Housing Wire
MARCH 8, 2023
It’s counterintuitive but real: Despite surging mortgage rates , borrowers’ demand for home loans rose last week. There were very low levels of mortgage applications in the weeks prior to the surprising uptick. However, a surge in demand for government loans and adjustable-rate mortgages (ARMs) played a role in last week’s increase.
Real Estate News
MARCH 8, 2023
Lawsuits aren't just a risk for large, national firms. Brokerages of all sizes are exposed to legal and regulatory threats and need to be proactive.
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Housing Wire
MARCH 8, 2023
Chicago-headquartered lender Guaranteed Rate has expanded its program to approve loans within 24 hours nationwide. Dubbed the “ Same Day Mortgage ,” the program is aimed at giving a competitive edge to first-time buyers who are competing against the all-cash buyers who make up 28% of home purchases, the lender said. The program first rolled out to a select group of customers in 2022, resulting in $1.1 billion in closed loan volume, according to the lender.
Real Estate News
MARCH 8, 2023
Housing completions went up in 2021, but builders tapped the brakes in 2022. At the same time, more households formed, leading to an ongoing shortage.
Housing Wire
MARCH 8, 2023
The 2023 mortgage industry merger-and acquisition wave has hit New Jersey. Two lenders based in the state are negotiating a deal: AnnieMac is in talks to acquire Family First Funding , according to former employees and business partners. More merger and acquisition deals are expected to happen as mortgage rates surge to the 7% level and origination volumes decline even further.
George Dell
MARCH 8, 2023
Bias against minorities has been “proven” against property value message measurers – at least once. It has also been “proven” that the undervaluation is as much as $500, on average. Something must be done! Let’s blame the appraisers! They keep on “determining” values too low! Does the flurry of blame-placing help resolve the problem? But […] The post Can Appraisers Protect Minorities?
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Eyes on Housing
MARCH 8, 2023
Per the Mortgage Bankers Association’s (MBA) survey through the week ending March 3rd, total mortgage activity increased 7.4% from the previous week and the average 30-year fixed-rate mortgage (FRM) rate rose eight basis points to 6.79%. The FRM rate has risen 61 basis points over the past month. The Market Composite Index, a measure of mortgage loan application volume, rose.
Housing Wire
MARCH 8, 2023
The Consumer Financial Protection Bureau (CFPB) on Wednesday released a special edition of its Supervisory Highlights report that profiles “unlawful junk fees uncovered in deposit accounts and in multiple loan servicing markets,” including among mortgage servicers. “For years, junk fees have been creeping across the economy,” said CFPB Director Rohit Chopra.
Inman
MARCH 8, 2023
The beleaguered mortgage lender racks up a $610.4 million 2022 net loss despite cutting 6,100 jobs as rising mortgage rates cut into the company's lucrative refinancing business.
Housing Wire
MARCH 8, 2023
Ohio-headquartered Park National Bank will pay $9 million under a settlement with the U.S. Department of Justice (DOJ) to resolve allegations that it discriminated against Black and Hispanic neighborhoods in the Columbus area. The complaint, filed in federal court in the U.S. District Court for the Southern District of Ohio last month, alleged that Park National failed to provide mortgage lending services by redlining majority-Black and Hispanic neighborhoods in the Columbus area from at least 2
Inman
MARCH 8, 2023
The CEO of construction tech startup Welcome Homes thinks builders will have to take risks to prevent a massive affordability crisis, the likes of which haven't been seen since the early 1980s.
Housing Wire
MARCH 8, 2023
As expected, California-based mortgage lender loanDepot reported another unprofitable period in the fourth quarter of 2022, its third consecutive quarterly loss. The red ink resulted from declining mortgage production and came despite the company’s decision to exit the wholesale channel , trim its workforce , and invest in new products. The rough Q4 underscores the fact that loanDepot’s “Vision 2025” plan, which includes rightsizing its operations, will take many quarters
Inman
MARCH 8, 2023
In remarks at Morgan Stanley's Technology, Media and Telcom Conference Tuesday, CEO Robert Thomson said growing Realtor.com after its sale to CoStar fell through is a "personal priority.
Housing Wire
MARCH 8, 2023
Six former employees are suing New Jersey-based Family First Funding, LLC and its three co-founders in a class-action-seeking lawsuit claiming the lender failed to pay them overtime. The plaintiffs worked as processors at the company in different periods from May 2018 through January 2023. The regular workday, according to them, was supposed to follow business office hours from Monday to Friday.
Inman
MARCH 8, 2023
In this bootstrap economy, knowing how to capture professional pictures and videos of your listings could save you thousands in marketing expenses. Marketing expert Latham Jenkins shares his pro tips for using your iPhone to capture stunning, high-quality footage.
Appraiserblogs
MARCH 8, 2023
Appraisers, something – comparing and contrasting – dawned on me last week, after reading another news release titled “Dean Kelker: Appraisal Modernization is Starting to Gain Momentum“, which is basically pushing an “Enterprise” singular ‘agenda’ of valuation speed regardless of accuracy. Under the banner of “modernization.” VA does not demand appraisers complete assigned appraisal assignments extraordinarily quickly.
Inman
MARCH 8, 2023
It can be challenging to discern meaningful data from the rest. Still, it's vital to grow your social media efforts effectively. You want to avoid what's called "vanity metrics" and measure the metrics that mean something.
Eyes on Housing
MARCH 8, 2023
The count of open, unfilled jobs for the overall economy declined slightly in January, falling to 10.8 million, after an 11.2 million reading in December, which was the highest level since July. The count of total job openings should fall in 2023 as the labor market softens and the unemployment rises.
Inman
MARCH 8, 2023
Inman's first-ever Intel leadership survey revealed that leaders think the market will be worse in 2023 compared to 2022 — but they also expect to thrive regardless of the economic headwinds.
GoForrmz
MARCH 8, 2023
Honoring Women in Tech: Meet the Women at GoFormz Driving Innovation and Equality International Women’s Day is celebrated every year on March 8th to celebrate the social, economic, cultural, and political achievements of women. This year, GoFormz is especially proud to recognize and celebrate women in the tech industry! From leadership positions to technical roles, women are making significant strides and pushing boundaries in tech.
Inman
MARCH 8, 2023
Sens. Elizabeth Warren, Bernie Sanders, Tina Smith and Edward Markey said they investigated rental data firm RealPage and call for more scrutiny of the company’s role in nationwide rent growth.
Valuation Review
MARCH 8, 2023
A Marin City, Calif., couple settles lawsuit pertaining to appraisal bias.
Inman
MARCH 8, 2023
The CFPB alleges mortgage servicers charged excessive late fees, assessed "fake" private mortgage insurance premiums and made homeowners pay for unnecessary inspections.
Valuation Review
MARCH 8, 2023
JLL’s Valuation Advisory group recently expanded.
Inman
MARCH 8, 2023
Zillow's Listing Media Services product is now available in Houston, Jacksonville, San Diego, Phoenix, Chicago and San Francisco, the search portal announced Wednesday.
Mashvisor
MARCH 8, 2023
Time for some US rental housing market news March edition. In this article, we will go over some important areas of rental property investing.
Inman
MARCH 8, 2023
Fannie Mae's National Housing Survey shows Americans are feeling less secure about keeping their jobs, and nearly 8 in 10 think it's a bad time to buy a home.
Mortgagebroker News
MARCH 8, 2023
An end to hikes would be welcomed by homeowners – but rate cuts are not in the cards yet
Inman
MARCH 8, 2023
The agents join Compass from Berkshire Hathaway HomeServices and boast at least 25 years of experience in the industry, Compass exclusively told Inman.
Valuation Review
MARCH 8, 2023
The Appraisal Standards Board recently commented regarding public feedback.
Inman
MARCH 8, 2023
Inman’s Marketing All-Stars is a nod to the most effective, creative and boundary-pushing marketing professionals in the real estate community.
Valuation Review
MARCH 8, 2023
Voxtur chief valuation officer shares unique living/travel experience.
Inman
MARCH 8, 2023
Futures markets are taking the Fed chair at his word that policymakers may have to hike rates faster and take them higher to combat inflation
BiggerPockets
MARCH 8, 2023
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