Housing Wire
NOVEMBER 13, 2024
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.
Appraisal Buzz
NOVEMBER 13, 2024
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
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Housing Wire
NOVEMBER 13, 2024
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
Appraisal Buzz
NOVEMBER 13, 2024
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.
Housing Wire
NOVEMBER 13, 2024
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.
Appraisal Buzz
NOVEMBER 13, 2024
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.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Appraisal Buzz
NOVEMBER 13, 2024
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.
Housing Wire
NOVEMBER 13, 2024
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.
Appraisal Buzz
NOVEMBER 13, 2024
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.
Housing Wire
NOVEMBER 13, 2024
In today’s challenging market, higher interest rates and home values have created a unique opportunity for lenders to grow their home equity lending business. Despite the recent interest rate reduction , the demand for home equity products remains strong. Homeowners want to maintain their historically-low interest rates while waiting for rates sink further in the future.
Appraisal Buzz
NOVEMBER 13, 2024
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.
Housing Wire
NOVEMBER 13, 2024
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).
Appraisal Buzz
NOVEMBER 13, 2024
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.
Housing Wire
NOVEMBER 13, 2024
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.
Appraisal Buzz
NOVEMBER 13, 2024
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.
Housing Wire
NOVEMBER 13, 2024
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.
George Dell
NOVEMBER 13, 2024
Gen AI is an emerging technology that has gone viral. But what actually is AI. The following was taken from a course offered by Coursera “AI Essentials”. “To begin this AI journey, let’s start by examining what the term artificial intelligence really means. In this context, intelligence refers to the human ability to perform cognitive tasks. […] The post Can Gen AI Solve the Adjustment Support Paradigm?
Housing Wire
NOVEMBER 13, 2024
Rocket Companies , the parent of Rocket Mortgage , paid a reported $14 million to acquire the domain name Rocket.com. The purchase, which was initially reported by DomainInvesting.com, was said to be from defense contractor L3Harris Technologies Inc. Rumors of the deal began in early September. The transaction was referenced in a recent filing by L3Harris with the Securities and Exchange Commission ( SEC ).
Real Estate News
NOVEMBER 13, 2024
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.
Housing Wire
NOVEMBER 13, 2024
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.
Real Estate News
NOVEMBER 13, 2024
Agents with Compass Resorts go beyond white-glove treatment and become "more like wealth managers" to support clients in this space, its founders say.
Housing Wire
NOVEMBER 13, 2024
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.
Real Estate News
NOVEMBER 13, 2024
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.
Housing Wire
NOVEMBER 13, 2024
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.
Appraisal Buzz
NOVEMBER 13, 2024
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.
Housing Wire
NOVEMBER 13, 2024
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
Inman
NOVEMBER 13, 2024
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.
Eyes on Housing
NOVEMBER 13, 2024
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%.
Inman
NOVEMBER 13, 2024
Inman contributor Gerard Splendore explores how kitchens and bathrooms have evolved through the decades, reflecting key historical shifts and design trends.
BiggerPockets
NOVEMBER 13, 2024
When I first dipped my toes into the world of house flipping, I was filled with excitement and a fair share of naiveté.
Inman
NOVEMBER 13, 2024
Understanding different periods of design and architecture will give agents an advantage with clients, both sellers and buyers, Gerard Splendore writes. In the 1920s, kitchens were geared toward food preparation and serving, less so for storage and may lack cabinet space.
Mortgagebroker News
NOVEMBER 13, 2024
Without reduced fees and faster approvals, Ontario could face worsening housing shortage
Inman
NOVEMBER 13, 2024
Changes to industry rules and regulations? Economic hurdles? What's the biggest challenge you're facing right now, and what do you plan to do about it?
Mortgagebroker News
NOVEMBER 13, 2024
Move aligns with intensified mortgage competition among Canadian banks
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