Wed.Jan 17, 2024

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Mortgage apps uptick spreads optimism on a refi recovery

Housing Wire

Mortgage rates at their lowest level in three weeks led to an increase in borrowers’ demand for home loans last week, spreading some optimism in the industry in the first few weeks of 2024. To prove it, analysts are already discussing a potential refi recovery. Overall, mortgage applications rose by 10.4% in the week ending Jan. 12, compared to one week earlier, on a seasonally adjusted basis, per the Mortgage Bankers Association ‘s (MBA) weekly mortgage applications survey.

Mortgage 473
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The spring housing market is waking up & random stats

Sacramento Appraisal Blog

The spring market is awake. Today I want to talk about some trends I’m seeing, debunk a myth, and share some super random stats involving pickleball, Starbucks, and other stuff (sorry). Haha. UPCOMING (PUBLIC) SPEAKING GIGS: 01/31/24 Joel Wright & Mike Gobbi Event 9am (on Zoom here) 02/01/24 Gateway Event (private) 2/09/24 PCAR WCR Event […] The post The spring housing market is waking up & random stats first appeared on Sacramento Appraisal Blog.

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DataDigest: Construction costs easing for homebuilders

Housing Wire

New home construction exploded early in the pandemic as soaring home demand squeezed existing inventory nationwide, giving homebuilders a much bigger share of a shrinking pie. However, as mortgage rates hit multi-decade highs , cooling demand and shrinking the pool of qualified buyers for new homes, homebuilders slowed their pace of construction, which settled at a plateau that is still well above pre-pandemic levels.

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Meet the reporter whose NAR story rocked the industry

Real Estate News

New York Times journalist Debra Kamin talked to Real Estate News about the response to her investigations, why her eXp story “hit differently,” and what’s next.

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HUD secretary suggests openness to changing FHA ‘life of loan’ requirement

Housing Wire

Secretary of the U.S. Department of Housing and Urban Development (HUD) Marcia Fudge suggested to a congressional committee that the department could consider eliminating life-of-loan premium requirements for mortgages backed by the Federal Housing Administration (FHA), but did not offer any indication about the issue’s priority level at HUD. Sitting for a HUD oversight hearing conducted by the U.S.

Insurance 466
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Builder confidence jumps in the new year

Real Estate News

Home builder sentiment is up significantly in January as lower mortgage rates bring more buyers back to the market.

Buyers 310

More Trending

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Are Standards Credible?

George Dell

“USPAP” is for credible appraisers. The underlying principle of the actual ‘standards’ and the hundreds of pages of “explanatory” material is that the appraiser’s work must be “worthy of belief.” Accuracy and precision (trueness and sureness) are never stated as a goal. Believability, in turn, is judged by the user “expectations” and if “peers” would […] The post Are Standards Credible?

Appraisal 195
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CFPB advises the public of scammers posing as Bureau officials

Housing Wire

The Consumer Financial Protection Bureau (CFPB) is sounding the alarm about an accelerating rate of scams that most commonly target older Americans, where a bad actor will pose as an official representative of the Bureau or another federal agency. The CFPB published a blog post on Tuesday describing details of the scam, including the lengths that the bad actors will go to convince their targets of the deception.

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Christie’s International Real Estate expands into Curaçao with affiliate

Inman

The luxury brand's Aruba affiliate, Bold Properties, has expanded into the Caribbean island of Curaçao as demand remains strong among buyers and investors in the wake of the pandemic.

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UWM sunsets FindAMortgageBroker.com, rebrands to Mortgage Matchup

Housing Wire

Top U.S. mortgage lender United Wholesale Mortgage (UWM) has rebranded its consumer-facing website FindAMortgageBroker.com to Mortgage Matchup. Mortgage Matchup will continue to be a consumer-facing website focused on homebuyers and real estate agents and offer educational material around the home buying and refinancing processes, along with a database of independent mortgage brokers near them, said UWM in a news release Wednesday.

Mortgage 441
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David Stevens, influential leader in mortgage finance, dies at 66

Inman

The former FHA commissioner also held executive positions at World Savings Bank, Freddie Mac, and The Long and Foster Companies before leading the Mortgage Bankers Association.

Finance 180
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RMF estate, now ‘out of money,’ seeks conversion to Chapter 7 bankruptcy

Housing Wire

The bankruptcy plan administrator for Reverse Mortgage Investment Trust (RMIT), the parent company of former industry lender Reverse Mortgage Funding (RMF), has filed a court petition to convert from Chapter 11 bankruptcy to Chapter 7 bankruptcy. The RMIT/RMF estate has run “out of money” to continue under Chapter 11, according to court filings reviewed by RMD.

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Why 94% of agents rode out 2023 with the same brokerage: Triple-I

Inman

Agents weathered the storm last year by mostly staying put. In response to the latest Inman Intel Index, agents and brokerage leaders revealed the factors that might lead to a job change in 2024.

Brokerage 180
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First American cyber incident expected to impact Q4 2023 financials

Housing Wire

Big Four title firm First American Financial believes the cybersecurity incident it incurred on Dec. 20, 2023 , will have material impact on its fourth quarter 2023 financial results, according to a document filed with the Securities and Exchange Commission last Friday. In the filing, First American informed the public that it believes it has contained the incident and reiterated that it has resumed normal business operations, which it first announced on Dec. 29, 2023.

Insurance 421
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Homeseller sues Nevada Realtors, NAR after $40K commission bill

Inman

Las Vegas resident Nathaniel Whaley alleges the National Association of Realtors, the Northern Nevada Regional MLS and state and local Realtor groups conspired to inflate broker commissions.

Realtors 176
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HUD’s Use of Convicted Felons to Ramp Up ‘Discrimination Testing’

Appraiserblogs

It wants to bootstrap released felons by allowing them to work as so-called “fair-housing testers” for the many nonprofits HUD provides grants to… If the rule is changed, the HUD-subsidized nonprofits could hire felons to ramp up sting operations against real estate brokers, leasing agents, mortgage loan officers, escrow officers, title officers, appraisers, property managers and others.

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Woman-led brokerage LUX Denver moves to ERA Real Estate

Inman

Boutique firm LUX Denver is now affiliated with ERA Real Estate. Broker-owner Emily Duke co-founded the company in 2014, which has a lifetime sales volume of more than $200 million.

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Streamlining Paper Processes in Your Transportation & Logistics Business

GoForrmz

Digital forms could be the sustainable solution to paper problems your business has been missing At GoFormz we’re big believers in sustainability and making cost-effective, environmentally positive business decisions. Moving away from paper processes and embracing digital alternatives can be a fast and easy way for your transportation and logistics organization to streamline processes, improve efficiencies, and also embrace a long-term, eco-friendly approach to doing business.

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Want to work for Baird & Warner? There’s a website for that

Inman

To accommodate agents seeking a new place to hang their license, the notable Midwest independent has launched a new website, joinBW.com, to highlight the advantages of working for Illinois' largest family-owned real estate company.

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How We Handle Assignments with Ease: Why Banks and AMCs Should Choose Us

Boston Appraisal

How We Handle Assignments with Ease: Why Banks and AMCs Should Choose UsWhether you are a homeowner or an investor, or an institutional lender, or even an ap.

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Shamed developer withdraws floor plans ‘honoring’ Tubman, Frank

Inman

Albuquerque-based homebuilder Abrazo Homes drew the ire of social media users over the weekend for their floor plans named after Harriet Tubman and Anne Frank. The builder has edited the descriptions to remove historical facts about the women's lives.

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The Impact of Lower Mortgage Rates Is Already Being Felt in These Five Markets

BiggerPockets

Rates have been falling for the past few months, and signs of the market warming up are already here. These five markets have the highest gains in activity since last year.

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HomesUSA’s Ben Caballero is changing how homes are marketed

Inman

As part of Brandon Doyle's Snapshot series he talks to HomesUSA founder and CEO Ben Caballero. Find out how this innovator, and Guinness Book record-holder, is transforming the marketing of new construction.

Marketing 161
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Boston Appraisal Services: A Short Intro

Boston Appraisal

The post Boston Appraisal Services: A Short Intro appeared first on Boston Appraisal Services.

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PR firm Lion & Orb launches annual membership plan for agents

Inman

Lion & Orb Agent Memberships will become available beginning on Jan. 24. The company calls its model “a groundbreaking annual subscription service that transforms how agents access public relations and marketing services to promote themselves and their work.

Agents 154
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Boston Appraisal Services: A Short Intro

Boston Appraisal

The post Boston Appraisal Services: A Short Intro appeared first on Boston Appraisal Services.

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Simple strategies for feeling great and keeping healthy

Inman

If your 2024 resolutions included health and fitness goals, trainer Bernice Ross offers a collection of great advice to help you stay on track.

Agents 172
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Rookie Reply: Loan Pre-Approvals & Picking an Out-of-State Investing Market

BiggerPockets

Out-of-state investing is a great option if you’re looking to venture beyond your backyard, but finding the perfect market can be a challenge.

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Compass recruits influencer (and Corcoran agent) Randy Baruh

Inman

Baruh works in New York City and brings with him three other agents and one administrator. His move comes as brokerages compete intensely for top talent.

Agents 161
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Wait: Don’t Get Started On Your Development Project Unless You Have Zoning in Place

BiggerPockets

We've talked about zoning rules and regulations. Now, we need to talk about getting the right zoning for your project. Here's how to do that.

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AI mortgage tech provider Gateless beefs up integrations

Inman

New integrations with The Work Number and Informative Research are aimed at helping lenders speed underwriting approvals and reduce human error.

Mortgage 160
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9 First Year Mistakes Short-Term Rental Investors Should Avoid

BiggerPockets

You don't have to be perfect to get started, you just need to get started. These nine mistakes are proof of that.

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Empty nesters own twice as many big homes as millennials with kids

Inman

Empty nest Baby Boomers own 28.2 percent of the large homes in the United States — twice as many as millennials with kids.

Marketing 166
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Massachusetts Home Prices Rise Modestly, Sales Plummet in 2023

Buys Brokers Only LLC

Massachusetts home prices rose modestly in 2023 as price growth slowed compared to the previous three years, and sales plummeted, according to data compiled by the Massachusetts Association of Realtors (MAR).