Housing Wire
OCTOBER 1, 2024
Katie Johnson is stepping down from her role as chief legal officer for the National Association of Realtors. CEO Nykia Wright informed NAR members of the news in an email sent Tuesday and obtained by HousingWire. Johnson, who has spent 17 years at the trade association, has also been serving as NAR’s chief membership experience officer. Her last day will be Oct. 4.
Appraisal Buzz
OCTOBER 1, 2024
With Hurricane Helene, the eighth named storm of the season, having made landfall as a Category 4 hurricane in Florida’s Big Bend region last Friday , cleanup from this devastating storm is underway, as people piece their lives back together after Mother Nature wreaked havoc throughout the Southeastern U.S. The death toll currently stands at 140-plus from Hurricane Helene, and CoreLogic announced initial residential and commercial storm surge and wind loss estimates for Hurricane Helene for insu
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Housing Wire
OCTOBER 1, 2024
The Federal Housing Administration (FHA) on Tuesday issued an informational notice to mortgage lenders in which it reiterates various loss-mitigation options afforded to companies and borrowers who are engaged in FHA lending programs in presidentially declared major disaster areas (PDMDAs). The guidance applies to origination and servicing for both traditional forward mortgages as well as Home Equity Conversion Mortgages ( HECMs ) for senior borrowers, the agency said.
Appraisal Buzz
OCTOBER 1, 2024
Realtor.com has found that , amid rising home prices and mortgage rates, real estate investors are still finding hidden gems in affordable metros across the country, with Dayton, Ohio, standing out as the top destination for property investment in 2024. “For buyers interested in investing in rental properties or other real estate, it’s key to know which areas are both affordable and in high demand to be able to capitalize on any investment opportunities, especially with today’s higher prices and
Housing Wire
OCTOBER 1, 2024
Federal Housing Administration (FHA) Commissioner Julia Gordon offered her insights on the agency’s Home Equity Conversion Mortgage (HECM) program at this year’s National Reverse Mortgage Lenders Association (NRMLA) Annual Meeting and Expo, reflecting on her journey toward greater understanding of both the program itself and the industry that utilizes it.
Appraisal Buzz
OCTOBER 1, 2024
According to recent Redfin data , more than half (54%) of newly built apartments completed in Q1 were rented out within three months, rebounding from a four-year low of 47% a quarter earlier. That is still down from 58% a year ago and the second-lowest seasonally adjusted share to be reported in a quarter since mid-2020. The improvement over the preceding quarter—which recorded the weakest absorption rate since the beginning of 2020—might indicate that property owners are drawing in tenants wit
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Appraisal Buzz
OCTOBER 1, 2024
Total borrowing and lending for commercial and multifamily mortgages is expected to finish at $539 billion by the end of 2024, according to an updated baseline forecast by the Mortgage Bankers Association (MBA). This gives 2024 a 26% year-over-year increase from 2023’s total of $429 billion. Multifamily lending accounts for the largest chunk of that total, with an expected year-end total of $297 billion, a 21% increase from 2023’s estimated $246 billion.
Housing Wire
OCTOBER 1, 2024
Have you ever taken a great photo only to realize later that there’s a random person in the background, an object that doesn’t belong or something you simply don’t want in it? Real estate agents now have a new tool to remove these distraction from home staging photos — and no, it’s not Apple Intelligence. Matterport , a technology company that creates 3D models of buildings, has rolled out a tool called “defurnish,” which is an AI-powered function that allows agents to remove items i
Appraisal Buzz
OCTOBER 1, 2024
The post Scary Basement appeared first on Appraisal Buzz.
Housing Wire
OCTOBER 1, 2024
The U.S. jobs report for September is set to be released Friday, and it could prove to be a pivotal moment for the Federal Reserve as it determines how to shape monetary policy moving forward. The past three months have included underwhelming data in the labor market. In August, nonfarm payrolls expanded by 142,000 positions — below the Dow Jones consensus forecast of 161,000.
Real Estate News
OCTOBER 1, 2024
Johnson oversaw historic — and very public — legal cases for the organization, including the buyer agent commission lawsuits and sexual harassment litigation.
Housing Wire
OCTOBER 1, 2024
The role and value of real estate agents has come under scrutiny since the National Association of Realtors (NAR) settled a bevy of antitrust lawsuits related to offers of agent compensation on Realtor-owned multiple listing services (MLSs). While it’s unclear exactly how home buyers and sellers are reacting to the situation, a startup tech company called Rayse is “pushing back on the settlement” with a new communication platform that allows prospective buyers to track what their agents are doin
Real Estate News
OCTOBER 1, 2024
KW Cares has sent more than 450 generators to associates in the Carolinas, while RE/MAX and Anywhere are helping direct funds to affected agents.
Housing Wire
OCTOBER 1, 2024
In an era when “disruptive innovation” has become a tired buzzword, REcolorado is quietly rewriting the playbook for Multiple Listing Services (MLS) with an approach that’s less Silicon Valley and more Main Street. The Colorado-based MLS has tapped into a resource that many tech giants often overlook: the collective wisdom of its users.
Real Estate News
OCTOBER 1, 2024
The brokerage giant is asking NAR to allow greater flexibility around Clear Cooperation and co-mingling, and loosen restrictions for non-member agents.
Housing Wire
OCTOBER 1, 2024
RESPA Section 8 and CFPB Regulation X maintain firm prohibitions against kickbacks and unearned fees, with particular statutory exemptions, about all settlement services involving federally related mortgage loans. “No person shall give, and no person shall accept any fee, kickback, or thing of value pursuant to any agreement or understanding, oral or otherwise, that business incident to or a part of a real estate settlement service involving a federally related mortgage loan shall be refer
Appraisal Buzz
OCTOBER 1, 2024
This piece originally appeared in the September 2024 edition of MortgagePoint magazine, online now. Last year, National General Lender Services published an article highlighting that secondary perils, such as severe convective storms, wildfires, and river floods, are significantly impacting the insurance industry. The trend continues into this year, as the United States recorded 13 separate billion-dollar insured thunderstorm outbreaks in the first half of 2024, eight of which topped $2 billi
Housing Wire
OCTOBER 1, 2024
The Federal Housing Finance Agency (FHFA) is planning to examine innovations in the multifamily housing space following its TechSprint event in late July, which focused on innovative use cases in housing for generative artificial intelligence (gen AI). “There’s a lot of innovation taking place in the multifamily space. There’s at least a desire for more innovation in that space,” said Anne Marie Pippin , deputy director of the FHFA’s Division of Conservatorship Oversight and R
Appraisal Buzz
OCTOBER 1, 2024
The Five Star Institute and Naylor Association Solutions have announced a new partnership, which will enable associations to provide members with access to meaningful content and foster deeper member engagement. The Five Star Institute is a national trade association that supports the residential mortgage and real estate markets within the U.S. Naylor’s primary responsibility will be facilitating advertising partnerships between companies looking to get exposure from important mortgage industry
Housing Wire
OCTOBER 1, 2024
Rocket Mortgage has struck a deal to handle the servicing and recapturing activities for a portion of the mortgage servicing rights (MSRs) of real estate investment trust Annaly Capital Management , the companies announced on Tuesday. Terms of the deal were not disclosed. Annaly has $75 billion in assets invested across its agency mortgage-backed securities (MBS), residential credit and MSR strategies.
Appraisal Buzz
OCTOBER 1, 2024
U.S. home prices increased 1.0% in August compared with July and were up 3.9% compared with August 2023, according to CoreLogic’s home price index report. The year-over-year gain of 3.9% was the lowest rate of home price appreciation recorded since last July. “While mortgage rates have dropped in recent weeks, August home sales were slowed by still-high rates, which lowered affordability,” explains Selma Hepp, chief economist for CoreLogic, in a statement.
Housing Wire
OCTOBER 1, 2024
REcore , a software-as-a-service and data licensing solutions provider for multiple listing services (MLSs), has announced the launch of its new MLS Buyer Registry tool. According to the announcement, the product is designed to address potential issues regarding buyer and agent compliance with the newly mandated buyer agency agreements. REcore said that the tool will help MLSs to ensure their subscribers are complying with the business practice changes outlined in the National Association of Rea
Appraisal Buzz
OCTOBER 1, 2024
Sixty percent of homebuyers experience frustration during the mortgage process, a survey recently conducted for Snapdocs shows. The survey of more than 2,000 U.S. homebuyers reveals the mortgage process was confusing and inaccurate, inconvenient, or more costly than expected—with the majority of issues occurring during the closing. Key factors borrowers identified as negatively impacting their experience included document errors, lengthy in-person appointments, and unexpected caretaking and trav
Housing Wire
OCTOBER 1, 2024
With interest rates trending downward and refinances picking up, the industry is preparing for an upswing. This shift is welcomed good news given the tough origination market over the last two years. However, the most recent ACES Mortgage QC Industry Trends Report found critical defect rates jumped up in the first quarter (Q1) of this year. Not only does this break a five-quarter-long downward trend, but this uptick in defects happened at a time when mortgage originations were at their lowest le
Appraisal Buzz
OCTOBER 1, 2024
In a new release, a notice of proposed rulemaking on Federal Home Loan Bank (FHLBank) Unsecured Credit Limits has been issued by the Federal Housing Finance Agency (FHFA). The proposed rule would harmonize the handling of interest-bearing deposit accounts (IBDAs) and other permitted overnight investments with the treatment of Federal Funds sales, therefore improving the FHLBanks’ capacity to supply liquidity to their members.
Inman
OCTOBER 1, 2024
After a decade leading the trade group's legal team — including through sexual harassment scandals and numerous anti-trust commission lawsuits — Johnson is leaving.
Eyes on Housing
OCTOBER 1, 2024
Private residential construction spending fell 0.3% in August, according to the Census Construction Spending data. Nevertheless, it remained 2.7% higher compared to a year ago. The monthly decline in total private construction spending for August was largely due to reduced spending on single-family and multifamily construction. Spending on single-family construction fell by 1.5% in August.
Inman
OCTOBER 1, 2024
Compliance expert Summer Goralik tackles why the commission-splitting debate remains unresolved and whether listing agreements should still include buyer agent compensation fields.
Eyes on Housing
OCTOBER 1, 2024
After a period of slowing associated with declines for some elements of residential construction, the count of open construction sector jobs bounced back in the August data, per the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS). However, construction job openings remain slightly lower compared to a year ago.
Inman
OCTOBER 1, 2024
Nearly a hundred real estate professionals shared their thoughts on NAR's Clear Cooperation Policy with Inman, revealing a schism between supporters and opponents of the controversial rule.
Mortgagebroker News
OCTOBER 1, 2024
Community Trust's customer experience team laser-focused on elevating service standards
Inman
OCTOBER 1, 2024
Some real estate leaders say the focus on Clear Cooperation stems from the recent commission lawsuits. But other see a deeper question about brokerage profits at the heart of the issue.
Mortgagebroker News
OCTOBER 1, 2024
Executives share strategies for brokers and borrowers
Inman
OCTOBER 1, 2024
Like a car that was going 100 mph and has slowed down to 70 mph, Moreland Properties COO and broker of record says it's "very healthy" that homes are taking a little longer to sell.
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