Housing Wire

SEPTEMBER 4, 2024

Declining mortgage rates in August provided some relief for U.S. homebuyers and made it the most affordable month since February. Of the 2.5 million “in-the-money“ mortgage holders as of Aug. 22, more than 60% took out their mortgages in the past two years, including 850,000 in 2023 and 560,000 this year. The average highly qualified candidate who took out a mortgage within the past two years could save $264 per month by refinancing at today’s prevailing rate, according to the newest Mortgage M

Mortgage 421

Mortgage Inventory Marketing 421

Appraisal Buzz

SEPTEMBER 4, 2024

According to a new study from Redfin , condo prices are falling in major Florida and Texas metros, as inventory piles up and buyers back off, as high HOA fees and insurance costs are making condos a tough sell in this current marketplace. In Tampa, the number of condos for sale soared 57.2% from a year earlier in July 2024, pending sales dropped 18.9% and the median sale price fell 4.9%.

HOA 397

HOA Insurance Inventory Investors 397

Housing Wire

SEPTEMBER 4, 2024

United Wholesale Mortgage (UWM) is rolling out a new 75 basis-point incentive program for conforming conventional and government-backed rate-and-term refinances. The program, dubbed “Refi75,” effectively replaces and expands on “Govy 125,” a 125-bps incentive that ended Tuesday for Interest Rate Reduction Refinance Loans (IRRRLs) through the U.S.

Government 420

Government Technology Clients Investing 420

Appraisal Buzz

SEPTEMBER 4, 2024

Homebuyer affordability improved in July, with the national median payment applied for by purchase applicants decreasing to $2,140 from $2,167 in June. This is according to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index (PAPI), using data from MBA’s Weekly Applications Survey (WAS). “Homebuyer affordability conditions improved for the third consecutive month as rates below 7 percent and rising housing inventory continue to bode well for prospective homebuyers,”,” s

Mortgage 395

Mortgage Inventory Housing Market Appraisal 395

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 With construction projects becoming more complex, outdated processes are no longer sustainable.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

SEPTEMBER 4, 2024

The Federal Housing Administration (FHA) on Wednesday published Mortgagee Letter (ML) 2024-18 , which implements updates to debenture interest rates and reimbursements for Home Equity Conversion Mortgage ( HECM ) program claims proposed in July. The ML goes into effect on Sept. 28. Debenture interest refers to the percentage of a return that an investor would receive for lending money through a debenture.

Mortgage 404

Mortgage Legal Development Insurance 404

Housing Wire

SEPTEMBER 4, 2024

With elevated levels of home equity across the U.S., mortgage lenders are making home equity lending more accessible to reach more borrowers. Nearly all of the companies analyzed that provide home equity lending have a digital application process, while about half incorporate a soft credit pull before they fully underwrite these loans, according to a report released Wednesday by intelligence firm Keynova Group.

Advertising 402

Advertising Lending Buyers Mortgage 402

Real Estate News

SEPTEMBER 4, 2024

The “free” ride may not last as officials seek solutions for a deflationary economy and a glut of homes — the mirror image of what the U.S. is dealing with.

Mortgage 236

Mortgage 236

Housing Wire

SEPTEMBER 4, 2024

Mortgage demand rose slightly last week as mortgage rates moved lower. Loan application volume increased 1.6% on a seasonally adjusted basis for the week ending Aug. 30 compared to the previous week, according to the Mortgage Bankers Association (MBA). The MBA’s refinance index decreased 0.3% from the previous week but was 94% higher than the same week in 2023.

Mortgage 398

Mortgage Loan Officers Contracts Marketing 398

Real Estate News

SEPTEMBER 4, 2024

The company said its product suite has “been upgraded so buyer's agents can more quickly and easily display their value” — and see compensation offers.

Agents 223

Agents Buyers 223

Advertiser: Trellis

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.

Real Estate

Housing Wire

SEPTEMBER 4, 2024

Judge Andrea R. Wood, who is overseeing the two Batton homebuyer commission lawsuits and the Moehrl commission suit, has recused herself from the cases, according to a legal filing on Wednesday. In the filing, the Chicago -based U.S. district court judge said that it had recently come to her attention that the spouse of a person related to her within the third degree of relationship is a partner at a law firm that represents a defendant in the suits.

Law 382

Law Legal Real Estate 382

Real Estate News

SEPTEMBER 4, 2024

The commissions cases will be reassigned after Judge Andrea Wood was made aware of a possible conflict of interest.

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Housing Wire

SEPTEMBER 4, 2024

Guild Mortgage announced on Wednesday the introduction of a new product line called the “ Flex Payment Mortgage ,” which includes Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgages ( HECMs ), refinances, proprietary jumbo options and HECM for Purchase (H4P) loans. “Guild’s Flex Payment Mortgage is a suite of products combining federally-insured [HECMs] with options for larger loan amounts as well as the reverse mortgage for purchase,” the company stated.

Mortgage 379

Mortgage HOA Insurance Property Taxes 379

Appraisal Buzz

SEPTEMBER 4, 2024

Mortgage application volume inched up 1.6% during the week ended August 30, as the average rate for a 30-year, fixed-rate mortgage dipped to 6.43%, down from 6.44% the previous week, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Applications for refinance decreased 0.3% compared with the previous week but were up 94% compared with the same week one year ago.

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Government Mortgage Appraisal 195

Housing Wire

SEPTEMBER 4, 2024

Artificial intelligence is already a tool in Zillow’s search experience, and now the company is adding natural language capabilities to it. Zillow’s existing AI search capabilities already allowed for surfacing homes on the basis of things related to the home itself. Now the AI can search by commute times, affordability and “nearby points of interest.” For example, a user can type in “homes within 30 minutes of downtown Dallas” and it will show options, and it can do so whether the user

Tools 378

Tools Technology Agents Real Estate 378

Appraisal Buzz

SEPTEMBER 4, 2024

Jim and Hal are back from Valuation Expo and are joined by a fascinating guy they met there: Joshua Stephens, a Texas appraiser whose growing firm, WP Appraisers, is experimenting with bold new business models. We’ve also got a BIG announcement: We’re launching an annual awards series through Appraisal Buzz called The Buzzys! These awards will recognize appraisers across the country, and you get to vote!

Business 195

Business Valuation Appraisal Technology 195

Housing Wire

SEPTEMBER 4, 2024

Figure Technology Solutions , the parent company of Figure Lending LLC , announced on Wednesday the hiring of Ronald Chillemi as its first chief legal officer and corporate secretary. Chillemi has more than 25 years of experience in regulatory affairs, government relations and compliance across a number of fintech companies and law firms. He also previously served as a federal and state prosecutor, including with the U.S.

Legal 376

Legal Lending Technology Modernization 376

George Dell

SEPTEMBER 4, 2024

A Body of Knowledge committee? I was just getting acquainted with the Appraisal Institute service structure. At one of the first of many times at AI national or Board meetings, it seemed a good idea to find a committee focused on where I might be able to genuinely contribute. Upon noticing there was a Body […] The post What New Body of Knowledge?

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Appraisal Valuation 195

Housing Wire

SEPTEMBER 4, 2024

The city council of Portland , Oregon , unanimously passed what it is calling the city’s first-ever housing production strategy , which is based on a proposal introduced this summer by Commissioner Carmen Rubio. Like many major metropolitan areas across the country, Portland is facing a housing shortage as well as an affordability crisis. The only viable solution to these problems, as other municipal leaders and housing industry experts have previously suggested, is the construction of more home

Construction 367

Construction Development Law Finance 367

Inman

SEPTEMBER 4, 2024

If mortgage rates fall by another percentage point, ICE Mortgage sees homebuyers' monthly payment dropping by $236 and nearly 7.2 million homeowners "in the money" for a refinance.

Mortgage 185

Mortgage Marketing 185

Housing Wire

SEPTEMBER 4, 2024

New York City -headquartered investment firm Pretium Partners announced Wednesday that it has hired two new managing directors as its seeks to bolster its real estate debt strategy. The firm hired Brendan Bosman, a former senior managing director and head of U.S. housing investing at Minneapolis -based Värde Partners , and Karen Kulvin, a former senior managing director and co-head of the real estate debt platform at Los Angeles -based Kayne Anderson Real Estate.

Finance 364

Finance Real Estate Investing Development 364

Inman

SEPTEMBER 4, 2024

Feeling like your listings are under scrutiny? They are. Bernice Ross lets you know more about the tools and techniques MLSs are using to ensure compliance with new commission rules.

Tools 178

Tools Brokerage Agents 178

Housing Wire

SEPTEMBER 4, 2024

Real estate marketing software provider MoxiWorks is looking to help agents up their game while complying with the business practice changes outlined in the National Association of Realtors’ (NAR) commission lawsuit settlement agreement that went into effect last month. To achieve this goal, the company has released a series of product updates that are designed to support agents as they navigate the post-NAR settlement environment.

Agents 359

Agents Advertising Real Estate Agent Real Estate 359

Inman

SEPTEMBER 4, 2024

Strategic partnership with D2 Asset Management will help shared equity pioneer go nationwide, after signing home equity agreements with more than 10,000 homeowners in 16 states.

Technology 177

Technology Mortgage 177

Eyes on Housing

SEPTEMBER 4, 2024

In 2022, the total count of second homes was 6.5 million representing 4.6% of the total housing stock, according to NAHB estimates. This reflects a decline from 2020, when the number of second homes stood at 7.15 million. As of 2022, the state with the largest stock of second homes was Florida (1 million), accounting.

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Inman

SEPTEMBER 4, 2024

Consumers using Zillow's mobile application can now search homes with simple voice prompts based on commute, points of interest, affordability and school access, according to executives.

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Eyes on Housing

SEPTEMBER 4, 2024

Due to slowing home construction and elevated interest rates, the count of open construction sector jobs continued to decline in July, per the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS). However, this shift lower is also consistent with a cooler overall labor market, which is a positive sign for future inflation readings.

Construction 134

Construction Marketing 134

Inman

SEPTEMBER 4, 2024

Good property managers build relationships and communities, and that's something no app can do, multifamily expert Michael Zaransky writes.

Property Management 171

Property Management Investing Real Estate Agents 171

BiggerPockets

SEPTEMBER 4, 2024

Are you worried about your local rental market cooling off, fearing that you will have a property sit on the market for too long?

Landlords 86

Landlords Marketing 86

Inman

SEPTEMBER 4, 2024

Updates to presentation templates and the ability to include offered buyer broker commissions as a percent or dollar are among the buyer-focused tools touted by the company on Wednesday.

Tools 171

Tools Buyers Agents Technology 171

BiggerPockets

SEPTEMBER 4, 2024

News that the Federal Reserve is about to start cutting interest rates has electrified the real estate industry, with homeowners and investors eagerly waiting to see how low rates will […]

Investors 86

Investors Real Estate Mortgage 86

Inman

SEPTEMBER 4, 2024

Bond market investors who fund most mortgages are already certain the Fed will slash rates this month. The question has become how much will policymakers cut on Sept. 18, Nov. 7 and Dec. 18?

Mortgage 161

Mortgage Investors Marketing 161

BiggerPockets

SEPTEMBER 4, 2024

Real estate risk can make you wealthy or cause your portfolio to come crashing down. Like any type of investing, real estate can be risky.

Real Estate 80

Real Estate Investing 80