Deran Pennington, a former Movement Mortgage top sales executive sued for poaching by the lender, filed a counterclaim alleging that Movement breached the contract by failing and refusing to pay his due compensation. In total, he asks for about $13 million. In July, HousingWire reported that Pennington and two other top sales executives – Matt Schoolfield and […]
The rising cost of homeowners insurance is weighing more heavily on American homeowners and buyers, according to a survey published Wednesday by Mphasis Digital Risk, a technology services company serving the residential real estate lending industry. The nationwide survey received 1,634 responses from a pool of homeowners and non-homeowners. The vast majority of respondents (90%) […]
Reverse mortgage servicing company Celink is seeking the dismissal of a lawsuit alleging that it had added unlawful servicing fees to reverse mortgage loans alongside now-bankrupt lender Reverse Mortgage Funding (RMF). In response to the recent recommendation by a magistrate judge against the dismissal of Dancy-Wilkins v. Compu-Link Corporation, the servicer said that the recommendation […]
Housing experts expect that a boost in apartment inventory in 2024 will dampen rent growth. However, affordability woes will persist. Commercial property firm CBRE estimates that rent prices will only grow 1.2% this year, bringing the vacancy rate above the pre-pandemic level, the Wall Street Journal reported. However, the occupancy rate will remain above 94%, […]
Real estate agents are optimistic about the housing market and working to implement buyer agency agreement as we head into 2024, according to the RealTrends Q1 2024 AgentPulse survey. The survey, which was conducted between the end of November and the end of December 2023, garnered 136 respondents, with 28 from the Northeast, 26 from […]
A secondary school teacher in Colorado makes on average just under $63,000, according to the Bureau of Labor Statistics. If a Colorado teacher making the average salary had $20,000 to put towards a down payment and were willing to spend 30% of their pre-tax salary on their mortgage payment, she could afford a house that […]
The new year is bringing some major changes to Compass CEO Robert Reffkin’s compensation plan. According to a document filed last week with the Securities and Exchange Commission, Reffkin is relinquishing $25 million in performance-based restricted stock unit awards in exchange for a $7 million cash bonus. In addition, his base salary is jumping up […]
Mortgage demand fell over the holidays despite declining mortgage rates. Mortgage applications decreased 9.4% for the week ending Dec. 29 compared to two weeks earlier, according to data from the Mortgage Bankers Association (MBA). The 30-year fixed mortgage rate closed 2023 at 6.76%, more than one percentage point lower than its October peak of 7.9%, […]
What should you avoid saying or doing on a listing presentation? Whether you’re presenting to a good friend, a referral client or a colder lead, there are some universal mistakes you must avoid if you want to take the listing. The good news is that all of these things are easy to remember: 1. Don’t […]
Valuation in the residential brokerage industry has some characteristics that are unique when compared to other industries and businesses. First, the business of residential brokerage is highly dependent on the recruiting, retention and production of independent contractor sales agents. Brokerage firms are not producing goods on a factory line — there are no warehouses holding […]
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A bill that will reduce statewide property taxes for Texas homeowners by roughly $18 billion went into effect Jan. 1. The new law passed with 83% of the vote in November, according to the Texas Tribune. “The measure raised the homestead exemption—the amount of money a homeowner can take off the value of their house […]
2023 is in the rearview mirror — a year of tumult, reduced volume and a wave of industry exits and consolidations. While most have their eyes on the horizon, HousingWire’s dedicated reverse-centric publication, Reverse Mortgage Daily (RMD), will look back one more time at a year of challenge. Here, RMD takes stock of three of […]
Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. From Bethesda and Towson to Havre de Grace and Silver Spring, it’s now easier than ever to complete the required 60 hours of real estate prelicensing classes from the comfort of your […]
Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. Texas residents interested in becoming a real estate agent must first complete 180 hours of approved coursework to be eligible to sit the state licensure exam. That’s a longer program than in […]
Vetted by HousingWire | Our editors independently review the products we recommend. When you buy through our links, we may earn a commission. Ready to get your real estate license in Pennsylvania? You’ll want to enroll in one of the best Pennsylvania real estate schools to gain the skills and knowledge you’ll need to ace […]
New York-based nonbank mortgage lender RealFi (formally known as Residential Home Funding Corp.) laid off employees in December and did not issue their last paychecks or provide a severance package, former workers told HousingWire. The company’s executives held a conference call with employees on Dec. 15, notifying them about the job cuts because of a […]
