Housing Wire
SEPTEMBER 17, 2024
Home equity solutions provider Unison launched a new product on Tuesday that combines the features of traditional mortgage financing and emerging home equity investment (HEI) options. The San Francisco -based Unison calls its new offering the Equity Sharing Home Loan. The company explained that the product operates as a ”hybrid between debt and equity.
Appraisal Buzz
SEPTEMBER 17, 2024
According to a new Zillow Home Loans analysis , monthly mortgage payments have grown less expensive than rent prices in 22 of the 50 largest U.S. metros. Recent dips in mortgage rates, which have fallen to the lowest level since early 2023, have significantly reduced monthly payments. According to the latest Primary Mortgage Market Survey (PMMS) from Freddie Mac, the 30-year fixed-rate mortgage (FRM) dropped last week to its lowest level since February 2023, coming in at 6.20%.
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Housing Wire
SEPTEMBER 17, 2024
Homebuilder confidence has been declining for months, but positive developments with mortgage rates are giving them a rosier outlook. That’s according to the September Housing Market Index (HMI) from the National Association of Home Builders (NAHB) and Wells Fargo. The index rose to 41, growing by two points relative to August. A score above 50 means that a majority of builders are confident about market conditions.
Appraisal Buzz
SEPTEMBER 17, 2024
A new report by BMO Financial Group reveals that 37% of Americans are using artificial intelligence (AI) to manage their finances and investments, with 61% of that share being members of Generation Z. Sixty-four percent of survey respondents said they did not think AI can understand the emotional component of financial planning. For Americans leveraging AI to help manage their finances, the most common uses include educating themselves about personal finance (49%), creating and/or updating house
Housing Wire
SEPTEMBER 17, 2024
Federal Reserve policymakers are expected to lower the benchmark interest rate on Wednesday for the first time in more than four years. But it appears to be anyone’s guess as to how large the cut will be. Interest rate traders were giving shorter odds on Tuesday afternoon to a cut of 50 basis points (bps), which would trim the Fed’s target range to 4.75% to 5%.
Appraisal Buzz
SEPTEMBER 17, 2024
For a variety of reasons, community connection has felt unattainable in recent years, and the need for it has become more pressing. According to a 2023 study on America’s “loneliness epidemic” by the U.S. Surgeon General , around one in two adults in the country suffer from loneliness as a result of social separation. The thrill of becoming a homeowner and the sense of community that comes with it continue to motivate buyers even in the wake of the pandemic.
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Appraisal Buzz
SEPTEMBER 17, 2024
The Federal Housing Finance Agency (FHFA) has released an interactive tool for tracking data on multifamily mortgages that enables users to review details about loans and properties at both the state and national levels. The tool, known as a data visualization dashboard, provides a more accessible way to view and understand data on multifamily mortgages.
Housing Wire
SEPTEMBER 17, 2024
The spread on mortgage-backed securities (MBS) trouble many industry professionals, and at a recent roundtable discussion, it spurred an interesting discussion on the degree of risk being absorbed by Fannie Mae and Freddie Mac. At policy panels held by the Community Home Lenders of America (CHLA) on Monday in Washington, D.C., former Federal Housing Financing Agency (FHFA) director Mark Calabria made the argument that a larger credit box has caused the government-sponsored enterprises (GSEs) to
Real Estate News
SEPTEMBER 17, 2024
While a rate cut — which could further drive down mortgage rates — would help homebuyers, there are other headwinds at play in the final months of 2024.
Housing Wire
SEPTEMBER 17, 2024
Anthony Casa, President & CEO of UMortgage , isn’t mincing words when it comes to the lending practices that often victimize our veterans. “Our veterans deserve better. Unfortunately, it’s far too common for lenders to prioritize their own profits over the financial well-being of those who have served our country,” Casa shares. “These lenders take advantage of the profit margins on VA loans to charge veterans inflated fees and higher interest rates.
Inman
SEPTEMBER 17, 2024
The new commission rules are confusing. Compliance expert Summer Goralik unpacks whether it’s possible to confirm if a seller is willing to compensate buyer’s agents.
Housing Wire
SEPTEMBER 17, 2024
The government of Canada is moving to federally fund research from Ontario-based Brock University, which will seek to better understand how smart-home technology impacts the prospects for older people wanting to age in place in their homes. Technology companies, entrepreneurs and governments alike have been showing additional signs of interest in smart-home technology and the potential relief it could provide for seniors looking to remain in their homes.
Inman
SEPTEMBER 17, 2024
Mortgage rates have dropped to their lowest levels since 2023 in 22 of the 50 largest U.S. metros — even as rent prices continue to rise, according to a new analysis from Zillow released on Monday.
Housing Wire
SEPTEMBER 17, 2024
The role of the buyer’s agent has been turned on its head and Lone Wolf Technologies wants to help. The real estate software company is launching a “Buyer’s Agent Club” that is designed to assist agents in navigating an uncertain time in the industry through resources, tools and training. “For decades, Lone Wolf has been a pillar in real estate technology, and for good reason,” Lone Wolf CEO Jimmy Kelly said in a statement. “We’ve always made it a priority to innova
Inman
SEPTEMBER 17, 2024
If you want to add to your safety and security toolbox, build value, protect your clients and stay safe in the field, check out these recommendations from Tracey “The Safety Lady” Hawkins.
Housing Wire
SEPTEMBER 17, 2024
Industry-leading reverse mortgage lender Finance of America (FOA) on Tuesday announced updates and new details for a previously announced exchange offer , which would swap current investor bonds due in 2025 with new bonds due one to four years later. The current unsecured notes, due in 2025 with an interest rate of 7.875%, could be swapped for one of two new bond options — those with the same interest rate due in 2026 (with a company option to extend into 2027), or new bonds with a 10% interest
Inman
SEPTEMBER 17, 2024
Whether it’s buyers trying to nickel and dime your sellers or sellers asking for a piece of your commission, trainer Bernice Ross writes, the key is to put your foot down and say no.
Housing Wire
SEPTEMBER 17, 2024
Higher mortgage rates and related affordability challenges are putting the squeeze on homeowners who have fallen behind on their mortgage payments, but foreclosure activity took a step back in August. According to the monthly foreclosure report from Attom , foreclosure filings fell 5.3% compared to July and completed foreclosures dropped by 12%. A total of 30,227 homes faced foreclosure filings, a far cry from the 300,000 per month seen during the 2008 financial crisis.
Inman
SEPTEMBER 17, 2024
A new solution to help brokers administer financial benefits to agents is now available from Tongo, a company that “builds financial products that cater to the needs of the commission economy.
Housing Wire
SEPTEMBER 17, 2024
Curbio, a home renovation startup that specializes in pre-sale work, has agreed to settle fraud allegations made by the Office of the Attorney General for the District of Columbia. As part of the settlement, Curbio agreed to pay $7.5 million. The company denied wrongdoing and said in a statement that it agreed to the settlement because “the time and money we would spend over the next two years to clear our good name would be better spent doing what we do best.
Inman
SEPTEMBER 17, 2024
After buying a Tribeca penthouse for $9 million cash in 1999, the pop star has borrowed millions in loans on the pad's equity in order to fund her lavish lifestyle.
Housing Wire
SEPTEMBER 17, 2024
Global investment firm Carlyle has agreed to purchase up to $300 million of equity sharing home loans from home equity solutions provider Unison. Carlyle also made a strategic investment into the San Francisco-based Unison, enabling it to launch its Equity Sharing Home Loan product. “We are excited to partner with Unison to provide an attractive solution for homeowners to access their appreciating home equity,” Akhil Bansal, Carlyle’s head of credit strategic solutions, said in a st
Inman
SEPTEMBER 17, 2024
The company denied wrongdoing and said it had agreed to settle with plaintiffs in an attempt to move on and continue growing the business.
Housing Wire
SEPTEMBER 17, 2024
To get a sense for what the mood is among real estate agents right now, look no further than Portland , Oregon. Like the vast majority of the country, the city’s housing market has been stymied by high mortgage rates, low inventory and mismatched expectations between buyers and sellers. But now that the new rules related to the National Association of Realtors ‘ (NAR) settlement have taken effect, there’s added confusion, anxiety and uncertainty, leaving agents to wrestle with tensions at
Inman
SEPTEMBER 17, 2024
Despite its problems, brokerage CEO Sean Frank writes, NAR membership is still the logical option for real estate professionals.
Housing Wire
SEPTEMBER 17, 2024
Global investment firm Atlas Merchant Capital and Florida-based lender A&D Mortgage have announced a joint venture (JV) to expand A&D’s $7 billion mortgage securitization platform. The JV, which will draw from a combination of internal and third-party capital sources, will purchase mortgages originated and serviced by A&D and other lenders.
Real Estate News
SEPTEMBER 17, 2024
Mauricio Umansky pledges a court fight against NAR, while Compass and Redfin CEOs take opposite sides on the policy.
Inman
SEPTEMBER 17, 2024
Law professor estimates the plaintiffs' law firms are asking for only 3 percent of the total value of the deals when 'historic' business practice changes are taken into account.
Birmingham Appraisal
SEPTEMBER 17, 2024
The Importance of Location in Home Pricing As real estate professionals, we all know the saying: “Location, location, location.” It’s one of the most important factors when evaluating a property’s value, yet it’s often misunderstood or overlooked during the Comparative Market Analysis (CMA) process. I thought I would take time today to explain why real estate agents should consider location differences when pricing a listing.
Inman
SEPTEMBER 17, 2024
After 12 years on the market, Jordan’s Highland Park mansion is finally in contingency following price cuts totaling nearly $15 million. In the end, the final list price clocked in at $14.855 million.
Mortgagebroker News
SEPTEMBER 17, 2024
Expert says higher mortgage caps and expanded amortizations will make homeownership easier
Inman
SEPTEMBER 17, 2024
Lenders have gotten into the habit of helping some homebuyers avoid jumbo loans by raising their limits before an official announcement by Fannie Mae and Freddie Mac's federal regulator.
Mortgagebroker News
SEPTEMBER 17, 2024
But many still face financial struggles despite improving economic confidence
Inman
SEPTEMBER 17, 2024
Announced Friday, the merger will unite RE/MAX Key Properties and West + Main Homes Oregon. The new company will tout the RE/MAX name and resume operations with nearly 90 agents.
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