Housing Wire

APRIL 24, 2024

Gallo previously shared perspectives with HousingWire on his business strategy for 2023 after enduring challenges in 2022. Alongside Gallo, Mehmet Elmas was also named in the complaint, filed by a special agent working under the Office of the Inspector General (OIG) at the Federal Housing Finance Agency (FHFA).

Mortgages 543

Mortgages Loans Banks Finance 543

Housing Wire

OCTOBER 4, 2023

In 2022, OWN Real Estate sold 80 homes, amounting to more than $107.1 Leung was a finalist of Realtor Magazine ‘s prestigious 30 under 30 2017 class. San Francisco-based real estate team OWN Real Estate joined Keller Williams , the company announced on Wednesday.

Brokerage 437

Brokerage Agents Sales As-is 437

Housing Wire

OCTOBER 26, 2023

million in the previous quarter but down from $135 million in Q3 2022, per Securities and Exchange Commission (SEC) filings. 30, up 2% from June 30. 30, nearly 20% of the company’s servicing portfolio consisted of mortgages with rates over 5%. million in the same period of 2022. from the same period in 2022.

Fixed-rate mortgage 417

Fixed-rate mortgage Principal Banks Loans 417

Housing Wire

FEBRUARY 20, 2024

by drawing from more than 30 data providers. In an environment where agents are increasingly under scrutiny, having a clear understanding of data trends is a competitive advantage for real estate professionals, according to RealReports. In 2022, Baird & Warner closed 15,454 transaction sides totaling nearly $6.3

Brokerage 417

Brokerage Agents Design Industrial 417

Housing Wire

MARCH 22, 2024

According to the SEC filing, 50% of the settlement amount will be deposited into the account within 30 days of the court’s preliminary approval of the agreement, which Compass said it expects to be in Q2 2024. Compass recorded $227.977 billion in sales volume in 2022, according to RealTrends data.

Brokerage 454

Brokerage Agents Development As-is 454

Housing Wire

AUGUST 22, 2023

Prepayment activity fell under easing seasonal home buying pressure along with interest rates briefly rising above 7% and ending July at 6.88%. Prepayment was still down 28% from July 2022. Mortgages that were delinquent by 30 days rose by 35,000 in July, with 60-day delinquency climbing by 17,000 (6.4%).

Staging 370

Staging Loans Mortgages Closing 370

Housing Wire

JANUARY 25, 2023

The Montgomery, Texas-based area manager, who moved from AmeriSave Mortgage Corporation to Cardinal Financial Company in November, launched in mid-2022 a platform to help their referral partners succeed. At Mortgage News Daily , conforming rates for 30-year fixed mortgages were at 6.21% on Wednesday morning, while jumbo loans were at 5.72%.

As-is 475

As-is Mortgages Loans Agents 475

Housing Wire

JANUARY 4, 2023

The last week of the calendar year is usually a slow time for the mortgage industry, but 2022 was something else. on a seasonally adjusted basis from two weeks earlier, according to data from the MBA for the week ending December 30. for the week ending December 30 compared to two weeks ago. Mortgage applications decreased 13.2%

Mortgages 525

Mortgages Fixed-rate mortgage Loans Equity 525

Housing Wire

JANUARY 20, 2024

13-20): Inventory fell from 473,406 to 472,852 The inventory bottom for 2022 was 240,194 The inventory peak for 2023 is 569,898 For context, active listings for this week in 2015 were 933,746 Yes, the inventory growth rate slowed weekly, but I will take it! Most sellers are buyers, and new listing data decreased after rates increased in 2022.

Mortgages 541

Mortgages Sales As-is Marketing 541

Housing Wire

JUNE 23, 2023

from May 2022, to 1.63 In fact, the number of units under construction in the United States right now approaches the highest levels recorded in the last 50 years at 1.69 Traffic was down slightly, with 30% of builders reporting higher community traffic year-over-year compared to 34% in April 2023. from April, and up 5.7%

Construction 383

Construction Sales Residential Mortgages 383

Housing Wire

AUGUST 11, 2022

As a result, our revenues have decreased substantially, and we experienced net losses for the six months ended June 30, 2022.”. ” The lender wrote in its SEC filing that as of June 30, it had $90.8 ” The lender wrote in its SEC filing that as of June 30, it had $90.8 As of June 30, 2022, we had $4.3

Loans 395

Loans Principal Lending Mortgages 395

Housing Wire

MAY 2, 2024

Potempa had a joint venture with OneTrust from March 2022 to March 2024. “With retail, you’re under a mortgage banker; you know the product set because you’re all in-house,” he said. On Wednesday, his team’s 30-year rate on a U.S.

Loan Officer 417

Loan Officer Mortgages VA loan Lending 417

Housing Wire

DECEMBER 12, 2023

Fannie Mae conducted an online survey in late 2022 among a national panel sample whose addresses were in or near a Federal Emergency Management Agency ( FEMA ) defined flood zone. Premiums are rising About 24% of the surveyed respondents said flood insurance is not very or not at all affordable in 2022, compared to 25% in 2020.

As-is 417

As-is Design Industrial Agents 417

Housing Wire

JULY 27, 2023

The vote will take place on August 11 ahead of the extended deadline to complete the merger deal on September 30. Shareholders will also be asked to vote upon a proposal to approve domesticating the corporation incorporated under the laws of the State of Delaware from the Cayman Islands.

Finance 369

Finance Loans Mortgages Brokerage 369

Housing Wire

DECEMBER 16, 2023

The 10-year yield and mortgage rates fell together after the Fed meetings, which gave us mortgage rates under 7% last week. A few days later, the Fed corrected its mistake — they didn’t go hawkish but instead made doves cry and bond yields acted correctly, sending the 10-year yield below 4% and mortgage rates under 7%.

Mortgages 534

Mortgages Sales As-is Marketing 534

Housing Wire

AUGUST 24, 2023

The daily average mortgage rate of 7.36% on August 23 is close to its highest level in over 20 years, with the average monthly mortgage payment is around $2,700 today, $400 higher than at the same point in August of 2022. Agents say cash-strapped buyers are negotiating hard to get deals in this environment.

Mortgages 370

Mortgages Agents Closing As-is 370

Housing Wire

MARCH 6, 2023

The annual home price growth rate fell to 3.43% in January, more than a full percentage point below the 30-year average. Price impacts could strengthen again if 30-year rates continue to climb, as they have through late February, although tight inventory will put a floor on how much prices will ease, the report noted.

Marketing 395

Marketing Equity Principal Mortgages 395

Housing Wire

NOVEMBER 22, 2023

The lock-in effect and the low number of homes available for sale will persist for some time, but limiting factors will begin to diminish and affordability will improve as the 30-year fixed mortgage rates drop below 7%, the group explained. Compared to October 2022, existing home sales slumped 14.6%, down from 4.44 million in 2023, 4.7

Sales 427

Sales Mortgages Land As-is 427

Housing Wire

OCTOBER 31, 2022

By the end of 2022, roughly 50 merger or acquisition (M&A) transactions will be announced or closed, which is 50% more than 2018 — the record year for lender consolidation, according to Stratmor Group. For context, the average quarterly pre-tax production profit from the third quarter of 2008 to the second quarter of 2022 is 54 bps.

Industrial 383

Industrial Mortgages Principal Loans 383

Housing Wire

FEBRUARY 27, 2023

9, 2022 to February of this year, when the purchase application data was trending positively as mortgage rates fell from 7.37% to 5.99%. The last two weeks in purchase apps look out 30-90 days. The one good sign is that even though we are below 2022 inventory levels year over year, we are higher than in 2021.

Marketing 446

Marketing Mortgages Days on market Sales 446

Housing Wire

DECEMBER 2, 2023

If the spread between the 30-year mortgage rate and 10-year yield were behaving normally we would be talking about mortgage rates under 6% today! New listings data for this week over the last several years: 2023: 28,297 2022: 28,471 2021 32,018 Traditionally, one-third of all homes take price cuts before they sell.

Mortgages 542

Mortgages As-is Marketing Closing 542

Housing Wire

MARCH 1, 2024

When a notice of potential defect letter is sent to a lender, the user is given 30 calendar days to address any defects cited prior to a resolution request being issued,” Fannie Mae said in its release note. The new alert is similar to the “loan quality defect notice” that Fannie Mae has retired.

Loans 427

Loans Mortgages Construction Finance 427

Housing Wire

JUNE 28, 2023

and 14 affiliated debtors filed for protection under Chapter 11 of the U.S. million in mortgage loans in 2023, compared to $385 million in 2022 and $695.8 For the 12 months ending December 2022, Peer Street and the other debtors had total revenue of approximately $37.4 million in 2021, Dunn wrote. million, down 23.2%

Bankruptcy 427

Bankruptcy Investor Loans Mortgages 427

Housing Wire

JULY 18, 2023

Rumors are that large banks would see residential mortgage capital requirements that far exceed international standards under the Basel III rules, which are expected to be unveiled on July 27, according to a report by Bloomberg. billion originated in the second quarter of 2022. billion fair value as of June 30, compared to $32.1

Mortgages 370

Mortgages Banks Equity Residential 370

Housing Wire

FEBRUARY 23, 2024

year over year in 2023 to a near 30-year low of 4.09 agent count, meanwhile, fell from 58,719 at end of 2022 to 55,131 at end of 2023. One such program, Carlson said, is its teams initiative, which is launched in mid-2022 and expanded again in 2023. “As Despite losing $10.9 million in Q4 was down only 5.7% RE/MAX’s U.S.

Agents 407

Agents Brokerage Branding Investor 407

Housing Wire

AUGUST 3, 2023

Some economists say that this development contributed to drive up the 10-year treasury yield to its highest level since November 2022. Freddie Mac’s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 6.90% as of August 3, up from last week ’s 6.81%.

Fixed-rate mortgage 370

Fixed-rate mortgage Mortgages Loans Sales 370

Housing Wire

JUNE 29, 2023

The Freddie Mac’s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 6.71% as of June 29, up marginally from last week’s 6.67%. By contrast, the 30-year was at 5.70% a year ago at this time.

Mortgages 383

Mortgages New Construction Investor Construction 383

Housing Wire

MARCH 8, 2023

The processors were affected by layoffs imposed by the company in 2022 and 2023. Weikel, per the lawsuit, left the company in July 2022 by selling his interests to the Gillens. The complaint says that Family First Funding had 300 employees across “some 25 offices” and did business in over 30 states.

Loans 370

Loans Mortgages 370

Housing Wire

JANUARY 30, 2023

We had a waterfall dive in purchase apps in 2022 — a historic dive, I would say — so there is a shallow bar to bounce off of. The key with purchase application data is that this data line looks out 30-90 days, so the growth we see here takes about 30-90 days at minimum to hit the sales data. Weekly inventory change (Jan.

Marketing 492

Marketing Mortgages Sales As-is 492

Housing Wire

SEPTEMBER 15, 2023

of homes that went under contract that month, according to a new report from Redfin. in August 2022 and marks the highest percentage since October 2022, when mortgage rates surpassed 7% for the first time in two decades. The average interest rate on a 30-year-fixed mortgage was 7.07% in August. That rate is up from 14.3%

Purchase and sale agreement 417

Purchase and sale agreement Mortgages Closing costs Sales 417

Housing Wire

JULY 20, 2023

The buyout follows two rounds in 2022, in April and August, which resulted in a workforce reduction of about 30% last year. The GAAP net loss in Q1 was $411 million, a decline from 2022 Q4’s $493 million. The firm ended 2022 with 18,500 employees, a 7,500 or 28.8% It targeted around 2,000 or so workers.

Loan Officer 370

Loan Officer Title Mortgages Banks 370

Housing Wire

AUGUST 10, 2023

million in Q2 2022. Blend’s platform segment — which includes the mortgage suite, consumer banking suite and professional services under the changed reporting structure — came in at $30.3 million revenue in its consumer banking suite – a 27% increase from Q2 2022. million in the same period of 2022.

Banks 370

Banks Title Mortgages Loans 370

Housing Wire

JANUARY 9, 2023

Traditionally, we do see housing inventory fall in the month of December, however, we clearly saw in the second half of 2022 that higher rates created more days on the market and inventory was lingering longer. 30, 2022-Jan. 7, 2022): Fell from 293,477 to 292,021. This is why we need to track it on a weekly basis.

Marketing 541

Marketing Mortgages As-is Sales 541

Housing Wire

MAY 26, 2022

The rates are offered in five- and seven-year terms for primary residences $3 million and under, or for second homes for $2.5 million and under, it said. ” How lenders can improve business models in 2022. A conventional 30-year fixed rate purchase mortgage was just 90 basis points higher at 5.1%.

Loan Officer 395

Loan Officer Loans Principal Mortgages 395

Housing Wire

NOVEMBER 3, 2023

October job gains significantly cooled compared to September, falling back under the average monthly gain of 258,000 over the prior 12 months. million, falling somewhere between their March 2022 high (12 million) and their relative pre-pandemic November 2018 high (7.6 Job openings also kept steady in September at 9.6

Marketing 406

Marketing Construction MLS Mortgages 406

Housing Wire

MARCH 28, 2023

The lawsuit was filed under the Fair Housing Act by three counties in Georgia. Brown, who ruled that the counties failed to allege Wells Fargo engaged in any discriminatory acts within the two-year period covered under the Fair Housing Act. In late 2022, Wells Fargo agreed to pay a civil penalty of $1.7

Lending 383

Lending Loans Banks Mortgages 383

Housing Wire

NOVEMBER 30, 2023

The result is that homebuyers are paying much more: average monthly payments on 30-year fixed rate loans increased by more than 46 percent from 2021 to 2022.” The CFPB identified high mortgage rates as a driver of these trends, and is looking for ways to reduce costs for mortgage borrowers, Chora explained.

Mortgages 407

Mortgages Lending Loans Equity 407