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Mortgage rates have come down with recent positive inflation news. However, they are still higher than they were six months ago. I think rates are on the verge of going lower. Will consumers respond? I expect that mortgage rates under 6.75% and moving towards 6.5% will shake homebuyers into action, but we certainly can’t see it in the data yet. New pendings this week came in significantly below last year at this time.
DocMagic Founder, President and CEO Dominic Iannitti DocMagic has issued a release announcing the passing of its Founder, President and CEO Dominic Iannitti , who passed away unexpectedly last Thursday morning due to complications from pneumonia. An innovator and prominent figure within the mortgage industry, Iannitti founded DocMagic Inc. in 1987, with a vision to streamline the mortgage process and eliminate the reliance on.
The U.S. Department of Housing and Urban Development (HUD) on Monday announced a new $175 million notice of funding opportunity (NOFO) under its Continuum of Care (CoC) program, which will go toward the development of new rental housing units with “supportive services for people experiencing homelessness ,” the department explained. This particular funding opportunity is designed to impact communities with demographic and size variations by setting aside $65 million for CoCs that are “located in
RentCafe has analyzed the nation’s rental market for the first half of 2024, ranking the most sought-after markets for rentals. With high home prices and limited housing options making renting a preferred choice for many, RentCafe took a deeper look at which cities have received the most attention from renters in the first half of 2024. Claiming the top spot for the fifth time in the past six months was Minneapolis which attracted the highest online engagement on RentCafe.com.
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 Federal Housing Administration (FHA) on Monday announced that its computer systems, including FHA Connection (FHAC) — which provides FHA-approved lenders and business partners with secure online access to computer systems at the U.S. Department of Housing and Urban Development (HUD) — have been restored as of Monday morning following a global tech outage on Friday.
Auction.com’s latest Seller Insights report reveals that leaders in the default servicing sector are anticipating a controlled economic descent, with gradual increases in foreclosure rates despite sustained high interest rates. The findings, compiled from a survey conducted during the Auction.com Disposition Summit, highlight industry expectations for the remainder of 2024.
Auction.com’s latest Seller Insights report reveals that leaders in the default servicing sector are anticipating a controlled economic descent, with gradual increases in foreclosure rates despite sustained high interest rates. The findings, compiled from a survey conducted during the Auction.com Disposition Summit, highlight industry expectations for the remainder of 2024.
Since starting his career in the real estate industry more than five decades ago, Dave Liniger , the co-founder of RE/MAX , has seen and experienced quite a bit of change and innovation. While the emergence of technology tools is not new to the industry, the latest wave of artificial intelligence (AI)-driven technology is unlike many others that have come before.
It’s 3:30 pm and I promised my client I would have it delivered by 5:00 pm. However, I’ve run into a little bit of a quandary. You see, over the past several weeks, I have had three conditions on prior appraisals because of the following: “strong”, “school district” and “close proximity”. The latter was simply a reference to the property’s location near the ocean, which is relatively common where I operate , but each term was innocuous and routine — unless of course you take them out of cont
Artificial Intelligence -powered real estate assistant platform Sidekick announced its newest strategic partnership on Monday. The company is teaming up with OneKey MLS to provide more than 45,000 MLS subscribers across the New York City metro area with access to Sidekick-integrated datasets and AI-powered workflows. “ We are thrilled to join forces with OneKey MLS to support the way their members leverage AI to conduct and grow their businesses,” Michael Martin, the co-founder and co-CEO
A letter to the state’s Realtor association also calls out consumer complaints about being “ensnared in contracts with brokers” they don’t want to work with.
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.
Recent leadership team changes have hit the cloud-based brokerages. On Monday, LPT Realty announced that Michael Valdes, the former chief growth officer at fellow cloud-based firm eXp Realty , has been named as the CEO of LPT International. In this role, Valdes will lead the international expansion of LPT Realty, including the firm’s efforts to open in Canada and other international markets later this year.
Dominic Iannitti, a veteran mortgage technology leader who founded DocMagic and served as its CEO, died July 18, according to a company announcement on Monday. Iannitti, 60, died due to complications from pneumonia. He founded DocMagic in 1987 alongside Pat Theodora, his chief financial officer, who will become the company’s new CEO. The company provides a number of e-mortgage services, including remote online notarizations (RONs). “The entire family at DocMagic is deeply saddened by
Former eXp Chief Growth Officer Michael Valdes will spearhead the international expansion of LPT Realty, which he says is perfecting the model eXp pioneered.
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.
In a recent episode of “Ten Minute Talks,” HousingWire President Diego Sanchez and Alita Group President Stacy Mestayer discussed an alternative option to title insurance. Mestayer started her career in corporate law before founding the Alita Group, which began as a technology company and eventually created the attorney opinion letter (AOL) product that acts as an alternative to traditional title insurance.
The Five Star 2024 Conference & Expo , Wednesday-Friday, September 24-26 at The Omni Hotel Dallas, is the nation’s premier mortgage conference, set to attract 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.
San Diego-based Guild Mortgage is the latest mortgage lender to announce the use of artificial intelligence (AI) to improve its operations through the launch of an in-house system. The platform, dubbed GuildGPT, is integrated into Guild’s knowledge database and allows employees to deliver customized and instant information on company products and guidelines.
The company celebrated during a live "growth call" with leaders from more than 1,000 franchisees in the U.S. and Canada. Nearly 150 KW agents have earned more than $1 million in lifetime profit share.
Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. Watch any of the glamorous pseudo-reality real estate shows on TV, and you might be tempted to become a part-time real estate agent. There’s a ton of money to be made just by opening doors and looking glamorous — Right?
Mortgage delinquencies jumped in June, rising 14.5% compared withe May to 3.49% of all loans, according to ICE Mortgage Technology’s First Look report. Year-over-year, mortgage delinquencies were up 11.7%. However, the increase needs to be viewed in perspective: Mortgage delinquencies were at a near-record low in May and have been close to historic lows lows almost every month since the start of the pandemic in 2020.
VestaPlus , a software development firm known for its MLS solutions geared to real estate agents, has entered into a strategic partnership with California -based San Diego MLS. The partnership includes the licensing of VestaPlus’ Checkmate Listing Violation Detection software to SDMLS. According to an announcement, the software can automatically detect and remediate listing descriptions and photos that do not comply with the terms the National Association of Realtors ‘ nationwide commiss
Commercial foreclosures decreased 14% in June compared with May but were up 48% compared with June 2023, according to ATTOM. States with the highest rates of commercial foreclosures in June included California, Texas, and New York. ATTOM’s historical data show that commercial foreclosures hit a peak in June 2014 at 889, then dipped down to 141 by May 2020, but then surged again, reaching to a total of 647 in June 2024.
Last April, Erik Morin made a return to the reverse mortgage valuation space by joining appraisal and valuation company Atlas VMS. Morin founded Landmark Network in 2007, a company that quickly became a key player on the valuation side of the reverse mortgage space before being acquired by Class Valuation in 2018. After leaving that company, he returned to the space in 2023.
Mortgage lenders and secondary market issuers must implement quality control standards for the automated valuation models (AVMs) they use in valuing homes, as per a set of rules finalized by six federal regulatory agencies including Federal Housing Finance Agency and the Consumer Financial Protection Bureau. More specifically, mortgage lenders must adopt policies, practices, procedures, and control systems designed to ensure a high level of confidence in AVM estimates.
Zeb Lowe: In our initial conversation, you told me that a robust quality control program promotes community stability and supports first-time homebuyers in achieving their homeownership dreams. Can you connect those dots for me? Ed Gerding: Sure. Well established and effective quality control programs contribute to community stability by promoting responsible lending practices and ensuring the accuracy of the data obtained through the property appraisal process.
Kiavi , a provider of capital to residential real estate investors, has closed a $350 million unrated securitization of residential transition loans. This marks Kiavi’s 18th transaction under its LHOME shelf, bringing the company’s total issuance to more than $4.7 billion in offered notes since it began its securitization program in 2019 and nearly $1 billion in the first six months of 2024.
Non-QM wholesale lender 5th Street Capital is using the OptifiNow TPO as its new sales management and marketing solution. The San Diego-based mortgage lender is deploying OptifiNow as part of its strategy to utilize technology to scale its sales team and grow efficiently. “We were impressed with how well OptifiNow understood the needs of wholesale lenders,” says Dave Russell, national sales and production manager at 5th Street Capital, in a release.
Lending industry leaders surveyed by Fannie Mae see the lack of housing supply as the biggest risk factor in 2024, but most expect refinancing to pick up next year if rates continue to fall.
Originally published on 01/19/2021 Improve your construction bid templates with Automatic Calculations As the construction industry embraces the many advantages of digital solutions, it’s critical that your operation keep pace. Many areas of the construction industry can benefit from digital solutions, such as incorporating a digital construction site safety checklist or digitizing a construction invoice template to enhance customer professionalism.
Even if the settlement brings down commissions overall, buyers grow warier the more they learn about what the policy means for them, according to the latest Inman-Dig Insights consumer poll.
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