Housing Wire

MARCH 8, 2023

It’s counterintuitive but real: Despite surging mortgage rates , borrowers’ demand for home loans rose last week. There were very low levels of mortgage applications in the weeks prior to the surprising uptick. retail residential mortgage applications. In addition, adjustable-rate mortgages rose 13.9%

Mortgage 384

Mortgage Loan Officers Investors Government 384

Housing Wire

JULY 19, 2023

Go Mortgage sued its former director of capital markets for “corporate sabotage,” alleging computer fraud, violation of trade secrets, breach of contract and tortious interference with a business relationship. By then, Go Mortgage had sustained millions of dollars of financial losses.

Mortgage 370

Mortgage Marketing Retail Construction 370

Housing Wire

NOVEMBER 20, 2023

Real estate agents are facing a contracting issue that could seriously upend the traditional housing landscape. Under current guidelines, sellers pay a 5-6% commission on a sale which is split between the buyer and listing agents. Enter the savvy seller. But what happens if consumers pivot away from buyer agents altogether?

Agents 457

Agents Buyers Real Estate Agent Loan Officers 457

Housing Wire

MAY 1, 2024

During the first quarter of 2024, Zillow recorded revenue growth across all sectors of its business, including a 31% annual jump in its rentals revenue to $97 million and a 19% year-over-year increase in its mortgage revenue to $31 million. Barton also touched upon the terms of NAR’s settlement agreement.

Agents 433

Agents Real Estate Contracts Real Estate Agent 433

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. in February, up from 74.3 in January.

Inventory 458

Inventory Realtors Contracts Sellers 458

The Robert Weiler Company

JANUARY 2, 2021

In real estate, buyers and sellers must be knowledgeable to make informed decisions. Are you familiar with a land contract in Ohio, as well as the state-specific requirements? What is a land contract in Ohio, really? Essentially, a land contract is an alternative financing option if you’re investing in: Farmland or raw land.

Contracts 143

Contracts Tenants Legal Sellers 143

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. .

Mortgage 441

Mortgage Loan Officers Finance Buyers 441

Housing Wire

FEBRUARY 7, 2023

California-based Carrington Mortgage Services (CMS) sees a window of opportunity in the mortgage market. The Federal Reserve (Fed) actions that resulted in millions of borrowers receiving mortgage rates below 4% gave way to Fed actions that… triggered mortgage rates to rise above 7% in the fall of 2022.

Mortgage 384

Mortgage Loan Officers Government Buyers 384

Empire Appraisal Group

FEBRUARY 29, 2024

Lusky, DigitalVision, Getty Images Source: [link] FSBO Sellers Regret Not Having an Agent By Melissa Dittmann Tracey Survey: Sellers who go-it alone are twice as likely to be unsatisfied with the experience – and more likely to say their earlier opinion, “agents are overpaid,” was wrong.

Sellers 78

Sellers Agents Real Estate Agent Real Estate 78

Movoto

APRIL 8, 2024

After submitting an offer on a home you plan to purchase, a few things might happen – once an offer is accepted (typically, after negotiations but not always), real estate sales agreements come into effect between buyers and sellers. Should the buyer breach the contract (e.g., What Should be Included in Real Estate Sales Agreements?

Contracts 36

Contracts Real Estate Property Taxes Legal 36

Hank Miller Team

FEBRUARY 8, 2022

So what happens if the appraisal is below contract price? Appraisals below contract price will continue to be a challenge in 2022. Consider, appraisals this year will be using data from the already insane market of 2021 and many will still fall below contract. Most important, buyers and sellers should QUALIFY THEIR AGENT.

Contracts 98

Contracts Appraisal Sellers Buyers 98

Housing Wire

OCTOBER 12, 2022

It’s no coincidence that the post-2008 crisis mortgage expansion happened to occur during a period marked by transformative technological change in the industry. Most people outside of the mortgage industry are not even aware that one of the largest mergers between mortgage technology firms is on the verge of taking place.

Mortgage 409

Mortgage Technology Business Contracts 409

Housing Wire

JANUARY 3, 2023

“Pending home sales recorded the second-lowest monthly reading in 20 years as interest rates , which climbed at one of the fastest paces on record this year, drastically cut into the number of contract signings to buy a home,” Lawrence Yun, NAR’s chief economist, said in a statement. On a month over month basis, all four of the major U.S.

Contracts 500

Contracts Housing Market Realtors Construction 500

Housing Wire

JULY 19, 2022

The Department of Housing and Urban Development said it is “looking very hard” at how to make it easier to finance small-dollar mortgages, but has yet to spell out how it will accomplish that goal. But a senior HUD official in mid-July stated the obstacles to providing small-dollar mortgages, instead of giving solutions.

Mortgage 384

Mortgage Finance Lending Development 384

Inman

FEBRUARY 5, 2024

percent decline in net new listings and a 2 percent decrease in contract signings, driven by mortgage rate fluctuations, according to HouseCanary. Despite a rise in total inventory compared to 2022 and 2023, the market is still behind historical inventory averages as sellers avoid entering a higher rate environment.

New Listings 166

New Listings Contracts Inventory Real Estate 166

Housing Wire

NOVEMBER 23, 2022

Mortgage rates for a 30-year fixed-rate loan are hovering around 7% levels and still-high home prices are slashing purchasing power. What helped Erica Davis, a loan originator at Guild Mortgage , in the current high-rate environment is a seller-funded temporary 2-1 rate buydown. It’s a terrible time for homebuyers.

Buyers 473

Buyers Marketing Sellers Loan Officers 473

Housing Wire

OCTOBER 28, 2022

An index of 100 is equal to the level of contract activity in 2001. The Federal Reserve has had to drastically raise interest rates to quell inflation, which has resulted in far fewer buyers and even fewer sellers.”. or lower mortgage rate they locked in at. or lower mortgage rate they locked in at. All four major U.S.

Contracts 525

Contracts New Listings Realtors Housing Market 525

Housing Wire

NOVEMBER 17, 2023

Sellers cut prices or offered concessions to get to the closing table. Meanwhile, about one-third of sellers offered concessions, such as money for repairs, closing costs and/or mortgage-rate buydowns. Since late October, mortgage rates have fallen slightly, spurring an uptick in buyer demand. month-over-month increase.

Buyers 421

Buyers Sellers Contracts Mortgage 421

Housing Wire

OCTOBER 13, 2022

In the reflection, a mortgage executive sees faint images of the savings and loan crisis of the 1980s and 1990s. The financial chaos that sparked the savings and loan crisis of the 1980s, leading to a government bailout, now haunts the independent mortgage banking market this Halloween season — and beyond.

Mortgage 370

Mortgage Marketing Buyers Sellers 370

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.

Real Estate Agent 450

Real Estate Agent Real Estate Buyers Agents 450

Housing Wire

NOVEMBER 21, 2023

Elevated mortgage rates and high home prices pushed sales of existing homes down again in October to the lowest monthly pace since August 2010. Homes typically go under contract a month or two before the closing, which means the October data largely reflects purchase decisions made in August and September. from October 2022’s $378,800.

Inventory 410

Inventory Realtors New Listings Contracts 410

Housing Wire

APRIL 22, 2024

As a seller I want an opportunity to get as much from this earn out as I can and as a purchaser, if the market declines further, I don’t want the burden of a payment,” Murray said. However, before firms can begin to dive into the financial side of the deal, prospective buyers and sellers must figure out if they are a match.

Brokerage 436

Brokerage Real Estate Agents Sellers 436

Housing Wire

JANUARY 8, 2021

As we think about coming out of this first month of the year, we’ve quickly realized this year is going to be anything but planned or what we in the mortgage lending industry are used to. But for others, low mortgage rates gave way to pre-approved borrowers struggling in a very competitive seller’s market.

Lending 450

Lending Mortgage Inventory Business 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.

Sellers 65

Sellers Realtors Buyers Inventory 65

Housing Wire

APRIL 29, 2024

It’s still April, so there could be as many as eight more weeks of seller growth in the spring housing market. And seller growth is happening pretty much everywhere across the country, with Florida and Texas leading the way. The bearish take is that there are many more sellers than buyers and inventory is rising. orate further?

Sellers 495

Sellers Marketing Inventory Contracts 495

Housing Wire

NOVEMBER 28, 2023

Home prices rallied in September, as homebuyers still outnumbered sellers. Mortgage rates climbed over the period, reaching 7.3% The Case-Shiller index measures repeat sales data and reflects a three-month moving average, meaning that it tracks homes that went into contract in July, August and September. Home prices posted a 3.9%

New Listings 417

New Listings Contracts Inventory Sellers 417

Will Springer Realtor

MAY 2, 2023

They have safeguards built in to written agreements such as a purchase contract on a home. These are known as contingencies, or conditions, that require the buyer or seller to take an action or possibly a non-action as part of the overall agreement. This person represents the best interests of the mortgage company.

Contracts 54

Contracts Buyers HOA Inspection 54

Housing Wire

MARCH 20, 2024

In recent years, Zillow also launched segments for rental listings and mortgage origination; it briefly operated an instant buying segment, now shuttered. “We do not have long-term contracts with many of our real estate partners,” the materials read. Zillow declined to comment on recent stock price movements.

Investors 458

Investors Agents Real Estate Buyers 458

Housing Wire

MARCH 27, 2023

But with the tech sector in turmoil, a looming recession, and consistently elevated mortgage rates, that trend is now making an about-face. In addition, just 16% of the homes in Austin went under contract within two weeks of hitting the market. Sellers are locked in because they can’t justify giving up a 2.9%

Housing Market 384

Housing Market Marketing Contracts Buyers 384

Housing Wire

AUGUST 27, 2020

in July, the third consecutive month of gains, fueled by low mortgage rates and unprecedented demand from consumers. The seasonally-adjusted index measuring signed contracts was up 15.5% Home sellers are seeing their homes go under contract in record time, with nine new contracts for every 10 new listings.”.

Contracts 485

Contracts Realtors New Listings Real Estate 485

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.

Mortgage 450

Mortgage Buyers Loan Officers Sellers 450

Housing Wire

MAY 4, 2023

On the one hand, elevated mortgage rates continue to erode buyers’ purchasing power, and in some markets, home prices are falling. Sales and new pending contracts are below pre-pandemic levels. Bright MLS’ recent survey showed that sellers in the Mid-Atlantic received an average of 3.4 Mortgage rate fatigue.

Housing Market 421

Housing Market Marketing Inventory Buyers 421

McKissock

AUGUST 13, 2021

Why must an appraiser be given a copy of the sales contract? Secondly, the appraiser is likely familiar with the local real estate contract forms, customary terms, and conditions of real estate transactions in the area, and might be able to identify irregularities and comment on them. When should we analyze the contract?

Contracts 64

Contracts Appraisal Market Value Real Estate 64

Housing Wire

FEBRUARY 9, 2023

Northpointe Bank , a regional bank headquartered in Michigan, will walk away from its correspondent lending business to focus on its retail lending, mortgage warehouse financing division and specialty loan servicing business. Northpointe was the 24th largest correspondent lender , according to Inside Mortgage Finance.

Lending 384

Lending Business Retail Client Relationships 384

Housing Wire

DECEMBER 15, 2021

Mortgage applications fell 4% for the week ending Dec. 10, large part because fewer borrowers are looking to refi their exiting mortgages, according to the Mortgage Bankers Association (MBA) survey published on Wednesday. Compared to a year ago, mortgage applications declined across the board. from the week prior.

Inventory 410

Inventory Contracts Government Mortgage 410

Housing Wire

NOVEMBER 7, 2023

Offer them solutions to get a better-than-average mortgage rate. You don’t have to know as much as your competent mortgage lender does, but you should be able to competently discuss options, such as rate buy-downs, adjustable-rate mortgages and how to pay points to lock in a lower rate on a 30-year fixed mortgage.

Clients 431

Clients Buyers Real Estate Agent Real Estate 431

Housing Wire

DECEMBER 16, 2022

The last year has been a completely split housing market — one that started with the lowest inventory NAR has recorded dating back to 1999 and one with low mortgage rates. The market has now faced a contraction in existing-homes sales for nine consecutive months, while home prices and rates rise.

Buyers 479

Buyers Realtors Inventory Sellers 479