Housing Wire
FEBRUARY 22, 2024
Government-sponsored enterprise (GSE) Fannie Mae announced on Thursday the appointment of Peter Akwaboah as executive vice president and chief operating officer, effective May 20, 2024. Akwaboah, who is currently serving as COO for technology and global head of innovation at Morgan Stanley , has nearly 30 years of experience in the financial services industry.
Real Estate News
FEBRUARY 22, 2024
The company said its "decision to offboard a significant number of unproductive agents" in Q4 was offset by "excellent" retention of strong producers.
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Housing Wire
FEBRUARY 22, 2024
Recent cyberattacks at mortgage companies have put the industry in alert mode, executives at top lenders, servicers, tech vendors and investors told HousingWire. Mr. Cooper Group , loanDepot , First American and Fidelity National Financial Inc. , parent of servicer LoanCare, have temporarily shut down their systems to contain cyberattacks that exposed their customers’ data.
Real Estate News
FEBRUARY 22, 2024
Millennial and Gen Z buyers have a higher tolerance for elevated mortgage rates, and many believe it’s a good time to buy, a Realtor.com survey found.
Housing Wire
FEBRUARY 22, 2024
Mortgage rates continued their ascension toward 7% this week, raising doubts about the approaching spring homebuying season. The 30-year fixed-rate mortgage averaged 6.90% as of Feb. 22, an increase from last week ’s figure of 6.77%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday. Meanwhile, the 15-year fixed rate averaged 6.29% this week, up from 6.12% during the prior week.
Miller Samuel
FEBRUARY 22, 2024
I joined the folks at 27East again for a discussion on the housing market outlook for 2024 in the Hamptons. They always foster a great conversation and I enjoyed this one as I always do. 27east.com · Real Estate Analyst Gives 2024 Hamptons Outlook The post [27 Speaks Podcast] Jonathan Miller Provides A 2024 Hamptons Outlook first appeared on Miller Samuel Real Estate Appraisers & Consultants.
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Real Estate News
FEBRUARY 22, 2024
Amy Lessinger, former SVP of Region Development, takes over as president, while two other execs receive promotions.
Housing Wire
FEBRUARY 22, 2024
Existing-home sales picked up in January as buyers took advantage of the lowest mortgage rates seen in several months. Existing-home sales rose 3.1% from December to a seasonally adjusted annual rate of 4 million in January, according to a report from the National Association of Realtors (NAR). Year over year, sales dipped 1.7%, down from 4.07 million in January 2023.
Real Estate News
FEBRUARY 22, 2024
Sales rose by more than 3% in January, suggesting a turnaround in 2024, but mortgage rates still hold the key to the future of the market.
Housing Wire
FEBRUARY 22, 2024
When the Department of Justice (DOJ) revealed last week the changes it would like to see in how real estate agents and brokers are compensated through its statement of interest filed in the MLS Property Information Network commission lawsuit , few in the real estate industry were surprised by the agency’s desire to decouple commissions. In early September 2023, Steve Murray , the co-founder of RealTrends Consulting , told HousingWire that he believed this was a possible outcome.
Real Estate News
FEBRUARY 22, 2024
Zillow's Listing Showcase expands; HomeStack joins MoxiWorks network; Bright MLS adds SkySlope; Luxury Presence launches AI lead tool; Rechat adds partners.
Housing Wire
FEBRUARY 22, 2024
Despite slower housing market conditions , Big Four title firms Stewart , First American and Fidelity National Financial all managed to earn profits in 2023. Stewart, which reported its earnings earlier in February, posted a revenue of $2.26 billion in 2023 and a net income of $30.4 million. Both figures were down significantly from 2022 when it recorded $3.07 billion in revenue and net income of $162.3 million.
Real Estate News
FEBRUARY 22, 2024
Inventory is building as buyers stay on the sidelines, but there’s still hope for more activity as the spring shopping season gets underway.
Housing Wire
FEBRUARY 22, 2024
Late last year, the U.S. Department of Housing and Urban Development (HUD) Office of the Inspector General (OIG) announced the launch of an inquiry into Ginnie Mae ’s monitoring of now-bankrupt lender Reverse Mortgage Funding (RMF), and its extinguishment from the Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program. While the office has not yet issued any formal updates on the investigation, HUD Inspector General Rae Oliver Davis addressed the matter during a recent interview
Inman
FEBRUARY 22, 2024
The new franchise, led by owners Nicole and Doug Freer, will service clients in Houston's suburbs. The couple's team was No. 1 in Texas based on 2022 sales volume and transaction sides.
Housing Wire
FEBRUARY 22, 2024
A suspected fraudster nearly brought financial ruin to an elderly resident of London, Ontario in Canada , but an area reverse mortgage professional’s quick thinking is credited with leading to the suspect’s arrest, according to a news release from the London Police Service. Stemming from suspected fraudulent activity beginning in the summer of 2021, 28-year old Austin Acheson was arrested earlier this month for suspected fraud.
Inman
FEBRUARY 22, 2024
Mortgage giant reports positive adjusted earnings for the third consecutive quarter, "despite some of the most difficult industry conditions in three decades," CEO Varun Krishna says.
Housing Wire
FEBRUARY 22, 2024
Demand for existing homes — including REO assets — outpaces the available supply. Growing and changing is vital to expand your services and business growth so that you can tailor services in REO. Tiffany Fletcher, senior vice president of operations support and operational risk for VRM Mortgage Services , offers strategies for doing just that, showing how VRM is growing and changing during these unique times.
Inman
FEBRUARY 22, 2024
RE/MAX announced it was making changes to its executive team after revenue fell for a sixth consecutive quarter to end 2023. Amy Lessinger will succeed Bailey as president.
Housing Wire
FEBRUARY 22, 2024
As demand for homes continues to outpace new listings, CrossCountry Mortgage (CCM) is introducing a new cash-offer product, the company announced Thursday. The Cleveland -based retail mortgage lender unveiled CCM CashPlus to help buyers gain an edge in the bidding process by turning preapprovals into cash offers. CashPlus has no appraisal or financing contingencies.
Eyes on Housing
FEBRUARY 22, 2024
According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts declined somewhat during the fourth quarter of 2023. For the quarter, 102,000 multifamily residences started construction. Of this total, 98,000 were built-for-rent. The market share of rental units of multifamily construction starts fell back to a still elevated 96% for the fourth quarter as the.
Housing Wire
FEBRUARY 22, 2024
Delinquencies improved in January, highlighting the resiliency of U.S. mortgage holders. The national delinquency rate fell to 3.38% in January, down from 3.57% in December, according to the Intercontinental Exchange (ICE) First Look Mortgage Performance report. The rate remained flat on a year-over-year basis and was the lowest recorded since October.
Inman
FEBRUARY 22, 2024
The company best-known for its virtual brokerage brought in $983 million in revenue between October and December, even as a difficult market took a toll, according to Q4 earnings released Thursday.
Housing Wire
FEBRUARY 22, 2024
Nick Bailey is leaving RE/MAX. The firm announced the departure of its CEO and president on Thursday, along with its Q4 2023 and full year earnings. No reason was given for the departure. To fill Bailey’s vacant position, RE/MAX has promoted Amy Lessinger to president. Abby Lee and Susie Winders also received promotions, with Lee being named executive vice president of marketing, communications and events, while Winders is the company’s new executive vice president of general counsel.
Eyes on Housing
FEBRUARY 22, 2024
Confidence in the market for new multifamily housing was in negative territory for the fourth quarter, according to results from the Multifamily Market Survey (MMS) released today by the National Association of Home Builders (NAHB). The MMS produces two separate indices. The Multifamily Production Index (MPI) had a reading of 41 – below the break-even point of 50 – while.
Housing Wire
FEBRUARY 22, 2024
Fintech FundingShield will provide comprehensive title fraud solutions via an advanced programming interface (API) integration to CoreLogic ‘s digital mortgage platform. The partnership comes amid wire and title fraud risk reaching an all-time high in fourth-quarter 2023. About 52% of transactions had issues that led to a risk of wire and title fraud, according to FundingShield.
Inman
FEBRUARY 22, 2024
Learn why, for this Arizona luxury broker, real estate is a family affair, and find out how mentorship has helped her grow her impact.
Housing Wire
FEBRUARY 22, 2024
Arizona Regional MLS and Wisconsin -based Metro MLS are looking to have the antitrust lawsuit filed against them by Zillow Group and ShowingTime dismissed. Filed in late December 2023, the lawsuit alleges that ARMLS, Metro MLS and the parent company of showing platform Aligned Showings, MLS Aligned, are “unlawfully attempting to monopolize the market for real estate showing management services in the geographic regions they control and from unlawfully conspiring to exclude or severely limit Show
Inman
FEBRUARY 22, 2024
Learn how Boston team leader Josh Muncey built his business through community presence, networking and smart leverage.
Housing Wire
FEBRUARY 22, 2024
HousingWire Editor in Chief Sarah Wheeler sat down with Jason Cave , former deputy director at the FHFA where he ran their FinTech Office, to talk about where mortgage tech is falling short, and what the government should do to help. Sarah Wheeler: What led you to leave FHFA for the private sector? Jason Cave: I spent 30 years in the government — 27 at FDIC and three at FHFA.
Inman
FEBRUARY 22, 2024
Get acquainted with some of our exciting, world-class headliners, and grab your tickets for Inman Connect Miami.
Chicagoland Appraisal Blog
FEBRUARY 22, 2024
When it comes to home appraisals, the question of whether or not to ask the appraiser to remove their shoes can be a common concern for homeowners. While some may feel hesitant about requesting this, it’s important to remember that your comfort in your home matters. Asking the appraiser to take off their shoes is entirely reasonable and understandable.
Inman
FEBRUARY 22, 2024
New Inman contributor Lindsey Harn writes that accessory dwelling units offer a wide variety of benefits for all kinds of renters, from college students to elderly family members.
BiggerPockets
FEBRUARY 22, 2024
Virtual house flipping can be an exciting, lucrative way to get involved in real estate investing. But as with as any type of investment, it’s important to understand the finer details to determine where you fit in.
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