Housing Wire
MAY 20, 2024
A coalition of Democratic and independent members of the U.S. Senate , led by Sen. Elizabeth Warren (D-Mass.), is expected to introduce a new bill on Monday that seeks to immediately renew a push for the funding of public housing to the tune of $70 billion. “Expanding our supply of quality housing is the only way to dig ourselves out of this housing crisis,” Sen.
Keeping Current Matters
MAY 20, 2024
If you’re thinking of making a move this year, there are two housing market factors that are probably on your mind: home prices and mortgage rates.
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Housing Wire
MAY 20, 2024
Fraud and forgery claims represented more than one-fifth of the total dollars spent by title insurers on claims expenses and losses over the past decade, according to a study conducted by Milliman and commissioned by the American Land Title Association (ALTA). Between 2013 and 2022, title insurers recorded 203,181 claims for policies written during that time, and they paid out $4.4 billion in claims related to losses and loss expenses.
Real Estate News
MAY 20, 2024
With many owners of existing homes hesitant to give up their low mortgage rates, new homes continue to account for an outsize share of the market.
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Housing Wire
MAY 20, 2024
The setting could not have been more appropriate. Rohit Chopra , the head of the Consumer Financial Protection Bureau , and frequent critic Bob Broeksmit, the president and CEO of the Mortgage Bankers Association , sparring on stage over what constituted a junk fee. Chopra, the consumer watchdog, noted that there was actually some middle ground — lenders and consumers are both being overcharged by the credit reporting industry, he said.
Real Estate News
MAY 20, 2024
Minnesota’s largest multiple listing service embraces its “broker-centric, tech-forward focus” as it works through rules changes and pursues collaboration.
Residential Realty Today brings together the best content for real estate professionals from the widest variety of industry thought leaders.
Inman
MAY 20, 2024
AI is reshaping the landscape of property transactions, revolutionizing traditional processes and boosting overall efficiency.
Housing Wire
MAY 20, 2024
The proportion of newly built homes for sale in the U.S. during the first quarter of 2024 remained steady compared to last year, fueled by a continued shortage of existing-home supply. According to a Redfin report released Monday, newly built homes accounted for 33.4% of single-family homes for sale in the first quarter, virtually unchanged from a year earlier and down slightly from a peak of 34.5% two years ago.
Inman
MAY 20, 2024
The Chinese government has pledged support for state-owned entities that will allow them to buy unsold apartments.
Housing Wire
MAY 20, 2024
The most notable trend in U.S. housing data recently is that price reductions are on the way up. There are more homes sitting on the market that didn’t get offers at their original list price and have had to reduce their prices than in any recent May. What does this leading indicator data tell us about home prices for the rest of the year? Well, I have revised down my estimates for national home-price appreciation for 2024.
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Inman
MAY 20, 2024
Homebuyers need professional guidance more than ever as they complete one of the most important transactions of their lifetime.
Housing Wire
MAY 20, 2024
The U.S. Department of Housing and Urban Development (HUD) announced on Monday morning an extension to Ginnie Mae’s digital collateral program and an increase to fees servicers can charge on assumable mortgages , aiming to bring more efficiency and affordability to the housing market. “The past four years have placed a series of stressors on the market, which have been exacerbated by long-standing gaps in housing supply,” Adrianne Todman, HUD’s acting secretary, said on
Inman
MAY 20, 2024
The Inman Intel Index goes beyond sentiment and trends by tapping into the real estate industry's most engaged community. Add your voice to real estate's most ambitious monthly survey today.
Housing Wire
MAY 20, 2024
The National Association of Realtors (NAR) proposed settlement of litigation, recently given preliminary approval by the Court, has raised questions about whether buyers with limited resources, especially first-time home buyers , can afford closing costs. The settlement will require buyers to sign written buyer agreements that clearly disclose how much and by whom their broker are compensated.
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Inman
MAY 20, 2024
Miami Association of Realtors is the most recent MLS to link up with Sidekick, an AI productivity solution spun out of Avenue 8, an independent brokerage based in California.
Housing Wire
MAY 20, 2024
The U.S. Department of Housing and Urban Development (HUD) on Monday published a new version of its Single Family Housing Handbook 4000.1, which includes numerous updates to its guidance for the Home Equity Conversion Mortgage (HECM) program overseen by the Federal Housing Administration (FHA). “Today’s update clarifies instructions, adds new guidance, and incorporates previously published Mortgagee Letters (ML) in Sections I, II, III, and IV as well as Appendix 7.0,” HUD explained in an informa
Inman
MAY 20, 2024
NAR's legal team, president and chief economist defended the group's cooperative compensation rule and used journalists as a scapegoat repeatedly during midyear panels earlier this month.
Housing Wire
MAY 20, 2024
Proof , the remote online notarization (RON) platform formerly known as Notarize , has welcomed Pennsylvania notaries into its Notarize Network, the company announced earlier this month. Previously, Pennsylvania’s notaries could access Proof’s platform via its in-house notary capabilities for enterprises and notary-sourced transactions. With this expansion, Pennsylvania notaries now join their counterparts from Florida, Nevada, Texas and Virginia in offering on-demand notarial services.
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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.
Inman
MAY 20, 2024
Homeowners with at least a 5 percent mortgage rate are three times more likely to enter the market soon as those with a sub-3.5 percent rate, according to results from Inman-Dig Insights' latest consumer poll.
Housing Wire
MAY 20, 2024
Rohit Chopra, director of the Consumer Financial Protection Bureau (CFPB), is aware that some loan officers are taking creative — and, as detailed in a recent HousingWire investigation, often illegal — approaches to winning business. And he would be willing to reexamine the decade-old rule that prohibits LOs from misclassifying lead sources to lower their own compensation, although it hasn‘t been a priority as mortgage servicing is higher on the agency‘s to-do list.
Inman
MAY 20, 2024
Investors Christian Gore and Itay Simchi shared 10 U.S. cities where they would never invest in real estate.
Housing Wire
MAY 20, 2024
Buying into homeownership is already challenging enough for many Americans, but keeping — and maintaining — a home can come with serious challenges as a person gets older. This may lead an older homeowner to consider a product like a reverse mortgage, but potential borrowers should be aware of the product’s details and the informational resources they can access.
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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.
Inman
MAY 20, 2024
Days after announcing the onboarding of UtahReealEstate.com, CEO and co-founder Michael Lucarelli’s rental industry software company is now available to members of REcolorado, the Centennial State’s largest.
Housing Wire
MAY 20, 2024
A recently released report from the Financial Stability Oversight Council (FSOC) that identifies vulnerabilities at nonbank mortgage servicers and makes some recommendations to avoid systemic risk is a ”tall order” for state regulators but isn’t only a ”wishful list,” according to Jason Cave, senior consultant at Patomak Global Partners. Cave spent nearly three decades in executive roles at the Federal Deposit Insurance Corp.
Inman
MAY 20, 2024
Understanding the difference between steering and providing thoughtful and meaningful advice and guidance to clients is essential for navigating the future of real estate, mega team leader Carl Medford writes.
Housing Wire
MAY 20, 2024
Mortgage capital markets tech firm Polly announced on Monday its API integration with cloud banking provider nCino to enhance the digital mortgage process for lenders. This integration combines Polly’s advanced pricing engine with nCino’s Mortgage Suite point-of-sale (POS) solution, offering lenders and originators increased flexibility and new opportunities to strengthen referral relationships.
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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.
Inman
MAY 20, 2024
A growing network of partners including CoreLogic and Byte Software are accessing Polly's capital markets platform and product and pricing engine through open APIs.
Housing Wire
MAY 20, 2024
Rental software provider RentSpree announced on Monday a new partnership with UtahRealEstate.com (URE), a multiple listing service (MLS) serving approximately 20,000 real estate professionals across Utah. Additionally, RentSpree CEO Michael Lucarelli revealed in a LinkedIn post a new collaboration with REcolorado , the largest MLS in Colorado that boasts more than 26,000 brokers, agents and real estate professionals.
Inman
MAY 20, 2024
The rap superstar reportedly purchased the Brentwood estate, which had not been on the market, from former Fox News Corp. Chief Legal and Policy Officer Viet Dinh and his wife, Jennifer Ashworth Dinh.
RIS Media
MAY 20, 2024
In a real estate transaction, a Use and Occupancy Agreement (U&O) presents a unique solution for buyers and sellers under certain circumstances. This agreement allows a buyer to use and occupy the property before closing the sale. Conversely, it can enable a seller to continue occupying the property post-sale. I will examine the benefits and… The post Benefits and Risks of Use and Occupancy Agreements appeared first on RISMedia.
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