Housing Wire

JUNE 17, 2024

From rising home prices to rising mortgage rates and inflation , the millennial generation hasn’t had it easy when it comes to homeownership. But new data from Realtor.com shows that millennials aren’t overly burdened in comparison to previous generations. The analysis of historic home prices, income levels and mortgage rates found that baby boomers — Americans between the ages of 60 and 78 this year — “arguably faced the toughest housing market ever for first-time buyers.“ In 1980, when boomers

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Appraisal Buzz

JUNE 17, 2024

According to new Redfin research , more than three in five—an estimated 61.9%—of homes on the market in May had been listed for at least 30 days without selling. That’s up from 60% a year ago and around 50% two years ago. Since March, when new listings increased but buyer demand remained sluggish, the share of properties on the market for at least one month has increased year-over-year, as it has since mortgage rates began climbing in 2022.

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Housing Wire

JUNE 17, 2024

Wells Fargo ’s program that provides up to $5,000 in closing costs for low- and moderate-income families to purchase a home has been extended to an additional 16 metro areas, the bank announced on Monday. The credit is available for borrowers with combined incomes of up to 80% of their area’s median income who are seeking to purchase a home as a primary residence.

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Lending Retail Appraisal Process Mortgage 457

Appraisal Buzz

JUNE 17, 2024

Women In Housing Leadership Awards /*! elementor – v3.21.0 – 26-05-2024 */.elementor-widget-text-editor.elementor-drop-cap-view-stacked.elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed.elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default).elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-v

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Housing Wire

JUNE 17, 2024

The importance of housing as a social driver of health cannot be overstated, yet the intricate pathways connecting housing conditions to health outcomes remain inadequately understood. This knowledge gap is particularly impactful for low-income families who face unique challenges in establishing a sense of home. My experience as a pediatrician at WakeMed has shown me firsthand how critical stable, and quality housing is to the health and well-being of children and their families.

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Appraisal Buzz

JUNE 17, 2024

A new report called the “Cost of Bills Index (COBI),” published by doxo, a web and mobile bill-pay service, is based on doxo’s nationwide bill payment statistics for the most common household bill categories which provides a standard comparison index for the most fundamental expenses that comprise the cost of living. By leveraging doxo’s unique aggregate findings along with anonymized bill pay data, the COBI is a new feature of doxoINSIGHTS which provides a comprehensive look into the bill pay

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Appraisal Buzz

JUNE 17, 2024

The recent settlement by the National Association of Realtors (NAR) has sent ripples through the real estate industry, leaving many agents reeling. As the dust begins to settle on this $418 million agreement, it is crucial for appraisers to recognize the vast opportunities now available to them. Understanding the Settlement The lawsuit that prompted this settlement was initiated by seller who felt they were unfairly treated in the real estate commission process.

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Housing Wire

JUNE 17, 2024

Realtor.com is extending the reach of its buyer representation advertising campaign, according to an announcement on Monday. As part of this goal, it is launching a “new initiative promoting the benefits of buyer’s agents for individuals in historically underserved and underrepresented communities, including BIPOC, AANHPI, Hispanic, LGBTQ+, first-time, Veteran, and lower-income buyers.

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Real Estate News

JUNE 17, 2024

ATTOM researchers found that counties around Chicago and NYC, as well as several in inland California, would be the most vulnerable in a housing downturn.

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Marketing 280

Housing Wire

JUNE 17, 2024

The U.S. Department of Housing and Urban Development (HUD) announced Monday the availability of $10 million in new grants to be distributed to 23 HUD-approved counseling agencies nationwide, which will help the department boost homeownership rates within historically underserved communities. Announced Monday morning in Harrisburg, Pennsylvania, by Federal Housing Administration (FHA) Commissioner Julia Gordon , the funds “will support activities by these agencies to prepare and equip prospective

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Appraisal Buzz

JUNE 17, 2024

Celebrating its 80th anniversary on June 22 as part of the original GI Bill, the VA loan program has contributed $3.9 trillion to the U.S. economy, and VA loans rank as the top benefit veterans and military members receive for serving their country, according to a new survey from Veterans United Home Loans. For the survey , Veterans United surveyed 500 veterans and servicemembers to get their insights on the VA loan.

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Housing Wire

JUNE 17, 2024

Want more listings this year? Offrs is a predictive analytics tool that generates listing leads for real estate agents. For over 10 years, they’ve been leveraging big data using a patented artificial intelligence (AI) algorithm that sifts through more than 250 data points to determine which homes and homeowners in your zip code are likely to sell their property in the next 12 months.

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Appraisal Buzz

JUNE 17, 2024

This piece originally appeared in the June 2024 edition of MortgagePoint magazine, online now. Members of MortgagePoint’s Editorial Advisory Board share their insights into the trends and challenges shaping the industry landscape this month. Michael Keaton is the SVP, Default Subservicing, for Ocwen Financial (now known as Onity Group). Keaton joined Onity’s Business Development Team in late 2022 to help grow the special servicing business.

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Modernization Technology Agents Design 221

Housing Wire

JUNE 17, 2024

loanDepot has promoted Viviana Abarca, who has worked for the mortgage lender for the past 11 years, to managing director of mortgage lending operations. Abarca will report directly to president and CEO Frank Martell , the company announced on Monday. Abarca will lead loanDepot’s loan processing, underwriting and closing operations, which in the first quarter of 2024 were responsible for closing $4.6 billion in mortgages, down from $5.3 billion in the previous quarter.

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Real Estate News

JUNE 17, 2024

The agency wants to reopen its antitrust investigation into the association, and on June 17 said NAR’s attempt to block that move is not justified.

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Housing Wire

JUNE 17, 2024

Attorneys representing Ginnie Mae and the U.S. Department of Housing and Urban Development (HUD) submitted a motion to change the court venue where a case with Texas Capital Bank (TCB) is taking place, arguing that a contract clause has been violated by TCB’s choice to file the case in Amarillo, Texas, as opposed to Dallas. This is according to court filings reviewed by HousingWire ’s Reverse Mortgage Daily (RMD).

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Real Estate News

JUNE 17, 2024

June 18 is the deadline for those not covered by the NAR settlement to opt in and pay damages, or risk further litigation in the commissions cases.

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Brokerage 248

Housing Wire

JUNE 17, 2024

After first entering the housing business to sell real estate , Jim Cullen transitioned into the mortgage industry in 1997. It would be a few more years before he made the jump into the reverse lending space, but once he did, he found a business that he connected with until his retirement this year. After most recently serving at University Bank from his home in Wisconsin , Cullen is on the cusp of a new transition — from reverse mortgage originator to reverse mortgage customer, having secured a

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Appraisal Buzz

JUNE 17, 2024

WaterfallCalc , a provider of expert guidance and loss mitigation technology for mortgage servicers, has released the FHA Payment Supplement Agreement documentation and automated claim process ahead of the January 2025 deadline imposed by the U.S. Department of Housing and Urban Development. The PSA program is a new loss mitigation requirement designed to help struggling FHA borrowers by combining a partial FHA claim to bring loans current with a monthly principal reduction to decrease monthly p

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Housing Wire

JUNE 17, 2024

Plaintiffs Zillow Group and ShowingTime have reached a settlement agreement with defendants Arizona Regional MLS (ARMLS) and Wisconsin -based Metro MLS in Zillow’s antitrust suit against the multiple listing services. The court was notified of the settlement in a filing on Thursday, but the final terms of the settlement agreement have yet to be announced.

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Law Real Estate Marketing Legal 404

Appraisal Buzz

JUNE 17, 2024

Appraisal management software provider Connexions has introduced tailored payment processing and accounting solutions to streamline invoicing and financial operations. This includes managing appraiser W9s and 1099s, facilitating seamless transactions, and a new Quote feature for soliciting multiple quotes from appraisers to find the quickest and most economical options, the company says in a release.

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Housing Wire

JUNE 17, 2024

Dozens of former employees at Guaranteed Rate say the mortgage lender has fostered a toxic work environment — including verbal abuse, misogyny and bullying — amid the laser focus of its founder and CEO, Victor Ciardelli, on making money and growing the business, according to a report published Saturday by the Chicago Tribune. According to the report, the accusations included Ciardelli, who is described as a “boss who was quick to berate, swear at and demean employees,” mainly when rising interes

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Human Resources Law Loan Officers Legal 401

Appraisal Buzz

JUNE 17, 2024

New American Funding , a national mortgage lender, has launched NAF Black Impact, formerly known as NAF Dream, a program that empowers and supports the Black community in its pursuit of homeownership. NAF Dream launched in 2016, focusing on loan officer recruitment, education, and efforts to expand Black homeownership. Acknowledging the ongoing success of the program, NAF is renaming the program NAF Black Impact to signify the company’s commitment to taking direct, action-oriented steps to addre

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Real Estate News

JUNE 17, 2024

Opendoor unveils industry-first partnership with My State MLS; Real Brokerage launches curated tools; SWMLS partners with RealReports; CRMLS adds Lundy.

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Appraisal Buzz

JUNE 17, 2024

Viviana Abarca has been promoted to managing director of mortgage lending operations at loanDepot. Abarca will report directly to loanDepot president and CEO Frank Martell and will join the company’s executive committee. She will be based in loanDepot’s Phoenix-area operations hub. Abarca is a seasoned mortgage professional who, over the past 11 years, has held a series of leadership positions with increasing responsibility at loanDepot.

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Lending Mortgage Tools Development 195

Real Estate News

JUNE 17, 2024

The low-fee brokerage continues to pursue antitrust claims against Zillow as it looks for a chance to start again.

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Brokerage 208

Appraisal Buzz

JUNE 17, 2024

To reflect its place under the umbrella of its parent company, Adfitech, a provider of quality control and risk management services for the mortgage industry, has rebranded as Mortgage Connect Risk Solutions. Adfitech was acquired by Mortgage Connect – a national mortgage services provider for the nation’s largest financial institutions, investors, and servicers – in 2022.

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Inman

JUNE 17, 2024

Using artificial intelligence, the latest technology represents an opportunity for the real estate industry to rebrand itself at a time when solutions are sorely needed, writes Inman founder Brad Inman.

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GoForrmz

JUNE 17, 2024

Originally published on December 29, 2015. Construction businesses of all sizes are embracing digital transformation GoFormz mobile and online forms offer a whole new world of possibilities for construction teams. From streamlining communications between job sites and the office to better management of project details, digital forms might be the missing link for your team.

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Construction Project Management Business Modernization 148

Inman

JUNE 17, 2024

CoStar Group founder and CEO Andy Florance shares the next chapter of Homes.com's $1 billion marketing push and the fallacy of "pure buyer agency" as portals recalibrate their strategies amid a coming commission crunch.

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Buyers Marketing Technology Agents 189

Appraiserblogs

JUNE 17, 2024

The U.S. government impoverishes homebuyers as it does the chronically ill – by promoting the use of middlemen who prey upon them. A cadre of such middlemen was created decades ago as a firewall between Big Pharma, the insurance companies and the pharmacy chains. Called “pharmacy benefit managers,” they were to negotiate drug prices, streamline distribution and manage lists of prescription drugs covered by insurance plans.

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Insurance Government Appraisal Valuation 136

Inman

JUNE 17, 2024

If scripts feel inauthentic and too "salesy" for your communication style, coach Darryl Davis offers a shortcut to connection and understanding that you can put into practice today.

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Sellers Agents Marketing 171

Eyes on Housing

JUNE 17, 2024

Diversifying the construction labor force is a key strategic goal given the ongoing skilled labor shortage. The latest labor force statistics from the 2022 American Community Survey[1] show that Non-Hispanic white people account for the majority of workers in the construction industry (57.5%). However, Hispanics make up close to one-third of the construction labor force.

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Construction 97

Inman

JUNE 17, 2024

In an era where almost everything can be purchased online with just a few clicks, is it possible to buy high-value assets like antique cars and real estate online? The short answer is, "Yes.

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Real Estate 166