Tue.Aug 01, 2023

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Mr. Cooper moves closer to $1 trillion MSR portfolio target

Housing Wire

Dallas, Texas-based Mr. Cooper Group on Tuesday announced it has completed the acquisitions of Home Point Capital and Roosevelt Management Company. With the deals, Mr. Cooper has moved closer to its $1 trillion mortgage servicing rights (MSR) portfolio target. Mr. Cooper concluded on Monday a tender offer for Home Point’s outstanding shares after extending the deadline twice.

Investors 370
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Bloomberg Surveillance 8-1-23: The Pandemic Wiped Out Housing Inventory: Miller

Miller Samuel

I always have great conversations with Lisa Abramowicz, an anchor on Bloomberg Television's Bloomberg Surveillance. The TV clip captures about half the conversation. For the my full interview , check out the Bloomberg Surveillance Podcast. Jonathan Miller, Miller Samuel President & CEO, says housing prices have leveled off. The post Bloomberg Surveillance 8-1-23: The Pandemic Wiped Out Housing Inventory: Miller first appeared on Miller Samuel Real Estate Appraisers & Consultants.

Inventory 195
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Introducing the 2023 Women of Influence!

Housing Wire

This year’s HousingWire Women of Influence list recognizes a remarkable group of women in housing who represent the pinnacle of excellence and innovation. These extraordinary women have shattered glass ceilings, defied expectations and carved a path of success through their dedication, expertise and unwavering commitment to transforming the housing landscape.

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Zillow-Redfin build on partnership with new construction listings

Real Estate News

The two former rivals and popular home-search sites extend their connection beyond 3D Home, with Redfin calling Zillow listings “a new revenue opportunity.

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Rocket goes local: Testing the waters or shifting its strategy? 

Housing Wire

When the Federal Reserve slashed interest rates to zero on March 15, 2020 and set off an extraordinary real estate boom, Rocket Mortgage was ready. The Detroit-based lender’s unmatched combination of name recognition, digital infrastructure and consumer technology enabled it to originate more than $670 billion in mortgages in 2020 and 2021, smashing records in the process.

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People On the Move at OJO, @properties

Real Estate News

OJO promotes former KW CEO Chris Heller and Jerimiah Taylor to top roles; @properties elevates Branden Lopez to general counsel.

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One Step Closer to Owning a Business

The Appraiser Coach

One day while I was at the local state fair, I saw a one-man band walking by.

Business 195
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Fintech Stavvy acquires servicing tech firm Brace

Housing Wire

Stavvy , a fintech company specializing in digital and remote collaboration for lending and real estate companies, acquired Brace , a digital mortgage servicing platform. Terms of the deal were not announced. With the acquisition, servicers and homeowners looking for mortgage assistance will have access to a streamlined platform that allows them to interact on their terms, fostering increased transparency and improved operational efficiencies, Stavvy said on Tuesday announcing the deal.

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HELOCs now a riskier proposition for investors

Real Estate News

High interest rates and economic uncertainty have made home equity lines of credit costlier and more precarious.

Investors 189
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HousingWire Magazine: The Housing Wealth Issue

Housing Wire

Brena Nath, Director of HW+ and Events Leading up to this issue, I’ve been building the Women of Influence panels for October’s HousingWire Annual in Austin, Texas. One of my biggest takeaways in planning and hosting dedicated Women of Influence sessions at our flag-ship event is that these sessions are for every-one. And, reading through this year’s esteemed list of women explains why.

Business 368
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Timothy Di Prizito joins AKG | Christie’s International Real Estate

Inman

The former GM of Joyce Rey's team at Coldwell Banker said he is ready to spread his wings and likes what he sees when it comes to Aaron Kirman's success in growing his team, Di Prizito exclusively told Inman.

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Rachel Swann’s top performing team jumps to Coldwell Banker

Housing Wire

The Swann Group , led by Rachel Swann, has joined Coldwell Banker Realty in Northern California from Compass. The five-person team is known for its luxury property business in San Francisco and in Northern California’s wine country. Swann’s team closed $101 million in sales volume in 2022, according to America’s Best Real Estate Professionals ranking on RealTrends.

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FOMO Alert: 74 things to expect next week at Connect Las Vegas

Inman

With Inman Connect Las Vegas rapidly approaching, Inman founder Brad Inman offers his notes, compiled over two decades, on what attendees should expect at this year's conference next week.

Brokerage 148
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Multifamily lending declined 1% between 2021-22: MBA

Housing Wire

More than 2,200 different multifamily lenders provided $480.1 billion in new mortgages for apartment buildings with five or more units in 2022, a reduction of around 1% when compared to 2021 levels. This is according to an annual report of the multifamily lending market compiled and released by the Mortgage Bankers Association (MBA). One-third of active multifamily lenders made five or fewer loans over the course of 2022, according to MBA.

Lending 362
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Construction Job Openings Little Changed

Eyes on Housing

The count of open, unfilled jobs for the overall economy continued to moved lower in June, falling to 9.6 million. While ongoing tight labor market conditions have raised the likelihood of a September Federal Reserve interest rate increase, the JOLTS survey is another data point indicating an ongoing but gradual cooling of macro conditions due to elevated interest rates.

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Schmidt Family of Companies acquires Palm Coast Coldwell Banker

Housing Wire

The Schmidt Family of Companies , the parent company of Coldwell Banker Premier Properties , has announced its market expansion in Florida through the strategic acquisition of a sales office in Palm Coast. The acquisition involves the Palm Coast office from Coldwell Banker Realty in Florida. Situated in the Hammock Beach Resort, the office currently comprises approximately 40 independent real estate agents.

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5 ways to invest in your most important asset: Yourself

Inman

Whether you are just getting started in real estate or are looking for ways to freshen up your career with a commitment to personal and professional development, investing in yourself is always a good bet, according to new Inman contributor Tina Lapp, head of local brands for Colibri Real Estate.

Investing 148
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How to best serve multigenerational homebuyers

Housing Wire

Finding a dream home for your buyers can be difficult in a market plagued by low inventory and high demand. So what do you do when your buyers include more than a couple looking for their starter home or a growing family looking to raise their children? Throwing grandparents, adult siblings or in-laws into the mix can create a daunting challenge for real estate agents.

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How to Read a Home Appraisal

Chicagoland Appraisal Blog

Reading a home appraisal might feel overwhelming at first, but worry not! This guide is here to simplify the process. While each appraisal may have slight variations, the following structure offers a general roadmap to help you smoothly navigate through it. The key is to approach it in a linear manner, starting from page 1 and following the logical flow.

Appraisal 148
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June Gains in Private Residential Construction Spending

Eyes on Housing

NAHB analysis of Census Construction Spending data shows that private residential construction spending rose 0.9% in June after an increase of 2.9% in May. Spending stood at a seasonally adjusted annual pace of $856.3 billion. However, total private residential construction spending is still 10.4%% lower compared to a year ago. The total construction monthly increase is largely attributed to more.

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Got milk? Thirsty agent fined $15K for drinking homesellers’ milk

Inman

Mike Rose told Canadian regulators in British Columbia he was on a new medication that made him "unusually dehydrated." But does that justify drinking his clients' milk, straight from the jug?

Agents 148
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The Ultimate 2023 Houston Neighborhood Guide

Houston Properties

Houston Neighborhoods - Updated 2023: Houston zip code map, neighborhood maps, homes for sale pictures & overview of the best Houston neighborhoods.

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Chamber of Commerce goes to bat for NAR in face of ‘unfair’ DOJ probe

Inman

In a "friend of the court" brief, the Chamber said the government should have to keep its promise to not investigate the National Association of Realtors' commission and pocket listing policies.

Realtors 147
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Facing the storm: A journey with cancer in the mortgage industry

Mortgagebroker News

The Collective Mortgage Group's Christine Buemann on navigating a health crisis that put life – and mortgages – in perspective

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Fractional investing platform CEO out after investors lose $63M

Inman

CrowdStreet CEO Tore Steen ousted after $63 million from investors went missing in a deal a fiduciary said had "red flags that are indicators of fraud," according to reports.

Investors 148
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Top 5 Build-to-Rent Housing Markets for Cash Flow and Appreciation in 2023

BiggerPockets

These markets are the best build-to-rent markets in the U.S. for cash flow and appreciation. See where you should invest here!

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Engel & Völkers adds 9 shops with SoCal partnership

Inman

Through the agreement with Dilbeck Real Estate, Dilbeck offices will adopt the E&V name and license partner Paul Benson will gain a new ownership stake in the business, Inman has exclusively learned.

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How Much Power Do Appraisers Have Over Home Value?

National Association of Realtors

The answer to who can set market value involves buyers, sellers—and the very definition of “value.

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New SDAR CEO taking embezzlement suit ‘seriously’

Inman

Cory Shepard took the reins at the San Diego Association of Realtors last week after now-former CEO Michael Mercurio was accused of stealing over $1M in association funds, the complaint reads. Four former executives filed the case against SDAR last week.

Realtors 145
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Foreign buyer ban significantly dragging down luxury market, report says

Mortgagebroker News

High-net-worth individuals are discouraged from investing in the Canadian housing market

Buyers 69
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Henry Horn Group decamps for Compass in bid to build luxury biz

Inman

Rebranded as HHG | Compass, the 12-agent team hails from Corona Del Mar, California-based luxury brokerage Residential Agent, Inc. with operations spanning San Francisco to Los Angeles.

Brokerage 145
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Residential building costs increase for second straight quarter: StatCan

Mortgagebroker News

Cost growth was the strongest in Toronto, says the national statistics agency

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Arizona Realtors can stay hot with new DirectOffer partnership

Inman

This is the second such partnership the real estate technology company has secured lately, having also agreed to work with the Realtor Association of Metropolitan Pittsburg, DirectOffer said.

Realtors 144
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The Fed’s Next Move and When Rates Will Drop | Ask Meyer Anything

BiggerPockets

Could mortgage rates fall in 2024? And if so, how low will they go? What happens if home prices rise; could the Fed make things even harder for buyers?

Buyers 49