Housing Wire

FEBRUARY 28, 2024

Rocket Companies will soon shut down Rocket Pro Originate , a mortgage origination platform for real estate agents, insurance agents, tax professionals and other financial professionals who are also licensed to originate mortgages. According to a copy of an email sent to affected originators this week and reviewed by HousingWire, the Rocket Pro Originate platform — part of the company’s third-party origination channel — is to be sunset by the end of June.

Real Estate 508

Real Estate Insurance Agents Real Estate Agent 508

Real Estate News

FEBRUARY 28, 2024

A new Realtor.com report found that the housing supply gap has grown considerably over the past decade as household formation has outpaced home construction.

Housing Market 281

Housing Market Construction Marketing 281

Housing Wire

FEBRUARY 28, 2024

As brokerages across the country have begun implementing buyer agency contracts into their business practices in the wake of the Sitzer/Burnett commission lawsuit verdict, the Consumer Federation of America is warning consumers that they may be filled with “unfair provisions” that primarily protect agents and brokers. The watchdog group reached this conclusion in a report released Tuesday, in which the group examined 43 different contracts from 37 states, with most of the sample contracts comi

Buyers 456

Buyers Contracts Agents Realtors 456

George Dell

FEBRUARY 28, 2024

“I never make adjustments,” said the MAI who first trained me. He was a top litigation appraiser. He explained that if he made an adjustment he had no way to explain how he got the number when cross-examined by the opposing attorney. Instead, he used what is called ‘qualitative analysis.’ The Appraisal of Real Estate […] The post Are Adjustments Necessary?

Training 195

Training Real Estate Appraisal Valuation 195

Housing Wire

FEBRUARY 28, 2024

Higher interest rates in recent weeks have made a dent in housing activity, bringing down mortgage demand. Mortgage applications decreased by 5.6% on a seasonally adjusted basis during the week ending Feb. 23, according to the Mortgage Bankers Association ’s (MBA) weekly mortgage applications survey. “Higher rates in recent weeks have stalled activity, and last week it dropped more for those seeking FHA and VA refinances,” Mike Fratantoni, MBA’s senior vice president and chief economist, said in

Mortgage 440

Mortgage Retail Inventory Marketing 440

Real Estate News

FEBRUARY 28, 2024

The Consumer Federation of America analyzed 43 agreements and concluded that they generally served to protect agents but offered few benefits to buyers.

Buyers 240

Buyers Agents 240

Real Estate News

FEBRUARY 28, 2024

Mark Willis challenged KW Family Reunion attendees to own their full potential and get back on a growth trajectory after a tough year.

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Housing Wire

FEBRUARY 28, 2024

The Marin County Board of Supervisors in Northern California on Tuesday approved reduced fees to build accessory dwelling units (ADUs) in unincorporated parts of the county, according to an announcement by county officials. Marin County is situated across the Golden Gate Bridge, north of San Francisco. It is a notoriously expensive housing market and maintains an estimated population of more than 260,000 people, according to data from the 2020 U.S.

Construction 431

Construction Finance Mortgage Housing Market 431

Real Estate News

FEBRUARY 28, 2024

Zillow’s Listing Showcase product will be available only to Hanna agents in the Cleveland and Pittsburgh metros.

Tools 259

Tools Agents 259

Housing Wire

FEBRUARY 28, 2024

The National Association of Realtors is facing yet another copycat commission lawsuit. The trade group’s legal woes have brought it back to California, where is already facing other commission lawsuits. Filed on Tuesday in U.S. District Court in Los Angeles, the Freedlund suit, named after its lead — and currently only — plaintiff, Andrea Freedlund, the suit alleges that NAR, along with the California Association of Realtors and Redfin , conspired to artificially inflate agent commissions.

Realtors 431

Realtors Legal Agents Brokerage 431

Inman

FEBRUARY 28, 2024

The Consumer Federation of America, a watchdog group, examined 43 contracts from 37 states, most from state or local Realtor associations, and found practices it believes worthy of scrutiny.

Contracts 197

Contracts Buyers Realtors Brokerage 197

Housing Wire

FEBRUARY 28, 2024

Tom Davis, chief sales officer, Deephaven Mortgage Today’s market means that more borrowers have higher debt-to-income ratios, limited access to credit and are looking for alternative ways to get qualified for a mortgage. Tom Davis, chief sales officer at Deephaven Mortgage , offers information about products that can get borrowers qualified and goes into some of the trends he’s seeing in the market today in this executive conversation.

Mortgage 431

Mortgage Investors Real Estate Business 431

Inman

FEBRUARY 28, 2024

With mortgage rates hovering above 7 percent, requests for purchase loans were down by a seasonally adjusted 5 percent week over week and 2 percent lower than a year ago.

Mortgage 194

Mortgage Marketing 194

Housing Wire

FEBRUARY 28, 2024

United Wholesale Mortgage (UWM) ended 2023 as the top U.S. mortgage company, with more than $108 billion in home loans produced in the period, a record purchase volume and increased margins. It was not enough to make its parent company UWM Holdings Corp. financially profitable, which the company attributed to mortgage servicing rights (MSR) markdowns.

Mortgage 421

Mortgage Inventory Marketing Lending 421

Inman

FEBRUARY 28, 2024

The property, sold by developer Adnan Sen, first hit the market for $39.9 million in 2020. It includes a nine-bedroom main house, one-bedroom guesthouse, a pool and a 10-car gallery garage.

Development 183

Development Marketing 183

Housing Wire

FEBRUARY 28, 2024

Top 10 mortgage lender and servicer Newrez is partnering with Newzip , a tech-enabled real estate platform, to roll out a program aimed to save buyers and sellers on credit costs. Dubbed Newrez Home Rewards, buyers will be matched with a real estate agent who works with Newzip and provided booking services. They will also be offered closing cost credits of up to 0.5% of the sales price when buying a home and up to 1% when selling.

Real Estate Agent 421

Real Estate Agent Real Estate Agents Loan Officers 421

Inman

FEBRUARY 28, 2024

Cloze, a provider of artificial intelligence driven solutions for business development and growth, has formed an agreement with marketing technology company MAXA Designs.

Design 186

Design Marketing Technology Development 186

Housing Wire

FEBRUARY 28, 2024

Ellington Financial , parent company of top 10 reverse mortgage lender Longbridge Financial , reported a lower economic return for the fourth quarter of 2023, which was partially driven by net losses from Longbridge “and other positions,” according to CEO Laurence Penn. Penn added, however, that Longbridge is in the process of regaining profitability, and some of the lagging performance attributed to the reverse division is tied to seasonal realities and the ongoing interest rate environment.

Mortgage 421

Mortgage Investors Retail Business 421

Inman

FEBRUARY 28, 2024

Defendant MLS PIN and plaintiffs Jennifer Nosalek, Randy Hirschorn and Tracey Hirschorn asked a district court judge for permission to respond to a statement of interest the DOJ filed in the case.

Realtors 181

Realtors Brokerage Agents 181

Housing Wire

FEBRUARY 28, 2024

Independent brokerage Howard Hanna Real Estate Services has partnered with Zillow ’s ShowingTime+ to allow agents in the Cleveland and Pittsburgh areas to leverage the Listing Showcase tool. Launched in June 2023, Listing Showcase is an AI-powered listing tool available exclusively on Zillow. It enables agents to differentiate themselves through original presentations of their brand and properties using features such as high-resolution hero images and interactive floor plans.

Tools 421

Tools Agents Real Estate Brokerage 421

Inman

FEBRUARY 28, 2024

Despite slowing sales, the value of the U.S. housing market experienced record-breaking growth in 2023, according to Redfin's latest housing report. The total value of 90 million U.S. homes rose from $45.1 trillion in December 2022 to $47.5 trillion in December 2023 — a 5.3 percent annual difference.

Housing Market 180

Housing Market Marketing Home Value 180

Housing Wire

FEBRUARY 28, 2024

The Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) announced this week that they have filed an amicus brief in the U.S. Court of Appeals for the Eleventh Circuit , supporting plaintiffs that allege unlawful fees imposed by Ocwen Loan Servicing , a division of Ocwen Financial Corp. The case involves plaintiffs Sheryl Glover and Cathy Booze, who allege in their complaint that Ocwen charged them certain “convenience fees” on multiple occasions for transactions co

Law 421

Law Legal Mortgage 421

Inman

FEBRUARY 28, 2024

Nearly 70 percent of brokerage leaders who responded to the latest Inman Intel Index earlier this month expect to invest in technology in 2024, with many now saying artificial intelligence is top of mind.

Brokerage 180

Brokerage Technology Investing Marketing 180

Housing Wire

FEBRUARY 28, 2024

Top 10 U.S. mortgage lender Fairway Independent Mortgage Corp. sustained a cyber attack in early December due to vulnerabilities in a vendor system, the company told the Massachusetts Office of Consumer Affairs and Business Regulation. On Dec. 4, the company’s information security team “received notification that an unauthorized user had successfully accessed a third-party system utilized by Fairway,” Bryan Ramsey, vice president of information security incident response at Fairway, wrote in a l

Mortgage 420

Mortgage Development Business Marketing 420

Inman

FEBRUARY 28, 2024

The nation's biggest mortgage lender posts its first annual loss since going public in 2020, largely driven by $854.1 million in write-downs of mortgage servicing rights.

Mortgage 175

Mortgage 175

Housing Wire

FEBRUARY 28, 2024

Blackstone ’s Jonathan Pollack is joining private investment firm Starwood Capital Group , the company announced on Monday. Starting in January 2025, Pollack will serve as the company’s new president. Jeffrey Dishner will remain in his role as Starwood’s president until Pollack takes over. Dishner will then assume the role of vice chairman and head of strategy and business development, the company explained.

Real Estate 417

Real Estate Investing Development Business 417

Eyes on Housing

FEBRUARY 28, 2024

An earlier post published last month shows that young adults ages 25-34 continued the post-pandemic trend of moving out of parental homes with the share of those living with parents or parents-in-law dropping to 19.1% in 2022. Geospatial analysis of the 2022 ACS data reveals substantial differences across states, with the Southern and Northeastern states registering some of the highest.

Law 167

Law 167

Inman

FEBRUARY 28, 2024

These nine pivotal phrases, when articulated daily, can significantly enhance your leadership impact, consultant Chris Pollinger writes.

Development 186

Development Brokerage Agents 186

Appraiserblogs

FEBRUARY 28, 2024

On February 13th, 2024, the fourth ASC appraisal bias hearing took place. For those who were unable to attend, the video of the hearing has been included below. The hearing was a crucial event for the appraisal industry, and it is important for all appraisers to be aware of the discussions and topics addressed. The panel of witnesses included: David Bunton, President, The Appraisal Foundation E.C.

Appraisal 136

Appraisal Lending Real Estate Valuation 136

Inman

FEBRUARY 28, 2024

From the outdated to the silly to the poorly implemented, what marketing schemes have flopped in your business?

Marketing 176

Marketing Business Agents 176

Eyes on Housing

FEBRUARY 28, 2024

The Census Bureau’s latest release of the Survey of Market Absorption of New Multifamily Units (SOMA) estimates that 57% of 85,530 unsubsidized, unfurnished apartments completed in the third quarter of 2023 were absorbed within the first 3 months following construction completion. For condominiums, 68% of the estimated 5,571 units completed in the third quarter of 2023 were absorbed in the.

Construction 97

Construction Marketing 97

BiggerPockets

FEBRUARY 28, 2024

In Q1 2023, investors bought 49% fewer homes than the year prior. Now, we're seeing a rise in investor activity again, with certain property classes more popular than others. What are investors doing, and what should you be buying?

Investors 83

Investors Marketing Real Estate 83

National Association of Realtors

FEBRUARY 28, 2024

NAR asks for clear guidance on the application of fair housing laws to the appraisal process as well as transparency in the compensation of appraisers.

Appraisal 65

Appraisal Appraisal Process Law 65

BiggerPockets

FEBRUARY 28, 2024

These 15 reasons real estate is the best investment are reason enough to diversify your capital and invest in real estate. Whether you're looking at your first real estate investment or you want to expand your portfolio, there are numerous benefits for doing so, giving you access to equity, cash flow, and a tangible asset that gives you control.

Real Estate 79

Real Estate Investing 79