Housing Wire
FEBRUARY 1, 2023
Building the future of mortgage servicing technology is about granular, nuanced innovation — knowing what changes must happen and when, and executing with no mistakes across scale operations where every tiny detail is highly regulated. And doing all of this within aging infrastructure — it’s about building pathways within the aging infrastructure and incrementally replacing it with the new.
George Dell
FEBRUARY 1, 2023
Market, the word, is used over 2500 times in The Appraisal of Real Estate. And over 650 times in the current (2021-2024) version of USPAP. “Market” must matter! But what is it? “Market” has two main meanings which correspond to the definitions in The Dictionary of Real Estate Appraisal. One is a system to bring […] The post Market Target? appeared first on George Dell, SRA, MAI, ASA, CRE.
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Housing Wire
FEBRUARY 1, 2023
High interest rates, coupled with a still-low supply of housing, have created price hurtles that are keeping many first-time homebuyers and lower-income borrowers locked out of the housing market. Interest rates, though down slightly in recent weeks, are still double what they were at the end of 2021, and the Federal Reserve continues its monetary tightening policies to fight inflation.
Inman
FEBRUARY 1, 2023
Whether you’re looking to start strong or take your existing business to the next level, a mentor can be key. Learn how to find the expertise and experience you need in a real estate mentor.
Housing Wire
FEBRUARY 1, 2023
Michigan-based lender United Wholesale Mortgage (UWM) has introduced a construction-to-permanent loan that covers the cost of building a home and then converts to a permanent mortgage once construction is complete. Starting February 1, UWM’s one-time close construction loans will be available on eligible 15- and 30-year fixed conventional loans and 7- and 10-year adjustable-rate mortgages (ARMs), the firm said Wednesday.
Inman
FEBRUARY 1, 2023
Hosting a budget-friendly real estate seminar doesn't have to be overwhelming or expensive — all it takes is a bit of creativity and planning ahead of time so you can make sure everything runs smoothly on the day of the event itself.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Inman
FEBRUARY 1, 2023
Although they claim to have been the first to offer a fried chicken sandwich, Chick-fil-A realized that anyone else could offer a competing product. Therefore, they focused on developing an unbeatable customer experience.
Housing Wire
FEBRUARY 1, 2023
Servicing is a complex process, and many servicers still rely on a patched-together system of solutions to complete their work, resulting in friction and disconnected teams. With risk and compliance on the line, servicers can’t afford to keep holding onto systems and processes that work less than ideally. What servicers need today are technological solutions that deliver value quickly, whether they’re focused on customer experience, lien releases or loss mitigation.
Inman
FEBRUARY 1, 2023
Agents and brokers who spoke to Inman following the ruling in favor of NAR disagreed on who is "overreaching" in the case and on whether changes to the controversial rules are necessary.
Housing Wire
FEBRUARY 1, 2023
As expected, the Federal Reserve slowed the rate hikes in 2023 amid cooling inflation data, sparking hopes of a recovery for the housing market this year. The Federal Open Market Committee (FOMC) on Wednesday afternoon decided to raise the federal funds rate by 25 basis points to the 4.50%-4.75% range. The decision follows four subsequent 75 basis point increases, which occurred in June , July , September and November , and a 50 basis point increase in December.
Inman
FEBRUARY 1, 2023
Showings were way down year over year but only dipped a little bit month over month, according to a new report from ShowingTime. They remain up compared to pre-pandemic levels.
Housing Wire
FEBRUARY 1, 2023
Wells Fargo cut over a hundred jobs in its mortgage division this week following its decision to exit the correspondent channel and shrink its servicing portfolio. A Worker Adjustment and Retraining Notification (WARN) filed in Illinois on January 18 outlines the bank’s plan to impose layoffs that will affect 140 employees. The workforce reduction started on Tuesday at the Wells Fargo Mortgage office in Springfield. “As we said in our January 10 press release, we are exiting the corr
Inman
FEBRUARY 1, 2023
The company refreshes its brand identity for the main franchise and luxury brands ahead of its 10th anniversary. The new look will roll out through a phased approach starting this week, the company said.
Housing Wire
FEBRUARY 1, 2023
Black Knight Servicing Digital is a powerful, white-labeled solution that allows servicers to provide consumers with information about their home value and how to grow and leverage wealth from their property. The solution is a convenient resource that leverages Black Knight’s vast repository of mortgage and public records data, coupled with leading analytics.
Inman
FEBRUARY 1, 2023
"California, Nevada and Hawaii represent our largest market, and we are thrilled to have Wendy onboard to lead our teams and agent entrepreneurs in this key market," CEO Robert Reffkin said. "Her expertise and dedication to the industry are ideally suited to this important role.
Housing Wire
FEBRUARY 1, 2023
Lien releases are involved in several much larger regulated processes related to paid-in-full loans, charged-off loans, loan forgiveness and other default-related scenarios that require a mortgage to be discharged. Each of these processes involves specific documentation, compliance requirements and service levels throughout the payoff or charge-off.
Inman
FEBRUARY 1, 2023
All across the country, real estate agents are posting positive signs of change from the trenches and revealing they're suddenly dealing with packed open houses and intensifying bidding wars.
Housing Wire
FEBRUARY 1, 2023
Borrower demand for home loans increased in the first three weeks of 2023, sparking optimism among mortgage industry executives and loan officers. But don’t fool yourself — there are signs of volatility on the horizon. “Overall application activity declined last week despite lower rates, which is an indication of the still volatile time of the year for housing activity,” Joel Kan , Mortgage Bankers Association (MBA) vice president and deputy chief economist, said in a statement
Inman
FEBRUARY 1, 2023
The new location builds on Christie's existing Caribbean network, which has a presence in The Bahamas, British Virgin Islands, U.S. Virgin Islands, Cayman Islands, St. Barthelemy and Turks & Caicos.
Housing Wire
FEBRUARY 1, 2023
When facing a challenging and uncertain market, servicers will naturally seek a tax vendor they can trust. CoreLogic has led the residential property tax industry for years. Today, the company leverages their experience and dynamic pricing to help their servicing clients succeed in 2023. CoreLogic’s Digital Tax Portal provides servicers with a window into the industry’s largest property database, boasting more than 1 billion property records.
Inman
FEBRUARY 1, 2023
Redfin CEO Glenn Kelman acknowledged on Wednesday that, "Not all the people who go into real estate are William Shakespeare" during a wide-ranging discussion on the rise of AI and ChatGPT.
Housing Wire
FEBRUARY 1, 2023
Brena Nath, Director of HW+ & Events Who would you say carries the longest relationship with the homebuyer? From the real estate agent to the title agent, the real estate transaction is one of the largest money transactions that also has the highest number of people involved. My answer would be your mortgage servicer. But even my answer is debatable and might be changing.
Inman
FEBRUARY 1, 2023
Recommendation engines, transaction automation and rapidly evolving chatbots have already transformed how agents, buyer and sellers tackle the housing market, Inman founder Brad Inman writes.
Appraiserblogs
FEBRUARY 1, 2023
The following court documents in the case Naftali Horowitz v. Nicole Andrews, Fastapp AMC founder v. Fastapp AMC president, confirm what appraisers have been saying all along, that if you want high-volume AMC work, you have to lower your fees to 1980’s level, have 24 hour turn times, and, above all, be a number hitter. Horowitz, Fastapp founder, filed a lawsuit in New York court on January 31, 2022 against defendant Andrews to, among other things, remove Andrews as an officer and director of the
Eyes on Housing
FEBRUARY 1, 2023
An earlier post revealed that 65% of buyers who were actively engaged in the process of finding a home in the fourth quarter of 2022 have spent 3+ months searching for a home without success. The inability to find an affordable home (45%) is the most common reason buyers looking for 3+ months can’t make a purchase. In second place.
Inman
FEBRUARY 1, 2023
Economic downturns have historically shrunk the number of practicing Realtors. But those who stick around can end up doing even more deals, economists told Inman Intel.
Eyes on Housing
FEBRUARY 1, 2023
Further downshifting its pace of tightening of monetary policy, the Federal Reserve’s monetary policy committee raised the federal funds target rate by 25 basis points, increasing that target to an upper bound of 4.75%. This marked a smaller increase after four previous 75 basis point hikes and a decelerated 50 basis point increase last December. While not the end of.
Inman
FEBRUARY 1, 2023
From advice on managing your money, time and mindset to practical advice on attire, here's the best advice agents received from their mentors.
Riverfront Appraisals
FEBRUARY 1, 2023
Appraisal waivers have been around for quite some time now, but have really gained serious traction just in the past few years. I realize that some may not be familiar with the term, or its dangers, so in this short post, I’ll cover both. An appraisal waiver is simply an agreement between a lender […] The post FAQ #5: What is an Appraisal Waiver?
Inman
FEBRUARY 1, 2023
Clear Capital CEO Duane Andrews issued a statement on Wednesday saying the software company "must now face a market that will represent the greatest challenge yet.
Eyes on Housing
FEBRUARY 1, 2023
The count of open, unfilled jobs for the overall economy increased in December, rising to 11 million, the highest level since July. This was a surprise rise, as noted by many analysts, particularly given a growing chorus of corporate hiring freezes and job cuts. For now, the December data appears to be more noise than signal, although certainly that conclusion.
Inman
FEBRUARY 1, 2023
Fed Chair Jerome Powell is telegraphing one more small adjustment in March, but some bond market investors think the rate hike campaign may now be over.
Kairos Appraisal Services
FEBRUARY 1, 2023
The cooling housing market is forecast to continue in 2023, and buyers and sellers are proceeding with caution. With increased interest rates and declining home sales, there’s plenty to be nervous about—and there’s still the home appraisal, which can derail any mortgage deal if it comes in “low.” The good news is that a reconsideration… The post What Is a Reconsideration of Value for an Appraisal Report?
Inman
FEBRUARY 1, 2023
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