Thu.Mar 16, 2023

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Big banks to rescue First Republic with $30B in deposits 

Housing Wire

A group of 11 U.S. banks has agreed to make $30 billion in deposits at First Republic Bank to avoid another regional bank failure. The rescue comes after Silvergate Bank , Silicon Valley Bank and Signature Bank collapsed amid a liquidity crisis caused by a deposit run. “Today, 11 banks announced $30 billion in deposits into First Republic Bank.

Insurance 437
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Anywhere CEO sees opportunities, advantages of scale

Real Estate News

Ryan Schneider, leader of one of the largest real estate enterprises, believes the company will benefit from continued investments, even in a downturn.

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The mortgage industry doesn’t want the DTI LLPA fee delayed. They want it killed

Housing Wire

The Federal Housing Finance Agency ’s (FHFA’s) decision to delay implementing the controversial upfront fee on Fannie Mae and Freddie Mac borrowers with higher debt-to-income (DTI) ratios gave mortgage lenders a breather. The agency postponed the implementation of the fee to August 1, and it also said lenders will not be subject to post-purchase price adjustments on any loans acquired Fannie Mae and Freddie Mac this year.

Mortgage 383
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Real posts net loss for 2022 but sees a turnaround coming

Real Estate News

Despite a challenging real estate market, CEO Tamir Poleg expects the company’s EBITDA to turn positive in the second half of 2023.

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Mortgage rates declined amid banks failures. What’s next?

Housing Wire

After increasing steadily for over a month, mortgage rates fell last week following a deposit run that provoked a liquidity crisis in regional U.S. financial institutions — and resulted in the failures of Silicon Valley Bank and Signature Bank. But what is there to expect ahead for the housing market? Industry observers said that, at least in the short term, mortgage rate declines will support home prices but lead to a better outlook for the spring season.

Mortgage 383
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After a topsy-turvy week, mortgage rates drop

Real Estate News

In the wake of turbulence in the banking sector, the 30-year fixed-rate mortgage fell to 6.6%, down from 6.73% a week ago.

Mortgage 251

More Trending

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Coldwell Banker latest brokerage to settle in wake of ‘Newsday’ exposé

Inman

Coldwell Banker agents subjected prospective homebuyers of color to different requirements than white homebuyers, according to the Office of the New York State Attorney General.

Brokerage 161
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CFPB launches inquiry into data brokerage business practices

Housing Wire

The Consumer Financial Protection Bureau (CFPB) announced this week that it is launching an inquiry into the business practices of data brokerage firms to learn whether their impact on consumers can inform planned rulemaking under the Fair Credit Reporting Act (FCRA). In its request for information (RFI), the CFPB is attempting to learn the full scope of data brokers, their business practices, the potential impacts on the daily lives of consumers and whether they are all operating on the same se

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Redfin Premier expands nationally to more than 100 new markets

Inman

Redfin Premier, which matches luxury homebuyers and sellers with a Redfin Premier agent and marketing tools specific to the luxury brand, is launching in every market the brokerage operates.

Marketing 155
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NAR Hosts Policy Forum on the Current Housing Market and Affordability

National Association of Realtors

The National Association of Realtors® hosted a policy forum on March 16, 2023 entitled The Current Housing Market: Implications for Home Buyers and the Economy at the Capital Hilton in Washington, D.C.

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3 things Netflix, Airbnb and Google do (that most leaders don’t)

Inman

Good leadership is often the difference between a thriving business and a failing one. A great leader cares about their people and prioritizes their needs to ensure a happy and productive work environment.

Business 148
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What Is A Rent Ledger And Why Do You Need One?

BiggerPockets

Managing rental properties is a complex task, especially when it comes to keeping track of which tenants are paying on time and who has outstanding balances.

Tenants 54
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Watch Now: iBuying, positioning your brand and winning listings

Inman

The newest Inman Access classes are live! Watch experts discuss the latest iBuying trends, mastering branding and positioning, and tactics to secure listings in a competitive market.

Marketing 148
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Housing market optimism on the rise in every demographic, survey suggests

Mortgagebroker News

New poll also shows greater buying and selling intentions among Canadian adults

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LISTEN: It’s not too late to advocate for affordable housing

Inman

Have we reached the point of no return when it comes to affordable housing? Dr. Lee Davenport and her guest, Georgia State University's Dr. Dan Immergluck, discuss the peril and possibilities.

Agents 148
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Banking crisis: Could there be an upside for Canadian borrowers?

Mortgagebroker News

Five-year Government of Canada bond yields have plunged in recent days

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How scary is a contagion? Imagine if everyone sold their house at once

Inman

Could a contagion hit real estate? Not now, Inman founder Brad Inman writes. But cavalier lending, greed and bad actors can all wreak havoc on the housing market.

Lending 155
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BMO: Canadian housing activity, prices could soon bottom out

Mortgagebroker News

The central bank's rate freeze might support a market resurgence

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As losses mount, Blend looks beyond mortgage for future growth

Inman

The San Francisco-based cloud banking software provider has trimmed the company's payroll by 1,100 employees and cut annual expenses by $72 million.

Mortgage 154
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Where are the best urban housing markets for first-time buyers?

Mortgagebroker News

New poll reveals the most affordable urban markets in Canada

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7 reasons agents are failing (and how to avoid their mistakes)

Inman

The current real estate market separates the best from the rest. Jimmy Burgess shares how to avoid the biggest mistakes agents are making right now.

Agents 148
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Exec on key elements to the broker-lender relationship

Mortgagebroker News

"You have to trust and let them do what they do"

67
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Broker Spotlight: Ida Schwartz, Compass Florida

Inman

Find out how this luxury broker made the move from banking to stay-at-home mom to real estate (Hint: It started with an open house).

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How Much Should I Increase Rent Every Year?

BiggerPockets

Knowing how much to raise yearly rent can be tricky for landlords. On the one hand, you must cover your expenses like property taxes, utilities, mortgage interest, and repairs.

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Join us for an unforgettable night at the Canadian Mortgage Awards 2023

Mortgagebroker News

The Canadian Mortgage Awards are back for its 17th year

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SVB’s Collapse: Is Real Estate at Risk in The Fallout?

BiggerPockets

SVB’s (Silicon Valley Bank) collapse has more to do with the housing market than you think.

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Blend focuses on tech, cost reduction as it reports $769M loss

Housing Wire

California mortgage tech firm Blend Labs is focused on cutting costs and courting more users to its Blend Builder platform. The goal is to bring the firm to profitability after posting a net loss of $768.6 million in 2022. Blend’s net loss last year is more than four times the $171.3 million loss it incurred in 2021. The mortgage tech company reported an $82.1 million loss in the fourth quarter of last year, an increase of 13% compared to the third quarter of 2021, when the company posted a net

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SVB’s Risky Bailout and The Bank Run “Domino Effect”

BiggerPockets

Both SVB (Silicon Valley Bank) and Signature Bank have crashed and burned dramatically over the past week.

51
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Latest housing starts data is good for mortgage rates

Housing Wire

How is today’s housing starts data , which beat expectations, good for mortgage rates ? Typically good economic data is bad for rates, especially in this environment, when a Fed member will come out and say building or buying homes is bad for fighting inflation. The answer is simple: The best way to fight inflation long-term is to add more supply. Destroying demand is a short-term fix, but longer-term supply is the natural economic way.

Mortgage 512
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SVB’s Risky Bailout and The Bank Run “Domino Effect”

BiggerPockets

Both SVB (Silicon Valley Bank) and Signature Bank have crashed and burned dramatically over the past week.

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Housing starts increase to meet rising buyer demand

Housing Wire

After pulling back at the start of the year , homebuilders jumped back in during February as homebuyer demand and builder confidence trended upward. Homes were started at an estimated annual pace of 1.45 million in February, up 9.8% month over month, according to a report released Thursday by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development (HUD).

Buyers 417
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Trulia Vs. Zillow Comparison: What’s the Difference?

BiggerPockets

Trulia and Zillow are two of the most popular real estate websites. Both property websites list homes to sell, buy, or rent.

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First Republic Bank is reportedly exploring sale: Bloomberg

Housing Wire

First Republic Bank , the fourth-largest non-agency jumbo lender in America, is exploring strategic options, including a sale and a capital infusion, and is expected to attract interest from larger rivals, Bloomberg reported on Wednesday, citing anonymous sources with knowledge of the matter. No decision has been made, and the bank can remain independent, people who requested anonymity for discussing confidential information said.

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Multifamily construction delivers boost to housing starts in February

Inman

Apartment building construction soared 24 percent in February, lifting new housing starts overall despite a weak month for single-family builds, according to data released Thursday by the U.S. Census Bureau.