Housing Wire

MARCH 5, 2024

“ Recovery year ” was the theme heading into 2024 as mortgage professionals hoped for some reprieve in a frozen housing market characterized by high interest rates, low inventory levels and sluggish sales. A little more than two months into the year, however, mortgage rates are the highest they’ve been as the U.S.

Loan Officers 391

Loan Officers Mortgage Buyers Inventory 391

Housing Wire

MAY 2, 2024

In early November, 30-year fixed mortgage rates began a nosedive, declining from near 8% to below 7% in a matter of months before once again starting to rise at the start of 2024. at the end of April, according to HousingWire ’s Mortgage Rates Center. They crested near 7.6%

Marketing 378

Marketing Mortgage Investors Sellers 378

Housing Wire

NOVEMBER 29, 2023

Forming partnerships with mortgage brokers can be mutually beneficial. More tools to help agents get more real estate buyer leads in 2024 Use this tool: Coffee & Contracts Coffee & Contracts is like a social media toolkit for real estate agents.

Real Estate 377

Real Estate Buyers Tools Real Estate Agent 377

Housing Wire

JANUARY 26, 2024

The past three years in the mortgage industry were cutthroat, with origination volume shrinking, and while things are looking better for 2024 , lenders are still in a position where they must make bold moves to stem losses on the production side of the business, according to a report from Stratmor Group , a mortgage advisory firm.

Mortgage 421

Mortgage Contracts Business 421

Housing Wire

OCTOBER 26, 2023

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. in 2024, hitting 800,000 new homes. in 2024, to $445,800. In 2024, they should rise by 13.5% In 2024, it will rise to 1.48

Inventory 370

Inventory Contracts Housing Market Realtors 370

Housing Wire

FEBRUARY 29, 2024

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. Meanwhile, new home sales , which are also a measure of contract signings, reached a seasonally adjusted annual rate of 661,000 in January, up 1.5% NAR’s Pending Home Sales Index (PHSI) decreased to 74.3 in January, down from 77.3 in December.

Contracts 387

Contracts Inventory New Listings Realtors 387

Housing Wire

NOVEMBER 1, 2023

The coming winter is expected to be an existential test of survival for many independent mortgage banks (IMBs), according to leaders of several mortgage advisory firms. “We’re really at the darkest part of the market this winter,” Brian Hale, CEO and founder of consultancy Mortgage Advisory Partners , said. .

Mortgage 432

Mortgage Loan Officers Finance Buyers 432

Housing Wire

NOVEMBER 1, 2023

The newly-updated Fannie Mae November Selling Guide now bars job offers or contracts for future employment from family members or interested parties involved in a transaction. “We It also clarifies what portion of shared appreciation proceeds must be applied against the first mortgage loan,” the update states. 1, 2024.

Contracts 416

Contracts Training Sellers Mortgage 416

Housing Wire

MAY 13, 2024

A coalition of trade organizations — including the American Bankers Association (ABA), the Housing Policy Council (HPC), the Independent Community Bankers of America (ICBA), the Mortgage Bankers Association (MBA) and U.S. historical dataset. historical dataset.

Legal 357

Legal Mortgage Contracts Insurance 357

Housing Wire

MAY 17, 2024

has raised its closing guarantee from $5,000 to $20,000 until July 27, 2024, the bank announced on Thursday. The guarantee means that the bank promises an on-time closing on or before the contract closing date, or it will pay the homebuyer $20,000.

Lending 339

Lending Real Estate Agent Contracts Government 339

Housing Wire

MARCH 28, 2024

Pending home sales increased modestly in February despite rising mortgage rates , growing 1.6% For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. annually in February 2024. in January.

Inventory 431

Inventory Realtors Contracts Sellers 431

Housing Wire

JUNE 5, 2023

Direct retail lender Revolution Mortgage has scooped up two of loanDepot ‘s top LOs, accelerating its plans to expand market share despite a tough origination environment. billion in 2023 and expects a target production of $4 billion in 2024. Johnson estimates origination volume will be between $2 billion and $2.5

Loan Officers 373

Loan Officers Mortgage Lending Retail 373

Housing Wire

MARCH 15, 2024

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule. Assisting homebuyers and their agents adds more to an LO’s plate.

Buyers 498

Buyers Agents Mortgage Real Estate Agent 498

Appraisal Today

JANUARY 26, 2024

New USPAP Q&As January 16, 2024, the Appraisal Standards Board released new Questions and Answers covering important topics in the profession today including: Demographics Does demographic information relating to race (such as Census data) constitute “information relating to” a protected characteristic? baths, 16,225 sq.ft.,

Contracts 85

Contracts Appraisal Mortgage Inspection 85

Housing Wire

APRIL 20, 2022

With rates at the highest level in a decade, mortgage applications for the week ending April 15 fell 5%, according to the latest survey by the Mortgage Bankers Association. Purchase mortgage applications were down 14% from the same week a year ago. As a result, other types of mortgage products are seeing renewed interest.

Mortgage 403

Mortgage Contracts Buyers 403

Housing Wire

FEBRUARY 27, 2023

“Buyers responded to better affordability from falling mortgage rates in December and January,” Lawrence Yun, NAR’s chief economist, said in a statement. An index of 100 is equal to the level of contract activity in 2001. in 2024 Despite these conditions, Yun still expects annual existing home sales to drop 11.1% million units.

Housing Market 405

Housing Market Realtors Contracts Buyers 405

Housing Wire

APRIL 27, 2023

An index of 100 is equal to the level of contract activity in 2001. In addition, NAR forecasts that mortgage rates will drop to 6.0% in 2024, and housing starts will fall 7.3% annual in 2024 to 1.54 annual increase in 2024, bringing existing home sales back up to 5.26 to $390,000 in 2024. year over year.

Inventory 401

Inventory Realtors Contracts Construction 401

Lamacchia Realty

FEBRUARY 27, 2024

JANUARY 2024 massachusetts housing report MASSACHUSETTS Home Sales Down, Average Prices Up Home sales are down 5.2% year over year, with January 2024 at 3,751 compared to 3,956 last January. 2024: 4,702 2023: 4,330 2022: 4,636 Pending Home Sales: The number of homes placed under contract is down by 0.4%

Sellers 62

Sellers Real Estate Buyers Inventory 62

Housing Wire

DECEMBER 6, 2023

Pennymac Financial Services is the latest mortgage company to issue debt in a challenging housing market. Analysts see mortgage companies issuing debt as a sign that market conditions may improve in 2024. million to Black Knight in damages related to a breach of contract claim.

Contracts 358

Contracts Investing Mortgage Investors 358

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. billion in mortgages, compared to $6 billion in the previous quarter and $6.3

Legal 347

Legal Contracts Marketing Mortgage 347

Lamacchia Realty

FEBRUARY 27, 2024

JANUARY 2024 connecticut housing report CONNECTICUT Home Sales Down, Average Price Up Home sales are down 5.4% year over year, with January 2024 at 2,082 compared to 2,200 last January. Single families: 1,686 (2023) | 1,600 (2024) Condominiums: 514 (2023) | 482 (2024) Average sale price has increased by 11.8%

Sellers 58

Sellers Real Estate Buyers Inventory 58

Housing Wire

MAY 1, 2024

On Wednesday evening, during the firm’s Q1 2024 earnings call with investor and analysts, CEO Rich Barton took a contrary view: Zillow is just beginning to unlock its revenue generating potential. “In In a hostile housing market and a noisy industry environment, why is Zillow outperforming?”

Agents 349

Agents Real Estate Contracts Real Estate Agent 349

Housing Wire

JULY 27, 2023

An index of 100 is equal to the level of contract activity in 2001. The trade association forecasts the 30-year fixed mortgage rate to close at 6.4% in 2024, according to NAR’s forecast. million in 2024. in 2024, to 820,000. million, or 5.4%, in 2024. this year and then decline to 6.0% and West (57.7)

Construction 352

Construction Inventory Realtors Housing Market 352

Lamacchia Realty

FEBRUARY 27, 2024

JANUARY 2024 MAINE housing report MAINE Home Sales Down, Average Price Up Home sales are down 3.6% year over year, with January 2024 at 904 compared to 938 last January. Single families: 768 (2023) | 745 (2024) Condominiums: 101 (2023) | 87 (2024) Multi-families: 69 (2023) | 72 (2024) Average sale price increased 21.7%

Sellers 56

Sellers Real Estate Buyers Inventory 56

Housing Wire

NOVEMBER 15, 2023

mortgage lender, has decided to close its wholesale channel, which produced over $1 billion in volume in the first half of this year. Citizens was among the few large depository banks operating in retail, wholesale and correspondent in the mortgage space. In 2018, it acquired Franklin American Mortgage. billion, down 42.6%

Retail 413

Retail Mortgage Brokerage Contracts 413

Housing Wire

DECEMBER 7, 2023

Students chose the school for its offering of live instruction classes for salespersons, brokers, appraisers, mortgage, and home inspection courses at various locations and convenient times, including weekend classes. out of 5 stars Rating: 5 out of 5. out of 5 stars Rating: 5 out of 5.

Real Estate 343

Real Estate Real Estate Agent Law Brokerage 343

Lamacchia Realty

FEBRUARY 23, 2024

JANUARY 2024 new hampshire housing report NEW HAMPSHIRE Home Sales Up, Average Price Up Home sales are up 10.8% year over year, with January 2024 at 967 compared to 873 last January. 2024: 1,140 2023: 967 2022: 1,095 Pending Home Sales: The number of homes placed under contract is up by 6.1% when compared to January 2023.

Sellers 54

Sellers Real Estate Buyers Inventory 54

Lamacchia Realty

FEBRUARY 27, 2024

JANUARY 2024 rhode island housing report RHODE ISLAND Home Sales Down, Average Price Up Home sales are down 7.3% year over year, with January 2024 at 636 compared to 686 last January. when compared to January 2023 2024: 989 2023: 953 2022: 1,098 Pending Home Sales: The number of homes placed under contract is up by 9.1%

Sellers 52

Sellers Real Estate Buyers Inventory 52

Housing Wire

DECEMBER 20, 2022

The housing market will continue to slow down in 2023 , even though mortgage rates have declined recently. Total mortgage origination activity is expected to be at $2.35 However, the landscape seems better for 2024. According to Fannie Mae’s economists group, the real GDP will recover in 2024, expanding at a 2.2%

Housing Market 344

Housing Market Marketing Contracts Mortgage 344

Housing Wire

APRIL 24, 2024

million in the first quarter of 2024, the California -based multichannel lender and servicer announced Wednesday. Its owned mortgage servicing rights (MSR) portfolio had a UPB of $386.6 million in damages tied to a breach of contract claim in a four-year dispute involving the companies. That was less than the $38.1

Lending 384

Lending Legal Contracts Mortgage 384

Lamacchia Realty

FEBRUARY 27, 2024

JANUARY 2024 SOUTH FLORIDA housing report SOUTH FLORIDA Home Sales Down, Average Price Up Home sales are down 0.5% year over year, with January 2024 at 4,420 compared to 4,442 last January. Single families: 2,064 (2023) | 2,162 (2024) Condos & Townhomes: 2,378 (2023) | 2,258 (2024) Average sale price increased 11.2%

Inventory 52

Inventory Sellers Real Estate Buyers 52

Housing Wire

JANUARY 11, 2024

District Court for the Northern District of Texas , Ginnie Mae has filed its response to a lawsuit brought against it by Texas Capital Bank (TCB) saying the warehouse lender lacks standing and discounts the authority the government has to extinguish a lender from its reverse mortgage-backed securities program.

Lending 382

Lending Government Legal Law 382

Appraisal Today

OCTOBER 6, 2023

2024 USPAP Source: Appraisal Foundation The 2024 Uniform Standards of Professional Appraisal Practice is now available for purchase in physical and digital formats. To read the full letter, click here My comments: USPAP 2024 is effective January 1, 2024. Also, there is no ending date for the 2024 version.

Appraisal 78

Appraisal Contracts Real Estate Mortgage 78

Housing Wire

NOVEMBER 7, 2023

loanDepot also announced a $120 million annualized cost reduction target, including $100 million in non-volume related expenses – for example, vendor contract termination and renegotiation, optimized marketing spending and corporate real estate cost reductions. The company expects to achieve most of the savings by the end of Q1 2024.

Legal 404

Legal Contracts Real Estate Mortgage 404

Housing Wire

OCTOBER 25, 2022

Recession is coming, according to the Mortgage Bankers Association. . The economic dislocation will bring mortgage originations down to $2.05 “The slowdown in housing activity and higher mortgage rates will quickly cut the rate of home-price growth. “Mortgage insurers are forecasting between $1.3

Mortgage 313

Mortgage Contracts Insurance Business 313

Housing Wire

OCTOBER 16, 2023

“I believe that we are at the point where we can hold rates where they are,” Harker said at the 2023 Mortgage Bankers Association Annual Convention & Expo in Philadelphia on Monday. He told conference attendees that inflation is pegged to drop below 3% in 2024 and level at the 2% target thereafter.

Contracts 356

Contracts Marketing Mortgage Finance 356

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. billion, according to a review of bond-rating and industry reports.

Housing Market 388

Housing Market Marketing Contracts Finance 388