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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.
The small decline in year-over-year transaction volumes last month hasn’t dampened agents’ enthusiasm, per the June 2024 Agent Survey by The Real Brokerage Inc. Almost half of agents surveyed remain optimistic about the next 12 months, though still worried about affordability difficulties. “June’s survey showed that our agents are optimistic about the future, despite the prevailing interest rate environment.
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.
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).
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.
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.
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.
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.
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.
VantageScore, a joint venture of the three major credit bureaus (Equifax, Experian, and TransUnion) managed by an independent body, VantageScore, has released its June 2024 CreditGauge report, offering a detailed analysis of the current state of U.S. consumer credit. The report highlights record-high credit originations year-to-date across all generations and credit tiers, fueled by increased bank lending.
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
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.
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.
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.
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.
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.
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.
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.
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.
The Houston Association of Realtors formed a data share partnership with the largest Latin American MLS, giving members access to listings across 22 countries.
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.
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
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.
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.
Watch the conversation with MoxiWorks’ new CEO, an industry outsider who believes companies — and agents — should approach the future with a fresh perspective.
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.
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
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.
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.
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.
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 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
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.
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.
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.
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