Housing Wire

MAY 21, 2024

The United States Department of Veterans Affairs will soon release a circular that “bridges the gap” on an agency law that prohibits a VA buyer from paying their real estate agent compensation, a VA official announced on Tuesday. Michelle Corridon, deputy policy director at the VA, announced at the Mortgage Bankers Association ‘s Secondary & Capital Markets Conference in New York that the circular would be issued between now and June 12.

Buyers 517

Buyers Agents Real Estate Agent Real Estate 517

Appraisal Buzz

MAY 22, 2024

Mortgage application volume increased 1.9% during the week ended May 17, as the average rate for a 30-year- fixed-rate mortgage fell to to 7.01%, down from 7.08% the previous week, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Applications for refinances increased 7% compared with the previous week and were up 21% compared with the same week one year ago.

Mortgage 431

Mortgage Government Inventory Buyers 431

Sacramento Appraisal Blog

MAY 23, 2024

It wasn’t on my housing market bingo card to be paying such close attention to insurance, but this is a huge deal for California (and some other states). I promise this won’t become an insurance crisis blog, but today I have some brand new stats to share for Sacramento and the Bay Area. UPCOMING SPEAKING […] The post An insurance crisis wasn’t on my bingo card first appeared on Sacramento Appraisal Blog.

Insurance 336

Insurance Housing Market Appraisal Marketing 336

Real Estate News

MAY 19, 2024

A “consumer-centric” approach to buy-side commissions is better for all agents, industry leaders say. Here’s why, and what you need to know about the DOJ.

Agents 299

Agents 299

Housing Wire

MAY 18, 2024

New listings data has been moving lower over the last few weeks. I usually wouldn’t care too much about this as its a data line that can be volatile week to week but now it’s been three weeks. The moves haven’t been significant and our weekly pending contracts data picked up this week. But, we need to see more growth in new listings data just to grow from 2023 levels. 2023 new listings data was the lowest ever on record, so it’s already a low bar.

New Listings 485

New Listings Inventory Mortgage Contracts 485

Appraisal Buzz

MAY 24, 2024

Mortgage bankers continued to lose on originations in the first quarter, as the average pre-tax net loss per loan was $645, according to the Mortgage Bankers Association’s (MBA) Quarterly Mortgage Bankers Performance Report. That’s a decrease from the reported loss of $2,109 per loan in the fourth quarter of 2023. “While the first quarter of 2024 marks the eighth consecutive quarter of net production losses, these losses were less severe than the previous two quarters,” says Marina Walsh, vice p

Mortgage 396

Mortgage Business Appraisal 396

Real Estate News

MAY 20, 2024

With many owners of existing homes hesitant to give up their low mortgage rates, new homes continue to account for an outsize share of the market.

Construction 288

Construction Mortgage Marketing 288

Housing Wire

MAY 20, 2024

Fraud and forgery claims represented more than one-fifth of the total dollars spent by title insurers on claims expenses and losses over the past decade, according to a study conducted by Milliman and commissioned by the American Land Title Association (ALTA). Between 2013 and 2022, title insurers recorded 203,181 claims for policies written during that time, and they paid out $4.4 billion in claims related to losses and loss expenses.

Insurance 479

Insurance Inspection Government Mortgage 479

Appraisal Buzz

MAY 21, 2024

A combination of increased listings and weakening affordability continued to dampen home price appreciation in April – a trend that will likely to continue, according to First American. “After years of historically low levels of homes for sale, the pace of existing-home listings has modestly increased, bringing much-needed supply to the housing market,” says Mark Fleming, chief economist for First American, in a statement.

Inventory 370

Inventory Housing Market Marketing Appraisal 370

Inman

MAY 24, 2024

The luxury market is back. That was Compass co-founder and CEO Robert Reffkin's primary message during his latest appearance on CNBC's "Squawk on the Street," where he talked about home price trends, mortgage rates, and stock market ebbs and flows.

Marketing 191

Marketing Mortgage Brokerage 191

Real Estate News

MAY 21, 2024

An appeals court ruled that the government could reopen its investigation. NAR says that decision involved “far-reaching and exceptionally important” errors.

Government 270

Government 270

Housing Wire

MAY 23, 2024

The median U.S. home sale price reached a record $387,600 in the four weeks ending May 19, marking a 4% year-over-year increase, according to data released Thursday by Redfin. The pricing surge comes despite a marginal dip in weekly average mortgage rates , which fell from a five-month high of 7.22% to 7.02% at the beginning of May, according to Freddie Mac.

Inventory 465

Inventory Sellers New Listings Buyers 465

Appraisal Buzz

MAY 22, 2024

Today, host Hal Humphreys meets with Jeff Allen, President of CubiCasa. Jeff has been an integral part of the valuation industry for a while, and he gets us up to speed on what his experience has involved. There have been a lot of new changes coming to the valuation space. What are some recent changes happening in valuation technology Where is the future of valuation going, and just how long will it take us to get there?

Valuation 368

Valuation Technology Appraisal Modernization 368

Inman

MAY 24, 2024

The red brick Georgian mansion, known by children all over the world as Kevin McCallister's home, is back on the market after 12 years and comes with a large Kevin Lego figure for the home theater.

Marketing 193

Marketing 193

Real Estate News

MAY 22, 2024

Comments made by a Department of Veterans Affairs official Tuesday “ensures veterans have the same opportunity as others to compete in a tight housing market.

Agents 271

Agents Housing Market Marketing 271

Housing Wire

MAY 21, 2024

For many, buying a home is a complex process, and navigating the real estate market’s rules and regulations can be tricky, especially in states where property sale prices remain a secret. Buying a home in a non-disclosure state, where sale prices are not available to the general public, presents a unique set of challenges and requires home buyers to be more proactive in gathering information.

Real Estate Agent 465

Real Estate Agent Real Estate Inspection Tools 465

Appraisal Buzz

MAY 23, 2024

Mortgage rates fell this week, with the average rate for a 30-year, fixed-rate mortgage dropping to 6.94%, down from 7.02% last week, according to Freddie Mac’s Primary Mortgage Market Survey. “Spring homebuyers received an unexpected windfall this week, as mortgage rates fell below the seven percent threshold for the first time in over a month,” says Sam Khater, chief economist for Freddie Mac, in a statement.

Mortgage 195

Mortgage Inventory Housing Market Appraisal 195

Inman

MAY 22, 2024

Deputy Director of Policy Michelle Corridon said Tuesday the agency would lift rules preventing vets from using low-cost VA loans to pay agents until it engages in a formal rule-making process.

Agents 183

Agents Clients Buyers Tools 183

Real Estate News

MAY 24, 2024

David Mele, the longtime leader of CoStar’s home search site, confirmed to Real Estate News that he has left his position as president of Homes.com.

Real Estate 264

Real Estate 264

Housing Wire

MAY 23, 2024

Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a pretax net loss of $645 on each loan they originated in the first quarter of 2024 — a decrease from the average loss of $2,109 per loan in Q4 2023, according to the Mortgage Bankers Association ’s (MBA) newest quarterly performance report. “While the first quarter of 2024 marks the eighth consecutive quarter of net production losses, these losses were less severe than the previous two quarters,” Marina Wals

Retail 447

Retail Mortgage Valuation Inventory 447

Appraisal Buzz

MAY 23, 2024

Truity Credit Union , a member-owned credit union with locations in Oklahoma, Kansas and Texas, is using Dark Matter’s Empower loan origination system to provide loan officers and members a modern, mobile-friendly experience across home purchase, refi, home-equity and construction loan originations. According to Joe Beffer, Truity’s senior vice president and director of lending, the credit union chose Dark Matter for its mobile-friendly borrower portal and for features that will help its interna

Loan Officers 195

Loan Officers Modernization Construction Lending 195

Inman

MAY 23, 2024

Newly built homes available on the market rose to 480,000, representing a supply of 9.1 months at the current sales rate, up from an 8.5 month supply in March, according to U.S. Census Bureau data.

Inventory 183

Inventory Marketing Agents 183

Real Estate News

MAY 23, 2024

Buyers may be able to take advantage of lower rates and increasing inventory, but many are still priced out, dampening sales.

Inventory 288

Inventory Buyers Mortgage 288

Housing Wire

MAY 21, 2024

In a supply-constrained housing market , even landing a deal at foreclosure auction has become challenging, but those deals tend to be more readily available in markets or neighborhoods that are off the beaten path. “It’s oddly enough in states where people are leaving,” said Florida-based real estate investor Paul Lizell of the markets where he is more focused on acquiring investment properties in 2024.

Marketing 450

Marketing Investors Real Estate Investing 450

Appraisal Buzz

MAY 23, 2024

Down Payment Resource , offering homebuyer assistance program data and solutions, recently announced an integration with ICE Mortgage Technology that embeds down payment assistance program support into Encompass. The integration helps lenders make affordable home financing opportunities more accessible while growing business and forging referral partnerships, Down Payment Resource says in a release.

Mortgage 195

Mortgage Loan Officers Lending Finance 195

Inman

MAY 23, 2024

Equity Angels was launched in early 2024 by 2018 Inman Person of the Year Kenya Burrell-VanWormer, chief growth officer at NEO, and Katherine Winston, founding member and head of marketing at Plunk.

Marketing 191

Marketing Technology 191

Real Estate News

MAY 20, 2024

Minnesota’s largest multiple listing service embraces its “broker-centric, tech-forward focus” as it works through rules changes and pursues collaboration.

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Housing Wire

MAY 20, 2024

California -based multichannel lender and servicer PennyMac Financial Services announced on Monday a proposed private offering of a $650 million aggregate principal amount of senior notes that the company says it will pay back with interest by 2030. The notes will “be fully and unconditionally guaranteed on an unsecured senior basis” by the company’s existing businesses, except for certain specific outliers it does not specify.

Law 449

Law Investors Buyers Business 449

Appraisal Buzz

MAY 23, 2024

Lack of inventory, high home prices and rising mortgage rates slowed existing-homes sales in April. According to the National Association of Realtors (NAR), existing-home sales fell 1.9% compared with March to a seasonally adjusted annual rate of 4.14 million. Year-over-year, existing-home sales were down 1.9%. Despite a 9% month-over-month increase in inventory in April, home prices continued to increase: The median existing-home price jumped 5.7% year-over-year in April to $407,600.

Inventory 195

Inventory Realtors Housing Market Mortgage 195

Inman

MAY 20, 2024

AI is reshaping the landscape of property transactions, revolutionizing traditional processes and boosting overall efficiency.

Real Estate 210

Real Estate 210

Real Estate News

MAY 24, 2024

CEO John Berkowitz says the home search company offers agents and consumers “a better chance of succeeding” than its deep-pocketed competitors.

Agents 257

Agents 257

Housing Wire

MAY 24, 2024

The U.S. Department of Housing and Urban Development (HUD) on Friday announced the availability of $26 million in funding to be distributed to state and local housing agencies to enforce fair housing practices and to combat discrimination. The money will be distributed via noncompetitive funding for HUD’s state and local fair housing enforcement agencies across the nation under the Fair Housing Assistance Program (FHAP), which is described as “an intergovernmental partnership between the federal

Law 441

Law Government Development 441

Appraisal Buzz

MAY 22, 2024

Technology firm Finaya has launched an AI-based homeownership marketplace super-app that integrates home buying and selling, mortgage, insurance, title, closing and other related services supported by a marketplace of on-demand realtors, loan brokers, lenders and service providers. In addition, Finaya has announced a definitive merger and acquisition agreement with Nexme, a real estate app with a distinctive “tour now” capability that lets buyers request home tours on demand, and real estate age

Insurance 195

Insurance Real Estate Agent Mortgage Real Estate 195

Inman

MAY 21, 2024

James Dwiggins spoke at the inaugural Inman Connect Miami on Tuesday, arguing that clinging to the current status quo when it comes to commissions is a recipe for disaster.

Realty 176

Realty Brokerage Agents 176