Housing Wire
SEPTEMBER 30, 2024
Starter homes are more affordable to the average American than they were a year ago, but they have become significantly less affordable over the past decade. That’s the conclusion Redfin reached in a data report released Monday. The national real estate brokerage analyzed household income levels and monthly housing payments to calculate its affordability metric.
Appraisal Buzz
SEPTEMBER 30, 2024
This piece originally appeared in the September 2024 edition of MortgagePoint magazine, online now. As the mortgage industry adjusts to changes in regulatory compliance, rising interest rates, declining purchase volume, and overall economic uncertainty, servicing becomes more important to both mortgage holders and their homeowners. Homeowners are increasingly interested in a seamless and digital, user-friendly experience throughout the mortgage journey, from application to closing and on to t
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Housing Wire
SEPTEMBER 30, 2024
Slightly more than half of Americans say that weather events are becoming an increasing risk factor for their homes, while nearly one in five report difficulties in accessing homeowners insurance. This is according to results of a survey conducted by NeighborWorks America , a congressionally chartered community development organization. The heightened concern reflects “a growing recognition of climate change and its direct implications for housing security,” NeighborWorks said.
Appraisal Buzz
SEPTEMBER 30, 2024
August showed an improvement in homeowner affordability, with purchase applicants’ national median payment falling from $2,140 in July to $2,057 in August. This is supported by the Mortgage Bankers Association ‘s (MBA) Purchase Applications Payment Index (PAPI), which uses information from the MBA’s Weekly Applications Survey (WAS) to assess how new monthly mortgage payments change over time in relation to income.
Housing Wire
SEPTEMBER 30, 2024
More than 16 million Americans who are 65 or older are living alone, but the depth of their experiences is largely unknown. This is according to a recent story published by KFF Health News. “This slice of the older population has significant health issues: Nearly 4 in 10 seniors living alone have vision or hearing loss, difficulty caring for themselves and living independently, problems with cognition, or other disabilities, according to a KFF analysis of 2022 census data,” the story explained.
Appraisal Buzz
SEPTEMBER 30, 2024
The 16th annual Appraisal Summit , held from September 14th to 17th, 2024 at Planet Hollywood in Las Vegas, provided attendees with a packed agenda of education, panel discussions, networking opportunities, and more. With experts from across the industry sharing their insights, attendees left with fresh perspectives on both challenges and innovations shaping the future of appraising.
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Appraisal Buzz
SEPTEMBER 30, 2024
Fay Servicing SVP of Data Science Josh Balson Fay Servicing has announced that Josh Balson has joined the company as SVP of Data Science. In this newly created role, Balson will lead Fay’s data science initiatives, focusing on leveraging advanced analytics and artificial intelligence (AI) to enhance the overall borrower experience and drive internal operational efficiencies.
Housing Wire
SEPTEMBER 30, 2024
Howard Hanna Real Estate Services is jumping into the artificial intelligence (AI) technology game. On Monday, the family-owned firm announced the launch of HomeFinder AI through a partnership with technology firm ListAssist. HomeFinder AI users can type their exact search parameters into the platform — including phrases like a “modern kitchen with tons of natural light” or a “spacious backyard with a pool” — and they will be matched with properties.
Appraisal Buzz
SEPTEMBER 30, 2024
Brookstone Management Director of Operational Initiatives Kerrie Crace Brookstone Management has announced the appointment of Kerrie Crace as new Director of Operational Initiatives. Crace brings more than two decades of experience in mortgage, banking, and default servicing to her new role with Brookstone, with long tenures at both Wells Fargo and Key Bank.
Housing Wire
SEPTEMBER 30, 2024
Compass has announced yet another addition to its team in Texas. Adrian Jacobs, a luxury agent who has sold more than $29 million in volume over the past year, has rejoined Compass’s Dallas office from Douglas Elliman. Coming with him is Genna Skolnik, the leader of The Venture Group. She rejoined Compass last year from The Agency. “Understanding quality real estate opportunities requires both a broad marketplace context and a detailed understanding of asset types,” Jacobs said in a statement.
Real Estate News
SEPTEMBER 30, 2024
Plaintiffs in the Sitzer/Burnett commissions case are seeking preliminary approval for deals with 15 non-Realtor MLSs and 13 real estate brokerages.
Housing Wire
SEPTEMBER 30, 2024
Mauricio’s Umansky’s The Agency is getting into the mortgage business. The brokerage has entered into a joint venture with Barrett Financial Group to offer what the companies believe will be a wide range of mortgage products and streamlined underwriting to The Agency’s luxury clients. Dubbed Aclara Lending, the joint venture will start in Southern California with plans to expand in the near future.
Appraisal Buzz
SEPTEMBER 30, 2024
Steve Schulz Informative Research , a technology platform that delivers data-driven solutions to the lending community, has announced the addition of Steve Schulz as EVP of Product Management, where he will lead the vision, strategy and innovation methodologies to introduce disruptive ideas, improve existing products and processes, and foster a culture of innovation.
Housing Wire
SEPTEMBER 30, 2024
California-based loanDepot on Monday announced it has closed a $300 million offering of notes backed by a revolving warehouse line of credit and secured by mortgages. loanDepot said this is the 10th time it has closed a transaction of this kind. It follows other strategies to strengthen its financial position, including selling mortgage servicing rights (MSRs) and extending debt.
Appraisal Buzz
SEPTEMBER 30, 2024
Home affordability improved in August, due mainly to lower mortgage rates, according to First American. It was the first time since 2021 that affordability improved, according to the firm’s Real House Price Index. First American, however, remains cautiously optimistic about the housing market’s future. Although rates have dropped, home prices continue to rise, and may rise at a faster pace once rates drop more.
Housing Wire
SEPTEMBER 30, 2024
Two of the top five lenders in the reverse mortgage industry are now engaged in a legal skirmish over marketing practices that one lender calls deceptive. Longbridge Financial , a top five reverse mortgage lender and servicer based in New Jersey, is suing Mutual of Omaha Mortgage over a series of websites maintained by the latter. Longbridge alleges that these websites are both deceptive and in violation of the Real Estate Settlement Procedures Act (RESPA) as well as guidance from the Federal Tr
Appraisal Buzz
SEPTEMBER 30, 2024
M2 Lending Solutions is using LenderLogix ’ mortgage point-of-sale and automation software to provide an automated, digital-first borrower experience. Specifically, M2 lending has implemented LenderLogix’ QuickQual, LiteSpeed, and Milestone Text Updates solutions to provide borrowers high-touch, white-glove service. “Our philosophy is to find the best mortgage product for each customer, so it made sense to apply this same philosophy to our technology,” says Chris Murphy, founder and principal at
Housing Wire
SEPTEMBER 30, 2024
According to a recent report by Forbes, over half of all real estate investors are now turning to private lenders. With this comes a more crowded marketplace, which means that existing lenders need to consider ways to stand out from the crowd, to survive. The rise of private lending Private lenders disrupted the monopoly of traditional banks and the private lending market has since seen a remarkable rise, reaching $1.5 trillion in assets under management globally at the start of 2024.
Real Estate News
SEPTEMBER 30, 2024
Home Price Index went up 4.1%, while starter homes are more affordable than they’ve been in four years — in part due to a shift in perspective.
Appraisal Buzz
SEPTEMBER 30, 2024
CV3 Financial Services , a private money lending firm, is using the loan servicing component of The Mortgage Office ‘s platform. As one of the largest private lenders in the country, CV3 selected The Mortgage Office following an extensive evaluation process to achieve greater scale, control, and efficiency in servicing its loans in-house. By moving its loan servicing onto The Mortgage Office’s platform, CV3 gains a trusted system of record with robust functionality, underscoring its commitment t
Real Estate News
SEPTEMBER 30, 2024
The nation’s largest independent brokerage has launched a new natural language search experience on its website, powered by ListAssist to rival portals.
Inman
SEPTEMBER 30, 2024
University of Buffalo contracts law professor Tanya Monestier's sample form makes clear the buyer is on the hook for buyer broker compensation so long as they successfully close a deal.
Eyes on Housing
SEPTEMBER 30, 2024
In September, mortgage rates maintained their downward trajectory, returning to levels last seen two years ago. According to Freddie Mac, the average rate for a 30-year fixed-rate mortgage fell to 6.18%, a decline of 32 basis points (bps) from August. The 15-year fixed-rate mortgage saw an even steeper decline, decreasing by 42 bps from August.
Inman
SEPTEMBER 30, 2024
Ahead of Inman Connect Austin, Realtor.com Chief Economist Danielle Hale talks mortgage rates, affordability, and when agents and consumers might reach the light at the end of the tunnel.
GoForrmz
SEPTEMBER 30, 2024
Transform your existing engineering documents into identical, digital replicas today Engineering documentation is vital for managing projects, collaborating across teams, and maintaining regulatory compliance. However, traditional documentation methods often rely on manual data entry and a lengthy amount of paperwork, leading to inefficiencies and administrative overhead.
Inman
SEPTEMBER 30, 2024
In the first eight months of 2024, only 25 out of every 1,000 U.S. homes changed ownership, marking the lowest housing turnover rate since 1994, according to an analysis by Redfin released Monday.
BiggerPockets
SEPTEMBER 30, 2024
Depending on the area of the country you’re investing in, property insurance costs can add many thousands to your annual costs—and in some areas of the country, these are rising rapidly.
Inman
SEPTEMBER 30, 2024
Most real estate professionals say little has changed since new commission rules went into effect in August. But for a smaller group, the changes have unleashed a completely different experience.
BiggerPockets
SEPTEMBER 30, 2024
Are real estate syndications dead? Some multifamily syndicators are making capital calls and hiding information from investors who anxiously wait (and pray) for their money to be returned.
Inman
SEPTEMBER 30, 2024
In the midst of the LGBTQ+ Alliance’s third annual in-person conference, incoming 2025 President Justin “JZ” Ziegler talked with Inman about the anti-LGBTQ+ political climate, the organization’s future and how to become an ally.
BiggerPockets
SEPTEMBER 30, 2024
Some cities across the United States are emerging as economic powerhouses, creating ideal conditions for real estate investors. Here's where to look.
Inman
SEPTEMBER 30, 2024
Team lead Jen Berbas writes that taking into account the client perspective and experience at every stage of the transaction allows you to optimize their process and outcome.
Lamacchia Realty
SEPTEMBER 30, 2024
Multiple Lamacchia Realty Locations Named Top Real Estate Brokerages 2024 We are thrilled to announce that eight Lamacchia Realty offices have been named to The Boston Globe’s inaugural list of New England’s Top Real Estate Brokerages 2024 ! The Boston Globe awards brokerages based on five key performance indicators: revenue, price performance, sales volume, success rate, and regional expertise.
Inman
SEPTEMBER 30, 2024
As 2025 approaches, Ophir Adar writes, many real estate agents are wondering how to thrive in a rapidly changing market. The key to success lies with your focus, mindset and ultimately, your results.
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