article thumbnail

Compass CEO Reffkin believes agents will still be valued in a post-settlement world

Housing Wire

First, more buyers are using agents in 2023 than in 2003. Second, buyer agreements are not new. Compass has the best value proposition for buyers of any brokerage firm,” Reffkin said. Reffkin’s confidence came from what he called “five facts.”

Agents 360
article thumbnail

New American Funding onboards top Chicago loan officer 

Housing Wire

Through NAF Cash, the lender purchases the buyer’s chosen home upfront with cash while the buyer can rent the new home while working on selling the old home or securing financing on the new one. The lender originated $9.6 billion in mortgages in 2023, according to estimates from Inside Mortgage Finance.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Nations Lending, Carpenter Realtors launch Commitment Mortgage

Housing Wire

The goal is to help home buyers search for homes and then capitalize on loan offerings, the lender said in a release. Founded in 2003, Nations Lending provides Federal Housing Administration , the Department of Veterans Affairs , conventional, jumbo and the U.S. According to the NMLS , Commitment Mortgage has four sponsored MLOs.

Lending 350
article thumbnail

Average U.S. 30-year mortgage rate rises from all-time low

Housing Wire

Mortgage lending volume this year is likely to break records as homeowners refinance and new buyers scramble to take advantage of some of the cheapest financing costs history, Fannie Mae said in a forecast on Tuesday. Originations this year are expected to reach an all-time high of $3.9 trillion , boosted by $2.4

Mortgage 512
article thumbnail

The last time houses were this unaffordable was 2006

Housing Wire

Potential borrowers who’ve been priced out of the housing market need to be able to compete with an increasingly growing share of cash buyers and investors who are beating them in bidding wars. How lenders can continue to serve borrowers despite housing affordability challenges. Presented by: Finance of America.

article thumbnail

Lenders target growing Hispanic homeownership market

Housing Wire

The new program and tool launches come as potential Hispanic home buyers face a tight housing market with historic low level of supply for affordable homes. CrossCountry, founded in 2003 by Ronald Leonhardt, has more than 8,000 employees with nearly 600 branches across 50 states. Presented by: Mortgage Coach. billion in loans.

Marketing 364
article thumbnail

The risk of zero-down loans while the Fed talks recession

Housing Wire

So when you add move-up buyers, move-down buyers, first-time homebuyers, cash buyers and investors together, this can get out of hand. The National Association of Realtors’ total Inventory data shows that historically we have between 2 to 2.5 million homes for sale, but in 2022 we got as low as 870,000 in total inventory.

Inventory 544