Mon.Mar 11, 2024

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Commentary: What an industry pro learned after helping his parents get a reverse mortgage

Housing Wire

I have been in the mortgage industry for more than two decades and have been working with reverse mortgages for about 12 of those years. Working in this space for so long, I thought I knew the ins and outs of a reverse mortgage, but it wasn’t until I experienced one firsthand that some things really hit home for me. So many people have questions about reverse mortgages: how do they work?

Mortgage 458
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Coldwell Banker CEO talks entrepreneurship, empowerment, impact

Real Estate News

Kamini Lane, who took the helm less than a year ago, is focused on giving agents — “the most underserved” class of entrepreneurs — “what they need to thrive.

Agents 238
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Salt Lake City team leader Dustin Brohm makes the move to Real

Housing Wire

The fast-growing real estate firm The Real Brokerage just added to its agent count. Salt Lake City-based agent and team leader Dustin Brohm announced Monday that he and his teamerage , the Massive Agent Team , are leaving eXp Realty to join Real. Brohm and his team have been with eXp since 2018. The Massive Agent team has roughly 340 agents in 36 states and three countries, and Brohm said he expects roughly half of the team members to make the move with him to Real over the next few months.

Agents 450
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Marc King departs KW president role amid layoffs

Real Estate News

CEO Mark Willis adds “president” to his title and confirms that about 30 people have been let go from the company.

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Rate lock volume rose going into the spring buying season

Housing Wire

The spring homebuying season kicked off with a monthly jump in purchase mortgage locks despite rising interest rates. Rate lock volume rose 5% from January to February due to a notable 8.3% increase in purchase activity, data from Optimal Blue ’s Originations Market Monitor report showed. The rise in purchase activity outpaced the decrease in refinancing activity , which fell by 22.5% for rate-and-term refis and by 3.1% for cash-out loans.

Lending 450
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U.S. Housing Secretary Marcia Fudge to step down

Real Estate News

Fudge, a longtime advocate for affordable housing, announced she will leave her HUD post on March 22.

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More Trending

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Case-Shiller is a go-to source for prices — but know these blind spots

Inman

Repeat-sales models have been the gold standard in home-price tracking for decades. Intel examines what they miss, and what some data providers are doing to fill in the gaps.

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Opinion: The baby boom wave is cresting

Housing Wire

Peak 65 serves as an historic demographic milestone of the new paradigm shift that is changing every aspect of the housing market , finance, retirement planning process and the fragile supply/demand balance of housing inventory for real estate at large. We are living in a watershed moment in history. The new paradigm brings into question many closely held assertions about who we serve, the type of homes we should be building, and the best way to pay for a home in retirement.

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Job Growth Continues to be Strong Across Most States at the Start of 2024

Eyes on Housing

Nonfarm payroll employment increased in 42 states and the District of Columbia in January compared to the previous month, while eight states saw a decrease. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 229,000 in January, following a gain of 290,000 jobs in December. On a month-over-month basis, employment.

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Floify’s new platform aims to provide flexible pricing for mortgage lenders

Housing Wire

Digital mortgage automation solution provider Floify launched a mortgage point-of-sale (POS) platform for lenders. Configured to give independent mortgage banks, federally insured banks and credit unions the needed tools at an accessible price point, Floify Lender Edition aims to increase lender profitability through its automated processes and efficiency tools, the company said.

Mortgage 421
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Rent prices post highest annual increase in over a year: Redfin

Inman

The median asking rent in the United States rose 2.2 percent year over year to $1,981 in February, the largest annual gain since January 2023 and a 0.9 percent increase compared to the month before.

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RON platform NotaryCam records strong growth in 2023

Housing Wire

Remote online notarization (RON) platform NotaryCam expanded its independent notary platform customer base by 46% in 2023, according to an announcement on Monday. The company is a wholly owned subsidiary of title firm Stewart. In addition to expanding its notary platform customer base, NotaryCam also grew the number of loss-mitigation-related RON transactions it was part of in 2023 by 115%.

Law 421
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Want to avoid AI pitfalls? Think like a compliance officer

Inman

Real estate professionals would be wise to think like regulators and prioritize compliance when evaluating the potential use of AI in their business, compliance expert Summer Goralik writes.

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Marc King out, Mark Willis in at KW

Housing Wire

Keller Williams announced major changes to its C-Suite on Monday. Marc King has stepped down as the president of Keller Williams, effective immediately. Mark Willis who was named CEO of Keller Williams in November, is now also serving as the firm’s president. According to the annoucment, King, who has been with Keller Williams since 2001, will continue as a training and coaching leader for Keller Williams’ Franchise Systems Orientation and will continue his work updating the Team Leader an

Training 418
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How to break through barriers and next-level your business

Inman

Today’s housing inventory and higher interest rates might have you feeling stalled, as if you’ve reached a plateau in your business. However, there are steps to try to break through the noise of today’s market, stand out as an agent, and win more real estate listings.

Business 180
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4 ways to effectively train your title agency employees

Housing Wire

For title agency owners and professionals, finding the time and resources to train your team can be challenging. However, well-trained employees offer undeniable benefits, such as increased productivity , engagement and job performance. In this article, we’ll examine four effective strategies to help you navigate these challenges and prepare your team for the changing housing market.

Training 417
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Captivate, connect and convince with compelling presentations

Inman

Applying insights from the "Harvard Business Review" and adapting them to the unique demands of real estate, Nikki Beauchamp writes, you can elevate your presentations from informative to influential.

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[Video] Customer Story: Bozzuto

GoForrmz

“ We’re definitely saving time with GoFormz because it reduces user error and helps prevent things from getting filed incorrectly. ” — Tamara Kaye, Application Specialist, Bozzuto About Bozzuto Headquartered in Greenbelt, Maryland, Bozzuto is a diversified real estate company highly recognized for its developments, construction, property management, and homebuilding.

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Leaders in luxury: Ginger Martin

Inman

Not many real estate agents can say they’ve made a billion dollars in sales. But Ginger Martin, Real Estate Associate with Sotheby’s International Realty – St. Helena Brokerage, boasts more than $3 billion in sales — and that number just keeps growing.

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Seeing Greene: Paying Off Rentals, Partnerships Splits, & Using Home Equity

BiggerPockets

Want to double your real estate portfolio and bring in much more cash flow? What about using some of your untapped home equity to invest?

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Negotiating short sales is a crucial skill for real estate agents

Inman

With some areas seeing rising prices and low supply, Clever's Luke Babich writes, many would-be homeowners are looking into unconventional routes to homeownership, including short sales.

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Tighter Lending Policies Change the Landscape of Condo Mortgage Eligibility for Buyers

Lamacchia Realty

Buyers hoping to purchase condos have been under more stringent lending regulations over the past three years, initially under temporary guidelines that were later made permanent. The regulations were put in place to ensure the condo units, as well as the entire building, are up to code structurally and there are no outstanding critical repair requirements.

Buyers 66
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7 ways to create top-of-mind name recognition with no budget

Inman

Coach Darryl Davis' advice for spring? Get creative with your ideas, get courageous with your prospecting and be consistent in your approach to building and branding.

Agents 180
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Mortgage Rates Decline, Similar to Year Ago

Buys Brokers Only LLC

Mortgage rates in the United States declined on average for the week ending March 7, 2024, and were slightly above rates last year, according to Freddie Mac's weekly Primary Mortgage Market Survey.

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Marc King steps down as president of Keller Williams

Inman

After three years as president, Marc King has stepped down from his post at Keller Williams Realty. CEO Mark Willis will take over King's responsibilities.

Realty 187
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Quebec braces for impact as Desjardins stops mortgages in flood zones

Mortgagebroker News

The policy shift is said to be "just the beginning"

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Brett Miles joins Official as founding agent in NYC

Inman

Miles was most recently affiliated with Compass and brings strong connections in the new development sector to Official. In addition to New York, his team will also begin operating in Miami.

Agents 164
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Morgan Housel: Financial Lessons From History Anyone Can Use to Get Rich

BiggerPockets

Morgan Housel’s ground-breaking book, The Psychology of Money, changed how many Americans thought about saving, spending, and investing.

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These are the markets where rent growth will be strongest in 2024

Inman

Multifamily investors can thrive even during periods of more moderate growth by understanding their renters, markets and properties, Michael Zaransky writes.

Marketing 170
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Canada makes huge investment to boost women in housing projects

Mortgagebroker News

New funds to train 6,400 women in high-demand sectors

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How agents build trust for stronger, longer client relationships

Inman

Agents who leverage new digital tools and services can bring more expertise to clients, but only after trust has been established.

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Lenders, reach more buyers with new credit optimization platform

Housing Wire

In a competitive market where most borrowers are mortgage rate shopping, credit optimization can be the difference between closing a loan or losing out to an offer from a competitor. Here why CreditXpert’s new platform — that combines the best of Wayfinder and the What-if Simulator — can help you reach more buyers and close more loans. HW: CreditXpert has been in the industry since the early 2000s with tools like Wayfinder and What-if Simulator, why introduce a new platform now?

Buyers 432
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Voxtur Analytics welcomes new interim chairman

Mortgagebroker News

Leadership transition follows key resignation

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Altos: Housing inventory could grow 40% this year

Housing Wire

Last fall when people were still expecting mortgage rates to be falling this year, it was common to assume rates would be in the low 6s or 5s this year and people asked me if lower rates would bring a flood of inventory. The suspicion was that there were a bunch of sellers who were waiting to sell: Once rates fell these sellers would come rushing back to this real estate market and we’d finally see inventory grow.

Inventory 508