Alcynna Lloyd is a reporter at HousingWire. Lloyd has a degree in broadcast journalism from the University of North Texas. She previously interned with a broadcast position at CBS and has a background in freelance journalism.
The real estate industry is constantly evolving as new products and practices are introduced to the marketplace. And right now, the rise of the iBuyer is taking the industry by relative storm. At HousingWire’s engage.marketing conference held last week in Charlotte, prominent Realtor Leigh Brown said the real estate industry is locked in steep competition with these type of investors, because iBuyers are minimizing the role of agents and “stealing equity” from homeowners.
As cost and labor concerns continue to grow, homebuilder confidence retreated to 64 points in June, according to the National Association of Home Builders/Wells Fargo Housing Market Index. NAHB Chairman Greg Ugalde said while demand for single-family homes remains sound, builders continue to report rising development and construction costs, with some additional concerns over trade issues.
First American, a title insurance company, recently appointed Paul Bandiera to the position of vice president of information technology strategy. Bandiera, who previously served as the president of a title and escrow software company, brings 18 years of leadership experience in retail title and settlement software development.
At HousingWire’s engage.marketing conference in Charlotte, North Carolina, top mortgage originators discussed how they market themselves, and why this is an essential part of finding success in their jobs.
This week, mortgage rates held at a two-year low after the U.S. government avoided a trade war with its neighbors to the south, according to the latest Freddie Mac Primary Mortgage Market Survey. Freddie Mac Chief Economist Sam Khater said easing trade tensions with Mexico have helped stabilize the nation's markets.
Mortgage borrowers who shopped around last week could’ve saved $42,137 over the life of a $300,000 loan, according to LendingTree's Mortgage Rate Competition Index. LendingTree indicates that the share of borrowers who received rates under 4.25% rose to 53.5%, with the index retreating 0.89 for the week ending June 9, 2019.
LoanCare, a ServiceLink company, recently appointed Michael Blair to the position of chief administration officer. Blair will now be responsible for overseeing the onboarding of new clients and servicing portfolios.
Despite growing economic tension, mortgage applications continued to climb, according to the Mortgage Bankers Association. MBA Vice President of Economic and Industry Forecasting Joel Kan said purchase and refinance applications surged, driven mainly by lower mortgage rates.
Although bidding wars are slowing as the housing market continues to cool, new data from Redfin suggests that San Francisco's housing market is heating back up. Redfin Chief Economist Daryl Fairweather said recent tech IPOs have reignited competition in the metro.
For anyone actively working in the mortgage industry, it’s no secret that reverse mortgages have taken a brutal hit in the last two years. The U.S. Department of Housing and Urban Development issued major program changes at the end of 2017 that effectively limited the amount of proceeds and the number of people who could qualify for the loan. The result had lenders across the space enduring sizable volume drops and subsequent gashes to their bottom lines.