Mortgage businesses at Wells Fargo, JPMorgan Chase and Bank of America are now only a fraction of what they were in 2022. As a group, the trio originated about $80 billion in mortgages in 2023, down from nearly $218 billion the prior year – a $138 billion decline (63%). The downsized volume reflects two equally important […]
Guaranteed Rate has introduced a new feature that allows sellers working with a G-Rate loan officer to pay a fee that locks in a permanently discounted mortgage rate for a buyer. Known as “RateReduce Sell,” it’s a major enhancement to the existing RateReduce buydown program, in which sellers have paid to temporarily buy lower mortgage […]
Agents and brokers in Colorado will soon be able to view listings and share their own listings, with real estate professionals in four other metro areas. REcolorado, the state’s largest multiple listing service, announced new data sharing partnerships with four other MLSs on Thursday. The Colorado MLS now has partnered with First Multiple Listing Service […]
The value of all residential real estate worldwide is approximately $200 trillion. Of this, the U.S. accounts for approximately 23%. Every year, transaction volume in the U.S. exceeds $1.5 trillion. The numbers are staggering so it is no surprise that residential proptech is a heady market, capturing the imagination of entrepreneurs and institutions alike. I’ve been involved […]
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In the lead up to the Sitzer/Burnett real estate commission trial, the National Association of Realtors expected to prevail. “I am feeling cautiously optimistic and that is because I think that we will, in terms of the litigation, be able to convince a panel of jurors who are consumers that the way that the transaction […]
