Mortgage Applications Increase in Latest MBA Weekly Survey
November 23 2022 | |
Mortgage applications increased 2.2 percent from one week earlier,according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 18, 2022. Last week’s results include an adjustment for the observance of Veterans Day.
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paymints.io Earns SOC 2 Type 2 Certification
November 21 2022 | |
Paymints.io, a secure, digital, white-label SaaS platform that allows parties to collect earnest money as well as transfer and disburse funds for real estate transactions, has been awarded a SOC 2 Type 2 designation. The certification confirms paymints.io maintains and conforms to a globally recognized standard in its storage and handling of client data.
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CertifID and Stewart Report Significant Reduction in Wire Fraud Risk Over Past Two Years
November 21 2022 | |
CertifID Inc., a leader in wire fraud protection, and Stewart Information Services Corporation, a global leader in real estate services, today announced a significant reduction in wire fraud risk for the title company, home buyers and sellers, and lenders as a result of their partnership. This is in the face of the 64% year-on-year rise in overall cybercrime losses most recently available from the FBI Internet Crime Complaint Center (IC3).
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Share of Mortgage Loans in Forbearance Increases Slightly to 0.70% in October
November 21 2022 | |
The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance increased by 1 basis point from 0.69% of servicers’ portfolio volume in the prior month to 0.70% as of October 31, 2022. According to MBA’s estimate, 350,000 homeowners are in forbearance plans.
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Realtors®' CEO Meets with White House Officials to Discuss Housing Supply, Affordability
November 21 2022 | |
National Association of Realtors® Chief Executive Officer Bob Goldberg joined White House officials and industry representatives Wednesday to discuss the Biden administration’s response to housing supply and affordability constraints affecting the country. NAR President Kenny Parcell followed up the meeting with a letter to White House officials outlining numerous priorities the trade association believes would help address these ongoing challenges.
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Black Knight to Sell TitlePoint Line of Business to Fidelity National Financial
November 18 2022 | |
TitlePoint, which is part of Black Knight's Data & Analytics segment, enables searches for detailed property information, images of documents and maps from hundreds of counties across the U.S. that help title insurance underwriters, title agents and closing attorneys quickly compile title search packages to support the safe transfer and financing of real property.
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Existing-Home Sales Slumped 5.9% in October
November 18 2022 | |
Existing-home sales retreated for the ninth straight month in October, according to the National Association of REALTORS®. All four major U.S. regions registered month-over-month and year-over-year declines.
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Single-Family Housing Contraction Continues in October
November 17 2022 | |
Elevated mortgage rates, high construction costs for concrete and other building materials and weakening demand stemming from deteriorating affordability conditions continue to act as a drag on single-family housing production.
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Equipping Title Agents with Digital Platforms and Tools for a Changing Landscape
November 17 2022 | |
While the housing market adjusts to higher mortgage rates and affordability challenges, many title agents are eager to adopt digital technologies and tools that can help them compete. With this in mind, First American Title recently launched its PRISM™ digital platform, allowing First American policy-issuing title agents to offer time-saving automation and marketing tools directly to their customers to help them navigate this rapidly transitioning environment.
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Title Resources Group Welcomes Two New Executives
November 14 2022 | |
Title Resources Group (TRG), one of the nation's leading title insurance underwriters, announced this month that they have welcomed two new team members to their executive leadership team. Peter Prygelski joined the company as Chief Financial Officer and Lisa Clarke-Wilsonas Chief of Staff.
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Commercial Real Estate Market May See Slight Decline in Prices in 2023
November 12 2022 | |
Although commercial real estate prices may see a slight decrease nationwide, strong job growth will continue to drive demand in many markets, according to NAR Chief Economist Lawrence Yun. Yun joined other commercial real estate experts today at2022 NAR NXT, The Realtor® Experience, in Orlando, Florida, to discuss economic trends and issues affecting the commercial real estate industry.
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MBA Announces 2023 Affordable Homeownership Advisory Council
November 09 2022 | |
“Creating affordable housing opportunities and closing the racial homeownership gap are long-standing goals for MBA,” said Steve O’Connor, MBA’s Senior Vice President for Affordable Housing Initiatives. “The Affordable Homeownership Advisory Council provides us with crucial insight on how we can create a more affordable and equitable housing market for all households.”
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Secured Signing to Partner With Clear Skies Title Agency
November 07 2022 | |
The New Jersey Law on Notarial Acts (Act), NJ Assembly Bill No. 4250 was signed into law by New Jersey Gov. Phil Murphy on July 22, 2021, - permanently authorizing New Jersey Notaries to conduct remote online notarizations (RON) of electronic and tangible documents. Clear Skies Title Agency has decided to implement the Secured Signing platform and take advantage of the multi-layered platform to provide security, flexibility and convenience to their business and real estate client needs.
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October Jobs Report Commentary from MBA's Joel Kan
November 04 2022 | |
“Wage growth, as measured by average hourly earnings, decelerated to a 4.73 percent year-over-year rate, compared to 4.98 percent in September. This was the slowest rate of growth since August 2021. The easing in wage growth might help reduce some inflationary pressure, but we expect the Federal Reserve to continue its current course of policy tightening until there is broader evidence of cooling inflation.”
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Redfin Reports Demand Declines Ease as Mortgage Rates Steady Around 7%
November 04 2022 | |
One-third fewer homes went under contract in October than last year, the largest decline since at least 2015, according to a new report from Redfin, the technology-powered real estate brokerage. Several pandemic boomtowns including Las Vegas, Miami and Phoenix posted declines of around 50%. Nationwide, a record-high share of home sellers dropped their price last month.
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NAR Finds Share of First-Time Home Buyers Smaller, Older Than Ever Before
November 03 2022 | |
When compared to a year ago, the share of first-time home buyers dropped to a record low, while the age of a typical first-time buyer increased to an all-time high. The median distance buyers moved from their previous homes more than tripled from the distance registered the previous four years as the shares of homes purchased in small towns and rural areas reached record highs.
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Mortgage Applications Decrease in Latest MBA Weekly Survey
November 02 2022 | |
Mortgage applications decreased 0.5 percent from one week earlier,according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 28, 2022. This week’s results include revised data to reflect an update to last week’s survey results.
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