Housing Wire

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Mr. Cooper Group subsidiary launches DIY sales platform — no agent needed

Housing Wire

Online real estate auction marketplace Xome is launching a DIY sales platform for investors. Platform users will not need to use a real estate agent to complete their transaction, according to an announcement from the firm on Wednesday. Xome is an indirect, wholly owned subsidiary of Mr. Cooper Group that provides mortgage servicers with end-to-end asset marketing and disposition strategies, recapture solutions, and real estate and data services.

Agents 450
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Remote reverse mortgage counseling now permanently permitted in Massachusetts

Housing Wire

A bill that will permanently allow for remote reverse mortgage counseling via telephone or video conferencing services in the state of Massachusetts has been signed into law by Gov. Maura Healey (D), doing away with a strict face-to-face requirement that has stretched the state’s counseling resources and, at times, halted reverse mortgage business within the state.

Mortgage 384
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Tri-state area housing shortage could cost the region economically 

Housing Wire

The tri-state area of New York , New Jersey and Connecticut may face a housing gap of 920,000 units by 2035, a new report published by the Regional Plan Association (RPA) found. The analysis, conducted by McKinsey & Co. , highlights a current shortage of 540,000 housing units in the region. To address this looming crisis, the pace of construction will need to increase significantly, the report states.

Investing 376
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Low inventory creates challenging conditions in North Carolina’s housing market

Housing Wire

No matter where you are in the Tar Heel State, real estate professionals across North Carolina are frustrated by the lack of housing inventory. “The challenge remains lack of inventory — that’s definitely the big one,” said Alison Alston , the broker-owner of Charlotte-based Lodestone Real Estate and Investments. “We have just not had any luck getting a lot of inventory increase here in Charlotte.

Inventory 299
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Virginia Realtors: Zillow’s touring agreement may not be legal

Housing Wire

Earlier this week, Zillow launched a new “touring agreement,” a nonexclusive contract for buyers and agents to use for home tours. The real estate giant was prompted to do this by the terms of National Association of Realtors’ (NAR) commission lawsuit settlement agreement which requires agents to have a written agreement with a client in order to work with them as a buyer broker.

Legal 304
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Retail losses lead February decline in reverse mortgage volume

Housing Wire

Reverse mortgage volume dropped in February compared to the month prior, and new data compiled by Reverse Market Insight (RMI) shows that the primary culprit for the month was retail reverse mortgage originations. The retail channel volume decrease of 15.7% effectively “masked” a gain of 3.9% posted on the wholesale side of the business, according to RMI.

Retail 317
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Demand stalled in March for new-home purchases: MBA

Housing Wire

Mortgage applications for new homes stalled in March as buyers felt the brunt of sustained home price growth. Compared to February 2024, mortgage applications for new-home purchases rose 1% in March. Applications were up 6.2% from March 2023, according to the Mortgage Bankers Association ’s (MBA) Builder Application Survey. According to MBA estimates, new single-family home sales were at a seasonally adjusted annual rate of 615,000 units in March, the slowest annualized pace in four months, and

Buyers 366