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The National Reverse Mortgage Lenders Association (NRMLA), the reverse mortgage industry’s leading trade association, is preparing to host its 2024 Annual Meeting and Expo on Sept. 24-26 in San Diego. The event is typically the largest, most expansive meeting for a wide variety of reverse mortgage professionals. It also typically features federal housing officials to offer updates on the Home Equity Conversion Mortgage ( HECM ) program.
The U.S. housing market is experiencing significant variability, with some cities seeing homes fly off the market while others are witnessing prolonged delays. As of July 2024, the average home spends 35 days on the market, but this figure varies widely depending on the location. Using Redfin data on over 47,000 homes sold in the 100 largest U.S. cities, Joybird examined where homes are selling the fastest—and the slowest.
The Homebuyers Privacy Protection Act of 2024, a U.S. Senate bill introduced this past December that targets mortgage trigger leads, has been incorporated into the fiscal year 2025 National Defense Authorization Act (NDAA). This is a bill that Congress must pass each year, since it refers to laws that specify the annual budget for the U.S. Department of Defense (DOD).
August 2024 marks the 13th month of year-over-year rent decline in a row for 0-2 bedroom properties observed since trend data began in 2020. Asking rents dipped by $5, or -0.3%, year over year. The median asking rent in the 50 largest metros registered at $1,753, down by $2 from last month and $7 lower than its August 2022 peak. Median rent declined in all size categories with larger declines in smaller-sized units: Studio: $1,455, down $20 (-1.4%) year over year; 1-bed: $1,632, down $11 (-0.7%)
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 HousingWire award spotlight series highlights the individuals and organizations that have been recognized through our Editors’ Choice Awards. Nominations for HousingWire’s 20 24 Tech Trendsetters award are open now through Monday, Sept. 30. Click here to nominate someone. If we learned anything from HousingWire’s recent AI Summit , artificial intelligence (AI) is rapidly reshaping lending by streamlining processes, reducing costs, and enhancing the overall borrower experience.
U.S. home prices increased a mere 0.1% in August compared with July and were up 4.5% compared with August 2023, according to First American’s home price index report. And while that signals a slowdown from previous months, Mark Fleming, chief economist for First American, notes that it represents a return to historical norms. “Annual house price appreciation nationally slowed for the eighth consecutive month, inching closer to the pre-pandemic historical average of approximately 3.5 percent,” Fl
U.S. home prices increased a mere 0.1% in August compared with July and were up 4.5% compared with August 2023, according to First American’s home price index report. And while that signals a slowdown from previous months, Mark Fleming, chief economist for First American, notes that it represents a return to historical norms. “Annual house price appreciation nationally slowed for the eighth consecutive month, inching closer to the pre-pandemic historical average of approximately 3.5 percent,” Fl
After years of declines, home-flipping profits are coming back. That’s according to a report released this week by Attom, which showed that the typical profit on a flip in the second quarter of 2024 was 30.4%, the fourth time in five quarters that margins rose. Attom said that flippers have struggled in comparison to other types of sellers in recent years because they’ve exhibited an “unusual pattern” of timing the market poorly.
Despite seasonally driven demand, rents across the U.S. dipped by $5 (or -0.3%) year-over-year and nationwide to a median rent of $1,753, according to the Realtor.com August Rental Report released today. Although affordability improved as a top-level trend, affordability varies widely by metro area and did not improve everywhere. This month’s report looked at the rent burden across the U.S. and found the most affordable rental markets include Oklahoma City, Okla., Columbus, Ohio and Austin, T
The Federal Reserve did something this week it hadn’t done in more than four years when it lowered the federal funds rate by half a percentage point. But for mortgage industry professionals hampered by fewer sales opportunities since the Fed’s streak of rate hikes began in March 2022, will this be the start of better days? Mortgage experts say that while the 50 basis-point (bps) cut is a welcome sign, it won’t do much on its own to move the needle for a housing market that remains stuck in neutr
Returning to Dallas, Tuesday-Thursday, September 24-26, the Five Star Conference and Expo attracts leading subject matter experts, exhibitors, and thousands of professionals representing mortgage servicers, lenders, federal government agencies, financial services law firms, service providers, investors, and real estate organizations from across the nation working towards the common goal of a stronger and united mortgage industry.
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.
California is the latest state to take a stand against the right-to-list agreement business plan of now bankrupt brokerage MV Realty. On Tuesday, the office of California Attorney General Rob Bonta announced that it was granted a preliminary injunction against Florida-based MV Realty after filing a lawsuit in December 2023. The AG’s office took issue with MV Realty’s Homeowner Benefit Agreement.
A new guide explains the types of compensation allowed (not an “open-ended amount or a range”), how buyers can ask sellers to pay and when it’s OK to walk away.
Editor in Chief Sarah Wheeler sat down with Joshua Ernst, CEO of Backflip , to talk about the challenges of flipping real estate in today’s market and how the right technology can unlock opportunities in a country full of older homes. Sarah Wheeler: How did your background lead you to start Backflip? Joshua Ernst: Throughout my career, I’ve built and scaled software, technology businesses and interesting products in different markets — including proptech.
Place/Livian deal ‘a significant step’; Lone Wolf and Seeking Agents respond to lawsuit-driven industry changes; Stellar adds access to MLS Match referral tool.
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.
Federal Housing Administration (FHA) Commissioner Julia Gordon thinks that more U.S. Department of Housing and Urban Development (HUD)-approved housing counselors should be trained to work with Home Equity Conversion Mortgage ( HECM ) borrowers, according to perspectives she shared this week during an online housing conference hosted by HUD. The news, first reported by Inside Mortgage Finance , stems from an expectation that HECM borrowers could seek to extract more equity out of their homes now
Former NextHome co-founder joins Realtor.com; North Carolina’s Canopy Realtor Association promotes VP to general counsel and COO; Virginia Realtors CEO retires.
In a new episode of the HousingWire Daily podcast , Editor in Chief and host Sarah Wheeler sits down with eXp Realty CEO Leo Pareja to discuss the National Association of Realtors ‘ (NAR) commission lawsuit, the new rules that agents are facing, and how eXp is helping agents navigate these challenges to thrive in the marketplace. Pareja took over as CEO at eXp in April 2024 and became the first Hispanic CEO of a major real estate brokerage in U.S. history.
This year’s Five Star Conference and Expo , set for Tuesday-Thursday, September 24-26 at the Omni Hotel in Dallas, will continue its tradition of recognizing and honoring the extraordinary accomplishments of our industry’s women executives. Each year, industry colleagues nominate their peers across five categories, and those nominees are then narrowed down further.
A top luxury agent in New York City has left Official Partners. Compass announced the hiring of Jared Schwadron this week, poaching him from the troubled brokerage founded by Tal and Oren Alexander. Schwadron has more than $1 billion in sales over a 15-year career that includes stops in New York City, Miami and the Hamptons. In addition to Official Partners, he’s previously worked with Douglas Elliman and The Corcoran Group. “This move is about taking my resources and tenure in the industr
The Department of Housing and Urban Development has partnered with Zillow for "Let's Make Home the Goal," a campaign aimed at connecting minority communities with HUD pre-housing counseling services.
The nation’s largest brokerage by transaction sides is increasing its footprint. On Thursday, eXp Realty announced the affiliation of independent brokerage Grand Lux Realty. Founded in 2006 by Michael Levy, Grand Lux Realty is based in Westchester County, New York , and has more than 200 agents. The firm serves clients in Westchester County, as well as Fairfield County, Connecticut, and the rest of the lower Hudson Valley.
Private investment firm Rice Park Capital Management reports that its strategic equity investing team has closed RPC Ventures Fund II LP. The committed capital allows Rice Park to make direct investments in early-stage and mid-stage mortgage technology companies to support them through the commercialization phase of growth. “We believe that our active approach to investing in sectors that we know are gaining attention and the successful closing of our second venture capital fund is a testament
Falling mortgage rates should help boost home sales by nearly 10 percent next year, but in the meantime, inventory shortages and affordability challenges are keeping a lid on sales in many markets.
Xactus , a provider of verification solutions to the mortgage industry, reports that it has been named the exclusive credit reporting, verification and flood provider for ACUMA Services, a program designed to provide ACUMA trusted credit unions and CUSO members with discounted products and services. Xactus is the only verification provider, and one of six best-in-class providers selected for the launch of ACUMA Services.
In challenging the National Association of Realtors' Clear Cooperation Policy, Robert Reffkin writes, Realtors are upholding their highest moral, ethical and legal duties to serve clients.
In 2023, 18.8 percent of all new single-family homes started were custom homes. This share decreased from the 20.4 percent recorded in 2022, according to data tabulated from the Census Bureau’s Survey of Construction (SOC). The custom home market consists of contractor-built and owner-built homes—homes built one at a time for owner occupancy on the.
In this exclusive video series on Inman, Windermere’s Principal Economist Jeff Tucker illuminates the latest stats, reports and numbers you should know. This week: The Fed's latest rate cut.
The challenging aspect of any renovation is determining what to renovate and selecting appropriate finishes. There’s no one-size-fits-all rule for renovations and finishes guaranteeing the highest ROI.
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