Housing Wire
FEBRUARY 22, 2024
Government-sponsored enterprise (GSE) Fannie Mae announced on Thursday the appointment of Peter Akwaboah as executive vice president and chief operating officer, effective May 20, 2024. Akwaboah, who is currently serving as COO for technology and global head of innovation at Morgan Stanley , has nearly 30 years of experience in the financial services industry.
Keeping Current Matters
FEBRUARY 22, 2024
Over the past few months, experts have revised their 2024 home price forecasts based on the latest data and market signals, and they’re even more confident prices will rise, not fall.
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Housing Wire
FEBRUARY 22, 2024
Mortgage rates continued their ascension toward 7% this week, raising doubts about the approaching spring homebuying season. The 30-year fixed-rate mortgage averaged 6.90% as of Feb. 22, an increase from last week ’s figure of 6.77%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday. Meanwhile, the 15-year fixed rate averaged 6.29% this week, up from 6.12% during the prior week.
Real Estate News
FEBRUARY 22, 2024
Millennial and Gen Z buyers have a higher tolerance for elevated mortgage rates, and many believe it’s a good time to buy, a Realtor.com survey found.
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Housing Wire
FEBRUARY 22, 2024
Rocket Companies , the parent of Rocket Mortgage , was in the red again in 2023 as it reported a GAAP net loss of $390 million. The company reduced its cost structure by nearly 20% in 2023 following a nearly 25% reduction in 2022, but lower origination volume failed to keep the company profitable as the industry is still going through a challenging period for mortgage lending.
Real Estate News
FEBRUARY 22, 2024
The company said its "decision to offboard a significant number of unproductive agents" in Q4 was offset by "excellent" retention of strong producers.
Residential Realty Today brings together the best content for real estate professionals from the widest variety of industry thought leaders.
Real Estate News
FEBRUARY 22, 2024
Amy Lessinger, former SVP of Region Development, takes over as president, while two other execs receive promotions.
Housing Wire
FEBRUARY 22, 2024
Existing-home sales picked up in January as buyers took advantage of the lowest mortgage rates seen in several months. Existing-home sales rose 3.1% from December to a seasonally adjusted annual rate of 4 million in January, according to a report from the National Association of Realtors (NAR). Year over year, sales dipped 1.7%, down from 4.07 million in January 2023.
Real Estate News
FEBRUARY 22, 2024
Sales rose by more than 3% in January, suggesting a turnaround in 2024, but mortgage rates still hold the key to the future of the market.
Housing Wire
FEBRUARY 22, 2024
When the Department of Justice (DOJ) revealed last week the changes it would like to see in how real estate agents and brokers are compensated through its statement of interest filed in the MLS Property Information Network commission lawsuit , few in the real estate industry were surprised by the agency’s desire to decouple commissions. In early September 2023, Steve Murray , the co-founder of RealTrends Consulting , told HousingWire that he believed this was a possible outcome.
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Real Estate News
FEBRUARY 22, 2024
Zillow's Listing Showcase expands; HomeStack joins MoxiWorks network; Bright MLS adds SkySlope; Luxury Presence launches AI lead tool; Rechat adds partners.
Housing Wire
FEBRUARY 22, 2024
Despite slower housing market conditions , Big Four title firms Stewart , First American and Fidelity National Financial all managed to earn profits in 2023. Stewart, which reported its earnings earlier in February, posted a revenue of $2.26 billion in 2023 and a net income of $30.4 million. Both figures were down significantly from 2022 when it recorded $3.07 billion in revenue and net income of $162.3 million.
Real Estate News
FEBRUARY 22, 2024
Inventory is building as buyers stay on the sidelines, but there’s still hope for more activity as the spring shopping season gets underway.
Housing Wire
FEBRUARY 22, 2024
A suspected fraudster nearly brought financial ruin to an elderly resident of London, Ontario in Canada , but an area reverse mortgage professional’s quick thinking is credited with leading to the suspect’s arrest, according to a news release from the London Police Service. Stemming from suspected fraudulent activity beginning in the summer of 2021, 28-year old Austin Acheson was arrested earlier this month for suspected fraud.
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Inman
FEBRUARY 22, 2024
RE/MAX announced it was making changes to its executive team after revenue fell for a sixth consecutive quarter to end 2023. Amy Lessinger will succeed Bailey as president.
Housing Wire
FEBRUARY 22, 2024
Late last year, the U.S. Department of Housing and Urban Development (HUD) Office of the Inspector General (OIG) announced the launch of an inquiry into Ginnie Mae ’s monitoring of now-bankrupt lender Reverse Mortgage Funding (RMF), and its extinguishment from the Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program. While the office has not yet issued any formal updates on the investigation, HUD Inspector General Rae Oliver Davis addressed the matter during a recent interview
Inman
FEBRUARY 22, 2024
Mortgage giant reports positive adjusted earnings for the third consecutive quarter, "despite some of the most difficult industry conditions in three decades," CEO Varun Krishna says.
Housing Wire
FEBRUARY 22, 2024
Demand for existing homes — including REO assets — outpaces the available supply. Growing and changing is vital to expand your services and business growth so that you can tailor services in REO. Tiffany Fletcher, senior vice president of operations support and operational risk for VRM Mortgage Services , offers strategies for doing just that, showing how VRM is growing and changing during these unique times.
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.
Inman
FEBRUARY 22, 2024
The new franchise, led by owners Nicole and Doug Freer, will service clients in Houston's suburbs. The couple's team was No. 1 in Texas based on 2022 sales volume and transaction sides.
Housing Wire
FEBRUARY 22, 2024
As demand for homes continues to outpace new listings, CrossCountry Mortgage (CCM) is introducing a new cash-offer product, the company announced Thursday. The Cleveland -based retail mortgage lender unveiled CCM CashPlus to help buyers gain an edge in the bidding process by turning preapprovals into cash offers. CashPlus has no appraisal or financing contingencies.
Inman
FEBRUARY 22, 2024
Learn why, for this Arizona luxury broker, real estate is a family affair, and find out how mentorship has helped her grow her impact.
Housing Wire
FEBRUARY 22, 2024
Nick Bailey is leaving RE/MAX. The firm announced the departure of its CEO and president on Thursday, along with its Q4 2023 and full year earnings. No reason was given for the departure. To fill Bailey’s vacant position, RE/MAX has promoted Amy Lessinger to president. Abby Lee and Susie Winders also received promotions, with Lee being named executive vice president of marketing, communications and events, while Winders is the company’s new executive vice president of general counsel.
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.
Inman
FEBRUARY 22, 2024
The company best-known for its virtual brokerage brought in $983 million in revenue between October and December, even as a difficult market took a toll, according to Q4 earnings released Thursday.
Housing Wire
FEBRUARY 22, 2024
Delinquencies improved in January, highlighting the resiliency of U.S. mortgage holders. The national delinquency rate fell to 3.38% in January, down from 3.57% in December, according to the Intercontinental Exchange (ICE) First Look Mortgage Performance report. The rate remained flat on a year-over-year basis and was the lowest recorded since October.
Inman
FEBRUARY 22, 2024
New Inman contributor Lindsey Harn writes that accessory dwelling units offer a wide variety of benefits for all kinds of renters, from college students to elderly family members.
Housing Wire
FEBRUARY 22, 2024
Fintech FundingShield will provide comprehensive title fraud solutions via an advanced programming interface (API) integration to CoreLogic ‘s digital mortgage platform. The partnership comes amid wire and title fraud risk reaching an all-time high in fourth-quarter 2023. About 52% of transactions had issues that led to a risk of wire and title fraud, according to FundingShield.
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RIS Media
FEBRUARY 22, 2024
Home buyouts, especially in the throes of a divorce or during the challenging process of family inheritance, are laden with more than just financial considerations; they carry a heavy emotional weight. Often seen as a haven and a repository of memories, the home becomes a central figure in these life-altering events. Recognizing and addressing the… The post Emotional Considerations and Conflict Resolution In a Home Buyout appeared first on RISMedia.
Housing Wire
FEBRUARY 22, 2024
Arizona Regional MLS and Wisconsin -based Metro MLS are looking to have the antitrust lawsuit filed against them by Zillow Group and ShowingTime dismissed. Filed in late December 2023, the lawsuit alleges that ARMLS, Metro MLS and the parent company of showing platform Aligned Showings, MLS Aligned, are “unlawfully attempting to monopolize the market for real estate showing management services in the geographic regions they control and from unlawfully conspiring to exclude or severely limit Show
Inman
FEBRUARY 22, 2024
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Housing Wire
FEBRUARY 22, 2024
HousingWire Editor in Chief Sarah Wheeler sat down with Jason Cave , former deputy director at the FHFA where he ran their FinTech Office, to talk about where mortgage tech is falling short, and what the government should do to help. Sarah Wheeler: What led you to leave FHFA for the private sector? Jason Cave: I spent 30 years in the government — 27 at FDIC and three at FHFA.
Speaker: Mary Maloney, Founder & Team Leader at Hometown Realty
The sales cycle in real estate is frequently measured at 3+ months. During this time, real estate agents frequently lose contact with clients and miss out on opportunities because they fail to follow up and provide value to the client. Top real estate agents are distinguished from developing agents by their ability to convert organic connections into sales opportunities.
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