Housing Wire

MARCH 12, 2024

loanDepot greatly reduced its costs in 2023 while revenues were in free fall amid a contracting market. Operationally, loanDepot entered 2024 by dealing with a cyberattack that brought its systems down and a forecast for market conditions to improve. million in 2023, compared to a $457.6 billion in 2023.

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Housing Wire

DECEMBER 20, 2022

The housing market will continue to slow down in 2023 , even though mortgage rates have declined recently. That’s the takeaway from a group of economists at Fannie Mae , who slashed their forecast for 2023 this week. . in 2023, a slight improvement from the previous forecast, which predicted a 0.6% in 2022 and drop 0.5%

Housing Market 344

Housing Market Marketing Contracts Mortgage 344

Inman

APRIL 22, 2024

Amid an industrywide recruitment war, Better Homes and Gardens Real Estate has secured its largest contract renewal of 2024 with Atlanta-based BHGRE Metro Brokers. The 45-year-old brokerage is the second-largest franchise in the BHGRE network, with more than 2,400 agents across 27 offices.

Contracts 138

Contracts Brokerage Real Estate Agents 138

Housing Wire

JANUARY 13, 2023

This article is part of our 2022 – 2023 Housing Market Update series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Housing Market Update. With continued supply chain disruption, cost increases and fear of inflation , the market has felt tenuous at best. Homebuilding Contract Values.

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Housing Wire

FEBRUARY 24, 2023

New home sales started off 2023 on a positive note, rising 7.2% January marked a surge of people signing contracts to buy new homes. The uptick in the sales pace resulted in just 439,000 new homes remaining on the market at the end of the month, representing 7.9 months of supply at the current sales pace, down from 8.7

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Housing Wire

JANUARY 12, 2024

As a group, the trio originated about $80 billion in mortgages in 2023, down from nearly $218 billion the prior year – a $138 billion decline (63%). Wells Fargo, for example, shrunk its mortgage business dramatically in 2023, per filings with the Securities and Exchange Commission (SEC). billion in 2023. billion from $4.2

Mortgage 379

Mortgage Lending Retail Business 379

Housing Wire

DECEMBER 16, 2022

After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. The last year has been a completely split housing market — one that started with the lowest inventory NAR has recorded dating back to 1999 and one with low mortgage rates. At the height of the spring market, the typical home had 5.5

Buyers 468

Buyers Realtors Inventory Sellers 468

Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. That offering, Unlock HEA Trust 2023-1, is slated to close this week.

Housing Market 388

Housing Market Marketing Contracts Finance 388

Housing Wire

FEBRUARY 21, 2023

Existing home sales started 2023 right where they left off at the end of 2022, dropping for the 12 th consecutive month. January sales reflect purchase contracts made in November or December, and there is evidence that in many markets, the housing market has bottomed out and buyers are beginning to return to the market.”

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Housing Wire

DECEMBER 20, 2022

Economists believe that if the trend continues, the market will be able to improve in the second half of 2023. . “The latest data on the housing market show that homebuilders are pulling back the pace of new construction in response to low levels of traffic, and we expect this weakness in demand will persist in 2023, as the U.S.

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Mortgage Housing Market Retail Contracts 404

Housing Wire

DECEMBER 23, 2022

This article is part of our 2022-23 Housing Market Forecast series. After the series wraps, join us on February 6 for the HW+ Virtual 2023 Forecast Event. The red-hot housing market of the past 2 ½ years was characterized by sub-three percent mortgage rates, fast-paced bidding wars and record-low inventory. at the end of 2022.

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Housing Market Marketing Inventory Buyers 369

Housing Wire

DECEMBER 13, 2022

As brokers and LOs close out a challenging year and set their sights on 2023, it could be tempting to take a pessimistic view. However, there are actionable steps and strategies they can take to ensure 2023 is as profitable as possible. There are lenders who are well-capitalized and prepared for this market.

Clients 377

Clients Technology Real Estate Agent Business 377

Housing Wire

MARCH 27, 2023

Housing markets in tech hubs were in high demand during the pandemic, with potential buyers facing fierce competition on homes in cities like San Jose and Austin. According to Redfin’s analysis, Austin, Texas has experienced the most rapidly cooling housing market in the nation over the last year.

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Housing Wire

DECEMBER 4, 2020

More importantly, he said the current environment may even holdup into 2023. “We However, Nothaft expects that mortgages originated today, with a contract rate of 3% or lower, are more likely to have a relatively long life and lenders will not see them coming into refinance anytime soon. “That’s a lot of mortgages.

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Housing Wire

JANUARY 26, 2024

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” NAR chief economist Lawrence Yun said in a statement. NAR’s Pending Home Sales Index (PHSI) increased to 77.3

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Contracts Housing Market Construction Inventory 448

Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. I think in 2023, we’re going to see rates higher for longer,” Toohig concludes.

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Housing Market Marketing Contracts Lending 361

Appraisal Buzz

JUNE 17, 2022

According to a new report from Fannie Mae’s Economic and Strategic Group (ESR), a combination of rising interest rates and elevated inflation will continue to weigh on the housing market and are now predicting a 1.2% full-year market growth. The post Slowing Housing Market Expected Soon appeared first on Appraisal Buzz.

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Housing Market Marketing Contracts Appraisal 283

Housing Wire

MARCH 28, 2023

2023 began as 2022 had ended, with U.S. Buyers in the market still find themselves competing over relatively few homes for sale, a fact which continues to prop up home prices,” Lisa Sturtevant, the chief economist at BrightMLS , said in a statement. The annual growth rate in December was 4.4%. The index came in at a reading of 292.71

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Buyers Inventory Contracts Finance 372

Housing Wire

JULY 3, 2023

PrimeLending , a Texas-based retail mortgage bank, aims to expand its market share by growing within its existing footprint in a margin-thinning environment. We’ll reach out to those loan officers in markets where we have existing retail branch locations. The goal is to expand its overall market share to 1% this year from 0.6%.

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Housing Wire

DECEMBER 27, 2022

Marty Green thinks of the housing market in 2022 as two very different movies. But the housing market in the second half of 2022? The number of home listings dried up , contracts were canceled , the few buyers still out there demanded concessions , mortgage rates spiked to 7% and homebuilder sentiment hit rock bottom.

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Housing Market Marketing Real Estate Agent Real Estate 503

Housing Wire

MAY 2, 2024

The housing market has been on a topsy-turvy roller-coaster ride in recent years that has been particularly neck wrenching since this past fall, fueled by stubbornly high inflation and a still-strong jobs market. Treasury market — jumping to as high as 121 in mid-April after ending March near 85.

Marketing 378

Marketing Mortgage Investors Sellers 378

Housing Wire

MAY 18, 2024

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. We have a much more normal marketplace in 2023 and 2024.

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New Listings Inventory Mortgage Contracts 423

Housing Wire

MARCH 13, 2024

The DOJ’s statement was in relation to the settlement agreement reached between the Nosalek plaintiffs and MLS PIN in July 2023. Since the initial filing, the plaintiffs and MLS PIN have filed two amended agreements in order to appease the DOJ, which first became involved in the suit in early October 2023.

Legal 403

Legal Contracts Sellers Buyers 403

Housing Wire

MARCH 18, 2024

million plus interest, granted as an interim award in November 2023, to $150.2 million in its financial results for the fourth quarter of 2023, paid the amount in full on Feb. million in damages related to a breach of contract claim, plus interest and attorneys fees. million in net income in 2023, down from $475.5

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Legal Contracts Technology Development 345

Inman

JANUARY 18, 2024

When it was first listed in early 2023, the unit asked $175 million. The duplex at Central Park Tower marks one of the rare deals in New York City that has commanded nine figures in recent years.

Contracts 150

Contracts Development Marketing 150

Housing Wire

JANUARY 13, 2023

The nation’s single-family investment-property sector and the lenders serving those borrowers face some major challenges in 2023 as rent growth is slipping, vacancy rates growing, home-value growth faltering, and a possible recession looms. . They include a $405.2 Approximately 36.8% Another of the planned offerings is a $485.9

Marketing 407

Marketing Investing Investors Landlords 407

Housing Wire

APRIL 17, 2023

Local housing markets is a HousingWire magazine feature spotlighting housing trends across the country. Austin, Texas In 2021, Austin had one of the hottest housing markets in the country. For agents and sellers looking to succeed in Austin’s current market, Redding says pricing is key. “We

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Housing Market Marketing Inventory Buyers 360

Housing Wire

OCTOBER 25, 2022

The MBA forecasts a recession in the first half of 2023, with the unemployment rate at 5.5% trillion in 2023, compared to $2.26 However, other industry forecasters believe that the MBA’s projections, which anticipate a 9% production decline in 2023, are actually rather “rosy.” million in 2023. .

Mortgage 313

Mortgage Contracts Insurance Business 313

Housing Wire

OCTOBER 26, 2023

in September despite significant affordability hurdles weighing on the market, according to data released Thursday by the National Association of Realtors (NAR). Despite the slight gain, pending contracts remain at historically low levels due to the highest mortgage rates in 20 years,” Lawrence Yun, NAR chief economist said in a statement.

Inventory 370

Inventory Contracts Housing Market Realtors 370

Housing Wire

FEBRUARY 15, 2024

For iBuyer Opendoor , 2023 was all about moderation. “We We are excited about how we are set up for 2024 and beyond,” CEO Carrie Wheeler told investors and analysts listening to the firm’s Q4 2023 earnings call on Thursday evening. This strategy paid off for the firm, as its net loss of $275 million for 2023 is markedly smaller.

Business 334

Business Advertising Inventory Contracts 334

Housing Wire

APRIL 24, 2024

million it incurred in fourth-quarter 2023. PennyMac Financial reported strong operating earnings in the first quarter, with an annualized operating return on equity of 15 percent in what is expected to be the one of the smallest quarterly origination markets of this cycle,” chairman and CEO David Spector said in a news release.

Lending 384

Lending Legal Contracts Mortgage 384

Housing Wire

FEBRUARY 1, 2023

Borrower demand for home loans increased in the first three weeks of 2023, sparking optimism among mortgage industry executives and loan officers. ” The seasons ahead Industry experts believe that the purchase market will recover in the spring, despite the volatility. The MBA data shows refinancings were 31.9%

Mortgage 325

Mortgage Marketing Loan Officers Contracts 325

Housing Wire

MARCH 26, 2024

Allegations include breach of contract and unjust enrichment, with damages sought at $250 million. But in August 2023 , during KW’s Mega Agent Camp event in Austin, the company’s International Associate Leadership Council (IALC) voted to revise the profit-sharing distribution policy.

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Brokerage Legal Agents Realty 492

Housing Wire

MARCH 26, 2023

The financial and housing markets are still trying to sort out the banking crisis and whether we have seen the last Fed rate hike in this cycle. On these crazy days in the financial markets, I stress to people, it’s not how the trading day goes that matters; it’s the final closing number.

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Inventory Housing Market Marketing Mortgage 439

Housing Wire

JULY 19, 2023

Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. The lender hired more than 160 employees from the now-shuttered Finance of America (FoA) in January 2023.

Mortgage 353

Mortgage Marketing Retail Construction 353

Sacramento Appraisal Blog

JANUARY 16, 2023

Could a seller credit damage the chance of appraising at the purchase contract? These questions weren’t asked a year ago, but welcome to the 2023 housing market. UPCOMING (PUBLIC) SPEAKING GIGS: 1/18/23 WCR Market Update in Cameron Park (register here) 1/19/23 Big market update at SAR on […].

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Appraisal Contracts Real Estate Housing Market 341

Housing Wire

MARCH 1, 2023

Issuance of agency mortgage-backed securities (MBS) is projected to contract significantly over the next two years in the face of a housing-market contraction, but the actual supply of MBS available for purchase in the private market is expected to swell to record levels over that period. trillion and to nearly $9.3

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Marketing Investing Mortgage Investors 363