Tue.Mar 14, 2023

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Former Guaranteed Rate SVP Ravi Patel and team join UMortgage

Housing Wire

Ravi Patel, a top loan officer and former senior vice president of mortgage lending at Guaranteed Rate , and his team, have moved to UMortgage, according to a statement issued on Monday. “Winners in this industry want to join our platform because we’re identifying the acute pain points of loan originators of different backgrounds—whether that be a retail shop or their own brokerage—and providing value-based solutions,” UMortgage President and CEO Anthony Casa.

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Giving to Charity

The Appraiser Coach

I’ve talked about the importance of paying yourself first, and how living that principle will bless your life. Equally important, however, is its sister principle: pay 10% to charity second.

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Is inflation or recession driving mortgage rates now?

Housing Wire

On Tuesday, we got more confirmation that the Federal Reserve ‘s biggest fear — inflation blowing up to 1970s levels — isn’t happening, according to the CPI data. Even with its most significant component, shelter inflation, keeping core CPI higher than it should be, it’s been hard to accelerate the core data. However, with the current banking stress news and the emergency action taken by the Fed to secure the banking sector, the question now is what will drive mortgage rates : infla

Mortgage 382
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Real estate price cycles & getting bid up

Sacramento Appraisal Blog

I’ve got two things on my mind today. Price cycles and getting bid up during the first week. Well, and banks failing. And my 23rd wedding anniversary this week. And getting in shape. Anyway, let’s look at the first two things. UPCOMING (PUBLIC) SPEAKING GIGS: 3/24/23 How to Think Like an Appraiser (at SAR) 3/28/23 Downtown Regional […] The post Real estate price cycles & getting bid up first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

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Cooling inflation in February brings hope that Fed rate hikes are over

Housing Wire

Consumer prices climbed at a slower pace in February, keeping alive the hope that the Federal Reserve may pause the federal funds rate hikes in its meeting next week following the Silicon Valley Bank and Signature Bank failures. The Consumer Price Index (CPI) rose by 6% in February before seasonal adjustment compared to one year ago, lower than the 6.4% increase recorded in the 12 months ending in January, according to data released Tuesday by the Bureau of Labor Statistics (BLS).

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EXp Canada appoints veteran agent John Tsai as new president

Inman

EXp Canada has appointed veteran real estate agents John Tsai, Nadia Habib and Nathalie Goodyer to three C-suite positions, according to the company. Tsai joined the brokerage in 2017.

Agents 148

More Trending

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7 questions to ask yourself before becoming a landlord in 2023

Inman

Investing in rental properties is one of the most dependable methods of building wealth. You give yourself the best chance of success when you know exactly what you’re getting into.

Landlords 148
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Inflation Eased Despite Sticky Housing Costs

Eyes on Housing

Consumer prices in February saw the smallest year-over-year gain since September 2021 with an eighth consecutive month of a deceleration. However, the shelter index (housing inflation) continued to rise at an accelerated pace and was the largest contributor to the total increase, accounting for over 70% of the increase. Shelter inflation is a lagging indicator and will primarily be cooled.

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John Davis’ lawsuit against Keller Williams won’t get its day in court

Inman

U.S. District Judge Reed O'Connor on Monday granted a motion to compel arbitration in Davis’s case filed in February by Keller Williams, Gary Keller and former KW President Josh Team.

Brokerage 148
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Rookie to Real Estate Investor: College Rentals, Airbnbs, & Plumbing Problems

BiggerPockets

Don’t know what to do AFTER closing on a house? You’ve found your market, done your due diligence, passed your inspections, and now you’re asking, “what’s next?

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DOJ: Tossing pocket listing suit prevents competition with MLSs

Inman

In an amicus brief filed Monday the antitrust enforcer argues that a lower court incorrectly tossed a case filed by Top Agent Network over the National Association of Realtors' pocket listing policy.

Realtors 148
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Avison Young: Hotel sector had a robust 2022

Mortgagebroker News

The market has shaken off the doldrums of the pandemic era, new report says

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With ChatGPT, Addressable fully automates direct mail marketing

Inman

Addressable is partnering with Open AI’s ChatGPT software to make it even easier for agents to execute personalized marketing efforts. The product is called SmartCopy.

Marketing 148
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Could an aggressive US Fed impact Canada interest rates?

Mortgagebroker News

The Bank of Canada may be jolted into action if the loonie takes damage

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Housing still biggest contributor as inflation slowed pace in February

Inman

While the Consumer Price Index jumped a modest 0.4 percent month over month, the collapse of Silicon Valley Bank and Signature Bank could keep interest rate hikes at bay, economists said Tuesday.

Marketing 148
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Poll: Canadian consumer sentiment registering marked improvements

Mortgagebroker News

Canadians are becoming more optimistic towards home price prospects

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Property managers dodged bullet after Signature failure — for now

Inman

A short-term fix by the federal government helped thousands of property managers keep the lights on after the collapse of Signature and Silicon Valley Bank. But lending will be tougher now, experts told Inman.

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Winding Down COVID-19 Relief Programs for Landlords and Tenants

Eppraisal

The COVID-19 pandemic created economic hardships for much of 2020 and 2021. Many, who could not do their jobs remotely, were laid off by employers on a temporary basis. In some cases, those contingent hiatuses became permanent unemployment. To help struggling workers, the federal, state and local governments instituted programs that provided financial relief.

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Guild Mortgage announces 3rd acquisition in as many months

Inman

The acquisition of Colorado-based Cherry Creek Mortgage expands Guild's retail branch network by 68 offices in 45 states.

Retail 148
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SVB collapse: Could it lead to Bank of Canada rate cuts?

Mortgagebroker News

Might the BoC change its approach?

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58 cities that had million-dollar homes in 2022 don’t anymore: Study

Inman

The number of U.S. cities where the typical home value was $1 million or more has dropped from a high of 522 in July 2022 to 464 as of January 2023.

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Non-bank lending: What should brokers keep top of mind?

Mortgagebroker News

"Solving the problem is just as important as rates and fees"

Lending 68
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RentSpree, SkySlope partner to speed renting workflows

Inman

SkySlope’s workflow benefits will enhance rental application and tenant screening actions, tools that help smooth out friction-prone, manual processes, RentSpree executives said Tuesday.

Tenants 147
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Airbnb Resident Hosting Program: Should Multifamily Property Owners Join?

Mashvisor

The Airbnb Resident Hosting program now allows long-term renters to sublet their apartments for short-term stays. Learn more about it here.

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Are ‘infinite returns’ actually possible in real estate investing?

Inman

Unlike most other types of investments, it turns out that "infinite returns" are possible in real estate investing. Here's how it's done.

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IMBs face ripple effect from recent bank failures 

Housing Wire

March came in like a lion for the banking industry with a trio of bank failures , including the nation’s 16 th largest bank, Silicon Valley Bank (SVB), with assets of $212 billion. The other banks laid to rest in early March were crypto-friendly lenders Silvergate Capital Corp. ($11.4 billion in assets) and Signature Bank ($110 billion in assets).

Investing 370
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AI can transform your content marketing. Here’s how to use it right

Inman

Want to do more than write a sonnet with the latest AI tools? Here’s how to put them to work on your content, and the platforms you need now.

Tools 148
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Hispanic homeownership rate rose to 48.6% in 2022

Housing Wire

Despite affordability challenges, the Hispanic homeownership rate reached 48.6% in 2022, the eighth consecutive year of growth. Latinos added a net total of 349,000 homeowner households last year, which is one of the largest single year gains over the last decade, the National Association of Hispanic Real Estate Professionals ( NAHREP ) said in its 2022 state of Hispanic homeownership report on Tuesday.

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FREE Webinar: 1st Quarter Freddie Mac Update

McKissock

What’s going on with Freddie Mac? Join us on Wednesday, March 29, 2023, to find out! McKissock Learning is hosting a FREE one-hour, non-credit Pro-Series webinar titled “Freddie Mac Update 1Q2023.” Freddie Mac representative, Scott Reuter, will discuss what is currently happening with their organization and what to look forward to in the rest of 2023.

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Blend places its bets on ‘composable origination’ tech

Housing Wire

In a margin-compressing environment, California mortgage tech firm Blend Labs is betting that its newly launched composable origination tech will help the firm recover from its financial losses. Available in its Blend Builder Platform, users can build their own origination products, leverage integrations, and use modular blocks to resolve the complexity of an existing technology infrastructure, the company said in an announcement about the launch on Tuesday.

Insurance 381
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Permits Decline At The Start of 2023

Eyes on Housing

Over the first month of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 53,062. On a year-over-year (YoY) basis, this is 36.4% below the January 2022 level of 83,404. Year-to-date ending in January, single-family permits declined in all four regions. The Northeast posted a decline of 20.3%, while the West region reported the steepest decline of.

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Waterstone names Jennifer George VP of investor relations and credit policy

Housing Wire

Wisconsin-based Waterstone Mortgage Corp. has promoted Jennifer George to vice president of investor relations and credit policy, the company said in a statement issued Tuesday. “Her industry knowledge, leadership capabilities, and positive attitude make her an ideal fit for her new role,” said Waterstone Mortgage COO Rich Tucker. “Combining her love of research, knowledge of underwriting, and focus on solutions for our sales teams, she finds ways to drive clarity in our underwriting guidelines

Investors 359
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Economic Turbulence Prompts Seattle Area Market Concern vs. Year Ago

Will Springer Realtor

The opening months of the Seattle/King County housing market can best be expressed as sparks of activity within a mostly tentative purchasing environment. Unless the listed home is in a favorable location, priced competitively and move-in ready, activity has been somewhat muted as prospective buyers and sellers wait for economic conditions to improve.

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House hearing highlights partisan division over CFPB mission

Housing Wire

The U.S. House of Representatives Subcommittee on Financial Institutions and Monetary Policy held a hearing last week on whether the Consumer Financial Protection Bureau (CFPB) should be reformed in regard to its mission. Subcommittee Chairman Rep. Andy Barr (R-KY) used the opening remarks to note that the agency is lacking oversight that’s consistent with other federal agencies while taking aim at CFPB Director Rohit Chopra for the enforcement actions pursued since Chopra entered office.

Law 365