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According to new research from Clever Real Estate , a St. Louis-based real estate company, homebuyers spend an average of $31,975 in homebuying expenses, such as closing costs, repairs, and moving, in addition to their down payment. The costs are broken down into the following: Repairs and renovations: $13,498 Furniture, fixtures, and appliances: $6,446 Closing costs: $4,754 Concessions to seller: $3,943 Moving costs: $2,670 Private mortgage insurance: $387 annually Home inspection: $277 The rep
With fluctuating mortgage rates and economic pressure in the housing market, foreclosure activity ramped up in October 2024. According to real estate data provider Attom , homebuyers may face more challenges heading into 2025. Attom released its October 2024 U.S. Foreclosure Market Report on Tuesday. It showed that 30,784 properties had foreclosure filings last month.
The mortgage servicing landscape has long been a crucible of change, where today’s decisions lay the groundwork for the industry’s future. Servicing teams must manage shifting delinquency rates, regulatory demands that may pivot with each new administration, and ever-increasing operational costs while keeping their fingers on the pulse of the modern consumer and advancing technology.
The U.S. finds itself in a “troubling environment” for bolstering Black homeownership as evidenced by two key — and lagging — metrics. This is according to the 2024 State of Housing in Black America (SHIBA) report published this month by the National Association of Real Estate Brokers (NAREB). “The two best-performing demographics for African Americans — Black female-headed households and millennials — both declined in home sales in 2023,” the organization explained in an announcement of the rep
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.
According to ATTOM ‘s October 2024 U.S. Foreclosure Market Report, 30,784 properties in the U.S. had foreclosure filings, such as default notifications, scheduled auctions, or bank repossessions. This represents an 11% decrease from a year ago but a 4% increase from a month ago. “Foreclosure activity remains challenging for U.S. homeowners, with starts and completed foreclosures up in October,” said Rob Barber, CEO of ATTOM.
Compass is certainly known for luxury property sales , but the nation’s top brokerage based on sales volume is looking to offer even more support to agents working on these types of deals. On Tuesday, the firm launched Compass Resort, a network for agents in vacation-home markets and clients searching for second homes. Compass Resort will be led by agents Jordie Karlinski, Jack Pearson, Jen O’Hanlon and Steve Springer.
Compass is certainly known for luxury property sales , but the nation’s top brokerage based on sales volume is looking to offer even more support to agents working on these types of deals. On Tuesday, the firm launched Compass Resort, a network for agents in vacation-home markets and clients searching for second homes. Compass Resort will be led by agents Jordie Karlinski, Jack Pearson, Jen O’Hanlon and Steve Springer.
The housing trends that will shape our homes in the coming year have been revealed by Zillow based on new statistics. In 2025, home purchasers and homeowners will design cozy, environmentally friendly, and climate-resilient homes by fusing the newest technology with vintage, rustic beauty. This implies that 19th-century sculleries, antique fittings, and comfortable home libraries will coexist with amenities like EV chargers and whole-house batteries.
Better Home & Finance Holding Co., the parent of digital lender Better , reported a net loss of $54.1 million in the third quarter of 2024 during an earnings call on Tuesday. By comparison, the company lost $41.4 million in Q2 2024 and $353.9 million in Q3 2023. Better reported third-quarter revenue of $29 million, down from $32.3 million in the prior quarter but up from $4.9 million in the same period a year ago.
Less than one-third (32.1%) of renter households pay under $1,000 in monthly rent—the lowest share on record, according to a new report from Redfin. That total is down nearly 10% from 2022’s reported share of 35.2%, and nearly 20% since 2012 (50.4%). Most (47.9%) renter households pay between $1,000 and $1,999 per month, while nearly 15% (14.4%) pay $2,000-$2,999, and 5.7% pay $3,000 or more.
In a new episode of “The Loan Officer Podcast,” host Dustin Owen chats with John Cornish of Iowa-based Key Mortgage Group about his path into the industry, tips for scaling a mortgage lending business and how to avoid stagnation as a loan originator. This interview has been edited for length and clarity. To kick off the conversation, Cornish explores his background before entering the mortgage lending industry.
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.
On this week’s episode, we sit down with Jake Williamson, Fannie Mae’s Senior Vice President of Single Family Collateral Risk and Loan Quality, to explore the exciting advancements reshaping the appraisal industry. From the new UAD to recent tech advances, Jake shares insights on how technology and data are transforming the way appraisals are done.
The Home Depot Foundation — the philanthropic arm of the home improvement retail conglomerate — announced that it is investing $10 million for the purpose of enabling older military veterans to age in place in their homes. The goal is to help them avoid homelessness by funding affordable housing construction, home repairs and adaptations as well as giving out financial assistance.
A law professor says the court doesn’t have the authority to force objectors to attend in person, while in Pennsylvania, Howard Hanna’s dismissal is appealed.
Movement Mortgage has named Steve Smith, a mortgage veteran who most recently served as Movement’s executive advisor, as its new president and chief financial officer. Smith will lead teams across sales, operations, finance, servicing and corporate functions at the South Carolina-based mortgage lender that originated about $16 billion in mortgage loans from January to September, up 2.7% compared to the same period last year, according to Inside Mortgage Finance (IMF).
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.
The HousingWire award spotlight series highlights the individuals and organizations that have been recognized through our Editors’ Choice Awards. Nominations for HousingWire’s 2025 Tech100 Award are open now through December 16, 2024. Click here to nominate a tech organization. For the past 13 years, HousingWire’s Tech100 Award program has provided HousingWire readers with a definitive list of the tech solutions companies that are streamlining processes, enhancing customer experience and improvi
Want to repeal the CCP? Then you shouldn’t be able to build your own listing networks while pulling from the cooperative MLS feed, says eXp CEO Leo Pareja.
Fathom Holdings announced another round of key leadership promotions. On Wednesday, company promoted Jon Gwin to chief revenue officer and Samantha Giuggio to president of Fathom Realty and chief operations officer of Fathom Holdings. Gwin and Giuggio join Fathom’s leadership as the latest promotions following Joanne Zach’s move to chief financial officer on Nov. 6.
CaseMax , a provider of case management systems, is enhancing service delivery for Indianapolis-based Voyager Title , which handles all aspects of residential and commercial real estate closings. Voyager Title is currently expanding into Kansas, Missouri and Virginia. Voyager Title’s decision to integrate CaseMax’s sophisticated case management platform underscores the system’s flexibility and adaptability beyond traditional law firm applications, CaseMax says in a release.
The National Association of Realtors (NAR) is facing yet another lawsuit related to its three-way membership agreement, which requires Realtors to join their local, state and national associations in order to obtain access to the MLS. The suit was filed Nov. 1 in U.S. District Court in Los Angeles by John Diaz, a broker at UHOO Real Estate Services , who is representing himself pro se.
U.S. household debt – including mortgage debt – reached a record $17.94 trillion in the third quarter, according to a WalletHub report that uses data from the Federal Reserve Bank of New York. After adjusted for inflation, that figure is roughly 6% below the record set in 2008. WalletHub also released a new nationally representative survey gauging how households are dealing with debt.
Reverse mortgage educators Dan Hultquist and Jim McMinn brought their “Rules of the Game” presentation back to this year’s National Reverse Mortgage Lenders Association (NRMLA) Annual Meeting and Expo in San Diego. After starting with the importance of focused information and certain reverse mortgage product features , the pair went deeper into other longstanding elements that some industry participants might be misinformed about.
SELLING AND MOVING DURING FLORIDA'S PEAK SEASON First and foremost, selling and buying during Florida’s peak season can be a whirlwind of excitement and challenges. The market during the peak season is bustling with buyers eager to find the right home, giving sellers a great chance to attract attention. In fact, winter in Florida is one of the best times of year to sell your home , since the weather is milder, and snowbirds are beginning to make their way to the sunshine state.
Inflation picked up again in October, showing the last mile to the 2% target will be the hardest. Shelter costs remained the main driver of inflation, accounting for over 65% of the 12-month increase in the all items less food and energy index. However, the year-over-year change in the shelter index has been below 5%.
During the first nine months of the year, Matterport pulled in a total of $125.8 million in revenue. Most of that is from recurring services and subscriptions.
ACES Quality Management , which offers quality control software to the mortgage industry, reports that it recently added 10 new credit union clients to its roster. As a result, ACES now serves six of the largest credit unions in the U.S., which are now using the ACES’ platform to bolster risk management. Among the new clients are State Employees Credit Union of North Carolina, Lake Michigan Credit Union and Arizona Financial Credit Union.
The relatively new team made up of seasoned professionals has already made a big splash in Atlanta, ranking as the No. 5 medium team by sales volume, according to RealTrends.
The bill shifts the responsibility for broker fees from renters to property owners in hopes of easing affordability woes. However, opponents of the bill say it will only raise costs for renters in the long run.
Having pivoted from refinancing to purchase loans, CEO Vishal Garg says investment in AI technology and partnerships with retailers like NEO Home Loans will fuel cost-effective growth.
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