Housing Wire
JULY 26, 2023
United Wholesale Mortgage (UWM), the country’s largest wholesale lender, expanded its debt service coverage ratio (DSCR) loan options to four after launching its first product in March. Dubbed “Investors Flex,” the non-QM product for real estate investors, offered purchase and refinance loans up to $2 million that could be used to finance up to 20 properties by using each property’s monthly rental income to qualify.
Sacramento Appraisal Blog
JULY 26, 2023
It’s either hot or cold. A bidding war or crickets. That’s what I’ve been hearing from real estate agents about their listings. Today I want to talk briefly about the word on the street, hot pockets, and I have some really cool stats to share. Skim quickly or digest slowly by topic. UPCOMING (PUBLIC) SPEAKING […] The post It’s either a bidding war or crickets first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.
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Housing Wire
JULY 26, 2023
When clients find their dream house and are ready to make an offer, Todd Armstrong’s next call isn’t necessarily to the seller’s agent or the buyer’s loan officer. “We immediately reach out to an insurance agent to see the insurability of the house because it is becoming more and more of a problem,” Armstrong, a Compass agent in San Diego, told HousingWire’s Brooklee Han in a feature we published Tuesday.
George Dell
JULY 26, 2023
Is USPAP biased? (Appraisal Foundation, Uniform Standards of Professional Appraisal Practice) Is this possible? It can’t be! This part 8 of a multipart look at issues in valuation standards. Editor’s Note: This is Standards, part 3.8 of George Dell’s series on How Do I Move to EBV? Links to the earlier posts are here. Let’s […] The post Does USPAP Enable Bias?
Housing Wire
JULY 26, 2023
The Federal Reserve (Fed) raised the federal funds rate 25 basis points to the 5.25 to 5.5% range on Wednesday, its highest level in 22 years. While the markets have already “priced in” this rate hike, which was widely expected, most investors are already wondering what it would take for the central bank to lift rates again later this year. For the housing market, that likely means a few more months with mortgage rates above 6%.
Real Estate News
JULY 26, 2023
Realtracs CEO Stuart White believes the MLS landscape could look very different in a post-"cooperation and compensation" future.
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Real Estate News
JULY 26, 2023
The percentage of equity-rich homes hit 49% in the second quarter, rebounding after a decline earlier in the year.
Housing Wire
JULY 26, 2023
Despite yet another increase in homebuilder sentiment , the sales pace of new homes declined month over month in June, according to data published on Wednesday by the U.S. Census Bureau and the Department of Housing and Urban Development ( HUD ). In June, the sales pace of new homes fell 2.5% compared to May , dropping to a seasonally adjusted annual rate of 697,000.
Real Estate News
JULY 26, 2023
Prices also fell slightly, nearly closing the gap between new and existing home prices.
Housing Wire
JULY 26, 2023
Despite fewer real estate transactions occurring year over year, listing giant CoStar still managed to grow during the second quarter of 2023. And more importantly, it leapfrogged Realtor.com to become the second most visited residential listing site. CoStar, best known for its commercial listing platform, recorded a 13% overall annual increase in revenue to $606 million, and a 20% yearly jump in net income to $100.52 million.
Real Estate News
JULY 26, 2023
The benchmark rate is now in the 5.25-5.5% range, the highest level in 22 years.
Housing Wire
JULY 26, 2023
Add Guaranteed Rate to the list of lenders offering down payment assistance programs to target first-time homebuyers facing historic affordability challenges. The Chicago-headquartered lender released OneDown — a mortgage loan that allows customers to buy a home with a minimum down payment of 1% of the purchase price. G-Rate will provide 2% of the required 3% minimum down payment for a conventional loan or up to $2,000 — whichever is lower, the firm said on Wednesday.
Inman
JULY 26, 2023
A company that offers "the most private workout you’ll ever get" in shipping containers outfit into tiny gyms is looking to franchise across the U.S., according to The Gym Pod.
Housing Wire
JULY 26, 2023
In acquisition mode, Mr. Cooper Group continued to improve its profitability, beating analysts’ expectations in the second quarter of 2023. The company’s servicing and origination platforms performed better than in the previous quarter. Mr. Cooper delivered $142 million in net income from April to June, compared to $37 million in the first quarter , the company reported Wednesday.
Inman
JULY 26, 2023
Thanks to its Home Point Capital acquisition and other pending transactions, the loan servicing giant delivered upbeat Q2 results Wednesday and expects to hit a $1 trillion target by year's end.
Housing Wire
JULY 26, 2023
As mortgage rates remained stubbornly high last week, hovering around 6.87%, mortgage applications fell from a week prior. For the week that ended July 21, mortgage applications fell 1.8% from the prior week , according to data from the Mortgage Bankers Association. “Mortgage rates were essentially flat last week but remained high, with the 30-year fixed staying at 6.87% and contributing to a pullback in mortgage applications,” said Joel Kan, MBA’s vice president and deputy chief economist.
Inman
JULY 26, 2023
New-home sales drooped 2.5 percent from May to a seasonally adjusted rate of 697,000 — 23.8 percent higher than June 2022, according to data released Wednesday by the U.S. Census Bureau.
Housing Wire
JULY 26, 2023
It’s a difficult lending market right now — one in which lenders and servicers can’t afford to lose customers. And in a market where margins are razor-thin, acquiring new leads may not be in your operating budget. Precision Marketing from CoreLogic is a revolutionary way to approach lead generation. Rather than relying on trigger notifications, Precision Marketing combines in-depth customer intelligence with CoreLogic’s robust property dataset to identify when your customers first show purchase
Inman
JULY 26, 2023
Major real estate companies began reporting Q2 earnings this week against a backdrop of high rates, low inventory and a sluggish economy. Analysts shared what they're watching with Intel.
Appraiserblogs
JULY 26, 2023
Appraisers, on July 17, 2023, a document from Freddie Mac was circulated to numerous appraisers around the US which identified certain words and other info that can be considered to be ‘BIASED’ in appraisal reports. Here is the Link to the Bulletin. We need to step back for a moment and carefully analyze and consider why that was done, and what it means to appraisers.
Inman
JULY 26, 2023
Instead of throwing away money on paid leads month after month, author and trainer Bernice Ross teaches you how to generate both buyer and listing leads at little or no cost.
Eyes on Housing
JULY 26, 2023
The Federal Reserve’s monetary policy committee increased the federal funds rate to a top target of 5.5% at the conclusion of its July meeting. The Fed will also continue to reduce its balance sheet holdings of Treasuries and mortgage-backed securities as part of quantitative tightening. These actions are intended to slow the economy and bring inflation back to 2%.
Inman
JULY 26, 2023
In a new brief, NAR claims the DOJ's argument for resuming its probe would "destabilize the law." The agency has sought to overturn an earlier ruling that quashed a request for more information.
BiggerPockets
JULY 26, 2023
Don't leave your business' success up to Airbnb's algorithm. Take matters into your own hands by doing this and watch your bookings grow!
Inman
JULY 26, 2023
Whether they're not quite ready to put in an offer or they get a case of cold feet, dealing with commitment issues from clients can leave you feeling frustrated. Coach Darryl Davis offers mindset shifts and strategies to help nurture client relationships.
BiggerPockets
JULY 26, 2023
The housing market has shown resiliency through 2023. What comes next, and will we see a surge in 2024? Here's what you need to know.
Inman
JULY 26, 2023
As ChatGPT reimagines how agents write, computer vision extracts data from millions of images to tell deeper stories about home, Restb.ai Chief Product Officer Nathan Brannen tells Intel.
Lamacchia Realty
JULY 26, 2023
The listings saga continues. In April of this year we published a report noting that the first quarter of this year, compiled with the last quarter of 2022 exhibited the lowest number of homes listed in recorded history. June numbers are in and now we can say that the number of listings for the first half of 2023 now takes the superlative title. Furthermore, last time we only covered Massachusetts, but in this edition of our Listings coverage we added all states in which we have offices; Con
Inman
JULY 26, 2023
A decrease in applications for FHA loans popular with first-time homebuyers helped push the average purchase loan application to $432,700, according to the latest MBA lender survey.
Mortgagebroker News
JULY 26, 2023
The plan might help safeguard the stability of the financial system – but could also see mortgage costs rise, says observer
Inman
JULY 26, 2023
Previously a mortgage broker, the addition of direct loans expands Rocket Mortgage Canada's product set and allows the company to match clients with real estate agents.
Mortgagebroker News
JULY 26, 2023
A new report shows that homes in the province are being sold in half the time it took at the beginning of 2023
Inman
JULY 26, 2023
Federal Reserve policymakers keep their options open for another rate hike in September, but futures markets investors and some economists think the Fed is probably done hiking rates.
BiggerPockets
JULY 26, 2023
Most people take YEARS to buy their first rental property, but most people aren’t Jenni Vega.
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