News

Diary of a Pandemic, Part 3: The Furlough (And the Un-Furlough)

This is the third and final part of an account I wrote as Redfin’s CEO about what it has been like to run a publicly traded company hit hard by the pandemic. This part is about how a furlough and

Home-Buying Demand Passes Pre-Coronavirus Levels; Inventory Down 24%

Just the Facts: Four Key Housing Market Takeaways for This Week Home-buying demand has come roaring back, now 5.5% higher than it was pre-pandemic New listings have increased every week for the past four weeks, but can’t keep up with

Refi boom fuels hiring by mortgage firms during the downturn

At a time when unemployment levels are rising to heights not seen since the Great Depression, the mortgage industry is among the relatively few sectors outside of the frontline workforce that is actively seeking out new employees. “We’re hiring and

Fannie Mae, Freddie Mac will allow borrowers who took forbearance to refinance their mortgage

The most recent data shows that there are approximately 4.1 million borrowers in forbearance on their mortgage, but a lack of clarity in the wording of the CARES Act was leaving many of those borrowers unable to take advantage of

Housing starts plummet to a five-year low

Housing starts plummeted to a five-year low in April as builders paused activity amid the COVID-19 pandemic. Starts on both multifamily and single-family units dropped 30%, the biggest monthly decline in six decades of records, to a seasonally adjusted annual

Fannie Mae and Freddie Mac head for the exit as COVID-19 rages

In the midst of the sharpest economic drop since the Great Depression, prompted by the COVID-19 pandemic, Fannie Mae and Freddie Mac said they are looking for financial advisors to underwrite what is likely to be the largest public share

[PULSE] Lending in a new world: How to navigate this changing landscape

The lending world is undoubtedly one of the most complex and ever-changing environments within the financial hub. As loan originators, we are required to not only stay abreast of market changes but to also understand them enough to convey this

Who’s on the hook when money disappears due to wire fraud?

Wire fraud is a source of significant harm to financial institutions, with an estimated $1.77 billion stolen in 2019, according to the FBI. For mortgage companies, the vulnerabilities surrounding the closing table constitute an especially big risk. Excited and anxious

Monster Loans ordered to repay $18 million to cheated customers, but many won’t get their money back

Monster Loans, a California mortgage company that uses the tagline “So easy…it’s scary,” was allegedly the front for a complex scheme that illegally pedaled student debt relief services to millions of people whose information was unlawfully obtained from Experian, the

Fraudulent rental applications have spiked during pandemic

Rental application fraud has risen 9% month over month since COVID-19 hit, according to a report from real estate tech company Snappt. Snappt surveyed 100 residential property managers who manage more than 1,000 units and found that 66% had been

Mortgage refinancings set to surge to a 17-year high

If you’re in the mortgage business, fasten your seatbelts. Refinance volume is set to spike to a 17-year high this year as mortgage rates fall to the lowest levels ever recorded, Fannie Mae said. Even as other parts of the

Has the mortgage forbearance curve flattened?

It’s been nearly two months since the number of borrowers who need forbearance on their mortgage began spiking due to coronavirus shutdowns, but it looks like the forbearance curve may be flattening. New data from the Mortgage Bankers Association shows

Do It Together: 5 Home Projects for You and Your Household Helpers

While the kids are out of school, the adults are doing everything they can to keep their little ones safe and healthy at home – and find creative ways to alleviate the boredom and frustration they may be feeling after

Looking for a New Place? Use This Time to Create Your Wishlist

Now that many of us have spent several weeks living inside, we’ve become quite familiar with our homes – in some cases, maybe too familiar. If you were planning to move before COVID-19, and still plan to do so when

7 Ways to Enjoy the Outdoors at Home

In this current moment when many of us are staying home, one of the best remedies to help alleviate some of the stress is to head outside and get some fresh air – preferably at least six feet or more

9 Easy-to-Ambitious DIY Projects to Improve Your Home

Like many homeowners, you may have eyed a home improvement project in the past only to come up short on time or inspiration. Don’t feel bad. Nearly half (43%) of all homeowners say their biggest challenge around home improvement decisions

Selling? Increase Your Home’s “Screen Appeal”

If you were counting on crowded open houses (or any open houses, for that matter) to sell your home, you’ve probably been rethinking your strategy. Nearly the entire country is following public health orders to stay at home through April

5 Ways to Make Your Home Office Work (Even if It’s Your Kitchen)

With social distancing mandates in effect across much of the country, many people working in industries deemed “non-essential” are doing their work from home. And while the constant stream of COVID-19 news, in addition to caretaking or homeschooling responsibilities, can

5 Tips for Moving During COVID-19

Amid travel bans, widespread stay-at-home orders and social-distancing mandates, millions of Americans are learning to adapt to the changes brought about by COVID-19. Countless events have been rescheduled or cancelled, but for a few people – including those who already

Michael Gersitz