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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
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.
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
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.
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.
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
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.
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.
As humans, we love projecting our emotions on non-human things like animals, objects and weather events. I’m told the psychological term for this is anthropomorphism, which is difficult to say three times super fast. We especially seem to label human-like characteristics for things that we can’t fully understand or have no means of explaining – like my first car had a ‘bedtime’ since it would always break down at 2 a.m. in the middle of nowhere.
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.
Toronto-based HomeEquity Bank (HEB), Canada ’s leading reverse mortgage lender, announced that Katherine Dudtschak has assumed the role of CEO following the retirement of her predecessor, Steven Ranson. Ranson announced his retirement earlier this year, effective June 30. Dudtschak assumed the CEO responsibilities the following day after preparing to take the top spot starting this past May. “With Katherine’s extensive experience across the financial services industry and with develo
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.
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.
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.
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?
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
An independent brokerage and a former Century 21 franchise just switched affiliations to RE/MAX. The moves come during a time of intense competition for talent.
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.
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.
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.
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.
"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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