Housing Wire

OCTOBER 7, 2024

Despite additional challenges that may come with caring for an older person afflicted with dementia, both patients and their caregivers would prefer to age in place within the home of the patient. Both parties cite a desire to preserve the patient’s independence, and to avoid both concerning stories of congregate care facilities and the guilt that could come from transferring a loved one to a dedicated care center.

Finance 469

Finance 469

Appraisal Buzz

OCTOBER 7, 2024

As news continues to break in the aftermath of Hurricane Helene, Redfin polled U.S. residents aged 18-34 to gauge migration patterns in the wake of the storm. The poll found that 32% of U.S. residents aged 18-34 said they would reconsider where they want to move in the future after seeing or hearing about the damage caused by Hurricane Helene. That compares to 15% of respondents aged 35 and older.

Insurance 418

Insurance Business Appraisal 418

Housing Wire

OCTOBER 7, 2024

Real estate professionals in Denver are unhappy with a new Participation Agreement that could limit their access to data shared with REcolorado, a local MLS (Image generated by AI in Midjourney) Denver real estate agents were shocked in June when the area’s two Realtor associations fired the board of directors of the local multiple listing service (MLS) and sold it to local real estate businessman Joseph Burks.

Brokerage 446

Brokerage Real Estate Realtors Agents 446

Appraisal Buzz

OCTOBER 7, 2024

With some of the highest growth in active listings since before the pandemic, Florida dominates Realtor.com’s latest list of “ 10 easiest housing markets for homebuyers.” Price corrections after pandemic overheating contributed to cities such as Punta Gorda, Florida’s placement at number two, according to Hannah Jones, Economist for the real estate website.

Inventory 417

Inventory Housing Market Buyers Construction 417

Speaker: Timothy Allsopp

Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.

Construction

Housing Wire

OCTOBER 7, 2024

Home sales and home prices have been improving for several weeks. Unfortunately, this period could be fleeting, because we had strong economic news last week. Ironically, a strong employment situation in the country drives the bond market to higher rates. After the recent lows with mortgage rates this week, the 30-year fixed rate jumped back up over 6.5%.

Housing Market 438

Housing Market Marketing Mortgage Contracts 438

Housing Wire

OCTOBER 7, 2024

In the modern mortgage landscape, quality control (QC) stands as a critical pillar supporting the industry’s integrity and stability. As market conditions fluctuate and regulatory scrutiny intensifies, lenders must adopt a comprehensive approach to QC that goes beyond compliance checkboxes. Consolidated Analytics’ Ed Gerding offers recommended strategies and best practices to elevate lenders’ QC programs from adequate to exceptional.

Lending 418

Lending Mortgage Training Technology 418

Appraisal Buzz

OCTOBER 7, 2024

This article is featured in the 2024 edition of the Appraisal Buzz Magazine. Some other features in our magazine include funny Buzztoon comics, industry trends, as well as crazy stories from appraisers and readers like you! Read all these articles and more in the latest edition HERE. If you want to make sure you are receiving the print version of the Appraisal Buzz magazine in your mailbox, sign up HERE.

Tools 368

Tools Appraisal Legal Valuation 368

Housing Wire

OCTOBER 7, 2024

Consumer confidence toward purchasing a home increased in September to its highest level in more than two years due to the expectation of lower mortgage rates , according to Fannie Mae ’s Home Purchase Sentiment Index (HPSI). But that’s only an early sign that the market is shifting. Due to the expectation of rising home prices in some parts of the country, most consumers still think it’s not a good time to buy a home.

Mortgage 402

Mortgage Marketing Housing Market 402

Appraisal Buzz

OCTOBER 7, 2024

Total flood and wind losses from Hurricane Helene are forecast to run between $30.5 billion and $47.5 billion, according to CoreLogic. This estimate includes wind loss as well as insured and uninsured storm surge and inland flood loss for residential and commercial properties across 16 states. Insured flood loss from the National Flood Insurance Program (NFIP) and private insurance for residential and commercial properties is estimated to be between $6 billion and $11 billion, which includes bot

Insurance 365

Insurance Appraisal 365

Advertiser: Trellis

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Real Estate

Housing Wire

OCTOBER 7, 2024

MV Realty is facing more legal action, this time in Minnesota. The firm — which is now infamous for its right-to-list agreements — is being sued along with its Minnesota branch, MV Realty of Minnesota , and the companies’ shared executive, Amanda Zachman. Minnesota Attorney General Keith Ellison filed suit in late September in Ramsey County, charging MV Realty with unfair and deceptive trade practices.

Realty 401

Realty Contracts Legal Brokerage 401

Appraisal Buzz

OCTOBER 7, 2024

U.S. home prices are forecast to rise 3.1% over the next 12 months, according to valuations firm Veros. That’s down from the firm’s Q2 forecast of 3.2%. The firm’s quarterly VeroFORECAST report evaluates home prices in over three hundred of the nation’s largest housing markets and taxes into account the interrelationships of numerous economic, housing, and geographic variables pertaining to home value.

Inventory 361

Inventory Housing Market Valuation Home Value 361

Housing Wire

OCTOBER 7, 2024

The Mortgage Bankers Association (MBA) has announced two promotions within its leadership team. The trade group named Wendy Penn as vice president of affordable housing initiatives and Amber Lawrence as vice president of diversity, equity and inclusion (DEI). Penn and Lawrence join 12 other women on MBA’s executive leadership team. The association praised both executives for their leadership, commitment and drive to create affordable housing opportunities and inclusivity across the industry duri

Design 392

Design Realtors Real Estate Development 392

Real Estate News

OCTOBER 7, 2024

The deal, which is not yet final, came in a Georgia case but covers similar lawsuits over agent compensation.

Agents 225

Agents 225

Housing Wire

OCTOBER 7, 2024

The top brokerage in the country by transaction side count, eXp Realty , has settled the commission lawsuits. The parent company of eXp Realty, eXp World Holdings , announced the settlement on Monday in a filing with the Securities and Exchange Commission (SEC). According to the filing, the firm officially settled with the Hooper suit plaintiffs on Oct. 1.

Realty 384

Realty Brokerage Real Estate Agent Real Estate 384

Real Estate News

OCTOBER 7, 2024

Consumers were considerably more upbeat about the housing market in September, but rising mortgage rates may put a damper on their enthusiasm.

Housing Market 215

Housing Market Mortgage Marketing 215

Housing Wire

OCTOBER 7, 2024

Despite 2024 being a challenging year for sales volume, the reverse mortgage industry is still encouraged by the engagement of the Federal Housing Administration (FHA) on matters related to the Home Equity Conversion Mortgage (HECM) program, as well as attention to back-end loan issues from Ginnie Mae. This feedback came from a panel discussion of industry leaders that took place at the National Reverse Mortgage Lenders Association (NRMLA) Annual Meeting and Expo in San Diego at the end of Septe

Mortgage 383

Mortgage Development Government 383

Real Estate News

OCTOBER 7, 2024

Tether RE takes top spot in T3 Tech Summit Pitch Battle, DropOffer launches platform for off-market deals, Rayse platform goes live in 200 brokerages.

Agents 208

Agents Brokerage Marketing 208

Housing Wire

OCTOBER 7, 2024

Rocket Companies tapped Papanii Okai, who previously served as chief technology officer at Venmo , as its executive vice president of product engineering. Okai’s hiring, effective Monday, is the latest in a string of hires to the Detroit-based lending company’s executive team since Varun Krishna became CEO about a year ago. Krishna has invested in artificial intelligence (AI) designed to transform the homeownership journey.

Technology 378

Technology Design Lending Investing 378

Appraisal Buzz

OCTOBER 7, 2024

Wendy Penn has been promoted to vice president for affordable housing initiatives at the Mortgage Bankers Association (MBA). Penn joined the MBA in 2021 as the associate vice president for affordable housing initiatives. She will continue to lead the overall strategy and execution of CONVERGENCE, including providing oversight of its place-based initiatives in Philadelphia; Columbus, Ohio; and Memphis, Tenn.

Mortgage 195

Mortgage Retail Development Realtors 195

Housing Wire

OCTOBER 7, 2024

In time for a fall homebuying season that could be busier than usual due to lower mortgage rates , Opendoor has made appointments to a pair of vital roles. The company announced that it has named Selim Freiha its chief financial officer, while Shrisha Radhakrishna assumes the title of chief technology and product officer. They’re both expected to begin work at Opendoor in November.

Technology 375

Technology Finance Real Estate Agents 375

Appraisal Buzz

OCTOBER 7, 2024

The Mortgage Bankers Association (MBA) and 13 mortgage industry stakeholders have formed the Convergence Collaborative , a coordinated effort to identify and develop solutions to help close the racial homeownership gap. Over the next three years, the Collaborative will deploy more than $1 million annually to build on the existing network of location-based sites focused on expanding minority homeownership, the MBA says in a release.

Insurance 195

Insurance Realtors Lending Development 195

Housing Wire

OCTOBER 7, 2024

The Onit takeover of MoxiWorks appears to be ongoing, as the real estate technology firm has hired two more veterans from Onit to serve in leadership roles. Ben Tao was hired to be the company’s first chief marketing officer, while Jackson Mayes will join as chief of staff. The pair come to MoxiWorks from Onit with a bevy of experience in technology marketing and software-as-a-service (Saas) verticals.

Technology 375

Technology Real Estate Agents Realtors 375

Inman

OCTOBER 7, 2024

Zillow recently surveyed over 5,000 buyers and 6,200 sellers to capture important information for our first annual Consumer Housing Trends Report for Agents.

Sellers 187

Sellers Agents Buyers 187

Housing Wire

OCTOBER 7, 2024

The Mortgage Bankers Association (MBA) on Monday announced the launch of a new initiative involving 12 other corporate stakeholders. The entities will seek to find potential solutions for closing the racial homeownership gap. The new initiative comes in the form of a group called the “CONVERGENCE Collaborative,” which is a “coordinated effort to identify and develop solutions to help close the racial homeownership gap,” according to an announcement published by MBA.

Realtors 363

Realtors Insurance Tools Lending 363

Inman

OCTOBER 7, 2024

The brokerage was the third-largest by sales volume in 2022 and one of a relative few holdouts who had yet to settle lawsuits targeting the old status quo for real estate commissions.

Brokerage 182

Brokerage Real Estate Agents 182

Housing Wire

OCTOBER 7, 2024

Dan Hanson of loanDepot speaks during a panel discussion at the HousingWire IMB Summit in Dallas on Oct. 1. (Photo courtesy of Willie & Kim Photography) Mortgage industry leaders expect more mergers and acquisitions (M&A) in 2025, fueled by declining interest rates and renewed market confidence after two years of what they describe as “modest activity.” “There’s definitely activity happening behind the scenes,” Brett Ludden, managing partner at Sterling Point Advisors , said

Mortgage 324

Mortgage Sellers Technology Valuation 324

Inman

OCTOBER 7, 2024

Zillow took their real estate marketing product, Zillow Showcase, nationwide earlier this year. However, 2024 has been a year like no other with changing interest rates and new industry standards.

Agents 174

Agents Real Estate Marketing 174

Housing Wire

OCTOBER 7, 2024

We are seeing tremendous transformation within the loss mitigation space. Remedies for distressed borrowers previously limited to bankruptcy relief have seen significant expansion through the creation of FHFA , Dodd-Frank, and the CFPB. Hardships have been expanded to include weather disasters and the COVID-19 pandemic. More recently, we have seen an extension and expansion of loss mitigation remedies with VASP and related government programs, and on the immediate horizon, many changes to Regula

Clients 323

Clients Design Investors Technology 323

Inman

OCTOBER 7, 2024

In his latest CNBC appearance, Redfin CEO Glenn Kelman talked about mortgage rates, the lock-in effect, and how buyer-broker compensation changes are already impacting market dynamics.

Housing Market 169

Housing Market Marketing Buyers Mortgage 169

Eyes on Housing

OCTOBER 7, 2024

NAHB published research earlier this year on home buyer preferences called What Home Buyers Really Want. Consumers were asked to rate how 19 technology features would influence their home purchase decision, if at all, using the following four-point scale: Seventy-eight percent of home buyers rated a programmable thermostat as either essential/must have or desirable, followed.

Technology 167

Technology Buyers 167

Inman

OCTOBER 7, 2024

Kourtney Pulitzer, senior global real estate advisor at Sotheby’s International Realty — Palm Beach Brokerage has more than 25 years of experience across several industries, has made Palm Beach her home and works to help others do the same.

Realty 167

Realty Brokerage Real Estate 167

Eyes on Housing

OCTOBER 7, 2024

New manufactured homes saw a decline in shipments in 2023 compared to the previous year. According to the Manufactured Housing Survey (MHS), 89,169 manufactured homes were shipped in 2023, a decrease of 21% from the 112,882 homes shipped in 2022. The Census defines a manufactured home as a movable dwelling, 8 feet or more wide.

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