Sat.Jun 24, 2023 - Fri.Jun 30, 2023

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Zillow shuts down Closing Services

Housing Wire

Zillow Group ’s attempt to streamline the home buying experience by offering all facets of the transaction process on one platform has hit a road bump. The real estate listing giant announced on Monday that it is sunsetting its title and escrow provider, Zillow Closing Services. “Integrating the real estate transaction to make buying and selling simpler for customers remains our core strategy and we believe offering title and escrow is a critical component,” a Zillow spokesperson wrote in an ema

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Principles of Prosperity: The Final Word

The Appraiser Coach

I’ve recently been posting about what I call the “Principles of Prosperity.” I’ve been hoping to give you a brief introduction that will pique your.

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Hot graph summer & Airbnb doom

Sacramento Appraisal Blog

Let’s talk about housing doom. Particularly, I want to get into the viral idea about the demise of the Airbnb market. But first, I have a few visuals to kick off hot graph summer (sorry). I’d love to hear your take in the comments. A meme I shared this week as I talked about the […] The post Hot graph summer & Airbnb doom first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

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It’s a good time to be selling (and buying) new homes

Real Estate News

New home sales are up 20% year-over-year, according to the U.S. Census Bureau, and lower median prices could help first-time buyers.

Buyers 326
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Crowdfunding platform Peer Street files for bankruptcy

Housing Wire

California-based real estate investing platform Peer Street, Inc. and 14 affiliated debtors filed for protection under Chapter 11 of the U.S. Bankruptcy Code in a court in Delaware on Monday, citing a challenging mortgage market and struggles to raise capital with venture capital funds. “Through its bankruptcy filing, PeerStreet will seek to sell substantially all of its assets, including, but not limited to, its mortgage loan assets and technology platform, in a series of transacti

Investors 432
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Tips for Making a Successful Transition to a New City After a Personal Low Point

Cleveland Appraisal Blog

Hello friends! I’m playing catch-up on blogs with the help of my guest bloggers. I’m working on more of my own articles that will be posted soon. I welcome back guest blogger June Duncan who wrote this article for the Cleveland Appraisal Blog. In this article, she shares some tips for relocating after facing personal challenges. Relocating is not easy.

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'Mounting pressure' on industry as MLS agrees to settle commission suit

Real Estate News

MLS PIN has agreed to pay $3 million and stop requiring sellers to offer buyer-broker compensation, a practice at the core of two other major lawsuits.

Sellers 293
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loanDepot sues Movement for poaching LOs

Housing Wire

loanDepot is accusing its competitor Movement Mortgage of damaging its business by hiring over 25 employees in three months and “effectively crippling” “now-depleted” branches. The poaching lawsuit, filed on June 22 at a federal district court in Delaware, states that South Carolina-based Movement recruited and hired its employees in late 2021 and early 2022 to take trade secrets and confidential information.

Retail 421
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Standards: Groupthink Bias?

George Dell

We continue our look at how current standards, and regulations hold back best practices. This part 5 of a multipart look at issues in valuation standards. Editor’s Note: This is Standards, part 3.5 of George Dell’s series on How Do I Move to EBV? Links to the earlier posts are here. This part is interesting […] The post Standards: Groupthink Bias?

Valuation 195
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Principles of Prosperity: The Final Word

The Appraiser Coach

I’ve recently been posting about what I call the “Principles of Prosperity.” I’ve been hoping to give you a brief introduction that will pique your interest. I’ve purposely not given you tons of information on them. That’s because of another principle: what you sacrifice for becomes more meaningful. You will appreciate these principles more if you sacrifice time and effort to learn them more deeply on your own.

Law 195
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NAR and its president accused of racial, sexual discrimination

Real Estate News

A former employee has filed a lawsuit alleging she was unfairly fired after ending a relationship with National Association of Realtors President Kenny Parcell.

Realtors 275
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Fannie Mae warns Northern CA mortgage lenders of child support income scheme

Housing Wire

Fannie Mae has issued a mortgage fraud alert for lenders in northern California, warning of heightened instances of misrepresented child support income in “numerous loans” that have been originated in the region over the past few months. The GSE highlighted four hallmarks of such a scheme. These include, “commonality of real estate agents involved in selling the subject properties; bank statements and canceled checks [which] are created to support falsified child support income; borrowers hav[in

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Property Tax Assessments and Revenue: Catching Up to Home Values…and Quickly

Eyes on Housing

NAHB analysis of the Census Bureau’s quarterly state and local tax data shows that $174 billion in taxes were paid by property owners in the first quarter of 2023 (not seasonally adjusted).[1] In the four quarters ending Q1 2023, state and local governments collected $714 billion of property tax revenue. The year-over-year growth rate of property tax collections is more.

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NAR pushes back on harassment claim amid growing agent backlash

Inman

The National Association of Realtors tapped an independent law firm to investigate sexual and racial harassment allegations, ultimately choosing to "reject" claims made by a former employee.

Agents 161
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eXp CEO reveals Homes.com talks and new twist on recruiting

Real Estate News

Glenn Sanford’s “State of the Union” hints at strategic partnerships, an exclusive lead-gen strategy and investments in attracting teams.

Investing 293
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Housing Market Tracker: Inventory gets summer lift

Housing Wire

Summer is here, and housing inventory is finally growing! The spring housing inventory was like a zombie rising from the grave, very slow, but the summer is showing some promise and let’s hope it continues. Purchase apps had a small week-to-week gain. Mortgage rates were again in a small range, hanging near 7%. Here’s a quick rundown of the last week: Active inventory grew 8,886 weekly.

Inventory 410
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Foregoing Contingencies! But What About Fiduciary Duty?

Appraiserblogs

By foregoing contingencies such as home inspections and appraisals altogether, mortgage lenders risk violating their fiduciary duty – which is supposed to prioritize the interests of the borrower above all else. It is no surprise that some loan officers are salivating over the prospect of not having to wait for a full appraisal or a home inspection.

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How to become a mortgage broker in 6 steps

Inman

Mortgage brokers have to undergo specific training to do their jobs, but a higher education degree is not required. Those with an aptitude for hard work and client relationships can find great success over the course of their careers.

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Hanna CEO chooses 'disruptive' path to retain listing control

Real Estate News

Hoby Hanna recently made waves by pulling listings from IDX — a move that effectively keeps Howard Hanna Real Estate listings off of competitors’ websites.

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Most mortgages in forbearance in March 2021 are either current now or closed: CFPB

Housing Wire

Most borrowers who had a mortgage forbearance in March 2021, including disproportionately impacted borrowers of color, were either current or closed as of March 2023. This is according to data released this week by the Consumer Financial Protection Bureau (CFPB) Office of Research. In the immediate aftermath of the COVID-19 coronavirus pandemic’s onset, the Coronavirus Aid, Relief, and Economic Security (CARES) Act passed in March 2020 allowed millions of U.S. mortgage borrowers to enter public

Mortgage 397
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Has FNMA Gotten Too Big to Control?

Appraiserblogs

Has Fannie Mae gotten too big to control? That was one of the many questions asked to Senators & Congressman while in Washington DC. The agreement on whether Fannie Mae has gotten too big to control was unanimous. Most believe that the company is too large and complex to be effectively managed by the government. They argue that Fannie Mae is too big to fail, and that if it were to collapse, it would have a devastating impact on the housing market.

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New listings plummet 27%, marking biggest annual fall since pandemic

Inman

The number of new listings coming onto the market has plunged since June 2022, according to data released Thursday by Redfin. Transaction levels remain low even as home prices creep higher.

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Winning business without the sales pitch

Real Estate News

Some agents aren't natural salespeople, but tapping into your interests and a desire to make authentic connections can be a highly effective way to gain leads.

Business 257
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Angel Oak Mortgage REIT issues $285M non-QM securitization

Housing Wire

Angel Oak Mortgage REIT has issued a $284.5 million non-QM securitization, which the company said marks an “inflection point” in its business. The company said it intends to use the capital to purchase more newly originated, high-coupon loans while continuing to manage liquidity. The securitization will also reduce Angel Oak’s whole loan warehouse debt by 45.6% from the first quarter of 2023, bringing the total reduction in the REIT’s whole loan warehouse debt since the end of Q3 202

Mortgage 397
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Market in Focus: Solid Population Growth for North Carolina

Eyes on Housing

The population of North Carolina rebounded strongly from a brief period of negative growth the state experienced in 2020 due to the COVID-19 pandemic. North Carolina’s population grew at a rate of 1.3% between 2021 and 2022, the ninth fastest of any state. By count, North Carolinas population increased by 133,088, the 3rd largest nominal increase in the U.S.

Marketing 103
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How do you know if your email newsletter is getting results?

Inman

In part two of the series, Eric Bramlett writes that measurement is critical over time to optimize content and delivery to generate leads, foster conversations and help you stand out among your peers.

Brokerage 160
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'Collaboration over competition' fuels Chicago broker collective

Real Estate News

The Collaborative Edge is a group of five brokers who manage their own client relationships but share time and resources to help one another succeed.

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How AI implementation could impact the mortgage industry

Housing Wire

Most mortgage professionals have either started to adopt artificial intelligence (AI) or are at least aware of how it can be adopted to make the loan origination process more efficient. While it will take time to fully implement AI in the mortgage industry, the most practical use of AI in the mortgage process is document and data point recognition — or finding data and figuring out what the data is, according to a new Stratmor report on the potentials and limitations of AI. “Once data is i

Mortgage 397
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A Dog Owner’s Guide to a Pawsitive Home Appraisal

Chicagoland Appraisal Blog

At Chicagoland Appraisals, we understand that your furry friends are an important part of your family. We love dogs and appreciate the joy they bring to our lives. When our home appraiser visits your property, we want to ensure a smooth and comfortable experience for everyone involved, including your beloved pets. As a proud dog owner, taking a few extra steps to prepare your home and your four-legged friend can make a big difference.

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DOJ will weigh in at appeals court during NAR pocket listing dispute

Inman

The antitrust enforcer will get 5 minutes at oral arguments in Top Agent Network's appeal to overturn a lower court ruling tossing its case against NAR's Clear Cooperation Policy.

Agents 155
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Brokerage Beat: Real, Windermere, Sotheby's add SoCal strength

Real Estate News

Two top teams get Real; Windermere acquires HK Lane; SIR picks up Pritchett-Rapf; McEnearney Associates and Middleburg Real Estate/Atoka Properties merge.

Brokerage 254
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How can mortgage brokers gain an advantage right now?

Housing Wire

HousingWire recently spoke to Ryan Carry, SVP of Wholesale at Change Wholesale , about the wholesale channel and how brokers can gain an advantage in the current fluctuating market. HousingWire: How is the current fluctuating market affecting the wholesale channel? Ryan Carry: At Change Wholesale, we welcome and embrace fluctuations and changes in the market.

Mortgage 397
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Keeping Your Hospitality Staff Safer this Summer

GoForrmz

How Digital Forms Support Hospitality Staff Hospitality thrives on delivering exceptional experiences to their guests. But that’s not to say it comes easy. The hospitality industry comes with a set of unique challenges and risks. Whether it’s bustling restaurants or working poolside, the efficiency and safety of your hospitality staff is vital. Digital forms do just that.

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Got a buyer on the line? Here are 4 steps for handling objections today

Inman

According to mega-team leader Carl Medford, in today's market, those who learn to effectively handle objections will be the ones who end up at the closing table with their clients.

Buyers 155