Housing Wire

APRIL 25, 2025

The acting head of the U.S. Department of Housing and Urban Development (HUD) Office of the Inspector General (OIG) has issued an updated memorandum of open priority recommendations that aim to increase the department’s efficiency and address key management challenges. The memo, issued this week by Stephen M. Begg who is serving as the acting inspector general of the department said that the recommendations will have the most significant impact on increasing efficiency in HUD programs an

Technology 308

Technology Loans Development Mortgages 308

Housing Wire

APRIL 24, 2025

Keller Williams is continuing to expand its network. On Thursday, the firm announced the affiliation of Illinois -based PRG Group with KW Premiere Properties. PRG Group, which was doing business as Realty Executives Premiere , was a franchisee of Wheaton, Illinois-based Realty Executives International. According to a news release, PRG Group sold 277 units in 2024, generating $130 million in sales volume.

Land 359

Land Brokerage Commercial Branding 359

Housing Wire

APRIL 24, 2025

The Real Brokerage has named Ravi Jani as its new chief financial officer. His appointment is effective immediately and follows the departure of former CFO Michelle Ressler , who was terminated amid an ongoing internal investigation. Jani, who joined Real in September 2023 as vice president of investor relations and financial planning and analysis, steps into the role as the company experiences significant growth.

Brokerage 335

Brokerage Investor Banks Finance 335

Housing Wire

APRIL 24, 2025

Jordan Bernbaum has been feeling anxious these last few weeks. “On the client end, they’re seeing the news and understanding the situation pretty well,” the NEXA Mortgage senior loan officer said. “On my end, it’s a stress-inducing emotional roller coaster of always worrying when I should be locking. I haven’t lost any deals from it yet, but I’ve had a few files I want to refinance from a year or two ago, and now we’re back in a holding pattern.

Investor 350

Investor Loan Officer Mortgages Loans 350

Housing Wire

APRIL 24, 2025

A new report released Thursday by Realtor.com ranks every state on their performance for housing affordability and homebuilding. It exposes significant regional disparities amid a nationwide shortage of more than 4 million homes. The report evaluates each state using weighted criteria tied to affordability and construction activity. Affordability measures include a score based on the percentage of listings affordable to various income brackets, as well as the share of income spent on a median-pr

Construction 341

Construction New Construction Development Land 341

Housing Wire

APRIL 24, 2025

More multiple listing services (MLSs) across the country are quietly repealing the National Association of Realtors (NAR) optional no-commingling rule. For Zillow , a reluctant follower of the rule in MLSs that adopted the policy, it has been able to abandon its two-tab listing display in more metro areas. While Zillow did not provide an exact number of MLSs that have recently dropped the policy, Matt Hendricks, the company’s vice president of industry affairs, wrote in an email that the

MLS 295

MLS Brokerage Design Industrial 295

Housing Wire

APRIL 24, 2025

Modern appraisals are going through a mid-life crisis. They aren’t quite the delicate, subjective art form that they used to be, and technology is now a must-have for appraisers. The appraisal industry is taking on a data-driven mindset in 2025. Traditionally, appraisals are mostly subjective, which equates to a “because I said so” approach that leaves a little too much room for error and bias.

Technology 302

Technology As-is Industrial Marketing 302

Housing Wire

APRIL 23, 2025

Christina Pappas has been appointed as president of Illustrated Properties , marking a new chapter for the South Florida luxury real estate brokerage as it celebrates its 50th year of operations. Pappas steps into the role following the departure of former president Daniel Dennis, who held the position for three years before leaving to pursue a new opportunity.

Brokerage 361

Brokerage Branding Technology Development 361

Housing Wire

APRIL 23, 2025

Nearly half of newly married homeowners in the U.S. who made a down payment asked for money instead of traditional wedding gifts, according to a recent survey. A LendingTree survey of 1,050 American newlyweds found that 48% of those who purchased a home and made a down payment within the past two years requested cash from guests to help fund their home purchase rather than receive items off a wedding registry.

Finance 270

Finance Mortgages As-is Marketing 270

Housing Wire

APRIL 23, 2025

Although the FBI s Internet Crime Complaint Center (IC3) received fewer complaints in 2024 than in 2023, financial losses were up 33% annually to $16.6 billion, according to its annual report published Wednesday. In total, IC3 received 859,531 complaints in 2024, down from 880,418 complaints in 2023. Of the nearly 860,000 complaints, roughly 256,000 resulted in actual losses.

As-is 328

As-is Technology Marketing 328

Housing Wire

APRIL 23, 2025

A bill to expand Maryland s existing Payment in Lieu of Taxes (PILOT) program which allows property tax abatements in exchange for housing reserved for low-income tenants has been signed into law by Gov. Wes Moore (D), a move lauded by affordable housing advocates. The state’s Affordable Housing Payment In Lieu of Taxes Expansion Act will authorize the owner of rental property to enter into a payment in lieu of taxes agreement for maintaining at least 25% of the rental housing units loca

Development 365

Development As-is Marketing 365

Housing Wire

APRIL 22, 2025

As it aims to appeal to potential clients who may be taking a closer look at tapping into home equity , reverse mortgage lender Finance of America (FOA) has debuted a new marketing campaign in concert with its new creative agency to illustrate the lifestyle impacts of its products. The campaign, called A Better Way with FOA, is being referred to as a new brand platform by the company.

Equity 356

Equity Marketing Finance Mortgages 356

Housing Wire

APRIL 22, 2025

When assessing the landscape of housing affordability today, conversations between members of the millennial and baby boomer generations can often devolve into finger pointing over which of them is to blame for the high costs of housing. New survey data from Clever Real Estate indicates that while the blame game continues, 31% of respondents blame millennials for affordability woes compared to 27% who blame boomers.

As-is 365

As-is Marketing 365

Housing Wire

APRIL 22, 2025

As MLSs across the country work to implement the National Association of Realtors (NAR) Multiple Listing Options for Sellers (MLOS) policy, brokerages and some Realtor associations are busy creating the new disclosures needed for delayed marketing exempt listings. Over the weekend, Compass ‘s new Addendum to Listing Agreement form began to circulate on social media alongside the seller advisory form debuted last week by eXp Realty.

Brokerage 329

Brokerage MLS Agents As-is 329

Housing Wire

APRIL 22, 2025

Down Payment Resource (DPR) today released its Q1 2025 Homeownership Program Index (HPI) report, which saw the number of entities offering homebuyer assistance programs increase by 55 year-over-year. The number of programs increased by 43 during the first quarter, bringing the total number of available programs to 2,509 the highest recorded by DPR.

Closing costs 322

Closing costs Loans Closing Finance 322

Housing Wire

APRIL 22, 2025

Class Valuation has expanded its national sales team with the hirings of Jim Bannister and Scott Shaw as senior executives, the company announced Tuesday. The duo brings more than 45 years of combined experience in mortgage lending, financial services and financial technology to Class Valuation , an appraisal management company that is continuing to grow its leadership ranks.

Sales 352

Sales Lending Technology Industrial 352

Housing Wire

APRIL 22, 2025

In todays mortgage market, traditional mortgage products are no longer the one-size-fits-all solution they once were. The economy is now driven by entrepreneurs, investors, high-income earners, and young adults who thrive in the gig economy. These borrowers are driving a demand for alternative mortgage products. For these borrowers, non-qualified mortgage (non-QM) loans offer a premium alternative to conventional options.

Lending 312

Lending Loans Investor Design 312

Housing Wire

APRIL 22, 2025

Today’s mortgage lending environment is shifting rapidly. Purchase loans are now outpacing refinances, and interest rates are reaching the stratosphere. Meanwhile, affordability is becoming a dream for many borrowers. Also, lenders feel the impact of high rates, as they struggle to find the right clients. However, one mortgage company is in a prime position to transform the market and deliver value to mortgage professionals.

Lending 369

Lending Loans Mortgages Technology 369

Housing Wire

APRIL 22, 2025

Spring marks the peak season for the U.S. housing market, with more listings hitting the market and warmer weather making it easier for buyers to tour homes and explore their options. Traditionally, this season brings a surge in purchase activityand in 2025, that trend is especially important for lenders to watch closely against the backdrop of a high-interest rate environment.

Loan Officer 378

Loan Officer Finance Loans Mortgages 378

Housing Wire

APRIL 21, 2025

A majority of agents believe 2025 is going to be a great year for the housing market, with 85% saying they have an optimistic outlook , and 70% believing the market will be more stable, according to a new survey from Clever Real Estate. Although agents are split on whether its going to be a buyers market or a sellers market, 87% of agents predict that demand will remain very strong over the next year.

Agents 368

Agents As-is Construction Banks 368

Housing Wire

APRIL 21, 2025

As one of only a few states considering more stringent regulation of the home equity investment (HEI)/home equity contract product category, lawmakers in the state of Washington have requested an academic study to assess the impacts on state residents who may use an HEI to tap into their home equity. The Washington State Department of Financial Institutions has commissioned a formal academic study on the topic of HEI products.

Equity 326

Equity Principal Loans Mortgages 326

Housing Wire

APRIL 21, 2025

A high-performing Colorado real estate team has joined one of Denver s largest brokerages. Mile High Lifestyles , led by co-founder Jaden Hanson, has joined Your Castle Real Estate , bringing 25 residential agents to the firm. Since then, the team has doubled in size, according to Hanson. In 2024, RealTrends listed Mile High Lifestyles as the No. 10 large team in Colorado and included it among the top 500 large teams in the U.S. for a sixth straight year.

Brokerage 341

Brokerage Residential Agents Development 341

Housing Wire

APRIL 21, 2025

Homebuyers paid an average of $4,661 in closing costs on purchase mortgages last year, according to a new report from LodeStar Software Solutions. The company released its first-ever purchase mortgage closing cost report. The findings showed that, on average, closing costs represented 1.06% of home sale prices at the national level. The median percentage came in slightly lower at 0.88%.

Closing costs 392

Closing costs Closing Mortgages Sales 392

Housing Wire

APRIL 21, 2025

Veteran mortgage executive Randell Gillespie has been named president of Kansas City -based mortgage shop LeaderOne. Gillespie joins LeaderOne following a long stint at Thrive Mortgage and Lower , which merged in early 2024. He most recently served as chief production officer at the combined company before his departure in February 2025. This company was built for these times with an incredibly strong capital base, a genuine care culture, and forward thinking creativity supported by proprietary

Loan Officer 397

Loan Officer Banks Mortgages Loans 397

Housing Wire

APRIL 21, 2025

U.S. home sellers offered concessions to buyers in near-record numbers during the first quarter of 2025 as rising housing costs , high mortgage rates and growing economic uncertainty continued to reshape the real estate landscape. According to a new report from Redfin , 44.4% of home sales from January through March included concessions such as money toward repairs, closing costs or mortgage rate buydowns.

Seller concession 446

Seller concession Purchase and sale agreement Closing costs New Construction 446

Housing Wire

APRIL 18, 2025

Property tax collections on U.S. single-family homes fell slightly in 2024 despite continued growth in home values , according to an analysis released Thursday by ATTOM. The report, based on tax data from nearly 86 million homes nationwide, found that $357.5 billion in property taxes were levied in 2024 a 1.6% decrease from the previous year. But the average tax bill rose to $4,172, up 2.7% from 2023.

Marketing 349

Marketing 349

Housing Wire

APRIL 18, 2025

Reverse mortgages have a minimum age requirement that serves as a key differentiator for the product. But it also leads to questions about how much or how little technology tools can or should interact with the business. But things seemed to take a step forward last week when one of the leading lenders in the space, Fairway Independent Mortgage Corp. , announced that it was implementing hybrid e-closings into its reverse mortgage processes.

Technology 355

Technology Mortgages Industrial Finance 355

Housing Wire

APRIL 18, 2025

Nearly half of real estate transactions reviewed in the first quarter of 2025 showed signs of potential wire and title fraud, according to a report from FundingShield. The company analyzed a portfolio of residential , commercial and business-purpose loans totaling approximately $80 billion. It found that 46.8% of these transactions contained issues that could lead to fraud, with each problematic loan averaging 2.5 errors the highest number on record.

Title 363

Title Closing Commercial Loans 363

Housing Wire

APRIL 18, 2025

Real estate technology and agent services firm Place is continuing its acquisition spree. On Thursday, the firm announced that it had purchased real estate software firm Remine for $1.5 million in cash at auction. The $1.5 million sales price is less than 3% of what four MLSs paid for the company in October 2021. The deal, which is expected to close in the next two weeks, was first reported by Inman News.

MLS 352

MLS Bankruptcy Technology Sales 352

Housing Wire

APRIL 18, 2025

Patrick Stone, the founder and chairman of Williston Financial Group (WFG), is celebrating 50 years in the real estate industry a milestone that coincides with the 15th anniversary of WFG, which he launched in the wake of the Great Recession. Its surreal, Stone said. I started in April of 1975. I never thought Id still be at it five decades later, but I love this business the people, the challenge, the evolution of it all.

Title 370

Title Residential Industrial Commercial 370

Housing Wire

APRIL 18, 2025

First American Data & Analytics has launched a new product designed to help lenders identify title issues earlier in the mortgage and home equity loan process, with the goal of cutting delays and reducing closing times. The product, called VeriTitle, provides lenders with early title status insight by analyzing property and ownership data at the start of a loan application.

Title 367

Title Equity Loans Closing 367

Housing Wire

APRIL 18, 2025

Marc Trachtenberg chairman and CEO of Silk Title Company has spent a career in mortgage and title insurance companies finding ways to break from the status quo, creating innovative, forward-thinking solutions along the way. He doesnt plan to stop any time soon. He actively searches for new and groundbreaking ways to improve his companies and inject innovation and creativity into the industry.

Title 397

Title Technology Industrial Mortgages 397

Housing Wire

APRIL 18, 2025

Navigating the home buying process often begins with deciding between a new build or an existing homeand while new construction offers exciting possibilities, it also comes with unique challenges. With years of experience guiding clients through the process, weve seen firsthand the most common mistakes, misconceptions and pitfalls that can turn an exciting journey into a stressful one.

Purchase and sale agreement 370

Purchase and sale agreement New Construction Construction Closing costs 370

Housing Wire

APRIL 17, 2025

Bill Ackman, the billionaire founder of Pershing Square Capital Management , has an audacious plan to privatize Fannie Mae and Freddie Mac without congressional approval. The proposal involves the federal government forgiving hundreds of billions of dollars while also reducing capital requirements. As a result, Ackman claims the plan would boost the stock prices of both companies to the $30 range without putting upward pressure on mortgage rates.

Pre-approval 538

Pre-approval Mortgages Equity Banks 538

Housing Wire

APRIL 17, 2025

Top U.S. mortgage lender United Wholesale Mortgage (UWM) on Wednesday became the target of a lawsuit from the Ohio Attorney General, Dave Yost, who claims UWM conspired with mortgage brokers to steer loans and rip off consumers in Ohio. The case seeks to hold UWM “accountable for orchestrating and executing a deliberate scheme to deceive thousands of Ohio homebuyers into paying millions of dollars in improper fees and excessive interest rates on their mortgages.

Lending 393

Lending Loans Mortgages Residential 393

Housing Wire

APRIL 17, 2025

On Thursday, the Mortgage Bankers Association (MBA) and other housing groups signed a joint letter in support of the bicameral and bipartisan trigger lead bills known as the Homebuyers Privacy Protection Act, or H.R. 2808 and S. 1467. If enacted, the legislation would curb the use of mortgage credit trigger leads in all but a limited set of circumstances.

Mortgages 363

Mortgages Banks Finance Loans 363

Housing Wire

APRIL 17, 2025

Independent mortgage banks ( IMBs ) and mortgage subsidiaries of chartered banks reported an average profit of $443 on each loan they originated in 2024, up from an average loss of $1,056 per loan in 2023, according to the Mortgage Bankers Association (MBA)’s annual Mortgage Bankers Performance Report. After two preceding years of net losses, net production income was back in the black in 2024, Marina Walsh , MBAs vice president of industry analysis, said in a statement.

Loans 365

Loans Banks Mortgages Industrial 365