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As the U.S. hits peak homebuying season, the signals across the country are mixed at best as some markets are accelerating while others are slowing quickly. Inventory continues to build at the national level, something that’s happening most rapidly in the South. Home sales continue to run just a little ahead of last year’s pace, but with mortgage rates in the 7s, there are a ton of potential homebuyers sitting on the sidelines.
I recall receiving MLS books once a month and being thrilled that a whole new population of sales were available to be considered within the pages of each book. By the time I got the new book, the sales were already a bit dated, and since they were only closed sales – they had actually sold a few weeks to months prior. Each month there was a new book, but every 6 months, there was a combined book with the last 6 months of sales in one bound and printed book.
A recently published report by the Financial Stability Oversight Council (FSOC) identified vulnerabilities at nonbank mortgage servicers that pose risks to financial stability. It recommended increased regulation and initiatives to improve these companies’ liquidity during moments of stress, but mortgage trade groups have different reactions to the proposals.
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.
Residential sale-leaseback platform EasyKnock has acquired the assets of home equity investment firm HomePace , the company exclusively told HousingWire on Monday. Goodwin Procter , a global law firm, acted as legal adviser for the deal, but further terms were not disclosed. HomePace, founded in 2020, specializes in helping homeowners access their equity through home equity agreements.
Mortgage rate lock volume increased 8.7% in April compared with March and was up 5% compared with April 2022, according to Optimal Blue’s Originations Market Monitor. It was the first annual gain since the Fed rate hikes began two years ago, in March 2022. The jump in April was mainly driven by an 11.0% month-over-month increase in purchase lock volume.
Mortgage rate lock volume increased 8.7% in April compared with March and was up 5% compared with April 2022, according to Optimal Blue’s Originations Market Monitor. It was the first annual gain since the Fed rate hikes began two years ago, in March 2022. The jump in April was mainly driven by an 11.0% month-over-month increase in purchase lock volume.
Zeb Lowe: How do you feel about the manner companies in this industry are approaching technology in today’s market? Merrick Lackner: It’s no secret that companies are looking to reduce operating expenses, and automation plays an integral role in accomplishing that. The danger of automation-first thinking is it often comes at the cost of the relationship with the customer.
Jason Mapes has joined Floify , which offers a point-of-sale (POS) solution for mortgage lenders, as head of sales. Mapes has 23 years of experience in the mortgage industry. He previously served as director of sales for nCino’s Mortgage Suite. He has also held roles with Ellie Mae (now ICE Mortgage Technology), Unify and Lenders One. His deep understanding of the mortgage technology ecosystem and relationships with mortgage industry professionals will be instrumental in expanding Floify’s marke
Inventory is still low and that’s exactly why it’s important to target the sellers who are more likely to move. This increases your chance of listing opportunities. I suggest finding at least one new opportunity from the list shared below. Perfect your process. Then choose another! To find the listings right now you need to find the sellers that have to move.
Loan quality technology provider LoanLogics has expanded its LoanBeam income calculation product with a broader array of income calculation tools for the same per-application costs. The enhancements will enable lenders to efficiently process income documents related to wage earners in the same service they use to process self-employed borrowers, the firm says in a release.
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.
In 2023, home purchases slowed across the board due to low levels of inventory, high mortgage rates and soaring home prices. Simultaneously, the appetite for second homes also diminished substantially. Nationwide, 90,772 mortgages for second homes were originated in 2023, down 40% from a year earlier and down 65% from the height of the post-pandemic housing boom in 2021, according to a new report from Redfin.
Panorama Mortgage Group has rolled out a new loan program that breaks down the barriers for first-generation, first-time homebuyers with a 1% down payment and 2% grant down payment assistance. This new product – the 1st Generation Homebuyer (1st Gen) loan program – is designed to break down barriers to homeownership for minority and underserved borrowers, the company says in a release.
The HousingWire award spotlight series highlights the individuals and organizations that have been recognized through our Editors’ Choice Awards. Nominations for HousingWire’s 2024 Women of Influence award are open now through May 31, 2024. Click here to nominate someone. HousingWire’s Women of Influence award has become one of the housing industry’s most prestigious honors, celebrating female leaders in housing who cover a wide range of backgrounds.
The lawsuit filed last week alleges that the city of LA took part in "backroom machinations" in order to landmark a house that does not meet criteria for status as a historic cultural monument to "arrange the desired outcome.
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.
A coalition of trade organizations — including the American Bankers Association (ABA), the Housing Policy Council (HPC), the Independent Community Bankers of America (ICBA), the Mortgage Bankers Association (MBA) and U.S. Mortgage Insurers — sent a letter on Monday to the Federal Housing Finance Agency (FHFA) to express concerns about the FHFA’s intent to publish the VantageScore 4.0 historical dataset.
The Social Security Administration (SSA) late last week announced that it is making changes to the Supplemental Security Income (SSI) benefit program. Notably, it is expanding the definition of a “public assistance household” to those receiving Supplemental Nutrition Assistance Program (SNAP) payments and to households “where not all members receive public assistance,” according to the SSA.
As described in a previous post, NAHB recently released its 2024 Priced-Out Estimates showing 103.5 million households are not able to afford a median priced new home and an additional 106,031 households would be priced out if the price goes up by $1,000. This post focuses on the related U.S. housing affordability pyramid, showing how.
The former reverse mortgage team from Norcom Mortgage in Avon, Connecticut — which elected not to move to CMG Financial following its acquisition of Norcom last month — has selected Texas-based Supreme Lending as its new home, with John Luddy serving as SVP of reverse lending. After engaging in conversations with multiple lenders following the news of the team’s departure from Norcom/CMG, Luddy credits Supreme’s Candice McNaught — the lender’s senior vice president of national sales — as the key
Ready to transform the way you communicate your value to clients? Marketing expert Marci James helps you reshape the agent-client relationship by prioritizing clear communication and exceptional results.
Rocket Mortgage , the third largest U.S. mortgage lender, has entered into a conciliation agreement with the U.S. Department of Housing and Urban Development (HUD) to resolve allegations of discriminatory housing practices, the parties announced on Monday. The complaint filed by a couple alleges that the company and a mortgage banker denied a mortgage loan application based on race for a single-family home located within the boundaries of the Flathead Indian Reservation in Saint Ignatius, Monta
Movoto may be a familiar name, but under OJO's ownership the brand is quietly embarking on a David-and-Goliath struggle for a place in the portal pantheon.
Chicago -based mortgage lender Guaranteed Rate rolled out the second wave of its Community Engagement Initiative, the company announced on Monday. Launched in 2023, the program aims to improve funded loan volumes in underserved communities nationwide. “Traditional lending practices have overlooked Black and Latino communities, as well as low to moderate-income areas,” Camilo Escalante, executive director of diverse segments at Guaranteed Rate, said in a statement.
As the demand for ultra-luxury properties persists, learn how agents can rise to the challenge and secure the most coveted listings in today's competitive market.
Compass is continuing to expand its presence in the Southeast, announcing Monday that Tennessee -based Parks Real Estate has merged with the firm This is Compass’ second major merger and acquisition deal in the second quarter of 2024. In April, the Robert Reffkin -helmed firm announced that it had acquired Gulf Coast-based Latter & Blum. Parks Real Estate includes the Pilkerton Realtors brand and is led by CEO Hunter Connelly.
From neglecting digital platforms to disregarding personal branding, Side's Manny Solis writes, here are five critical rookie mistakes that often derail real estate marketing campaigns.
Title firm Mother Lode Holding Co. , a subsidiary of big four firm First American Financial , announced Monday that it has acquired Wisconsin Title Service Co. Inc. The terms of the deal were not disclosed. According to Mother Lode Holding Co., the acquisition includes Wisconsin Title Service Co.’s sister company, Wisconsin Title Closing Service Inc., as well as its title plants in Milwaukee, Waukesha, Walworth and Washington counties.
Forty-nine-year-old Nashville firm Parks Real Estate has merged with Compass. The firm has 15 offices across the state and closed $6.25 billion in sales in 2023.
High mortgage rates and double-digit growth in home prices since COVID-19 have brought housing affordability to its lowest level in more than a decade. Given this reality, a recent NAHB study on housing preferences* asked home buyers about which specific compromises they would be willing to make to achieve homeownership. For 39% of buyers, accepting.
Celebrate AAPI month with Atlanta team leader Amy Tep by taking the time to understand the many different types of people who are part of the AAPI community.
7 Steps to Ensure Your Home Sale Goes Smoothly The real estate market in British Columbia is dynamic and diverse, with bustling urban centers like Vancouver and Victoria alongside picturesque rural communities. Whether selling a cozy condo in the heart of downtown or a sprawling estate in the countryside, having a checklist to sell a house is essential to organizing yourself, maximizing your home’s value, and appealing to potential buyers.
After years of trying to sell the mansion alongside the Potomac River, former Washington Commanders owner Dan Snyder donated the estate to the ACS. Now the charity is attempting its own sale.
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