Can real estate brokerages survive without mortgage?

28-09-2021

Real estate brokerages can survive, but only if they seriously invest in mortgage. So said members of a panel Tuesday on the evolution of the real estate brokerage during HousingWire Annual in Frisco, Texas. Today the value of a single mortgage origination is that of 10 real estate sales, said Chris Kelly...

Read more

Loan origination complaints spike during pandemic

28-09-2021

Loan origination-related consumer complaints rose significantly over the first 18 months of the COVID-19 pandemic, according to a Consumer Financial Protection Bureau’s (CFPB) report published last week. The bureau’s research brief, which analyzed the relationship between U.S. Census characteristics and the share of consumers complaining about each stage of the credit...

Read more

Are consistently error-free closings within reach for lenders?

28-09-2021

Largely driven by record-low mortgage rates, lending volume surpassed everyone’s expectations in the past year. But as lenders scrambled to keep up with demand, closing errors naturally crept in.  In the wake of this unparalleled volume, companies across the housing industry have been working to increase the efficiencies of the entire...

Read more

US home prices hit record level (again)

28-09-2021

July marked the fourth consecutive month in which the growth rate of home prices set a record, according to the latest S&P CoreLogic Case-Shiller National Home Price Index Report released on Tuesday. The index showed a 19.7% annual gain for the year ending in July 2021, up from 18.7% a month...

Read more

Compass to acquire yet another title insurance company

28-09-2021

New York-based real estate brokerage Compass announced Tuesday that it has signed an agreement to acquire CommonGround Abstract, LLC., a Philadelphia-based title insurance company. The agreement marks Compass’s fifth title insurance company acquisition this year and third this month. Less than a week ago the brokerage announced plans to acquire First...

Read more

Tim Mayopoulos on the limits of GSE innovation

28-09-2021

Investing in technology is not the be-all end-all when it comes to efficiency in mortgage origination. Lenders who adopt technology but don’t enforce discipline within their organization won’t see the efficiency savings technology promises. That’s according to Tim Mayopoulos, president of publicly traded Blend, which provides digital tools for some...

Read more

Fannie Mae official questions purpose of AMCs

28-09-2021

A Fannie Mae official Monday questioned the role of appraisal management companies, or “AMCs,” in evaluating houses. “We have 10 times more AMCs per capita than New Zealand and Australia,” said Lyle Radke, director of collateral policy at the powerful government-sponsored enterprise. “Why is that?” Perhaps AMCs can streamline the appraisal process...

Read more

Higher flood insurance prices could be a game-changer

27-09-2021

A new pricing methodology intended to promote fairness and solvency to the federal National Flood Insurance program will increase costs for most families nationwide, and members of both political parties are mobilizing to stop it. The Federal Emergency Management Agency (FEMA) is implementing its so-called Risk Rating 2.0 policy on Oct...

Read more

Racial equity in the mortgage biz goes beyond “fancy galas”

27-09-2021

If last year gave rise to a slew of announcements of initiatives to address issues of racial equity, now is the time to give force to those promises. Laura Brandao, president and partner of American Financial Resources, Tai Christensen, director of government affairs and chief diversity and inclusion officer at CBC...

Read more

Howard Hanna Real Estate Services founder dies at 101

27-09-2021

Howard Hanna Jr., the founder of the eponymous Howard Hanna Real Estate Services, died on Saturday, according to an announcement made on the brokerage’s Facebook page. “It is with our deepest sadness that we share the news of our founder, Mr. Hanna’s passing earlier today, September 25, 2021,” the post read...

Read more

Forbearance rate finally hits pre-pandemic levels

27-09-2021

Servicers’ forbearance portfolio volume dropped last week to a level below 3.00% for the first time in 18 months. The total number of loans in forbearance decreased by four basis points to 2.96% as of Sept. 19, according to the Mortgage Bankers Association (MBA).       The most notable decline was in the portfolio loans and private-label...

Read more

How LOs can capitalize on social media channels while remaining compliant

27-09-2021

Exponentially increase your loan officers’ origination potential without incurring additional expense? Sounds too good to be true, doesn’t it? However, today more than ever before, this ambitious goal is within reach thanks to the marketing power of the internet via social media.  The single biggest challenge to success with social media...

Read more

Affordable housing vacancy drops, and rents are climbing

27-09-2021

The vacancy rate for low-income tax credit-supported affordable housing dropped to 2.5% nationwide in the second quarter of 2021, a decrease of .01% from the first quarter, according to Moody’s Analytics REIS, New York. Since Moody’s Analytics REIS has tracked it, the sector’s vacancy rate has stayed between 2% and 2.6%...

Read more

advertisement

National Weather

Click on map for forecast

advertisement