Veteran mortgage executive James Seely has sued Guild Mortgage for allegedly failing to pay $750,000 in compensation after terminating his employment for cause by “manufacturing out of whole cloth spurious claims of Mr. Seely not working full time,” according to a recently filed lawsuit. “While we do not comment on pending litigation, Guild’s long-standing reputation […]
In my previous article, we discussed the importance of re-evaluating reverse mortgage marketing to “seniors” by dividing the current demographic into two groups: members of the post-World War II generation and baby boomers. This understanding informs our approach to marketing and sales, ensuring that we see and hear our customers fully. In turn, this allows […]
Proptech company RealReports, formerly known as BHR, has successfully secured $2 million in seed funding. TTV Capital, Moderne Ventures, Erez Capital and other venture capital firms led the round of investment. With this capital infusion, the company aims to accelerate its product development, grow its team and pursue market penetration with real estate brokerages, MLS […]
Mortgage rates are back up over 7% this morning on the back of strong economic growth data. When the economy and job growth are stronger than expected, the bond market assumes that fewer rate cuts are coming. The 10-year bond yield jumped back over 4% and that pushes mortgage rates higher too. Mortgage rates are […]
Last year was largely a good one for the nation’s homebuilders, which were able to offer rate buydowns to attract more clients while maintaining double-digit profit margins. Additionally, the competition from existing home sellers was somewhat absent. An estimated 668,000 new homes were sold in 2023, 4.2% more than the figure of 641,000 in 2022, […]
Commission lawsuit defendant HomeServices of America is asking the U.S. Supreme Court to hear its argument that the Eight Circuit wrongly rejected arbitration agreements with unnamed class members in the Sitzer/Burnett commission lawsuit. In late October 2023, a Missouri jury found HomeServices of America, as well as Keller Williams and the National Association of Realtors, […]
By 2034, an estimated one in five residents of the state of California will be age 65 or older. While this won’t lead to a “silver tsunami” when it comes to a flood of housing inventory, the impacts of an aging population are difficult to ignore. These shifting dynamics are causing the California state government […]
Recent market trends — including an improvement in mortgage rates, housing affordability and potential refinance opportunities — suggest positive signs for the real estate market this year, according to February’s Mortgage Monitor report from Intercontinental Exchange (ICE). Mortgage rates held at 6.71% as of Jan. 24, down more than a full percentage point since their […]
Freddie Mac will offer a $2,500 credit for very low-income purchase borrowers to help with down payment and closing costs amid elevated interest rates and low housing supply. Effective March 1, the credit will be available for homebuyers earning 50% of area median income (AMI) or less through Freddie Mac’s Home Possible and Housing Finance […]
One of the passions that has spanned my career in its entirety is creating exceptional experiences — for agents and their clients, our brokerage staff and anyone who interacts with our brand. At The Agency, where I serve as president, one of our core values is ensuring quality at every touchpoint — in our marketing, […]
There was rampant speculation after the Federal Open Market Committee (FOMC) meeting last week about the timing and number of interest rate cuts this year. In a follow-up interview on 60 Minutes on Sunday, Federal Reserve Chairman Jerome Powell did not sound like someone who has pivoted. In fact, Powell believes the Fed can wait […]
