Fri.Dec 20, 2024

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FHA borrowers would get mortgage insurance relief through proposed House bill

Housing Wire

A new bill introduced in the U.S. House of Representatives proposes to relieve Federal Housing Administration (FHA) borrowers of mortgage insurance premiums (MIPs) once they reach a certain level of home equity , aligning FHA policies with those of conventional loans. Introduced by Reps. Gregory W. Meeks (D-N.Y.) and Pete Sessions (R-Texas) on Thursday, the bipartisan bill allows borrowers to stop paying mortgage insurance once their loan-to-value (LTV) ratio reaches 78%, rather than paying it f

Insurance 363
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Coal for Christmas

Appraisal Buzz

The post Coal for Christmas appeared first on Appraisal Buzz.

Appraisal 356
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The leadership deficiency in the mortgage industry: How we got here and how we can fix it  

Housing Wire

The state of leadership in the mortgage industry When people say, Theres no such thing as a perfect company, are they really acknowledging an inherentflaw or are they feeling the void left by inadequate leadership? This is especially evident in the mortgage industry, where leadership is a term often thrown around but rarely understood in its full capacity.

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Report Reveals How Community Land Trusts Preserve Affordable Homeownership

Appraisal Buzz

Drawing on insights from 115 community land trusts (CLTs), Preserving Affordable Homeownership: Municipal Partnerships with Community Land Trusts , a new 2024 Policy Focus Report released by The Lincoln Institute of Land Policy , explores how CLTs are partnering with public officials to help address the housing affordability crisis. In this model, individuals buy homes on land leased from a local CLT and agree to limit the resale price.

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NAR settlement appeals continue as law professor Tanya Monestier weighs in

Housing Wire

After filing several different motions, including a motion to intervene, University of Buffalo law professor Tanya Monestier has filed an appeal of several rulings made by Judge Stephen R. Bough including his final approval of the National Association of Realtors (NAR) commission lawsuit settlement agreement. In a notice filed on Thursday, Monestier informed the Eighth Circuit Court of Appeals that she was appealing Boughs ruling on her motion for reconsideration, her motion to intervene and

Law 317
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MBA: Homebuyer Affordability Decreased in November Due to Higher Mortgage Rates

Appraisal Buzz

Homebuyer affordability decreased in November compared with October, according to the Mortgage Bankers Associations (MBA) Purchase Applications Payment Index (PAPI), which measures how new monthly mortgage payments vary across time, relative to income. In November, the national median payment applied for by purchase applicants increased to $2,133, up from $2,127 in October, according to the report.

Mortgage 195

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Examining Trends in U.S. Senior Housing

Appraisal Buzz

More than 10.5 million homes with mortgages in the United States are owned by individuals aged 65 and older, according to a recent LendingTree study. Drawing on U.S. Census Bureau data, the analysis reveals regional trends, lower housing costs for older homeowners, and the significant implications of carrying mortgage debt into retirement. Key Findings Older Americans represent a sizable share of homeowners with mortgages in many regions.

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What real estate leaders need to know about the 2025 housing market

Housing Wire

Despite 2025 housing market predictions changing fast , there are still key themes and trends for real estate leaders to watch to best serve their clients and business. Jessica Lautz, deputy chief economist and vice president of research at the National Association of Realtors and upcoming speaker at the Housing Economic Summit, sat down with HousingWires Senior Director of Events Brena Nath to answer a few questions on what she thinks is to come for real estate in 2025.

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Buyers With Children More Likely to Receive Family Down Payment Assistance 

Appraisal Buzz

According to a recent Redfin poll, 25% of recent homebuyers with children living at home received a cash gift from family to help with their down payment, which is more than twice as many as the 12% of recent purchasers without children. The study results come from an Ipsos survey that was commissioned by Redfin and administered to 1,802 Americans between the ages of 18 and 65 in September 2024.

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Investor purchases are sinking with the housing market at large

Housing Wire

Home sales in 2024 have been well below historic norms. Higher prices, higher mortgage rates and limited inventory are making for a slow market among buyers and sellers alike. Real estate investors tend to be more insulated from these dynamics, particularly from mortgage rates, as they are more likely to buy properties with cash. But even investors have purchased fewer homes this year.

Investors 249
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Housing market looking less attractive to investors

Real Estate News

But there is still competition for homes, especially at lower price points, where first-time buyers cross paths with buyers on the investment side.

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Ginnie Mae exec who helped launch MBS issuer scorecard announces retirement

Housing Wire

Leslie Meaux Pordzik, who serves as senior vice president for the Office of Issuer and Portfolio Management at Ginnie Mae , will retire from the government-owned corporation on Dec. 27, marking the conclusion of a 36-year career in the mortgage finance industry. Pordzik has spent the past 13 years at Ginnie Mae, having overseen more than 400 mortgage-backed securities (MBS) issuers while aiming to modernize compliance and monitoring profiles.

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Agents expect more sales, (much) lower rates in 2025

Real Estate News

Two recent surveys of agent sentiment conveyed a general sense of optimism heading into the new year, though mortgage rate expectations may not match reality.

Agents 165
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Anywhere settles lawsuit tied to Telephone Consumer Protection Act complaint

Housing Wire

After more than five years of back and forth, Anywhere and the plaintiffs in the Bumpus Telephone Consumer Protection Act (TCPA) suit have finally reached a proposed settlement. According to a notice filed last week and entered into the court docket on Thursday, the parties have reached a class-wide settlement in principle and are working to finalize a fully integrated settlement agreement.

Brokerage 282
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24 gifts real estate agents actually really want for Christmas this year

Inman

Forget gadgets and swag. According to team leader Carl Medford, what Realtors really want right now are well-behaved children at open houses, punctual contractors and, well, an end to 2024.

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Keller Williams expands in Milwaukee with addition of Houseworks Collective

Housing Wire

Austin -headquartered Keller Williams has expanded its presence in Wisconsin. The brokerage announced this week that it has added the Milwaukee -based Houseworks Collective real estate team. The deal brings 15 agents and more than $60 million in annual sales volume to Keller Williams. Houseworks will join Keller Williams MKE , a market center located in Whitefish Bay, Wisconsin.

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News Knockout: Commission lawsuits settlement tops 2024

Inman

Despite an array of significant stories throughout 2024, none could surpass the industry-shaking news of NAR agreeing to settlement terms in the wake of antitrust commission lawsuits that would forever reshape how agents and brokers do business.

Agents 145
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NAR sends cease-and-desist letter to Phoenix Realtors

Housing Wire

Real estate professionals and even some local Realtor associations have begun pushing back against the National Association of Realtors (NAR) three-way membership. Phoenix Realtors (PAR) is one such association exploring alternative membership structures, but NAR is not having it. In an email, sent to NARs board of directors, association leaders and other members, NARs General Counsel Lesley Muchow informed recipients that NAR had sent a cease-and-desist letter to Phoenix Realtors due to its new

Realtors 282
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Check out this can’t-miss new year’s expired listing opportunity

Inman

The right data and a winning marketing plan can set you up for 2025 success when you pursue expired listings, Jimmy Burgess writes.

Marketing 139
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Would you trust a robot to help grandma age in place? You might need to

Housing Wire

The U.S. is about to face a reckoning when it comes to its 65-and-older population outnumbering children for the first time. But other nations including Japan are facing an even steeper ratio of older people to younger counterparts. Since there is already a shortfall in home-care workers , encouraging people to enter the home care workforce or finding an alternate solution will be important.

Design 240
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These 5 marketing events will help move the needle on your listing

Inman

Make each property listing memorable when you create events that are designed to get your listing seen and sold, Coldwell Banker Warburg's Kevelyn Guzman writes.

Design 135
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LoanPASS CRO on the cultivation of a reverse mortgage lender partnership

Housing Wire

At the beginning of 2024, mortgage technology company LoanPASS was announced as a technology partner for reverse mortgage lender Smartfi Home Loans. The lender chose LoanPASS to provide its software-as-a-service (SaaS) product and pricing engine in its reverse lending operations. This partnership has become a fruitful one, according to Bill Mitchell, chief revenue officer at LoanPASS.

Mortgage 231
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Fifth Wall Ventures targets $500M for new real estate tech fund

Inman

Fifth Wall Ventures, a venture-capital firm, plans to raise an impressive $500 million for a new fund, the Fifth Wall REACT Fund, according to a new regulatory filing on Wednesday.

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Homebuilders are using more buyer incentives since the election

Housing Wire

The combination of the 2024 presidential election , anticipated future rate cuts, mortgage rate volatility and housing affordability challenges have led more potential homebuyers to stay on the sidelines. But a new report from Zonda says that after the election, consumers have started to regain their confidence in home shopping. The New Home Market Update from Zonda, a construction data provider, was released Friday.

Buyers 231
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Mike DelPrete looks at the industry through the lens of probability

Inman

Tune in to Inman Access, and learn how to tap into the power of probability with industry analyst Mike DelPrete.

Business 118
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Rocket Companies’ Bill Emerson on HUD lawsuit: ‘We want the correct party responsible, not us’

Housing Wire

In a recent episode of the HousingWire Daily podcast, Editor in Chief Sarah Wheeler sits down with Bill Emerson, president of Rocket Companies , to discuss its recent lawsuit against the U.S. Department of Housing and Urban Development (HUD) and the principle of appraisal independence for lenders. This conversation has been edited for length and clarity.

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Clear Cooperation, commission countdown, charges: Inman Top 5

Inman

Looking for a quick catch-up on the buzziest stories of the week? Here’s Inman Top 5, the most essential stories, according to Inman readers.

Brokerage 115
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2024 Third Quarter State-Level GDP Data

Eyes on Housing

Real gross domestic product (GDP) increased in 45 states and the District of Columbia in the third quarter of 2024 compared to the second quarter of 2024 according to the U.S. Bureau of Economic Analysis (BEA). Iowa reported no change during this time. The percent change in real GDP ranged from a 6.9 percent increase.

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Redfin commission model drawing more, better agents: Jason Aleem

Inman

Aleem, Redfin's chief of real estate services, also said the agents who have joined since the company adopted a commission model are making more money.

Agents 131
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Cyndi Deshaies Qualifies for the 2024 Lamacchia Realty President’s Club ELITE

Lamacchia Realty

Cyndi Deshaies Qualifies for the 2024 Lamacchia Realty President's Club ELITE We are thrilled to announce that Cyndi Deshaies has officially qualified for the 2024 Lamacchia Realty President’s Club ELITE by selling more than 50 homes this year! She earned the impressive ELITE status just 3 short months after qualifying for the 2024 Lamacchia Realty President’s Club in September.

Realty 67
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Making the move from top producer to CEO

Inman

If you're looking to take on leadership opportunities and move up to a higher level professionally, Radius' Jamie Crain writes, here are the mindset and prractice shifts you need.

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goeasy to repurchase 1.3 million shares in 2025

Mortgagebroker News

Toronto Stock Exchange greenlights 10% public float as lender focuses on growth

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Sherry Chris steps down from advisory role at Anywhere

Inman

A year and a half after transitioning from her chief executive position to an advisory role, Chris announced that she's "on to a new adventure.

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Happy Holidays from Canadian Mortgage Professional

Mortgagebroker News

Here's what you can expect over late December and early January