Fri.Jun 30, 2023

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Movement to pay $24M to settle underwriting government loans fraud case

Housing Wire

Indian Land, South Carolina-based lender Movement Mortgage has agreed to pay $23.75 million to settle allegations that it improperly originated and underwrote mortgages insured by the Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) programs. The Department of Justice’s settlement announcement on Thursday resolves a whistleblower lawsuit filed in 2018 by former underwriter Jennifer McNeil and former quality control team lead Ledell Javon Wilson in a federal cour

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Tips for Making a Successful Transition to a New City After a Personal Low Point

Cleveland Appraisal Blog

Hello friends! I’m playing catch-up on blogs with the help of my guest bloggers. I’m working on more of my own articles that will be posted soon. I welcome back guest blogger June Duncan who wrote this article for the Cleveland Appraisal Blog. In this article, she shares some tips for relocating after facing personal challenges. Relocating is not easy.

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FHA increases multifamily large loan threshold

Housing Wire

The Federal Housing Administration (FHA) published Mortgagee Letter (ML) 2023-14 this week, which increases the threshold from $75 million to $120 million for multifamily loans to be considered large loans. This marks the first major increase to the threshold since 2014. The goal of the increase is to “enable a greater number of transactions to use standard underwriting processes when submitted for FHA Multifamily insurance,” the agency said.

Insurance 384
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'Mounting pressure' on industry as MLS agrees to settle commission suit

Real Estate News

MLS PIN has agreed to pay $3 million and stop requiring sellers to offer buyer-broker compensation, a practice at the core of two other major lawsuits.

Sellers 293
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Guaranteed Rate acquires full ownership of Premia Relocation Mortgage

Housing Wire

Chicago-based Guaranteed Rate , a top 10 U.S. mortgage lender, acquired Sirva’s shares at Premia Relocation Mortgage and now has full ownership of the business, the companies announced on Friday. The financial terms of the transaction were not disclosed. Premia, which provides a relocation mortgage service for employees moving across the country or to other countries, has a digital platform called DigitalMove.

Mortgage 370
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Hanna CEO chooses 'disruptive' path to retain listing control

Real Estate News

Hoby Hanna recently made waves by pulling listings from IDX — a move that effectively keeps Howard Hanna Real Estate listings off of competitors’ websites.

More Trending

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Brokerage Beat: Growth at United, The Agency, Christie's, Corcoran, eXp

Real Estate News

United franchise and indie firm merge in AL; The Agency opens in NC; Christie's moves into Belgium; Corcoran acquires Jersey Shore firm; PA team joins eXp.

Brokerage 208
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How to become a mortgage broker in 6 steps

Inman

Mortgage brokers have to undergo specific training to do their jobs, but a higher education degree is not required. Those with an aptitude for hard work and client relationships can find great success over the course of their careers.

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Market in Focus: Solid Population Growth for North Carolina

Eyes on Housing

The population of North Carolina rebounded strongly from a brief period of negative growth the state experienced in 2020 due to the COVID-19 pandemic. North Carolina’s population grew at a rate of 1.3% between 2021 and 2022, the ninth fastest of any state. By count, North Carolinas population increased by 133,088, the 3rd largest nominal increase in the U.S.

Marketing 103
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DOJ will weigh in at appeals court during NAR pocket listing dispute

Inman

The antitrust enforcer will get 5 minutes at oral arguments in Top Agent Network's appeal to overturn a lower court ruling tossing its case against NAR's Clear Cooperation Policy.

Agents 155
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A Dog Owner’s Guide to a Pawsitive Home Appraisal

Chicagoland Appraisal Blog

At Chicagoland Appraisals, we understand that your furry friends are an important part of your family. We love dogs and appreciate the joy they bring to our lives. When our home appraiser visits your property, we want to ensure a smooth and comfortable experience for everyone involved, including your beloved pets. As a proud dog owner, taking a few extra steps to prepare your home and your four-legged friend can make a big difference.

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homegenius

Inman

At homegenius, we’re transforming real estate transactions from beginning to end. We know that real change takes more than a bold vision. It requires decades of hard-earned experience, trusted relationships, and a capacity for connecting people and technologies across the real estate spectrum.

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Keeping Your Hospitality Staff Safer this Summer

GoForrmz

How Digital Forms Support Hospitality Staff Hospitality thrives on delivering exceptional experiences to their guests. But that’s not to say it comes easy. The hospitality industry comes with a set of unique challenges and risks. Whether it’s bustling restaurants or working poolside, the efficiency and safety of your hospitality staff is vital. Digital forms do just that.

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Property investing is so hard, even Spencer Rascoff steers clear of it

Inman

The co-founder of Zillow and Pacaso just isn’t that into traditional real estate — at least as an income-generating investment, he told Arrived CEO Ryan Frazier in a recent interview.

Investing 155
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It’s Time We Start Redefining What a Balanced Market is

BiggerPockets

The real estate market has been out of sorts since 2020. Is a balanced market, as we define it, even possible anymore? It's time we shift our perspective.

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Procrastinate much? 7 things agents have put off far too long

Inman

Will you be ready when the market takes off again? The answer to that question, Jimmy Burgess writes, depends on whether you act now to prepare or continue to put off the things you know you need to do in your business.

Agents 148
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Top 5 Cash Flow Markets For Less Than $200k in 2023

BiggerPockets

These markets not only are cheaper to get into but will also give you the best chance at cash flow. Here are the top five.

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Summertime Dadness: Rob Grant on real estate, art and Lana Del Rey

Inman

Hot off the release earlier this month of his debut album, "Lost at Sea," the 69-year-old real estate broker and pianist spoke to Inman about his career, the new album and his daughter, Lana Del Rey.

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Scarlett continues to drive tech innovation in 2023

Mortgagebroker News

Axiom Innovations' executives told CMP about a big year that's seen award recognition, a Canada-wide roadshow and further product advances

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Emerging trends and opportunities in vineyard real estate investment

Inman

The increasing popularity of vineyard properties as alternative assets, the emergence of new wine regions and the lifestyle appeal of vineyard ownership all present new opportunities.

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Eileen Doherty Qualifies for the 2023 Lamacchia Realty President’s Club

Lamacchia Realty

Eileen Doherty has officially qualified for the 2023 Lamacchia Realty President’s Club by surpassing $16,000,000 in sales volume so far this year! This is Eileen’s 6th year qualifying, making it previously in 2017 , 2018 , 2019 , 2020 , 2021 , and 2022. Additionally, when Lamacchia announced President’s Club ELITE in 2020, Eileen was the first member to qualify and made it again in 2021 and 2022. 2023 has already been an incredible year for Eileen.

Realty 59
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Park Ave Billionaires’ Row condo sells for $37.5M

Inman

The upper-floor unit sold for nearly 20 percent more than the last time it was on the market in 2018, which was $31.5 million. The seller was a company tied to former NorthStar Asset Management CEO Albert Tylis.

Sellers 146
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Making $8K/Month from 2 Doors and How to Get HUGE Cash Flow with Fewer Units

BiggerPockets

Huge cash flow after selling most of your real estate portfolio!? Many rookies assume that having more doors equates to more profit, but that’s not always the case.

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Doma hopes to keep its place on NYSE with reverse stock split

Inman

Shares in digital title and closing provider climb above $5, and the company will stay listed if its share price remains above $1 for the next 30 trading days.

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What advice are borrowers seeking in the current mortgage market?

Mortgagebroker News

Shifting economic environment has seen clients' needs change, says broker

Clients 60
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Supreme Court nixes $430B in student loan forgiveness

Inman

Down payment assistance and income-driven repayment still offer a path to homeownership for those repaying $1.6 trillion in student loan debt.

Agents 155
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BC securities watchdog launches criminal probe on Victoria-based broker

Mortgagebroker News

Broker allegedly ran a Ponzi scheme involving millions of dollars

69
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Why RESO standards are set to revolutionize how agents operate

Inman

In his latest industry Snapshot profile, Brandon Doyle talks to Greg Sax, director of growth at the Real Estate Standards Organization.

Agents 155
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8Twelve Financial Technologies, Lotly announce new partnership

Mortgagebroker News

The deal will seek to provide greater accessibility to home ownership through Lotly’s shared equity program

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Real estate leadership is in hot water: The Download

Inman

This week: What the hell is going on in the real estate industry? And, more importantly, what are you going to do about it?

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Toronto housing market will feel the sting of rate hikes, says industry group

Mortgagebroker News

The situation will become particularly difficult for first-time home buyers

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NAR suit. Tax reduction. Pandemic craze? Here’s Inman’s Top 5

Inman

Wondering what you missed? Find out with Inman's Top 5 most-read stories of the week of June 23-29, 2023.

Agents 151
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What are housing leaders doing that you’re not?

Housing Wire

Even wonder what goes on behind the scenes as HW Media intentionally builds and creates its events? This letter from the editor series shows the ins and outs of our HW Annual Event in Austin, Texas from Oct. 10-12. To learn more about the event or to register, go here. Brena Nath, Director of HW+ & Events at HW Media Seventy…give or take a few. This is how many speaking slots we created when we crafted this year’s HousingWire Annual agenda.

Lending 384
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Sudbury affordable housing project gets multi-million dollar boost

Mortgagebroker News

New project broke ground earlier this week

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