Housing Wire
SEPTEMBER 24, 2024
Invitation Homes , the largest owner of U.S. single-family rental homes , has agreed to pay $48 million to consumers and change some of its practices, according to a proposed settlement with the Federal Trade Commission (FTC) that was announced Tuesday. According to the FTC, Invitation Homes advertised monthly rent prices without including mandatory “junk fees.
Appraisal Buzz
SEPTEMBER 24, 2024
S&P Dow Jones Indices has released the July 2024 results for the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reporting a 5% annual gain for July, down from a 5.5% annual gain the previous month. The 10-City Composite saw an annual increase of 6.8%, down from a 7.4% annual increase in the previous month.
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Housing Wire
SEPTEMBER 24, 2024
Home prices have reached yet another all-time high, but the pace of growth is slowing. That’s according to the S&P CoreLogic Case-Shiller Index for July, which shows U.S. home prices rising 5% year over year. Growth in major U.S. cities was even higher, as the 10-city composite index was up 6.8% year over year and the 20-city composite index was up 5.9%.
Appraisal Buzz
SEPTEMBER 24, 2024
While the environment of the market is evolving and interest rates and inflation have decreased, there are still many unresolved problems regarding the direction the market will go in the coming months and years due to “election-year uncertainty.” Jim Hastings, President of Hastings Brokerage leads a discussion on “Repairs and Rehabs” during the FORCE Rally With top-notch panel speakers, relevant and insightful content, and unique takes on the forecast of the future housing market, the 2024 FORC
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Housing Wire
SEPTEMBER 24, 2024
The mayor of South Portland, Maine , recently acknowledged that property taxes in the region are particularly challenging for those living on a fixed income. When offering advice on how to manage these costs, the mayor brought up the potential for a reverse mortgage. This is according to local reporting by The Maine Wire from a recent city council meeting.
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Housing Wire
SEPTEMBER 24, 2024
After the Federal Reserve lowered benchmark interest rates by 50 basis points last week, mortgage rates continued to move lower, although at a slower pace compared to recent weeks. At HousingWire ‘s Mortgage Rates Center on Tuesday, the average 30-year conforming loan rate was 6.25%, down 9 basis points from a week ago. The 15-year conforming loan rate shed another 19 basis points during the week and now averages 5.60%.
Real Estate News
SEPTEMBER 24, 2024
Agent count is growing, teams are expanding and its new compensation plan — Redfin Next — is going national faster than expected, according to a top exec.
Housing Wire
SEPTEMBER 24, 2024
Like many other big cities across the country, the COVID-19 pandemic wasn’t kind to Chicago. People seeking more space to accommodate working from home led to a minor outflow of residents that put the housing market on pause. But people have returned to the Windy City and, lately, home prices have grown at a pace that would be perfect for Goldilocks — not too hot, not too cold, but just right.
Appraisal Buzz
SEPTEMBER 24, 2024
Anchoring the first full day of the 21 st annual Five Star Conference at the Omni Dallas Hotel, the Keys for Life Luncheon, hosted by Freedom Mortgage Corporation, brought together attendees for a ceremony that honored both the 2024 Lifetime Achievement Award winner and several U.S. military veterans, who were awarded mortgage-free homes on behalf. The luncheon began with a fireside chat between Stanley C.
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Housing Wire
SEPTEMBER 24, 2024
New York-based asset manager Rithm Capital, the owner of multichannel lender Newrez , announced on Tuesday that it plans to raise money for “general corporate purposes” by selling up to 34.5 million shares of common stock to investors in a public offering. The company said underwriters will offer shares from time to time in negotiated transactions or prevailing market prices at the time of sale.
Appraisal Buzz
SEPTEMBER 24, 2024
Day one of the 2024 Five Star Conference kicked off Tuesday at the Omni Hotel in Dallas, and featured an afternoon of education, highlighted by the Property Preservation Forum , presented by Forum Partners Brookstone Management and ZVN Properties Inc. Property preservation remains a critical tool in helping prevent blight and ensuring that properties are returned to the market for future home buyers.
Housing Wire
SEPTEMBER 24, 2024
Top U.S. mortgage lender United Wholesale Mortgage (UWM) this week won a three-year legal battle with a mortgage brokerage firm. The case involves the lender’s controversial “All-In” initiative, which states that brokers who work with UWM cannot engage in business with competitors Rocket Mortgage and Fairway Independent Mortgage Corp.
Appraisal Buzz
SEPTEMBER 24, 2024
U.S. home prices increased 0.2% on an adjusted basis in July compared with June and were up 5% compared with July 2023, according to the S&P CoreLogic Case-Shiller Indices. While prices nationally reached a new all-time high, home price appreciation decelerated. Month-over-month, the index’s 20-city and 10-city composites each reported an increase of 0.3%.
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Housing Wire
SEPTEMBER 24, 2024
Roemanu , the holding company for Toorak Capital Partners and Merchants Mortgage , announced on Tuesday that it has hired former Finance of America executive Charles Macintosh as its chief operating officer. Macintosh will also join Roemanu’s executive committee and oversee multiple areas of the business from its headquarters in Tampa and its office in Summit, New Jersey.
Appraisal Buzz
SEPTEMBER 24, 2024
Xactus , a provider of verification solutions to the mortgage industry, has added Thomas & Company’s Wage and Employment Verification service to its employment verification waterfall, which resides on the company’s digital verification platform, Xactus360. The partnership will add tens of millions of records to Xactus’ platform spanning various industries and including many Fortune 500 companies, the company says in a release.
Housing Wire
SEPTEMBER 24, 2024
Less than a week after an amended complaint added a slew of new plaintiffs to the Davis homebuyer commission lawsuit , the judge overseeing the case has denied defendant Hanna Holdings ’ motion to dismiss or transfer the suit. Judge Wendy Beetlestone of the U.S. District Court for the Eastern District of Pennsylvania issued her ruling on Monday. Hanna Holdings, the parent company of Howard Hanna Real Estate Services, filed its motion to dismiss the suit in early August.
Appraisal Buzz
SEPTEMBER 24, 2024
Fannie Mae and Freddie Mac completed 46,378 foreclosure prevention actions during the second quarter, raising the total number of homeowners who have been helped to more than 7 million since the start of conservatorships in September 2008. The Federal Housing Finance Agency’s (FHFA) second quarter 2024 Foreclosure Prevention and Refinance Report shows that 32% of loan modifications completed in the second quarter reduced borrowers’ monthly payments by more than 20%.
Housing Wire
SEPTEMBER 24, 2024
Coldwell Banker Realty is strengthening its roster of California- based agents. On Monday, the brokerage announced that it was welcoming top-performing agent Jing Hu to the firm’s office in the Silicon Valley hub of Cupertino. Hu was previously brokered with Keller Williams Santa Clara Valley. She transitioned to real estate sales in May 2022 after a three-year career in property management. “As a Bay Area resident for the past ten years and with a background in property management, I unde
Appraisal Buzz
SEPTEMBER 24, 2024
The median U.S. housing payment fell to $2,534 during the four weeks ended September 15, down 2.7% from a year earlier, according to Redfin. The decrease in the median monthly payment was due mainly to falling mortgage rates, which dropped to their lowest level in 20 months in the lead-up to the Fed’s first interest-rate cut since 2020, the firm says.
Housing Wire
SEPTEMBER 24, 2024
The U.S. Department of Justice (DOJ) announced this week that it has secured a $2.4 million settlement from James B. Nutter & Co. , aka Nutter Home Loans , to resolve allegations that the lender had underwritten ineligible reverse mortgages to be insured by the Federal Housing Administration (FHA). The lender “has agreed to pay $2.4 million to resolve allegations that it violated the False Claims Act and the Financial Institutions Reform, Recovery and Enforcement Act of 1989 by knowingly und
Inman
SEPTEMBER 24, 2024
Most homebuyers will continue to use an agent and most homesellers will continue to cover buyer agent commissions, writes broker-owner Eric Bramlett of Austin-based Bramlett Residential.
Eyes on Housing
SEPTEMBER 24, 2024
Home prices remain elevated but price growth continues to decelerate, according to the S&P CoreLogic Case-Shiller Home Price Index (HPI) recent release. The S&P CoreLogic Case-Shiller HPI (seasonally adjusted) reached its 14th monthly consecutive record high in July 2024. The index increased at a seasonally adjusted annual rate of 2.15%, down slightly from a revised.
Inman
SEPTEMBER 24, 2024
Realtor.com released its new map-based search experience on Tuesday, which uses color-coded map layers to help homebuyers find their next home based on preferred home features and market trends.
Eyes on Housing
SEPTEMBER 24, 2024
Consumer confidence fell to a 3-month low in September due to growing concerns about the job market, despite the labor market remaining healthy. Recent job growth revisions showed fewer jobs were added in 2023 than initially reported. However, the unemployment rate remained at a relatively low level and wage growth continued to outpace inflation. This.
Inman
SEPTEMBER 24, 2024
The partnership allows Miami Association of Realtors members access to Solid Earth's Ezement Dashboard, which aims to heighten security while eliminating passwords, executives said Friday.
Mortgagebroker News
SEPTEMBER 24, 2024
Rule changes come into effect on October 11
Inman
SEPTEMBER 24, 2024
Running a successful business isn't just about the big things, coach Verl Workman writes. Often, it's about the small, incremental habits that add up over time.
Mortgagebroker News
SEPTEMBER 24, 2024
Appointment comes as consumer lender expands its credit line
Inman
SEPTEMBER 24, 2024
Holm, who leads the Holm Team in Austin, has leaned into the city's burgeoning tech industry, and he'll share his insights on Silicon Valley's emergence in Texas at Inman Connect Austin next month.
Mortgagebroker News
SEPTEMBER 24, 2024
Association says rental ban is harming sectors that depend on temporary housing
Inman
SEPTEMBER 24, 2024
Real estate professionals who embrace mindfulness now, Aaron Hendon writes, can gain an edge over their competition by staying calm under pressure, making better decisions and connecting more deeply with clients.
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