Housing Wire

MARCH 21, 2024

Equifax’s Work Number product is too expensive for consumers and the Federal Housing Administration ( FHA ) and Federal Housing Finance Agency ( FHFA ) should potentially do something about it, an influential mortgage trade group argued this week. In a letter submitted to FHA commissioner Julia Gordon and FHFA director Sandra Thompson on Thursday, the Community Home Lenders of America ( CHLA ) expressed concern that the cost of employment verifications charged by Equifax is “excessive” as

Insurance 458

Insurance Legal Finance Mortgage 458

Appraisal Buzz

MARCH 21, 2024

Existing-home sales were at a seasonally adjusted annual rate of 4.38 million in February, an increase of 9.5% compared with January but down 3.3% compared with February 2023, according to the National Association of Realtors (NAR). It was the largest monthly increase since February 2023. Helping to boost existing-home sales in February was that inventory increased 1.07 million by the end of the month – up 5.9% compared with January and up 10.3% compared with February 2023.

Inventory 394

Inventory Realtors Investors Buyers 394

Housing Wire

MARCH 21, 2024

HousingWire Editor in Chief Sarah Wheeler sat down with Shayan Hamidi, CEO of Rechat , to talk about how he picks the right problems to solve, the incredible pace of AI innovation, and finding the joy in work. Sarah Wheeler: Let’s talk about your background, because you have both technology and real estate experience. Shayan Hamidi: I studied computer science, economics and math and my background is technology.

Real Estate 450

Real Estate Technology Agents Brokerage 450

Appraisal Buzz

MARCH 21, 2024

Join us for today’s episode of the Appraisal Buzzcast, as host Hal Humphreys interviews Malinda Griffin, incoming President of the NAA. Malinda talks about her experience with the NAA, what’s to come in the future, and why she believes appraiser conferences and networking are so crucial for both appraisers and trainees. The ACTS conference is only a month away!

Appraisal 195

Appraisal Valuation 195

Housing Wire

MARCH 21, 2024

While the news of the National Association of Realtors’ settlement agreement in the commission lawsuits may have created panic at some brokerages , local Realtor associations and Multiple Listing Services (MLSs) said they were not only anticipating the news but were prepared for it. “We’ve been scenario planning for quite some time, and it was not a scenario we have not already planned for,” said Art Carter, CEO of the California Regional MLS (CRMLS).

Realtors 431

Realtors Agents Real Estate Logistics 431

Appraisal Buzz

MARCH 21, 2024

After decreasing the previous two weeks, mortgage rates went back on the rise this week, with the average rate for a 30-year, fixed-rate mortgage increasing to 6.87%, up from 6.74% last week, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago at this time, the average rate for a 30-year was 6.42%. “After decreasing for a couple of weeks, mortgage rates are once again on the upswing,” says Sam Khater, chief economist for Freddie Mac, in a statement.

Mortgage 195

Mortgage Construction Inventory Housing Market 195

Appraisal Buzz

MARCH 21, 2024

Multistate mortgage lender Click n’ Close is now a preferred partner with The Mortgage Collaborative (TMC), a consortium dedicated to providing mortgage lenders with access to technology and mortgage banking resources. As a result, TMC’s members will have access to SmartBuy, a proprietary suite of down payment assistance (DPA) loan programs offered by Click n’ Close designed to give homebuyers an advantage in today’s heightened mortgage interest rate environment.

Mortgage 195

Mortgage Design Insurance Finance 195

Housing Wire

MARCH 21, 2024

Mike Fratantoni , the chief economist and senior vice president of research and industry technology at the Mortgage Bankers Association (MBA), addressed three major challenges in the housing market during testimony before the U.S. House of Representatives ‘ Financial Services Subcommittee on Housing and Insurance. The biggest challenge in today’s housing market is the lack of inventory , Fratantoni said in his written statement on Wednesday.

Insurance 426

Insurance Inventory Mortgage Lending 426

Appraisal Buzz

MARCH 21, 2024

Jason Cave, former chief fintech officer and deputy director for the FHFA, has joined the board of advisors at Argyle , a provider of automated income and employment verifications for mortgage lenders. The 30-year government veteran is an internationally recognized leader in bank supervision and an outspoken advocate for housing finance innovation, Argyle says in a release.

Government 195

Government Finance Technology Modernization 195

Housing Wire

MARCH 21, 2024

Redfin is expanding an agent compensation plan it launched last year by adding seven new markets starting in May, the national real estate brokerage announced Thursday. Initially launched in October 2023 as Redfin Max, the compensation plan was rebranded soon after as Redfin Next and grew to include agents in the California markets of Los Angeles, San Francisco, San Diego and Orange County.

Agents 421

Agents Marketing Brokerage Real Estate 421

Real Estate News

MARCH 21, 2024

Redfin Next, which offers “competitive splits” while continuing to provide agents with employee benefits, has expanded to major markets across the U.S.

Agents 248

Agents Marketing 248

Housing Wire

MARCH 21, 2024

More people seem to be aware of the potential utility that a reverse mortgage could provide for older homeowners, including as a tool to age in place and to provide greater cash flow in retirement. This is according to survey results published this week by WSFS Mortgage , a division of WSFS Bank. “[M]ost homeowners with knowledge of reverse mortgages agree they can allow you to stay in your home longer (79%) and provide needed cash flow (76%) in retirement,” the results explained.

Mortgage 421

Mortgage Property Taxes Advertising Finance 421

Real Estate News

MARCH 21, 2024

While home sales still aren’t as strong as they were in 2023, the near-10% jump in February “is a good sign” — but the momentum may not last.

248

248

Housing Wire

MARCH 21, 2024

Planet Home Lending hired Matt Kingsborough as regional sales manager, the Connecticut-based lender, servicer and asset manager announced Thursday. Kingsborough has more than 20 years of experience in mortgage lending and will be responsible for driving the company’s expansion plans in the western U.S. “Stepping into Planet Home Lending marks a pivotal chapter in my career,” Kingsborough said in a statement.

Lending 420

Lending Retail Contracts Construction 420

Inman

MARCH 21, 2024

They asked the court for more time to analyze the impact on their proposed settlement of NAR's proposed rule change banning the MLS display of commissions offered to buyer brokers.

Buyers 190

Buyers Realtors Brokerage Agents 190

Real Estate News

MARCH 21, 2024

A new Realtor.com report concludes that the best time to list in 2024 is right around the corner.

Sellers 225

Sellers Agents 225

Inman

MARCH 21, 2024

In pursuit of a bigger slice of an estimated $14 billion market after Black Knight acquisition, Intercontinental Exchange signs 37 new Encompass clients and four new servicing clients.

Clients 190

Clients Mortgage Marketing Insurance 190

Real Estate News

MARCH 21, 2024

Homebuyers may have more choices, but financing continues to be challenging.

Finance 221

Finance Mortgage 221

Inman

MARCH 21, 2024

The strategic promotions will help "drive the next era of Realty One Group's unprecedented global growth," as the franchiser continues its quest to grow to 30,000 agents.

Realty 187

Realty Agents Real Estate Brokerage 187

Eyes on Housing

MARCH 21, 2024

Despite the rising mortgage rates witnessed in February, existing home sales continued to improve and climbed to a 12-month high, according to the National Association of Realtors (NAR). However, low resale inventory and strong demand continued to drive up existing home prices, marking the eighth consecutive month of year-over-year median sales price increases.

Realtors 158

Realtors Inventory Mortgage 158

Inman

MARCH 21, 2024

Seattle-based brokerage Redfin has expanded its commission-based payment model, Redfin Next, to agents in Chicago, Connecticut, Dallas, Miami, New York, Palm Beach and Washington, D.C. Redfin execs said Redfin Next will help them navigate market "ups and downs," including the NAR settlement.

Marketing 184

Marketing Brokerage Agents 184

Empire Appraisal Group

MARCH 21, 2024

Florida is now home to the most expensive for sale listing in the US The most expensive home for sale in the U.S. goes up in Naples The most expensive home for sale in the U.S. hit the market this week for $295 million. Gordon Pointe, as it’s called, is a roughly 9-acre compound in Naples, Florida, on the Gulf Coast, in an affluent enclave called Port Royal.

Appraisal 78

Appraisal Marketing Home Value 78

Inman

MARCH 21, 2024

Find out how this broker-owner left his role as a marketer for brands like Patron Tequila, the Dallas Mavericks and SMU Athletics to lead — and grow — a real estate company.

Real Estate 176

Real Estate Marketing Brokerage 176

BiggerPockets

MARCH 21, 2024

With inflation hovering slightly north of 3%, the Federal Reserve’s meeting this week and its decision to leave interest rates where they are were seen by many as inevitable.

80

80

Inman

MARCH 21, 2024

An eye-popping property owned by celebrity plastic surgeon Dr. Paul Nassif will head to auction during Season 2 of the reality TV show. Will it command the desired price?

Brokerage 186

Brokerage 186

BiggerPockets

MARCH 21, 2024

Please be advised: this podcast episode contains discussions about sensitive topics, including suicide, which may be distressing for some listeners.

Investing 75

Investing 75

Inman

MARCH 21, 2024

A Sydney listing agent accidentally burned down her client's $3 million home. Five years after the accident, her broker has been ordered to pay $850K in damages.

Open Houses 180

Open Houses Agents Clients Real Estate 180

Lamacchia Realty

MARCH 21, 2024

March 18, 2024 – The Wall Street Journal has quoted Anthony Lamacchia in their new article regarding the buyer commission lawsuit that the National Association of REALTORS® has been fighting over the last several months. The article discusses the proposed settlement of the suit and mentions how REALTORS® everywhere are wrapping their heads around the shift in how they will be paid.

Development 60

Development Realtors Government Buyers 60

Inman

MARCH 21, 2024

Listing agents have less than a month to prepare homesellers for the spring housing season, according to Realtor.com's annual "Best Day to Sell" analysis, published on Thursday. This year, the portal says the week of April 14 is the best time to close a deal as fluctuating mortgage rates have a dual effect on the market.

Agents 170

Agents Mortgage Marketing 170

BiggerPockets

MARCH 21, 2024

A bombshell NAR settlement could bring wide-sweeping changes to the housing market.

Realtors 80

Realtors Housing Market Marketing Real Estate 80

Inman

MARCH 21, 2024

ChatGPT answered questions about the value a real estate agent has and about how real estate commissions work. Do you agree with its answers?

Agents 193

Agents Real Estate Agent Real Estate 193

Lamacchia Realty

MARCH 21, 2024

March 20, 2024 – Anthony Lamacchia was recently featured in Bloomberg Government regarding the National Association of REALTORS® Buyer Commission lawsuit. Since it was announced last Friday that a settlement has been reached, Anthony, who throughout the ongoing class-action lawsuit has been an outspoken supporter of NAR, released a statemen t, spoke on Boston25 News about the misconceptions that have been circulating the media, and even voiced his thoughts in a new Wall Street Journal arti

Government 53

Government Realtors Buyers Realty 53

Inman

MARCH 21, 2024

ERA Real Estate vice president, and new Inman contributor, Lee Ann Roughton shares practical ways to help all women in real estate rise together.

Real Estate 180

Real Estate Brokerage Agents 180

Mortgagebroker News

MARCH 21, 2024

'I am completely discouraged that so little has changed'

Government 78

Government 78