Real Estate Broker/Agency News

Mortgage applications rebound following drop in rates

After six consecutive weeks of dips, mortgage applications rose 8.6% in the latest report from the Mortgage Bankers Association. The jump in applications can be traced to mortgage rates falling to the lowest level in two months, prompting a small resurgence in refinance activity, said Joel Kan, MBA associate vice

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Fudge says HUD will focus on housing discrimination

As lawmakers take up housing-related bills in Congress, Housing and Urban Development (HUD) Secretary Marcia Fudge laid out her priorities during an address at the Mortgage Bankers Association’s spring virtual conference. Fudge hailed the passage of the American Rescue Plan as a “landmark law,” and highlighted its $10 billion in

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Calabria: We need another round of PSPA amendments

Federal Housing Finance Agency Director Mark Calabria said the controversial amendments made to Fannie Mae and Freddie Mac‘s Preferred Stock Purchase Agreements in late January should be just the start. “I said in January when the PSPA were signed — there needs to be another set of amendments. January really is

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How good is your real estate or mortgage CRM software?

In the past year, among the many challenges and difficulties brought on by the COVID-19 pandemic, the real estate and mortgage industries enjoyed a wave of success with low interest rates, refinance opportunities and etc. More recently, the buzz surrounds bidding wars due to extremely low inventory, purchase over refinance

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The appraiser can’t be replaced by technology – Here’s why

The public response to the recent Federal Housing Finance Agency (FHFA) Request for Information on appraisal-related issues was significant, with 164 unique written comments. As one might expect, the comments revealed differing opinions. This general alignment matters a great deal as the FHFA, through their oversight of the GSEs, who have the vast majority of the market share, plays a key role in the conforming lending market being the de facto regulator. The

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Homes in Black neighborhoods undervalued by $46,000

In analyzing more than 7 million homes sold between 2013 and the beginning of 2021, Redfin found homes in Black neighborhoods are undervalued by an average of $46,000 compared to homes in primarily white neighborhoods, the company said. The report accounts for the fundamental factors contributing to a home’s value,

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