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ACES: Mortgage Defect Rate Continued to Fall in Q3

Appraisal Buzz

Defects in the Credit and Income/Employment categories decreased significantly, while defects in the Liabilities category increased. Despite its improvement over the last quarter, Income/Employment continues to lead all defect categories, followed by Loan Documentation and Borrower and Mortgage Eligibility.

Mortgage 195
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Labor Department announces new rule to shield retirement savings

Housing Wire

Department of Labor (DOL) on Tuesday announced a new rule that governs retirement advice, requiring more financial advisers to follow stricter fiduciary standards when dispensing advice about retirement-focused investments. The financial adviser community is a highly-sought referral source for reverse mortgage professionals.

Investing 380
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Q2 2023 real estate team financial performance beats Q1 numbers

Housing Wire

Small teams had highest increase in net margin Teams in every size category saw an increase in Gross Margin (GM), with teams having annualized revenue between $300,000 and $550,000 seeing the largest increase in GM from 72.5% of GCI to 49.3% of GCI to 29.0% of GCI, or a decline of 23.1% from Q1 to Q2. of GCI to 29.0% from Q1 to Q2.

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How LOs can use short-form video content to connect with Gen Z

Housing Wire

Clear message When it comes to social media engagement and followers, it’s important that your audience knows what to expect out of your page. These categories can change over time, but it helps to start by thinking of them every time you post. Sometimes viewers will unfollow an account because of too many different content themes.

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US single-family rent growth eased in October

Housing Wire

For these categories, rent-growth changes in October 2023 over October 2022 were: Lower-priced: Rent growth was down 3.3% Louis posted the second-highest annual gain at 5%, followed by Boston and New York, both at 4.7%. The data firm also analyzed two property types: attached versus detached homes. versus 11%. Meanwhile, St.

Tenants 437
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Critical defects increase as refi market fades

Housing Wire

The defect category that needs some attention from mortgage lenders is income/employment, which made up 32% of all defects, the highest share since ACES began tracking defects by category. The second category in critical defects was loan documentation (12.5% The second category in critical defects was loan documentation (12.5%

Marketing 378
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Low-end single-family rentals are getting more expensive

Housing Wire

Chicago registered the second-highest annual gain at 6.3%, followed by Boston and San Diego (both 5.7%). For the lower-priced category, growth was up 4.66% compared to 3.7%, 2.9% and 2.3%, respectively, for the three other categories. Louis posted the highest year-over-year increase in single-family rents in July 2023, at 7.3%.