Tue.Feb 13, 2024

article thumbnail

U.S. foreclosure activity ticked up significantly in January: Attom

Housing Wire

In January, the number of properties with a foreclosure filing inched up on both a monthly and a yearly basis, according to a report released Tuesday by Attom Data. In total, 33,270 U.S. properties received a default notice, were scheduled for auction or were undergoing bank repossession last month, up 10% from December and up 5% compared to a year ago.

Legal 472
article thumbnail

Don’t count on rate cuts in the first half of 2024

Real Estate News

Economists say inflation is not falling fast enough to convince the Federal Reserve to lower interest rates.

252
252
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

CPI inflation report shows the Fed loves playing with fire

Housing Wire

Today’s CPI inflation report was the craziest inflation report I have ever seen in my life. The progress in inflation is still intact as we have fallen so much from last year’s growth rate, but the Owners’ Equivalent Rent of Residences (OER) inflation has diverged from all the shelter rent data in the most prominent fashion I have ever seen, which boosted this report higher than it should have been.

Mortgage 468
article thumbnail

Almost 20% of Realtors pay for multiple MLSs, but for how long?

Real Estate News

Commissions lawsuits could accelerate consolidation and evolution — and save agents money, according to a new report on MLSs and Realtor associations.

Realtors 244
article thumbnail

Unlock The Blueprint: How To Construct A Better Payment Workflow

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 With construction projects becoming more complex, outdated processes are no longer sustainable.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.

article thumbnail

Guild strikes a deal to acquire Academy Mortgage Corporation: sources 

Housing Wire

Guild Mortgage has struck a deal to acquire retail rival Academy Mortgage Corporation , which could result in an additional 800-plus loan officers across the country, multiple sources told HousingWire. During an all-hands call Tuesday morning, Academy’s leadership informed employees about the M&A deal , which is expected to close in mid-April. Academy CEO Adam Kessler told staffers that he had been seeking for either private capital or an acquirer due to the challenging mortgage landscape.

Mortgage 458

More Trending

article thumbnail

Master planned communities post strong new home sales numbers in 2023

Housing Wire

Despite high mortgage rates , master planned communities (MPCs) did well in 2023. According to a survey released Tuesday by John Burns Research & Consulting , the top 50 MPCs sold more than 34,600 new homes in 2023, up 24% from the nearly 28,000 sales in 2022. As a point of comparison, in the benchmark year of 2019, 31,000 new homes were purchased in the top 50 master planned communities.

Buyers 445
article thumbnail

Surround Yourself With Success

The Appraiser Coach

I’ve talked many times about the principle of the mastermind. Napoleon Hill, who was one of the first people to talk about it, described it this way: when you get more than 2 people in a room with similar backgrounds, similar needs, and similar goals, then you form an additional entity (paraphrasing). This is the mastermind. It is the power of communication and connection with other people.

Business 195
article thumbnail

Mortgage tech firm TRAiNED hires two executives from Sales Boomerang

Housing Wire

Mortgage tech firm TRAiNED Inc. hired two executives as it looks to take the company to its next phase of development. TRAiNED named Mark Cunningham, a co-founder of Sales Boomerang , as its new CEO. It also hired Arend de Jong , co-founder and former chief financial officer of Sales Boomerang, as CFO, the company announced. Cunningham brings more than 20 years of experience, including stints at the U.S.

Training 423
article thumbnail

Top Bay Area team boomerangs back to Compass from Side

Inman

Mollie Poe and Declan Hickey were founding members of Compass San Francisco before leaving in 2020. Now, they're bringing four additional team members back to Compass with them.

Realty 191
article thumbnail

Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

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.

article thumbnail

U.S. inflation hotter than expected in January

Housing Wire

The Consumer Price Index rose more than forecasted in January, highlighting again the bumpy road to disinflation. Consumer prices were up 3.1% in January from a year earlier, down from 3.4% in December, according to data released by the Bureau of Labor Statistics on Tuesday. On a monthly basis, the index increased by 0.3%, the biggest monthly increase since September.

Finance 422
article thumbnail

Is your business on life support? Check the health of your database

Inman

Frustrated with a lack of leads or a lack of conversions? Troy Palmquist offers insights and tools to help you give your CRM a check-up.

Business 188
article thumbnail

Real estate agents: Do these 5 things in the next 3 months

Housing Wire

Now is the time to make the rest of this first quarter and early second quarter count! The more conversations you can have this quarter, the stronger your year will be. Your focus should be to set appointments and get in front of people. Here are the five things you should do to ramp up your production for the year ahead. 1. Get in front of people It’s critical to talk to every lead you can.

article thumbnail

Airbnb earned $10B last year, more than double pre-pandemic

Inman

The company earned $9.9 billion in total revenue for the year, nearly half of which was company profit. That is more than double the total revenue the company earned in 2019, before the pandemic upended travel.

article thumbnail

Logan Finance Corp. hires new COO

Housing Wire

New York-based mortgage lender Logan Finance Corp. named Sarah Gonzalez as its chief operating officer. Gonzalez will be in charge of planning and executing the lender’s objectives and initiatives, according to her LinkedIn profile. She brings more than 25 years of experience in the mortgage industry to her new position. Gonzalez’s most recent position was at Panorama Mortgage Group , where she served as president and COO since January 2022.

Finance 393
article thumbnail

Inflation Remains Sticky due to Persistent Housing Costs

Eyes on Housing

Consumer prices picked up again in January while core prices remained elevated, especially housing costs. Despite a slowdown in the year-over-year increase, shelter costs continue to put upward pressure on inflation, accounting for over two-thirds of the total increase in all items excluding food and energy. This hotter-than-expected report will almost certainly delay Fed rate cuts until the second half.

175
175
article thumbnail

Sagent taps Geno Paluso as new CEO

Housing Wire

Fintech Sagent has hired Geno Paluso, a retired U.S. Navy captain serving as the vice president of business development for multinational firm BAE Systems , as its new CEO. Effective Monday, Paluso succeeded Dan Sogorka, who will remain with the company as an adviser before transitioning to a new opportunity, the company announced Tuesday. Paluso is transitioning from BAE Systems, a $45 billion multinational aerospace and technology company, to lead Warburg Pincus -backed Sagent, a softwar

article thumbnail

How to justify your commission with a Buyer Bill of Rights

Inman

As the real estate landscape changes, thanks to recent commission-related lawsuits, pressure is being levied on buyer agents to demonstrate their value to potential clients.

Buyers 171
article thumbnail

Dearth of new construction strains migration hotspot of Alabama

Housing Wire

Century 21 Regency Realty agent Cheryl Piccinini has lived and traveled all over the world, but there is no place she would rather be than Alabama. “No matter what you want, you can find it here,” the Enterprise, Alabama-based agent said. “You can find the city, the country. We’ve got beaches. It is just an amazing place.” Clearly, Piccinini isn’t the only one who thinks so.

article thumbnail

Guild Mortgage set to acquire, rebrand Academy Mortgage

Inman

Upwards of 1,000 Academy Mortgage employees will make the transition to Guild, including more than 600 originators, Guild said in announcing the sixth acquisition in three years.

Mortgage 171
article thumbnail

ICE strikes multiyear deal with MLS-owned REdistribute 

Housing Wire

Intercontinental Exchange (ICE) announced a multiyear licensing agreement with REdistribute for permissioned access to multiple listing services (MLS) information. The deal, in addition to existing agreements with the Realty Alliance and the National Association of Realtors , brings ICE’s MLS data coverage to more than 90% of active listings across the country.

article thumbnail

WATCH: The Zillow ‘super app’ is kind of already out there

Inman

Zillow President Susan Daimler talked with Inman founder Brad Inman about the new "super app" the company has been talking about building.

163
163
article thumbnail

HUD announces new aid for Maui, Native Hawaiians

Housing Wire

The U.S. Department of Housing and Urban Development (HUD) announced a series of new relief measures for residents of the state of Hawaii. One measure is targeted specifically for the island of Maui — which endured a devastating wildfire last year that destroyed the town of Lahaina — while the other is designed to expand rental assistance for Native Hawaiians residing on the islands.

article thumbnail

ERA president offers 5 tips for brand new real estate agents

Inman

ERA's Alex Vidal offers words of wisdom and advice for real estate agents launching their careers in the uncertain 2024 market.

article thumbnail

The Super App is here — and it’s called Zillow

Housing Wire

In early 2022, real estate listing giant Zillow began discussing its visions for a “Housing Super App.” After initial confusion and skepticism over the app, Zillow’s vision has slowly become clearer. On Tuesday, roughly two years since Zillow first announced it, the firm’s CEO and co-founder Rich Barton said the Super App is here. “It’s called Zillow,” Barton told investors and analysts listening to Zillow’s Q4 2023 earnings call Tuesday evening.

Agents 358
article thumbnail

Anywhere Real Estate appoints new chief technology officer

Inman

Former Capital One executive Rudy Wolfs is Anywhere's new chief technology officer. As CTO, Wolfs will lead the franchisor's tech and product strategy, which includes recruiting more tech talent and streamlining the company's suite of products for brokers and agents.

article thumbnail

FOA’s Sieffert on building a united company culture, going on ‘offense’ in 2024

Housing Wire

Bringing awareness to potential opportunities in the reverse mortgage space can be a challenge, but Kristen Sieffert, president of Finance of America Companies (FOA), says it’s a task she’s more than willing to take on. After being promoted to the role of president following the FOA acquisition of former industry-leading lender American Advisors Group (AAG), Sieffert sat down with HousingWire President Diego Sanchez for a “ Ten Minute Talk ” to go deeper into her new role.

Finance 342
article thumbnail

Why I Still Love Real Estate Appraising

DW Slater Company

Love in Real Estate I’m I wrote this blog – 4 Things I Love About Being a Real Estate Appraiser- 10 years ago! So much has changed since that time! We have experienced some very large swings in the market regarding the number of appraisals needed from a very high volume where appraisers couldn’t keep up, to the now very low volume of appraisal requests.

article thumbnail

California HAF requirements extended in bid to entice more beneficiaries

Housing Wire

The state of California has extended the eligibility rules for its mortgage relief program, funded by the Homeowner Assistance Fund (HAF) allocation in the American Rescue Plan Act of 2021. The relief — which is available to reverse mortgage borrowers — is designed to assist anyone who has fallen behind on their mortgage payments due to the economic shock of the COVID-19 pandemic.

article thumbnail

Loans for commercial and multifamily buildings fell 25% in Q4

Inman

Loans for office buildings specifically dropped 68 percent year over year and 32 percent quarter over quarter.

Lending 150
article thumbnail

How to manage the complexities of non-QM and private lending

Housing Wire

Gregory Meola, managing director, head of business development & strategy, Acra Lending Rather than formulaic QM lending, non-QM lending can be more complex. Setting up systems to handle these complexities takes significant time and effort, but once completed, provide a tailored loan program for a borrower. Gregory Meola, managing director and head of business development & strategy for Acra Lending explains the process and how technology can be a boon to streamlining the process.

Lending 316
article thumbnail

Which subscriptions consistently provide bang for your buck? Pulse

Inman

When you're watching your pennies, those repeating subscriptions and memberships can add up. Which ones are worth paying for?

Agents 148
article thumbnail

Hometap reaches $1B in home equity investments 

Housing Wire

Boston-based fintech company Hometap has deployed more than $1 billion in home equity investment (HEI) products since its launch in 2017, the company announced on Tuesday. Of the $1 billion total, $730 billion has been deployed since 2022, and the company has issued more than 10,000 HEIs in total as of January. “This milestone is a testament to the momentum our platform has achieved over the last six years due to the increased awareness of and demand for home equity products, including home equ

Investing 314