RIS Media

OCTOBER 4, 2023

Mortgage applications fell again this week, down 6.0% from last week’s 1.3% drop the week earlier, according to the latest Weekly Mortgage Applications Survey from the Mortgage Bankers Association’s (MBA) released Wednesday. This week’s numbers: The Market Composite Index, a measure of mortgage loan application volume, decreased 6.0% on a seasonally adjusted basis from one… The post Mortgage Applications Continue Declining in Response to Ongoing Rate Hikes appeared first on RISMedia.

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Housing Wire

OCTOBER 4, 2023

Mortgage applications ground to a halt for the week ending Sept. 29, falling 6% from the week prior as mortgage rates jumped to a 23-year high of 7.53%, according to new weekly data from the Mortgage Bankers Association. Mortgage application activity is now at its lowest level since 1996, the MBA reported. Purchase mortgage application volume, in particular, slowed considerably for the week ending Sept. 29, down 22% from a year ago, according to unadjusted data.

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Keeping Current Matters

OCTOBER 4, 2023

Are you considering buying your first home?

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Housing Wire

OCTOBER 4, 2023

Fannie Mae on Wednesday released its October 2023 update to its Selling Guide, aiming to reflect changes in the mortgage industry, its surrounding regulatory environment and Fannie Mae policy positions. The first update is a change to the documentation requirements for rental income that is used in a qualifying decision. “We updated our policies for rental income to address various questions received from lenders,” the update explained.

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Real Estate News

OCTOBER 4, 2023

A Homes.com exec told Real Estate News that its “playbook for growth is working,” but some competitors and outside observers see the data differently.

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Housing Wire

OCTOBER 4, 2023

In an environment where 30-year fixed mortgage rates are racing towards 8%, loan officer pipelines are thinning dramatically. Originators who primarily served move-up buyers with high credit scores and strong down payments are struggling to find clients. But LOs who cater to first-time homebuyers’ needs – offering FHA loans and down payment assistance loans — are faring better, Michael Ullmann, producing branch leader at Movement Mortgage , explained.

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Housing Wire

OCTOBER 4, 2023

Indiana-based First Savings Bank plans to lay off over 100 mortgage employees in the coming months, according to documents filed with authorities in multiple states. News of the plans come as political instability and a strong job market push mortgage rates closer to 8%. “First Savings Bank has planned a layoff in which a significant portion of impacted employees are considered remote or virtual employees in multiple states,” Julie Bleich, senior vice president and human resources dir

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Real Estate News

OCTOBER 4, 2023

The company says eXp Exclusives is not meant to replace MLSs, but it provides a way to work with sellers who want to keep their listings private.

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Housing Wire

OCTOBER 4, 2023

San Francisco-based real estate team OWN Real Estate joined Keller Williams , the company announced on Wednesday. Founded by Wilson Leung, the team has 19 real estate agents and six staff members. In 2022, OWN Real Estate sold 80 homes, amounting to more than $107.1 million in sales volume, according to a news release. “Keller Williams teaches agents to run profitable businesses with good margins and reserves, and in my eyes, exemplifies this given they are one of the few private brokerag

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Real Estate News

OCTOBER 4, 2023

As for-sale listings have declined, more MLSs are integrating rental tools that can help members sustain their business in a slower market.

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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

OCTOBER 4, 2023

As major home insurance carriers are increasingly pulling back their coverage options in disaster-prone areas, hundreds of thousands of people are moving to state-sponsored “last resort” insurance plans originally designed to offer a temporary fix. According to reporting from the Wall Street Journal, such plans — typically used for those who have no other options in securing home insurance — are increasingly becoming the first or only choice for homeowners who have been left to pick up the piece

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Inman

OCTOBER 4, 2023

Economists are scratching their heads and housing industry leaders are venting their frustrations as mortgage rates continue a relentless climb to new heights not seen in more than two decades.

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Mortgages Industrial Loans Marketing 202

Housing Wire

OCTOBER 4, 2023

Judge Patti Saris of the U.S. District Court in Boston granted the Department of Justice’s request to extend all settlement related deadlines in the Nosalek buyer broker compensation class action lawsuit on Tuesday. The final settlement hearing deadline is now scheduled for March 7, 2024, instead of Jan. 4, 2024. In a statement of interest filed last Thursday, the DOJ noted that it had “significant concerns” about the proposed antitrust settlement agreement between home sellers and MLS Property

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Inman

OCTOBER 4, 2023

Economists, homeowners and agents broke down the alarming but true cost of buying property in 2023, telling Intel that rising rates and home prices are only the start for wallet-stretched buyers.

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Housing Wire

OCTOBER 4, 2023

A once-in-a-century pandemic, global inflation, supply chain shocks – 2020 truly was a pivotal year. Now, newly released data from the U.S. Census Bureau shows how the business landscapes changed for homebuilders , lessors, agents , brokerages and other real estate professionals in the first full year after the pandemic began. The effects on each industry segment were disparate, the most recently available data for 2021 shows.

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Inman

OCTOBER 4, 2023

There are so many moving parts when it comes to real estate. What's the best piece of advice you ever got from a coach, trainer or mentor?

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Agents 195

Housing Wire

OCTOBER 4, 2023

A federal judge in New York has decided to dismiss the majority of accusations made by a former top executive at Better against the digital nonbank lender and other high-level executives, including claims related to labor and securities laws violations. However, Judge Analisa Torres, from the federal court of the Southern District of New York, ordered on Sept. 29 that the case will proceed with other claims, such as intimidation and retaliation, according to court filings.

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Inman

OCTOBER 4, 2023

The spacious duplex on Manhattan's Upper West Side sold for $4.5 million under asking after listing over a year ago.

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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.

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Housing Wire

OCTOBER 4, 2023

Digital lending platform Revvin joined forces with Truework , an income and employment verification platform, to provide comprehensive income verification coverage. The new partnership will allow lenders who use the Revvin platform to automatically verify any borrower at any point of the loan application process, according to a news release. Income verification technology is typically used for the loan origination process.

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Inman

OCTOBER 4, 2023

"It’s been far too long since the established practices were set in place, and with the changing times, it’s not just real estate agents who need to pivot to remain successful," writes broker Mayleene DeFreece. Redfin's departure from NAR reminds us of the importance of choice and transparency.

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Housing Wire

OCTOBER 4, 2023

Federal lawmakers in both the U.S. Senate and the House of Representatives introduced new bills requiring title insurance on mortgages purchased by government-sponsored enterprises (GSEs). On Thursday, U.S. Reps. Andrew Garbarino, R-N.Y., and Vicente Gonzalez, D-Texas, introduced House Bill 5837. The bill is also known as The Protecting America’s Property Rights Act and is the companion bill to Senate Bill 2687 , which was introduced in late July 2023.

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Inman

OCTOBER 4, 2023

Redfin's latest survey of 5,000 buyers and renters reveals LGBTQ+ consumers disproportionately struggle with a lack of family support, saving a down payment and finding communities that protect gender, sexual and racial diversity.

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Marketing 183

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Agents

Housing Wire

OCTOBER 4, 2023

California-based home equity investment firm Splitero launched its own real estate brokerage , Splitero Homes, this week. It is available in four states, California, Colorado, Oregon and Washington and will help homeowners “sell for a higher price,” the company said. Launched in 2021, Splitero’s main focus is on home equity investments (HEI), which differs from home equity lines of credit (HELOC).

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Inman

OCTOBER 4, 2023

CoStar CEO Andy Florance dished with Intel about the commission lawsuits, nemesis Zillow and NAR as Homes.com nabbed 100 million unique visitors for the first time ever in September.

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Housing Wire

OCTOBER 4, 2023

HousingWire recently spoke to Chris McLain, division president of Valuations for Consolidated Analytics , about the current appraisals market, AI innovation in valuations and valuation products for HELOCs and second-lien mortgages. HousingWire: How is the market for appraisals changing in 2024? Chris McLain: We all thought radical change was coming … a decade ago.

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Inman

OCTOBER 4, 2023

Economists are scratching their heads, and housing industry leaders are venting their frustrations as mortgage rates continue a relentless climb to new heights not seen in more than two decades.

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Mortgages Industrial Loans Marketing 179

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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

OCTOBER 4, 2023

Lenders that adopt artificial intelligence (AI) or machine learning (ML) into the mortgage lending landscape want to see operational efficiency, Fannie Mae ’s mortgage lender sentiment survey showed. The survey found that lenders’ motivation to adopt AI and ML for operational efficiency has increased significantly (73%) compared to 2018 (42%) when Fannie Mae conducted a survey on the same topic.

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Inman

OCTOBER 4, 2023

Growing your influence and getting your name "out there" in your local market means more than just creating content. It’s also about how you refine and distribute it. Broker Troy Palmquist talks with San Francisco Realtor Brooks Landry about his content strategy.

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Bigger Pockets

OCTOBER 4, 2023

This new idea from the Department of Housing and Urban Development is controversial, but it could work.maybe?

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Inman

OCTOBER 4, 2023

Amidst an industry in turmoil, the real estate female empowerment and advocacy organization has launched a new campaign to "spur action on behalf of women in real estate.

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