Real estate services and technology firm SitusAMC just acquired the parent company of compliance technology provider ComplianceEase, the latest in a series of mergers and acquisitions that are shaking up the mortgage tech space in the last year. ComplianceEase will
Is mortgage credit really too tight since COVID-19?
Since the onset of COVID-19, the Twittersphere has been ripe with rumor and speculation that the financial requirements to qualify for a mortgage have become increasingly more rigorous since the crisis and this would put a damper on the housing
If Biden wins, what happens to Fannie and Freddie?
If former Vice President Joe Biden wins the White House, it will derail the Trump Administration’s plans to release Fannie Mae and Freddie Mac from conservatorship. What, then, would happen to the world’s two largest mortgage financiers? Most likely, it
Part 1: A third-party opinion on how to build your broker tech stack
HousingStack is a real estate technology landscape that provides a dynamic visual that reflects the rapid changes in the sector. The HousingStack is exclusively for HW+ members. To join the HW+ community, go here. I’ve been asked to put together some recommendations on what
Mortgage modifications are on the rise, MBA says
Forbearance exits measuring how many borrowers cancelled agreements to suspend mortgage payments rose to a one-month high in September’s first week, led by a surge in loan modifications, according to a report from the Mortgage Bankers Association on Monday. Total
This missile silo-turned luxury bunker might be just what 2020 needs
About a year ago, RE/MAX agent Ken Flaspohler took on what he said is the most exciting luxury listing he’s ever had. Hidden somewhere in rural Kansas and nestled 15 stories below the ground, the listing consists of condos constructed
Black Homebuyers Face Steeper Price Increases, Sharper Declines in Homes for Sale than White Homebuyers During the Pandemic
Black homebuyers, who are less likely than their white counterparts to have jobs that can be done remotely, face higher home prices as white homebuyers move to more affordable suburbs Home prices in neighborhoods where Black people bought homes in
NAR: 31% of Realtors say they feel unsafe at open houses
Real estate agent safety has been a concern for years, as the job requires showing empty homes or homes occupied by others, and meeting new people, often alone. As September is Realtor Safety Month, the National Association of Realtors has
People movers: SimpleNexus, Roostify, First American, Tom Ferry International
Mortgage platform SimpleNexus has tapped Cathleen Schreiner Gates to become its next company president. Schreiner Gates, a technology veteran with more than three decades of experience, joined SimpleNexus’ board of directors in April 2020. Between 2015 and 2019, she served
Mortgage forbearances drop 22% from May peak
There are 3.7 million U.S. homeowners with mortgages in forbearance this week, down 22% from May’s peak of 4.7 million, Black Knight said in a report on Friday. The total weekly drop was 66,000 loans, a slower pace than the
Ellie Mae President and CEO Jonathan Corr retires
Exactly one week after Ellie Mae was officially acquired by Intercontinental Exchange, Ellie Mae president and CEO Jonathan Corr announced his retirement on Friday, and announced that the company’s chief operating officer, Joe Tyrrell, would succeed him as president of
iBuyer Activity Ground to a Halt in the Second Quarter, With Market Share Plummeting to 0.1%
iBuyers purchased the fewest homes in more than three years last quarter as the coronavirus pandemic put business on pause. But the market is now making a comeback, with iBuyers seeing a rebound in demand—and even bidding wars—from homeowners who
Home Prices Up 13%, Biggest Increase Since 2013
Buyers seem undeterred, as pending sales soar 28% and a 9% increase in new listings brings little relief. Key housing market takeaways for 434 U.S. metro areas during the 4-week period ending September 6: Median home sale price increased 13%
5 Cool Lofts for Sale Right Now
Is there anything cooler than living in a loft? Sure, we love townhouses and condos, but ‘loft’ has a certain ring to it. A loft generally has high ceilings, an open floor plan, and large windows topped off with an
More Than Half of Redfin Offers Faced Bidding Wars in August as the Housing Market’s Competitive Streak Continues
Nearly 55% of Redfin offers for homes faced bidding wars in August. Competition is still fierce in coastal California, and the market is also hot in more affordable places like Sacramento and Phoenix. Nationwide, 54.5% of Redfin offers on homes
It hasn’t been this hard to get a mortgage in six years
Mortgage credit in August was the tightest in more than six years as a weak economy prompted lenders to tighten standards, the Mortgage Bankers Association said in a report on Thursday. The group’s Mortgage Credit Availability Index fell 4.7% to
Opendoor could make public debut via reverse merger at $5B valuation
Opendoor, the largest instant home buying platform in the country, could debut on the public market at a $5 billion valuation, according to a new report. Chamath Palihapitiya’s Social Capital is in talks to use one of his blank-check companies,
Housing Market Sees Biggest Uptick in New Listings in Almost 2 Years as Pending Sales Surge 21%
Record-low inventory of homes for sale has “created a complete storm of insanity,” in small, affordable markets like Boise, which is seeing an influx of buyers leaving the West Coast. Key housing market takeaways for 434 U.S. metro areas during
How many homes did iBuyers purchase in Q2?
The second quarter was a tough one on iBuyers, as only 0.1% of the homes sold across 418 metros — only 880 homes total — were purchased by top iBuyers Redfin, Zillow, Opendoor and Offerpad, according to a report by
The refinancing boom is just getting started
Even with refinancings driving a record $1.1 trillion in originations in the second quarter and testing the limits of lenders’ capacity, LOs, mortgage executives and economists say all the conditions are right for a string of even bigger quarters. According
Home Maintenance Tips: Keep Your Home in Tip Top Condition
Buying a home is one of the biggest decisions and purchases a person may make. Not only does it come with the financial responsibility of paying a mortgage, but also making sure to keep up on your home maintenance. If
Zillow and Redfin among companies vowing to add Black board members
Zillow and Redfin are among the companies that are signing on to The Board Challenge, a pledge to add a Black member to their board of directors within one year. Rolled out this week, the Board Challenge is part of
America’s Housing Shortage Is Intensifying During the Pandemic—Especially in Relatively Affordable Places Like San Antonio and Baltimore
Meanwhile, San Francisco has experienced a flood of homes for sale as Americans flee dense, expensive cities. America’s housing shortage was intense before the coronavirus hit, with the number of homes for sale slumping 7% year over year in February.
Clarifire’s Jane Mason: Tech opportunities spring up from mass urban exodus
As the mortgage industry continues to navigate record-low interest rates in the midst of a pandemic, many companies are seeing tech opportunities, and rising up to modernize outdated processes in order to keep up with demand. “For [mortgage servicers and