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Mortgage rates continue to rise, serving as a bucket of cold water for lenders and consumers that were warming to lower borrowing costs just a few months ago. According to HousingWire ‘s Mortgage Rates Center , the average 30-year conforming rate was 6.61% on Tuesday. That was up 15 basis points (bps) from one week ago and 30 bps higher than on Sept. 18, when the Federal Reserve lowered benchmark rates by 50 bps.
According to a new study by LendingTree , the current state of the home buying market seems so unattainable for many, as the American dream of home ownership continues to elude many hampered by continued affordability concerns. More specifically, for renters, LendingTree found that 62% of those who rent expressed that they are worried they will never be able to own a home.
Feeling overwhelmed by all the AI talk? It’s understandable. Artificial intelligence (AI) has become a hot topic across every facet of life, including the real estate and title industries. Many title professionals are asking how AI can be used safely and effectively to improve daily operations. In this article, we’ll explore practical ways title companies can leverage AI to stay competitive in a fast-changing landscape, offering actionable tips to help you integrate these emerging tools respons
According to a new report, during Q3 of 2024, there was a small increase in the delinquency rates for mortgages secured by commercial buildings. This is in line with the most recent Commercial Real Estate Finance (CREF) Loan Performance Survey from the Mortgage Bankers Association (MBA). “Delinquency rates for commercial mortgages backed by office properties continued to increase during the third quarter but declined for loans backed by lodging, retail and industrial properties,” said Jamie Wood
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 Real Brokerage is keeping attendees of RISE, its third annual agent conference, on their toes. From the RISE stage in Las Vegas , Real unveiled three new products for agents and clients on Tuesday. The first product launched is an upgrade to Leo, the AI assistant the firm first debuted during the summer of 2023. The upgrade, known as Leo CoPilot, will serve as an agent command center and will also become the main interface agents use to manage reZEN, Real’s agent platform.
Creating content for your website, communicating with your sphere of influence and marketing your latest listing are all easy with the help of artificial intelligence, Luke Babich writes.
Creating content for your website, communicating with your sphere of influence and marketing your latest listing are all easy with the help of artificial intelligence, Luke Babich writes.
The Consumer Financial Protection Bureau (CFPB) has finalized a rule that lays the groundwork for open banking in the U.S. financial system, including the mortgage sector. But this rule has sparked mixed reactions within the industry, reflecting both enthusiasm and concerns. Announced on Tuesday, the new rule mandates that financial providers — including banks, credit card issuers and mortgage companies — share personal financial data for free with their peers when customers request it.
Now that buyer agency compensation rules are in place, Trina Gonzales-Van writes, the NAR, regulatory bodies and significant stakeholders must consider their impact on borrowers and determine whether these policies do more harm than good.
The third-quarter financials for Pennymac Financial Services illustrate the double-edged sword of declining interest rates for mortgage companies. It can improve loan production and acquisitions but hurt their servicing portfolios. When factoring both impacts on its earnings, the California -based lender delivered a profit of $69.4 million from July to September.
Astrid Vermeer has joined the Mortgage Bankers Association (MBA) as senior vice president, chief financial officer. Vermeer has more than 20 years of financial leadership experience at acclaimed organizations in the fields of international development and education. She previously served as the chief financial and administrative officer for the Perkins School for the Blind, where she managed a $100 million operating budget and was the lead executive for several operations, including legal, fina
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eXp Realty continues to add agents and teams at a fast clip. The company announced the addition of the Maine -based Realty ONE Group, a 36-agent team that has closed 338 transactions totaling $128 million in sales volume so far this year. The team is led by Steven Brackett, who has been part of Realty One Group for six years. According to eXp, the group specializes in residential real estate, fix-and-flips and investment properties. “I’ve realized that my greatest strength lies in seeking,
Most haven't, data shows, as they wait for the post-settlement dust to settle. Instead, they’re leaning into agent relationships and rethinking incentives.
Guaranteed Rate Affinity announced a promotion on Tuesday as the joint venture company named 22-year industry veteran Mark Rawls as vice president of mortgage lending. Rawls is the latest addition to a leadership team of seven executives at the developing company. Guaranteed Rate Affinity was formed in 2017 through a partnership between Rate , formerly branded as Guaranteed Rate , and Anywhere Real Estate , formerly known as Realogy.
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.
Unexpected financial hardships are an unfortunate but not uncommon challenge facing many homeowners. To help overcome these obstacles, Sagent has created its Dara Loss Mitigation platform as a solution that modernizes how homeowners and mortgage servicers address financial hardship. Modernizing the hardship application process Traditionally, applying for mortgage assistance has been cumbersome, involving extensive paperwork, excruciatingly long cycles of communication (and miscommunication), and
Revenue was up 11%, and the company plans to accelerate the growth of the Homes.com sales team despite some slowdown in traffic from the previous quarter.
Mortgage technology company Uplist has launched what it says is a killer new tool that will help loan officers automatically generate refinance options for their clients. The technology, called “Recapture,” is integrated with the leading pricing engines, and it provides LOs with timely, accurate data that identifies multiple refi opportunities for clients.
Fannie Mae has released a new report showing that while it can be a hassle, borrowers must pay closing expenses, which are fees and charges associated with finalizing a property purchase or mortgage refinance. Title insurance charges, appraisal fees, settlement fees, borrower credit report fees, mortgage origination fees, and real estate agent commissions are a few examples.
Financial readiness technology firm FinLocker has partnered with FirstHome IQ , a nonprofit organization that is “committed to providing the next generation of homebuyers with financial education.” The two organizations said Tuesday that they’re focused on empowering Generation Z with the knowledge, tools and confidence needed to “break through financial barriers and make homeownership an attainable goal.” Record-high home prices, inflation and elevated mortgage rat
With the Fed’s recent rate cut and more cuts forecast, now may be a great time to start a title business. In this MortgageOrb Q&A, Joseph D’Urso, CEO of Lincoln Abstract & Settlement Services and TitleEase – both under parent Lincoln Holdco – explains why. Q: Is now a good time to start a title business? What impact will the Federal Reserve’s cut in interest rates in September have?
The campaign's transparency was questioned following a decision to post "cumulative" financials instead of annualized profits in a pitch sent to investors that drew fire from an industry analyst.
FinLocker is partnering with FirstHome IQ to provide young consumers with the tools to improve their financial health The partnership is aimed at increasing financial literacy among high school students, college graduates and Gen Z future homebuyers. Currently, only 26.3% of U.S. public high school students are guaranteed to take a personal finance course , so it’s not surprising to see many young individuals lacking the skills to manage their finances effectively.
Costa Mesa, California-based provider of debt consolidation loans saw most of its business dry up last year and was evicted from its headquarters in May, according to Connecticut regulators who revoked the company's license on Oct. 2.
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Lorber had served as chairman since 2003 but in the months leading up to his retirement faced scrutiny following a pattern of financial losses and the Alexander brothers scandal.
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Murray and his ex-wife, Corcoran broker Mickey Murray, built the Yellow House in the 1980s after buying the property for $305K. The 5,177-square-foot home sits on the site of a 19th-century barn.
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