Tue.Apr 04, 2023

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CFPB to appeal its loss on redlining lawsuit against Townstone 

Housing Wire

The Consumer Financial Protection Bureau (CFPB) will appeal a redlining lawsuit it lost against the nonbank retail lender Townstone Financial Inc. and its founder Barry Sturner. The decision comes two months after Judge Franklin Valderrama in the U.S. District Court for the Northern District of Illinois, Eastern Division, ruled in favor of Townstone and Sturner on a motion to dismiss with prejudice the redlining lawsuit. “The Bureau seeks review of a final judgment entered by the district

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Zillow settles co-marketing suit for $15M

Real Estate News

After more than 5 years of litigation, the company agreed to a settlement with shareholders over its co-marketing program, which remains active.

Marketing 246
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What opportunities will the ICE-Black Knight deal present for lenders?

Housing Wire

The investment community is still trying to unpack what Intercontinental Exchange (ICE) has in mind with the potential acquisition of Black Knight. Mortgage analysts expect to see consolidation if the deal were to go through, but also forecast that strong players in the servicing and loan origination system side will emerge. This, in turn, would provide more options for lenders.

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Why You Should Invest in Technology

The Appraiser Coach

I’ve been talking recently about what I call the “principles of prosperity.” The last couple have had to do with money – what it is and how it works.

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Moon platform launches crypto-backed mortgage product

Housing Wire

Add Moon Mortgage to the list of fintechs offering crypto-backed mortgages. Six months after raising $3.5 million in a seed round, the Miami-based cryptocurrency lending platform announced on Tuesday that it launched a product that allows investors in Bitcoin, Ethereum and USDC to use their assets to secure funding for real estate purchases. “The use case for crypto has to go beyond investment potential.

Mortgage 382
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Tech Bytes: News from Endpoint, Tech Helpline and Restb.ai

Real Estate News

Endpoint launches mobile notary platform, Tech Helpline expands to serve 750K members in North America, Restb.ai launches AI-powered property descriptions.

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More Trending

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Opendoor upping incentives for agents

Real Estate News

The iBuyer hopes to attract more agents with an expansion of their loyalty program and increased commissions.

Agents 193
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Endpoint launches Jot, a new tool for notaries

Housing Wire

Endpoint , a digital title and settlement company backed by First American Financial Corporation , has launched Jot, a platform that streamlines the closing process by connecting homebuyers and sellers with a notary signing agent, according to an announcement on Tuesday Notaries who join the Jot network will have access to real estate closings managed by Endpoint and First American.

Tools 370
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John Steinbeck’s former Hamptons retreat sells for $13.5M

Inman

The Sag Harbor Partnership has purchased the "Of Mice and Men" author's part-time abode and will transform it into a space for a writer's residency program led by The University of Texas.

Realty 157
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Down cycles are ripe for marketing ingenuity

Housing Wire

The HousingWire award spotlight series highlights the individuals who have been recognized through our Editors’ Choice Awards. Nominations for HousingWire’s Marketing Leaders award are now open through Friday, April 21, 2023. Click here to nominate someone you know — a client, colleague, boss or friend — it can even be you! Putting time and attention into a clear marketing strategy is a crucial for any successful business but can be nearly impossible to tackle in the midst of a busy cycle,

Marketing 367
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The Agency takes on Virginia Beach as newest franchise

Inman

The office marks The Agency's second in the state of Virginia and its 80th location across the globe. Alan and Betsy Thompson, managing partners of the Chesapeake location, will also lead the Virginia Beach office.

Brokerage 148
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Rithm Capital expands to Europe, hires former BofA exec to lead

Housing Wire

Rithm Capital , the parent company of mortgage lenders Newrez and Caliber Home Loans , is expanding its business to Europe. Former Bank of America executive Marty Migliara has been tapped to lead the operations in the region. Rithm, a New York-based asset manager, is opening an office in London to seek equity and debt investments across the real estate and consumer finance sectors, the company announced on Monday.

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How to lead your agents through the class-action commission storm

Inman

Challenges are opportunities to level up, find efficiencies and creatively problem-solve. Things may get bumpy in the near term, but brokers can help prepare agents for this and any storm that may come their way.

Agents 148
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Construction Job Openings Trending Lower

Eyes on Housing

The count of open, unfilled jobs for the overall economy declined again in February, falling to 9.9 million, after an 11.2 million reading in December, which was the highest level since July, and 10.6 million in January. The count of total job openings should fall in 2023 as the labor market softens and the unemployment rises.

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Zillow settles shareholder lawsuit over co-marketing program

Inman

Zillow has maintained its agent-lender co-marketing program is RESPA compliant, and admitted no wrongdoing while agreeing to pay $15 million, which was granted preliminary approval Monday

Marketing 148
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Home Building Employment across States and Congressional Districts in 2021

Eyes on Housing

According to the latest 2021 ACS, close to 11 million people, including self-employed workers, worked in construction in 2021. NAHB Economics estimates that out of this total, 4.5 million people worked in residential construction, accounting for 2.9% of the US employed civilian labor force. Home building in multiple states in the Mountain Division, as well as in Vermont, Florida, and.

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RentSpree PRO to ‘exponentially increase agent efficiency’

Inman

A number of the marketing features within RentSpree PRO are new, designed to assist agents who may be unfamiliar with the messaging and tactics common to landing renters as clients.

Agents 148
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Data Collectors Bring Into Question The Integrity of Modern Appraisals

Birmingham Appraisal

Will Appraisal Integrity Be Negatively Affected by Data Collectors In the world of real estate, appraisals play a vital role in determining the value of a property. However, in recent years, the rise of data collectors has brought into question the integrity of modern appraisals. Today I’m gong to discuss the concerns surrounding data collectors and their impact on the real estate industry.

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Rocket Homes is target of ‘ongoing law enforcement investigation’

Inman

The Consumer Financial Protection Bureau launched an investigation into Rocket's real estate brokerage arm in 2020 on eve of the company's IPO. Three years later, the probe is ongoing.

Law 148
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3 Upcoming Webinars on Excel and Pivot Tables for Appraisers

McKissock

So, you think you know Excel? McKissock Learning is excited to announce that we’ll be hosting a three-part series of webinars on using Microsoft Excel and pivot tables for appraisers. Beginning with the first session on Wednesday, April 19, 2023, these one-hour, non-credit Pro-Series webinars will feature Cathy Horwitz, a Microsoft Office Instructor.

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The bombshell real estate lawsuit has just exploded

Inman

With the stakes higher than ever in Moerhl, the real estate industry is facing significant upheaval in terms of how listing and selling agents are compensated. As both Realtors and homeowners await the outcome, the defendants' next moves — settlement, trial or bankruptcy, may very well reshape the industry’s landscape for many years to come.

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Best mortgage companies to work for in Canada | Top Mortgage Employers

Mortgagebroker News

Our annual special report on the best mortgage companies to work for not only includes brokers, but also tech companies, lenders, networks and more!

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Luxury Presence

Inman

Luxury Presence’s award-winning real estate website designs and expert marketing solutions help real estate agents, teams, and brokerages build their brands and grow their businesses.

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5-Step Guide to Becoming an Airbnb Real Estate Investor

Mashvisor

You want to become an Airbnb investor, but don’t know where to start? Read this guide to help find the right Airbnb investment opportunity.

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When pigs fly: A $5M California home gets rare approval from Zillow Gone Wild

Inman

Many real estate agents have come to fear an appearance on Zillow Gone Wild, a social media juggernaut that has captured the attention of millions of followers who gawk at the baffling architecture, zany landscaping and bizarre decor of Zillow's most uncommon listings. But last week, the platform bestowed California-based real estate agent Sarah Rogers with a truly unusual gift — the rare distinction of listing the "perfect modern" home.

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Spring 2023 Atlanta Housing Market

Hank Miller Team

As the spring 2023 housing market around greater Atlanta picks up steam, in many areas it feels like deja vu all over again. The last two years were a ride for Atlanta area home buyers. Although low-interest rates were advantageous, a limited housing supply led to a grueling home buying experience. Atlanta area home sellers on the other hand, enjoyed historical sway and leverage.

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Their clients could buy homes. But they rent for $75K a month instead

Inman

Increasingly, wealthy would-be homebuyers are opting to rent in lieu of homeownership, choosing to cough up top dollar for $69,000-a-night Airbnbs and apartments for north of $100,000. But why?

Clients 146
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Could the Bank of Canada reduce interest rates in 2023?

Mortgagebroker News

Murky economic waters may be ahead after recent banking turmoil in the US.

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Cash deals hit all-time high in Manhattan as sales plummet 38%

Inman

The average sale price for a home in Manhattan fell 5 percent to $1.95 million while the median sale price fell 10 percent to $1.075 million, according to a quarterly market report by Douglas Elliman and Miller Samuel.

Marketing 146
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Top Mortgage Employers: the results are in

Mortgagebroker News

Find out which mortgage companies got top marks from their employees

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6 things landlords need to know before breaking a lease

Inman

A signed lease is a binding legal agreement that can’t be broken — except in the few exceptions when it can. Here are some common scenarios to watch for as a landlord or a real estate investor.

Landlords 146
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BC unveils new strategy to turbocharge home construction

Mortgagebroker News

The new plan aims to rapidly boost housing inventory in the province

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Remote Online Notarization Now Legal in Massachusetts

Lamacchia Realty

Legislation was signed into law last Wednesday , April 29, 2023 by Governor Maura Healey to legalize remote online notarization (RON). The new law, which will become effective on January 1, 2024, makes permanent changes to the law to allow for remote online notarization. Massachusetts will be the 43 rd state to legalize digital real estate closings but the first to maintain the role of the attorney in the digital closing process.

Legal 41
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From $40K Debt to 4 Doors and Six-Figure Net Worth (In 1 Year!)

BiggerPockets

Owning multiple properties with no money? While it might sound ludicrous, there are several ways to do it.