Housing Wire

APRIL 24, 2024

Two former New Jersey -based mortgage loan originators have been charged with conspiracy to commit bank fraud by the U.S. Attorney’s Office, District of New Jersey according to an announcement by the U.S. Department of Justice (DOJ) and U.S. Attorney Philip Sellinger. Christopher Gallo has been noted as a top-producing loan originator, at one point being Scotsman Guide ‘s fourth-ranked LO in the country.

Mortgage 535

Mortgage Retail Finance Investing 535

Real Estate News

APRIL 18, 2024

Two U.S. senators are pushing for policy changes that would reduce “exclusionary” zoning regulations and promote local development.

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Development 359

Inman

APRIL 26, 2024

HomeServices was potentially on the hook for the remaining $4.7 billion in damages from an Oct. 31 jury verdict in Sitzer | Burnett, which awarded plaintiffs $5.3 billion.

Brokerage 183

Brokerage Agents 183

Eyes on Housing

APRIL 10, 2024

Consumer prices continued to rise in March, with shelter and gasoline prices driving over half of the total increase. This marks the third consecutive strong reading. Despite a slowdown in the year-over-year increase, shelter costs continue to put upward pressure on inflation, accounting for over 60% of the total increase in all items excluding food.

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BiggerPockets

APRIL 22, 2024

For real estate investors, the question of cash flow versus appreciation is as old as time. However, in an era of high interest rates, buying properties for cash flow isn’t easy.

Investing 83

Investing Real Estate Investors 83

Mashvisor

APRIL 22, 2024

Much like the rise of hybrid work, the travel and housing industry has seen a rise in the need for mid-term rentals.

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Investors 74

Real Estate News

APRIL 11, 2024

More than a quarter of consumers surveyed by Redfin don’t know how much their agent was paid, while nearly 20% weren’t sure who provided the compensation.

Agents 327

Agents Buyers 327

Inman

APRIL 22, 2024

As the real estate industry continues to evolve, embracing the transformative potential of AI and blockchain technology to gain a competitive edge.

Real Estate Agent 210

Real Estate Agent Real Estate Agents Technology 210

Eyes on Housing

APRIL 11, 2024

Inputs to residential construction, goods less food and energy, increased for the fifth straight month, according to the most recent Producer Price Index (PPI) report published by the U.S. Bureau of Labor Statistics. The index for inputs to residential construction, goods less food and energy, represents building materials used in residential construction.

Construction 176

Construction 176

BiggerPockets

APRIL 19, 2024

New York State legislative leaders have agreed on a preliminary housing deal aimed at tackling affordability and supply problems, which are especially severe in New York City.

Tenants 79

Tenants Landlords 79

Mortgagebroker News

APRIL 23, 2024

Unexpected job losses and increasing loan delinquencies signal potential troubles ahead

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Housing Wire

APRIL 20, 2024

Housing inventory finally hit my target level of growth last week with mortgage rates now over 7.25% , something I couldn’t get all last year. Of course, what is different this year versus last year is that new listing data is growing yearly instead of trending at the lowest levels recorded in history. This is something I talked about last week on Yahoo Finance.

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Inventory New Listings Mortgage Finance 499

Real Estate News

APRIL 5, 2024

Ruling could lead to further changes in industry practices by allowing the Department of Justice to revisit an antitrust case originally settled in 2020.

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Inman

APRIL 23, 2024

Judge Stephen R. Bough ruled that the sweeping changes NAR agreed to were "fair, reasonable and adequate" and set a final approval hearing for November.

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Realtors Brokerage Agents 199

Housing Wire

APRIL 26, 2024

In February 2024, the national delinquency rate for residential mortgages stood at 2.8%, marking an 0.2 percentage-point decrease from February 2023. The rate remained unchanged from January 2024, according to the latest CoreLogic Loan Performance Insights report. The data provider examined all stages of delinquencies to gain a complete view of the mortgage market and loan performance health.

Mortgage 452

Mortgage Marketing 452

Housing Wire

APRIL 23, 2024

The National Association of Realtors (NAR) can breathe a small sigh of relief. The trade group’s nationwide settlement of the commission lawsuits has passed its first hurdle as Judge Stephen R. Bough, who oversaw the Sitzer/Burnett lawsuit , granted preliminary approval to NAR’s settlement on Tuesday. While the agreement still must receive final approval from the court, the industry is now one step closer to operating under the new rules outlined in the settlement agreement.

Realtors 469

Realtors Agents Buyers Legal 469

Housing Wire

APRIL 16, 2024

Today, Federal Reserve Chairman Jerome Powell made statements at the Washington Forum that indicate there will be no rate cuts anytime soon because the economy and the labor market are too strong with sticky inflation. This is a change from previous statements where the Fed talked about the rate cuts it expected to make this year — although that timeframe has changed several times.

Retail 492

Retail Marketing Housing Market Mortgage 492

Housing Wire

APRIL 21, 2024

California Association of Realtors CEO John Sebree has departed the trade organization. In an announcement on Saturday, CAR said that Sebree was resigning to “pursue other opportunities. “On behalf of CAR’s leadership team and the Board of Directors, I’d like to thank John for his contributions and service as CEO and State Secretary for our organization.

Realtors 469

Realtors Real Estate Business Agents 469

Housing Wire

APRIL 18, 2024

Existing home sales fell in today’s report , which isn’t surprising, but one headline that shocked some people was that home prices are still up year over year, even with higher inventory and higher mortgage rates. From NAR : The median existing home price for all housing types in March was $393,500, an increase of 4.8% from the previous year ($375,300).

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Inventory Housing Market New Listings Buyers 481

Housing Wire

APRIL 9, 2024

Baby boomers are exhibiting an overwhelming desire to age in place in their own homes, but their children — largely members of Generation X — are also making their desires felt by seeking out homes that can accommodate their needs as they get older, according to a recent report from the New York Times. Citing 2021 data from the Harvard University Joint Center for Housing Studies that showed 88% of adults 65 and older are aging in place, many members of the following generation — primarily born b

Buyers 497

Buyers Construction Realtors Development 497

Housing Wire

APRIL 26, 2024

HomeServices of America , the last remaining brokerage defendant in the landmark Sitzer/Burnett antitrust commission case , has agreed to pay $250 million in damages to settle lawsuits that will change agent compensation across America. The New York Times first reported the story. The deal comes just days after the federal judge overseeing the commission case in Missouri approved a preliminary settlement that will see the National Association of Realtors and multiple other residential brokerages

Brokerage 414

Brokerage Agents Real Estate Buyers 414

Housing Wire

APRIL 19, 2024

Luxury home prices in the U.S. surged by 8.7% year over year in the first quarter of 2024, with the median price hitting a record $1.225 million, according to data from Redfin. In comparison, prices for non-luxury homes rose by 4.6% to a median of $345,000, which is also a record high. Redfin defined luxury homes as those estimated to be in the top 5% of their metro area based on market value, while non-luxury homes are those with estimated values in the 35th to 65th percentile.

Luxury Properties 454

Luxury Properties New Listings Buyers Housing Market 454

Housing Wire

APRIL 24, 2024

The rental segment has been marked by strong demand and looks to continue on this trajectory given mortgage rates that continue to hover around 7% and record property prices across many U.S. regions. In spite of some slowdown, rents have continued to appreciate, being nearly 30% higher than prior to the pandemic, with February levels up 3.5% as compared to the previous year.

Investing 423

Investing Tenants Landlords Marketing 423

Housing Wire

APRIL 4, 2024

Federal Reserve vice chair for supervision Michael Barr said the central bank is taking “a very thoughtful approach” to the Basel III rules (aka the Basel endgame), which would significantly increase bank capital requirements and, if implemented, affect the mortgage industry. “We gave the public extra time to comment on the rule because it was really complex.

Real Estate 484

Real Estate Training Mortgage Marketing 484

Housing Wire

APRIL 23, 2024

Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. Is your license renewal on the horizon? Every 12 years, a cosmic thing happens, and agents in all 50 states come due for their real estate continuing education (CE) and licensing renewal. 2024 is that year!

Real Estate 420

Real Estate Agents Best Value Design 420

Housing Wire

APRIL 18, 2024

Wire fraud prevention firm CertifID and big four title firm Old Republic have entered into a strategic agreement to prevent mortgage payoff fraud , according to an announcement on Thursday. Mortgage payoff fraud occurs when a title company mistakenly sends payoff funds to a fraudulent bank account after receiving wire instructions that appear to be from the mortgage servicer.

Insurance 450

Insurance Real Estate Mortgage Agents 450

Housing Wire

APRIL 24, 2024

Realty ONE Group International has joined six other real estate brokerages in settling the commission lawsuits. The firm announced on Wednesday that it has entered into a nationwide settlement agreement with the commission lawsuit plaintiffs. The settlement, which is still subject to court approval, will settle all claims against Realty ONE Group, its franchises and affiliated agents.

Realty 419

Realty Real Estate Brokerage Realtors 419

Housing Wire

APRIL 24, 2024

Mortgage lenders should get used to the concept of ”higher for longer” interest rates and work to bring profitability to their businesses, according to Stan Middleman, founder, president and CEO at Freedom Mortgage. ”Your interest rates are going to be higher for longer ,” he said. ”This year will look a lot like last year. Next year is going to look a lot like this year.

Mortgage 417

Mortgage Business Finance Investing 417

Housing Wire

APRIL 24, 2024

Pennymac Financial Services earned a profit of $39.3 million in the first quarter of 2024, the California -based multichannel lender and servicer announced Wednesday. The company’s pretax gain in the first quarter was $43.9 million. That was less than the $38.1 million figure it posted during the same period last year but a significant improvement from the pretax loss of $54.2 million it incurred in fourth-quarter 2023.

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Lending Legal Contracts Mortgage 407

Housing Wire

APRIL 5, 2024

Today’s jobs report beat estimates , but the internals show the labor market is softening, as the Federal Reserve wants. The data shows that wage growth is cooling down and the job opening quits rate is below pre-COVID-19 levels. This bodes well for those hoping to see a soft landing, and for those hoping for lower mortgage rates. The 10-year yield has had a wild ride today, but now is an excellent time to look at my macro take on the labor market and explain what the Fed is looking for wi

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Marketing Mortgage Construction Government 476

Housing Wire

APRIL 26, 2024

The U.S. Department of Housing and Urban Development (HUD) on Friday announced that a proposed change to the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program has been modified to bar the practice of premium pricing, and it will only allow interested party contributions (IPCs) on H4P closing costs from property sellers, builders, real estate agents and developers.

Real Estate Agent 394

Real Estate Agent Development Real Estate Law 394

Housing Wire

APRIL 18, 2024

The Financial Crimes Enforcement Network (FinCEN), a division of the U.S. Department of the Treasury , is sounding the alarm over challenges faced by elder financial exploitation (EFE). In a newly released trends report, FinCEN highlighted more than $27 billion worth of “suspicious activity” across more than 155,000 filings of Bank Secrecy Act (BSA) data with FinCEN between June 15, 2022 and June 15, 2023.

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Real Estate Development Investing Mortgage 444

Housing Wire

APRIL 15, 2024

Last week’s above-consensus inflation figures brought the mortgage market back to a sour reality: The average 30-year fixed mortgage rate, an index closely watched by industry experts, may be close to or even above the 7% level for longer than previously expected. If this scenario unfolds, analysts and executives will be ready to update their baseline expectations for 2024, including fewer refinance and purchase loans than previously forecast.

Mortgage 453

Mortgage Retail Buyers Investors 453

Housing Wire

APRIL 17, 2024

Nearly half (48%) of a $65 billion portfolio of loans processed during the first quarter of 2024 contained vulnerabilities to wire and title fraud , according to a report released Wednesday by FundingShield. The portfolio of loans examined included residential, commercial investor and business purpose loans. On loans that exhibited problems, the analysis found an average of 2.22 issues, which FundingShield says indicates a lack of appropriate controls by closing agents and lenders to identify an

Insurance 445

Insurance Agents Tools Legal 445