With houses flying off the market, bidding wars, and supply shortages pausing new construction, house shopping can’t get much crazier. For months, there’s been no sign of things easing up. But now, at long last, there are some signs of
Fannie Mae’s rental payment change worries some
The mortgage industry had mixed feelings about the Federal Housing Finance Agency’s move to count positive rental history in Fannie Mae’s underwriting process. Advocates for affordable housing cheered the move. Lenders appeared to be supportive of the change. But some
HUD and FHFA raise the focus on fair lending
In an interesting announcement last week, HUD and FHFA issued a joint MOU (memorandum of understanding) that enhances efforts to synchronize fair lending policy, enforcement and investigatory activities. This is a rare instance where HUD and the regulator of the
Divvy Homes hits $2 billion valuation after latest funding round
Divvy Homes, the prop-tech startup that buys homes on behalf of renters and guides them to eventual ownership, announced Friday a new round of funding that nearly quadrupled its valuation to $2 billion. Co-led by Tiger Global Management and Caffeinated
The Post-COVID shift: What Amazon and Zillow can’t do
In just a few months’ time, COVID-19 accelerated the digital shift era to forever change the way consumers approach home buying. This tipping point came after several years of rapid technology growth in our industry. In February 2019, we wrote
A leaner, meaner Douglas Elliman?
Douglas Elliman CEO Scott Durkin In May of last year, New York City residential brokerage Douglas Elliman revealed its business was at a crossroads. “Douglas Elliman began to experience a severe decline in closed sales volume in mid-March 2020 and
10 Ways To Give Your House a Facelift Before Selling
First impressions are everything. So when it comes to selling your home, even the smallest details are important. While little things such as paint chips or mismatched hardware seem like minor cosmetic changes you may not have to worry about,
What will fix the housing market inventory shortage?
The aftermath of the COVID-19 crisis, plus solid housing demographics, has created a genuine problem with housing inventory. Record low inventory has resulted in a hectic housing market with forced bidding becoming typical rather than the exception. One of my
HUD and FHFA join forces on fair housing enforcement
The Department of Housing and Urban Development and the Federal Housing Finance Agency today announced that they will work hand-in-hand to strengthen, coordinate and increase fair housing enforcement of Fannie Mae and Freddie Mac. HUD and the FHFA entered into
7 Home Insurance Myths Debunked
You never know when a disaster will strike and damage your home – whether it be storm damage, fire damage, or a burglary. One way to ensure you have financial protection in case of an emergency situation or unexpected event
Rocket Companies’ plan to transcend mortgage
Rocket Companies CEO Jay Farner Rocket Companies is not content with merely being America’s largest lender. Its ambitions are far outsized, even for a firm with a reputation for taking moonshots. In its quarterly earnings call on Thursday, CEO Jay
Seattle Real Estate Market: Prices | Trends | Forecast 2021
Seattle housing market continues to see low inventory and high competition making things hard for homebuyers. A pandemic housing boom fueled by low interest rates and a scarcity of available homes has driven up single-family home prices and pushed homeownership
Smart Buyer’s Guide to Choosing the Perfect Property
Daydreaming about owning your own home is one of the most intoxicating practices known to modern man, especially now that HGTV and all the house flipping shows make it look like a cake walk. But when the time comes to actually put your money where your daydream is, it can be challenging for buyers especially […]
As Housing Prices Rise, Affordability Squeeze is Coming
Rents will be unaffordable in the coming months, while lower monthly costs for buyers are at the mercy of historically low interest rates Go to Source Author:
Delta variant fears send 30-year mortgage rates to 2.77%
The average 30-year fixed-rate mortgage slipped back down to 2.77% for the week ending August 5, according to mortgage rates data released Thursday by Freddie Mac‘s PMMS. The week prior, mortgage rates had rebounded slightly to 2.80%. According to Sam
Purchase orders give boost to Fidelity’s title segment in Q2
Big-four title company Fidelity National Financial released its second-quarter earnings this week, after Old Republic, First American, and Stewart Title announced their numbers in July. Fidelity reported $3.9 billion in total revenue for the second quarter, up from $2.4 billion
Fintech firm CredEvolv wants to revamp credit counseling
Instead of waiting for credit standards for agency-backed mortgages to relax, two industry veterans are launching a startup to help credit-impaired borrowers rise to meet them. Jeff Walker and Steve Romano founded CredEvolv, a startup that facilitates credit counseling in
eXp CEO loves Glenn Stearns’ star power
Glenn Stearns, founder and CEO at Kind Lending Residential real estate brokerage eXp continues to be profitable, and company CEO Glenn Sanford became a fan of Glenn Stearns through reality television. Those were two takeaways from the company’s second quarter
More households paid their rent and mortgage in Q2 2021
Fewer than five million households failed to make their rent or mortgage payments in the second quarter of 2021, despite the effects of the COVID-19 pandemic still being felt across the country. According to the Mortgage Bankers Association’s Research Institute
Citi adds Liz Bryant to mortgage exec team
Depository bank Citi continues to round out its mortgage executive team under the stewardship of Brad Wayman. Citi announced this week that it had appointed industry veteran Liz Bryant as the new head of retail mortgage sales for the U.S.
The Treasury’s $10B Homeowners Assistance Fund
Trouble paying for firewood, heating oil or back property taxes for your home because of Covid-19? The Homeowners Assistance Fund (HAF) can help with that. In March, Congress allocated $10 billion in funds to prevent homeowners from falling behind on
Listing Agent, Selling Agent, Seller’s Agent: What’s the Difference?
Keeping track of the differences between a listing agent, selling agent, seller’s agent, and even buyer’s agent can be a bit challenging, so learning to quickly recognize what these terms refer to in real estate can help you move forward
30-year mortgage rate tracked by MBA drops below 3%
Mortgage applications fell 1.7% in the week ending July 30, according to the latest report from the Mortgage Bankers Association. That’s despite the 30-year fixed rate falling to its lowest level in roughly six months. It’s an about-face from the
What Do Home Appraisers Look for In a House to Determine Its Value?
You found the house, and you and the seller have agreed on a sale price. Congratulations. Now it’s full steam ahead to closing, right? Not so fast. Some very important steps to the home buying process are just ahead, and