Housing Wire

OCTOBER 4, 2023

Mortgage applications ground to a halt for the week ending Sept. 29, falling 6% from the week prior as mortgage rates jumped to a 23-year high of 7.53%, according to new weekly data from the Mortgage Bankers Association. Mortgage application activity is now at its lowest level since 1996, the MBA reported. Purchase mortgage application volume, in particular, slowed considerably for the week ending Sept. 29, down 22% from a year ago, according to unadjusted data.

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Sacramento Appraisal Blog

OCTOBER 4, 2023

Ten times more housing supply!!! That’s what 2007 had compared to right now. Today I want to share a stunning supply visual for Sacramento, and talk briefly about what’s happening with sellers and prices. Enjoy if you wish. UPCOMING (PUBLIC) SPEAKING GIGS: 10/4/23 KW Sac Metro Big Market Update (register here) 10/6/23 How to Think […] The post 2007 had ten times more housing supply than today first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

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Housing Wire

OCTOBER 4, 2023

Fannie Mae on Wednesday released its October 2023 update to its Selling Guide, aiming to reflect changes in the mortgage industry, its surrounding regulatory environment and Fannie Mae policy positions. The first update is a change to the documentation requirements for rental income that is used in a qualifying decision. “We updated our policies for rental income to address various questions received from lenders,” the update explained.

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Real Estate News

OCTOBER 4, 2023

A Homes.com exec told Real Estate News that its “playbook for growth is working,” but some competitors and outside observers see the data differently.

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Real Estate 276

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 With construction projects becoming more complex, outdated processes are no longer sustainable.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 4, 2023

In an environment where 30-year fixed mortgage rates are racing towards 8%, loan officer pipelines are thinning dramatically. Originators who primarily served move-up buyers with high credit scores and strong down payments are struggling to find clients. But LOs who cater to first-time homebuyers’ needs – offering FHA loans and down payment assistance loans — are faring better, Michael Ullmann, producing branch leader at Movement Mortgage , explained.

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Housing Wire

OCTOBER 4, 2023

Indiana-based First Savings Bank plans to lay off over 100 mortgage employees in the coming months, according to documents filed with authorities in multiple states. News of the plans come as political instability and a strong job market push mortgage rates closer to 8%. “First Savings Bank has planned a layoff in which a significant portion of impacted employees are considered remote or virtual employees in multiple states,” Julie Bleich, senior vice president and human resources dir

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Real Estate News

OCTOBER 4, 2023

A recent survey found that investor optimism increased in the past six months, though the high cost of financing is slowing investment purchases.

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Housing Wire

OCTOBER 4, 2023

San Francisco-based real estate team OWN Real Estate joined Keller Williams , the company announced on Wednesday. Founded by Wilson Leung, the team has 19 real estate agents and six staff members. In 2022, OWN Real Estate sold 80 homes, amounting to more than $107.1 million in sales volume, according to a news release. “Keller Williams teaches agents to run profitable businesses with good margins and reserves, and in my eyes, exemplifies this given they are one of the few private brokerag

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Real Estate Real Estate Agent Brokerage Agents 468

Inman

OCTOBER 4, 2023

Economists are scratching their heads and housing industry leaders are venting their frustrations as mortgage rates continue a relentless climb to new heights not seen in more than two decades.

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Mortgage Marketing 202

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

OCTOBER 4, 2023

As major home insurance carriers are increasingly pulling back their coverage options in disaster-prone areas, hundreds of thousands of people are moving to state-sponsored “last resort” insurance plans originally designed to offer a temporary fix. According to reporting from the Wall Street Journal, such plans — typically used for those who have no other options in securing home insurance — are increasingly becoming the first or only choice for homeowners who have been left to pick up the piece

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Real Estate News

OCTOBER 4, 2023

As for-sale listings have declined, more MLSs are integrating rental tools that can help members sustain their business in a slower market.

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Housing Wire

OCTOBER 4, 2023

Judge Patti Saris of the U.S. District Court in Boston granted the Department of Justice’s request to extend all settlement related deadlines in the Nosalek buyer broker compensation class action lawsuit on Tuesday. The final settlement hearing deadline is now scheduled for March 7, 2024, instead of Jan. 4, 2024. In a statement of interest filed last Thursday, the DOJ noted that it had “significant concerns” about the proposed antitrust settlement agreement between home sellers and MLS Property

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Buyers Realtors Sellers Legal 448

Inman

OCTOBER 4, 2023

Economists, homeowners and agents broke down the alarming but true cost of buying property in 2023, telling Intel that rising rates and home prices are only the start for wallet-stretched buyers.

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Housing Wire

OCTOBER 4, 2023

A once-in-a-century pandemic, global inflation, supply chain shocks – 2020 truly was a pivotal year. Now, newly released data from the U.S. Census Bureau shows how the business landscapes changed for homebuilders , lessors, agents , brokerages and other real estate professionals in the first full year after the pandemic began. The effects on each industry segment were disparate, the most recently available data for 2021 shows.

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Landlords Agents Brokerage Supply Chain 448

Inman

OCTOBER 4, 2023

There are so many moving parts when it comes to real estate. What's the best piece of advice you ever got from a coach, trainer or mentor?

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Real Estate Training Agents 195

Housing Wire

OCTOBER 4, 2023

A federal judge in New York has decided to dismiss the majority of accusations made by a former top executive at Better against the digital nonbank lender and other high-level executives, including claims related to labor and securities laws violations. However, Judge Analisa Torres, from the federal court of the Southern District of New York, ordered on Sept. 29 that the case will proceed with other claims, such as intimidation and retaliation, according to court filings.

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George Dell

OCTOBER 4, 2023

EBV (Evidence Based Valuation) principles continue to update from legacy “appraisal” practices. Here we hope to have a quick look at the upsides and downsides of EBV, compared to traditional, judgment-based “methods and techniques.” Editor’s Note: This is Standards, part 3.16 of George Dell’s series on How Do I Move to EBV? Links to the […] The post EBV Pro or Con?

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Housing Wire

OCTOBER 4, 2023

Digital lending platform Revvin joined forces with Truework , an income and employment verification platform, to provide comprehensive income verification coverage. The new partnership will allow lenders who use the Revvin platform to automatically verify any borrower at any point of the loan application process, according to a news release. Income verification technology is typically used for the loan origination process.

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Inman

OCTOBER 4, 2023

The spacious duplex on Manhattan's Upper West Side sold for $4.5 million under asking after listing over a year ago.

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Real Estate 187

Housing Wire

OCTOBER 4, 2023

Federal lawmakers in both the U.S. Senate and the House of Representatives introduced new bills requiring title insurance on mortgages purchased by government-sponsored enterprises (GSEs). On Thursday, U.S. Reps. Andrew Garbarino, R-N.Y., and Vicente Gonzalez, D-Texas, introduced House Bill 5837. The bill is also known as The Protecting America’s Property Rights Act and is the companion bill to Senate Bill 2687 , which was introduced in late July 2023.

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Inman

OCTOBER 4, 2023

"It’s been far too long since the established practices were set in place, and with the changing times, it’s not just real estate agents who need to pivot to remain successful," writes broker Mayleene DeFreece. Redfin's departure from NAR reminds us of the importance of choice and transparency.

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Housing Wire

OCTOBER 4, 2023

California-based home equity investment firm Splitero launched its own real estate brokerage , Splitero Homes, this week. It is available in four states, California, Colorado, Oregon and Washington and will help homeowners “sell for a higher price,” the company said. Launched in 2021, Splitero’s main focus is on home equity investments (HEI), which differs from home equity lines of credit (HELOC).

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Brokerage Real Estate Investing Sellers 435

Inman

OCTOBER 4, 2023

Redfin's latest survey of 5,000 buyers and renters reveals LGBTQ+ consumers disproportionately struggle with a lack of family support, saving a down payment and finding communities that protect gender, sexual and racial diversity.

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Buyers Marketing 183

Housing Wire

OCTOBER 4, 2023

HousingWire recently spoke to Chris McLain, division president of Valuations for Consolidated Analytics , about the current appraisals market, AI innovation in valuations and valuation products for HELOCs and second-lien mortgages. HousingWire: How is the market for appraisals changing in 2024? Chris McLain: We all thought radical change was coming … a decade ago.

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Valuation Appraisal Process Appraisal Lending 435

Inman

OCTOBER 4, 2023

CoStar CEO Andy Florance dished with Intel about the commission lawsuits, nemesis Zillow and NAR as Homes.com nabbed 100 million unique visitors for the first time ever in September.

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Business Buyers Realtors Real Estate 183

Housing Wire

OCTOBER 4, 2023

Lenders that adopt artificial intelligence (AI) or machine learning (ML) into the mortgage lending landscape want to see operational efficiency, Fannie Mae ’s mortgage lender sentiment survey showed. The survey found that lenders’ motivation to adopt AI and ML for operational efficiency has increased significantly (73%) compared to 2018 (42%) when Fannie Mae conducted a survey on the same topic.

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Technology Lending Valuation Government 435

Inman

OCTOBER 4, 2023

Economists are scratching their heads, and housing industry leaders are venting their frustrations as mortgage rates continue a relentless climb to new heights not seen in more than two decades.

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Mortgage Marketing 179

Eyes on Housing

OCTOBER 4, 2023

NAHB Analysis of the Census Bureau’s Characteristics of Units in New Multifamily Buildings Completed finds that 93% of the 368,000 multifamily units completed in 2022 were built-for-rent while the remaining 7% were built-for-sale. The share of new multifamily units that are built-for-sale has remained below 10% since 2011 when the share was 12%. 2011 was also the same year that.

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Construction 103

Inman

OCTOBER 4, 2023

Growing your influence and getting your name "out there" in your local market means more than just creating content. It’s also about how you refine and distribute it. Broker Troy Palmquist talks with San Francisco Realtor Brooks Landry about his content strategy.

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Business Realtors Marketing Training 179

BiggerPockets

OCTOBER 4, 2023

This new idea from the Department of Housing and Urban Development is controversial, but it could work.maybe?

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Inman

OCTOBER 4, 2023

Amidst an industry in turmoil, the real estate female empowerment and advocacy organization has launched a new campaign to "spur action on behalf of women in real estate.

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BiggerPockets

OCTOBER 4, 2023

Mortgage rates raised the bar again last week as the market begins to seriously slow down. What comes next?

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Mortgage Marketing Real Estate 91