Housing Wire

JULY 3, 2024

The U.S. Department of Housing and Urban Development (HUD) on Wednesday announced that it has released five new language translations for 19 separate single-family mortgage documents used for Federal Housing Administration (FHA)-insured mortgage servicing. The new translations — which are available in Chinese, Korean, Spanish, Tagalog and Vietnamese — are accessible from FHA’s language access webpage and are designed to “assist lenders, servicers , housing counselors , and other FHA program part

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Appraisal Buzz

JULY 3, 2024

The Tunnel to Towers Foundation , in honor of Independence Day, has announced that it has delivered 35 mortgage-free homes to fallen first responder families nationwide. In addition to providing mortgage-free homes to 34 fallen first responder families in 18 states, the Tunnel to Towers Foundation has welcomed injured Mississippi Army National Guard Sergeant James “Carl” Sampson and his family to their new mortgage-free smart home in Picayune, Mississippi.

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Housing Wire

JULY 3, 2024

Mortgage applications declined by 2.6% on a seasonally adjusted basis during the week ending June 28, according to data released Wednesday by the Mortgage Bankers Association (MBA). The trade group cited upward movement in mortgage rates as the key reason why. According to HousingWire ’s Mortgage Rates Center , the average rate for 30-year conventional loans was at 7.12% on Wednesday, up from 7.06% a week earlier, while the 15-year conventional rate rose from 6.70% to 6.96% during the same perio

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Appraisal Buzz

JULY 3, 2024

In a dramatic turn for the U.S. economy, commercial bankruptcies have soared in the first half of 2024, marking a significant increase from the previous year. According to data released by Epiq AACER, a provider of bankruptcy filing data, a total of 3,016 commercial chapter 11 bankruptcies were filed in the first six months of 2024. This figure represents a striking 34% rise compared to the 2,247 filings recorded during the same period in 2023.

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Housing Wire

JULY 3, 2024

Christie’s International Real Estate Belgium is expanding its operation to Brussels, according to an announcement on Tuesday. The firm is already well established in Flanders, but the latest move expands its reach into the French-speaking southern region of the country. It is the brokerage’s 12th office in the country, and it will be led by Jean-Marc Delcroix, who is joining Christie’s International Real Estate after seven years working as a commercial director at Sotheby’s Internati

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Appraisal Buzz

JULY 3, 2024

According to a new report from CoreLogic, annual home price gains have dipped below the 5% mark for the first time since October while monthly gains posted a 0.6% growth rate, a number that is in line with statistics from before the pandemic. The data also showed that all 50 states saw home prices grow, ranging from 0.9% in Louisiana to 12% in New Hampshire.

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Appraisal Buzz

JULY 3, 2024

A rule that would exclude medical bills from the majority of credit reports, strengthen privacy rights, improve credit scores and loan approval rates, and stop debt collectors from exploiting the credit reporting system to force people to pay was recently proposed by the Consumer Financial Protection Bureau (CFPB). The idea would forbid lenders from basing lending choices on medical information and restrict credit reporting companies from disclosing medical debts to lenders.

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Housing Wire

JULY 3, 2024

After being voluntarily dismissed from the Batton 2 homebuyer commission lawsuit in early March, things were looking up for Howard Hanna Real Estate Services. But the brokerage firm is once again finding itself under fire after homebuyer plaintiff Scott Davis filed a suit against the firm’s parent company, Hanna Holdings , on May 31. The suit was filed in U.S.

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Appraisal Buzz

JULY 3, 2024

In a new study, researchers at Florida Atlantic University and Florida International University claim that Detroit has surpassed Atlanta as the most expensive housing market in the U.S., after the city topped the list of inflated housing markets for more than a year. As of the end of May, data from the Top 100 U.S. Housing Markets indicates that homes in the Detroit metro region are 40.79% overvalued in relation to their long-term pricing patterns.

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Housing Wire

JULY 3, 2024

Today’s housing market suffers from affordability issues due to mortgage rates in the 7s and high home prices. People are quick to panic over any part of the housing market that looks stressed, fearing we’ll see 2008 levels of destruction all over again. But while home sales are trending at the lowest levels ever when adjusting to the workforce, we have some very positive housing data lines in 2024 compared to the stressed housing markets of past years.

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Appraisal Buzz

JULY 3, 2024

Today on the Appraisal Buzzcast, host Hal Humphreys speaks once again with Peter Christensen, attorney/owner at Valuation Legal, CE instructor at Appraiser eLearning, and one of our highest rated Buzzcast guests. What are some current court cases and lawsuits affecting appraisers today? What are some things appraisers can be doing to protect themselves and make sure they aren’t at risk for one of these lawsuits?

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Housing Wire

JULY 3, 2024

Move Inc., the parent company of Realtor.com , is suing CoStar Group , the parent company of rival Homes.com , over the alleged theft of portal data and documents. In a complaint filed on Tuesday in U.S. District Court in California, Move alleges that James Kaminsky, a former employee who now works for CoStar, stole trade secrets to help fuel the rapid growth of Homes.com.

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Real Estate News

JULY 3, 2024

Realtor.com’s parent company claims an ex-employee logged into its systems “at least 37 times” and “stole confidential business information” to benefit CoStar.

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Business 312

Housing Wire

JULY 3, 2024

The New York Stock Exchange (NYSE) on Wednesday announced that the warrants of Finance of America , traded under the ticker symbol “FOA.WS,” will be delisted from the exchange. The class A common shares traded under the “FOA” ticker symbol, however, will continue to be traded. “Trading in the warrants will be suspended immediately,” NYSE stated. “Trading in the Company’s Class A common stock — ticker symbol FOA — will continue on the NYSE.

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Real Estate News

JULY 3, 2024

Hard truths emerged during a talk about real estate’s future: Consumers expect more, and agents will have to “work harder for less money” to prove their value.

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Agents 290

Housing Wire

JULY 3, 2024

Affordability in the housing market is as bad as it’s been in more than three decades — and relief isn’t coming this year. That’s the conclusion of First American ’s Real House Price Index (RHPI) report for May, which shows a 9% year-over-year decline in affordability. The increase in the RHPI was driven by 5.9% growth in nominal home prices and a jump of 0.6% in the 30-year fixed mortgage rate compared to a year ago.

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Real Estate News

JULY 3, 2024

With average rates approaching 7%, it’s still a tough housing market — but there are signs it may be easing.

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Housing Market Mortgage Marketing 290

Housing Wire

JULY 3, 2024

The Federal Housing Administration (FHA) this week announced that its FHA Connection (FHAC) portal — which provides FHA-approved lenders and business partners with secure online access to computer systems at the U.S. Department of Housing and Urban Development (HUD) — will be updated to accommodate the implementation of a new Reconsideration of Value (ROV) policy for appraisals.

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Appraisal Buzz

JULY 3, 2024

More than half of American homeowners who have escrow accounts received a refund from their mortgage service provider last year. And while an overwhelming majority of them say they prefer digital payments over checks or other forms of physical payments, companies continue to put checks in the mail. Today’s active lending market presents ample opportunities for companies to improve the homeownership, purchasing, and refinancing experience by updating existing refund-payout processes, according to

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Inman

JULY 3, 2024

Mortgage rates are on the rebound despite encouraging inflation data, as Fed policymakers warn "higher for longer" rate strategy will remain in place until they see more conclusive evidence the economy has cooled.

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Mortgage Marketing 195

Appraisal Buzz

JULY 3, 2024

Disrespectful landlords, fear of eviction and discrimination, maintenance woes—these are just a few problems American renters report, according to a survey by LendingTree. Data analysts found that 33% of renters say they have been treated unfairly based on factors such as race and age, for example. The majority of renters, 58%, say they have had at least one landlord they did not like.

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Inman

JULY 3, 2024

Sale-leaseback platform tells NPR civil lawsuits in Texas and other states are "meritless" and that it's cooperating with attorneys general in Massachusetts and Michigan.

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Buyers Tools Technology Mortgage 189

Appraisal Buzz

JULY 3, 2024

Mortgage rates went back on the rise this week, with the average rate for a 30-year fixed-rate mortgage increasing to 6.95%, up from 6.86% last week and up from 6.81% a year ago, according to Freddie Mac’s Primary Mortgage Market Survey. “Mortgage rates increased this week, coming in just under seven percent,” says Sam Khater, chief economist for Freddie Mac, in a statement.

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Inman

JULY 3, 2024

Awarded since 1998, the Inman Innovator Awards honor the thought leaders making new visions of real estate a reality. Winners will be announced live at Inman Connect Las Vegas, July 30-Aug 1.

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Appraisal Buzz

JULY 3, 2024

Mortgage application volume decreased 2.6% during the week ended June 28, as the average rate for a 30-year, fixed-rate mortgage increased to 7.03%, up from 6.93% the previous week, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Applications for refinances decreased 2% compared with the previous week but were up 29% compared with the same week one year ago.

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Mortgage Inventory Appraisal Marketing 195

Inman

JULY 3, 2024

"Competitors should never be allowed to cheat and steal to get ahead," Move, Inc. attorneys claim in a new suit alleging an ex-Realtor.com employee maintained access to the data while at CoStar.

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Eyes on Housing

JULY 3, 2024

The rising trend of two or more stories homes reversed in 2023, according to data obtained from the US Census Bureau’s Survey of Construction (SOC) and tabulated by NAHB. The share of homes started with two or more stories decreased for the first time in 2023 after gains in the previous two years. Despite the.

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Construction 122

Inman

JULY 3, 2024

Massoud Atallah joins the New England-based brokerage that has its sights set on rapid expansion. "We are 100 percent on offense," Lamacchia told Inman.

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Realty Brokerage Real Estate Agents 151

BiggerPockets

JULY 3, 2024

These under-the-radar markets still have plenty of affordable inventory and could be potential goldmines for short-term rental investors.

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Investors Marketing Inventory Housing Market 94

Inman

JULY 3, 2024

Now more than ever, creating a positive perception around the service you provide is essential. Jonathan Pressman offers nine ways to make sure your brand is synonymous with integrity.

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Clients Agents Marketing 148

BiggerPockets

JULY 3, 2024

After six months, Liz's personal property is on the market and the 1031 exchange process is almost set.

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Marketing Real Estate 91

Inman

JULY 3, 2024

Keller Williams has appointed four new executives for its commercial, coaching and philanthropy divisions. KW President and CEO Mark Willis said the new hires are committed to bolstering "shared success and growth.

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Brokerage 148

BiggerPockets

JULY 3, 2024

Earning financial independence requires making sacrifices that not many talk about.

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Inman

JULY 3, 2024

The Inman Connect Las Vegas agenda is stacked with business-building strategy sessions, interactive roundtables, and networking activities all designed to help you turn the changes coming your way into opportunities. Here's a glimpse at a few of the highlights.

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