Thu.May 16, 2024

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UWM cuts out title insurer with updated TRAC+ program, rolls out 0% down purchase initiative

Housing Wire

United Wholesale Mortgage (UWM) has launched a new service to handle all the title work for its brokers on refinancings. As a result, brokers no longer need to deal with a title company or settlement agent to close a refi. The top U.S. mortgage lender announced the service on Thursday during an annual meeting with its broker partners in Pontiac, Michigan.

Insurance 450
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Freddie Mac: Mortgage Rates Decrease for a Second Consecutive Week

Appraisal Buzz

The average rate for a 30-year fixed-rate mortgage fell to 7.02% this week, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS). A year ago at this time, the average rate for a 30-year was 6.39%. “Mortgage rates decreased for the second consecutive week,” says Sam Khater, chief economist for Freddie Mac, in a release. “Given the news that inflation eased slightly, the 10-year Treasury yield dipped, leading to lower mortgage rates.

Mortgage 195
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California leads all states for highest bankruptcy risk to seniors

Housing Wire

Across all states, California poses the highest risk of bankruptcy for Americans ages 65 and older, according to a study released by personal finance website Moneywise. The study analyzed 11 factors to determine which states put elderly U.S. citizens at the greatest risk of bankruptcy. It determined each state’s risk of bankruptcy by assigning a risk score on a scale of 100 based on factors like poverty rates, debt-to-income ratios, health care expenses and overall cost of living.

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Snapdocs’ eVault and SitusAMC’s ProMerit Now Integrated

Appraisal Buzz

Snapdocs eVault is now integrated with SitusAMC ’s ProMerit platform, allowing warehouse lenders to manage e-note transactions seamlessly and securely from within their warehouse lending system of record. “Today, e-note adoption by mortgage originators is just under 10 percent, and projections indicate it will reach nearly 30 percent of all new loan originations within a few years,” says Camelia Martin, vice president of e-mortgage strategy at Snapdocs, in a release.

Lending 195
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RealReports enhances property document analysis with new multimodal AI feature

Housing Wire

Proptech firm RealReports unveiled a new feature for its AI-powered assistant, Aiden, the company announced on Thursday. The new feature harnesses the capabilities of multimodal artificial intelligence to instantly analyze and summarize complex property documents, including inspection reports, appraisals and seller disclosures. Multimodal AI technology allows advanced artificial intelligence systems to process and integrate various types of data inputs — including text, images and audio.

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Clever: 43 Percent of Recent Homebuyers Have Struggled to Make Mortgage Payments on Time

Appraisal Buzz

Forty-four percent of recent home buyers have had to take on additional debt to maintain their lifestyle, and 43% have struggled to make mortgage payments on time, according to Clever Real Estate’s American Home Buyer Report. Further, 47% of recent home buyers say they feel in over their head financially since purchasing their home. About 85% of buyers compromised on their priorities when purchasing a home, according to the report.

Mortgage 195

More Trending

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PIMCO is Winning Bidder on Three Pools of Reperforming Loans Auctioned by Fannie Mae

Appraisal Buzz

Pacific Investment Management Company LLC (PIMCO) is the winning bidder on three pools of reperforming mortgage loans recently auctioned by Fannie Mae. Reperforming loans are loans that have been or are currently delinquent but have reperformed for a period of time. The deal, announced on April 16, included the sale of 6,484 loans totaling $1.47 billion in unpaid principal balance (UPB).

Investing 195
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Snapdocs announces partnership with SitusAMC

Housing Wire

Digital closing provider Snapdocs is partnering with real estate technology provider SitusAMC to integrate the Snapdocs eVault to SitusAMC’s ProMerit platform, a warehouse lending technology tool, the companies announced on Thursday. This collaboration allows warehouse lenders to seamlessly and securely manage eNote transactions within their warehouse lending system of record.

Lending 429
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CoStar CEO says competitors are ‘going to adopt our model’

Real Estate News

Will Homes.com sell buyer agent leads? “Never,” says Andy Florance, who believes all the portals will eventually move to “your listing, your lead.

Agents 248
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HECM program study assesses policy impacts of recent years

Housing Wire

A study commissioned by the U.S. Department of Housing and Urban Development (HUD) Office of Policy Development and Research (PD&R) in 2022 aimed to assess the state of the Home Equity Conversion Mortgage (HECM) program over a 20-year period. The study, commissioned by the HUD PD&R and compiled by analytics firm SP Group LLC and its subcontractor Econometrica Inc. , assessed three separate elements of the HECM program’s effectiveness from 2000 to 2020 — including borrower impacts, financ

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‘More wiggle room’ for buyers as rates, supply show promise

Real Estate News

Squint and you can see a bright side as housing starts bounce back and mortgage rates drop a bit (but stubbornly stay above 7%).

Buyers 265
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Christy Budnick out, Gino Blefari in as HomeServices undergoes C-suite changes

Housing Wire

Just weeks after announcing it reached a nationwide settlement agreement in the commission lawsuits , HomeServices of America is undergoing some major changes to its leadership team. Last week, Christy Budnick announced that she will be stepping down as CEO of HSF Affiliates , the franchisor of Berkshire Hathaway HomeServices , effective June 3. In a message to network leaders that was obtained by HousingWire , Budnick stated, “The last three years have been the best of my professional car

Realty 414
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'Unfiltered' podcast: MLS CEO talks tech, settlement pros and cons

Real Estate News

Watch the conversation with NorthstarMLS’s Tim Dain as he discusses how technology can work better for agents, and the not-so-simple outcomes of the NAR deal.

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Grounding the Static: Fast-Forward from Concept to Execution for Amazing Results

Housing Wire

Open the door to the most powerful room in housing. Join us at The Gathering 2025 in Denver, CO, June 8-11. Go here to lock in special pricing with your registration. One of the first articles HousingWire Lead Analyst Logan Mohtashami wrote this year was titled, “The savagely unhealthy housing market is over.” That was back in February. Then, just three months later, he posed the question, “Is the savagely unhealthy housing market back?

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People on the Move: A C-suite shakeup at HomeServices of America

Real Estate News

Christy Budnick is out after three years as HSF Affiliates CEO; Gino Blefari to take on dual CEO roles. Plus, a new VP of operations at United.

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Study: Listings on Bright MLS show $54,000 benefit for sellers compared to off-MLS

Housing Wire

With the latest industry turmoil around compensation, steering and more due to lawsuits and the investigation by the Department of Justice , those outside the housing industry would assume the benefit to listing a home on the MLS would be negligible. They would be wrong. The MLS is crucial for home sellers , even in a strong seller’s market, as it provides significant financial benefits and access to more potential buyers, according to a recent study by Bright MLS called “On-MLS Stud

Sellers 414
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What should I tell clients? Question leads to free-for-all at NAR midyear

Inman

May 6 remarks from Anthony Lamacchia spurred at least one NAR midyear attendee to leave the MLS Forum in protest, others to hurl steering accusations, and NAR's senior counsel to intervene.

Clients 187
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Mr. Cooper’s CIO on deploying AI for the biggest wins

Housing Wire

Editor in Chief Sarah Wheeler sat down with Sridhar Sharma, executive vice president and chief information officer at Mr. Cooper , to talk about how the company is using machine learning and artificial intelligence to increase productivity while making their customers happier. Sarah Wheeler: You came into the mortgage space about nine years ago after leading teams at NTT Data and Infosys.

Training 332
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Marketing listings through qualified buyer financing options

Inman

For real estate agents, highlighting diverse financing options is one of the easiest ways to attract more traffic to their listings. Clever's Luke Babich shares a few programs and options to know about.

Finance 167
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Should You Renovate Before Selling?

Empire Appraisal Group

Should You Renovate Before Selling? Before launching renovation projects to sell a home, consider the cost benefits. Look at your home as if you were buying it and decide if it’s turnkey. NEW YORK – When selling your house, one of the most common things to worry about is whether you should renovate the home before listing it. Sadly, the answer isn’t as straightforward as you might think — several variables can influence your decision, and it’s essential to do your research.

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How to engage brokerage clients through SEO and content creation

Inman

Unique, engaging and highly specific content can make you a trusted resource for buyers and sellers locally and regionally, Chicago broker David Marden writes.

Clients 180
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Low Appraisals – 6 Options When Appraisals Come In Low

JMV Lending

Whenever an appraisal comes in under contract price, we work quickly to consider all options with both agents and buyers, and we can usually resolve appraisal issues within a day if everyone is responsive. The post Low Appraisals – 6 Options When Appraisals Come In Low appeared first on JVM Lending.

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Meet Alex 4o: The new, powerful AI business partner agents need

Inman

The rollout of the latest iteration of ChatGPT, calling itself Alex 4o, allows you and your business to do more than you ever thought possible. Author and trainer Bernice Ross shares the latest enhancements.

Business 167
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Spring housing market: How can mortgage brokers best advise clients?

Mortgagebroker News

Affordability concerns are continuing for many buyers and borrowers

Clients 72
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SERHANT. snags sales of NYC new development from The Agency

Inman

The Agency repped the building’s sales for one year before SERHANT. stepped in to take the reins on the 21-unit UWS boutique luxury residence known as 'Fifteen.

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KV Capital invests in Nelson Lumber to boost real estate development

Mortgagebroker News

Partnership aims to enhance building material supply chain amidst housing slowdown

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S&S Christie’s International Real Estate launches in Vietnam

Inman

S&S Christie's International Real Estate, was born through a collaboration with S&S Group, a conglomerate of ultra-luxury companies that span the automotive, timepiece, fashion, art and, now, real estate sectors. Their first office will open in Saigon in June.

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Stop Paying Someone Else’s Mortgage: Beginner Steps to Buy Your FIRST Home

BiggerPockets

Are you tired of paying someone else’s mortgage? Then you’re in the right place.

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A Bay Harbor Island home in Miami sets new $21.95M sales record

Inman

Shock-Gard CEO Matthew Bullock and his wife are the buyers of the spec home. The sale bests a previous record set last month by Brazilian race car driver Claudio Dahruj's home purchase.

Buyers 176
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BiggerNews: Real Estate vs. Stocks, the Ultimate Wealth-Building Debate

BiggerPockets

Which will make you richer: real estate vs. stocks?

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UWM’s controversial mortgage site now an official NBA partner

Inman

Lawsuit alleges search results on Mortgage Matchup are "designed to steer borrowers to brokers who funnel nearly all their business to UWM, regardless of whether UWM offers the most competitive loan terms.

Mortgage 170
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Sarah Hatch, VP of Relocation, Lamacchia Realty Featured in RISMedia News

Lamacchia Realty

May 16, 2024 – Sarah Hatch, VP of Relocation for Lamacchia Realty, was featured in RISMedia News in their article, “ Nurturing Partnerships and Driving Business Growth.” In the article, they address Sarah’s methodology for working with Business to Business Relocation vendors and expanding Lamacchia Realty’s network. “I’ve found that the most important thing is to learn how someone works and then cater to that—asking them how they want something done and antici

Realty 41
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Broker Spotlight: Seth Kaufman, ONE Sotheby’s International Realty

Inman

Find out how this chief sales officer oversees operations for 1,300+ agents and 10 managing brokers across 32 offices along the east coast of Florida.

Realty 167
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FI by 25: How to Buy Time and Freedom with a Few Years of Frugal Living

BiggerPockets

Financial independence by the age of twenty-five?!

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