Housing Wire
OCTOBER 16, 2023
The trough for the mortgage origination market is nearing an end point and 2024 is shaping up to be a better year for the industry, economists of the the Mortgage Bankers Association (MBA) said at the 2023 Annual Convention & Expo in Philadelphia, Pennsylvania. The MBA doesn’t expect the Federal Reserve to hike interest rates further this year as real rates – which are inflation-adjusted– are 2%.
Real Estate News
OCTOBER 16, 2023
Lawyers jostled for position and weeded out ineligible jurors, including many who are members of the plaintiff class (Missouri home sellers).
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Housing Wire
OCTOBER 16, 2023
Generative artificial intelligence (AI) has tremendous potential to cut costs and improve customer experience, but regulation has not caught up to develop a governance program, industry pros said of AI’s implementation in mortgage lending. Bias, discrimination, privacy and security concerns related to consumer information are some of the biggest risks in implementing generative AI, noted Brian Stucky, lead at Rocket Ethical AI at Rocket Mortgage. “We still do not have AI-specific regulati
Real Estate News
OCTOBER 16, 2023
Overall filings remain low but economic stress in the form of increasing credit card debt and depleted savings could push them higher.
Housing Wire
OCTOBER 16, 2023
The long-anticipated Sitzer/Burnett class action commission lawsuit enters its first day in court on Monday, leaving real estate professionals to ponder the fate of today’s cooperation and commission practices. At the crux of the case is the allegation that commission rates are too high, it’s unfair that the seller pays the buyer’s agent’s commission, and that the National Association of Realtors’ (NAR) Code of Conduct and MLS Handbook lead to set pricing.
Inman
OCTOBER 16, 2023
The long-awaited Sitzer | Burnett commission trial is underway in Kansas City, Missouri, and Inman is covering it all live as it unfolds. Check back early and often for news, views, schedules and more.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Inman
OCTOBER 16, 2023
With the sweeping changes in society, technology and economics over the past century, the differences in how each generation thinks, speaks, and makes decisions about luxury real estate opportunities have never been more pronounced.
Housing Wire
OCTOBER 16, 2023
HousingWire recently spoke to Alex Elezaj, chief strategy officer at UWM , about the work independent mortgage brokers can do right now to prepare for when rates drop and how to go above and beyond for clients. HousingWire: Why should independent mortgage brokers embrace today’s market? Alex Elezaj: It’s only a matter of time before rates drop, and when they do, there will be a clear difference between those who have been preparing and those who have not.
Inman
OCTOBER 16, 2023
A report released Oct. 4 by the investment banking firm Keefe, Bruyette & Woods forecasts commissions to decline by at least 30 percent as a result of ongoing threats to the real estate industry.
Housing Wire
OCTOBER 16, 2023
Regarding lenders’ vociferous complaints about increased loan buybacks from Fannie Mae and Freddie Mac , FHFA Director Sandra Thompson said the regulator expects originators to deliver loans consistent with the guidelines. But, she added, the Enterprises must implement a fair, consistent, and predictable process for identifying loan defects and the appropriate remedies. “After multiple years of record-high loan volume, we have seen an increase in the absolute number of repurchase
Realtor
OCTOBER 16, 2023
Getty Images While buying a home has always been a challenging milestone, today’s high interest rates have made this dream even harder to achieve. Over the past two years, interest rates on home loans have nearly doubled from the 3% range to around 7% today. This tacks many hundreds extra onto the monthly expense of housing, stretching some homebuyers’ budgets to the breaking point.
Housing Wire
OCTOBER 16, 2023
Today, the first class action commission lawsuit goes to trial in Kansas City, Missouri. While two of the defendants — Anywhere and RE/MAX — have settled in the case , those settlements have not been finalized. The National Association of Realtors , Keller Williams , and Berkshire Hathaway are still going to court to fight the allegations. Regardless of the outcome, real estate brokers are doing all they can to prepare their brokerages and their agents for more transparency, education on the val
Inman
OCTOBER 16, 2023
The allegations, the high-profile witnesses slated to testify and all the evidence the jury will and won't see — it's all here as the long-awaited Sitzer | Burnett commission trial unfolds this week.
Housing Wire
OCTOBER 16, 2023
The Federal Housing Finance Agency ( FHFA ) announced on Monday morning that it will treat, in some aspects, loans in COVID-19 forbearance similar to those in natural disaster forbearance. The change, to be implemented on Oct. 31, means pandemic-related forbearance mortgages will remain eligible to certain rep and warrant relief based on the borrowers’ payment history for three years.
Inman
OCTOBER 16, 2023
The plan to move to a bi-merge process allowing lenders to use two, instead of three, credit reports was announced last October by Fannie and Freddie's federal regulator.
Housing Wire
OCTOBER 16, 2023
In August, Zillow ‘s 2023 Consumer Housing Trends Report proclaimed that half of all homebuyers are purchasing their first home, the highest share that Zillow has ever recorded. Up from 45% last year and a notable increase from 37% in 2021, the report also mentioned that this share of first-time homebuyers likely hasn’t been this high since 2010, when there was a first-time homebuyer tax credit.
Eyes on Housing
OCTOBER 16, 2023
Over the first eight months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 615,453. On a year-over-year (YoY) basis, this is 15.6% below the August 2022 level of 728,866. Year-to-date ending in August, single-family permits declined in all four regions. The range of permit decline spanned 10.7% in the Northeast to 21.7% in the West.
Housing Wire
OCTOBER 16, 2023
Philadelphia Federal Reserve President Patrick Harker advocated for stopping interest rate hikes, noting that disinflation is under way. “I believe that we are at the point where we can hold rates where they are,” Harker said at the 2023 Mortgage Bankers Association Annual Convention & Expo in Philadelphia on Monday. “Disinflation is under way, labor markets are coming into better balance, and economic activity continues to be resilient…By doing nothing, we are doing someth
Inman
OCTOBER 16, 2023
This year's event, which will focus on the theme of storytelling, will highlight how agents can leverage AI, storytelling, best recruitment practices and more to grow their businesses.
Appraiserblogs
OCTOBER 16, 2023
“Many of the repurchase letters make no sense,” said the insider. If analysts don’t write enough defects on those files, they get hammered. If analysts fall short of their peers in “production points,” it’s considered their fault, said the insider. At the heart of Fannie Mae’s valuation system is a tool that shunts a subset of the millions of loans purchased by the mortgage giant each year into a “high risk” pool.
Inman
OCTOBER 16, 2023
Get past the front door AND the trash can by giving homeowners the information they need now, say DOORA’s Janet Pozos and Ernesto Vargas, the self-proclaimed door-knocking champion.
GoForrmz
OCTOBER 16, 2023
“ Our team can now fill out their form in 5 minutes rather than spending half an hour on this detailed report. ” — Mauricio Silva, Machine Process Coordinator and Project Manager, Eurotech About Eurotech Eurotech, the North American partner of Europe's top manufacturers of advanced CNC turning and milling machinery, prides itself on offering innovative design, world-class manufacturing, and old-world craftsmanship that are unmatched in the industry.
Inman
OCTOBER 16, 2023
If you're thinking of investing, check out this house hack for building the rental investment portfolio of your dreams with renovation mortgage specialist Chico Fisher.
BiggerPockets
OCTOBER 16, 2023
Rent control has been around for a long time, and it still doesn't work. Why are governments around the country so insistent on it, and why don't we learn our lessons?
Inman
OCTOBER 16, 2023
The Centennial State’s largest multiple listing service has entered into a relationship with Lundy, a software company that translates property databases into voice search-capable applications for the vision-impaired.
BiggerPockets
OCTOBER 16, 2023
First, the RE/MAX settlement, now this. Realtors are worried about their careers, and investors should be paying attention. Here's what's going on.
Inman
OCTOBER 16, 2023
Whether you're hosting or sponsoring, trunk-or-treat events are a great way to give back to your community while promoting your business. Coach Darryl Davis offers tips for connecting this Halloween.
Lamacchia Realty
OCTOBER 16, 2023
What a fabulous trip to the Bahamas it was for the 2022 Lamacchia Realty President’s club! This was an all-inclusive, all-expense paid trip to the Atlantis Resort in the Bahamas where members spent a week filled with plenty of fun and activities including a visit to Pearl Island, ample opportunities to lounge on the beach and by the pool, and group dinners out on the town to celebrate their successes!
Inman
OCTOBER 16, 2023
It’s a weird thing for a software CEO to say that real estate doesn’t need more software. But here at Lone Wolf, we know it’s true. So do agents and brokers.
Mortgagebroker News
OCTOBER 16, 2023
After a lengthy process to get up and running, founder sees significant opportunities in the space
Inman
OCTOBER 16, 2023
Workforce and affordable housing options make communities better and stronger. Broker and advocate Nora Crosthwaite shares strategies to help encourage them in your market.
BiggerPockets
OCTOBER 16, 2023
Stay ahead of the market. Here's what real estate will look like for the next few months.
Inman
OCTOBER 16, 2023
Home prices increased 0.7 percent between August and September of 2023, and were up 6.7 percent annually, according to a new report.
Mortgagebroker News
OCTOBER 16, 2023
The market remains sluggish amid high interest rates and cooler demand
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