Housing Wire

AUGUST 28, 2023

Two days after a New York Times exposé of alleged sexual harassment and a culture of fear at the National Association of Realtors , President Kenny Parcell announced his resignation. Parcell was called out for alleged sexual harassment by 16 of the more than two dozen current and former NAR employees interviewed by the Times. “I am deeply troubled by those looking to tarnish my character and mischaracterize my well-intended actions,” Parcell wrote in a letter to NAR’s Executive Committee and Boa

Realtors 471

Realtors Realty Brokerage Design 471

Sacramento Appraisal Blog

AUGUST 29, 2023

Assumable loans are eye candy in today’s housing market. The idea of taking over somebody’s 2.5% loan sounds amazing, right? It’s technically possible on paper for some loan types, but it’s challenging to pull off in the real world. Yet, if mortgage rates remain high, this is something we’re likely going to hear more about, […] The post The eye-candy of assuming a loan first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

Real Estate 329

Real Estate Housing Market Appraisal Marketing 329

Real Estate News

AUGUST 28, 2023

Just two days after the New York Times published claims of harassment, retaliation and intimidation at the association, Kenny Parcell has stepped down.

301

301

Cleveland Appraisal Blog

AUGUST 13, 2023

Hello! I hope you’re having a great summer! Plumbing may be the last thing on your mind right now. If you’re like me, you put off plumbing work until the winter months when there is less to do outside. At least in Cleveland anyway. However, plumbing is a big part of our lives, on many levels. When it comes to plumbing, there are things we can do to save money and avoid future problems.

Appraisal 253

Appraisal Inspection Transportation Renovations 253

Speaker: Timothy Allsopp

Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.

Construction

Housing Wire

AUGUST 30, 2023

HousingWire Lead Analyst Logan Mohtashami appeared on CNBC‘s Squawk on the Street on Wednesday to talk about the health of the housing market , and more specifically about today’s pending home sales data. Mohtashami explained how demand for existing homes is still trending near 21st-century lows. As long as mortgage rates stay near 23-year highs, Mohtashami believes we will see softness in data.

New Listings 436

New Listings Inventory Housing Market Mortgage 436

Housing Wire

AUGUST 31, 2023

The pile of lawsuits facing Gary Keller and the real estate firm he co-founded, Keller Williams , just got larger. Former KW CEO John Davis filed his second lawsuit against the firm on Wednesday in the Western District of Texas. In the filings, which name Keller Williams , Keller, former KW president Josh Team, Business MAPS Ltd. and Business MAPS Management LLC as defendants, Davis alleges that the defendants inflated key profitability metrics including company sales and profits to convince ind

Contracts 427

Contracts Business Brokerage Training 427

Housing Wire

AUGUST 30, 2023

A couple of weeks ago, mortgage rates soared to a new 2023 high, reaching over 7% on a 30-year fixed-rate loan for the first time since November 2022. While higher rates are generally viewed with dismay, they often are the end result of a strong economy. Case in point, the private sector added 497,000 jobs in June — more than double many economists’ expectations — while compensation climbed 6.4% from a year ago.

Real Estate Agent 415

Real Estate Agent Mortgage Landlords Real Estate 415

Housing Wire

AUGUST 31, 2023

Mortgage rates ticked down modestly after job openings data for July came out yesterday, but rates remain elevated. Freddie Mac‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.18% as of Aug. 31, down from last week ’s 7.23%. By contrast, the 30-year fixed-rate mortgage was at 5.66% a year ago at this time.

Mortgage 402

Mortgage Housing Market Contracts Buyers 402

Housing Wire

AUGUST 29, 2023

Reviewing appraisal imagery, an essential step in the valuation review process, is time-consuming and laborious. CoreLogic developed Image Analytics to drive innovation in the appraisal review process and help lenders and mortgage industry professionals analyze property images quickly and accurately. This technology eliminates the need for manual, multi-touchpoint review, which saves time and reduces errors.

Valuation Review 392

Valuation Review Valuation Technology Investing 392

Advertiser: Trellis

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.

Real Estate

Housing Wire

AUGUST 30, 2023

Digital mortgage lender Better Home & Finance faces a $1.86 million suit for breaching advertising placement agreements with digital and print publisher Meredith Operations Corporation. Better failed to pay for two “insertion orders” – agreements where Meredith would place ads on its digital platforms in exchange for the mortgage lender’s fee – from the summer to the winter of 2022, according to a filing in the U.S.

Advertising 387

Advertising Finance Contracts Mortgage 387

Housing Wire

AUGUST 31, 2023

Adam Wiener, Redfin ’s president of real estate services, is leaving the brokerage after nearly 16 years of service, CEO Glenn Kelman announced in an email sent to employees on Tuesday. His last day at the company will be Friday, Sept. 8. During his tenure, Wiener first served as a product manager for agent tools. He then went on to run the partner program, analytics, marketing and a variety of new businesses.

Real Estate 386

Real Estate Brokerage Insurance Tools 386

Housing Wire

AUGUST 30, 2023

Mortgage applications for home purchases and refinances increased for the first time in five weeks but remain at low levels. For the week that ended Aug. 25, mortgage applications picked up 2.3% from the prior week , according to data from the Mortgage Bankers Association. “ Mortgage rates were mostly unchanged last week, with the 30-year fixed rate remaining at 7.31 percent – the highest since December 2000.

Mortgage 382

Mortgage Contracts Government Inventory 382

Housing Wire

AUGUST 30, 2023

Since last weekend’s New York Times exposé of alleged sexual harassment and a “culture of fear” at the National Association of Realtors (NAR), speculation about what happens next at the trade association has been in overdrive. HousingWire has heard from several sources that NAR, which serves more than 1.5 million real estate professionals , has planned an emergency leadership team meeting for Thursday, which may result in resignations.

Realtors 378

Realtors Real Estate Realty Design 378

Housing Wire

AUGUST 31, 2023

Encompass Lending Group , a subsidiary of real-estate services platform Fathom Holdings, has acquired Austin, Texas-based Elite Financing Group, the company announced Thursday. Terms of the deal were not disclosed. Elite Financing Group will operate under the umbrella of Cary, North Carolina-based Encompass, which has a presence in the Dallas-Fort Worth area.

Finance 372

Finance Lending Retail Mortgage 372

Housing Wire

AUGUST 30, 2023

Freddie Mac on Wednesday announced that company veteran Peter Lillestolen will serve as vice president, production and sales of Targeted Affordable Housing (TAH) at Freddie Mac Multifamily. Lillestolen, a 12-year veteran of the government-sponsored enterprise (GSE), has worked in multifamily in several different roles. He began his career there as an analyst in the Capital Markets division, later serving in various leadership roles on the production team.

Finance 370

Finance Retail Government Business 370

Housing Wire

AUGUST 25, 2023

Retail lender AmeriFirst Financial Inc. filed for Chapter 11 bankruptcy protection in Delaware, just two months after it got back into the forward mortgage origination business. The Mesa, Arizona-based company listed estimated assets and liabilities as much as $100 million each, according to a filing in the U.S. Bankruptcy Court for Delaware. RCP Credit Opportunities Fund is listed as the largest unsecured creditor in the AmeriFirst Chapter 11 case — with a claim of $17.9 million, court pleading

Mortgage 370

Mortgage Retail Business Lending 370

Housing Wire

AUGUST 9, 2023

UWM Holdings Corporation , the parent of United Wholesale Mortgage (UWM), was another mortgage lender that returned to profitability in the second quarter of 2023, just like its primary competitor Rocket Companies and the origination segments of Mr. Cooper and Pennymac. UWM’s performance was boosted by an increase in the fair value of mortgage servicing rights ( MSRs ) and higher origination volumes, despite lower margins from April to June, per documents filed with the Securities

Training 370

Training Mortgage Technology Investing 370

Housing Wire

AUGUST 11, 2023

The Mortgage Bankers Association (MBA) reported that the mortgage delinquency rate fell to its lowest level since it began tracking this metric 43 years ago, supporting claims the economy is on the cusp of a turnaround. “Buoyed by a resilient job market, homeowners are continuing to make their mortgage payments,” Marina Walsh, the MBA’s vice president of industry analysis, said in a statement.

Mortgage 370

Mortgage Marketing Finance 370

Housing Wire

AUGUST 3, 2023

Too many real estate agents are watching artificial intelligence (AI) from the sidelines, assuming technology will never replace them. They repeat the mantra “Home buyers and sellers will always need a real estate agent.” Yet, even the most brilliant leaders in AI have a difficult time envisioning how AI will transform the world in five years. So how can real estate agents be so cavalier about their job?

Real Estate Agent 370

Real Estate Agent Real Estate Agents Tools 370

Housing Wire

AUGUST 21, 2023

Mortgage rates only kept climbing in the last week. Buyers in this real estate market notice these affordability changes, and so we can see in the data fewer home purchase offers, slightly climbing unsold inventory, and slightly more price reductions for the homes that are on the market. This is the same pattern as we talked about last week. The first half of the year had surprisingly resilient sales, but that is slowing again.

Inventory 369

Inventory Contracts Buyers Sellers 369

Housing Wire

AUGUST 17, 2023

The Consumer Finance Protection Bureau (CFPB) issued orders against Freedom Mortgage Corporation and Realty Connect USA Long Island for illegal kickbacks on Thursday, the first enforcement action associated with the 1974 Real Estate Settlement Procedures Act in six years. According to the CFPB, Freedom provided real estate agents and brokers with incentives, including cash payments, paid subscription services, and catered parties in exchange for agent and broker referrals for mortgage loan offer

Realty 369

Realty Mortgage Brokerage Real Estate 369

Housing Wire

AUGUST 10, 2023

The 30-year fixed mortgage rate continued its upward trajectory for the third consecutive week, rising to 6.96%, according to Freddie Mac. Since the last FOMC meeting in July, all eyes have been fixed on Thursday’s Consumer Price Index release. Another rate hike in September would move the target federal funds rate to its highest level since March 2001.

Mortgage 369

Mortgage Real Estate Buyers Construction 369

Housing Wire

AUGUST 2, 2023

Mobility Market Intelligence (MMI), a data intelligence and market insight tool provider for the mortgage and real estate industries, has acquired Bonzo – a relationship management and mortgage marketing platform. Ohio-headquartered Bonzo will operate as an independent service provider that is led by the current leadership team, which includes co-founder and president Jason Perkins, co-founder and COO/CRO Miles Miller, and CEO Chad Jampedro.

Real Estate 370

Real Estate Brokerage Tools Clients 370

Housing Wire

AUGUST 29, 2023

The Leslie Clarke Team, the top small agent team in Connecticut according to RealTrends , is joining the Connecticut office of Compass , the company announced on Tuesday. The move comes as Compass expands its tech offerings for agents. “This transition provides me access to the industry’s premier technology platform, an energetic office culture, and an expansive referral network spanning the nation,” said Clarke, whose team was previously part of William Raveis.

Agents 367

Agents Technology Clients Marketing 367

Housing Wire

AUGUST 10, 2023

Wells Fargo rolled out a down payment grant program that will offer $10,000 to eligible buyers or homeowners who currently live in or are purchasing homes in underserved communities in eight metropolitan areas. The Homebuyer Access grant program is available to those who have a combined 120% or less of the area median income (AMI). The grant funds can only be used toward the down payment on a Wells Fargo fixed-rate conventional loan secured by a property that will be the purchaser’s primar

Buyers 369

Buyers Lending Mortgage Finance 369

Housing Wire

AUGUST 30, 2023

After stepping into his new position as CEO of Realtor.com in June, Damian Eales is already shaking up the industry with swift action and a bold expansion plan. Last week, at the Tom Ferry Sucess Summit in Dallas, Eales took the stage for a fireside chat with Ferry where he shared his vision for the company’s future and how it plans to supplant Zillow as the No. 1 real estate portal.

Real Estate 367

Real Estate Agents Buyers New Listings 367

Housing Wire

AUGUST 1, 2023

Dallas, Texas-based Mr. Cooper Group on Tuesday announced it has completed the acquisitions of Home Point Capital and Roosevelt Management Company. With the deals, Mr. Cooper has moved closer to its $1 trillion mortgage servicing rights (MSR) portfolio target. Mr. Cooper concluded on Monday a tender offer for Home Point’s outstanding shares after extending the deadline twice.

Investors 369

Investors Design Insurance Investing 369

Housing Wire

AUGUST 28, 2023

The Consumer Financial Protection Bureau (CFPB) reached a multi-billion dollar settlement with a collection of brands that offer credit repair services to American consumers, the agency announced on Monday. The settlement includes some of the largest credit repair brands in the country, including Lexington Law and CreditRepair.com , following a court ruling that found the companies had collected illegal advance fees for credit repair services through telemarketing.

Law 367

Law Real Estate Business Marketing 367

Housing Wire

AUGUST 31, 2023

Intercontinental Exchange (ICE) received the green light to move forward with its acquisition of Black Knight after the Federal Trade Commission (FTC) accepted a binding settlement. Under the agreement, both firms will divest Black Knight’s loan origination system (LOS) Empower business and product and pricing engine (PPE) unit Optimal Blue to a subsidiary of Constellation Software Inc, the FTC said in a release on Thursday.

Tools 367

Tools Valuation Technology Business 367

Housing Wire

AUGUST 15, 2023

With strong demand and limited options for existing homes, many homebuyers are turning to new construction. Mortgage applications for new construction home purchases increased 35.5% in July on a year-over-year basis, according to the Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data. On a monthly basis, applications ticked up by 0.2%.

Construction 368

Construction Mortgage Inventory Buyers 368

Housing Wire

AUGUST 20, 2023

Last week, mortgage rates hit a 21st-century high, the 10-year yield closed slightly higher than my peak forecast for 2023 , and housing inventory growth was still slow. Purchase application data didn’t budge much on the week-to-week data. Weekly active listings rose by only 4,401. Mortgage rates went from 7.19%% to 7.37%. Purchase apps were flat week to week.

Inventory 366

Inventory Mortgage New Listings Sellers 366

Housing Wire

AUGUST 29, 2023

Home prices showed resilience in June as low supply drove demand in spite of high mortgage rates. The S&P CoreLogic Case-Shiller home price index posted a 0.7% month-over-month increase after a seasonal adjustment in June — marking the fifth consecutive monthly increase. Meanwhile, the 10-City and 20-City composites both posted increases of 0.9%.

Inventory 365

Inventory Buyers Construction Marketing 365