Housing Wire

OCTOBER 6, 2023

In a surprising twist, the National Association of Realtors has announced a change in how interprets its Participation Rule, which requires listing brokers to provide buyer brokers an offer of compensation in order to list on the multiple listing service (MLS). On Wednesday a U.S.

Brokerage 497

Brokerage Agents Buyers Clients 497

Housing Wire

FEBRUARY 23, 2024

For many real estate agents, a logical step on their path of professional development is becoming a real estate broker, then working as either a managing broker or a broker-owner. For brokers who are franchise owners in a big-box brokerage model , upstream costs can make it difficult to maintain profitability.

Real Estate 401

Real Estate Brokerage Development Agents 401

Housing Wire

OCTOBER 4, 2023

District Court in Boston granted the Department of Justice’s request to extend all settlement related deadlines in the Nosalek buyer broker compensation class action lawsuit on Tuesday. Unlike the two other buyer-broker commission lawsuits, Moehrl and Sitzer/Burnett , NAR is not a defendant in the Nosalek lawsuit.

Buyers 417

Buyers Realtors Sellers Legal 417

Housing Wire

JANUARY 3, 2023

lender United Wholesale Mortgage (UWM) notched a partial win in a lawsuit against broker shop America’s MoneyLine (AML) regarding the controversial “ultimatum” it imposed two years ago. Any broker who did so would face fines upwards of $5,000 per loan or $50,000, whichever violation sum was greater.

Legal 481

Legal Law Brokerage Mortgage 481

Housing Wire

OCTOBER 27, 2023

Class action attorneys allege real estate commission rates are too high and buyer brokers are being paid too much due to NAR rules. In reality, consumers are better off and business competition thrives very much because of NAR’s rules and how well local Multiple Listing Service (MLS) broker marketplaces function.

Real Estate Agent 462

Real Estate Agent Real Estate Realtors Buyers 462

Housing Wire

MARCH 23, 2023

With current market conditions having a negative impact on traditional agency loans, expanding into non-QM products can allow brokers to grow their business and reach a wider borrower pool. But what’s the best way for brokers to market themselves to reach that wider, non-QM audience? Why a solution provider? No box required.

Marketing 336

Marketing Lending Advertising Technology 336

Housing Wire

OCTOBER 2, 2023

MLS Property Information Network’s (MLS PIN) settlement agreement in the Nosalek class action antitrust buyer-broker compensation lawsuit has hit yet another snag. Pursuant to its mission, the Antitrust Division is concerned about policies, practices, and rules in the residential real-estate industry that may increase broker commissions.”

Buyers 406

Buyers Realtors Real Estate Sellers 406

Housing Wire

JANUARY 9, 2024

Rocket Pro TPO , the wholesale arm of Rocket Mortgage , hopes to woo brokers with a slew of product enhancements and services. Rocket Pro TPO ‘s executive vice president Mike Fawaz shared major changes and commitments for the broker community at its IGNITE Live event on Monday afternoon.

Loan Officers 340

Loan Officers Real Estate Agent Tools Business 340

Housing Wire

NOVEMBER 1, 2023

The real estate industry as agents and brokers know it has been turned upside down. It remains to be seen exactly what the guilty verdict in the Sitzer/Burnett commission lawsuit means for agents and brokers, as the industry waits for Judge Stephen Bough’s injunction. It would swell to $5.36 I do believe they will.

Open Houses 475

Open Houses Brokerage Agents Realtors 475

Housing Wire

NOVEMBER 28, 2023

Broker/owners have been on quite a ride over the last few years. With the residential real estate pendulum swinging from blissful exuberance in the second half of 2020 to extreme consternation for many today, brokers have had to pivot like never before. The good brokers also aren’t Pollyannas. Retain and develop.

Real Estate 407

Real Estate Brokerage Advertising Housing Market 407

Housing Wire

JULY 21, 2023

The nation’s second largest multiple listing service , Bright MLS , will begin allowing listing agents to put in a blanket offer of compensation for buyer brokers of zero dollars or more, starting on August 9. So long as cooperating brokers are aware of the offerings made by listing brokers, that purpose is achieved.

Buyers 370

Buyers Clients Sellers Realtors 370

Housing Wire

JUNE 26, 2023

HousingWire recently spoke to Ryan Carry, SVP of Wholesale at Change Wholesale , about the wholesale channel and how brokers can gain an advantage in the current fluctuating market. HW: What can brokers do to gain an advantage in this marketplace? HW: What kind of support do brokers need right now?

Mortgage 395

Mortgage Clients Technology Business 395

Housing Wire

SEPTEMBER 18, 2023

According to court documents filed on Monday, RE/MAX and the home sellers suing the firm in both the Moehrl and Sitzer/Burnett cases, which both deal with buyer brokers’ commissions, have reached a preliminary settlement agreement, settling all claims in both suits. In fact, the U.S.

Buyers 487

Buyers Realtors Agents Real Estate 487

Housing Wire

MARCH 27, 2024

Department of Veteran Affairs (VA) to revise its policies that ban veterans from paying broker commissions, an issue that is gaining attention following the NAR’s landmark $418 million settlement. With the settlement, NAR agreed to abolish its “Participation Rule” that required listing agents to make an offer of compensation to buyer brokers.

Buyers 446

Buyers Real Estate Agent Inventory Real Estate 446

Housing Wire

OCTOBER 16, 2023

Regardless of the outcome, real estate brokers are doing all they can to prepare their brokerages and their agents for more transparency, education on the value real estate agents bring to the transaction, and more, according to the 2023 Q4 BrokerPulse survey , a forward-looking housing market sentiment survey by HousingWire.

Real Estate 414

Real Estate Brokerage Training Agents 414

Housing Wire

JANUARY 16, 2024

When the Association of Independent Mortgage Experts (AIME)’s CEO Katie Sweeney established Broker Action Coalition (BAC) – AIME’s grassroots network that initiates communications between mortgage brokers and their legislators – in 2022, it was initially to gauge the industry’s appetite for advocacy and reform.

Finance 413

Finance Mortgage Lending Retail 413

Housing Wire

MAY 15, 2023

HousingWire recently spoke with Aaron Drago, chief operating officer of Deephaven Mortgage, about the wholesale broker experience and how it can be improved. HousingWire: What are the current challenges wholesale brokers face? Aaron Drago: In today’s market, wholesale brokers face several challenges.

Technology 382

Technology Training Investing Mortgage 382

Housing Wire

NOVEMBER 14, 2023

While the lawsuit does name large corporate brokerage firms as defendants, including Keller Williams , Side , HomeServices of America , and Fathom Realty , the robust defendant list also includes real estate teams, such as The Loken Group and Hexagon Group , as well as an individual broker, Mark Anthony Dimas. 13, 2019, to the present.

Real Estate 407

Real Estate Realtors Realty Buyers 407

Housing Wire

MAY 4, 2023

Pontiac, Michigan-based United Wholesale Mortgage (UWM) announced on Wednesday that its brokers can request a dedicated loan coordinator, adding a level of loan processing support when needed. In addition, UWM announced brokers can also connect their loan origination platform to the lender’s system.

Loan Officers 383

Loan Officers Clients Mortgage Business 383

Housing Wire

DECEMBER 5, 2023

California-based Pennymac Financial Services ’s broker division, Pennymac TPO , launched a home equity loan product as tappable home equity nears its 2022 peak. Pennymac’s home equity loan for brokers comes as U.S. The product is eligible only for primary residences with fixed-rate term structures of 10, 15, 20 or 30 years.

Mortgage 416

Mortgage Clients Technology Finance 416

Housing Wire

OCTOBER 6, 2023

Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. “It’s hard for brokers to win deals now. 4-7, in Las Vegas.

Mortgage 469

Mortgage Real Estate Agent Renovations Finance 469

Inman

APRIL 25, 2024

Find out how award-winning Houston broker-owner Nancy Almodovar differentiates her service and elevates her agents at Nan and Company Properties.

Agents 169

Agents Brokerage 169

Housing Wire

AUGUST 6, 2021

Broker Studies. Broker Study 1. Broker Study 2. Broker Study 3. The post Broker Study appeared first on HousingWire. Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.

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Housing Wire

SEPTEMBER 20, 2023

Defendants in the Sitzer/Burnett class action lawsuit, which deals with buyer brokers’ commissions, are facing two fewer claims. The past few weeks have been eventful for the Sitzer/Burnett lawsuit, as well as the larger Moehrl lawsuit in Illinois, which also deals with buyer-broker commissions. Bough, a U.S.

Buyers 427

Buyers Law Realtors Agents 427

Housing Wire

OCTOBER 16, 2023

If MLS broker marketplaces didn’t work the way they do not, there would be no centralized hub and source of available homes.” However, many brokers aren’t waiting for that to happen before preparing agents, implementing buyer-broker agreements, and training agents on transparency in how commissions are paid and negotiable.

Buyers 454

Buyers Brokerage Agents Realtors 454

Housing Wire

JUNE 6, 2023

Top originator United Wholesale Mortgage settled a lawsuit with broker shop Mid Valley Funding , in which the broker shop was accused of violating UWM’s controversial ultimatum by sending loans to rivals Rocket Mortgage and Fairway Independent Mortgage. Ishbia hasn’t backed down.

Brokerage 370

Brokerage Contracts Legal Business 370

Housing Wire

AUGUST 10, 2023

A little over a month after filing an agreement in one of the ongoing buyer broker commission lawsuits, New England’s largest multiple listing service (MLS), MLS Property Information Network (MLS PIN)’s attempt to settle the Nosalek case, has hit a snag. However, unlike Moehrl and Burnett , NAR is not named as a defendant.

Buyers 365

Buyers Realtors Legal Finance 365

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. The LOs and brokers who are truly passionate, who are great at what they do, will use this time to double down, hone their craft and become even better advisors to their clients.

Clients 395

Clients Technology Real Estate Agent Business 395

Housing Wire

MAY 18, 2023

The Association of Independent Mortgage Experts (AIME) called on the NMLS policy committee to make it a requirement for every state to adopt a broker-specific license option amid the committee seeking feedback on a proposal to adopt a standardized approach for the mortgage industry licensing. State-licensed mortgage companies originated $2.9

Brokerage 381

Brokerage Mortgage Business Lending 381

Housing Wire

MARCH 10, 2023

Impac is transitioning its retail consumer direct lending division into a mortgage broker fulfillment model to offer various products at a reduced cost per loan. Non-qualified mortgages will continue to be the dominant product in the broker channel, the company said.

Mortgage 370

Mortgage Retail Design Brokerage 370

Housing Wire

JUNE 8, 2022

Pontiac, Michigan-based lender United Wholesale Mortgage (UWM) Wednesday launched a new platform for independent mortgage brokers to access purchase leads, past clients and real estate agents — a move to entice and retain loan officers in a shrinking mortgage market.

Mortgage 369

Mortgage Real Estate Agent Real Estate Clients 369

Inman

MARCH 28, 2024

Find out how this Oklahoma City broker's mindset helps him raise the bar on the service he provides and his own level of professional performance.

Brokerage 183

Brokerage Marketing 183

Housing Wire

OCTOBER 6, 2022

On Thursday, the publicly traded multichannel lender launched a new technology platform for brokers called “POWER+,” a key step toward generating more broker business. The custom fee screen enables brokers to accept, add and edit fees directly onto a screen that resembles a loan estimate.

Tools 370

Tools Technology Business Design 370

Housing Wire

OCTOBER 27, 2022

Independent mortgage brokers are beginning to have the products and tech tools needed to compete with banks and large retail lenders, and customers are reaping the benefits of this growing channel. Smith : The glaring trend is the broker channel has been growing rapidly, and the retail sector is shrinking. DS : Mindset is everything.

Clients 395

Clients Retail Advertising Tools 395

Inman

FEBRUARY 15, 2024

Learn how this Boston broker puts his sales experience to work as he guides, supports and develops the next generation of great real estate professionals.

Real Estate 179

Real Estate Development Brokerage 179

Housing Wire

JANUARY 8, 2021

Months after taking over management of broker LOS platform ARIVE , mortgage software startup LendWize has finalized a deal to take complete ownership of the origination platform. ARIVE, which was affiliated with broker trade organization AIME, is available to brokers for a small fee.

Modernization 395

Modernization Technology Tools Mortgage 395

Housing Wire

SEPTEMBER 7, 2022

The increased loan limits for mortgage brokers apply to new registrations and locks effective Sept. Rocket’s gambit comes during one of the company’s most challenging periods in memory, and could enable the Detroit lender to win much-needed purchase business through brokers during a critical period of an ugly year.

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Home Value Mortgage Government Lending 462