Housing Wire

MAY 17, 2024

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.

Lending 477

Lending Real Estate Agent Contracts Government 477

Cleveland Appraisal Blog

MAY 17, 2024

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.

Renovations 323

Renovations Appraisal Logistics Decorating 323

Housing Wire

MAY 17, 2024

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

Real Estate 477

Real Estate Technology Business Brokerage 477

Real Estate News

MAY 17, 2024

President and CEO Mark Willis called the move “unprecedented," and said the vote by the company’s agent-led IALC passed by an “overwhelming majority.

Agents 306

Agents 306

Housing Wire

MAY 17, 2024

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.

Mortgage 468

Mortgage Marketing Housing Market 468

Real Estate News

MAY 17, 2024

Company leaders hosted a livestream to discuss NAR settlement outcomes, including buyer agreements and how to talk to sellers about buy-side compensation.

Sellers 290

Sellers Buyers 290

Real Estate News

MAY 17, 2024

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.

Mortgage 264

Mortgage 264

Housing Wire

MAY 17, 2024

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

Mortgage 459

Mortgage Clients Tools Finance 459

Real Estate News

MAY 17, 2024

Zillow launches BuyAbility tool; Bright MLS teaming up with TrustFunds; Planitar adds interactive Lead Magnet to 3D tours; Revive shows value of renovation.

Renovations 264

Renovations Tools 264

Housing Wire

MAY 17, 2024

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.

Real Estate Agent 457

Real Estate Agent Real Estate Agents Investing 457

Inman

MAY 17, 2024

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.

Real Estate Agent 199

Real Estate Agent Real Estate Agents Valuation 199

Housing Wire

MAY 17, 2024

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.

Government 455

Government Business Design Real Estate 455

Appraisal Buzz

MAY 17, 2024

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.

Technology 195

Technology Lending Business Development 195

Housing Wire

MAY 17, 2024

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.

Inventory 448

Inventory Development Real Estate Insurance 448

Appraisal Buzz

MAY 17, 2024

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.

Mortgage 195

Mortgage Clients Technology Business 195

Housing Wire

MAY 17, 2024

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

Law 447

Law Development Clients Marketing 447

Appraisal Buzz

MAY 17, 2024

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.

New Listings 195

New Listings Inventory Sellers Housing Market 195

Housing Wire

MAY 17, 2024

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.

Mortgage 447

Mortgage Technology Clients Business 447

Appraisal Buzz

MAY 17, 2024

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.

Clients 195

Clients Lending Business Technology 195

Housing Wire

MAY 17, 2024

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.

Property Management 445

Property Management Real Estate Investors Investing 445

Eyes on Housing

MAY 17, 2024

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.

Marketing 191

Marketing 191

Housing Wire

MAY 17, 2024

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.

Finance 444

Finance Retail Government Lending 444

Inman

MAY 17, 2024

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.

Insurance 178

Insurance Agents Mortgage Tools 178

Eyes on Housing

MAY 17, 2024

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.

Construction 165

Construction Marketing 165

Inman

MAY 17, 2024

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.

Real Estate Agent 174

Real Estate Agent Real Estate Agents Valuation 174

Appraisal Buzz

MAY 17, 2024

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.

Lending 150

Lending Appraisal 150

Inman

MAY 17, 2024

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.

Agents 174

Agents Realty Brokerage 174

Eyes on Housing

MAY 17, 2024

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.

Design 97

Design Construction Mortgage Marketing 97

Inman

MAY 17, 2024

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?

Clients 173

Clients Sellers Buyers Brokerage 173

BiggerPockets

MAY 17, 2024

We examine housing market indicators to explain why prices are not decreasing in more metros as demand drops and rates continue to rise.

Marketing 93

Marketing Housing Market 93

Inman

MAY 17, 2024

Based on estimates of Homes.com’s traffic increase, it's additive to the market and not affecting other portals’ traffic, Mike DelPrete writes. However, that’s not to say it won’t affect their businesses.

Business 171

Business Marketing Real Estate 171

BiggerPockets

MAY 17, 2024

This may be the best time ever to invest in new construction. We'll explain why the demand for homebuilding could mean big bucks for investors.

Construction 92

Construction Investors Investing Development 92

Inman

MAY 17, 2024

Nine of the 10 cities with the steepest drops in rent in April were in the Sun Belt, according to Redfin.

Investing 170

Investing Real Estate Marketing 170

BiggerPockets

MAY 17, 2024

We break down the bill and explain how the new regulations would impact investors in South Carolina and across the country.

Law 92

Law Investors 92