Sat.Mar 23, 2024 - Fri.Mar 29, 2024

article thumbnail

Keller Williams faces three lawsuits tied to its profit-sharing program 

Housing Wire

Three agents formerly affiliated with Keller Williams Realty — Jerri L. Moulder, David L. Bueker and Robert E. Hill — have taken legal action against the real estate brokerage by filing three separate class-action lawsuits, Inman first reported on Tuesday. The lawsuits contest alterations made to Keller Williams’ profit-sharing program, with one of them seeking a court order to halt further payouts until the case concludes.

Brokerage 493
article thumbnail

Fannie Mae: Mortgage Rates Likely to Remain ‘Higher for Longer’

Appraisal Buzz

Mortgage rates will likely remain “higher for longer” than previously forecast, according to Fannie Mae’s Economic and Strategic Research (ESR) Group. Because the job market remains strong and inflation continues to rise faster than expected, the number of rate cuts by the Federal Reserve could be curtailed later this year. As a result, Fannie Mae has downgraded its expectations for total home sales and mortgage originations in 2024.

Mortgage 391
Insiders

Sign Up for our Newsletter

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

article thumbnail

Do appraisers deduct value if there are concessions?

Sacramento Appraisal Blog

It’s been a heated week of conversation in light of the NAR lawsuit, and one part that feels misunderstood or even controversial is how appraisers might handle concessions ahead. Let’s talk about it. Any thoughts? UPCOMING SPEAKING GIGS: 4/11/24 Lindsay Carlisle Event (private) 4/25/24 HomeSmart iCare Realty (details TBA) 4/26/24 Prime Real Estate (private) 5/9/24 […] The post Do appraisers deduct value if there are concessions?

Appraisal 271
article thumbnail

A New Appraisal Approach?

George Dell

“A new valuation modeling paradigm” are the words used by the late Dr. Marv Wolverton. He is the author of the Appraisal Institute’s book on statistics for appraisers. He created the term in a response to my peer-reviewed Appraisal Journal article: “Common Statistical Errors and Mistakes: Valuation and Reliability.” The article itself can be summed […] The post A New Appraisal Approach?

Appraisal 195
article thumbnail

The Real Brokerage looks to build on 2023’s explosive growth

Housing Wire

With its supercharged growth over the past two years, it is no surprise that The Real Brokerage topped the 2024 RealTrends 500 Top Movers list for both transaction side count and sales volume. In 2023, Real recorded 48,905 sides, up 14,721 sides from 2022, and a sales volume of $21.2 billion, up $6.80 billion over the prior year. Not only were these figures good enough for the top mover spot, but Real ranked at No. 6 and No. 10 nationwide for transaction sides and sales volume, respectively.

Brokerage 450
article thumbnail

Climate Change: What it Means for the Mortgage Industry

Appraisal Buzz

In this week’s episode, host Hal Humphreys speaks with Toni Moss, CEO of AmeriCatalyst LLC and Speaker on Climate Change and its effects on the mortgage industry. Moss discusses her experience in the real estate industry, her research and findings on extreme climate conditions, and how these impact home insurance, mortgages, and real estate at large.

Mortgage 359

More Trending

article thumbnail

LoanDepot Appraisal Discrimination Settlement

Appraiserblogs

Connolly and Mott v. Lanham, 20/20 Valuations, and loanDepot.com, U.S. District Court, Maryland. This is one of the appraisal discrimination cases that has received significant attention – among appraisers, the media and government agencies. A Black couple in Baltimore – Dr. Connolly and Dr. Mott, both university professors – filed suit in August 2022 alleging racial discrimination against loanDepot.com and the appraiser it engaged to appraise their home for a refinance.

article thumbnail

NAR wants VA to change rules that prohibit veteran buyers from paying broker commissions

Housing Wire

The National Association of Realtors (NAR) urged the U.S. Department of Veteran Affairs (VA) to revise its policies that ban veterans from paying broker commissions, an issue that is gaining attention following the NAR’s landmark $418 million settlement. Earlier this month, the NAR announced the settlement of various lawsuits filed by home sellers, which allege that the real estate industry colluded to keep agent commissions artificially high at 5% to 6% of a home’s sale price.

Buyers 433
article thumbnail

Truv Verifications Soon to be Available Through Fannie Mae’s Desktop Underwriter

Appraisal Buzz

Truv , a provider of automated employment and income verification technology for mortgage lenders, banks and credit unions, is now a conditionally authorized report supplier for mortgage lenders using Fannie Mae’s Desktop Underwriter (DU) validation service. After final approval, which is expected later this year, Truv’s consumer-permissioned platform will be able to obtain and transmit income and employment data through the DU validation service, the company says in a release.

article thumbnail

Former Keller Williams agents sue over profit share changes

Inman

One of the class-action suits seeks $250 million in damages while the other is asking the court for a preliminary injunction stopping Keller Williams from distributing profit share payments.

Agents 182
article thumbnail

State & Local Tax Revenues: 2023 Fourth Quarter Analysis

Eyes on Housing

The Census Bureau’s Quarterly Summary of State & Local Tax Revenue shows a 1.3% increase in property taxes paid, rising from $769.2 to $778.9 billion (SA, trailing four quarter sum) in the fourth quarter of 2023. Total annual state & local tax revenue was $2.039 trillion, also 1.3% higher than 2022. The 1.3% quarterly increase.

article thumbnail

Opinion: How to win the coming mortgage refi race

Housing Wire

One of the most critical moments in any race is the very beginning. A mistake at the start can snatch away a win before the race is even underway. Any coach will tell you that springing into action the moment the shot is fired is a critical success factor for any athlete. A race is a useful analog for the mortgage business, especially as it relates to the refinance business.

Mortgage 407
article thumbnail

Loosening The Knot

Appraisal Buzz

Something that I like to do is to research the etymology of various words. This is essential in understanding older/historical texts, so that you can discern the usage of the word as it was intended by the author. It can be easy to merely overlay our own current usages and connotations and miss the true meaning and intent of the author’s words.

Sellers 352
article thumbnail

‘NAR’s days are numbered’: Ben Belack of ‘Buying Beverly Hills’

Inman

The Agency's Ben Belack shares his thoughts on NAR settlement news, the current industry landscape and the American Real Estate Association ahead of Season 2 of the popular Netflix real estate reality TV show.

article thumbnail

Commercial Real Estate Appraisal: How to Reduce Commercial Property Taxes

Appraisal Hub

In the bustling city of Toronto, commercial real estate stands as a cornerstone of investment and business operations. However, with great property comes great responsibility, including the inevitable property taxes that can significantly impact your bottom line. Understanding the nuances of commercial real estate appraisal is key to navigating these waters and potentially reducing your commercial property taxes.

article thumbnail

Figure Technology Solutions takes another step to become public

Housing Wire

Figure Technology Solutions (FTS), the parent company of Figure Lending LLC , took another step this week to become a public company, just one week after announcing a reorganization of its enterprise structure. On Wednesday, the company said it “has confidentially submitted a draft registration statement” with the U.S. Securities and Exchange Commission (SEC) regarding the proposed initial public offering of its equity securities.

article thumbnail

Long as the dog likes me…

Appraisal Buzz

The post Long as the dog likes me… appeared first on Appraisal Buzz.

Appraisal 370
article thumbnail

Moehrl attorney: Market shift after NAR settlement ‘will take time’

Inman

Robby Braun, partner at Cohen Milstein Sellers & Toll, addresses "misconceptions" about the NAR deal's impact and says Realtors who try to ignore the changes "will get left behind.

Realtors 192
article thumbnail

Consumer Confidence Remains Stable Despite Concerns About Future

Eyes on Housing

Consumer confidence held steady in March, with optimism about current conditions offset by concerns about the future economic outlook. This pessimism was primarily driven by persistent inflation, especially elevated food and gas prices. The Consumer Confidence Index, reported by the Conference Board, stood virtually unchanged at 104.7 in March, the lowest level since November 2023.

78
article thumbnail

11 real estate events & conferences to help you thrive in 2024

Housing Wire

It’s no secret that forging new connections at in-person events can help to grow your business. Nothing sets you up for success like learning the habits and best practices of more experienced agents, brokers and other housing professionals. While your online presence is crucial to your success, each real estate event or conference on our list can help you stay current with the latest market, tech and industry trends, build your skills and expertise, and expand your referral network.

article thumbnail

NAR: Pending Home Sales Increased 1.6 Percent in February

Appraisal Buzz

Pending home sales increased 1.6% in February compared with January but were down 7.0% compared with February 2023, according to the National Association of Realtors (NAR). Month-over-month, contract signings climbed in the Midwest and South but sank in the Northeast and West. Compared to one year ago, pending home sales declined in all U.S. regions.

Inventory 195
article thumbnail

Let’s debunk 7 mainstream media falsehoods, post-NAR settlement

Inman

Premier Sotheby’s International Realty President and CEO Budge Huskey corrects the record on commissions — and the potential impact of the NAR settlement on buyers, sellers and agents.

Realty 182
article thumbnail

[Webinar] GoFormz Office Hours: Discover the Latest Updates (April 2024)

GoForrmz

Join the live GoFormz Office Hours webinar all about the latest GoFormz features and what’s coming soon. Live on April 9th, 2024, at 11:00 AM PT / 2:00 PM ET, the GoFormz team is happy to share with you all the latest updates to the GoFormz platform. Hosted by VP of Product, Kelsey Griswold, and GoFormz Marketing Manager, Victoria Horn, you’ll get in-depth feature walkthroughs, a sneak peek at the newest features coming soon, and a live Q&A session to cover any GoFormz questions you have.

article thumbnail

‘This is a great time for women to be in real estate,’ survey finds 

Housing Wire

Since its inception in 1908, the National Association of Realtors (NAR) has undergone a remarkable transformation, with women now accounting for 62% of its membership, according to data for the trade organization. AceableAgent , an online real estate school, surveyed more than 600 female real estate agents near the end of 2023 to understand the motivations and experiences of women in the field.

article thumbnail

Mortgage Applications Dipped Last Week Despite Dip Rates

Appraisal Buzz

Mortgage application volume decreased 0.7% during the week ended March 22, despite a slight decrease in mortgage rates that brought the average rate for a 30-year to 6.93%, down from 6.97% the previous week, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Applications for refinances fell 2% compared with the previous week and were down 9% compared with than the same week one year ago.

Mortgage 195
article thumbnail

Broker Spotlight: Wyatt Poindexter, The Agency

Inman

Find out how this Oklahoma City broker's mindset helps him raise the bar on the service he provides and his own level of professional performance.

Brokerage 170
article thumbnail

Customer Story: Takitimu North Link

GoForrmz

“ Over the last two years, it’s been nothing but great for us. GoFormz makes everything easy, straightforward, organized, and consistent. ” — Blayn Fenwick, Environmental Advisor, Takitimu North Link About Takitimu North Link Project The Takitimu North Link Project a Waka Kotahi NZ Transport Agency Project, under construction in Tauranga, New Zealand is being delivered by a Fulton Hogan/HEB Construction Joint Venture to improve safety, access, resilience, and provide greater trav

article thumbnail

Opinion: Reformed FHA program will offer lenders new business opportunities

Housing Wire

Modern manufactured homes are an unusual feature of today’s housing market, the rare homeownership opportunity that is both lower-cost and high-quality. Thanks to the efficiencies baked into the construction processes of manufactured homes, these factory-built houses are both faster and less expensive to build than site-built homes, saving buyers between $50,000 to $100,000 per unit.

Business 391
article thumbnail

Bindiya Jain: To Personalize Offerings, Mortgage Lenders Should Look at Both Credit and Property Data 

Appraisal Buzz

PERSON OF THE WEEK: Mortgage lenders are struggling in this challenging market. As a result, many are turning their focus on their existing customers and looking for ways to expand and customize their offerings. But how can mortgage lenders looking to tailor their offerings gain a more comprehensive view of their customers’ needs? How can they personalize their offerings so as to meet the needs each borrower?

Mortgage 195
article thumbnail

DOJ launches criminal probe into RealPage amid rent-fixing scandal

Inman

The DOJ opened its investigation into the property management software firm as well as several multifamily building operators who authorities believe collaborated in a "price-fixing combination.

article thumbnail

At Federal Agency, The Mayhem Is the Message

Appraiserblogs

Mullinix has become a student of the “Title VIII Complaint Intake, Investigation, and Conciliation Handbook (8024.1).” The handbook is designed to protect citizens from overzealous federal workers. He found section after section had been violated in his own investigation by the HUD contractor. Czech-German author Franz Kafka wrote “The Trial” in 1915.

Design 78
article thumbnail

FHFA assisted nearly 44,000 troubled homeowners in Q4 2023

Housing Wire

Fannie Mae and Freddie Mac completed 43,903 foreclosure prevention actions in the fourth quarter of 2023, according to a new report published by the Federal Housing Finance Agency ( FHFA ). Over the course of 2023, the government-sponsored enterprises (GSEs) completed 192,897 foreclosure prevention actions. This brought the total to 6.905 million since the start of the GSE conservatorships in September 2008, the FHFA foreclosure prevention and refinance report showed.

article thumbnail

Case-Shiller: Home Prices ‘Continued to Drive Higher’ in January

Appraisal Buzz

U.S. home prices increased 0.4% on an adjusted basis in January compared with December and were up 6.0% compared with January 2023, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. The index’s 20-city and 10-city composites – measuring home prices in the 20 largest U.S. metros – posted month-over-month increases of 0.1% and 0.2% respectively.

Appraisal 195
article thumbnail

Mortgage rates are chasing Treasury yields lower — for now

Inman

With a key inflation report due Friday, mortgage rates and long-term Treasury yields have retreated to levels not seen in two weeks after Fed signals it could ease up on "quantitative tightening.

Mortgage 164