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Chase Home Lending , the consumer and commercial banking arm of JPMorgan Chase & Co. , has raised its closing guarantee from $5,000 to $20,000 until July 27, 2024, the bank announced on Thursday. The guarantee means that the bank promises an on-time closing on or before the contract closing date, or it will pay the homebuyer $20,000. This grant can be used to discount underwriting fees paid at closing, or to reduce the interest rate and down payment.
Hello, dear readers! Thank you for being here! Many homeowners have decided not to sell their homes but to renovate them instead. If you find yourself in this situation, this article will provide you with a guide that may be helpful to you. This week, I invite back a guest blogger, Tina Martin. I hope you enjoy her article! Planning for a Home Renovation: A Guide When it comes time to renovate your home, there are a few things you should know.
At “ The Gathering ” this year, every room seemed to share a certain buzz. Conversations across panels, roundtables, announcements, and everywhere in between seemed to trend toward the same general topic: How do we make the most of a market that continues to offer as many challenges as it does chances? Expectations for real estate professionals are higher than ever—along with mortgage interest rates , the length of time that listings spend on the market, and the percentage of listings off-mark
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.
The East Coast and Midwest stand out as prime locations for veterans and current military service members, according to the 2024 Best Cities for Veterans to Live list compiled by Veterans United Home Loans. Tampa emerged as the top metro area for veterans. It was followed by Rochester, Minnesota; Wichita Falls, Texas; Fargo, North Dakota; Virginia Beach, Virginia; Watertown, New York; Charleston, South Carolina; Medford, Oregon; Altoona, Pennsylvania; and Sioux Falls, South Dakota.
Company leaders hosted a livestream to discuss NAR settlement outcomes, including buyer agreements and how to talk to sellers about buy-side compensation.
Company leaders hosted a livestream to discuss NAR settlement outcomes, including buyer agreements and how to talk to sellers about buy-side compensation.
Redfin is expanding its Redfin Next agent payment plan into 25 new markets starting in August 2024. In an announcement on Friday, Redfin said that the payment plan would be rolling out Aug. 11 in the following markets: Austin; Boise, Idaho; coastal North Carolina; Columbus, Ohio; Denver; Fort Myers, Florida; Grand Rapids, Michigan; Indianapolis; Inland Empire, California; Kansas City, Missouri; Memphis; Minneapolis; Nashville; New Mexico; Palm Springs, California; Portland, Oregon; Raleigh; Sacr
An NAR/Realtor.com study on the effects of rate reductions and price cuts found that a 1% mortgage rate decline could put a noticeable dent in monthly payments.
Financial planners are an important referral source for reverse mortgage professionals, and Finance of America (FOA) vice president of retirement strategies Steve Resch has been at the head of the company’s conversations with planners to help them understand how much utility a reverse mortgage could have for improving a client’s retirement. In this second part of a recent discussion , Resch explains how financial planner conversations about reverse mortgages have evolved in recent years, a
Zillow launches BuyAbility tool; Bright MLS teaming up with TrustFunds; Planitar adds interactive Lead Magnet to 3D tours; Revive shows value of renovation.
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.
Keller Williams ’ International Association Leadership Council (IALC) has rescinded the recent changes to its profit-sharing program, according to an announcement on Friday. The changes were first announced in August 2023 during KW’s Mega Agent Camp event. Under the changes, the company cut profit-share distribution for vested “former” KW agents — those who joined the company before April 1, 2020, and left for another brokerage — from 100% to 5%.
Now is the time to expand your skill set, broaden your knowledge and provide value at a higher level than you’ve ever provided, Jimmy Burgess writes, so that you won't just survive, you'll thrive.
As a real estate agent , you’re in the business of helping people plan for their future — whether it’s helping prospective buyers find their forever home, starter house , or next investment property. But when it comes to planning for your future, it’s important to start early. Saving for retirement is crucial so you can lead the life you envision after you’ve sold your last home.
Brad Vasto has joined Asurity Technologies, which offers consumer lending compliance software and advisory services, as senior vice president – sales. Vasto has more than 30 years of experience in meeting the needs of the mortgage, banking, and financial services industries. Prior to joining Asurity, he spent 19 years at Black Knight and its predecessor companies as managing director of business development.
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 Federal Housing Administration (FHA) this week published a mortgagee letter (ML) amending a 2022 requirement for mortgage lenders, and anyone seeking to do business with FHA, to obtain a Unique Entity Identifier (UEI) in order to be eligible for such business. In ML 2024-09, the agency’s UEI policy for FHA-approved lenders has been updated to streamline reporting requirements from a policy established in the summer of 2022 and implemented by the end of that year.
STRATMOR Group and Teraverde have merged to create a powerhouse mortgage advisory firm poised to serve clients across entire mortgage banking spectrum. Both firms will operate under the STRATMOR brand in the near future. The new firm combines each company’s respective programs, technology, and subject-matter expertise to deliver superior advisory solutions to now serve the entire mortgage banking spectrum.
Donald R. Horton, founder and chairman of D.R. Horton , the largest homebuilder by volume in the U.S., has died at the age of 74, the company announced on Friday morning. Board members have named David V. Auld as executive chairman, effective immediately. Horton, who was involved in the real estate and homebuilding industries since 1972, served as chairman of D.R.
The median U.S. home sale price increased 6.2% year over year in April to $433,558 — the highest level on record, according to Redfin. Today’s housing market is much slower than it was during the pandemic home buying boom, but prices continue climbing due to low inventory. New listings increased 1.7% month over month in April and were up 10.8% year over year.
About two months after resigning as the 18th secretary of the U.S. Department of Housing and Urban Development (HUD), Marcia Fudge has joined law firm Taft as a partner and chair of public policy, the company announced this week. Fudge will “dedicate a portion of her time to the firm’s ongoing efforts to combat the harmful effects of forever chemicals” and bolster the firm’s relationships with “governmental and corporate leaders both in her home state of Ohio and across the United States,” the l
Mortgage industry veteran David Vida has joined subservicer LoanCare as executive vice president, chief revenue officer. Vida is a seasoned leader with a robust background in residential mortgage servicing and originations-related services. He has over 30 years of experience and most recently served as chief operating officer at Weston Portfolio Group.
Mortgage advisory firm Stratmor Group has merged with Teraverde , a mortgage advisory firm and technology solutions provider, in a deal that the companies say will allow them to expand the markets they serve and the depth of services provided. The terms of the deal were not disclosed. Both firms will operate under the Stratmor brand , the companies said in a statement on Friday.
Nonfarm payroll employment increased in 38 states and the District of Columbia in April compared to the previous month, while 11 states saw a decrease. Alaska reported no change during this time. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 175,000 in April, following a gain of 315,000 jobs.
Roofstock , a real estate services and investment platform, is merging with housing operator Mynd , the companies announced on Thursday. Both firms guide real estate investors in buying, selling and managing single-family rental (SFR) homes across the country. The unified platform will offer real estate investors robust technology, deep data insights and a property management system specifically designed for SFRs.
Nation's largest mortgage lender says brokers "will no longer need to work with a title company or settlement agent for title work, balancing fees, scheduling closing or any related communication.
The National Reverse Mortgage Lenders Association (NRMLA) this week announced that Jonathan Scarpati, senior vice president of wholesale production at Finance of America (FOA), has joined its board of directors for the remainder of the 2024 term. Scarpati is a 20-year reverse mortgage industry veteran, having joined Senior Lending Network in 2003 as vice president of sales for the company’s wholesale and lead distribution divisions.
According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts declined significantly during the first quarter of 2024. For the quarter, 80,000 multifamily residences started construction. Of this total, 75,000 were built-for-rent. This marks a notable 39% decline from the first quarter of 2023 for the multifamily built-for-rent category.
Now is the time to expand your skill set, broaden your knowledge and provide value at a higher level than you’ve ever provided, Jimmy Burgess writes, so that you won't just survive, you'll thrive.
VantageScore has released the newest version of its credit-scoring model, VantageScore 4plus. The new version combines the power of alternative open banking data with traditional credit data to give lenders a substantial predictive lift of up to 10% compared to the industry leading VantageScore 4.0 credit score, which itself has up to an 8% lift over conventional scoring models.
The cuts, initially approved last summer, were set to go into effect this July. But as of this spring, Keller Williams was facing multiple class action lawsuits over the changes.
Single-family built-for-rent construction posted year-over-year gains as of the first quarter of 2024, as builders sought to add additional rental housing in a market facing ongoing, elevated mortgage interest rates. According to NAHB’s analysis of data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design, there were approximately 18,000 single-family built-for-rent (SFBFR) starts.
In the face of so much rapid change and an often-frustrating lack of clarity from The Powers That Be, what the heck are you supposed to tell your buyers and sellers now?
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