Housing Wire

JULY 30, 2024

Mr. Cooper Group has priced the issuance of $750 million in debt to refinance outstanding mortgage servicing rights (MSR) facilities, an announcement that comes only four days after making public its billion-dollar acquisition of Flagstar Bank ‘s servicing assets. On Monday, the mortgage lender and servicer said that its debt offering to qualified investors through subsidiary Nationstar Mortgage Holdings will bear an annual interest rate of 6.5% that is payable semiannually.

Investors 452

Investors Contracts Mortgage Marketing 452

Appraisal Buzz

JULY 30, 2024

A new paper by Harvard University’s Joint Center for Housing Studies examines 11 state and local programs created to address the housing needs of middle-income renters. The programs studied in “ Subsidizing the Middle: Policies, Tradeoffs, and Costs of Addressing Middle-Income Affordability Challenges ” provide direct and indirect public subsidy, everything from grants and loans to property tax exemption and government guarantee of construction loans (see table below).

Government 399

Government Property Taxes Construction Appraisal 399

Housing Wire

JULY 30, 2024

Rate has hired a new head coach. The Chicago -based mortgage lender announced Tuesday that it’s bringing on Daniel Manginelli to lead its sales coaching program, which is designed to help mortgage professionals implement best practices and improve performance. According to the company, the coaching program for salespeople makes Rate one of only 10 mortgage companies with in-house coaching. “We hold back nothing in providing our professionals with world-class training and ensuring that our

Tools 448

Tools Training Design Finance 448

Appraisal Buzz

JULY 30, 2024

A new report from New Western, a national real estate investment marketplace, indicates that local real estate investors are poised to outperform traditional builders in several key markets. The report, based on a survey of 1,300 independent investors and analysis of market data, reveals significant trends and investor sentiment in the single-family real estate sector.

Real Estate 397

Real Estate Investors Renovations Construction 397

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 With construction projects becoming more complex, outdated processes are no longer sustainable.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

JULY 30, 2024

The August 17 deadline is looming, and many Realtors are gnashing their teeth over how they can share their seller’s offers of buyer broker compensation while still complying with the terms of the settlement. Enter the commission sharing websites — websites specifically designed for agents and brokers to quickly and easily find out if the seller of a property is offering to cover the buyer’s broker fees.

Buyers 440

Buyers Realtors Agents Sellers 440

Housing Wire

JULY 30, 2024

San Diego-based Smartfi Home Loans , which primarily is active as a wholesale lender in the reverse mortgage space, will launch a retail division that offers reverse mortgage products and has hired industry veteran Paul Fiore as its president of retail sales. “I am thrilled to announce that I have started my new role as president of retail sales at Smartfi Home Loans,” Fiore posted on social media on Monday.

Retail 439

Retail Loan Officers Lending Technology 439

Appraisal Buzz

JULY 30, 2024

S&P Dow Jones Indices (S&P DJI) released the May 2024 results for the S&P CoreLogic Case-Shiller Indices, revealing a continued deceleration in the upward trend of U.S. home prices. The indices, a leading measure of U.S. home prices with over 27 years of historical data, show varied performance across different regions. Annual gains decelerate The S&P CoreLogic Case-Shiller U.S.

Sellers 370

Sellers Marketing Lending Housing Market 370

Housing Wire

JULY 30, 2024

As the mortgage and real estate markets continue to face challenges, nearly 800,000 low down payment home purchases in 2023 leveraged private mortgage insurance (PMI), with first-time homebuyers accounting for 64% of the total. This is according to a new report published by U.S. Mortgage Insurers (USMI). “Private mortgage insurance continues to help buyers qualify for financing and become homeowners with down payments as low as 3%, and remains one of the most important tools available to f

Insurance 408

Insurance Mortgage Finance Buyers 408

Appraisal Buzz

JULY 30, 2024

The typical “starter home” is worth at least $1 million in 237 U.S. cities, according to a report from Zillow. Five years ago, there were only 84 such cities. Zillow defines a “starter home” as one that is in the lowest third of home values in a given region. Nationwide, the typical starter home is worth $196,611, which is comfortably affordable for a median-income household, Zillows says in its report.

Home Value 369

Home Value Buyers Appraisal Marketing 369

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Real Estate

Housing Wire

JULY 30, 2024

California Regional MLS (CRMLS) has decided to remove fields listing seller concessions from its platform. In late May, CRMLS added a seller concessions-in-price data field to its platform, allowing listing agents and brokers to list how much a seller was willing to contributes toward the buyer’s transaction costs, which could include their buyer representation fee.

Sellers 406

Sellers Advertising Realtors Agents 406

Appraisal Buzz

JULY 30, 2024

U.S. home prices continued to shatter records in May, rising 0.3% on a seasonally adjusted basis compared with April to reach the highest level in history, according to the S&P CoreLogic Case-Shiller home price index. The index’s 20-city and 10-city composites increased 0.3% and 0.4%, respectively. However, home price appreciation continued to decelerate: Year-over-year home prices were up 5.9%, down from a 6.4% annual gain the previous month.

Appraisal 367

Appraisal Mortgage Marketing 367

Housing Wire

JULY 30, 2024

Another month, another all-time high for home prices. The S&P CoreLogic Case-Shiller Home Price Index for May jumped by 5.9% year over year, the third month in a row that the index has posted a new record. While the pace of annualized growth dropped slightly compared to April, the year-to-date growth of the index sits at 4.1%, the fastest start in two years.

Inventory 402

Inventory Marketing Housing Market Finance 402

Real Estate News

JULY 30, 2024

The Houston Association of Realtors formed a data share partnership with the largest Latin American MLS, giving members access to listings across 22 countries.

Realtors 252

Realtors Marketing 252

Housing Wire

JULY 30, 2024

As a majority of older adults continue to express an overwhelming preference for aging in place in their homes, any decision needs to be made with a full understanding of a particular senior’s needs, capabilities, and access to essential services and people. This was an idea shared by Wayne State University gerontology professor Amanda Leggett in a podcast produced for a Detroit NPR affiliate that discusses the risks and benefits of aging in place.

Insurance 399

Insurance 399

Appraisal Buzz

JULY 30, 2024

According to new research from the Mortgage Bankers Association’s (MBA) Research Institute for Housing America (RIHA) , examining current mortgage design models, underwriting standards, and intervention policies could help alleviate market pressures resulting from high levels of mortgage defaults. “ Mortgage Design, Underwriting, and Interventions: Promoting Sustainable Homeownership ,” RIHA’s study, focuses on the lessons learned from the Great Financial Crisis and the COVID-19 pandemic to unde

Design 243

Design Finance Housing Market Mortgage 243

Housing Wire

JULY 30, 2024

Perchwell , a New York City -based real estate data firm that works with MLSs , brokers and agents, announced Tuesday that it has raised $25 million in a Series B financing round. The financing round was led by Lux Capital , which also participated in the company’s Series A round. The newest round also included participation from Starwood Capital Group , Flex Capital , Stellar MLS , REcolorado MLS and the California Regional MLS.

Brokerage 380

Brokerage Finance Real Estate Development 380

Real Estate News

JULY 30, 2024

At a meeting Monday, association members approved a change in bylaws that will allow the sale of the nation’s 16th-largest MLS to move forward.

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242

Housing Wire

JULY 30, 2024

Mortgage-related consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB) fell between the first and second quarters of this year, according to a review of the CFPB’s consumer complaint database conducted by HousingWire. A total of 5,652 mortgage-related complaints were submitted to the bureau between Jan. 1 and March 31, 2024.

Mortgage 377

Mortgage Insurance 377

Real Estate News

JULY 30, 2024

The organization added a concessions field in May that allowed listing agents to specify an amount or percentage — but opted to remove those options this week.

Agents 237

Agents 237

Housing Wire

JULY 30, 2024

Fannie Mae recorded $4.5 billion in net income in the second quarter, pushing its net worth to $86.5 billion as of June 30. Its net income was up only $164 million from the first quarter , despite a large uptick in purchases of single-family mortgages. Fannie Mae purchased $85.9 billion in single-family conventional loans in the second quarter of 2024, up from $62.3 billion in the first quarter, the company reported in its earnings presentation on Tuesday.

Government 361

Government Mortgage Business Lending 361

Appraisal Buzz

JULY 30, 2024

U.S. Sens. Elizabeth Warren and Raphael Warnock, members of the Senate Committee on Banking, Housing, and Urban Affairs, and Rep. Emanuel Cleaver, Ranking Member of the Housing and Insurance Subcommittee of the House Committee on Financial Services, have reintroduced the American Housing and Economic Mobility Act , legislation to tackle the housing crisis, bring down costs for renters and buyers, and help working families everywhere find a decent place to live at a decent price.

Construction 221

Construction Investing Inventory Law 221

Housing Wire

JULY 30, 2024

As Federal Reserve policymakers meet this week amid a high likelihood they’ll keep benchmark interest rates unchanged, the recent downward movement in mortgage rates leveled off. HousingWire ‘s Mortgage Rates Center showed that the average 30-year conforming loan rate was at 7.01% on Tuesday. That figure was unchanged from the same time last week.

Mortgage 360

Mortgage Tools Housing Market Marketing 360

Real Estate News

JULY 30, 2024

Watch the conversation with MoxiWorks’ new CEO, an industry outsider who believes companies — and agents — should approach the future with a fresh perspective.

Agents 201

Agents 201

Housing Wire

JULY 30, 2024

At the new Homes.com , we always present the listing agent and only the listing agent on any home for sale on our site. Our philosophy is that the leads on an agent’s listings are theirs and clearly not anyone else’s to pilfer and sell. This is not a new principle for us. CoStar Group has operated dozens of industry leading real estate websites for decades and has always operated on the “ Your Listing, Your Lead ” philosophy, because it is the right thing to do.

Agents 355

Agents Real Estate Agent Real Estate Buyers 355

Appraisal Buzz

JULY 30, 2024

Colorado-based mortgage and investment firm Platte River Mortgage & Investments has partnered with Cal que to expand The Trade-In Mortgage in Colorado. The Trade-In Mortgage is a loan option that gives borrowers the ability to use their home equity for purchasing another property prior to selling their present one. Calque provides a guaranteed backup offer; with this in hand, Platte River Mortgage loan officers can write non-contingent financing on the new home and empower their borrowers t

Mortgage 195

Mortgage Loan Officers Investing Buyers 195

Housing Wire

JULY 30, 2024

In response to a poaching lawsuit filed two months by Home Mortgage Alliance Corp. (HMAC), wholesale lender OCMBC Inc. has denied the allegations while countersuing HMAC and its co-founder, Alfred Hanna, on behalf of an employee, Michael Turturro, and his corporation, Jet Alliance. The OCMBC counterclaim brings eight counts, including defamation, breach of contract, fraud and unfair business practices.

Sellers 340

Sellers Business Contracts Mortgage 340

Appraisal Buzz

JULY 30, 2024

Motto Mortgage has opened a new franchise location in Fargo, North Dakota. “Motto Mortgage Premier Pros” is now open serving all markets throughout the Peace Garden State, the company says in a release. Motto Mortgage Premier Pros is a customer-first, full-service mortgage brokerage established by Jared Blankenship and Robert Leslie. The partners together bring a wealth of knowledge to the new brokerage with more than three decades of combined industry experience.

Real Estate 195

Real Estate Brokerage Retail Realty 195

Housing Wire

JULY 30, 2024

Mortgage technology solutions provider CoreLogic on Tuesday announced that its AutomatIQ Borrower tool is expanding to include asset and liabilities analysis capabilities. The company aims to make the product a “one-stop analysis solution for mortgage lending financial institutions,“ it said in its announcements. AutomatIQ Borrower is designed to provide greater integrity and reliability in the loan calculation process, which CoreLogic describes as a historically “labor-intensive and error-prone

Tools 340

Tools Design Technology Lending 340

Appraisal Buzz

JULY 30, 2024

Daniel Manginelli has joined Rate (formerly Guaranteed Rate) to lead the company’s in-house sales coaching platform. Manginelli is author of “SHAKE IT UP! Big Dreams and Bold Choices on the Road to Success” and “Wake Up! Jumpstart The Life You’ve Always Had in Mind.” He has more than 35 years of experience in the mortgage industry. As the founder/owner of the Manginelli Group, he has coached and mentored thousands of salespeople nationwide.

Loan Officers 195

Loan Officers Training Design Tools 195

Housing Wire

JULY 30, 2024

Things are ramping up in the legal battle between Move Inc. (the parent company of Realtor.com ), CoStar Group (the parent of Realtor.com rival Homes.com ), and James Kaminsky, a former Realtor.com employee who now works for Homes.com. A U.S. district court in Los Angeles has granted CoStar’s ex parte motion for expedited discovery in regard to Move’s motion for a preliminary injunction.

Legal 288

Legal Advertising Technology Development 288

Inman

JULY 30, 2024

At the new Homes.com, we always present the listing agent and only the listing agent on any home for sale on our site. Our philosophy is that the leads on an agent’s listings are theirs alone and not anyone else’s to pilfer and sell.

Agents 186

Agents 186

Eyes on Housing

JULY 30, 2024

Home prices experienced a third year-over-year deceleration in May, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index. On a year-over-year basis, the non-seasonally adjusted (NSA) index posted a 5.94% annual gain in May, down from a 6.39% increase in April. Since June of 2023, the index had seen steady increases in the.

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