Homeowners 62 and older saw their collective home equity levels drop in the fourth quarter of 2023 by roughly $119 billion to $12.84 trillion, the third quarterly fall in the last year. This is according to the Reverse Mortgage Market
Opinion: Why aren’t more commercial brokerages seeking affiliated arrangements?
Let’s face it: joint ventures (JVs) and affiliated business arrangements (ABAs) are all the rage in the residential real estate space right now. And why not? In times of depressed revenue, it makes sense to seek any and all reasonable
Senior-held home equity falls to $12.84 trillion in Q4 2023
Homeowners 62 and older saw their collective home equity levels drop in the fourth quarter of 2023 by roughly $119 billion to $12.84 trillion, the third quarterly fall in the last year. This is according to the Reverse Mortgage Market
Is your real estate database a dumpster fire or lead gen machine?
Study after study has shown that nurturing your database should yield you at least a 10% return. This means that when you have 100 people in your database, and they’re hearing from you regularly with something of value, at least
Opinion: Why aren’t more commercial brokerages seeking affiliated arrangements?
Let’s face it: joint ventures (JVs) and affiliated business arrangements (ABAs) are all the rage in the residential real estate space right now. And why not? In times of depressed revenue, it makes sense to seek any and all reasonable
Average IMB lost $2,109 per loan in Q4 2023
Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported an average net loss of $2,109 on each loan they originated in the fourth quarter of 2023, according to the Mortgage Bankers Association (MBA). The loss is almost double
Is your real estate database a dumpster fire or lead gen machine?
Study after study has shown that nurturing your database should yield you at least a 10% return. This means that when you have 100 people in your database, and they’re hearing from you regularly with something of value, at least
Freddie Mac names president Michael Hutchins interim CEO
Freddie Mac on Friday announced that its president Michael Hutchins has been appointed interim CEO, effective March 16, but the company continues its search for a permanent appointment. He will replace Michael DeVito, who is retiring after three years in the job.
Average IMB lost $2,109 per loan in Q4 2023
Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported an average net loss of $2,109 on each loan they originated in the fourth quarter of 2023, according to the Mortgage Bankers Association (MBA). The loss is almost double
ICE Mortgage Technology’s Sara Holtz joins Optimal Blue as CMO
Optimal Blue has brought on Sara Holtz, former vice president of demand marketing and communications at ICE Mortgage Technology, as chief marketing officer (CMO). Holtz will drive unified marketing and communications strategies to advance Optimal Blue’s business priorities and further
Freddie Mac names president Michael Hutchins interim CEO
Freddie Mac on Friday announced that its president Michael Hutchins has been appointed interim CEO, effective March 16, but the company continues its search for a permanent appointment. He will replace Michael DeVito, who is retiring after three years in the job.
NAR settles commission lawsuits for $418 million
The National Association of Realtors has agreed to pay $418 million in damages to settle the real estate commission lawsuits. The trade group has also agreed to abolish the “Participation Rule” that required sell-side agents to make an offer of
Blend narrows loss in 2023, projects confidence in achieving profitability this year
California mortgage tech firm Blend Labs narrowed its loss in 2023 by expanding its consumer banking footprint and growing its mortgage consumer base. The San Francisco-based company reported a non-GAAP net loss of $101.3 million in 2023, down from a
Tight inventory and frustrated buyers challenge agents in Virginia
No matter where you are in the state, real estate agents in Virginia are facing low inventory conditions that are creating frustrating scenarios for their buyers. “I think people are getting used to the interest rates where they are now,
Rising home insurance costs are adding pressure for buyers: Insurify
The dream of homeownership is becoming increasingly elusive for many Americans as both home prices and insurance premiums are on the rise. Over the past decade, home prices have nearly doubled, according to the S&P CoreLogic Case-Shiller national index. Homeowners
Embrace Home Loans names new president
Independent mortgage lender Embrace Home Loans has promoted Ryan “Buddy” Hardiman to the position of president, the company announced on Wednesday. Before the promotion, Hardiman served as the company’s senior vice president of retail and direct sales for more than
Housing coalition publishes recommendations for GSEs’ ‘Duty to Serve’ plans
The Underserved Mortgage Markets Coalition (UMMC), a coalition of 32 housing groups initially convened by the Lincoln Institute of Land Policy, published a report on Wednesday that recommended actions for the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. Described
Fannie Mae clarifies ARM interest rate, ups cash-out refi term on manufactured homes
The Fannie Mae February Selling Guide has a series of updates, including the expansion of value acceptance and property data appraisal waivers to condominiums, cash-out refinance allowances for manufactured homes, and updates to credit references and certain definitions. Following up
Annual home price gains may have reached cycle peak: CoreLogic
U.S. home prices posted their highest yearly rate of appreciation since January 2023, reaching 5.5% year over year in December, according to CoreLogic’s Home Price Index. Home prices declined by 0.1% compared to November 2023. Price appreciation slowed greatly over
Thomas Yoon to steer Lead+ Wholesale Lending
California-based lender Summit Funding has appointed Thomas Yoon as the head of subsidiary Lead+ Wholesale Lending, the company announced on Wednesday. In his new position, EQA Mortgage’s former president will strive to bring unmatched support to mortgage brokers who sell
Rithm Capital delivers $524M profit in 2023
New York-based Rithm Capital posted a profit in 2023, a year marked by several acquisitions that turned the company into a leading global asset manager. In the mortgage space, the parent of multichannel lender Newrez earned most of its profits from the servicing
‘La Dune’ in the Hamptons fetches record $88M at live Sotheby’s art auction
The late January auction of iconic Hamptons estate ‘La Dune’ marked the first time a property was included in an art auction at Sotheby’s. The $88.48 million winning bid on ‘La Dune’ also made the estate the most valuable property
DataDigest: Where for-sale inventory went and when it’s coming back
It’s no secret that 2023 was a difficult year to buy a home. With mortgage rates briefly topping 8% and home prices breaking records throughout the year, many would-be sellers simply decided not to bother listing their homes, exacerbating already
Consumer sentiment toward housing reaches its highest level in nearly two years
Consumer sentiment toward housing reached its highest level since March 2022, fueled by increased confidence in job security and a higher share of people who expect mortgage rates to decrease. Fannie Mae’s home purchase sentiment index (HPSI) — which tracks