Housing Wire
OCTOBER 9, 2024
Homelessness is an escalating problem for the growing number of U.S. seniors, according to a new report from the Government Accountability Office (GAO) based on data from the U.S. Department of Housing and Urban Development (HUD). An estimated 138,000 older Americans — those 55 and older — experienced homelessness on a single night in 2023, according to HUD data.
Appraisal Buzz
OCTOBER 9, 2024
With more and more programs addressing the needs of middle-income renters—those earning between 60% to 120% of the area median income (AMI)—Harvard University’s Joint Center for Housing Studies decided to dive deep to discover who these renters are, the challenges they face, and the services they need, recently publishing the paper “ Subsidizing the Middle: Policies, Tradeoffs, and Costs of Addressing Middle-Income Affordability Challenges.
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Housing Wire
OCTOBER 9, 2024
Heading into Aug. 17 , when the business practice changes outlined in the National Association of Realtors’ commission lawsuit settlement agreement had to be implemented, most brokers and agents were concerned about how they would disclose a seller’s offer of buyer broker compensation. What few actually considered, though, was what would happen when a buyer went from looking at a property to making an offer.
Appraisal Buzz
OCTOBER 9, 2024
New national data concerning manufactured home price trends have been released by the Federal Housing Finance Agency (FHFA). Data on the movement and level of manufactured house prices nationwide are released quarterly by the FHFA in the form of the House Price Index (HPI) and median prices for manufactured homes. The data from real-property conventional mortgages that Fannie Mae and Freddie Mac collected is the basis for both the manufactured house price indexes and the median price.
Housing Wire
OCTOBER 9, 2024
The home insurance marketplace has been facing a reckoning. The challenges that higher costs place on carriers, regulators , lenders and consumers has been well documented this year, and the acceleration of extreme weather events has only made things worse. The arrival of Hurricane Helene late last month threatens to exacerbate the situation in the states it struck.
Appraisal Buzz
OCTOBER 9, 2024
New Realtor.com data revealed that experts anticipate that mortgage rates will remain in the low 6% level through the end of the year, with additional decreases possibly reaching the high 5% range by the following spring, in response to the Federal Reserve’s announcement of a significant rate cut in September. Homebuyers who have grappled with high mortgage rates in recent years may find some relief from recently lowered rates, which could potentially encourage more homebuyers to enter the marke
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Real Estate News
OCTOBER 9, 2024
President Susan Daimler reiterated the company's support for the Clear Cooperation Policy, and called private networks "terrible" for consumers and agents.
Housing Wire
OCTOBER 9, 2024
After reaching their highest level since July 2022 , mortgage applications have declined for two straight weeks, counteracting some recent positive signs for a still-sputtering housing industry. According to weekly data released Wednesday by the Mortgage Bankers Association (MBA), applications shrank 5.1% on a seasonally adjusted basis during the week ending Oct. 4.
Real Estate News
OCTOBER 9, 2024
In the second of a 2-part series, NextHome CEO James Dwiggins warns of a greed-driven future if the CCP is eliminated, and shares a proposal for revising it.
Housing Wire
OCTOBER 9, 2024
In its race against other brokerages to add agents, eXp Realty has scored big in California. Prime Real Estate Team is leaving the white-label brokerage Side and taking its 21 agents to eXp. Led by the wife-and-husband team of Angelica Galeana Yost and Robert Yost, the team serves the Sacramento and Folsom areas of Northern California. Robert Yost is a 19-year veteran in real estate, and Angelica serves as co-team lead and director of growth.
Real Estate News
OCTOBER 9, 2024
Zillow’s latest trends report finds that, despite turbulence in the market, consumer traits and preferences are fairly stable — with some key exceptions.
Housing Wire
OCTOBER 9, 2024
A pair of top-producing agents are returning to Coldwell Banker Realty. On Wednesday, the brokerage announced that Leominster, Massachusetts -based Lynn Walsh and Charlotte -based Victoria Speer are coming back to the firm. Walsh departed Coldwell Banker Realty in April 2024 to join Lamacchia Realty , but she recently made the decision to return. “I’m very excited to be back and working with my esteemed colleagues,” Walsh said in a statement.
Appraisal Buzz
OCTOBER 9, 2024
Early estimates from CoreLogic have found that 500,000 single-family and multifamily homes in Tampa Bay and Sarasota, Florida metropolitan areas with a reconstruction cost value (RCV) of approximately $123 billion are at potential risk of storm surge damage from Hurricane Milton. According to Weather.com , Milton is currently a Category 4 Hurricane, with winds gusting up to 145 miles per hour as of 11 a.m.
Housing Wire
OCTOBER 9, 2024
If commission rates drop significantly as a result of the National Association of Realtors antitrust lawsuit settlement, it’s potentially an existential threat to many brokerages. But which ones and how many? Data from AccountTECH might bring us closer to an answer. Based on a sample of 100 brokerages of varying sizes and expenditures, the data shows a general trend of larger brokerages being more sensitive to a drop in commission rates than smaller ones.
Appraisal Buzz
OCTOBER 9, 2024
Mortgage application volume fell 5.1% last week as rates went back on the rise, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. For the week ended Oct. 4, applications for refinances plummeted 9% compared with the previous week but were up 159% compared with the same week one year ago. Applications for purchases decreased 0.1% compared with the previous week but were up 8% compared with the same week one year ago.
Housing Wire
OCTOBER 9, 2024
Zillow Group is continuing its quest to become a one-stop shop to serve all the needs of a real estate agent. On Tuesday, the residential real estate giant announced the acquisition of Virtual Staging AI (VSAI). The financial terms of the deal were not disclosed. Founded in 2023 by Michael Bonacina and Mikhail Andreev, VSAI helps home sellers, agents and photographers create digitally staged images of a listing, eliminating the need for physical furniture in the home. “ We’re excited to bring th
Appraisal Buzz
OCTOBER 9, 2024
Jim Harper has been promoted to chief financial officer at national mortgage lender Waterstone Mortgage. Harper joined Waterstone Mortgage as vice president, accounting and finance in June of this year. He has more than 25 years of experience in the financial services industry, including seven years of work within the mortgage industry. Before joining Waterstone Mortgage, Harper served as CFO for Summit Mortgage Corp. and lead financial officer for Ameriprise Financial.
Housing Wire
OCTOBER 9, 2024
In its ongoing battle with CoStar , the parent company of Realtor.com is not giving up without a fight. Initially filed by Move Inc. in July, the lawsuit centers on James Kaminsky, a former Realtor.com employee who went to work at CoStar-backed Homes.com after being laid off by the Move subsidiary. In the suit, Move alleges that Kaminsky stole documents and trade secrets from Realtor.com, which he then provided to CoStar to fuel the rapid growth of Homes.com.
Appraisal Buzz
OCTOBER 9, 2024
MIAC Analytics is handling the sale of a $292.91 million Fannie Mae, Freddie Mac, and Ginnie Mae mortgage servicing rights portfolio with $292.91 million in unpaid principal balance. The portfolio is being offered by a mortgage company that originates loans with a concentration in California. The number of loans was not specified. They are of recent vintage.
Housing Wire
OCTOBER 9, 2024
In a recent episode of “The Loan Officer Podcast,“ hosts Dustin Owen and John Coleman sit down to expose common mortgage industry myths that can impact everyone from the media to recruiters and branch managers. To start the episode, Owen dives into media misconceptions concerning the Federal Reserve ’s interest rate cuts and their impacts on mortgage rates and home sales.
Appraisal Buzz
OCTOBER 9, 2024
Just for kicks, First American recently conducted an analysis of which National Football League divisions represent the most expensive housing markets. The firm’s analysis shows that the NFC West stands out as the most expensive division, in terms of the average home prices, while the AFC North emerges as the least expensive. The NFC West holds the top spot because it is home to three of the most expensive markets in the country: San Francisco, Los Angeles, and Seattle.
Housing Wire
OCTOBER 9, 2024
MIAC Analytics is marketing a large mortgage servicing rights portfolio on behalf of a lender with a big book of business in California. The portfolio consists of $292.91 million in Fannie Mae , Freddie Mac and Ginnie Mae servicing rights. The seller will be providing full representations and warranties on the portfolio , which has an average loan size of $343,383.
Appraisal Buzz
OCTOBER 9, 2024
In this episode of the Appraisal Buzzcast, we’re joined by David Sober, SVP of Enterprise Business Development at Voxtur. David shares his journey in the real estate industry, offers a preview of the upcoming MBA Annual Conference in Denver, and highlights the importance of mentorship through his work with MPact. Tune in for insights on the future of the industry and the mission to bring in fresh talent and ideas.
Housing Wire
OCTOBER 9, 2024
“Rules of the Game,” a popular interactive session from past annual meetings of the National Reverse Mortgage Lenders Association (NRMLA), returned in 2024 to the San Diego event that took place at the end of September. Hosted by reverse mortgage educators Dan Hultquist and Jim McMinn, the pair aimed to once again point out how guidelines can often be misunderstood in the reverse mortgage industry.
George Dell
OCTOBER 9, 2024
The upcoming UAD (Uniform Appraisal Dataset) was part of my presentation at the CRN (Collateral Risk Network) meeting at an appraiser conference in Las Vegas. The CRN panel was from a workgroup. That workgroup effort is for lender and AMC “readiness” for appraisal acquisition (ordering). This UAD topic is intertwined with the new integrated URAR […] The post New UAD: Threat, Opportunity, or Confusion?
Inman
OCTOBER 9, 2024
Sridhar Sharma, who's credited with developing Mr. Cooper's patented AI, has been promoted to a new role, and three new tech leaders are joining from other companies.
Eyes on Housing
OCTOBER 9, 2024
Approximately 2.3 million tax returns filed for tax year 2023 utilized the Energy Efficient Home Improvement credit (25C tax credit), according to the latest IRS clean energy tax credit statistics. Through May 23rd of the 2024 tax filing season for 2023 returns, almost 138 million tax returns had been filed with the IRS, which indicates.
Inman
OCTOBER 9, 2024
The entrepreneur and founder of Inman Group gets why people don't want to stand out. But there's also risk in letting dreams go unfulfilled, he told the audience at an Inman real estate conference in Austin.
Appraisal Buzz
OCTOBER 9, 2024
Mortgage Capital Trading has integrated LoanDynamics Model (LDM) from Andrew Davidson & Co. (AD&Co) into its mortgage servicing rights (MSR) valuation software. LDM is a well-respected prepayment model for residential mortgages that will complement MCT’s proprietary prepayment model in MSRlive!, MCT says in a release. This integration allows MSR portfolio managers to leverage and compare both models, increasing confidence in the precision of their valuations and scenario testing.
Inman
OCTOBER 9, 2024
With legal and leadership challenges aplenty, what do you see as the most intractable problem for the National Association of Realtors today?
Eyes on Housing
OCTOBER 9, 2024
Real gross domestic product (GDP) increased in 49 states and the District of Columbia in the second quarter of 2024 compared to the last quarter of 2023 according to the U.S. Bureau of Economic Analysis (BEA). Alaska reported an economic contraction during this time. The percent change in real GDP ranged from a 5.9 percent.
Inman
OCTOBER 9, 2024
Inman Connect Austin kicked off with a spirited debate about Clear Cooperation and the disconnect between brokerage leaders and agents over whether to keep it.
BiggerPockets
OCTOBER 9, 2024
The BRRRR strategy (buy, rehab, rent, refinance, repeat) is based on finding discounted properties, fixing them up, renting them out, refinancing, and socking away the cash flow with a long-term tenant, and repeating the process until you have amassed a sizable monthly cash flow. In 2024, I largely believe that it's unrealistic.
Inman
OCTOBER 9, 2024
In this exclusive video series on Inman, Windermere’s Principal Economist Jeff Tucker illuminates the latest stats, reports and numbers you should know. This week: The latest employment numbers.
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