Housing Wire
APRIL 15, 2024
Fannie Mae and Freddie Mac will not count buyer’s agent commissions as part of their allowable interested party contributions (IPCs), according to announcements from the government-sponsored enterprises (GSEs) on Monday. The GSEs noted that this guidance was not an update to their selling guides but a clarification on the treatment of seller-paid real estate agent fees.
Appraisal Buzz
APRIL 15, 2024
By now, most appraisers are aware that Fannie Mae and Freddie Mac (GSEs) have embarked on a complete overhaul of the Uniform Appraisal Dataset (UAD). UAD originated in 2010 and since then we appraisers are accustomed to using codes like “C4,” “N;Res,” and “1200sf0sfin” in our mortgage appraisal reports to communicate the results of our analysis. These codes, or language, make sense to appraisers but confuse uninitiated readers of our reports.
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Sacramento Appraisal Blog
APRIL 16, 2024
Everyone is entitled to an opinion, but I find some people sounding off about housing seem disconnected from the actual market. I want to talk about that below and share some trends. Skim by topic or digest slowly. UPCOMING SPEAKING GIGS: 4/25/24 HomeSmart iCare Realty (details TBA) 4/26/24 Prime Real Estate (private) 5/9/24 Empire Home […] The post Strong opinions about the housing market first appeared on Sacramento Appraisal Blog.
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.
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).
Appraisal Buzz
APRIL 17, 2024
Mortgage application volume increased 3.3% during the week ended April 12, driven mainly by a 5% increase is purchase applications, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Compared with the same week one year ago, applications for purchases were up 6%. Applications for refinances increased 0.5% compared with the previous week and were up 11% compared with the same week one year ago.
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Real Estate News
APRIL 16, 2024
PulteGroup, which potentially has thousands of claims as a seller, raised concerns about “needless and time-consuming” paperwork and lack of transparency.
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.
Appraisal Buzz
APRIL 15, 2024
LenderLogix , a provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, has released its first-quarter Homebuyer Intelligence Report, a summary of insights into borrower behavior during the home buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process during the first quarter.
Inman
APRIL 18, 2024
Existing-home sales retreated 4.3 percent between February and March to a seasonally adjusted annual rate of 4.19 million, according to data released Thursday by the National Association of Realtors.
Real Estate News
APRIL 16, 2024
The federal finance giants clarified their policies, confirming that buyer agent compensation won't be applied to concession limits.
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.
Appraisal Buzz
APRIL 17, 2024
This week on the Appraisal Buzzcast, host Hal Humphreys interviews Kelly Davids, President of The Appraisal Foundation. Davids discusses her background in the industry and how it led to her new role as president. What is her vision for the future of the industry? How can we all get involved with The Appraisal Foundation? What are some of the initiatives they are launching in the near future?
Inman
APRIL 17, 2024
Fannie, Freddie and FHA say sellers can continue to pay the buyer's agent's commission. But it remains to be seen if buyers will be allowed to finance their agent's commission into their mortgage.
Real Estate News
APRIL 18, 2024
No rate relief is expected soon, and home prices are also setting records this spring, suppressing existing home sales.
Housing Wire
APRIL 18, 2024
A former loan officer at Guaranteed Rate (G-Rate) has sued the lender and two managers for allegedly discriminating against her on the basis of gender, failing to compensate her equally to male coworkers with similar performance and subjecting her to sexual harassment. In response, the lender said it’s conducting a detailed investigation into the claims.
Appraisal Buzz
APRIL 19, 2024
This content is password protected. To view it please enter your password below: Password: The post Protected: RSDS APPRAISAL DIVERSITY ANNOUNCES NATIONWIDE HIRING OF W-2 STAFF APPRAISERS appeared first on Appraisal Buzz.
Inman
APRIL 17, 2024
Co-founder of The Agency's BZP Group and regular cast member on "Buying Beverly Hills" Joey Ben-Zvi writes that professionalism and respect are essential to leaving the right way.
Real Estate News
APRIL 16, 2024
During a livestream presentation, Bright MLS’s chief economist highlighted some of the most misunderstood topics or mistaken beliefs about real estate.
Housing Wire
APRIL 18, 2024
Atlanta-based PulteGroup Inc. , one of the largest homebuilders in the U.S., has filed an objection in the Sitzer/Burnett commission lawsuit following settlements with Anywhere , RE/MAX and Keller Williams. PulteGroup says that the company does not have enough information to adequately determine the amount of money it could recover, among other issues, according to a court filing reviewed by HousingWire.
Appraisal Buzz
APRIL 18, 2024
The average rate for a 30-year fixed-rate mortgage increased to 7.10% this week, up from 6.88% last week, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago at this time, the average rate for a 30-year was 6.39%. “The 30-year fixed-rate mortgage surpassed 7 percent for the first time this year, jumping from 6.88 percent to 7.10 percent this week,” says Sam Khater, chief economist for Freddie Mac, in a statement.
Inman
APRIL 15, 2024
The European-style home is located in the Hollywood Hills' coveted Bird Streets. The sale marks a breakthrough for a market that's been crippled by high interest rates and a mansion tax.
Real Estate News
APRIL 13, 2024
Bright MLS legal counsel Brian Schneider explained the ins and outs of the NAR settlement rule changes. Here’s what real estate professionals need to know.
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.
Appraisal Buzz
APRIL 18, 2024
Overall, delinquency rates for commercial mortgages were flat during the first quarter compared with the second quarter, but loans backed by office properties continued to see a rise in delinquencies, according to the Mortgage Bankers Association. “While overall delinquencies remained flat, the delinquency rate for loans backed by office properties rose again during the first three months of this year,” says Jamie Woodwell, head of commercial real estate research for the MBA, in a statement.
Inman
APRIL 18, 2024
One Connecticut homebuyer is preparing for marriage. Another in Virginia is healing from a divorce. Both tell Inman the struggle to find a home this spring is real — and the clock is ticking.
Real Estate News
APRIL 16, 2024
A new survey from Real Brokerage offers insight into agent sentiment and how they really feel about the industry changes set to go into effect this summer.
Housing Wire
APRIL 18, 2024
Every business is on the brink of significant transformation driven by the potential of Artificial Intelligence (AI) and workflow automation, and the mortgage industry is no exception. With AI’s capacity to perform complex reasoning and manage autonomous operations, it is critical to explore how this technology can reshape industry standards, enhance operational efficiency, and how we as an industry manage its inherent risks.
Appraisal Buzz
APRIL 18, 2024
Existing-home sales plummeted 4.3% in March compared with February, falling to a seasonally adjusted annual rate of 4.19 million, and were down 3.7% compared with March 2023, as rising mortgage rates stopped the rebound heading into the spring home buying season, according to the National Association of Realtors (NAR). Rising home prices also impacted sales velocity: The median existing-home sales price in March increased to $393,500 – up 4.3% compared with March 2023.
Inman
APRIL 15, 2024
A provision in NAR's settlement barring listing agents from offering buyer agents compensation is "largely symbolic," USC professor Jordan Barry said Friday at a University of Minnesota conference.
Real Estate News
APRIL 17, 2024
Get answers to the big questions on everyone's mind: What will happen with inventory and mortgage rates — and will the NAR settlement impact the market?
Housing Wire
APRIL 16, 2024
In the wake of the recent NAR settlement , coupled with persistently sluggish home sales and high interest rates , real estate agents find themselves at a crossroads marked by uncertainty and unease. Amidst this backdrop, brokerages face a critical task; keeping their agent counts from diminishing. However, with many agents feeling uncertain about their futures, a potential mass exodus from the industry may be looming.
Appraisal Buzz
APRIL 16, 2024
Aaron Belovsky has joined subservicer Dovenmuehle Mortgage as chief data officer (CDO). Belovsky has more than two decades of software engineering experience. Most recently, he served as engineering manager at Pixelberry Studios, where he contributed to the company’s go-to-market strategy and coached the organization on agile methodology. In addition, Belovsky has held software engineering and leadership roles across verticals in healthcare, software consulting, hospitality and government sector
Inman
APRIL 18, 2024
On Wednesday, executives told customers that a "security incident involving a malicious third party" caused the outage that has disrupted thousands of brokers and agents since last week.
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