Mortgage applications for new home purchases fell 9% month-over-month in May at a seasonally unadjusted pace ― the second consecutive month sales of new homes have dropped, according to data released Thursday by the Mortgage Bankers Association. Compared to May
Converting Hotels to Housing
The National Association of Realtors (NAR) has released new research on the conversion of hotels and motels into housing. While the study was spurred by a 37% drop in hotel occupancy rates driven by the pandemic, the findings have broader
How Can We Innovate to Put Customers First?
Would you be willing to walk away from your current role, on the heels of a bet? That’s exactly what serial entrepreneur Chieh Huang, Co-Founder of Boxed.com, did and it’s landed him in not one but two successful business ventures.
5 Ways to Find Real Estate Comps in Your Area
Whether you’re selling your first home or you’re a first-time homebuyer, finding comparable sales of homes in your area is much easier than it was even ten years ago. Back then, it wasn’t easy to find publicly available data online
Home prices still rising in Phoenix, Austin, Sacramento
Phoenix, Austin, Sacramento, Las Vegas and Miami reported the biggest increase in home prices in May, according to a recent report from Redfin. Home prices in Austin were up 42.4% year over year in May to $470,000, the biggest increase
Inventory Rebounds Amid Record Home Value and Rent Growth
Time on market drops to six days across the U.S. in hot home-buying season Go to Source Author:
Princeton’s Courtney Graham to speak at engage June 17
Courtney Graham, Princeton Mortgage CMO, will speak at HousingWire’s annual engage.marketing on June 17. Graham will join Bill Dallas, president of Finance of America Mortgage, on a panel entitled Winning in a Red-Hot Purchase Market. Graham, a 2020 HousingWire Woman of Influence, led
Mortgage forbearance drops as expiration date nears
Mortgages in forbearance fell for the 15th consecutive week last week to 4.04% of servicers portfolio volume ― a 12 basis point decline, according to a survey from the Mortgage Bankers Association. As of June 6, the MBA now estimates
ICE, DocMagic team up to offer closing technology
ICE Mortgage Technology will now deploy an “eVault” solution as part of its mortgage closing platform to ensure the secure storage of digital mortgages and notes, it announced late last week. Digital mortgage platform DocMagic Inc. is providing the eVault
Watersone Mortgage’s COO on finding a way to “yes” for each loan file
Mortgage operations were a make or break component of every lender’s 2020 strategy, putting operational professionals in the housing economy to test in a turbulent market. As Chief Operating Officer at Waterstone Mortgage, Rich Tucker is no stranger to the
Home appraisal’s ugly history and uncertain future
This is Part I of a deep dive into the home appraisal industry, which has faced a growing number of claims of racial bias. Today we explore the origins of the appraisal industry and its current lack of diversity. In
Bond yields foretold housing market and economic recovery
The recent action in the 10-year bond yield has puzzled many people, but it looks wonderful to me as it shows that the U.S. economy and housing market are leading the world out of the recession. When I wrote the
Lanco Title joins Northwest Title family of companies
Ohio-based Lanco Title Agency has joined forces with the Northwest Title group, bringing the two Buckeye State firms together. “The new affiliation will help provide Lanco Title with a greater depth of resources and support available to their customers,” the
How Rocket Pro TPO continues to give its broker partners the upper hand
Mortgage brokers are facing a vastly different landscape than this time last year. In 2020, the refinance boom caused lenders and brokers to go on hiring sprees, and loan originators were putting in substantial hours. Now, as refinance volume slows
Unwrapping what to expect in your home inspection, appraisal and closing
What’s the difference between a home inspection and an appraisal? Have you budgeted for closing costs? The home-buying journey can seem daunting when questions like these are around each turn. Before you get overwhelmed, take comfort that critical milestones of
Profit margins are just going to get worse, lenders say
Lenders’ profit margin outlook declined in the second quarter of 2021, the third consecutive quarter of pessimism on the profit front, according to Fannie Mae‘s quarterly Mortgage Lender Sentiment Survey. According to the second-quarter survey, 69% of lenders believe profit
Industry groups urge Biden to let CDC eviction ban sunset
A broad swath of the housing industry is calling for the Biden administration to let the Centers for Disease Control (CDC) eviction ban lapse at the end of this month. In a letter, 12 industry groups including the National Association
Margins Slipping? Use Data for More Accurate, Dynamic Pricing
The mortgage landscape continues to become increasingly more competitive each day. Thanks to the convenience of online rate-shopping tools, a boost in consumer knowledge of the homebuying process, and a growing number of independent mortgage banks, it is now more
Ben Caballero heads RealTrends’ 2020 top agent list
Most of the highest producing real estate agents in the country belong to an established, national brokerage. Unless, that is, you are at the very top of the profession. RealTrends, which is owned by HW Media, on Friday released its
RealTrends 1000: 50% increase in transaction sides in ’20
No surprise, big growth is the theme of 2020, with RealTrends + Tom Ferry The Thousand and America’s Best Real Estate Professionals showing huge boosts in transactions sides and volume, yet productivity has not increased year to year (2019-2020). Today,
How Long Does an Appraisal Take and What to Expect?
Congratulations! You’ve gotten preapproved for a home mortgage, found your dream home, negotiated an agreeable sales price, successfully maneuvered through the home inspection process, and finally, you have a fully executed sales contract in hand for your new house. If
What to Do After a Storm Damages Your Home: 5 Steps to Take
Over the years, many cities across the U.S., especially cities like Tampa, FL, and New Orleans, LA, have weathered brutal storms that have damaged homes, devastated communities, and had lasting impacts on their housing markets. Unfortunately, destructive storms are becoming
How non-QM lenders can make the origination process easier for brokers
There are a number of challenges affecting the non-QM market, but there are also opportunities. By partnering with a mortgage company that understands how to streamline non-Qm loans, brokers can close loans quickly and effectively. HousingWire recently sat down with John
When wouldn’t you go with the highest offer?
It can be hard to imagine — choosing an offer that is $1,000, $5,000 or $10,000 less than the highest bidder. However, it actually happens all the time, and for good cause. Here are four reasons why you might choose