Thu.Mar 14, 2024

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HUD sued over alleged failure to refund mortgage insurance premiums

Housing Wire

The U.S. Department of Housing and Urban Development (HUD) is being sued in federal court over accusations that it failed to refund nearly $385 million in mortgage insurance premiums (MIP) to borrowers over a period of more than two decades. The lawsuit was previously reported by National Mortgage News and Law360. The proposed class-action lawsuit brought by Florida resident Tricia Sarmiento claims that HUD has failed to issue refunds tied to MIP payments on mortgages backed by the Federal Housi

Insurance 479
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The housing market is like nachos

Sacramento Appraisal Blog

I heard the best description of the market this week. It made me chuckle, and I hope you like it too. I mean, how can you go wrong when relating the housing market to nachos? I also have some emerging trends to talk about below. UPCOMING SPEAKING GIGS: 3/19/24 WCR Gold Country (details here) 3/21/24 2024 […] The post The housing market is like nachos first appeared on Sacramento Appraisal Blog.

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Rising home insurance costs are adding pressure for buyers: Insurify

Housing Wire

The dream of homeownership is becoming increasingly elusive for many Americans as both home prices and insurance premiums are on the rise. Over the past decade, home prices have nearly doubled, according to the S&P CoreLogic Case-Shiller national index. Homeowners insurance premiums are climbing too. The average cost of insuring a $300,000 property surged by 12% in 2023, reaching $1,770 per year, according to a recent Insurify report.

Insurance 473
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Mortgage rates see biggest weekly drop since December

Real Estate News

Rates eased this week, but they will likely remain elevated throughout the spring months as the Fed waits to take action on interest rates.

Mortgage 290
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Online service offers real estate aid to divorcing couples 

Housing Wire

Hello Divorce , a platform that provides legal assistance to couples in the process of divorce, has introduced a new service, HomeSplit, to help individuals navigate the process of dividing their home’s financial assets. Finding a way to divide a home can be financially and emotionally fraught , and HomeSplit aims to help consumers regain some control over their financial future after the divorce.

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Commissions cases: The next 90 days could change everything

Real Estate News

Three key decisions, including the Sitzer/Burnett judgment, are expected this spring — and they could determine what happens next for the industry.

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Agent optimism up as new listings surge

Real Estate News

A national survey of 1,900 real estate agents found that most are anticipating a good market in the coming six months.

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Blend narrows loss in 2023, projects confidence in achieving profitability this year 

Housing Wire

California mortgage tech firm Blend Labs narrowed its loss in 2023 by expanding its consumer banking footprint and growing its mortgage consumer base. The San Francisco-based company reported a non-GAAP net loss of $101.3 million in 2023, down from a non-GAAP net loss of $182.2 million in 2022 , according to data shared in its fourth-quarter and full year 2023 earnings call.

Mortgage 421
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Hilton heads back to campus with $210M Graduate Hotels acquisition

Inman

Hilton Worldwide Holdings has agreed to pay $210 million for the Graduate Hotels brand, a 10-year-old company that operates hotels in some of the nations biggest college towns.

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Change Lending to join Federal Home Loan Bank of San Francisco

Housing Wire

Nonbank mortgage originator Change Lending will become a member of the Federal Home Loan Bank of San Francisco (FHLB-SF). The Anaheim, California-based originator’s application was approved on Wednesday after it fulfilled all statutory requirements for membership, including those related to capital, profitability and liquidity, the company reported.

Lending 421
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Brokerage BHS appeals orders to pay agent $977K for discrimination

Inman

Brown Harris Stevens of the Hamptons seeks to overturn rulings awarding Shauncy Claud nearly $1 million after a court found the firm wrongfully fired her for filing a discrimination complaint.

Brokerage 187
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Former Live Well CEO seeks delay of deadline to file for new trial

Housing Wire

Michael Hild, who served as CEO of now-defunct reverse mortgage lender Live Well Financial , is seeking a one-year delay of a deadline to file a motion for a new trial based on what his attorney describes as “new evidence.” This is according to court documents reviewed by RMD. After his arrest by the FBI in 2019 and a protracted trial process, the jury hearing the case determined in April 2021 that Hild participated in an effort to fraudulently inflate the value of the company’s bonds by approxi

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Fathom Realty added 1,425 agents after raising fees last year

Inman

Fathom posted a $24 million annual loss during a Q4 and 2023 earnings call Thursday afternoon, with executives saying the brokerage's transaction volume dropped less than the industry overall.

Realty 180
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Lisa Moriello talks tech, 2024 HECM limit and openness to reverse mortgages

Housing Wire

Lisa Moriello, the national retail reverse mortgage sales manager at multichannel lender loanDepot , recently spoke to RMD about how business in 2024 seemed to be off to a promising start. Diving deeper into the current reverse mortgage business environment, she offered additional perspectives on multiple topics. These include the integration of forward mortgage professionals into the reverse mortgage business, how the Home Equity Conversion Mortgage (HECM) limit for 2024 could end up impacting

Mortgage 421
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LGBTQ+ Real Estate Alliance launches anti-LGBTQ bill tracker

Inman

Almost two years after launching its "Article 10 Rule" campaign, the LGBTQ+ Real Estate Alliance has upped the ante with a new website that tracks anti-LGBTQ legislators who've received funding from the National Association of Realtors' lobbying arm, the Realtor Political Action Committee.

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Greater Bergen Realtors brings news and analysis to members with HousingWire partnership

Housing Wire

With our commitment to providing insights that housing professionals can make decisions on, HousingWire announced a new partnership with Greater Bergen Realtors , delivering exclusive news, market data and housing research to agents in New Jersey’s Greater Bergen Realtors association. Greater Bergen Realtors is located in New Jersey and serves members in Bergen, Hudson, and Passaic Counties.

Realtors 419
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Future-proof your online presence by buying your domain name

Inman

Purchasing a domain to build up content and expert reputation is one of the most valuable strategies for an agent starting out in the industry, marketing expert David Marden writes.

Agents 176
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Rising Auto Loan Debt, Declining Student Loans for 4Q23

Eyes on Housing

According to the Federal Reserve’s G.19 Consumer Credit Report, student loans in the fourth quarter of 2023 totaled $1.73 trillion (non-seasonally adjusted), reflecting a decrease of 2.1% over the year and following an annual decrease of 1.7% in the previous quarter. The third quarter of 2023 marked the first year-over-year decrease for student loan debt.

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5 currently trending AI tools that will get your business growing

Inman

AI tools are poised to revolutionize every aspect of real estate, Jimmy Burgess writes. Step out of your comfort zone, and put his recommendations to work for you.

Tools 180
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Redfin: Boomers aging in place is ‘the driving force’ behind median homeowner tenure doubling since 2005

Empire Appraisal Group

Redfin: Boomers aging in place is ‘the driving force’ behind median homeowner tenure doubling since 2005 Source: [link] Over the past two decades, the median homeowner tenure has jumped from 6.5 years to 11.9 years. In 2005, the median U.S. homeowner tenure was 6.5 years. In 2023, the median U.S. homeowner tenure was 11.9 years. That’s according to Redfin’s new analysis of U.S.

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How new agents can get the best return on their time investment

Inman

Succeeding as a new real estate agent, David Marden writes, requires effective time management, leveraging your circle of influence and understanding the ROI of your efforts.

Agents 176
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Producer Prices Up in February

Eyes on Housing

Inputs to residential construction, goods less food and energy, increased for the fourth consecutive month to a new high, according to the most recent Producer Price Index (PPI) report published by the U.S. Bureau of Labor Statistics. The index for inputs to residential construction, goods less food and energy, represents building materials used in residential.

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TikTok’s viral orange trend can enhance your brand’s ‘a peel’

Inman

Are you willing to "peel the orange" for your clients? This viral TikTok trend has trainer Rachael Hite asking you to evaluate your brand and its appeal to consumers.

Clients 170
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From Big Data to Big Deals: Leveraging Data Analytics in Real Estate Investing

BiggerPockets

There’s no denying that big data and data analytics tools are transforming the real estate landscape. But just how is this happening?

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Surging mortgage rates gain momentum on new inflation data

Inman

Mortgage rates push back through 7 percent as more worrisome inflation data puts to rest any lingering hopes for a Federal Reserve rate cut this spring.

Mortgage 176
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Rookie Reply: How to Start Investing, Walking Away from Deals, & Co-hosting

BiggerPockets

You want to start real estate investing, but where should you start? Should you buy a course, join a mastermind, or do your own research?

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As spring nears, real estate agents are reconsidering paid leads: Intel

Inman

Two months of Inman Intel Index survey data shows waning confidence in real-world business-building activities but growing interest in buying leads on the internet.

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Guide To Houston's Best Lofts

Houston Properties

Free Houston Loft Buying Kit - Updated 2024: 4 Things You To Know About Lofts In Houston. Compare photos, neighborhoods, amenities, prices & HOA fees.

HOA 69
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Broker Spotlight: Kim Stem, ERA Doty Real Estate

Inman

Learn how a generous friend helped this award-winning Arkansas broker launch her epic 25-year career in real estate.

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4 Key Memorial Villages Real Estate Trends

Houston Properties

4 Interesting Memorial Villages Real Estate Trends. See Memorial Villages real estate, home sales, investment data, neighborhood analysis, homes for sale.

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Biden $10,000 Annual Tax Credit Plan Receives Praise, Criticism

Buys Brokers Only LLC

President Joseph Biden unveiled a comprehensive plan last week to reduce housing costs and make homeownership more accessible, particularly for first-time home buyers and low-income families.

Buyers 62
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Regulator urges agents to complete course as licensing deadline nears

Mortgagebroker News

March 31 marks the last day for Ontario agents to complete private mortgage course

Agents 78
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Pay Your Rent and Level Up Your Home with THIS Creative Side Hustle

BiggerPockets

Could one side hustle help you pay rent, save money to invest in real estate, or reach financial independence?

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Get an Offer on Your Home With a Press of a Button? Real or Too Good To Be True?

Houston Properties

Instant Buyer (Opendoor, Zillow Instant Offers, Perch, Knock) Reviews & What To Know In Advance

Buyers 69