Housing Wire

NOVEMBER 29, 2023

Forming partnerships with mortgage brokers can be mutually beneficial. More tools to help agents get more real estate buyer leads in 2024 Use this tool: Coffee & Contracts Coffee & Contracts is like a social media toolkit for real estate agents.

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Real Estate Buyers Tools Real Estate Agent 410

Housing Wire

OCTOBER 26, 2023

Despite the slight gain, pending contracts remain at historically low levels due to the highest mortgage rates in 20 years,” Lawrence Yun, NAR chief economist said in a statement. in 2024, hitting 800,000 new homes. in 2024, to $445,800. In 2024, they should rise by 13.5% In 2024, it will rise to 1.48

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Inventory Contracts Housing Market Realtors 410

Housing Wire

FEBRUARY 29, 2024

For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. Meanwhile, new home sales , which are also a measure of contract signings, reached a seasonally adjusted annual rate of 661,000 in January, up 1.5% NAR’s Pending Home Sales Index (PHSI) decreased to 74.3 in January, down from 77.3 in December.

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Contracts Inventory Realtors New Listings 432

Housing Wire

NOVEMBER 1, 2023

The newly-updated Fannie Mae November Selling Guide now bars job offers or contracts for future employment from family members or interested parties involved in a transaction. “We It also clarifies what portion of shared appreciation proceeds must be applied against the first mortgage loan,” the update states. 1, 2024.

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Contracts Training Sellers Mortgage 432

Housing Wire

NOVEMBER 1, 2023

The coming winter is expected to be an existential test of survival for many independent mortgage banks (IMBs), according to leaders of several mortgage advisory firms. “We’re really at the darkest part of the market this winter,” Brian Hale, CEO and founder of consultancy Mortgage Advisory Partners , said. .

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Mortgage Loan Officers Finance Buyers 441

Housing Wire

MARCH 28, 2024

Pending home sales increased modestly in February despite rising mortgage rates , growing 1.6% For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. annually in February 2024. in January.

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Inventory Realtors Contracts Sellers 458

Housing Wire

MARCH 15, 2024

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule. Assisting homebuyers and their agents adds more to an LO’s plate.

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Buyers Agents Mortgage Real Estate Agent 504

Housing Wire

JUNE 5, 2023

Direct retail lender Revolution Mortgage has scooped up two of loanDepot ‘s top LOs, accelerating its plans to expand market share despite a tough origination environment. billion in 2023 and expects a target production of $4 billion in 2024. Johnson estimates origination volume will be between $2 billion and $2.5

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Loan Officers Mortgage Lending Retail 384

Housing Wire

APRIL 20, 2022

With rates at the highest level in a decade, mortgage applications for the week ending April 15 fell 5%, according to the latest survey by the Mortgage Bankers Association. Purchase mortgage applications were down 14% from the same week a year ago. As a result, other types of mortgage products are seeing renewed interest.

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Mortgage Contracts Buyers 410

Housing Wire

FEBRUARY 27, 2023

“Buyers responded to better affordability from falling mortgage rates in December and January,” Lawrence Yun, NAR’s chief economist, said in a statement. An index of 100 is equal to the level of contract activity in 2001. in 2024 Despite these conditions, Yun still expects annual existing home sales to drop 11.1% million units.

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Housing Market Realtors Contracts Buyers 432

Housing Wire

MARCH 12, 2024

loanDepot greatly reduced its costs in 2023 while revenues were in free fall amid a contracting market. Operationally, loanDepot entered 2024 by dealing with a cyberattack that brought its systems down and a forecast for market conditions to improve. billion in mortgages, compared to $6 billion in the previous quarter and $6.3

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Legal Contracts Marketing Mortgage 421

Housing Wire

APRIL 27, 2023

An index of 100 is equal to the level of contract activity in 2001. In addition, NAR forecasts that mortgage rates will drop to 6.0% in 2024, and housing starts will fall 7.3% annual in 2024 to 1.54 annual increase in 2024, bringing existing home sales back up to 5.26 to $390,000 in 2024. year over year.

Inventory 432

Inventory Realtors Contracts Construction 432

Housing Wire

DECEMBER 6, 2023

Pennymac Financial Services is the latest mortgage company to issue debt in a challenging housing market. Analysts see mortgage companies issuing debt as a sign that market conditions may improve in 2024. million to Black Knight in damages related to a breach of contract claim.

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Contracts Investing Mortgage Investors 410

Housing Wire

APRIL 24, 2024

million in the first quarter of 2024, the California -based multichannel lender and servicer announced Wednesday. Its owned mortgage servicing rights (MSR) portfolio had a UPB of $386.6 million in damages tied to a breach of contract claim in a four-year dispute involving the companies. That was less than the $38.1

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Lending Legal Contracts Mortgage 421

Housing Wire

DECEMBER 7, 2023

Students chose the school for its offering of live instruction classes for salespersons, brokers, appraisers, mortgage, and home inspection courses at various locations and convenient times, including weekend classes. out of 5 stars Rating: 5 out of 5. out of 5 stars Rating: 5 out of 5.

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Real Estate Real Estate Agent Law Brokerage 409

Housing Wire

JULY 27, 2023

An index of 100 is equal to the level of contract activity in 2001. The trade association forecasts the 30-year fixed mortgage rate to close at 6.4% in 2024, according to NAR’s forecast. million in 2024. in 2024, to 820,000. million, or 5.4%, in 2024. this year and then decline to 6.0% and West (57.7)

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Construction Inventory Realtors Housing Market 370

Housing Wire

NOVEMBER 15, 2023

mortgage lender, has decided to close its wholesale channel, which produced over $1 billion in volume in the first half of this year. Citizens was among the few large depository banks operating in retail, wholesale and correspondent in the mortgage space. In 2018, it acquired Franklin American Mortgage. billion, down 42.6%

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Retail Mortgage Brokerage Finance 441

Housing Wire

APRIL 22, 2024

Djon spoke on Sunday during a session on lead generation at The Gathering, HousingWire ’s real estate and mortgage conference, held in Scottsdale, Arizona. The change would go into effect in mid-July 2024 if the settlement is approved by a judge. People will still need to buy a home after July.

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Brokerage Real Estate Realtors Real Estate Agent 421

Housing Wire

DECEMBER 20, 2022

The housing market will continue to slow down in 2023 , even though mortgage rates have declined recently. Total mortgage origination activity is expected to be at $2.35 However, the landscape seems better for 2024. According to Fannie Mae’s economists group, the real GDP will recover in 2024, expanding at a 2.2%

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Housing Market Marketing Contracts Mortgage 370

Housing Wire

JANUARY 11, 2024

District Court for the Northern District of Texas , Ginnie Mae has filed its response to a lawsuit brought against it by Texas Capital Bank (TCB) saying the warehouse lender lacks standing and discounts the authority the government has to extinguish a lender from its reverse mortgage-backed securities program.

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Lending Government Legal Law 432

Housing Wire

OCTOBER 16, 2023

“I believe that we are at the point where we can hold rates where they are,” Harker said at the 2023 Mortgage Bankers Association Annual Convention & Expo in Philadelphia on Monday. He told conference attendees that inflation is pegged to drop below 3% in 2024 and level at the 2% target thereafter.

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Contracts Marketing Mortgage Finance 410

Housing Wire

OCTOBER 25, 2022

Recession is coming, according to the Mortgage Bankers Association. . The economic dislocation will bring mortgage originations down to $2.05 “The slowdown in housing activity and higher mortgage rates will quickly cut the rate of home-price growth. “Mortgage insurers are forecasting between $1.3

Mortgage 370

Mortgage Contracts Insurance Business 370

Housing Wire

FEBRUARY 2, 2024

That’s despite a net loss in the last quarter of the year attributable to the resolution of a long-standing arbitration process with Black Knight regarding its servicing technology and losses in mortgage servicing rights (MSR) fair value. HousingWire reported in December that an arbitrator awarded Black Knight $155.2

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Technology Legal Mortgage Contracts 410

Housing Wire

OCTOBER 25, 2023

On Wednesday, top executives at the company told analysts that Mr. Cooper is now the largest servicer in the country and will continue to grow its portfolio by acquiring large bulks of mortgage servicing rights (MSRs), mainly from banks expecting additional capital requirements through Basel III rules. Cooper had 4.3

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Business Contracts Mortgage Investing 410

Housing Wire

NOVEMBER 7, 2023

loanDepot also announced a $120 million annualized cost reduction target, including $100 million in non-volume related expenses – for example, vendor contract termination and renegotiation, optimized marketing spending and corporate real estate cost reductions. The company expects to achieve most of the savings by the end of Q1 2024.

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Legal Contracts Real Estate Mortgage 421

Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to a review of bond-rating and industry reports.

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Housing Market Marketing Contracts Finance 421

Appraisal Today

NOVEMBER 3, 2023

Advisory Opinions For 2024, the ASB has retired Advisory Opinion 16 (AO-16) and replaced it with two new Advisory Opinions, AO-39 and AO-40. These requirements are carried forward in the 2024 edition of USPAP. USPAP 2024 is effective January 1, 2024. To read more, click here My comments: Be sure to read this blog post.

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Appraisal Contracts Architecture Mortgage 75

Housing Wire

OCTOBER 13, 2023

Recognizing the opportunities in the mortgage space, Grant Moon , former CEO and founder of fintech platform Home Captain , is gearing up to launch his new firm – BlueForceX. As a mortgage technology optimization platform, BlueForceX would provide data solutions, cut inflated tech solutions costs, and advise market positioning strategies.

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Technology Business Contracts Mortgage 410

Housing Wire

MARCH 1, 2023

Issuance of agency mortgage-backed securities (MBS) is projected to contract significantly over the next two years in the face of a housing-market contraction, but the actual supply of MBS available for purchase in the private market is expected to swell to record levels over that period. trillion by the close of 2024.

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Marketing Investing Mortgage Investors 384

Housing Wire

NOVEMBER 3, 2023

In fact, I’m not even sure that Redfin does not renew its Realtor membership for 2024, because they kind of have to.” If there is x number of units you need to sell to support your family, pay your mortgage, and all of a sudden your business as a buyer’s agent drops 25%, you are going to be impacted.” “In about half the U.S.,

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Realtors Agents Brokerage Contracts 432

Housing Wire

APRIL 22, 2024

On Sunday morning, Murray and Wright addressed a crowd of real estate industry executives and leaders gathered at the JW Marriot Camelback Inn, in Scottsdale, Arizona for the opening session of HousingWire’s 2024 The Gathering conference. My advice is to start simple. We like deals where core services are non-existent or very weak. “We

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Brokerage Real Estate Agents Sellers 440

Housing Wire

FEBRUARY 15, 2024

They’re using a DPA program through the New Jersey Housing and Mortgage Finance Agency (NJHMFA). They come in the forms of grants, second mortgages, deferred loans and forgivable loans. said Michael Ullmann, a producing branch leader at Movement Mortgage.

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Mortgage Buyers Loan Officers Sellers 450

Lamacchia Realty

FEBRUARY 14, 2024

ARE YOU A "WANT-TO-BE" SELLER IN 2024? From low inventory levels to increasing mortgage rates , the real estate landscape has experienced a multitude of changes and challenges over the last several years, leaving many sellers wondering when the “right” time to list would be given current market conditions.

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Sellers Realtors Buyers Inventory 65

Housing Wire

JANUARY 23, 2024

home sales in nearly 30 years as high mortgage rates frustrate buyers, the market is reshaping real estate once again, placing buyers on the back foot and swinging the pendulum back to favoring sellers. Well into January, we are already seeing properties go under contract in the first weekend with multiple offers.

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Real Estate Agent Real Estate Buyers Agents 450

Housing Wire

APRIL 24, 2024

Cooper Group unveiled strong financial results during the first quarter of 2024, buoyed in part by a strong servicing and subservicing business. in Q1 2024, up from 12.5% Bray also reintroduced Pyro , Mr. Cooper’s patented mortgage-centric AI platform that the company has been developing since 2019 in partnership with Google.

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Technology Lending Investing Contracts 395

Appraisal Today

APRIL 5, 2024

NOTE: Please scroll down to read the other topics in this long blog post on appraiser discrimination lawsuit, waivers, staying positive with slow business, appraiser’s economic forecast, unusual homes, mortgage origination stats, etc. The second development in the case is that on March 22, 2024, the attorneys for Drs.

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Appraisal Contracts Business Construction 75

Housing Wire

JANUARY 18, 2024

Our recent acquisition of assets from Evolve mortgage, SigniaDocuments, include its SMART Doc engine and whole set of docs for mortgage, including HELOCs. Beyond that, making sure we are where we need to be as we progress through 2024. SW: What do you see as the biggest opportunity in 2024?

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Technology Real Estate Architecture Investing 324