Mon.May 20, 2024

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Fraud, forgery claims are costliest expenses for title insurers

Housing Wire

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.

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A third of homes for sale are new construction

Real Estate News

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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PennyMac announces proposed private offering of $650M in senior notes

Housing Wire

California -based multichannel lender and servicer PennyMac Financial Services announced on Monday a proposed private offering of a $650 million aggregate principal amount of senior notes that the company says it will pay back with interest by 2030. The notes will “be fully and unconditionally guaranteed on an unsecured senior basis” by the company’s existing businesses, except for certain specific outliers it does not specify.

Principal 386
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A closer look at NorthstarMLS’s path through a tricky year

Real Estate News

Minnesota’s largest multiple listing service embraces its “broker-centric, tech-forward focus” as it works through rules changes and pursues collaboration.

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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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HUD to double servicer fee on assumable mortgages

Housing Wire

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

Mortgages 354
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What’s Next for Home Prices and Mortgage Rates?

Keeping Current Matters

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.

Mortgages 258

More Trending

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Crypto and AI are on the rise. Here’s how they are coming to real estate

Inman

AI is reshaping the landscape of property transactions, revolutionizing traditional processes and boosting overall efficiency.

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Proof welcomes Pennsylvania notaries into its Notarize Network

Housing Wire

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.

Agents 337
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Sidekick’s AI to assist Miami agents in latest MLS deal

Inman

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.

MLS 147
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Former FHFA exec Jason Cave says FSOC report is a ‘tall order’ for states

Housing Wire

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.

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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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At NAR midyear, ‘the media’ was cast as the villain — repeatedly

Inman

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.

MLS 146
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Opinion: Navigating buyer agent compensation

Housing Wire

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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4 ways to showcase your value to homebuyers

Inman

Homebuyers need professional guidance more than ever as they complete one of the most important transactions of their lifetime.

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Polly integrates with nCino’s Mortgage Suite

Housing Wire

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.

Mortgages 328
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3 Real Estate Office Hacks to Help Kickstart the Busy Season

Ready to better your Back Office? Dive into the secrets to a powerhouse back office with Brokermint expert, Jessica Souza. In this free download, she shares her 3 transformative hacks designed to clean house, get everyone on the same page, and set yourself up for success. From optimizing agent profiles to ensuring flawless transactions and boosting agent retention, these strategies are your ticket to a seamless operation.

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Share your expertise: Take the Inman Intel Index survey for May

Inman

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.

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Chopra says he is ‘open to’ reviewing the LO comp rule

Housing Wire

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.

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RentSpree adds REcolorado, second MLS deal in days

Inman

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.

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Benefits and Risks of Use and Occupancy Agreements

RIS Media

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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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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Guidance or steering? Red flags of giving professional advice

Inman

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.

Brokerage 132
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I’m in the Final Stretch of Selling My Brooklyn Condo as a 1031 Exchange—Here’s How the Fifth Month Went

Bigger Pockets

In the next few days, our Brooklyn, New York condo will hit the market, and we will begin the first half of our long-planned, much-anticipated, greatly agonized-over 1031 exchange.

Marketing 116
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Inside the lock-in effect: Cheap mortgages weigh on US consumers

Inman

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.

Mortgages 126
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Seeing Greene: Flood Zones, New Builds, & Does Mexico’s Cash Flow Beat the US?

Bigger Pockets

Have you ever thought about buying rental properties abroad? It might surprise you, but investing overseas could bring in much more cash flow and appreciation than you thought possible.

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Maximizing Your Online Presence: Tips for Real Estate Agents on Social Media

Speaker: Sarah Santa Ana, Real Estate Coach, Move4Free Realty

Networking is one of the crucial elements in every real estate organization's success. Both agents and real estate companies need to maintain robust networking links. This is why social media is essential for any real estate professional! Social media enables you to stay in touch with your present clients, maintain connections with your past clients, and engage potential customers and investors.

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Amidst feud with Drake, Kendrick Lamar drops $40M on LA pad

Inman

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.

Marketing 123
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How Much Could a New Real Estate Tax Hurt Investors In Massachusetts—And Will It Even Work?

Bigger Pockets

Massachusetts is the latest state considering a transfer tax in a bid to increase funding for affordable housing, but the controversial fee doesn’t bode well for the Bay State’s already pricey real estate sector.

Investor 116
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Polly, nCino integration could help lenders build referral business

Inman

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.

Marketing 126
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Custom Home Building Slowdown

Eye on Housing

NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates a slowing market for custom home building after a recent gain in market share. The subsector’s greater reliance on cash buyers has not shielded it from recent market softening, which in turn is putting downward pressure on home builder sentiment.

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Rise of The Apps: Building Your Dream Tech Stack For Real Estate Success

Speaker: Trey Willard, Realtor/Team Leader at Keller Williams Realty, Inc.

In order to create continued success in today’s real estate market, realtors need to utilize an arsenal of technology that will increase their efficiency and presence on social media. Using technology to manage your prospects and tap into their needs through websites, social media, and other channels is critical for real estate success in 2022 and beyond.

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10 cities where these experienced property investors won’t buy

Inman

Investors Christian Gore and Itay Simchi shared 10 U.S. cities where they would never invest in real estate.

Investor 152
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The Nation's Most Popular and Fastest Growing Metropolitan Areas in 2023

NAR: Economic Outlook

The Most Popular and Fastest Growing Metro Areas in '23 An analysis of data from July 2022 and July 2023 showed that the South maintained its position as the nation's fastest-growing region.

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China pledges $42M to aid struggling property sector

Inman

The Chinese government has pledged support for state-owned entities that will allow them to buy unsold apartments.

Marketing 139
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Half of New Condo Development in Southern Florida is Geared Toward Vacation Rentals—Should You Join the Gold Rush?

Bigger Pockets

According to a new report from ISG World, first cited in The Real Deal, over 50% of South Florida’s new condo developments are tailored toward short-term rentals.

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5 Data Proven Ways Agents Can Do 18% More Business

Curious as to how you could do 18% more business? How about 14 more transaction sides per year? Check out this infographic with data from a RealTrends study to learn more.