Housing Wire

MARCH 28, 2024

Florida is reckoning with a severe homeowners insurance crisis. The recent surge in both the frequency and intensity of hurricanes that have battered the state has prompted numerous insurers and reinsurers to exit the market , leaving Florida homeowners grappling with skyrocketing premiums and limited coverage options. According to the Insurance Information Institute , this exodus has resulted in Florida homeowners paying an average of nearly $4,000 a year in insurance , which is nearly three ti

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Insurance Design Marketing Legal 487

Appraisal Buzz

MARCH 28, 2024

The national median payment applied for by purchase applicants increased to $2,184 in February, up 2.4% from $2,134 in January, according to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index (PAPI). The index measures homebuyer affordability by tracking how new monthly mortgage payments vary across time – relative to income – using data from MBA’s Weekly Applications Survey.

Housing Market 370

Housing Market Mortgage Appraisal Marketing 370

Housing Wire

MARCH 28, 2024

Pending home sales increased modestly in February despite rising mortgage rates , growing 1.6% month over month, according to the newest data released Thursday by the National Association of Realtors (NAR). NAR’s Pending Home Sales Index increased to 75.6 in February, up from 74.3 in January. On a year-over-year basis, pending sales were down 7%. For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity.

Inventory 443

Inventory Realtors Contracts Sellers 443

Real Estate News

MARCH 28, 2024

NAR this week sent letters asking government lending agencies to allow buyers to finance agent compensation. Thursday, it started getting answers.

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Lending Government Finance Agents 353

Housing Wire

MARCH 28, 2024

When it comes to reducing cybersecurity risks, your team plays a crucial role. To ensure the safety of your digital assets and sensitive information, it’s important to make sure all users are well-informed about cybersecurity and receive periodic training. To reduce risks , we’ll explore why empowering your team through education and training is essential to mitigate risks and keep your business secure.

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Training Real Estate Insurance Business 443

Real Estate News

MARCH 28, 2024

The company made the move after hearing from “numerous” privately owned companies involved in high-stakes lawsuits over commissions.

Real Estate 272

Real Estate Brokerage 272

Appraisal Buzz

MARCH 28, 2024

Pending home sales increased 1.6% in February compared with January but were down 7.0% compared with February 2023, according to the National Association of Realtors (NAR). Month-over-month, contract signings climbed in the Midwest and South but sank in the Northeast and West. Compared to one year ago, pending home sales declined in all U.S. regions.

Inventory 195

Inventory Housing Market Contracts Realtors 195

Housing Wire

MARCH 28, 2024

The National Association of Realtors (NAR) and the Mortgage Bankers Association (MBA) are asking federal housing officials to confirm their treatment of interested party contributions (IPCs) to home purchase transactions. In a letter addressed to Federal Housing Finance Agency (FHFA) director Sandra Thompson , Fannie Mae CEO Priscilla Almodovar, Freddie Mac CEO Michael DeVito, and Federal Housing Administration (FHA) commissioner Julia Gordon on Wednesday, the NAR and MBA wrote that it was impor

Real Estate Agent 431

Real Estate Agent Sellers Buyers Agents 431

Real Estate News

MARCH 28, 2024

The fractional ownership platform, co-founded by former Zillow CEO Spencer Rascoff, said its latest move “opens up thousands of new listings nationwide.

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New Listings 228

Housing Wire

MARCH 28, 2024

Mike Kortas and Mat Grella, the longtime owners and co-founders of America’s largest mortgage brokerage, NEXA Mortgage , are in negotiations to end their partnership. In the meantime, Kortas announced during a weekly Town Hall on Tuesday that company president Grella had been terminated, which means he will not be involved in the company’s daily operations or strategic decisions for the growth of the business.

Mortgage 427

Mortgage Brokerage Loan Officers Business 427

Real Estate News

MARCH 28, 2024

Judges heard from both defendants and plaintiffs on Thursday who spoke about the “burdensome” nature of consolidation and the local nature of the cases.

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Housing Wire

MARCH 28, 2024

Modern manufactured homes are an unusual feature of today’s housing market, the rare homeownership opportunity that is both lower-cost and high-quality. Thanks to the efficiencies baked into the construction processes of manufactured homes, these factory-built houses are both faster and less expensive to build than site-built homes, saving buyers between $50,000 to $100,000 per unit.

Business 426

Business Finance Buyers Lending 426

Inman

MARCH 28, 2024

The plaintiffs and defendants in the antitrust commission case indicated they would be available for a 3- to 4-week trial beginning Jan. 21, 2025, according to court filings earlier this week.

Realtors 192

Realtors Brokerage Agents 192

Housing Wire

MARCH 28, 2024

Better Home & Finance Holding Co. , the parent of digital lender Better.com , narrowed its net loss between the third and fourth quarters of 2023 by more than 80%, driven by expense cuts to its platform and marketing efforts. Going forward, Better is focused on driving market share and reaching profitability in the medium term. The digital lender made changes in its commercial operating model to achieve this goal and will continue to invest in Tinman, its proprietary technology platform.

Loan Officers 401

Loan Officers Technology Investing Realtors 401

Inman

MARCH 28, 2024

Even before the courts resolve how agents are compensated, the National Association of Realtors has an opportunity to set a course for victory, Inman founder Brad Inman writes.

Realtors 188

Realtors Agents Brokerage 188

Housing Wire

MARCH 28, 2024

Late last week, Indiana Sen. Mike Braun (R) submitted a letter to Ginnie Mae president Alanna McCargo asking about what he identified as recent bouts of instability in both the Home Equity Conversion Mortgage (HECM) and HECM-backed Securities (HMBS) programs, which stemmed from the collapse of a major lender and challenges that Ginnie Mae has described in maintaining a large portfolio of reverse mortgages.

Mortgage 388

Mortgage Development 388

Inman

MARCH 28, 2024

As Better reports $543 million 2023 loss, CEO Vishal Garg says the company has made fundamental changes to its business model that will help it pivot to providing purchase loans to homebuyers.

Real Estate Agent 186

Real Estate Agent Real Estate Agents Mortgage 186

Housing Wire

MARCH 28, 2024

Investigators at the U.S. Department of Labor announced on Wednesday that they found that PrimeLending , a Texas-based retail mortgage bank, violated whistleblower provisions in a case involving two employees who raised consumer fraud concerns. According to the DOL, the company terminated two California-based employees after they reported to a regional manager and the vice president of Human Resources that a branch manager pressured them to pass on fees to loan applicants caused by internal proc

Human Resources 383

Human Resources Legal Fees Loan Officers Retail 383

Inman

MARCH 28, 2024

In her first keynote as RE/MAX president, Amy Lessinger addressed market headwinds, buyer-broker commissions, homebuyer agreements and plans to revive the franchisor's U.S. operations.

Marketing 179

Marketing Buyers Realtors Brokerage 179

Housing Wire

MARCH 28, 2024

The past year and a half, with its rising mortgage rates , low inventory, and economic uncertainty, has been a challenge for real estate pros, not to mention the buyers and sellers they serve. Times like this often result in a sense of fear and hesitancy; after all, if you don’t know what’s next, how are you supposed to take decisive action? In life, we sometimes find ourselves plunging headfirst in t o the unknown.

Real Estate Agent 381

Real Estate Agent Real Estate Agents Clients 381

Real Estate News

MARCH 28, 2024

Mortgage apps dropped this week even as rates fell, but pending sales began to show signs of life.

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Buyers Mortgage 207

Housing Wire

MARCH 28, 2024

Plaintiffs and defendants in the Moehrl commission lawsuit have waited more than five years for their day in court. Based on the parties’ latest status report, it looks like they will be waiting a bit longer. In a status report filed on Monday, the plaintiffs and the sole remaining defendant in the suit, HomeServices of America , each indicated they would be available for a three- to four-week trial starting Jan. 21, 2025.

Real Estate Agent 367

Real Estate Agent Realtors Real Estate Sellers 367

Inman

MARCH 28, 2024

The Jon Campbell Team, previously the Don Wenner Team, closed 2,250 home sales across $585 million in sales volume in 2023. Technology and culture helped draw the team to Real.

Realty 172

Realty Brokerage Technology Agents 172

Housing Wire

MARCH 28, 2024

Kirkland, Washington-based Northwest MLS (NWMLS) is looking to have its voice heard in a lawsuit all the way on the other side of the country. On Wednesday, NWMLS filed a motion asking Boston-based U.S. District Court Judge Patti B. Saris, who is overseeing the Nosalek commission lawsuit , if it could file an amicus curiae brief in response to the Department of Justice’s statement of interest.

Sellers 363

Sellers Contracts Buyers Realtors 363

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 186

Brokerage Marketing 186

Housing Wire

MARCH 28, 2024

The U.S. Department of Housing and Urban Development (HUD) on Thursday announced $173.8 million in new grant and loan awards under the Green and Resilient Retrofit Program (GRRP), which brings the level of total funding awarded under it to $544 million, now comprising more than 50% of the full allocation. Speaking in Chicago on Thursday, Acting HUD Secretary Adrianne Todman announced the new funding alongside the city’s mayor, Brandon Johnson, at a community that was a awarded an $11.76 million

Renovations 358

Renovations Development 358

Inman

MARCH 28, 2024

Fueled by positive job growth and an increase in available housing, the National Association of Realtors' Pending Home Sales Index rose 1.6 percent in February, according to data released Thursday.

Inventory 168

Inventory Realtors Construction 168

Housing Wire

MARCH 28, 2024

Guaranteed Rate appointed Carlos Mata as its Atlanta branch manager, the company announced on Thursday. Mata was recognized as one of the top 250 Latino mortgage originators in 2024, according to the National Association of Hispanic Real Estate Professionals (NAHREP). “I have deep roots in Atlanta , strengthened by an active role with the NAHREP and my dream job, being a trusted provider of homebuyer advice, resources and solutions,” Mata said in a statement.

Real Estate 328

Real Estate Lending Investing Mortgage 328

Inman

MARCH 28, 2024

The new deal will allow Landing, a flexible living platform, to add 1,000 new units across its Autopilot program, which provides furnished, flexible living spaces for multifamily buildings.

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Housing Wire

MARCH 28, 2024

Are you intrigued by AI or tired of hearing about it? At the recent ICE experience conference, I talked to a lot of mortgage lenders and tech folks about what’s making a difference in their businesses. Many were excited about the current or potential use cases for artificial intelligence , while others were a bit more jaded. Will AI turn out to be just the latest buzzword , akin to blockchain and cloud computing in years past?

Architecture 275

Architecture Real Estate Tools Technology 275

Appraiserblogs

MARCH 28, 2024

Connolly and Mott v. Lanham, 20/20 Valuations, and loanDepot.com, U.S. District Court, Maryland. This is one of the appraisal discrimination cases that has received significant attention – among appraisers, the media and government agencies. A Black couple in Baltimore – Dr. Connolly and Dr. Mott, both university professors – filed suit in August 2022 alleging racial discrimination against loanDepot.com and the appraiser it engaged to appraise their home for a refinance.

Appraisal 114

Appraisal Valuation Law Government 114

Eyes on Housing

MARCH 28, 2024

The Census Bureau’s Quarterly Summary of State & Local Tax Revenue shows a 1.3% increase in property taxes paid, rising from $769.2 to $778.9 billion (SA, trailing four quarter sum) in the fourth quarter of 2023. Total annual state & local tax revenue was $2.039 trillion, also 1.3% higher than 2022. The 1.3% quarterly increase.

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Property Taxes 87

Buys Brokers Only LLC

MARCH 28, 2024

The recent settlement between the National Association of Realtors (NAR) and plaintiffs represented by class-action lawyers has garnered much attention in the media and elsewhere.

Buyers 71

Buyers Realtors 71

BiggerPockets

MARCH 28, 2024

If you’re looking to elevate your real estate investing knowledge, expand your contact list, and gain powerful insight into 2024 real estate trends, then you need to be at the places that can make it happen.

Real Estate 68

Real Estate Investing 68