Thu.Feb 02, 2023

article thumbnail

Hawkish Fed couldn’t curb market optimism — and mortgage rates tumbled 

Housing Wire

The Federal Reserve Chairman Jerome Powell maintained a hawkish tone during his speech at a press conference on Wednesday afternoon — but it wasn’t hawkish enough to keep optimism from spreading across the markets as mortgage rates dropped closer to 6%. “Inflation remains well above our longer-run goal of 2% over the 12 months ending in December: total PCE prices rose 5%; excluding the volatile food and energy categories, prices rose 4.4%,” Powell told journalists. “While recen

Mortgage 403
article thumbnail

SERHANT. says goodbye to top broker Tamir Shemesh

Inman

The motivation for Shemesh's termination was not immediately known and came just over one year after Shemesh and his four-person team moved to SERHANT. from Douglas Elliman.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

ICE Mortgage Technology is betting on increased sales for 2023

Housing Wire

Intercontinental Exchange (ICE) Mortgage Technology reported operating income of $57 million in 2022, down from last year’s $397 million — a reflection of the headwinds the mortgage industry is facing. The silver lining for the business was the strong sales in its Encompass loan origination software system in the fourth quarter, executives said in its latest earnings call on Thursday.

article thumbnail

Court refuses Gary Keller’s request to merge John Davis lawsuits

Inman

A fraud lawsuit filed by Davis against Keller, Keller Williams and Josh Team will continue separately from a sexual misconduct suit filed by Inga Dow against Davis, Keller, and KW.

Brokerage 154
article thumbnail

Apex Home Loans names Leo Anzoleaga as SVP of residential lending

Housing Wire

Maryland-based mortgage lender Apex Home Loans has appointed Leo Anzoleaga as its senior vice president of residential lending. In his new role, Anzoleaga will be tasked with generating more residential mortgage business, fostering business partnerships and improving customer experience. “What I’m most excited about in joining Apex is the opportunity to work with not only an industry leader, but also how Apex and I share the same vision around building community, cultivating an excellent team, a

Lending 388
article thumbnail

Rogers Healy pulls from Compass to hire first director of operations

Inman

The independent brokerage has hired Diyanna Ahuja to lead its team of more than 500 agents, who brings 2 decades of experience in luxury retail operations and real estate to the role.

Brokerage 155

More Trending

article thumbnail

M. Ryan Gorman breaks silence on Coldwell Banker ‘termination’

Inman

In a Medium post published on Thursday, Gorman promised to lead by example with a shift into affordable housing projects while revealing new details about his departure from Coldwell.

Brokerage 155
article thumbnail

Tenant in Distress… What Would You Do?

Appraiserblogs

These situations apparently caused a severe depression to engulf the tenant. Appraisers, last week I received a call from an appraiser who was very upset about an encounter at the Subject dwelling, within city limits, not long before, and wanted to know ‘what to do.’ The appraiser scheduled an inspection for a dwelling being sold, and uses a ‘MLS Key’ for entry to homes with a lockbox, without having an agent present.

Tenants 98
article thumbnail

Does the commission lawsuit spell the end for NAR? The Real Word

Inman

This week, Byron Lazine and Nicole White are talking about year-end home sales numbers, Jason Oppenheim's commission lawsuit comments, and the weekly media review Left, Middle, Right.

Agents 155
article thumbnail

Square Footage Costs Higher in Suburbs than Cities

Empire Appraisal Group

Square Footage Costs Higher in Suburbs than Cities Source: Square Footage Costs Higher in Suburbs than Cities | Florida Realtors © Mapbox, © OSM NEWS & MEDIA © Mapbox, © OSM JANUARY 6, 2023 Share this article: Facebook Twitter LinkedIn Print Share Square Footage Costs Higher in Suburbs than Cities By Kerry Smith A fall study comparing price-per-square-foot costs found the highest increase in urban areas of Fla., notably hurricane-hit Cape Coral, North Port and Tampa.

article thumbnail

Wells Fargo lays off 140 as it backs out of correspondent mortgages

Inman

In a Worker Adjustment and Retraining Notification, the company outlined its plans to reduce its workforce size. The company began executing the plan Tuesday in Springfield, Illinois.

Mortgage 155
article thumbnail

Top Accounting Concerns & Solutions in 2023

GoForrmz

Top concerns for accounting firms in 2023 and how to navigate them As we navigate the 2023 tax season, accounting firms are facing a wide range of concerns and challenges. From cyber attacks to new tax laws, accounting firms must be prepared and proactive this tax season. In this blog post, we’ll explore the four top concerns facing accounting firms in 2023 and provide tips on how to navigate them.

Law 78
article thumbnail

What we can learn from Ana Walshe’s disappearance

Inman

A new year and yet another agent is missing. How can agents keep the conversation about safety practices for women as an ongoing conversation? Trainer Rachael Hite says women need to make safety a part of their daily routine for themselves and the ones they care about.

Agents 148
article thumbnail

Flagstar Bank adopts OrangeGrid mortgage servicing software

Housing Wire

Dallas-based mortgage servicing software provider OrangeGrid announced on Thursday that Flagstar Bank has implemented its mortgage servicing software to “manage its loss mitigation processes and enhance internal efficiencies.” “OrangeGrid is good news for Flagstar’s borrowers because it means a faster review for them and a more timely return to a performing status for their loan,” Todd Mobraten, CEO and founder of OrangeGrid, said in a statement.

Retail 80
article thumbnail

ICYMI: Here’s a roundup of the trends, buzz and sage advice from Inman Connect New York

Inman

The biggest takeaway from ICNY for trainer and author Bernice Ross? Regardless of what the market does or whatever the latest whiz-bang technology is, the basics are still the name of the game when it comes to real estate.

article thumbnail

FOA announces the sale of Incenter’s title businesses

Housing Wire

Finance of America (FOA) indirect subsidiary Incenter is selling its title insurance businesses, according to an announcement made on Thursday. Incenter has entered into an agreement with a wholly owned subsidiary of Essent Group Ltd. to sell the issued and outstanding shares of Agents National Title Holding Company (ANTIC) and the issues and outstanding membership interest of Boston National Holding LLC (BNT) — as well as the direct subsidiaries of ANTIC and BNT — for a price of $100 million, a

article thumbnail

Offerpad cutting more jobs in conjunction with $90M raise

Inman

The struggling iBuyer confirms the company has laid off an unspecified number of employees, with more details coming on the Feb. 22 fourth-quarter earnings call.

Mortgage 155
article thumbnail

Why You Should Use a Real Estate Attorney to Sell Your Home

Lamacchia Realty

WHY YOU SHOULD USE A REAL ESTATE ATTORNEY TO SELL YOUR HOME As a home seller you may think you are saving money by not hiring an attorney to guide you through the legal aspects of your sale but in actuality, it could end up costing you more not to! Hiring a real estate attorney is an important piece in the home-selling process and we are going to explain why.

article thumbnail

Broker Spotlight: Megan and Damon Williamson, The Agency Dallas

Inman

Find out how Dallas Realtors Megan and Damon Williamson are combining their individual talents to grow The Agency's brokerage presence in Dallas, Texas.

Brokerage 155
article thumbnail

High borrowing costs impacting many homeowners' reno plans: report

Mortgagebroker News

A significant number of Canadians are shelving their plans to renovate amid a high-rate environment

article thumbnail

Purplebricks is a ‘cautionary tale’ for all tech disruptors: DelPrete

Inman

U.K.-based Purplebricks remains one of the best examples in the world of a real estate disruptor going from zero to one, according to Mike DelPrete. Here's what we can learn from its journey.

article thumbnail

What factors will have the greatest influence on the BoC rate moving forward?

Mortgagebroker News

Economic data is likely to send "conflicting signals" to the central bank in the near future

69
article thumbnail

Essent scooping up Finance of America’s title businesses for $100M

Inman

The struggling lender's pivot to reverse mortgages creates an opportunity for the big private mortgage insurer to acquire Agents National Title and Boston National Title.

Finance 119
article thumbnail

HomeEquity Bank SVP on company's growth in a challenging market

Mortgagebroker News

Developing and strengthening relationships were key to higher volume, executive says

article thumbnail

These Are The 8 Most Affordable Markets To Invest In During 2023

BiggerPockets

The U.S. housing market is facing an affordability crisis.

article thumbnail

HomeEquity SVP on company's growth in a challenging market

Mortgagebroker News

Developing and strengthening relationships were key to higher volume, executive says

article thumbnail

“Catastrophic” Consequences of the US Defaulting on Its Debt

BiggerPockets

The US debt ceiling has been hit; what happens next could send ripples through the economy. But is now the time to panic?

article thumbnail

Vancouver home sales plummet in January

Mortgagebroker News

One of Canada's biggest markets posted big monthly and year-over-year declines

article thumbnail

1252 Chiapas Terrace, San Jose, CA 95126

San Jose Real Estate

We are delighted to present our newest listing, 1252 Chiapas Terrace, San Jose CA 95126. This young townhome provides 2 bedrooms plus den, 2.5 bathrooms, and an open layout with 1667 square feet.

Buyers 36
article thumbnail

What's the latest on the Calgary office market?

Mortgagebroker News

The market brings with it significant momentum from last year, new report says

article thumbnail

Is Financial Fear Stopping You from Living the Life You Dream Of?

BiggerPockets

Knowing how to build wealth may come as a given for most investors. Buy assets, hold on to them, profit, and repeat.

article thumbnail

Loan to Value Ratio (LTV): A Calculation Guide

Property Metrics

The loan to value ratio (LTV) is widely used in commercial real estate. It’s simple to calculate, and it has many applications in commercial real estate analysis. It’s a key metric used by lenders to determine the size of a loan. Not only that, but it is also used by appraisers to determine the overall capitalization rate, as well as other commercial real estate professionals to quickly estimate the cash on cash return.

article thumbnail

Borrower profiles – what can mortgage professionals expect this year?

Mortgagebroker News

"What we've been seeing a lot of this year is a much better quality of borrower"

article thumbnail

Gross Living Area Discrepancies with Public Data May Differ and How They Occur

Boston Appraisal

Appraisers are often tasked with providing valuations for properties that can be very different from one another. From one house to the next, things can and often do change. Everything from the number of bedrooms to the quality of the construction. However, in order to provide credible valuations, appraisers often have to find an objective basis for comparison.