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Despite the necessary requirement for a homeowner to maintain insurance on their property for protection against human- and naturally-occurring disasters, the impacts of climate change are creating “natural” scenarios that are increasingly not covered by insurance. Such instances are accelerating in different parts of the country, leading insurers to drastically increase their prices, or, in some cases, pull out of areas they deem problematic.
Despite higher mortgage rates, more than 90% of U.S. metros posted home price gains in the first quarter, according to the National Association of Realtors (NAR). “Astonishingly, greater than 90% of the country’s metro areas experienced home price growth despite facing the highest mortgage rates in two decades,” says Lawrence Yun, chief economist for NAR, in a statement.
Despite a challenging operating environment and broader concerns among industry professionals about connecting with new borrowers, the reverse mortgage industry’s key performance indicators showed improvements last month. Home Equity Conversion Mortgage (HECM) endorsements increased by 2.3% to 2,105, while HECM case numbers also trended higher, continuing a streak of consecutive monthly increases.
The average rate for a 30-year fixed-rate mortgage fell to 7.09% this week, down from 7.22% the previous week, according to Freddie Mac’s Primary Mortgage Market Survey. It was the first time in five weeks that mortgage rates decreased. “After a five-week climb, mortgage rates ticked down following a weaker than expected jobs report,” says Sam Khater, chief economist for Freddie Mac, in a statement.
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.
After months of uncertainty, the real estate industry has a reason to celebrate, at least a little bit. Judge Stephen Bough has granted final approval to the commission lawsuit settlement agreements reached by Anywhere , RE/MAX and Keller Williams on Thursday. As part of their settlement agreements, Anywhere, RE/MAX and Keller Williams have agreed to pay $83.5 million , $55 million and $70 million , respectively.
Last year I purchased a pickleball set and have threatened to give it a try. It’s on me and my wife’s list of things to do this summer. We’ve determined that while we could throw our back out just standing up, bending over to pick something up, or sneezing, we still need to keep moving. According to the article below, “Nearly 70% of adults reported reduced stress and anxiety after playing pickleball, and 64% called the sport “uplifting,” according to a report
Last year I purchased a pickleball set and have threatened to give it a try. It’s on me and my wife’s list of things to do this summer. We’ve determined that while we could throw our back out just standing up, bending over to pick something up, or sneezing, we still need to keep moving. According to the article below, “Nearly 70% of adults reported reduced stress and anxiety after playing pickleball, and 64% called the sport “uplifting,” according to a report
Portside Real Estate Group , led by Dava Davin, has acquired Lakepoint Real Estate , led by industry veteran Dan McCarron, the company announced on Wednesday. It is the second company that Portside has acquired. In 2018, the brokerage onboarded RE/MAX Heritage in Yarmouth, Maine , led by Mike Lepage. As a result, Davin’s brokerage boasts 165 agents all over Maine and on the seacoast of New Hampshire.
Rocket Companies , the parent company of Rocket Mortgage , hired its first chief technology officer this week, bringing former Thomson Reuters and Intel executive Shawn Malhotra into the fold. The hire is Rocket’s latest move to bolster its already robust investment in artificial intelligence. Varun Krishna, Rocket Companies CEO, sat down with HousingWire CEO Clayton Collins at The Gathering event several weeks ago to talk about the company’s AI strategy and their new AI tool, Synopsis.
Despite a last-minute motion to delay the hearing, the proceedings went on as scheduled, ending buyer agent commissions litigation for the three brokerages.
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.
Guild Holdings Company , parent company of Guild Mortgage , recorded a 6% increase in mortgage originations and much higher revenue levels in the first quarter of 2024 than in 2023. Net income saw substantial improvements as the company continues to pursue an active acquisition strategy, according to an earnings report for Q1 released on Thursday. “I am pleased to report that our first-quarter results demonstrate the continued success and disciplined execution of our strategy with growth in orig
PERSON OF THE WEEK: At a time of lower-profit margins, a growing number of mortgage lenders are looking to lift their balance sheets by offering construction-to-per loans. This has led to the current boom in construction loan administration software designed to manage and simplify these complex products. But when it comes to construction lending technology, the options are as vast as they are unique.
UWM Holdings Corp. , the parent of United Wholesale Mortgage (UWM), returned to profitability in the first quarter of 2024 despite higher rates, a lack of inventory and a decline in the fair value of its mortgage servicing rights (MSRs). The quarter’s positive performance was supported by increased origination volumes at improved margins and servicing sales, which resulted in a non-GAAP net income of $141 million from January to March, compared to a $361 million loss in the previous quarte
GenWay Home Mortgage Inc., a GNMA Issuer headquartered in Richardson Texas, has joined the NHAP, a cloud-based technology solution seamlessly connecting key stakeholders in the residential mortgage banking industry on a unified, single-sign-on platform. Through the HomePrep module within the NHAP, HUD-approved counseling agencies (HCAs), connect to other NHAP participants like state housing finance agencies, Freddie Mac, independent mortgage bankers, state-chartered and national banks, private
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.
The ruling by Judge Stephen R. Bough on Thursday resolves antitrust claims in the Sitzer | Burnett, Moehrl and Nosalek commission cases. However, it won't quash other existing suits from buyers.
Confidence in the market for new multifamily housing declined year-over-year in the first quarter of 2024, according to results from the Multifamily Market Survey (MMS).
Diversity is the way of the future, writes The Agency’s Mauricio Umansky. Here, he unpacks the advantages of intentionally building a diverse team for your clients, your agents and your business.
Want your agents to look forward to meetings? Broker Joseph Santini shares five tips for making your office meetings must-attend events (and five things to avoid at all costs).
Q1 net earnings of $180.5 million were boosted by the sale of $70 billion in mortgage servicing rights (MSRs) and a $141 million markup in the value of the $230 billion in MSRs UWM retained.
Think it’s too late for early retirement? Do you feel like just because you’re in your late thirties, forties, or fifties, FIRE doesn’t make sense for you?
The share of seriously underwater mortgages moved up slightly from 2.6 percent to 2.7 percent in the first quarter, according to a report from Attom released Thursday.
CEO Marco Fregenal says the flat-fee brokerage is making progress toward achieving 2024 goals despite seasonality and broader industry challenges driving a $5.9 million Q1 net loss.
The trade group had earlier signaled plans to raise dues in 2025, but during a board of directors meeting Thursday at the Realtors Legislative Meetings voted 894-20 to keep them at $156.
An LGBTQ+ Real Estate Alliance survey has revealed the challenges of retirement for LGBTQ homeowners, who worry about safety and acceptance more than their straight counterparts.
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