Return to onsite work motivating one in 10 home sellers to move
New Redfin survey examines reasons for selling in elevated interest rate environment
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CoreLogic: Home prices regain steam in July, but appreciation slowing
Prices set to keep growing, but high rates look to curtail additional price surges moving forward
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Homeowners lose equity annually but see gains quarter over quarter
Collective equity drops more than $287 billion from Q2 2022, but vaults by over $800 billion from winter to spring
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Industry Watch: UWM upgrades credit check program and more
PennyMac and RoundPoint Mortgage have announced that customers’ personal information may have been exposed in a data breach. Software vendor Sovos Compliance alerted the two companies of a “vulnerability” in its MOVEit file transfer program resulted in unauthorized access to customers’ private data, potentially including names and Social Security numbers. Due to the breach, Sovos […]
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Freddie Mac CEO DeVito to step down early next year
Longtime mortgage industry executive took over helm of government-sponsored enterprise in 2021
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Notable mortgage industry additions and promotions, September 4-8
The Mortgage Bankers Association (MBA) has announced that George Rogers has joined the association as vice president of legislative affairs. In this role, he will be responsible for advocating on behalf of MBA’s legislative and policy priorities on Capitol Hill, with a primary focus on Republican members of the United States Senate. He arrives at […]
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San Francisco leads U.S. in share of homeowners selling at loss
Most home sellers nationwide still making profit, but some cities see uptick in sales for loss
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Are monthly mortgage payments above $2,000 the new normal?
Average principal and interest payment hits highest level ever in July
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Vast majority of home seekers — especially young ones — mindful of climate risks
But not enough to move to less risky areas, according to Zillow study
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New York, California have country’s highest average closing costs
Closing costs in those two pricey states are more than $7,500 each
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Industry Watch: A new acquisition for Guild Mortgage and more
Guild Mortgage has acquired First Centennial Mortgage, a privately held residential mortgage lender headquartered in Illinois with branches predominantly located in the Midwest. First Centennial Mortgage was founded by brothers Steven and David McCormick in 1995. The terms of the acquisition were not disclosed. Nations Lending has announced the opening of its newest branch in […]
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More gradual cooling in labor market brings economy closer to ‘soft landing’
Job additions slowing but stable; wage growth eases, but still exceeds target range
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High interest rates impact industrial sales volume during first half of year
Property prices hold steady; outlook remains positive
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New Case-Shiller Index data confirms summer home price strength
June marks fifth straight month of increases as home price index climbs near historic high
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ICE’s acquisition of Black Knight set to close on Sept. 5
Divestitures of Empower and Optimal Blue expected to close 20 days thereafter
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Industry Watch: Zillow Loans debuts 1% down product and more
Nations Lending has announced the opening of its newest branch in Orlando, adding Jennifer Smith as branch manager. The new office will be servicing the Orlando area as well as the broader Florida region. Zillow Home Loans has announced its 1% Down Payment program, initially being offered on properties located in Arizona with plans to […]
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Data center demand stays hot, widening supply-demand imbalance
Developing technologies like artificial intelligence continue to boost subsector
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Notable mortgage industry additions and promotions, Aug. 21-25
New American Funding (NAF) has announced the expansion of its executive leadership team with the appointment of Andrew Strickman as chief marketing officer. Prior to joining NAF, Strickman led marketing at Care Access and has spent the last few years advising purpose-focused startups and non-profit organizations. He also spent eight years as the senior vice […]
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Recession or soft landing? It may not matter much for housing outlook
Home sales set to ‘remain subdued’ either way, according to Fannie Mae economists
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New home sales grow in July, defying increasing rates
Last month’s sales pace up a whopping 31.5% year over year
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MBA, CBA call for consistency, flexibility regarding AVM regulation
Too much oversight could stifle potential of automated valuation models, groups say
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Existing home sales slide again in July as inventory, rates hold back buyer activity
Since February sales spike, resales have improved just once — slightly — in five months
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Residential investors stay involved as second-quarter market share essentially unchanged
‘No sign that the share will fall back to its pre-pandemic level,’ according to CoreLogic
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Negativity remains subdued, but outlook mixed in latest MOSS results
Less than half of Top Originators expect business to get better in next six months
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Industry Watch: Doma sells Florida title operations and more
A federal jury has awarded shareholders of Fannie Mae and Freddie Mac $612.4 million in damages after ruling that the Federal Housing Finance Agency acted “arbitrarily or unreasonably” in carrying out the “net worth sweep” that pushed the government-sponsored enterprises’ full profits to the Treasury Department in 2012. BankFirst Financial Services has announced the opening […]
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Notable mortgage industry additions and promotions, Aug 14-18
Black Knight has announced that Lucie Fortier has been named executive vice president of the company’s MLS Solutions group under Black Knight’s Data & Analytics division. In her new role, Fortier will develop strategy and oversee development, sales and client support for this team, which is focused on delivering premier solutions and support to the […]
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Single-family starts grow in July, but rising rates loom as crucial headwind
Weak resale supply fuels 9.5% annual gain in single-family construction
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Commercial and multifamily originations down 53% year over year in second quarter
Growing cost of capital fuels plunge from strong Q2 in 2022
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GSE investors get rare win as federal jury awards $612.4 million in damages
Jury sides with shareholders of Fannie and Freddie regarding profits taken by Treasury in ‘net worth sweep’
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7% rate threshold looms large over Black Knight’s July rate-lock data
‘No escaping the fact that conforming 30-year-rates topped 7% in July for the first time since they spiked last fall’
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Homes in ‘high-opportunity’ neighborhoods cost 38% more than ‘low-opportunity’ areas
New study from Redfin aims to quantify impact of upward mobility on home prices
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Industry Watch: UWM announces new pricing adjustments and more
The Federal Trade Commission has agreed to drop its challenge of Intercontinental Exchange’s acquisition of Black Knight, paving the way for the companies’ merger. Key Mortgage has announced the planned launch of a new Community Impact and Lending division. Headed by the recently promoted LaToya Spann Martin, the new division is dedicated to growth, education […]
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Notable mortgage industry additions and promotions, Aug. 7-11
Key Mortgage Services has announced the hiring of Jason Brown as vice president, area sales manager, and the promotion of LaToya Spann-Martin as area sales manager. Brown joins Key Mortgage from Chase, bringing 23 years of lending experience to the company. In his new position as area sales manager, Brown will support sales by focusing […]
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NAR: Nearly 60% of metros see price gains
Median home price still drops as many large metros see declines
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RentCafe: Converted apartments set for ‘impressive growth’
122,000 units currently undergoing conversion process into residential spaces
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New study reveals home price, mortgage rate misconceptions among Americans
Many respondents in the dark about current prices and rates
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Fannie Mae sentiment index inches upward, but homebuyer perception falls to new low
Gains in three components of index offset by ongoing affordability issues
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FTC agrees to dismiss challenge against ICE acquisition of Black Knight
After two key divestitures, a path is paved for the merging of two mortgage tech titans
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Industry Watch: Movement Mortgage expands into reverse mortgages and more
Movement Mortgage has announced its expansion into reverse mortgages under the leadership of Harlan Accola, the company’s new national reverse mortgage director. Movement has also added a team of reverse mortgage sales and operations personnel, including Dan Hultquist, George Vrban and Kari Van Kleef, to support Accola and the company’s new mortgage product. Zillow and […]
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July’s jobs report paints another mixed picture
Employment additions fall short of forecasts, but wage growth remains brisk
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Notable mortgage industry additions and promotions, July 31 to Aug. 4
Rocket Companies has named Varun Krishna as its new chief executive officer, effective Sept. 5. LoanDepot has announced that Melanie Graper has been named chief human resources officer. Graper will oversee all aspects of the company’s human capital function and drive forward critical organizational aspects of loanDepot’s Vision 2025 plan. She will be based in […]
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JLL: Industrial real estate fundamentals beginning to cool
Absorption set for big drop after deliveries of pre-leased assets
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