Trending Articles

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DOJ charges one of America’s top LOs in alleged mortgage fraud scheme

Housing Wire

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 407
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What’s the Deal with Short Term Rentals?

Appraisal Buzz

Today, host Hal Humphreys chats with Jason Ferris, MAI, SRA and owner of Bell Ferris, Inc. Ferris discusses his background in the industry and his experience with Short Term Rentals. It seems like bringing up Short Term Rental valuation is the quickest way to start a fight on social media. Why is there such wild variance of opinions on how to handle these?

Valuation 326
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Why is housing supply so low? Blame local zoning

Real Estate News

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

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Biased Unbiasedness?

George Dell

Biased thinking, biased analysis — a part of the appraisal process? The Appraisal Institute is starting to address some bias-related critical issues — head on. Cindy Chance, the CEO of the AI, in her recent posts noted the role of human bias as a natural phenomena of the survival of the species. She cited the […] The post Biased Unbiasedness?

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Sitzer judge grants preliminary approval for NAR settlement

Inman

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.

Realtors 203
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Judge grants preliminary approval of NAR commission lawsuit settlement 

Housing Wire

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 455

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Top portal rivals show mutual support for buyer agency

Real Estate News

This week, Zillow CEO Rich Barton praised Realtor.com CEO Damian Eales’ latest push to educate homebuyers about changes coming to the industry.

Buyers 301
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Green Building: Resiliency Practices

Eyes on Housing

Green homes go beyond lessening their environmental impact; they also actively mitigate the effects of the environment upon them. All homes can face damage from environmental hazards, prompting builders to implement resiliency practices to reduce such risks. This post will detail the prevalence of resiliency building, specific practices by hazard, as well as resiliency certification.

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60-day clock begins for brokerages seeking to opt into $418M NAR deal

Inman

Sitzer | Burnett plaintiffs on Friday asked the court to preliminarily approve the proposed deal. Brokerages and MLSs that were left out initially will have to take action by June 18 to be covered.

Brokerage 185
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Finally, some healthy housing inventory growth

Housing Wire

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.

Inventory 497
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Mortgage Applications Fell Last Week as 30-Year Increased to an Average 7.24 Percent

Appraisal Buzz

Mortgage application volume decreased 2.7% during the week ended April 19, as the average rate for a 30-year fixed-rate mortgage increased to 7.24%, up from 7.13% the previous week, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Applications for refinances decreased 6% compared with the previous week but were up 3% compared with the same week one year ago.

Mortgage 307
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‘Change will absolutely happen’ — so build something new

Real Estate News

Real estate has gone through massive changes over the past 50 years, says industry icon Stefan Swanepoel, but it’s time to focus on the future.

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Highest Paid Occupations in Construction in 2023

Eyes on Housing

Half of payroll workers in construction earn more than $58,500 and the top 25% make at least $79,450, according to the latest May 2023 Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) and analysis by the National Association of Home Builders (NAHB). In comparison, the U.S. median wage is $48,060, while the top.

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6 ways AI and blockchain will bring more deals to real estate agents

Inman

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

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Technology’s role in rental property investment market

Housing Wire

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 428
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Loan Performance Remained Stable in March, ICE’s First Look Report Shows

Appraisal Buzz

Mortgage delinquencies were at a rate of 3.2% as of the end of March, a decrease of 4.15% compared with February but up 9.4% compared with March 2023, according to ICE Mortgage Technology’s First Look report. As of the end of the month there were about 1.7 million residential properties 30 days or more past due but not in foreclosure, according to the report.

Inventory 195
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Judge grants preliminary approval of NAR settlement

Real Estate News

A hearing for final approval is scheduled for Nov. 26. The court filing also included information about who is covered in the nationwide class action.

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Fannie Mae ‘Census Block Grid’ Adjustment Raises Redlining Concerns

Appraiserblogs

“FNMA’s collateral underwriter tool has a line item adjustment it makes on every comparable called Census Block Grid.” In a recent discussion within the comments section of an article titled ‘The Censorship of Appraisers,’ appraiser Spencer Paul shared a concerning statement from an underwriter about an adjustment made by Fannie Mae’s Collateral Underwriter tool.

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CoStar to acquire 3D scanning company Matterport for $1.6B

Inman

Matterport's board of directors unanimously approved the deal, which will be finalized later this year. CoStar purchased its outstanding stock for $5.50 per share, reflecting a value of $1.6 billion.

Brokerage 188
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Best real estate continuing education schools for quick and easy license renewal in 2024

Housing Wire

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!

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New Home Sales Jumped in March Despite Higher Mortgage Rates

Appraisal Buzz

New home sales in March were at a seasonally adjusted annual rate of 693,000, an increase of 8.8% compared with February and up 8.3% compared with March 2023, according to estimate from the U.S. Census Bureau and U.S. Department of Housing and Urban Development. The median sales price of a new home sold in March was $430,700. The average sales price was $524,800.

Mortgage 195
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Inventory is way up in Florida — but prices are still rising

Real Estate News

Active listings are back to pre-pandemic levels, but home prices — and home insurance costs — keep going up, creating a tough market for buyers and sellers.

Inventory 262
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All-Cash Sales Dropped to Lowest in 3 Years

Eyes on Housing

NAHB analysis of the most recent Quarterly Sales by Price and Financing report reveals that the share of new home sales backed by VA loans climbed substantially in the first quarter of 2024, while all-cash sales share fell by nearly 30%. However, the median purchase price of homes bought with cash continued to increase in.

Finance 106
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Flat-fee brokerage Homie makes remarkable pivot amid upheaval

Inman

The Utah-based disruptor "moved our real estate agents from W2 to 1099" while other "non-Homie" agents were laid off last week due to "role redundancy," a Homie spokesperson confirmed to Inman.

Brokerage 188
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California Association of Realtors CEO resigns

Housing Wire

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
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Informative Research Hires Kurt Raymond as Senior Vice President 

Appraisal Buzz

Mortgage industry veteran Kurt Raymond, CMB, has joined Informative Research as senior vice president and borrower journey engineer. Raymond co-founded mortgage industry consulting firm Excelerate Advisors and serves as owner and founder of KATANTCO2, specializing in connecting small and emerging companies to other mortgage industry entities. He spent over a decade in various executive and managerial positions, where he led a highly successful team that included analytics, risk management, train

Lending 195
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Mortgage interest rates soar above 7%, reaching new 2024 high

Real Estate News

No rate relief is expected soon, and home prices are also setting records this spring, suppressing existing home sales.

Mortgage 304
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Despite Higher Mortgage Rates, New Home Sales Post Solid Gain in March

Eyes on Housing

Despite higher interest rates last month, new home sales rose in March due to limited inventory of existing homes. However, the pace of new home sales will be under pressure in April as mortgage rates moved above 7% this month, which is expected to moderate sales and increase the use of builder sales incentives this.

Mortgage 102
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Real estate brokers didn’t fear the lawsuits — until NAR settled: Intel

Inman

Anxiety around commissions leaped to the top of the worries brokerage leaders face, pushing down concerns around inventory and competition, according to Inman Intel Index survey results.

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Download these 9 real estate prospecting letter templates that actually work

Housing Wire

Do you remember the last time you received a letter in the mail, in an envelope, that was hand-addressed to you? People remember snail mail simply because we don’t receive much of it. Emails are easily forgotten, end up in the spam folder, or are never opened at all — but a letter in the mail ensures you occupy your audience’s mindshare for much longer.

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Research Shows Snapdocs Accelerates Loan Production Timeline

Appraisal Buzz

Research conducted by STRATMOR Group shows that mortgage lenders using Snapdocs ’ e-closing platform are 18 days faster than industry peers across the loan production timeline—from loan application through delivery to the secondary market. The research is based on self-reported performance data from over 150 mortgage lenders. It shows that lender participants using the Snapdocs e-closing platform averaged only 41.1 days from application to closing and 11 days from closing to shipping—a 26% overa

Mortgage 195
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What’s new and what’s next, post-NAR commissions deal?

Real Estate News

The Supreme Court passes on a chance to weigh in, objections pile up, and Fannie and Freddie say it’s all right to exclude commissions from seller concessions.

Sellers 236
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Existing Home Sales Decline in March

Eyes on Housing

After reaching the 12-month high last month, existing home sales retreated in March due to lingering high mortgage rates, according to the National Association of Realtors (NAR). Meanwhile, low resale inventory and strong demand continued to drive up existing home prices, marking the ninth consecutive month of year-over-year median sales price increases.

Realtors 121
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Corcoran agent finds her home fraudulently listed on Airbnb

Inman

Sarah Stewart only learned her Hamptons vacation home was fraudulently listed on the rental platform after someone called her to confirm that they should wire $25,000 outside of the Airbnb platform.

Agents 174