Keeping Current Matters

NOVEMBER 2, 2023

According to the latest data from Fannie Mae, 23% of Americans still think home prices will go down over the next twelve months.

Marketing 359

Marketing 359

Housing Wire

NOVEMBER 2, 2023

The National Association of Realtors’ longtime CEO Bob Goldberg is leaving the trade association, multiple sources with knowledge of the situation have confirmed to HousingWire Thursday morning. “We are immensely grateful for Bob’s leadership and decades-long service to NAR,” Tracy Kasper, current NAR president, said in a statement. “It has been a privilege to work with him in expanding and strengthening our organization, and we congratulate him on his well-deserved retirement.

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Development As-is Industrial Closing 505

Real Estate News

NOVEMBER 2, 2023

After steadily climbing this fall, average rates — which have been hovering near 8% — inched down this week, but continued fluctuations are likely.

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Mortgages 317

Housing Wire

NOVEMBER 2, 2023

Mortgage rates stabilized this week as the Federal Reserve decided to keep its rates unchanged Wednesday. However, mortgage rates still remain at a 23-year high. The 30-year fixed-rate mortgage averaged 7.76% as of Nov. 2, according to Freddie Mac ‘s Primary Mortgage Market Survey. That’s was down slightly from last week ’s 7.79% and up from 6.95% the same week one year ago.

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Fixed-rate mortgage Mortgages MLS Investor 493

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Development

Real Estate News

NOVEMBER 2, 2023

Nykia Wright, previously CEO of the Chicago Sun-Times, will be interim CEO. Goldberg had previously announced plans to depart in 2024.

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Housing Wire

NOVEMBER 2, 2023

Redfin executives were happy to discuss commission lawsuits during their firm’s third-quarter 2023 earnings call with investors and analysts Thursday evening, just not the one their firm was recently named as a defendant in. “Let’s talk about the copycat lawsuit first, mostly to say that we are not going to talk about it,” Glenn Kelman , Redfin’s CEO said in response to an analyst’s question.

Technology 474

Technology Agents Brokerage Investor 474

Housing Wire

NOVEMBER 2, 2023

HousingWire recently spoke with Mack Walker, SVP of capital markets at Deephaven Mortgage , about how the year went for the non-QM sector and what’s in store for the industry in 2024. HousingWire: How did the non-QM sector fare this year among rate increases, slow purchase volumes and the difficulties in the banking sector? Mack Walker: The non-QM sector is similar to other sectors in the mortgage space that endured headwinds throughout 2023 relative to volume in past years.

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Banks Investor Lending Loans 472

Real Estate News

NOVEMBER 2, 2023

CEO Glenn Kelman told investors its customer focus, including self-service options for buyers, helped improve earnings and could help Redfin grab market share.

Investor 290

Investor Marketing 290

Housing Wire

NOVEMBER 2, 2023

Smart Rate Mortgage, LLC is no longer licensed as a residential mortgage company in Illinois. Meanwhile, Michael Strauss , its only loan officer, now has an inactive status on his license, according to the Illinois Department of Financial and Professional Regulation (IDFPR). In addition, the Nationwide Multistate Licensing System (NMLS) shows that Jacksonville, Florida-based Smart Rate is no longer authorized to conduct business as of Oct. 3, indicating a voluntary surrender.

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Loan Officer Bankruptcy Loans Residential 468

Real Estate News

NOVEMBER 2, 2023

During the company's Q3 earnings call, CEO Carrie Wheeler said she anticipates a quiet fourth quarter but an uptick in home acquisitions next year.

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Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

Industrial

Housing Wire

NOVEMBER 2, 2023

Lone Wolf Technologies announced a new online platform, Lone Wolf Foundation, on Wednesday, designed to support a new generation of Lone Wolf solutions to be released in 2024. The platform will bring “key software from every milestone in the real estate process,” the press release states. Along with Foundation, the first phase of the initiative will include new versions of the Lone Wolf Back Office, Transact Workflow, and BrokerMetrics.

Technology 466

Technology Brokerage Agents Design 466

Inman

NOVEMBER 2, 2023

Despite Vrbo itself struggling, Expedia, the travel booking company that owns the short-term rentals platform, recorded $425 million in profits during the third quarter.

Marketing 187

Marketing 187

Housing Wire

NOVEMBER 2, 2023

Real estate agents are always looking for vetted, high-quality leads — and especially so during 2023 market conditions. One of the most efficient ways to acquire leads is to buy them through lead generation providers. These providers offer a rapid and cost-effective means for real estate agents to gather a list of potential clients and ultimately boost sales.

Branding 453

Branding Agents Brokerage Marketing 453

Inman

NOVEMBER 2, 2023

Available in Arizona, Oregon and Illinois at launch, Better Insurance will expand into Oklahoma, Tennessee and Wisconsin in the next four weeks. The goal is to be in all 50 states in a year.

Mortgages 183

Mortgages Agents Marketing 183

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In the rapidly changing real estate landscape, achieving profitability requires a strategic approach beyond traditional methods. Our guide, "The 4 Pillars to Brokerage Profitability," outlines four essential pillars for scaling your real estate business: a seamless lead-to-close technology ecosystem, tailored integrated solutions for teams and agents, value-added success services and community support, and consumer-centric operations throughout the full homeownership lifecycle.

Brokerage

Housing Wire

NOVEMBER 2, 2023

In the fast-paced world of real estate , success hinges on the ability to connect with clients. Recently, I dedicated some time to listening in on phone conversations between real estate agents and prospective homebuyers during their initial interactions. From this experience, one overarching and fundamental theme emerged: the importance of listening.

Agents 448

Agents Title Industrial As-is 448

Inman

NOVEMBER 2, 2023

Cost-cutting helped the mortgage lending giant rack up its second consecutive profitable quarter, but at $61.45 billion, mortgage originations for the year to date are down 46 percent from a year ago.

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Lending Mortgages Industrial 174

Housing Wire

NOVEMBER 2, 2023

Amid the most challenging mortgage market in decades, Rocket Companies , the parent of Rocket Mortgage , remained profitable in the third quarter of 2023, showing higher margins in the direct-to-consumer and wholesale channels. This was the first earnings delivered by Rocket’s new CEO, Varun Krishna , who focused his conversation with analysts on the potential of artificial intelligence (AI) and other technologies to transform the business.

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Principal Loans Technology Mortgages 448

Inman

NOVEMBER 2, 2023

Find out how this Big Sky brokerage leader prioritizes her team, collaboration and pursuing new development opportunities in her beloved Montana.

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Brokerage Development 173

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As the real estate market evolves, technology has become essential for success. According to NAR, only 26% of agents feel their brokerage provides the necessary tech tools and, as a result, agents seek teams and brokerages who prioritize technology investments! Whether you manage an established team or are forming a new one, this guide outlines key considerations and necessary applications to thrive.

Agents

Housing Wire

NOVEMBER 2, 2023

Virginia-based community bank Trustar Bank sold its mortgage subsidiary to Archer Mortgage Holding Company, the companies announced on Thursday. The financials of the deal were not disclosed. “This strategic move allows Trustar Bank to focus on our core services while still providing portfolio mortgages to our valued customers,” Shaza Andersen, CEO of Trustar Bank, said in a statement.

Banks 447

Banks Mortgages Loan Officer Loans 447

Inman

NOVEMBER 2, 2023

Amidst challenging market conditions, the real estate franchisor's total revenue was down 8.7 percent year over year to $81.2 million, coming just shy of analysts' expectations. The company also suffered a net loss of $59.5 million.

Marketing 167

Marketing Brokerage 167

Housing Wire

NOVEMBER 2, 2023

New York-based digital lender Better Home & Finance Holding Company launched Better Insurance to allow customers to shop for homeowners insurance through a fully digital platform. Better Insurance is the latest innovation available through the company’s insurance arm, Better Cover, which partners with more than 20 different insurance providers, according to the firm.

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Finance Mortgages Industrial As-is 443

Inman

NOVEMBER 2, 2023

The company posted profits of $98.3 million, up 8 percent from the third quarter of 2022, while tallying $269 million in revenue, a decrease of 12 percent from a year ago, according to third-quarter earnings Thursday.

Brokerage 167

Brokerage Agents Marketing 167

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Now more than ever, brokers need to provide agents with the right tools, strategies, and training to effectively demonstrate their expertise, negotiate successfully, and foster strong client relationships. So – what should brokers do to ensure this? Invest in the right technology, continuous education, and innovative marketing strategies that empower agents to stand out in a crowded marketplace.

Agents

Housing Wire

NOVEMBER 2, 2023

While much remains unknown in the wake of the verdict in the Sitzer/Burnett commission lawsuit case, the one certainty is that all three defendants — National Association of Realtors , HomeServices of America and Keller Williams — all plan to appeal. “This matter is not close to being final. We will appeal the liability finding because we stand by the fact that NAR rules serve the best interests of consumers, support market-driven pricing and advance business competition,” Tracy Kasper , NAR’

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MLS Brokerage As-is Industrial 435

Inman

NOVEMBER 2, 2023

The iBuyer saw revenue fall 71 percent year over year in the third quarter of 2023. The company also lost $106 million — a reversal from Q2's net profit.

Technology 167

Technology Marketing 167

Housing Wire

NOVEMBER 2, 2023

California-based nonbank lender loanDepot is suing former chief operations officer Tammy Richards for breach of contract and fiduciary duty, accusing her of stealing confidential information concerning the lender’s customers. The move is part of a legal battle that started in September 2021 when Richards filed a lawsuit alleging the lender closed thousands of loans without proper documentation to boost its performance ahead of its initial public offering (IPO) on the New York Stock Ex

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Debt-to-income ratio Loans Mortgages Technology 432

Inman

NOVEMBER 2, 2023

EXp World Holdings' revenue declined 2 percent annually to $1.2 billion in the third quarter, according to a call on Thursday. The company held onto its profitability, with net income reaching $1.4 million.

Brokerage 158

Brokerage Marketing 158

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Navigated 360° tours, like YourVRTours, advance pipelines by engaging clients further along the sales funnel. These immersive experiences provide comprehensive property insights, increasing buyer intent and readiness. By embracing navigated tours, agents can optimize property exposure, better qualify leads, and streamline the sales process. Stay ahead in the ever-evolving real estate landscape with innovative technology that elevates buyer journeys and progresses pipelines more effectively.

Sales

Housing Wire

NOVEMBER 2, 2023

My, how things have changed. Just a couple years ago there was incredible momentum building around alternative ways to purchase, sell and extract value from residential properties. iBuyers led the way on reshaping the options available to sellers through direct, instant cash offers at scale. The highly competitive purchase market and bidding wars gave rise to power buyer models to help non cash buyers compete.

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Purchase and sale agreement Marketing Equity Finance 424

Inman

NOVEMBER 2, 2023

Prominent proptech company Lone Wolf Technologies used the stage at an industry conference to present a revamped product line set to roll out to real estate brokerages in phases starting in 2024, a Nov. 1 press release said.

Staging 158

Staging Technology Brokerage Industrial 158

Housing Wire

NOVEMBER 2, 2023

HousingWire Editor in Chief Sarah Wheeler sat down with David Coleman, president of MISMO , to talk about what’s changed in technology over the last 15 years, and what still needs to change. This interview has been edited for length and clarity. Sarah Wheeler: The cost to originate is still high when you consider all the tech being deployed. On the other hand, the tech itself costs money.

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Technology Lending Banks Mortgages 388

Inman

NOVEMBER 2, 2023

Since announcing a $30 million Series A funding round last year, Vesta has added partners and integrations at a rapid clip, including integration with Willow Servicing.

Mortgages 156

Mortgages Technology 156

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