Housing Wire
JANUARY 31, 2024
After months of plaintiffs’ lawyers in commission lawsuits claiming that the National Association of Realtors sets real estate agent commissions, the trade group finally decided to, in its words, “set the record straight.” In a video posted on Wednesday, NAR interim CEO Nykia Wright told viewers that, “the notion that the National Association of Realtors controls what real estate professionals get paid is wholly untrue.
Real Estate News
JANUARY 31, 2024
In her first public message as CEO, Nykia Wright defended the real estate profession, saying it has been “vilified,” “sensationalized” and “misrepresented.
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Housing Wire
JANUARY 31, 2024
United Wholesale Mortgage (UWM) announced Wednesday that it’s allowing its broker partners to offer a temporary discount of 100 basis points (bps) for conventional rate-and-term refinances. The discount is valid on new loan locks through March 29. It’s not the first time that the Pontiac, Michigan-based lender has encouraged borrowers to refinance their loans.
George Dell
JANUARY 31, 2024
Appraiser judgment is required. Analysis is reduction and logic. Analysis comprises reasoning and reducing the problem into well-mannered parts. Logic can be mathematical/absolute, or it may involve uncertainty/probabilistic reality. Reduction is the act of separating a larger problem into manageable parts. Judgment, in (traditional-legacy) appraisal, is emphasized in picking comps (data selection).
Housing Wire
JANUARY 31, 2024
RIP 2023 — Whew, that was a year none of us would like to live through again. Chances are, we won’t have to anytime in the next few years. How bad was last year? RealTrends has been tracking housing market data since 1979, including households, home sales, average mortgage rates , etc. One of the most important calculations we do each year is measure the percentage of all households that purchased a home, whether new or existing, in a given year.
Real Estate News
JANUARY 31, 2024
CoStar’s residential business has managed to avoid the antitrust cases rocking the industry, but it’s a different story on the commercial side.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Inman
JANUARY 31, 2024
Fed Chair Jerome Powell says a rate cut at the central bank's next meeting is not "the base case," with policymakers wanting to see more data showing inflation is on a sustainable path down to 2 percent.
Housing Wire
JANUARY 31, 2024
When loanDepot announced that it was the victim of a cybersecurity incident in early January, it became the fourth publicly traded mortgage or title firm to absorb an attack in as many months. “There has absolutely been an increase in cyber security incidents,” said Alex Hamlin, the chief information security officer at Qualia , a digital real estate closing platform.
Eyes on Housing
JANUARY 31, 2024
NAHB analysis of Census data shows that private residential construction spending rose 1.4% in December, marking three months of gains. It stood at a seasonally adjusted annual pace of $911.7 billion. The 2023 annual spending on private residential construction was $864.9 billion, 5.8% lower than the 2022 annual totals. The monthly increase in total construction spending is attributed to more.
Housing Wire
JANUARY 31, 2024
The accessibility of information, the encouragement of multitasking culture and a desire for instant gratification are all huge societal changes that have massively impacted Gen Z individuals. How can we as an industry and as real estate finance experts adapt to reach and maintain the attention of next-generation prospective homebuyers? Social media is going to be a vital piece of the “Gen Z Connection” puzzle.
Inman
JANUARY 31, 2024
The office of New York State Comptroller, which holds nearly 27,000 shares of eXp World Holdings stock, sent a letter to eXp CEO Glenn Sanford requesting he establish an independent committee to formally look into the allegations.
Housing Wire
JANUARY 31, 2024
One of the biggest takeaways from the Wednesday press conference held by Federal Reserve Chair Jerome Powell is that the central bank isn’t likely to cut interest rates in March as investors had hoped. After signaling interest rate cuts for 2024 in its previous meeting, the focus shifted to when such a move might come and how extensively policymakers could lower interest rates this year.
Eyes on Housing
JANUARY 31, 2024
The Federal Reserve’s monetary policy committee held the federal funds rate constant at a top target of 5.5% at the conclusion of its January meeting. The Fed will continue to reduce its balance sheet holdings of Treasuries and mortgage-backed securities as part of quantitative tightening and balance sheet normalization.
Housing Wire
JANUARY 31, 2024
Mortgage company Evergreen Home Loans is continuing its expansion across the country with the opening of new branches in Montana, the company announced on Wednesday. “We are thrilled to welcome the Montana team to our Evergreen family,” Robert Lipston, the company’s executive vice president of production, said in a statement. “We’re excited to bring our personalized approach to mortgage solutions to the residents of Montana.
Inman
JANUARY 31, 2024
A mystery couple has bought Greenwich Village's most expensive townhouse for $72.5 million, surpassing the previous record by $14.3 million. The 12,000-square-foot property was sold off-market, with the buyers planning to use it as a pied-à-terre.
Housing Wire
JANUARY 31, 2024
Dark Matter Technologies (DMT) tapped Tony Fox, former director of ICE Mortgage Technology , as its new chief of client engagement. Fox is responsible for directing the company’s account management and client success teams. He will report to Sean Dugan, chief revenue officer at DMT. Fox was director of client management at I CE Mortgage Technology for four months after the firm acquired Black Knight in September 2023.
Inman
JANUARY 31, 2024
If you currently have buyers but cannot land an escrow, writes team leader Carl Medford, consider stepping up your game to provide the highest level of service possible. It's time to start thinking outside the box.
Housing Wire
JANUARY 31, 2024
Josh Team is joining real estate brokerage Serhant as its first-ever president, Inman reported on Monday. After taking a three-year break from the industry, Team, the former president of Keller Williams , chose the brokerage headed by Ryan Serhant to make his comeback. In his new role, Team will be responsible for scaling Serhant’s national brokerage operations as it pursues expansion across the country.
Inman
JANUARY 31, 2024
Chicago voters are set to decide whether to quadruple the tax buyers pay on residential and commercial properties in the city. Illinois Realtors plans to lead the fight.
Housing Wire
JANUARY 31, 2024
For seniors who have retired, taking on additional debt that requires a monthly payment while being on a fixed income could have ramifications on quality of retirement, and it should be considered in concert with all the facts about how it will impact a senior’s financial situation. This is according to experts who spoke to personal finance website Bankrate about the concept of taking on a new mortgage in retirement.
Inman
JANUARY 31, 2024
More real estate agents believe their client shortfall has begun to stabilize, an indication of rising home demand in the new year, according to new results from the latest Inman Intel Index survey.
Housing Wire
JANUARY 31, 2024
Data from the American Land Title Association’s (ALTA) Title & Settlement Agent Registry (ALTA Registry) will be integrated with the platform of closing software provider Qualia , according to an announcement on Wednesday. The data will be provided to Qualia under a licensing agreement with the ALTA Registry, which is a national database of title and settlement agents.
Inman
JANUARY 31, 2024
If it takes longer than 60 days from the time an offer is accepted until close of escrow, Roam will make the homeseller's mortgage payments for up 60 days after the scheduled closing date.
Housing Wire
JANUARY 31, 2024
Finance of America Companies (FOA) President Kristen Sieffert is bullish on the prospects for the reverse mortgage industry’s leading lender in 2024, particularly after the company went through a series of major changes last year, including the acquisition of American Advisors Group (AAG). This is according to an interview with Sieffert featured on “ Ten Minute Talks ,” an interview series hosted by HousingWire President Diego Sanchez featuring mortgage or real estate leaders in the industry gro
Inman
JANUARY 31, 2024
Firming up of mortgage rates finally catches up with homebuyer demand, with applications for purchase loans falling by a seasonally adjusted 11 percent last week, MBA survey shows.
Housing Wire
JANUARY 31, 2024
The top-producing Suarez Team is joining real estate firm The Real Brokerage , according to a company announcement on Wednesday. Powered by James and Roxanne Suarez, the 10-person team serves the greater Los Angeles market, including Silicon Beach, Beverly Hills, Hollywood Hills and the South Bay. Before joining Real, the team was affiliated with Keller Williams Beverly Hills.
Inman
JANUARY 31, 2024
The "Preventing the Algorithmic Facilitation of Rental Housing Cartels Act" is expected to be introduced in the U.S. Senate this week.
Housing Wire
JANUARY 31, 2024
Despite cooling interest rates , the title insurance segment at Big Four title firm Old Republic recorded a 22.8% annualized decline in net premiums and fees during the fourth quarter of 2023 , which contributed heavily to a 12.8% decrease for all of last year. During the last three months of the year, the company’s title segment reported that it earned $645.4 million in net premiums and fees.
Inman
JANUARY 31, 2024
Teammates Brent Watson and Marco Salari will become founding agents for Official in Los Angeles. The team has closed more than $2.75 billion in career sales.
Appraisal Partners Blog
JANUARY 31, 2024
The post <div class="hrt">Unlocking Property Value: The Essential Role of Residential Appraisals</div> appeared first on Appraisal Partners.
Inman
JANUARY 31, 2024
LGBTQ+ Real Estate Alliance Past-President Erin Morrison shares a new initiative to help real estate professionals come together and speak out against bias, discrimination and hate from a vocal minority.
Appraiserblogs
JANUARY 31, 2024
Appraisers, to see more about the upcoming new UAD currently in design, read the Updated Timeline link in the message below. My concern at this point is ‘training’ materials will be available in Q4 2024, but actual implementation of the ‘new reporting process’ won’t begin until Q3 2025 with limited production, into 2026. Note that in the future “form numbers” won’t be used.
Inman
JANUARY 31, 2024
Chase has increased its grant to $7,500 in 8,500 of the 15,000 communities in its minority homebuyer program. The bank also removed the income requirement for its 3 percent down DreaMaker mortgage.
GoForrmz
JANUARY 31, 2024
Are you leveraging these features in GoFormz to track and monitor your digital forms? Audit season is here, is your business ready? Conducting audits is an integral aspect of business operations, and often not the most enjoyable part. Whether facing audits from government or industry entities, or undergoing internal process audits, they can be intimidating.
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