Housing Wire

NOVEMBER 2, 2023

The National Association of Realtors’ longtime CEO Bob Goldberg is leaving the trade association, multiple sources with knowledge of the situation have confirmed to HousingWire Thursday morning. “We are immensely grateful for Bob’s leadership and decades-long service to NAR,” Tracy Kasper, current NAR president, said in a statement. “It has been a privilege to work with him in expanding and strengthening our organization, and we congratulate him on his well-deserved retirement.

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Real Estate News

NOVEMBER 2, 2023

After steadily climbing this fall, average rates — which have been hovering near 8% — inched down this week, but continued fluctuations are likely.

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Mortgage 290

Housing Wire

NOVEMBER 2, 2023

Mortgage rates stabilized this week as the Federal Reserve decided to keep its rates unchanged Wednesday. However, mortgage rates still remain at a 23-year high. The 30-year fixed-rate mortgage averaged 7.76% as of Nov. 2, according to Freddie Mac ‘s Primary Mortgage Market Survey. That’s was down slightly from last week ’s 7.79% and up from 6.95% the same week one year ago.

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Mortgage Investors Housing Market Marketing 473

Real Estate News

NOVEMBER 2, 2023

Nykia Wright, previously CEO of the Chicago Sun-Times, will be interim CEO. Goldberg had previously announced plans to depart in 2024.

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Housing Wire

NOVEMBER 2, 2023

Redfin executives were happy to discuss commission lawsuits during their firm’s third-quarter 2023 earnings call with investors and analysts Thursday evening, just not the one their firm was recently named as a defendant in. “Let’s talk about the copycat lawsuit first, mostly to say that we are not going to talk about it,” Glenn Kelman , Redfin’s CEO said in response to an analyst’s question.

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Agents Technology Housing Market Training 450

Real Estate News

NOVEMBER 2, 2023

CEO Glenn Kelman told investors its customer focus, including self-service options for buyers, helped improve earnings and could help Redfin grab market share.

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Investors Buyers Marketing 253

Real Estate News

NOVEMBER 2, 2023

While revenue dipped slightly, net losses totaled more than $59 million, but CEO Steve Joyce said the company continued to make progress in a tough market.

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Marketing 241

Housing Wire

NOVEMBER 2, 2023

Smart Rate Mortgage, LLC is no longer licensed as a residential mortgage company in Illinois. Meanwhile, Michael Strauss , its only loan officer, now has an inactive status on his license, according to the Illinois Department of Financial and Professional Regulation (IDFPR). In addition, the Nationwide Multistate Licensing System (NMLS) shows that Jacksonville, Florida-based Smart Rate is no longer authorized to conduct business as of Oct. 3, indicating a voluntary surrender.

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Real Estate News

NOVEMBER 2, 2023

During the company's Q3 earnings call, CEO Carrie Wheeler said she anticipates a quiet fourth quarter but an uptick in home acquisitions next year.

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Housing Wire

NOVEMBER 2, 2023

Real estate agents are always looking for vetted, high-quality leads — and especially so during 2023 market conditions. One of the most efficient ways to acquire leads is to buy them through lead generation providers. These providers offer a rapid and cost-effective means for real estate agents to gather a list of potential clients and ultimately boost sales.

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Real Estate Real Estate Agent Tools Agents 431

Inman

NOVEMBER 2, 2023

Despite Vrbo itself struggling, Expedia, the travel booking company that owns the short-term rentals platform, recorded $425 million in profits during the third quarter.

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Marketing 179

Housing Wire

NOVEMBER 2, 2023

Amid the most challenging mortgage market in decades, Rocket Companies , the parent of Rocket Mortgage , remained profitable in the third quarter of 2023, showing higher margins in the direct-to-consumer and wholesale channels. This was the first earnings delivered by Rocket’s new CEO, Varun Krishna , who focused his conversation with analysts on the potential of artificial intelligence (AI) and other technologies to transform the business.

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Inman

NOVEMBER 2, 2023

Available in Arizona, Oregon and Illinois at launch, Better Insurance will expand into Oklahoma, Tennessee and Wisconsin in the next four weeks. The goal is to be in all 50 states in a year.

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Housing Wire

NOVEMBER 2, 2023

In the fast-paced world of real estate , success hinges on the ability to connect with clients. Recently, I dedicated some time to listening in on phone conversations between real estate agents and prospective homebuyers during their initial interactions. From this experience, one overarching and fundamental theme emerged: the importance of listening.

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Real Estate Agent Real Estate Agents Clients 421

Inman

NOVEMBER 2, 2023

Cost-cutting helped the mortgage lending giant rack up its second consecutive profitable quarter, but at $61.45 billion, mortgage originations for the year to date are down 46 percent from a year ago.

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Housing Wire

NOVEMBER 2, 2023

Virginia-based community bank Trustar Bank sold its mortgage subsidiary to Archer Mortgage Holding Company, the companies announced on Thursday. The financials of the deal were not disclosed. “This strategic move allows Trustar Bank to focus on our core services while still providing portfolio mortgages to our valued customers,” Shaza Andersen, CEO of Trustar Bank, said in a statement.

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Inman

NOVEMBER 2, 2023

Amidst challenging market conditions, the real estate franchisor's total revenue was down 8.7 percent year over year to $81.2 million, coming just shy of analysts' expectations. The company also suffered a net loss of $59.5 million.

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Housing Wire

NOVEMBER 2, 2023

New York-based digital lender Better Home & Finance Holding Company launched Better Insurance to allow customers to shop for homeowners insurance through a fully digital platform. Better Insurance is the latest innovation available through the company’s insurance arm, Better Cover, which partners with more than 20 different insurance providers, according to the firm.

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Inman

NOVEMBER 2, 2023

The company posted profits of $98.3 million, up 8 percent from the third quarter of 2022, while tallying $269 million in revenue, a decrease of 12 percent from a year ago, according to third-quarter earnings Thursday.

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Housing Wire

NOVEMBER 2, 2023

While much remains unknown in the wake of the verdict in the Sitzer/Burnett commission lawsuit case, the one certainty is that all three defendants — National Association of Realtors , HomeServices of America and Keller Williams — all plan to appeal. “This matter is not close to being final. We will appeal the liability finding because we stand by the fact that NAR rules serve the best interests of consumers, support market-driven pricing and advance business competition,” Tracy Kasper , NAR’

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Inman

NOVEMBER 2, 2023

EXp World Holdings' revenue declined 2 percent annually to $1.2 billion in the third quarter, according to a call on Thursday. The company held onto its profitability, with net income reaching $1.4 million.

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Realty Brokerage Marketing 155

Housing Wire

NOVEMBER 2, 2023

California-based nonbank lender loanDepot is suing former chief operations officer Tammy Richards for breach of contract and fiduciary duty, accusing her of stealing confidential information concerning the lender’s customers. The move is part of a legal battle that started in September 2021 when Richards filed a lawsuit alleging the lender closed thousands of loans without proper documentation to boost its performance ahead of its initial public offering (IPO) on the New York Stock Ex

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Contracts Legal Retail Training 410

Inman

NOVEMBER 2, 2023

Prominent proptech company Lone Wolf Technologies used the stage at an industry conference to present a revamped product line set to roll out to real estate brokerages in phases starting in 2024, a Nov. 1 press release said.

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Brokerage Real Estate Technology 151

Housing Wire

NOVEMBER 2, 2023

My, how things have changed. Just a couple years ago there was incredible momentum building around alternative ways to purchase, sell and extract value from residential properties. iBuyers led the way on reshaping the options available to sellers through direct, instant cash offers at scale. The highly competitive purchase market and bidding wars gave rise to power buyer models to help non cash buyers compete.

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Marketing Finance Buyers Investing 409

Inman

NOVEMBER 2, 2023

The iBuyer saw revenue fall 71 percent year over year in the third quarter of 2023. The company also lost $106 million — a reversal from Q2's net profit.

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Technology Marketing 160

Housing Wire

NOVEMBER 2, 2023

Intercontinental Exchange (ICE) Mortgage Technology reported an adjusted operating income of $131 million in the third quarter of 2023, up from Q3 2022’s $126 million — despite the headwinds the mortgage industry is facing. ICE attributed “an analog to digital conversion occurring in the U.S. residential mortgage industry” for its mortgage business outperforming in Q3 even as the industry experienced a nearly 20% decline in origination volumes.

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Inman

NOVEMBER 2, 2023

Find out how this Big Sky brokerage leader prioritizes her team, collaboration and pursuing new development opportunities in her beloved Montana.

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Brokerage Development 157

Empire Appraisal Group

NOVEMBER 2, 2023

Valuing solar panels in a home appraisal involves several factors. Here are some key considerations: Age and condition of the solar panels: The age and condition of the solar panels can affect their value. Older panels or those that require frequent maintenance may be less valuable than newer, well-maintained panels. Energy production: The amount of energy produced by the solar panels can be a key factor in determining their value.

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Appraisal Real Estate Marketing 78

Inman

NOVEMBER 2, 2023

Since announcing a $30 million Series A funding round last year, Vesta has added partners and integrations at a rapid clip, including integration with Willow Servicing.

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Mortgage Technology 136

GoForrmz

NOVEMBER 2, 2023

Don’t be left behind in a digital revolution In an ever-evolving business landscape, adaptability is the key to long-term success. As technology advances at breakneck speeds, companies must find ways to stay competitive and relevant. One way to achieve this is through a digital transformation - a process of integrating digital technologies into various aspects of business operations, from an online order form or employee evaluation template , all the way to data access logs and financial audit t

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Technology Business Training Tools 78

Mortgagebroker News

NOVEMBER 2, 2023

A significant share of consumers tend to be late in making their monthly payments, according to a new Advocis study

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BiggerPockets

NOVEMBER 2, 2023

When people hear the term “passive income,” their minds usually flash to real estate investing.

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Real Estate Finance Investing 75

Mortgagebroker News

NOVEMBER 2, 2023

The Bank of Canada's latest rate pause isn’t set to see activity pick up, chief economist says

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Housing Market Marketing 80

BiggerPockets

NOVEMBER 2, 2023

We’re about to show you the eight best housing markets you’ve never heard of before.

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Housing Market Marketing 74