Housing Wire

APRIL 5, 2024

Today’s jobs report beat estimates , but the internals show the labor market is softening, as the Federal Reserve wants. The data shows that wage growth is cooling down and the job opening quits rate is below pre-COVID-19 levels. This bodes well for those hoping to see a soft landing, and for those hoping for lower mortgage rates. The 10-year yield has had a wild ride today, but now is an excellent time to look at my macro take on the labor market and explain what the Fed is looking for wi

Marketing 485

Marketing Mortgage Construction Government 485

Real Estate News

APRIL 5, 2024

Ruling could lead to further changes in industry practices by allowing the Department of Justice to revisit an antitrust case originally settled in 2020.

321

321

Housing Wire

APRIL 5, 2024

Ginnie Mae this week issued a public notice to its issuer partners warning of an observation of higher prepayments in some of its mortgage-backed securities (MBS) programs, reminding issuers that a violation of its requirements could result in punitive action. In a prior All Participants Memorandum (APM) issued in December 2017 , Ginnie Mae described how it monitors prepayments in its MBS programs.

Government 485

Government Mortgage Marketing 485

Real Estate News

APRIL 5, 2024

The brokerage giant announced that its chief strategy officer will assume the CEO role, taking over from founder and eXp World Holdings CEO Glenn Sanford.

Realty 262

Realty Brokerage 262

Housing Wire

APRIL 5, 2024

The number of first-time homebuyers made up 32% of all buyers in 2023, according to a report released by the National Association of Realtors. Millennials comprised 75% of this demographic, with older millennials and Generation X (ages 44 to 58) accounting for 44% and 24% of first-time buyers. Against that backdrop, Zillow identified prime markets for first-time homebuyers , and half of them were nestled in the Midwest.

Housing Market 457

Housing Market Marketing Training New Listings 457

Appraisal Buzz

APRIL 5, 2024

The rate of defects in mortgages post-closing fell to 1.67% in the third quarter of 2023, according to ACES’ Q3 2023 Mortgage QC Trends Report. That’s a decrease of 2.91% compared with the second quarter of 2023. It was the fourth consecutive quarter that the rate of defects decreased – the result of low mortgage origination volume. Defects in the Credit and Income/Employment categories decreased significantly, while defects in the Liabilities category increased.

Mortgage 195

Mortgage Lending Appraisal Marketing 195

Appraisal Buzz

APRIL 5, 2024

Roughly 303,000 jobs were added to the U.S. economy in March – above expectations and far higher than the average monthly gain of 231,000 over the prior 12 months – while the unemployment rate remained flat at 3.8%, according to the U.S. Bureau of Labor Statistics. The highest job gains occurred in health care, government, and construction. About 6.4 million people were unemployed as of the end of the month – basically flat compared with February.

Construction 195

Construction Government Appraisal Marketing 195

Housing Wire

APRIL 5, 2024

In a filing earlier this week, HomeServices of America asked Judge Stephen Bough, who is overseeing the Sitzer/Burnett commission lawsuit , to deny the plaintiffs motion for entry of judgement. In their mid-March filing, the Sitzer/Burnett plaintiffs asked the court to order HomeServices of America, the sole remaining defendant in the suit, to pay $4.7 billion in damages.

Brokerage 421

Brokerage Sellers Law Contracts 421

Inman

APRIL 5, 2024

In another loss for the National Association of Realtors, the court ruled the U.S. Department of Justice can reopen its investigation into rules around commission sharing.

Realtors 199

Realtors Agents 199

Housing Wire

APRIL 5, 2024

Reverse mortgage professionals in Massachusetts will be reliant on their borrowers’ ability to complete their required counseling sessions under the state’s face-to-face mandate following the expiration of a provision temporarily relaxing the standard that expired on April 1. This is according to prior legislative documents reviewed by RMD and an announcement this week by the National Reverse Mortgage Lenders Association (NRMLA).

Mortgage 420

Mortgage Law Business Development 420

Inman

APRIL 5, 2024

That includes benefits for first-time homebuyers, who might be better served by inexperienced agents. However, some benefits require changes from mortgage lenders, consumer watchdog says.

Buyers 184

Buyers Agents Mortgage Realtors 184

Housing Wire

APRIL 5, 2024

To paraphrase Mark Twain, history may not repeat itself, but it does rhyme. The U.S. mortgage industry recently had to remind itself of this fact when a CNN analysis found that the nation’s largest credit union, Navy Federal, has the widest disparity in mortgage approval rates between white and black borrowers of any major lender. The report, released back in December, noted that Navy Federal Credit Union approved more than 75% of white borrowers who applied for a new conventional home pur

Mortgage 417

Mortgage Lending Buyers Property Management 417

Inman

APRIL 5, 2024

Hunterbrook Media founder dismisses Ishbia's take as "baseless conspiracy theory", while Rocket says it and founder Dan Gilbert have no financial interests or relationship to Hunterbrook.

Mortgage 181

Mortgage 181

Housing Wire

APRIL 5, 2024

The U.S. economy added another 303,000 jobs in March, exceeding economists’ expectations, and well above the average monthly gain of 231,000 jobs over the prior 12 months. Jobs increased in March, up from a revised rate of 270,000 in February , according to data released by the Bureau of Labor Statistics on Friday. The national unemployment rate changed little at 3.8%, down from 3.9% in February, and still below the full employment rate of 4%.

Mortgage 348

Mortgage Transportation Construction Housing Market 348

Inman

APRIL 5, 2024

Pareja, who joined eXp Realty in 2022, previously served as its chief strategy officer. Founder Glenn Sanford will remain with the firm as CEO of parent company eXp World Holdings.

Realty 171

Realty Realtors Brokerage Agents 171

Real Estate News

APRIL 5, 2024

Jennifer Berman most recently served as COO of Direct Offer and was a cast member on the CNBC series “Listing Impossible.

Agents 181

Agents 181

Inman

APRIL 5, 2024

Property management software company Colleen has added voice-based interaction to its artificial intelligence rent collection solution, five months after its initial launch.

Property Management 171

Property Management Technology 171

Eyes on Housing

APRIL 5, 2024

Job growth accelerated in March, following a strong gain in February. Furthermore, the unemployment rate fell to 3.8%. March’s jobs report shows that the labor market remains resilient despite elevated interest rates. The strong job numbers likely reduce prospects for a Federal Reserve rate cut in the near-term (NAHB has just two rate cuts in.

Marketing 143

Marketing Construction 143

Inman

APRIL 5, 2024

Luxury agent and new Inman contributor Beckie Nielsen offers insight on making client service more personal, more meaningful and, ultimately, more effective.

Real Estate 180

Real Estate Clients Agents Realtors 180

GoForrmz

APRIL 5, 2024

Revolutionizing manufacturing with predictive maintenance In the realm of manufacturing, efficiency is paramount. Every minute of downtime, every unexpected equipment failure, and every inefficiency in the production process can translate to lost revenue and decreased productivity. However, in recent years, the advent of predictive maintenance has revolutionized how manufacturers approach equipment upkeep and production optimization.

Technology 78

Technology Business 78

Inman

APRIL 5, 2024

The LA luxury powerhouse passed away peacefully in her home on Tuesday. Industry professionals shared with Inman the many ways in which Berman touched their lives.

Agents 176

Agents Real Estate 176

Appraisal Today

APRIL 5, 2024

Why an Organized Workfile is Your Best Defense By Craig Capilla Excerpts: We all know that the Uniform Standards of Professional Appraisal Practice (USPAP) set the baseline for what must be included in a workfile. We’ve all also heard ad nauseum that USPAP is a minimum standard. Still, all too many appraisers seek only to meet that minimum standard and little more.

Appraisal 75

Appraisal Contracts Business Construction 75

Inman

APRIL 5, 2024

Dive into a discussion with industry leaders as they share valuable tactics for effectively communicating the value you bring to transactions.

Agents 187

Agents 187

BiggerPockets

APRIL 5, 2024

Insurance premiums are skyrocketing across the U.S., with no end in sight to annual increases that may just make you rethink investing in real estate in several parts of the country.

Insurance 82

Insurance Real Estate Investing 82

Inman

APRIL 5, 2024

First-time homebuyers made up half of all homebuyers in St. Louis in 2023, according to Zillow. That's the highest share the city has seen since at least 2017.

Buyers 175

Buyers Marketing 175

BiggerPockets

APRIL 5, 2024

Depending on the college, students nationwide looking to live at school have recently found themselves staying in luxury hotels, trailers, on friends’ couches, or Zooming in to class from their […]

Real Estate 79

Real Estate 79

Inman

APRIL 5, 2024

Broker Julie Busby shares tips for making messages around HELOCs and real estate investing a centerpiece of your springtime content marketing efforts.

Agents 176

Agents Real Estate Investing Marketing 176

BiggerPockets

APRIL 5, 2024

During much of the year, this short-term, two-bedroom rental in Indio, California, a lovely, quiet, desert town about 35 minutes past Palm Springs, hovers around $172 a night.

74

74

Inman

APRIL 5, 2024

Inman sat down with Raveis following his firm's 50-year anniversary to discuss what it takes to lead a brokerage for half a century.

Real Estate 183

Real Estate Brokerage 183

Mortgagebroker News

APRIL 5, 2024

CMHC sees short-term decline in construction, but long-term optimism remains

Construction 79

Construction 79

Inman

APRIL 5, 2024

Looking for a quick catch-up on the buzziest stories of the week? Here’s Inman Top 5, the most essential stories, according to Inman readers.

Brokerage 170

Brokerage Agents 170

Mortgagebroker News

APRIL 5, 2024

Tech-focused brokerage launches all-in-one platform to streamline deal origination

Brokerage 45

Brokerage Mortgage 45

Inman

APRIL 5, 2024

Real estate maven Barbara Corcoran tells the industry to calm down following the furor over NAR's commission lawsuit settlement.

Real Estate 179

Real Estate Brokerage Agents 179

Mortgagebroker News

APRIL 5, 2024

Liberals announce new funding as part of pre-budget housing push

45

45