In light of the jury verdict in the Sitzer/Burnett suit and the terms of the National Association of Realtor’s nationwide settlement agreement of the commission lawsuits, several prominent industry analysts believe Zillow will struggle with its financial performance.On Wednesday evening, during the

When HomeServices of America reached a nationwide settlement agreement last week in the commission lawsuits filed by home sellers, it became the final defendant in the two original commission cases, Sitzer/Burnett and Moehrl, to do so.Just six months ago, when a Missouri jury found HomeServices of A

Longtime reverse mortgage industry professional, advocate and leader Scott Norman has been appointed as the new CEO of the Texas Mortgage Bankers Association (TMBA).Norman is currently serving his fifth consecutive term as co-chair of the National Reverse Mortgage Lenders Association (NRMLA). He als

Industry experts believe mortgage rates will remain higher for longer, attracting borrowers who face life events but not “economic gamers“ to the mortgage market. In turn, this will force some lenders to think out of the box to attain profitability.On Wednesday afternoon, the Federal Reserve announc

We lament over ever-changing rates, changing fees and guidelines. We change companies, processors, assistance and our workspace. Every area and facet of our industry, it seems, moves, and changes with the wind.  It likely is part of what you like about your career. Each day has its own opportunity t

In 1904, the first world’s fair opened in St. Louis. It was there that the world learned how to host a fair and pack on pounds. An ice cream vendor who ran out of cups while working next to a waffle stand had a stroke of genius — he married warm waffles with cold ice cream — giving rise to the ice c

The U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) announced a new policy on Wednesday that will enable mortgage borrowers to “request a re-assessment of the appraised value of their property if they believe that the appraisal was inaccurate or bi

Lawmakers in the U.S. House of Representatives and U.S. Senate are seeking to address the rising costs of living for U.S. seniors, primarily those living on fixed incomes, which would be accomplished by increasing monthly benefits and requiring the Social Security Administration (SSA) to use a diffe

The Federal Reserve’s Federal Open Markets Committee (FOMC) maintained its short-term policy interest rate steady at a range of 5.25% to 5.5% for a sixth consecutive meeting on Wednesday.“The Committee does not expect it will be appropriate to reduce the target range until it has gained greater conf

Guild Mortgage CEO Terry Schmidt speaks last week at The Gathering by HousingWire in Scottsdale, Arizona. Photo credit: AJ CanariaDiscussions about the reverse mortgage product category were not difficult to find this past week in Scottsdale, Arizona, during The Gathering by HousingWire, an event th

California-based mortgage tech firm Blend Labs, which has pursued non-GAAP profitability  since it went public in 2021, announced a $150 million investment on Monday from private equity firm Haveli Investments. Blend will use $145 million of the proceeds to repay existing credit agreements. The rema

The attorney general of Michigan has re-released a consumer alert about the reverse mortgage product category during financial literacy month. The action is designed to inform consumers about the potential pros and cons of taking out these loans, according to an announcement issued by Attorney Gener

eXp Realty recently appointed several new faces to its executive team. Most notably, the brokerage appointed Amy Weaver to the position of senior vice president of the U.S. growth team, while Felix Bravo was appointed to the role of vice president of global growth. Weaver will be supported by three

Housing affordability dipped in March on both a monthly and yearly basis, according to a new report by First American. Affordability fell by 0.1% compared with February, according to the First American Real House Price Index (RHPI). On an annualized basis, affordability fell by approximately 5%. Mea

Rising mortgage rates and a slower housing market than anticipated contributed to the weaker financial performance of the title segments of some of the nation’s largest title firms during the first quarter of 2024. Last week, big four members First American, Old Republic and Stewart all announced th

The weekly volume of new listings is now higher than at anytime last year. It’s still April, so there could be as many as eight more weeks of seller growth in the spring housing market. And seller growth is happening pretty much everywhere across the country, with Florida and Texas leading the way. 

U.S. homeowners today are armed with a record amount of home equity 𑁋 nearly $32 trillion, according to the latest data from the St. Louis Federal Reserve. Many of these homeowners are locked into historically low interest rates post-pandemic, which means they are unlikely to refinance. Indeed, ami

Intercontinental Exchange (ICE) introduced MSP Digital Experience (MSP DX), a conversational user interface designed to interact with the company’s leading mortgage servicing system, MSP.MSP DX provides servicing professionals with an intuitive, dynamic and conversational approach to working within

A coalition of energy- and consumer-focused trade groups lauded the release of new energy-efficiency standards for the construction of new single-family and multifamily homes, which were announced last week by the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Agri