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The ongoing lack of housing affordability is prompting more renters to doubt their ability to become homeowners. According to a recent Redfin survey , nearly 40% of U.S. renters don’t believe in their ability to ever own a home, up from roughly 27% less than a year ago. While lack of affordability is the dominant reason for renters to believe they’re unlikely to become homeowners, nearly half of renters feel that available homes are too expensive.
The ruling leaves open the possibility of consolidation after settlements have concluded. But in the meantime, cases that had been on pause can move forward.
Job recruiters in the South are facing hurdles to attract skilled professionals from the Midwest despite offering competitive compensation packages, according to a Bloomberg report published Friday. That’s because many of these potential hires are locked into super-low 30-year mortgages. During the fourth quarter of 2023, the proportion of job seekers in the U.S. who relocated for employment dwindled to a mere 1.5%.
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.
Wells Fargo and JPMorgan Chase usually open the quarterly earnings seasons in the mortgage space, giving analysts something to chew on before nonbanks release their financial reports. In the first quarter of 2024, the big banks showed a challenging reality for originations. The banks’ Q1 2024 earnings, released on Friday, showed declining home loan volumes compared to the prior quarter — and executives believe that the macroeconomic landscape will remain tough in the months to come.
After heating up like the rest of the country, the Louisiana housing market has continued to cool since interest rates began to rise in the second half of 2022. While the slowdown has resulted in a return to pre-pandemic levels of market activity, real estate agents across the state believe that an issue far greater than 7% mortgage rates may cause the housing market to slow further.
Attorneys argued that the home sellers “should not have to wait indefinitely to defend their verdict on appeal” and provided details about the case’s timeline.
The Multidistrict Litigation panel has denied a motion for nine of the commission lawsuits to consolidate. In a decision filed on Friday, Judge Karen Caldwell, who is the chair of the MDL panel, wrote that after hearing arguments from all parties involved, the panel concluded that “centralization is not necessary at this time for the convenience of the parties and witnesses or to further the just and efficient conduct of the litigation.
A panel of judges considering whether to consolidate real estate commission lawsuits into one cited the recent NAR settlement as a reason to deny the request.
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.
Reverse mortgage industry professionals have spoken for months about the consequences of high interest rates on their ability to pursue business, and now AARP has taken a closer look at the impacts. While higher rates are bad news for the mortgage industry in a broad sense, the impact on reverse lending is more nuanced, Bruce Simmons of American Liberty Mortgage in the Denver area explained to AARP.
Tune in for an engaging discussion surrounding the latest trends, predictions and insider knowledge on the 2024 housing market to help you make informed decisions with confidence.
As artificial intelligence continues to grow in prominence, mortgage professionals “must carefully evaluate and manage” their use of AI and “focus on deriving the benefits while avoiding potentially catastrophic risks.” That’s one of the key conclusions reached by the BlackFin Group in a recently published white paper, “Artificial Intelligence (AI) in Mortgage Banking.
Ginnie Mae has further expanded its low-to-moderate income (LMI) disclosure initiative to include pool-level data for its home equity conversion mortgage (HECM) mortgage-backed securities (HMBS) program. Ginnie Mae’s new HMBS LMI disclosures cover active loans pooled from 2012 through the present time, the firm says in a release. This expansion continues Ginnie Mae’s work to enhance its securities disclosures, which began three years ago.
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.
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The HousingWire award spotlight series highlights the individuals and organizations that have been recognized through our Editors’ Choice Awards. Nominations for HousingWire’s 2024 Marketing Leaders are open until April 30, 2024. Click here to nominate someone from your organization today. If there’s one word to describe today’s successful marketers in mortgage and real estate it’s “adaptable.
Real estate professionals have been seeking answers since Wednesday, when many lost access to their personal websites, lead services and other tools provided by Boomtown, agents told Inman.
Over the first two months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 155,236. On a year-over-year (YoY) basis, this is an increase of 38.4% over the February 2023 level of 112,131. Year-to-date ending in February, single-family permits were up in all four regions. The range of permit increase spanned.
Most new franchisees signing up for Motto's "mortgage brokerage-in-a-box" solution are real estate brokerages and teams that aren't affiliated with RE/MAX.
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The estate is being listed by Branden and Rayni Williams of The Beverly Hills Estates for $55 million as it simultaneously prepares to head to a no-reserve auction with Concierge Auctions from May 9 through May 23.
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