Housing Wire

MAY 9, 2024

After months of uncertainty, the real estate industry has a reason to celebrate, at least a little bit. Judge Stephen Bough has granted final approval to the commission lawsuit settlement agreements reached by Anywhere , RE/MAX and Keller Williams on Thursday. As part of their settlement agreements, Anywhere, RE/MAX and Keller Williams have agreed to pay $83.5 million , $55 million and $70 million , respectively.

Brokerage 378

Brokerage Realty Sellers Real Estate 378

Appraisal Buzz

MAY 9, 2024

Despite higher mortgage rates, more than 90% of U.S. metros posted home price gains in the first quarter, according to the National Association of Realtors (NAR). “Astonishingly, greater than 90% of the country’s metro areas experienced home price growth despite facing the highest mortgage rates in two decades,” says Lawrence Yun, chief economist for NAR, in a statement.

Mortgage 378

Mortgage Realtors Marketing Appraisal 378

Housing Wire

MAY 9, 2024

Despite the necessary requirement for a homeowner to maintain insurance on their property for protection against human- and naturally-occurring disasters, the impacts of climate change are creating “natural” scenarios that are increasingly not covered by insurance. Such instances are accelerating in different parts of the country, leading insurers to drastically increase their prices, or, in some cases, pull out of areas they deem problematic.

Insurance 350

Insurance Finance Real Estate 350

Appraisal Buzz

MAY 9, 2024

The average rate for a 30-year fixed-rate mortgage fell to 7.09% this week, down from 7.22% the previous week, according to Freddie Mac’s Primary Mortgage Market Survey. It was the first time in five weeks that mortgage rates decreased. “After a five-week climb, mortgage rates ticked down following a weaker than expected jobs report,” says Sam Khater, chief economist for Freddie Mac, in a statement.

Mortgage 365

Mortgage Sellers Buyers Appraisal 365

Housing Wire

MAY 9, 2024

Social Security is often the centerpiece of seniors’ fixed income in later life, and while predictions remain limited for the life of the program’s trust fund, there was some good news recently from the Social Security Board of Trustees this week: the fund will last a year longer than predicted in 2023. “The combined asset reserves of the Old-Age and Survivors Insurance and Disability Insurance (OASI and DI) Trust Funds are projected to have enough dedicated revenue to pay all scheduled benefits

Insurance 345

Insurance 345

Cleveland Appraisal Blog

MAY 9, 2024

Last year I purchased a pickleball set and have threatened to give it a try. It’s on me and my wife’s list of things to do this summer. We’ve determined that while we could throw our back out just standing up, bending over to pick something up, or sneezing, we still need to keep moving. According to the article below, “Nearly 70% of adults reported reduced stress and anxiety after playing pickleball, and 64% called the sport “uplifting,” according to a report

Inventory 344

Inventory Appraisal Real Property Property Appraisal 344

Real Estate News

MAY 9, 2024

Despite a last-minute motion to delay the hearing, the proceedings went on as scheduled, ending buyer agent commissions litigation for the three brokerages.

Brokerage 264

Brokerage Agents Buyers 264

Housing Wire

MAY 9, 2024

Despite a challenging operating environment and broader concerns among industry professionals about connecting with new borrowers, the reverse mortgage industry’s key performance indicators showed improvements last month. Home Equity Conversion Mortgage (HECM) endorsements increased by 2.3% to 2,105, while HECM case numbers also trended higher, continuing a streak of consecutive monthly increases.

Mortgage 295

Mortgage Finance Marketing Business 295

Appraisal Buzz

MAY 9, 2024

PERSON OF THE WEEK: At a time of lower-profit margins, a growing number of mortgage lenders are looking to lift their balance sheets by offering construction-to-per loans. This has led to the current boom in construction loan administration software designed to manage and simplify these complex products. But when it comes to construction lending technology, the options are as vast as they are unique.

Construction 195

Construction Lending Technology Design 195

Housing Wire

MAY 9, 2024

Rocket Companies , the parent company of Rocket Mortgage , hired its first chief technology officer this week, bringing former Thomson Reuters and Intel executive Shawn Malhotra into the fold. The hire is Rocket’s latest move to bolster its already robust investment in artificial intelligence. Varun Krishna, Rocket Companies CEO, sat down with HousingWire CEO Clayton Collins at The Gathering event several weeks ago to talk about the company’s AI strategy and their new AI tool, Synopsis.

Clients 287

Clients Technology Tools Loan Officers 287

Appraisal Buzz

MAY 9, 2024

GenWay Home Mortgage Inc., a GNMA Issuer headquartered in Richardson Texas, has joined the NHAP, a cloud-based technology solution seamlessly connecting key stakeholders in the residential mortgage banking industry on a unified, single-sign-on platform. Through the HomePrep module within the NHAP, HUD-approved counseling agencies (HCAs), connect to other NHAP participants like state housing finance agencies, Freddie Mac, independent mortgage bankers, state-chartered and national banks, private

Mortgage 195

Mortgage Training Technology Finance 195

Housing Wire

MAY 9, 2024

Guild Holdings Company , parent company of Guild Mortgage , recorded a 6% increase in mortgage originations and much higher revenue levels in the first quarter of 2024 than in 2023. Net income saw substantial improvements as the company continues to pursue an active acquisition strategy, according to an earnings report for Q1 released on Thursday. “I am pleased to report that our first-quarter results demonstrate the continued success and disciplined execution of our strategy with growth in orig

Inventory 279

Inventory Technology Business Mortgage 279

Real Estate News

MAY 9, 2024

After five weeks of increases, rates pulled back slightly, but rising home prices and record-high mortgage payments continue to hamper affordability.

Buyers 247

Buyers Mortgage 247

Housing Wire

MAY 9, 2024

UWM Holdings Corp. , the parent of United Wholesale Mortgage (UWM), returned to profitability in the first quarter of 2024 despite higher rates, a lack of inventory and a decline in the fair value of its mortgage servicing rights (MSRs). The quarter’s positive performance was supported by increased origination volumes at improved margins and servicing sales, which resulted in a non-GAAP net income of $141 million from January to March, compared to a $361 million loss in the previous quarte

Mortgage 238

Mortgage Inventory Technology Investing 238

Inman

MAY 9, 2024

The ruling by Judge Stephen R. Bough on Thursday resolves antitrust claims in the Sitzer | Burnett, Moehrl and Nosalek commission cases. However, it won't quash other existing suits from buyers.

Buyers 167

Buyers Brokerage 167

Eyes on Housing

MAY 9, 2024

Confidence in the market for new multifamily housing declined year-over-year in the first quarter of 2024, according to results from the Multifamily Market Survey (MMS).

Development 98

Development Marketing 98

Inman

MAY 9, 2024

Diversity is the way of the future, writes The Agency’s Mauricio Umansky. Here, he unpacks the advantages of intentionally building a diverse team for your clients, your agents and your business.

Business 140

Business Clients Agents Brokerage 140

Yolo Solano Appraisal Blog

MAY 9, 2024

Thanks to everyone who came to the 5th Northern California Residential Appraiser Conference jointly hosted by the Real Estate Appraisers Association (REAA) and the Northern California Chapter of the Appraisal Institute last week. While attendance was somewhat lighter than in past years, it was great to see so many in person.

Appraisal 78

Appraisal Real Estate Realtors 78

Inman

MAY 9, 2024

The trade group had earlier signaled plans to raise dues in 2025, but during a board of directors meeting Thursday at the Realtors Legislative Meetings voted 894-20 to keep them at $156.

Realtors 129

Realtors Government Agents 129

Empire Appraisal Group

MAY 9, 2024

New Requirements Aim to Reduce Appraisal Bias The new Reconsideration of Value policy requires lenders to provide a pathway for borrowers to request reviews of home appraisal valuations. WASHINGTON – The Federal Housing Administration (FHA) and Federal Housing Finance Agency (FHFA) today announced new policies that will allow borrowers to challenge property appraisals if they believe the appraisals were inaccurate or biased.

Reconsideration of Value 78

Reconsideration of Value Appraisal Valuation Training 78

Inman

MAY 9, 2024

An LGBTQ+ Real Estate Alliance survey has revealed the challenges of retirement for LGBTQ homeowners, who worry about safety and acceptance more than their straight counterparts.

Buyers 126

Buyers Real Estate Marketing 126

GoForrmz

MAY 9, 2024

Leveraging technology for safety construction practices While safety continues to be a priority in the construction industry, it’s not without reason. From heavy and loud machinery to extreme and potentially dangerous working conditions, construction businesses have had to make safety compliance a primary focus. Traditional paper-based forms have long been the norm for documenting safety procedures, but the advent of digital forms has revolutionized safety management in the construction industry

Construction 78

Construction Training Inspection Technology 78

Inman

MAY 9, 2024

Want your agents to look forward to meetings? Broker Joseph Santini shares five tips for making your office meetings must-attend events (and five things to avoid at all costs).

Agents 121

Agents Training Brokerage 121

Lamacchia Realty

MAY 9, 2024

Olivia O’Toole has joined Lamacchia Realty as an office manager in the Worcester County region. Olivia brings with her a strong foundation in real estate, having started her career in 2010 managing tasks and administrative processes for agents. She then co-founded and became the COO of a well-respected real estate company in Worcester County, helping to drive the company’s growth from 2013 to 2022 after which she ventured into consulting with her own firm, Synergy Coaching & Consulting

Realty 74

Realty Brokerage Real Estate Realtors 74

Inman

MAY 9, 2024

CEO Marco Fregenal says the flat-fee brokerage is making progress toward achieving 2024 goals despite seasonality and broader industry challenges driving a $5.9 million Q1 net loss.

Realty 117

Realty Brokerage Agents Insurance 117

Mashvisor

MAY 9, 2024

Jumping into the world of short-term rental hosting can be intimidating. There are seemingly endless things to consider and rules to follow.

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73

Inman

MAY 9, 2024

The share of seriously underwater mortgages moved up slightly from 2.6 percent to 2.7 percent in the first quarter, according to a report from Attom released Thursday.

Mortgage 118

Mortgage Marketing 118

BiggerPockets

MAY 9, 2024

Think it’s too late for early retirement? Do you feel like just because you’re in your late thirties, forties, or fifties, FIRE doesn’t make sense for you?

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66

Inman

MAY 9, 2024

Q1 net earnings of $180.5 million were boosted by the sale of $70 billion in mortgage servicing rights (MSRs) and a $141 million markup in the value of the $230 billion in MSRs UWM retained.

Mortgage 112

Mortgage Marketing 112

Mortgagebroker News

MAY 9, 2024

Recent figures show a decline in sentiment towards brokers. How can you avoid letting your business slide?

Business 78

Business 78

Inman

MAY 9, 2024

A solid Q1 earnings report has Redfin CEO Glenn Kelman feeling confident. However, persistent market headwinds are keeping the CEO from being too bullish.

Marketing 120

Marketing Mortgage 120

Mortgagebroker News

MAY 9, 2024

Inventory rises in major markets, but high borrowing costs continue to dampen buyer activity

Inventory 74

Inventory Buyers Marketing 74

Inman

MAY 9, 2024

Q1 2024's real estate earnings are in. CoStar and Rocket Mortgage excelled, while RE/MAX and Opendoor face challenges. We've compiled the key highlights in one place. Here's what you might have missed.

Real Estate 105

Real Estate Mortgage Brokerage Marketing 105

BiggerPockets

MAY 9, 2024

How do you know if a rental property will make enough cash flow before you buy? Budgeting is KEY.

Real Estate 71

Real Estate 71