Wed.Apr 24, 2024

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DOJ charges one of America’s top LOs in alleged mortgage fraud scheme

Housing Wire

Two former New Jersey -based mortgage loan originators have been charged with conspiracy to commit bank fraud by the U.S. Attorney’s Office, District of New Jersey according to an announcement by the U.S. Department of Justice (DOJ) and U.S. Attorney Philip Sellinger. Christopher Gallo has been noted as a top-producing loan originator, at one point being Scotsman Guide ‘s fourth-ranked LO in the country.

Mortgages 543
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Foreclosure Numbers Are Nothing Like the 2008 Crash

Keeping Current Matters

If you’ve been keeping up with the news lately, you’ve probably come across some articles saying the number of foreclosures in today’s housing market is going up.

Marketing 313
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Announcing the 2024 Class of Rising Stars!

Housing Wire

HousingWire is excited to announce this year’s Rising Stars, representing the next generation of leaders in mortgage and real estate. This year 80 honorees were selected. The Rising Stars award recognizes the emerging leaders in the industry who have demonstrated rapid career growth and an ability to lead, achieving remarkable milestones all before the age of 40.

Principal 459
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Zillow CEO: ‘Keep your head down and deliver for your customers’

Real Estate News

At the T3 Leadership Summit, Rich Barton discussed what’s in store for Zillow and the industry — and encouraged the audience to “resist the urge to chaos.

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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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Technology’s role in rental property investment market

Housing Wire

The rental segment has been marked by strong demand and looks to continue on this trajectory given mortgage rates that continue to hover around 7% and record property prices across many U.S. regions. In spite of some slowdown, rents have continued to appreciate, being nearly 30% higher than prior to the pandemic, with February levels up 3.5% as compared to the previous year.

Marketing 473
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Tech Bytes: T3 Sixty announces Fusion Website Award finalists

Real Estate News

Awards recognize residential real estate brokerage sites for excellence in website design, functionality and performance.

More Trending

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Realty ONE, @properties reach settlements in commission cases

Real Estate News

The brokerages are the first to settle following preliminary approval of the NAR agreement by a Missouri judge earlier this week.

Brokerage 244
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What are the potential home equity and tax strategies for wealthy seniors?

Housing Wire

Seniors could choose to employ home equity through a reverse mortgage or other equity-tapping product to manage a series of expenses in retirement , but when it comes to managing their tax burden , it can get more complicated. Steve Resch, vice president of retirement strategies at industry-leading lender Finance of America Reverse (FAR), told Financial Advisor that the utility can vary when it comes to tax savings.

Equity 457
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Judge says yes to consolidation of Missouri cases

Real Estate News

The court approved an April 19 request filed by the Gibson and Umpa plaintiffs to merge the lawsuits, which were both under the purview of Judge Stephen Bough.

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In its war on ‘junk fees,’ CFPB targets mortgage servicing

Housing Wire

The Consumer Financial Protection Bureau (CFPB) on Wednesday released a new edition of its Supervisory Highlights publication, which includes the agency’s actions to combat what it calls “ junk fees charged by mortgage servicers , as well as other illegal practices.” Examinations conducted by the bureau found mortgage servicers levied charges it deems “illegal,” including prohibited property inspection fees, the issuance of “deceptive” notices to borrowers, and violations of loss-mitigation rule

Mortgages 469
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Driving Profit: 4 Pillars for Growing Your Real Estate Brokerage

In the rapidly changing real estate landscape, achieving profitability requires a strategic approach beyond traditional methods. Our guide, "The 4 Pillars to Brokerage Profitability," outlines four essential pillars for scaling your real estate business: a seamless lead-to-close technology ecosystem, tailored integrated solutions for teams and agents, value-added success services and community support, and consumer-centric operations throughout the full homeownership lifecycle.

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Sign a buyer brokerage agreement to see a property? No way!

Inman

Buyers and sellers are confused about the new rules of the road. Trainer Bernice Ross and Jeff Lobb discuss how agents can change up the conversation and add clarity and confidence.

Brokerage 195
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Pennymac posts first-quarter profit of $39M

Housing Wire

Pennymac Financial Services earned a profit of $39.3 million in the first quarter of 2024, the California -based multichannel lender and servicer announced Wednesday. The company’s pretax gain in the first quarter was $43.9 million. That was less than the $38.1 million figure it posted during the same period last year but a significant improvement from the pretax loss of $54.2 million it incurred in fourth-quarter 2023.

Lending 445
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Decades of NAR membership data has vanished amid enrollment dip

Inman

Each month, the trade group publicly reports the size of its ranks and other data on its official website. But as recently as this month, state-by-state and national data is nowhere to be found.

As-is 187
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Side’s Hilary Saunders discusses the evolution of brokerage models

Housing Wire

Hilary Saunders speaks at The Gathering by HousingWire on Monday, April 22. Photo credit: AJ Canaria Hilary Saunders , the co-founder and chief broker officer at Side , sees the current challenges facing the real estate industry as yet another opportunity for brokerage models to further evolve. “I think what we are definitely going to see is a fall-off of the old way of doing things,” Saunders told attendees at HousingWire ’s The Gathering.

Brokerage 444
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Tech-Forward Strategies for Scaling Agent Efficiency & Accelerating Growth

As the real estate market evolves, technology has become essential for success. According to NAR, only 26% of agents feel their brokerage provides the necessary tech tools and, as a result, agents seek teams and brokerages who prioritize technology investments! Whether you manage an established team or are forming a new one, this guide outlines key considerations and necessary applications to thrive.

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Once bright buyer hopes plummet as agents process NAR changes

Inman

Agent optimism over future buyer pipelines fell from 44 percent before the deal to 27 percent afterward — one of the starkest monthly shifts in sentiment that Intel has recorded in the last year.

Agents 184
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Realty One Group joins growing list of firms to settle commission lawsuits

Housing Wire

Realty ONE Group International has joined six other real estate brokerages in settling the commission lawsuits. The firm announced on Wednesday that it has entered into a nationwide settlement agreement with the commission lawsuit plaintiffs. The settlement, which is still subject to court approval, will settle all claims against Realty ONE Group, its franchises and affiliated agents.

Brokerage 456
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Fed’s ‘higher for longer’ gambit may yet cool home price gains

Inman

Fannie Mae and MBA economists are now in agreement that mortgage rates will come down only gradually this year and next but that home price appreciation will slow.

Mortgages 184
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HUD aims to help protect communities from extreme heat

Housing Wire

The U.S. Department of Housing and Urban Development (HUD) on Wednesday announced new initiatives to bolster community protections against severe heat, an issue that has become more common nationwide. “For the first time in its history, HUD published a webpage on Extreme Heat that serves as a hub highlighting actions communities can take to prepare and respond to extreme heat events and available resources to help fund climate resilience projects,” the department said.

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The Broker Action Plan for the Post-NAR Lawsuit Landscape

Now more than ever, brokers need to provide agents with the right tools, strategies, and training to effectively demonstrate their expertise, negotiate successfully, and foster strong client relationships. So – what should brokers do to ensure this? Invest in the right technology, continuous education, and innovative marketing strategies that empower agents to stand out in a crowded marketplace.

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Homebuyers falter as mortgage rates hit new 2024 highs

Inman

Requests for purchase loans were down 1 percent week over week and 15 percent from a year ago, according to the latest Mortgage Bankers Association survey.

Mortgages 169
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Top Producer Review: Features, pricing & alternatives

Housing Wire

Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. While the real estate industry is forever in flux, one constant is that it’s a relationship business. One of the biggest challenges for agents is finding new clients and staying top-of-mind until they are ready to buy or sell.

MLS 434
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California Association of Realtors CEO resigns after 2 years

Inman

Two years after taking the helm, California Association of Realtors CEO John Sebree has stepped down from his post. His resignation went into effect immediately, with C.A.R. subsidiary Real Estate Business Services (REBS) CEO Debra Ferrier taking over as interim CEO as the Association launches a nationwide search for a new leader.

MLS 155
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Figure names Michael Tannenbaum as CEO

Housing Wire

Figure Technology Solutions , the parent company of Figure Lending LLC , named Michael Tannenbaum as its new CEO, the company announced on Tuesday. Tannenbaum will also be a member of the board of directors. Meanwhile, Mike Cagney, the company’s co-founder and previous CEO, will continue to serve as executive chairman of the company. “With its proven ability to develop cutting-edge technological solutions to streamline the HELOC lending process, Figure has cemented itself as one of the most exci

Lending 428
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Accelerating Real Estate Sales Pipelines to Streamline Buyer Journeys

Navigated 360° tours, like YourVRTours, advance pipelines by engaging clients further along the sales funnel. These immersive experiences provide comprehensive property insights, increasing buyer intent and readiness. By embracing navigated tours, agents can optimize property exposure, better qualify leads, and streamline the sales process. Stay ahead in the ever-evolving real estate landscape with innovative technology that elevates buyer journeys and progresses pipelines more effectively.

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New San Francisco showroom offers private islands and yachts

Inman

Demand for some of the most exclusive luxuries remains, even as the city of San Francisco itself grapples with plunging home prices and an all-time high in office vacancies.

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Special report: The brokerages gaining or losing market share in Dallas

Housing Wire

Few cities have benefited as much from the recent trend of Americans increasingly moving south as Dallas. The Dallas-Fort Worth-Arlington metro area had the largest increase in population count between 2021 and 2022 of any metro area in the country, adding more than 170,000 people , according to the U.S. Census Bureau. That’s a lot of new Texans in a state that already has three of the nation’s 10 largest cities.

Brokerage 424
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Maxwell’s AI tool probes inner workings of mortgage lending

Inman

Mortgage lenders using AskMax no longer need to be database engineers. They can ask for — and receive — business intelligence in plain English.

Lending 154
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Court allows Gibson and Umpa suits to consolidate

Housing Wire

Judge Stephen R. Bough ruled Tuesday that the Umpa and Gibson commission lawsuits can consolidate. “The Court finds that consolidation is appropriate given that the instant case and Gibson, et al. v. National Association of Realtors , et al., involve common questions of law and fact, consolidation will conserve judicial resources and promote efficiency, and consolidation will not cause undue delay, confusion, or prejudice,” Bough wrote in his ruling.

Brokerage 423
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Boldtrail Backoffice - Take The Quiz to See What Package Is Right For You

BoldTrail BackOffice provides a single, streamlined solution to manage agent onboarding and billing and commission tracking and disbursements, along with agent management, reporting, and accounting - so your brokerage can run smoothly & profitably. Our #1-rated back office solutions have exactly what your business needs to deliver a seamless experience for your clients and your team.

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Are real estate’s best-paid CEOs worth the money? DelPrete

Inman

Industry expert Mike DelPrete looks at CEO compensation for some of the biggest names in real estate and how it relates to company performance.

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A&D Mortgage names new servicing manager

Housing Wire

Florida -based wholesale lender A&D Mortgage appointed Satish Vishwakarma to the role of servicing manager, the company announced on Tuesday. In this new role, Vishwakarma will be responsible for overseeing the day-to-day operations of the mortgage servicing department. He will ensure the successful management of mortgage servicing teams while leading efforts to streamline operations, enhance quality and reduce costs.

Mortgages 418
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When it comes to choosing a brokerage, one size does not fit all

Inman

Conrad Miller shares what the right brokerage can do for your professional growth and personal satisfaction at every stage of your real estate career.

Brokerage 133
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Reverse mortgage veteran offers advice for bringing new partners aboard

Housing Wire

As any professional involved in it will know, bringing new people into the fold of the reverse mortgage business can be a difficult task. Reputational challenges , the narrow focus of the product and low mortgage market penetration are just a few of the reasons why. With the right ambassador, that task is made simpler. The partner engagement program at Finance of America Reverse (FAR) aims to bring new people and professional relationships into the orbit of the nation’s top reverse mortgage lend

Mortgages 413
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Maximizing Your Online Presence: Tips for Real Estate Agents on Social Media

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.