Tue.Sep 17, 2024

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‘Combative’ Portland housing market is having post-pandemic growing pains

Housing Wire

To get a sense for what the mood is among real estate agents right now, look no further than Portland , Oregon. Like the vast majority of the country, the city’s housing market has been stymied by high mortgage rates, low inventory and mismatched expectations between buyers and sellers. But now that the new rules related to the National Association of Realtors ‘ (NAR) settlement have taken effect, there’s added confusion, anxiety and uncertainty, leaving agents to wrestle with tensions at

Marketing 456
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It’s decision time for the Fed, but it may be coming too late

Real Estate News

While a rate cut — which could further drive down mortgage rates — would help homebuyers, there are other headwinds at play in the final months of 2024.

Mortgages 262
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Fed policy is set to change. How will mortgage rates respond?

Housing Wire

Federal Reserve policymakers are expected to lower the benchmark interest rate on Wednesday for the first time in more than four years. But it appears to be anyone’s guess as to how large the cut will be. Interest rate traders were giving shorter odds on Tuesday afternoon to a cut of 50 basis points (bps), which would trim the Fed’s target range to 4.75% to 5%.

Mortgages 432
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Mortgage Rates Drop to Lowest Level in over a Year and a Half

Keeping Current Matters

Mortgage rates have hit their lowest point in over a year and a half.

Mortgages 311
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The Broker Action Plan for the Post-NAR Lawsuit Landscape

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.

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Unison unveils ‘hybrid’ home equity sharing loan

Housing Wire

Home equity solutions provider Unison launched a new product on Tuesday that combines the features of traditional mortgage financing and emerging home equity investment (HEI) options. The San Francisco -based Unison calls its new offering the Equity Sharing Home Loan. The company explained that the product operates as a ”hybrid between debt and equity.

Equity 431

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Homebuilders have a rosier outlook now that mortgage rates are falling

Housing Wire

Homebuilder confidence has been declining for months, but positive developments with mortgage rates are giving them a rosier outlook. That’s according to the September Housing Market Index (HMI) from the National Association of Home Builders (NAHB) and Wells Fargo. The index rose to 41, growing by two points relative to August. A score above 50 means that a majority of builders are confident about market conditions.

Mortgages 431
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Mortgage payments cheaper than rent in nearly half of all US metros

Inman

Mortgage rates have dropped to their lowest levels since 2023 in 22 of the 50 largest U.S. metros — even as rent prices continue to rise, according to a new analysis from Zillow released on Monday.

Mortgages 187
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To expand housing counseling services, HUD taps Zillow

Housing Wire

The federal government is launching a campaign on Zillow to help provide housing counseling services to more Americans. The Department of U.S. Department of Housing and Urban Development (HUD) on Tuesday also will publish a new final rule in the Federal Register to expand accepted communication methods for counseling clients. Zillow advertising partnership Zillow is estimated to reach more than 200 million users per month, and the partnership includes advertising for HUD’s “Let’s Make Home the G

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Attorneys request $226M from NAR and HomeServices deals

Inman

Law professor estimates the plaintiffs' law firms are asking for only 3 percent of the total value of the deals when 'historic' business practice changes are taken into account.

MLS 187
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Tech-Forward Strategies for Scaling Agent Efficiency & Accelerating Growth

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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Canada is funding research on tech’s role for aging in place

Housing Wire

The government of Canada is moving to federally fund research from Ontario-based Brock University, which will seek to better understand how smart-home technology impacts the prospects for older people wanting to age in place in their homes. Technology companies, entrepreneurs and governments alike have been showing additional signs of interest in smart-home technology and the potential relief it could provide for seniors looking to remain in their homes.

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6 must-have safety tools to protect and boost your business

Inman

If you want to add to your safety and security toolbox, build value, protect your clients and stay safe in the field, check out these recommendations from Tracey “The Safety Lady” Hawkins.

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UMortgage CEO: “Our veterans deserve better,” following the news of recent veteran lending malpractices

Housing Wire

Anthony Casa, President & CEO of UMortgage , isn’t mincing words when it comes to the lending practices that often victimize our veterans. “Our veterans deserve better. Unfortunately, it’s far too common for lenders to prioritize their own profits over the financial well-being of those who have served our country,” Casa shares. “These lenders take advantage of the profit margins on VA loans to charge veterans inflated fees and higher interest rates.

Lending 410
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How can I really be sure sellers will pay the buyer’s agent (me)?

Inman

The new commission rules are confusing. Compliance expert Summer Goralik unpacks whether it’s possible to confirm if a seller is willing to compensate buyer’s agents.

Agents 194
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Boldtrail Backoffice - Take The Quiz to See What Package Is Right For You

BoldTrail BackOffice provides a single, streamlined solution to manage agent onboarding and billing and commission tracking and disbursements, along with agent management, reporting, and accounting - so your brokerage can run smoothly & profitably. Our #1-rated back office solutions have exactly what your business needs to deliver a seamless experience for your clients and your team.

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Highly leveraged loans on the GSEs’ books are a real fiscal danger, Calabria argues

Housing Wire

The spread on mortgage-backed securities (MBS) trouble many industry professionals, and at a recent roundtable discussion, it spurred an interesting discussion on the degree of risk being absorbed by Fannie Mae and Freddie Mac. At policy panels held by the Community Home Lenders of America (CHLA) on Monday in Washington, D.C., former Federal Housing Financing Agency (FHFA) director Mark Calabria made the argument that a larger credit box has caused the government-sponsored enterprises (GSEs) to

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Umansky threatens to sue NAR as pocket listing pressure mounts

Inman

The Agency CEO and founder said he plans to revive a lawsuit against NAR over a pocket listing network. The threat came days after NAR officials convened to reevaluate Clear Cooperation.

MLS 161
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Curbio settles fraud case; NAR partnership remains in place

Housing Wire

Curbio, a home renovation startup that specializes in pre-sale work, has agreed to settle fraud allegations made by the Office of the Attorney General for the District of Columbia. As part of the settlement, Curbio agreed to pay $7.5 million. The company denied wrongdoing and said in a statement that it agreed to the settlement because “the time and money we would spend over the next two years to clear our good name would be better spent doing what we do best.

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Michael Jordan’s Northern Chicago mansion scores potential buyer

Inman

After 12 years on the market, Jordan’s Highland Park mansion is finally in contingency following price cuts totaling nearly $15 million. In the end, the final list price clocked in at $14.855 million.

Marketing 180
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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.

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Carlyle to buy up to $300M of equity sharing home loans from Unison

Housing Wire

Global investment firm Carlyle has agreed to purchase up to $300 million of equity sharing home loans from home equity solutions provider Unison. Carlyle also made a strategic investment into the San Francisco-based Unison, enabling it to launch its Equity Sharing Home Loan product. “We are excited to partner with Unison to provide an attractive solution for homeowners to access their appreciating home equity,” Akhil Bansal, Carlyle’s head of credit strategic solutions, said in a st

Equity 409
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Oregon real estate brokerages merge under RE/MAX banner

Inman

Announced Friday, the merger will unite RE/MAX Key Properties and West + Main Homes Oregon. The new company will tout the RE/MAX name and resume operations with nearly 90 agents.

Brokerage 161
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Foreclosures decline, but Attom says to watch for ’potential housing market instability’

Housing Wire

Higher mortgage rates and related affordability challenges are putting the squeeze on homeowners who have fallen behind on their mortgage payments, but foreclosure activity took a step back in August. According to the monthly foreclosure report from Attom , foreclosure filings fell 5.3% compared to July and completed foreclosures dropped by 12%. A total of 30,227 homes faced foreclosure filings, a far cry from the 300,000 per month seen during the 2008 financial crisis.

Marketing 409
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Tongo’s agent-focused finance app ready for market

Inman

A new solution to help brokers administer financial benefits to agents is now available from Tongo, a company that “builds financial products that cater to the needs of the commission economy.

Finance 176
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The 4 Most Impactful Actions to Take in Real Estate in 2024

Strategic real estate professionals know that the name of the game right now is to stay informed, adaptable, and ready to make confident decisions. In this free download, Inside Real Estate CEO, Joe Skousen, shares what he believes are the top 4 most impactful actions in real estate right now. We've been actively engaging with industry experts, analyzing data, and listening intently to the experiences of our agents on the ground.

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FOA announces amendment and update for bond exchange offer

Housing Wire

Industry-leading reverse mortgage lender Finance of America (FOA) on Tuesday announced updates and new details for a previously announced exchange offer , which would swap current investor bonds due in 2025 with new bonds due one to four years later. The current unsecured notes, due in 2025 with an interest rate of 7.875%, could be swapped for one of two new bond options — those with the same interest rate due in 2026 (with a company option to extend into 2027), or new bonds with a 10% interest

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Pennymac joins Rocket in boosting conforming loan limit to $802,650

Inman

Lenders have gotten into the habit of helping some homebuyers avoid jumbo loans by raising their limits before an official announcement by Fannie Mae and Freddie Mac's federal regulator.

Loans 171
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Lone Wolf launches new tools designed to help buyer agents

Housing Wire

The role of the buyer’s agent has been turned on its head and Lone Wolf Technologies wants to help. The real estate software company is launching a “Buyer’s Agent Club” that is designed to assist agents in navigating an uncertain time in the industry through resources, tools and training. “For decades, Lone Wolf has been a pillar in real estate technology, and for good reason,” Lone Wolf CEO Jimmy Kelly said in a statement. “We’ve always made it a priority to innova

Design 405
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Frustrated? Here’s why leaving NAR won’t solve the problem

Inman

Despite its problems, brokerage CEO Sean Frank writes, NAR membership is still the logical option for real estate professionals.

Brokerage 172
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Accelerating Real Estate Sales Pipelines to Streamline Buyer Journeys

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.

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Atlas Merchant Capital, A&D Mortgage announce JV partnership 

Housing Wire

Global investment firm Atlas Merchant Capital and Florida-based lender A&D Mortgage have announced a joint venture (JV) to expand A&D’s $7 billion mortgage securitization platform. The JV, which will draw from a combination of internal and third-party capital sources, will purchase mortgages originated and serviced by A&D and other lenders.

Mortgages 315
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Mariah Carey has racked up $18.6M in mortgage debt

Inman

After buying a Tribeca penthouse for $9 million cash in 1999, the pop star has borrowed millions in loans on the pad's equity in order to fund her lavish lifestyle.

Equity 167
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Data: The Fuel for Success

RIS Media

In 2024 and beyond, data is the new oil. In the ever-evolving real estate market, brokers need access to seamless data integration to stay competitive. REsides, Inc., an independent property network, is here to provide brokers with the modern tools and data security they need to thrive. Data transparency It is important that brokerage data… The post Data: The Fuel for Success appeared first on RISMedia.

Brokerage 128