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The United States Department of Veterans Affairs will soon release a circular that “bridges the gap” on an agency law that prohibits a VA buyer from paying their real estate agent compensation, a VA official announced on Tuesday. Michelle Corridon, deputy policy director at the VA, announced at the Mortgage Bankers Association ‘s Secondary & Capital Markets Conference in New York that the circular would be issued between now and June 12.
A combination of increased listings and weakening affordability continued to dampen home price appreciation in April – a trend that will likely to continue, according to First American. “After years of historically low levels of homes for sale, the pace of existing-home listings has modestly increased, bringing much-needed supply to the housing market,” says Mark Fleming, chief economist for First American, in a statement.
After two years of limited demand, private equity and insurance companies are increasing their allocations to single family residential mortgages. This increased flow of funds appears to be driven by strengthening macro factors that favor residential mortgages over other yield assets such as commercial real estate (CRE) and commercial (C&I) loans.
An appeals court ruled that the government could reopen its investigation. NAR says that decision involved “far-reaching and exceptionally important” errors.
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.
For many, buying a home is a complex process, and navigating the real estate market’s rules and regulations can be tricky, especially in states where property sale prices remain a secret. Buying a home in a non-disclosure state, where sale prices are not available to the general public, presents a unique set of challenges and requires home buyers to be more proactive in gathering information.
A new report describes the political might of NAR, its lavish efforts to protect it, and risks to its future posed by the government — and its own actions.
A new report describes the political might of NAR, its lavish efforts to protect it, and risks to its future posed by the government — and its own actions.
In a supply-constrained housing market , even landing a deal at foreclosure auction has become challenging, but those deals tend to be more readily available in markets or neighborhoods that are off the beaten path. “It’s oddly enough in states where people are leaving,” said Florida-based real estate investor Paul Lizell of the markets where he is more focused on acquiring investment properties in 2024.
Bill Shuler has joined Planet Home Lending , a national mortgage lender, servicer, and asset manager, as executive vice president, chief information officer. Shuler has more than 25 years of experience in the financial services industry and decades of mortgage leadership. Before joining Planet Home Lending, Shuler was president of WPS Advisors, LLC, providing boutique advisory and consulting services to top-tier mortgage companies and private equity firms.
Zillow announced the release of an open-source tool, the Fair Housing Classifier , on Tuesday as part of the company’s efforts to “promote responsible and unbiased behavior in real estate conversations powered by large language model (LLM) technology.“ In a news release, Zillow explained that artificial intelligence (AI) tools often fail to account for the myriad requirements of fair housing laws.
Halcyon is integrating with Fannie Mae’s Desktop Underwriter (DU) validation service, with final authorization at a later date. This new integration utilizes the widely recognized IRS 8821, modernized by Halcyon to provide speed, accuracy, and flexibility. Halcyon leverages its team’s extensive 25-plus years of experience in tax preparation and financial services to offer a cutting-edge solution.
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.
At a status hearing on Tuesday for the Nosalek commission lawsuit, a lawyer for the Department of Justice said the terms of the National Association of Realtors’ nationwide commission lawsuit settlement agreement represented “an improvement.” However, it remains unknown if the DOJ will file a statement of interest in the Sitzer/Burnett suit, as it did in the Nosalek suit, according to RisMedia , which first reported the news.
Zillow Home Loans is introducing a new tool that helps borrowers assess how much home they can afford. The new tool, BuyAbility, gives buyers a personalized, real-time estimate of the home price and monthly payment that fits within their budget, and then gives insight into the likelihood of qualifying for a loan, Zillow Home Loans says in a release.
NEXA Mortgage , the largest mortgage brokerage firm in the U.S., will pay its loan officers 100% of the commission splits “without any per-file fees or other hidden fees,” according to co-founder and CEO Mike Kortas. NEXA usually pays loan officers 220 basis points (bps) out of 275 bps on most loans. However, moving forward, it will allow LOs to access the remaining funds — the 55-bps difference — through its new program, NEXA100.
Carrie Guarrero has been promoted to the role of president of Fairway Independent Mortgage Corp.’s coaching platform, Fairway Ignite. Guarrero has participated in various coaching and certification programs since 1998. In 2007, she launched her first coaching and training company. From that point forward, she has been a key player in the mortgage and real estate industries, consistently performing exceptionally well as a top producer, except for 2013 and 2014 when she fully committed herself to
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.
Tapping into home equity , particularly for people in or near retirement , can be challenging — especially for those who may have a pressing need. Traditional equity-tapping methods — such as selling the home or taking out a home equity loan — could present lifestyle challenges, which is where alternative options like reverse mortgages can come into play.
This content is password protected. To view it please enter your password below: Password: The post Protected: Lighthouse vs. Tugboat Mindset appeared first on Appraisal Buzz.
U.S. single-family rent growth strengthened overall in March despite some weaknesses in specific markets. Single-family rent increases in March 2024 registered a 3.4% year-over-year gain, unchanged from February, according to CoreLogic ’s latest Single-Family Rent Index (SFRI). The SFRI analyzes single-family rent price changes at the national and major-metro levels.
The president and CEO of Corcoran Group spoke with moderator Jim Dalrymple II about recent changes in the market and how agents can explain their value to clients in the wake of commission lawsuit settlements.
Mortgage rates continued on their downward path as HousingWire ’s Mortgage Rates Center showed the average 30-year fixed rate for conforming loans at 7.34% on Tuesday, below the rate of 7.43% one week ago. At the same time one year ago, the 30-year average rate was 6.66%. Meanwhile, the 15-year conforming fixed rate averaged 6.71% on Tuesday, down from 6.77% one week earlier.
With commissions up in the air, Clever's Luke Babich writes that it may be time for some agents to explore alternative compensation models that can provide more consistent and reliable income.
Rocket Mortgage has entered into a settlement agreement with a group of current and former employees who have alleged the company did not provide sufficient overtime pay, according to court documents reviewed by HousingWire and reporting at Bloomberg Law. In a case filed in January 2023 in the U.S. District Court for the District of Arizona , the employees alleged that they “were not paid one-and-one-half times their regular rates of pay for all time worked in excess of 40 hours in a given workw
James Dwiggins spoke at the inaugural Inman Connect Miami on Tuesday, arguing that clinging to the current status quo when it comes to commissions is a recipe for disaster.
The reverse mortgage industry is no stranger to novel marketing campaigns, and it has often made use of celebrity spokespeople to drum up conversation about its products. While consistency can count for a lot when it comes to marketing and messaging, novelty can also be a path toward greater engagement. New American Funding (NAF) is aiming to find a different path to communicate the potential benefits of a reverse mortgage.
Connecticut-based lender, servicer and asset manager Planet Home Lending has appointed Bill Shuler as executive vice president and chief information officer. In his new role, Shuler will focus on Planet’s technological growth and enhancements to its operational efficiency. “My focus has always been on creating pragmatic IT solutions that support dynamic business growth, and I am ready to build strategic partnerships across all areas of Planet and help solidify the foundation for that growth,” Sh
New York City -based brokerage SERHANT. is promoting its new development director, Jennifer Alese, to the position of chief business officer, The Real Deal reported on Monday. Alese will be the company’s first chief business officer, and Carolyn Sebba will replace Alese as the new development director. “I’ve been working alongside Ryan Serhant for 9+ years leading New Development for the company, and this new role will allow me to focus on the future of the brand by implementing strategic initia
Managing broker and new Inman contributor Cassie Walker Johnson writes that in the evolving real estate market, investing in buyer agent compensation is a wise decision that benefits everyone involved.
Sandra Ho, a managing director at JPMorgan Chase , will join Wells Fargo next week as its head of home lending sales, Wells Fargo said in a statement Monday. It is a newly created role, and Ho will lead Wells Fargo’s consumer direct and distributed sales forces. She will report to Serhat Oztop, head of sales and retail transformation for Wells Fargo Home Lending.
An expected impact of the virus crisis was a need for more residential space, as people use homes for more purposes including work. Home size correspondingly increased in 2021 as interest rates reached historic lows. However, as interest rates increased in 2022 and 2023, and housing affordability worsened, the demand for home size has trended.
The sale marks a new record for lakefront properties in Palm Beach. Developer Todd Michael Glaser renovated and expanded the estate, at one point marketing it for more than $200 million.
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