Lenders can use closing technology as a bargaining chip

Housing Wire

Additionally, borrowers have stated that the two most appreciated aspects of an online application process were “a simpler application process (55%) and reduced time to close (53%).” Creating a tech stack geared towards increasing closing efficiency isn’t just about offering eClosings.

After $223M loss in Q2, loanDepot closes wholesale channel

Housing Wire

The decision to close the channel also reflects fierce competition from its peers in the broker space, primarily from United Wholesale Mortgage (UWM). The gain-on-sale margin also nosedived to 1.16% in the second quarter, down from 1.96% in the previous quarter.

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2022 Tech100 nominations are closing soon!

Housing Wire

Nominations for the 2022 HousingWire Tech100 Mortgage and Tech100 Real estate are closing today. The Tech100 Mortgage Award recognizes the companies and solutions that are revolutionizing the mortgage process – from origination to closing, and servicing to secondary markets.

Purchase market will highlight closing process problems

Housing Wire

The closing process, that time between underwriting approval and the actual closing, is the mortgage industry’s not-so-secret Achilles’ heel. That’s not a knock on the good professionals who enact minor miracles choreographing the multi-faceted ballet that is a typical closing.

Millennials are Determined and Prices are Soaring: The Step-by-Step Formula for Closing More Sales to Millennial Buyers Fast!

Speaker: Paul Moya - CEO, Millennial Labs, and The Go-To Performance Marketing Strategist and Realtor Coach for the Best in the World

Join Paul Moya, CEO of Millennial Labs and the Go-To Performance Marketing Strategist and Realtor Coach for the Best in the World, as he shares insights and information about the importance of understanding a buyer and how their needs change with each generation.

Existing home sales now outperforming

Housing Wire

The National Association of Realtors ‘ existing home sales report for October came in at a solid beat of estimates at 6.34 This number is above my trend sales peak of 6.2 million and that means we have had back-to-back existing home sales prints of over 6.2 NAR : Sales fell 5.8%

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Are new home sales flagging a recession?

Housing Wire

Tuesday, the new home sales report officially put that sector in the penalty box, and we are very close to raising the fifth recession red flag. When new home sales and housing starts begin to fall together, a recession is usually not far away. From Census : Sales of new single?family

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New home sales are up 28% — but don’t believe the hype

Housing Wire

New home sales came in as a massive beat of sales estimates, with a 28% month-to-month increase. And, out of the 461,000 new homes available for sale, only 49,000 have been completed and are available to be occupied. They will build as long as new home sales are growing.

Sales 401

Reverse mortgage originator: real estate CE helps close more purchase loans

Housing Wire

I closed 28 H4P transactions last year, over 1% of the national total. The post Reverse mortgage originator: real estate CE helps close more purchase loans appeared first on HousingWire. Featured Marketing & Sales Premier Mortgage Resources

Mid America Mortgage rebrands to Click n’ Close

Housing Wire

Texas lender Mid America Mortgage rebranded as Click n’ Close to expand into the mortgage technology industry following the sale of the majority of its retail lending operations. The post Mid America Mortgage rebrands to Click n’ Close appeared first on HousingWire.

Realogy Closes Sale of Insurance Underwriter

RIS Media

has announced the sale of title insurance underwriter, Title Resources Guaranty Company , to an affiliate of private investment firm Centerbridge Partners, L.P. The post Realogy Closes Sale of Insurance Underwriter appeared first on RISMedia. Realogy Holdings Corp.

CoreLogic: Jump in home-purchase closing costs outpaces refi loans

Housing Wire

Closing costs for homeowners who jumped on the refi wave in 2021 increased at less than one-third the pace of closing costs for home purchases as homebuyers had to cope with a hot market that fueled higher home-sale prices and related settlement costs.

New home sales juggernaut continues

Housing Wire

Sales of new homes rose to an annualized rate of 999,000 in October – 0.3% With October’s data in, new home sales have had the strongest three-month stretch since mid-2006, with each month falling just short of 1 million. months at the current sales rate.

Sales 419

Pending home sales down again in September

Housing Wire

After rising 8% in August, pending home sales dropped 2.3% in September, according to the National Association of Realtor’s pending home sales index report released on Thursday. Pending contracts are good early indicators of upcoming sales closings.”.

Sales 364

Sales Blitz for Year-End Closings

RIS Media

For real estate professionals, however, the approach of the fourth quarter is a good time to remind ourselves that the year will end, and that we need to make a final push now to drive sales both immediately and throughout the remaining four months.

Existing home sales are still too hot

Housing Wire

The National Association of Realtors reported that existing home sales for January were at 6,669,000, which beat estimates. The median sales price also jumped 14.1% The chart below shows the 10-year yield as of the close of Thursday. If existing home sales stay above 6.2

Sales 417

Millennials are driving US home sales

Housing Wire

Existing home sales rose for the second consecutive month , as January saw a seasonally-adjusted annual rate of 6.69 Sales easily could have been even 20% higher if there had been more inventory and more choices,” Yun said. Yun predicts existing-home sales will reach at least 6.5

Sales 427

Existing home sales data continues to outperform

Housing Wire

The National Association of Realtors reported that existing home sales for November came in hot at 6.46 This number is above my sales trend peak of 6.2 million, which means we have now had three straight months of sales of over 6.2 Home sales.

Sales 409

NFT mania and the future of the home sale

Housing Wire

Worldwide sales of non-fungible tokens, better known – of course – as NFTs, catapulted from $94.9 But Ethereum was the first with a blockchain that enabled NFT sales. In this particular sale, Heckler worked out an arrangement to receive the commission distribution after the winning bid.

Did existing home sales peak in 2021?

Housing Wire

The National Association of Realtors reported that existing home sales for December came in as a miss of estimates at 6.18 This number is in line with my sales range for 2021 of 5.84 million, but a tad higher than my existing home sales range for 2022, which is between 5.74

Sales 393

How Long Does It Take to Close on a House From Start to Finish?

HomeLight

How long does closing take from here? But the time required to process and underwrite the loan will be in large part what dictates the length of your closing. 24, you can expect to close on the sale of your home somewhere between the end of February to mid-March.

Home sale prices reach record highs — again

Housing Wire

The effects of low housing inventory continue to cause significant ripples in the housing market, as a recent Redfin report shows home sale prices across the country have reached an average of $344,625 — an all-time high, and an 18% increase year over year.

Sales 386

Pending home sales shock 2021 housing crash bears

Housing Wire

Today, pending home sales came in as a big beat of estimates — up 7.5% From the National Association of Realtors : “The Pending Home Sales Index (PHSI), a forward-looking indicator of home sales based on contract signings, rose 7.5% million when adding new home sales.

Sales 419

Mortgage rate volatility affecting pace of new home sales

Housing Wire

Ongoing volatility in mortgage rates in the months ahead may lead to larger than typical swings in the pace of new home sales,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting. Mortgage Joel Kan MBA New Home Sales

Sales 311

Despite 3-month slump, pending home sales look just right

Housing Wire

On Friday, the National Association of Realtors released its pending home sales data showing a third month of declines. Even though the recent existing-home sales data has been outperforming my expectations , the pending home sales data to me looks more in line with my expectations for 2022.

Sales 355

March new home sales: the last positive revision for 2022?

Housing Wire

Tuesday, the new home sales report for March came in as a miss of estimates at 763,000, but the revisions were all positive, which shows that the housing data is still lagging behind the current market reality. From Census: Sales of new single?family months at the current sales rate.

Sales 311

New home sales plunge 18.2%, but demand stays strong

Housing Wire

After a near decade high in January, new home sales for single-family houses plummeted 18.2% However, continued demand by homebuyers did manage to push new home sales 8.2% As for the West, new sales dropped 9.3% months at the current sales rate.

Sales 419

New home sales are at risk with rising mortgage rates ?

Housing Wire

For 2020-2024, I set some critical parameters for sales and price growth, knowing that this marketplace will be different from the market we had from 2008 to 2019. First, total home sales should be 6.2 This is new home sales and existing home sales combined.

Sales 401

Existing home sales crush the housing bears — again

Housing Wire

The National Association of Realtors ‘ existing home sales report for September came in at an excellent beat of estimates at 6.29 So far this year, every existing home sales print has been higher in 2021 than the closing level of sales in 2020, which was 5.64

Sales 425

Pending home sales continue to slip as 2021 approaches

Housing Wire

pending home sales slid for the third consecutive month in November, dropping 2.6% “It is important to keep in mind that the current sales and prices are far stronger than a year ago.” New home sales and existing home sales both also ticked down last month.

Sales 422

Existing home sales pop the 2021 housing bubble boys

Housing Wire

The National Association of Realtors reported existing home sales for August came in at a very tiny beat of estimates at 5,880,000. So far this year, every existing home sales print has been higher in 2021 than the closing level of sales in 2020, which was 5,640,000.

Sales 419

Short Sale Closing Costs: What Buyers Should Know

HomeLight

If a homeowner falls behind on their mortgage payments, a short sale is one potential way of correcting course. Short sales operate according to the lender’s approval, requirements, and timeline. Short sales 101. Let’s start with the basics: What even is a short sale?

Pending home sales rebound in March

Housing Wire

The trade group reported that pending home sales – that is homes where a buyer signed a contract, but the sale has not closed – rose 1.9 % index points to 111.3 By coincidence,” the NAR explained, “The volume of existing homes sales in 2001 fell within the range of 5 to 5.5

Sales 364

Why are builders happy despite new homes sales miss?

Housing Wire

Today the Census Bureau new home sales report came in as a miss of estimates at 745,000. In contrast to the existing home sales market, which I would say is outperforming currently with the recent growth in sales, the new home sales market is just OK and has been for some time.

Sales 405

The silver lining in the existing home sales report

Housing Wire

year-over-year decline in existing home sales in September and total inventory has now fallen on back-to-back reports. With such massive home-price growth in 2020 and 2021 breaking my affordability model, I knew we were at high risk of a more significant sales decline than usual if the 10-year yield broke over 1.94%, which meant 4% + mortgage rates. Year-over-year, sales waned by 23.8% (down from 6.18 From NAR : Total existing-home sales retracted 1.5%

Sales 253