Keeping Current Matters

NOVEMBER 2, 2023

According to the latest data from Fannie Mae, 23% of Americans still think home prices will go down over the next twelve months.

Marketing 299

Marketing 299

Housing Wire

NOVEMBER 2, 2023

The National Association of Realtors’ longtime CEO Bob Goldberg is leaving the trade association, multiple sources with knowledge of the situation have confirmed to HousingWire Thursday morning. “We are immensely grateful for Bob’s leadership and decades-long service to NAR,” Tracy Kasper, current NAR president, said in a statement. “It has been a privilege to work with him in expanding and strengthening our organization, and we congratulate him on his well-deserved retirement.

Development 487

Development Industrial Closing As-is 487

Real Estate News

NOVEMBER 2, 2023

After steadily climbing this fall, average rates — which have been hovering near 8% — inched down this week, but continued fluctuations are likely.

Mortgages 314

Mortgages 314

Housing Wire

NOVEMBER 2, 2023

Mortgage rates stabilized this week as the Federal Reserve decided to keep its rates unchanged Wednesday. However, mortgage rates still remain at a 23-year high. The 30-year fixed-rate mortgage averaged 7.76% as of Nov. 2, according to Freddie Mac ‘s Primary Mortgage Market Survey. That’s was down slightly from last week ’s 7.79% and up from 6.95% the same week one year ago.

Fixed-rate mortgage 471

Fixed-rate mortgage Mortgages MLS Investor 471

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Agents

Real Estate News

NOVEMBER 2, 2023

Nykia Wright, previously CEO of the Chicago Sun-Times, will be interim CEO. Goldberg had previously announced plans to depart in 2024.

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Housing Wire

NOVEMBER 2, 2023

Smart Rate Mortgage, LLC is no longer licensed as a residential mortgage company in Illinois. Meanwhile, Michael Strauss , its only loan officer, now has an inactive status on his license, according to the Illinois Department of Financial and Professional Regulation (IDFPR). In addition, the Nationwide Multistate Licensing System (NMLS) shows that Jacksonville, Florida-based Smart Rate is no longer authorized to conduct business as of Oct. 3, indicating a voluntary surrender.

Loan Officer 434

Loan Officer Bankruptcy Loans Residential 434

Housing Wire

NOVEMBER 2, 2023

Redfin executives were happy to discuss commission lawsuits during their firm’s third-quarter 2023 earnings call with investors and analysts Thursday evening, just not the one their firm was recently named as a defendant in. “Let’s talk about the copycat lawsuit first, mostly to say that we are not going to talk about it,” Glenn Kelman , Redfin’s CEO said in response to an analyst’s question.

Technology 432

Technology Agents Brokerage Investor 432

Real Estate News

NOVEMBER 2, 2023

While revenue dipped slightly, net losses totaled more than $59 million, but CEO Steve Joyce said the company continued to make progress in a tough market.

Marketing 280

Marketing 280

Housing Wire

NOVEMBER 2, 2023

HousingWire recently spoke with Mack Walker, SVP of capital markets at Deephaven Mortgage , about how the year went for the non-QM sector and what’s in store for the industry in 2024. HousingWire: How did the non-QM sector fare this year among rate increases, slow purchase volumes and the difficulties in the banking sector? Mack Walker: The non-QM sector is similar to other sectors in the mortgage space that endured headwinds throughout 2023 relative to volume in past years.

Banks 422

Banks Investor Lending Loans 422

Real Estate News

NOVEMBER 2, 2023

During the company's Q3 earnings call, CEO Carrie Wheeler said she anticipates a quiet fourth quarter but an uptick in home acquisitions next year.

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Advertiser: Trellis

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.

Loans

Housing Wire

NOVEMBER 2, 2023

In the fast-paced world of real estate , success hinges on the ability to connect with clients. Recently, I dedicated some time to listening in on phone conversations between real estate agents and prospective homebuyers during their initial interactions. From this experience, one overarching and fundamental theme emerged: the importance of listening.

Agents 420

Agents Title Industrial As-is 420

Inman

NOVEMBER 2, 2023

Despite Vrbo itself struggling, Expedia, the travel booking company that owns the short-term rentals platform, recorded $425 million in profits during the third quarter.

Marketing 163

Marketing 163

Housing Wire

NOVEMBER 2, 2023

Amid the most challenging mortgage market in decades, Rocket Companies , the parent of Rocket Mortgage , remained profitable in the third quarter of 2023, showing higher margins in the direct-to-consumer and wholesale channels. This was the first earnings delivered by Rocket’s new CEO, Varun Krishna , who focused his conversation with analysts on the potential of artificial intelligence (AI) and other technologies to transform the business.

Principal 419

Principal Loans Technology Mortgages 419

Inman

NOVEMBER 2, 2023

Available in Arizona, Oregon and Illinois at launch, Better Insurance will expand into Oklahoma, Tennessee and Wisconsin in the next four weeks. The goal is to be in all 50 states in a year.

Mortgages 153

Mortgages Agents Marketing 153

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Sales

Housing Wire

NOVEMBER 2, 2023

While much remains unknown in the wake of the verdict in the Sitzer/Burnett commission lawsuit case, the one certainty is that all three defendants — National Association of Realtors , HomeServices of America and Keller Williams — all plan to appeal. “This matter is not close to being final. We will appeal the liability finding because we stand by the fact that NAR rules serve the best interests of consumers, support market-driven pricing and advance business competition,” Tracy Kasper , NAR’

MLS 405

MLS Brokerage As-is Industrial 405

Inman

NOVEMBER 2, 2023

Amidst challenging market conditions, the real estate franchisor's total revenue was down 8.7 percent year over year to $81.2 million, coming just shy of analysts' expectations. The company also suffered a net loss of $59.5 million.

Marketing 153

Marketing Brokerage 153

Housing Wire

NOVEMBER 2, 2023

Virginia-based community bank Trustar Bank sold its mortgage subsidiary to Archer Mortgage Holding Company, the companies announced on Thursday. The financials of the deal were not disclosed. “This strategic move allows Trustar Bank to focus on our core services while still providing portfolio mortgages to our valued customers,” Shaza Andersen, CEO of Trustar Bank, said in a statement.

Banks 405

Banks Mortgages Loan Officer Loans 405

Inman

NOVEMBER 2, 2023

The company posted profits of $98.3 million, up 8 percent from the third quarter of 2022, while tallying $269 million in revenue, a decrease of 12 percent from a year ago, according to third-quarter earnings Thursday.

Brokerage 152

Brokerage Agents Marketing 152

Speaker: Sarah Santa Ana, Real Estate Coach, Move4Free Realty

Networking is one of the crucial elements in every real estate organization's success. Both agents and real estate companies need to maintain robust networking links. This is why social media is essential for any real estate professional! Social media enables you to stay in touch with your present clients, maintain connections with your past clients, and engage potential customers and investors.

Agents

Housing Wire

NOVEMBER 2, 2023

Real estate agents are always looking for vetted, high-quality leads — and especially so during 2023 market conditions. One of the most efficient ways to acquire leads is to buy them through lead generation providers. These providers offer a rapid and cost-effective means for real estate agents to gather a list of potential clients and ultimately boost sales.

Agents 396

Agents Branding Brokerage Marketing 396

Inman

NOVEMBER 2, 2023

EXp World Holdings' revenue declined 2 percent annually to $1.2 billion in the third quarter, according to a call on Thursday. The company held onto its profitability, with net income reaching $1.4 million.

Brokerage 147

Brokerage Marketing 147

Housing Wire

NOVEMBER 2, 2023

New York-based digital lender Better Home & Finance Holding Company launched Better Insurance to allow customers to shop for homeowners insurance through a fully digital platform. Better Insurance is the latest innovation available through the company’s insurance arm, Better Cover, which partners with more than 20 different insurance providers, according to the firm.

Finance 387

Finance Mortgages Industrial As-is 387

Inman

NOVEMBER 2, 2023

Cost-cutting helped the mortgage lending giant rack up its second consecutive profitable quarter, but at $61.45 billion, mortgage originations for the year to date are down 46 percent from a year ago.

Lending 147

Lending Mortgages Industrial 147

Speaker: Trey Willard, Realtor/Team Leader at Keller Williams Realty, Inc.

In order to create continued success in today’s real estate market, realtors need to utilize an arsenal of technology that will increase their efficiency and presence on social media. Using technology to manage your prospects and tap into their needs through websites, social media, and other channels is critical for real estate success in 2022 and beyond.

Agents

Housing Wire

NOVEMBER 2, 2023

California-based nonbank lender loanDepot is suing former chief operations officer Tammy Richards for breach of contract and fiduciary duty, accusing her of stealing confidential information concerning the lender’s customers. The move is part of a legal battle that started in September 2021 when Richards filed a lawsuit alleging the lender closed thousands of loans without proper documentation to boost its performance ahead of its initial public offering (IPO) on the New York Stock Ex

Debt-to-income ratio 384

Debt-to-income ratio Loans Mortgages Closing 384

Inman

NOVEMBER 2, 2023

The iBuyer saw revenue fall 71 percent year over year in the third quarter of 2023. The company also lost $106 million — a reversal from Q2's net profit.

Technology 142

Technology Marketing 142

Housing Wire

NOVEMBER 2, 2023

My, how things have changed. Just a couple years ago there was incredible momentum building around alternative ways to purchase, sell and extract value from residential properties. iBuyers led the way on reshaping the options available to sellers through direct, instant cash offers at scale. The highly competitive purchase market and bidding wars gave rise to power buyer models to help non cash buyers compete.

Purchase and sale agreement 362

Purchase and sale agreement Marketing Equity Finance 362

Inman

NOVEMBER 2, 2023

Prominent proptech company Lone Wolf Technologies used the stage at an industry conference to present a revamped product line set to roll out to real estate brokerages in phases starting in 2024, a Nov. 1 press release said.

Staging 127

Staging Technology Brokerage Industrial 127

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Agents

Housing Wire

NOVEMBER 2, 2023

Intercontinental Exchange (ICE) Mortgage Technology reported an adjusted operating income of $131 million in the third quarter of 2023, up from Q3 2022’s $126 million — despite the headwinds the mortgage industry is facing. ICE attributed “an analog to digital conversion occurring in the U.S. residential mortgage industry” for its mortgage business outperforming in Q3 even as the industry experienced a nearly 20% decline in origination volumes.

Industrial 283

Industrial Mortgages Technology Loan Officer 283

Brownstoner

NOVEMBER 2, 2023

Ten years ago Sybil Green, who goes by the name Tami, was biking down a stretch of Jackie Robinson Parkway's residential frontage road, which connects Vermont Street in East New York with Highland Park, when she noticed a house that looked in disrepair, with a door ajar and a bright… Read More > The post Woman Who Claimed Abandoned East New York House Fights Investors for Possession appeared first on Brownstoner.

Investor 133

Investor Residential Marketing 133

Inman

NOVEMBER 2, 2023

Find out how this Big Sky brokerage leader prioritizes her team, collaboration and pursuing new development opportunities in her beloved Montana.

Brokerage 132

Brokerage Development 132

RIS Media

NOVEMBER 2, 2023

When discussing luxury homes and grand residential properties, two terms often come up: “mansion” and “estate.” These words are often interchangeable but refer to distinct properties with characteristics and features. The critical differences between a mansion and an estate will be explored, highlighting their unique qualities and functions.

Residential 125

Residential Industrial Agents 125

Speaker: Mary Maloney, Founder & Team Leader at Hometown Realty

The sales cycle in real estate is frequently measured at 3+ months. During this time, real estate agents frequently lose contact with clients and miss out on opportunities because they fail to follow up and provide value to the client. Top real estate agents are distinguished from developing agents by their ability to convert organic connections into sales opportunities.

Sales