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National Association of Realtors® Moves to Dismiss Antitrust Suits; Shows Lawsuits Are Self-Contradictory, Ignore Precedent and Lack Economic Sense
The National Association of REALTORS® (NAR) moved last week to dismiss the Moehrl v. NAR lawsuit and the copycat Sitzer v. NAR lawsuit because both amended complaints fail to show how NAR rules for the operation of Multiple Listing Services (MLSs) inhibit competition or cause the plaintiffs any harm.
RamQuest Announces Integration With ClosingLock
RamQuest title companies now have easy access to solution that minimizes wire fraud risk. RamQuest, Inc., a leading provider of technology-based solutions for the title insurance and settlement industry, announced today that it is integrated with ClosingLock.
Westerly Becomes First Municipality in Rhode Island to Adopt E-recording
Simplifile, a leading provider of real estate document collaboration and recording technologies for lenders, settlement agents, and counties, today announced that the Town of Westerly has joined Simplifile’s e-recording network following the July 1 passage of a law authorizing e-recording statewide in Rhode Island.
AccuSearch Company
Builder Confidence Trending Higher as Interest Rates Move Lower
Builder confidence in the market for newly-built single-family homes rose one point to 66 in August, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index released today. Sentiment levels have held at a solid 64-to-66 level for the past four months.
Single-Family Starts Continue Modest Improvement in July
Due to a decline in multifamily production, total housing starts fell 4 percent in July to a seasonally adjusted annual rate of 1.19 million units from a downwardly revised reading in June, according to a report from the U.S. Housing and Urban Development and Commerce Department.
July New Home Purchase Mortgage Applications Increased 31.2 Percent
The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for July 2019 shows mortgage applications for new home purchases increased 31.2 percent compared from a year ago.
National Association of Realtors® Applauds Long-Awaited FHA Condo Rule
The National Association of Realtors® today commended the Department of Housing and Urban Development for finalizing new Federal Housing Administration condominium loan policies. The changes, many of which NAR has championed for over a decade, should yield thousands of new homeownership opportunities and help alleviate affordability restraints impacting markets across the country.
Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage applications increased 21.7 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending August 9, 2019.
FHA Issues New Condominium Approval Rule
In an effort to promote affordable and sustainable homeownership, especially among credit-worthy first-time buyers, the Federal Housing Administration today published a long-awaited final regulation, and policy implementation guidance, which establish a new condominium approval process.
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True or False: Zillow is Taking Over Title Searches
Christopher Hoffer's Blog

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New Jersey Governor Signs Blockchain Development Bill
New Jersey Governor Phil Murphy signed a law S2297, according to which the state will create a target group to study potential scenarios for using blockchain technology at the state level. According to this bill, they plan to use distributed registry technology for storing medical records, conducting banking operations, carrying real estate auctions, etc.

The doomsday warnings about the US housing market are getting it backward
Contrary to the opinion of some doomsayers, lower interest rates are providing a lift to the housing market, particularly for home sales. Mortgage interest rates jumped sharply in 2018. The contract rate on 30-year mortgages jumped almost a full percentage point and was climbing nearly all year. But over the past 12 months, the average mortgage rate has been falling, dropping from 4.54% to 3.77%.

Weekly mortgage refinances spike 37% in one week as rates fall further
Mortgage application volume jumped 21.7% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index.

Recession signal could put more pressure on the Fed to keep cutting rates
A red-flashing recession indicator in the bond market only adds to the pressure the Federal Reserve will face when it meets next month to deliver what markets anticipate will be another rate cut.

Negative Mortgages Set Another Milestone in a No-Rate World
The world's headlong dash to zero or negative interest rates just passed another milestone: A bank in Denmark is paying homebuyers to take out mortgages.

Snapdocs solves the fragmentation challenge of digital closings at scale
"This industry has been promised a digital closing for 20 years, and the truth is that we've had the necessary technology for at least that long. The reason it hasn't been adopted is because getting to digital closings at scale is no longer a technology challenge. It's a fragmentation challenge."

Redfin's Plan to Disrupt Real Estate
Tech-enabled companies such as Redfin and Zillow are using their internet platforms to change the way people shop for homes.

Redvision (DataTrace)

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