Housing Wire
MAY 4, 2023
A paradoxical picture is emerging as the spring market is underway. On the one hand, elevated mortgage rates continue to erode buyers’ purchasing power, and in some markets, home prices are falling. On the other hand, inventory is still low, and homes are still selling fast, often with multiple offers. All major housing market metrics point to a restrained housing market.
Real Estate News
MAY 4, 2023
CRMLS partners with Local Logic; Listing Media Services expands; Restb.ai and SentriLock each add 2 partners; news from CubiCasa, TrustFunds and Reliance.
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Housing Wire
MAY 4, 2023
Elevated mortgage rates hurt Rocket Companies , the parent of Rocket Mortgage , again in the first quarter of 2023. Rocket has been cutting expenses and targeting purchase business, but the firm was unable to achieve profitability in Q1 in a shrinking mortgage market. The Detroit-headquartered lender sustained a $111 million adjusted net income loss in the first quarter, following a $197 million loss in the fourth quarter.
Real Estate News
MAY 4, 2023
The leading iBuyer lost $101 million in Q1, but that's a significant improvement over the previous quarter, and they are now "looking for stabilization.
Housing Wire
MAY 4, 2023
“I haven’t seen a dry spell like this in the time I’ve been in business,” Bob Yopko, president of First Equity Residential Mortgage , said of this year’s spring homebuying season. The purchase market is locked up with a lack of inventory thanks to elevated rates and homeowners already having secured low mortgage rates during the pandemic years.
Eyes on Housing
MAY 4, 2023
An earlier post revealed that 71% of buyers who were actively engaged in the process of finding a home in the first quarter of 2023 have spent 3+ months searching for a home without success. The inability to find an affordable home remains the most common reason buyers looking for 3+ months can’t make a purchase, cited by 40% (compared.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Real Estate News
MAY 4, 2023
The 30-year mortgage rate averaged 6.39% this week, down from 6.43%, but the decline has not spurred an increase in mortgage applications.
Housing Wire
MAY 4, 2023
The slower housing market at the start of the year was not enough to prevent Fidelity National Financial from turning a profit. During the first quarter of 2023, the Big Four title insurer reported revenue of $2.474 billion, down from $3.167 billion in Q1 2022, and a net income of $59 million compared to $400 million a year prior. Fidelity’s title segment reported revenue of $1.6 billion for the quarter, down from $2.4 billion a year ago, and a net income of $128 million, a decline compared to
Real Estate News
MAY 4, 2023
Redfin CEO Glenn Kelman says the company is ‘leaner, hungrier’ and ready for when the real estate market rebounds.
Housing Wire
MAY 4, 2023
Pontiac, Michigan-based United Wholesale Mortgage (UWM) announced on Wednesday that its brokers can request a dedicated loan coordinator, adding a level of loan processing support when needed. In addition, UWM announced brokers can also connect their loan origination platform to the lender’s system. When they order the service known as “PA+,” loan officers, processors, and their borrowers will have access to a loan coordinator to help receive, scrub, order and send docs.
Inman
MAY 4, 2023
Redfin's Q1 revenue declined 45 percent year over year to $325.7 million, as gross profits from its real estate services took a tumble amid a harsh housing market, according to an earnings call Thursday.
Housing Wire
MAY 4, 2023
Investors haven’t exactly treated publicly traded mortgage companies very kindly over the past 12 months. To that end, Rithm Capital , the real estate investment trust that operates NewRez , Caliber and several other businesses , is considering spinning off the mortgage division to aid its flagging stock, which company executives described as “extremely undervalued.” “Our third-party fund business continues to be a major focus as we transition to growing our business as a
Inman
MAY 4, 2023
Founded in 1973, RE/MAX is one of the most recognized real estate brands in the world. RE/MAX® is the most productive real estate network in the world, as measured by residential transaction sides and, with a presence in over 110 countries and territories, the RE/MAX network’s global footprint is unmatched by any other real estate brand.
Housing Wire
MAY 4, 2023
California mortgage tech firm Blend Labs is at risk of getting delisted from the New York Stock Exchange (NYSE) as a consequence of the company’s stock price slumping below $1 for more than a month. Blend announced on Thursday that it received notice on April 28 from the NYSE that it was not in compliance with the stock exchange’s bylaws, which state that a company could be de-listed if its common stock traded below $1.00 for more than 30 trading days.
Inman
MAY 4, 2023
Total revenue dropped 6.2 percent year over year and U.S. agent count fell 5.4 percent, according to earnings data released Thursday as the real estate brokerage continues to wrestle with a shifting market.
Housing Wire
MAY 4, 2023
Toronto-based TD Bank Group and Memphis, Tenn.-based First Horizon Corporation , one of the country’s largest warehouse lenders, have agreed to terminate an acquisition deal, according to a joint announcement issued Thursday. The deal, first announced in early 2022 and valued at $13.4 billion, would have led to TD Bank acquiring First Horizon, facilitating TD Bank’s broader entry into the U.S. market.
Inman
MAY 4, 2023
Described as "one to watch" by Douglas Elliman Executive Chairman Howard Lorber, Middleton will operate out of Douglas Elliman's flagship office in Manhattan, Inman has learned exclusively.
Housing Wire
MAY 4, 2023
The 2023 HousingWire Annual agenda is here. After listening to pitches from our community, discussing with our welcome committee and fine-tuning with our HousingWire team, we feel confident that we’re delivering an agenda that addresses the topics you need to start off 2024 as a leading housing professional. A few distinct focus areas we are continuing to offer this year include access to content, community and commerce.
Inman
MAY 4, 2023
This is the season where the strong will get stronger. Do the work and you will be one of the ones who comes out stronger on the other side.
Riverfront Appraisals
MAY 4, 2023
Selling your home can be a major financial decision, and it’s important to ensure that you get the best possible price for your property. One of the best ways to determine your home’s value is by getting it appraised by a licensed or certified appraiser. An appraisal is an unbiased estimate of the value of […] The post FAQ #17: Do I Need To Have My Home Appraised Before I List It For Sale?
Inman
MAY 4, 2023
Despite reporting its highest-ever first-quarter revenue, Vrbo parent Expedia Group reported losing $145 million in the first three months of the year, according to an earnings call on Thursday afternoon.
Empire Appraisal Group
MAY 4, 2023
NEWS & MEDIA iLLiePhotography, Getty Images Source: Why Is Fla. America’s Fastest-Growing State? | Florida Realtors Why Is Fla. America’s Fastest-Growing State? The Census Bureau says Fla. is now the nation’s fastest growing state, a rank it hasn’t held since 1957. Why? Taxes often get some credit, but it’s mainly the sunshine. WASHINGTON – Florida is the fastest-growing state in America for the first time since 1957, according to the U.S.
Inman
MAY 4, 2023
Find out why this high-flying Beverly Hills real estate broker is in the spotlight and learn what he predicts for the rest of 2023.
Mortgagebroker News
MAY 4, 2023
Mortgage delinquencies could spike by at least 33% over the coming year, new report predicts
Inman
MAY 4, 2023
Watch the latest Inman Access classes to better understand how to build a strong, authentic brand, and learn the key tactics real estate professionals can implement to leverage free press.
Mortgagebroker News
MAY 4, 2023
Canada was already seeing a significant demand-supply imbalance even before the surge of immigration, analyst says
Inman
MAY 4, 2023
The iBuying giant saw revenue dip 39 percent year over year at the beginning of 2023, according to a Q1 earnings call Thursday. It also sold and bought fewer homes compared to the beginning of 2022.
Mortgagebroker News
MAY 4, 2023
Artificial intelligence could play a big role in the future of the space
Inman
MAY 4, 2023
An Inman analysis of NAR data on residential sustainability over the past seven years reveals that fewer agents and brokers believe touting energy efficiency in listings elicits meaningful results.
BiggerPockets
MAY 4, 2023
High mortgage rates chewed up and spit out homebuyers, loan officers, and the mortgage industry.
Inman
MAY 4, 2023
The share of homes that were worth at least 50 percent more than their mortgage fell for the second straight quarter. Still, there are few homes facing foreclosure, according to the latest report from Attom.
Mortgagebroker News
MAY 4, 2023
The blockbuster deal has been cancelled
Inman
MAY 4, 2023
Shares in regional banks PacWest Bancorp and Western Alliance Bancorp tumble, and TD Bank Group and First Horizon announce they're calling off their merger.
BiggerPockets
MAY 4, 2023
Early retirement is the holy grail of financial freedom.
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