, CoreLogic's Devi Mateti writes, it's worth noting that existing technology solutions already provide much of the flexibility being debated.

Technology 174

Technology Real Estate 174

Appraiserblogs

OCTOBER 28, 2024

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.

Appraisal 133

Appraisal Mortgage Realtors 133

Inman

OCTOBER 28, 2024

"Bond vigilantes" figure "no matter which party wins the White House and the Congress, fiscal policies will bloat the budget deficit and heat up inflation," Wall Street veteran Ed Yardeni warns.

Investors 174

Investors Marketing Mortgage 174

BiggerPockets

OCTOBER 28, 2024

Despite mortgage rate unpredictability, the real estate market is growing in some of the country’s priciest cities.

Investors 91

Investors Marketing Contracts Real Estate 91