Housing Wire

MAY 21, 2024

The United States Department of Veterans Affairs will soon release a circular that “bridges the gap” on an agency law that prohibits a VA buyer from paying their real estate agent compensation, a VA official announced on Tuesday. Michelle Corridon, deputy policy director at the VA, announced at the Mortgage Bankers Association ‘s Secondary & Capital Markets Conference in New York that the circular would be issued between now and June 12.

Buyers 523

Buyers Agents Real Estate Agent Real Estate 523

Appraisal Buzz

MAY 22, 2024

Mortgage application volume increased 1.9% during the week ended May 17, as the average rate for a 30-year- fixed-rate mortgage fell to to 7.01%, down from 7.08% the previous week, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Applications for refinances increased 7% compared with the previous week and were up 21% compared with the same week one year ago.

Mortgage 431

Mortgage Government Inventory Buyers 431

Sacramento Appraisal Blog

MAY 23, 2024

It wasn’t on my housing market bingo card to be paying such close attention to insurance, but this is a huge deal for California (and some other states). I promise this won’t become an insurance crisis blog, but today I have some brand new stats to share for Sacramento and the Bay Area. UPCOMING SPEAKING […] The post An insurance crisis wasn’t on my bingo card first appeared on Sacramento Appraisal Blog.

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Insurance Housing Market Appraisal Marketing 368

Real Estate News

MAY 19, 2024

A “consumer-centric” approach to buy-side commissions is better for all agents, industry leaders say. Here’s why, and what you need to know about the DOJ.

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Agents 297

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 With construction projects becoming more complex, outdated processes are no longer sustainable.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

MAY 20, 2024

Fraud and forgery claims represented more than one-fifth of the total dollars spent by title insurers on claims expenses and losses over the past decade, according to a study conducted by Milliman and commissioned by the American Land Title Association (ALTA). Between 2013 and 2022, title insurers recorded 203,181 claims for policies written during that time, and they paid out $4.4 billion in claims related to losses and loss expenses.

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Insurance Inspection Government Mortgage 468

Inman

MAY 20, 2024

AI is reshaping the landscape of property transactions, revolutionizing traditional processes and boosting overall efficiency.

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Real Estate 210

Real Estate News

MAY 23, 2024

Buyers may be able to take advantage of lower rates and increasing inventory, but many are still priced out, dampening sales.

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Inventory Buyers Mortgage 282

Housing Wire

MAY 22, 2024

I anticipated solid year-over-year home-price growth in today’s existing home sales report, so I’ve tried my best on social media to inform people that we have a low bar in home-price comps for this report and the next one. This is the context for why the home-price growth data was strong, which took some people by surprise. As you can see below, even though home prices rose in 2023, the median sales price showed negative year-over-year growth in April, May and June of last year.

Inventory 464

Inventory New Listings Housing Market Contracts 464

Appraisal Buzz

MAY 21, 2024

A combination of increased listings and weakening affordability continued to dampen home price appreciation in April – a trend that will likely to continue, according to First American. “After years of historically low levels of homes for sale, the pace of existing-home listings has modestly increased, bringing much-needed supply to the housing market,” says Mark Fleming, chief economist for First American, in a statement.

Inventory 370

Inventory Housing Market Marketing Appraisal 370

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

Inman

MAY 22, 2024

Deputy Director of Policy Michelle Corridon said Tuesday the agency would lift rules preventing vets from using low-cost VA loans to pay agents until it engages in a formal rule-making process.

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Agents Clients Buyers Tools 195

Real Estate News

MAY 20, 2024

With many owners of existing homes hesitant to give up their low mortgage rates, new homes continue to account for an outsize share of the market.

Construction 280

Construction Mortgage Marketing 280

Housing Wire

MAY 21, 2024

In a supply-constrained housing market , even landing a deal at foreclosure auction has become challenging, but those deals tend to be more readily available in markets or neighborhoods that are off the beaten path. “It’s oddly enough in states where people are leaving,” said Florida-based real estate investor Paul Lizell of the markets where he is more focused on acquiring investment properties in 2024.

Marketing 456

Marketing Investors Real Estate Investing 456

Appraisal Buzz

MAY 20, 2024

As an appraiser, you’re already familiar with buzzwords like seller’s and buyer’s markets. A seller’s market indicates demand is high and inventory is low, while a buyer’s market means inventory is high and demand is low. Interest rates impact the housing market significantly — demand can rise or fall any time they go up or down. When the market enters a phase more favorable to sellers, appraisers may find themselves caught in a crossfire between what buyers think is fair and what the homeowner

Appraisal 370

Appraisal Marketing Valuation Sellers 370

George Dell

MAY 22, 2024

ROV (Reconsideration of Value) is now in the boat. Is it safe? We suspect this will be a long row to get to the chosen island. Just row! It is likely this topic will be the focus of more of our “analog blog” series. To read part one of this series or other blog post […] The post Row Row ROV? Pt 2 appeared first on George Dell, SRA, MAI, ASA, CRE.

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Reconsideration of Value Appraisal 195

Real Estate News

MAY 22, 2024

Comments made by a Department of Veterans Affairs official Tuesday “ensures veterans have the same opportunity as others to compete in a tight housing market.

Agents 268

Agents Housing Market Marketing 268

Housing Wire

MAY 18, 2024

New listings data has been moving lower over the last few weeks. I usually wouldn’t care too much about this as its a data line that can be volatile week to week but now it’s been three weeks. The moves haven’t been significant and our weekly pending contracts data picked up this week. But, we need to see more growth in new listings data just to grow from 2023 levels. 2023 new listings data was the lowest ever on record, so it’s already a low bar.

New Listings 456

New Listings Inventory Mortgage Contracts 456

Appraisal Buzz

MAY 22, 2024

Today, host Hal Humphreys meets with Jeff Allen, President of CubiCasa. Jeff has been an integral part of the valuation industry for a while, and he gets us up to speed on what his experience has involved. There have been a lot of new changes coming to the valuation space. What are some recent changes happening in valuation technology Where is the future of valuation going, and just how long will it take us to get there?

Valuation 368

Valuation Technology Appraisal Modernization 368

Inman

MAY 24, 2024

The luxury market is back. That was Compass co-founder and CEO Robert Reffkin's primary message during his latest appearance on CNBC's "Squawk on the Street," where he talked about home price trends, mortgage rates, and stock market ebbs and flows.

Marketing 194

Marketing Mortgage Brokerage 194

Real Estate News

MAY 21, 2024

An appeals court ruled that the government could reopen its investigation. NAR says that decision involved “far-reaching and exceptionally important” errors.

Government 262

Government 262

Housing Wire

MAY 23, 2024

The Federal Housing Administration (FHA) on Thursday published Mortgagee Letter (ML) 2024-10 , outlining reporting requirements that lenders must follow if they detect a cybersecurity intrusion. Effective immediately and applicable to all FHA-insured mortgage programs, the letter states that all lenders “that experience a potential or actual cyber incident must notify HUD via the FHA Resource Center at answers@hud.gov and HUD’s Security Operations Center at cirt@hud.gov within 12 hours of detect

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Law Design Insurance Tools 451

Appraisal Buzz

MAY 23, 2024

Mortgage rates fell this week, with the average rate for a 30-year, fixed-rate mortgage dropping to 6.94%, down from 7.02% last week, according to Freddie Mac’s Primary Mortgage Market Survey. “Spring homebuyers received an unexpected windfall this week, as mortgage rates fell below the seven percent threshold for the first time in over a month,” says Sam Khater, chief economist for Freddie Mac, in a statement.

Mortgage 195

Mortgage Inventory Housing Market Appraisal 195

Inman

MAY 22, 2024

Several months after Kofi Nartey announced his team's move to Real, the brokerage has launched a new luxury division with Nartey serving as executive director.

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Brokerage 193

Real Estate News

MAY 24, 2024

David Mele, the longtime leader of CoStar’s home search site, confirmed to Real Estate News that he has left his position as president of Homes.com.

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Real Estate 255

Housing Wire

MAY 21, 2024

At a status hearing on Tuesday for the Nosalek commission lawsuit, a lawyer for the Department of Justice said the terms of the National Association of Realtors’ nationwide commission lawsuit settlement agreement represented “an improvement.” However, it remains unknown if the DOJ will file a statement of interest in the Sitzer/Burnett suit, as it did in the Nosalek suit, according to RisMedia , which first reported the news.

Agents 442

Agents Realtors Government Legal 442

Appraisal Buzz

MAY 23, 2024

Truity Credit Union , a member-owned credit union with locations in Oklahoma, Kansas and Texas, is using Dark Matter’s Empower loan origination system to provide loan officers and members a modern, mobile-friendly experience across home purchase, refi, home-equity and construction loan originations. According to Joe Beffer, Truity’s senior vice president and director of lending, the credit union chose Dark Matter for its mobile-friendly borrower portal and for features that will help its interna

Loan Officers 195

Loan Officers Modernization Construction Lending 195

Inman

MAY 23, 2024

Newly built homes available on the market rose to 480,000, representing a supply of 9.1 months at the current sales rate, up from an 8.5 month supply in March, according to U.S. Census Bureau data.

Inventory 192

Inventory Marketing Agents 192

Real Estate News

MAY 24, 2024

CEO John Berkowitz says the home search company offers agents and consumers “a better chance of succeeding” than its deep-pocketed competitors.

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Agents 249

Housing Wire

MAY 22, 2024

Fast-growing firm The Real Brokerage is launching a luxury division , according to an announcement on Wednesday. Real Luxury , as the division will be known, will focus on helping luxury agents and teams, as well as their exclusive clients. The firm said that the launch of Real Luxury is in response to the growing number of luxury real estate agents and teams joining Real.

Clients 439

Clients Agents Real Estate Agent Real Estate 439

Appraisal Buzz

MAY 23, 2024

Down Payment Resource , offering homebuyer assistance program data and solutions, recently announced an integration with ICE Mortgage Technology that embeds down payment assistance program support into Encompass. The integration helps lenders make affordable home financing opportunities more accessible while growing business and forging referral partnerships, Down Payment Resource says in a release.

Mortgage 195

Mortgage Loan Officers Lending Finance 195

Inman

MAY 24, 2024

The red brick Georgian mansion, known by children all over the world as Kevin McCallister's home, is back on the market after 12 years and comes with a large Kevin Lego figure for the home theater.

Marketing 191

Marketing 191

Real Estate News

MAY 20, 2024

Minnesota’s largest multiple listing service embraces its “broker-centric, tech-forward focus” as it works through rules changes and pursues collaboration.

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Housing Wire

MAY 21, 2024

After two years of limited demand, private equity and insurance companies are increasing their allocations to single family residential mortgages. This increased flow of funds appears to be driven by strengthening macro factors that favor residential mortgages over other yield assets such as commercial real estate (CRE) and commercial (C&I) loans.

Insurance 439

Insurance Mortgage Investors Finance 439