Home flips decrease in 2Q

Home flipping rates nationwide declined after a year of increases. Nationally, during the second quarter of 2022, 115,198 single-family houses and condominiums were flipped. That equates to 8.2% of all home sales, or one in 12 transactions…

August renters spent more than one-quarter of incomes on rent

There’s a real issue of rental affordability going on. Renters in August spent an average of 26.4% of their monthly budgets on rent according to Realtor.com’s Monthly Rental Report. At the top of the list of least affordable metros were…

Housing market reaches a “new weird”

A new level of “weird” has entered the housing market, or so says Redfin. According to its latest housing market trend report, home prices are up 1%, yet mortgage rates have hit 6.29%. The result? Reduced buying power. Plus, new listings have taken…

Seattle’s housing market is cooling faster than any other

Seattle is leading the way in cooling housing markets. The West Coast market was pricey even before the pandemic. Now it’s seeing even more affordability backlash from rising mortgage rates. Redfin analyzed the 100 most populous U.S…

Mortgage applications increased last week

Mortgage applications reversed course and rose last week. They were up 3.8% for the week ending September 16 from the prior week. This is according the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey…

Number of million-dollar homes increases over last two years

The last two years have pushed housing prices up. As a result, homes valued at $1 million or more have become more common throughout much of the U.S. On average, million-dollar homes are more common in the nation’s most expensive towns than…

Housing market downturn: What’s on tap for the next phase

We’re in the second stage of the housing market downturn, which outlines three major elements that could shift during this next phase. Fortune journalist Lance Lambert dissects the Federal Reserve rate shifts and their impact on mortgage…

Home values drop again as competition declines

Home values dropped for the second straight month as mortgage rates continue challenging affordability. The typical home value fell 0.3% from July, the largest monthly decrease since 2011. Low-cost markets are still competitive. Prices…

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Home flips decrease in 2Q

Home flipping rates nationwide declined after a year of increases. Nationally, during the second quarter of 2022, 115,198 single-family houses and condominiums were flipped. That equates to 8.2% of all home sales, or one in 12 transactions…

August renters spent more than one-quarter of incomes on rent

There’s a real issue of rental affordability going on. Renters in August spent an average of 26.4% of their monthly budgets on rent according to Realtor.com’s Monthly Rental Report. At the top of the list of least affordable metros were…

Housing market reaches a “new weird”

A new level of “weird” has entered the housing market, or so says Redfin. According to its latest housing market trend report, home prices are up 1%, yet mortgage rates have hit 6.29%. The result? Reduced buying power. Plus, new listings have taken…

Seattle’s housing market is cooling faster than any other

Seattle is leading the way in cooling housing markets. The West Coast market was pricey even before the pandemic. Now it’s seeing even more affordability backlash from rising mortgage rates. Redfin analyzed the 100 most populous U.S…

Mortgage applications increased last week

Mortgage applications reversed course and rose last week. They were up 3.8% for the week ending September 16 from the prior week. This is according the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey…

Number of million-dollar homes increases over last two years

The last two years have pushed housing prices up. As a result, homes valued at $1 million or more have become more common throughout much of the U.S. On average, million-dollar homes are more common in the nation’s most expensive towns than…

Housing market downturn: What’s on tap for the next phase

We’re in the second stage of the housing market downturn, which outlines three major elements that could shift during this next phase. Fortune journalist Lance Lambert dissects the Federal Reserve rate shifts and their impact on mortgage…

Home values drop again as competition declines

Home values dropped for the second straight month as mortgage rates continue challenging affordability. The typical home value fell 0.3% from July, the largest monthly decrease since 2011. Low-cost markets are still competitive. Prices…

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New Zillow tool lets shoppers hide homes in their search

Zillow announced a new search feature that lets shoppers hide homes they're not interested in during their home search, helping them stay organized and save time and energy. Now available on the Zillow app, the "hide homes" tool makes the shopping experience faster,...

Ocrolus launches fraud detection solution

Ocrolus announced the launch of Ocrolus Detect, a comprehensive fraud detection solution for lenders. Detect provides high-quality, decision-ready data that can help lenders minimize risk and prevent losses.  Lenders traditionally perform manual review of...

Staircase announces new lead curation feature in PreApproval tool

Staircase announced a new feature in its PreAppproval tool that allows originators to target and engage motivated borrowers who self-qualify online. Leads Curation leverages data collected from borrowers as they self-qualify using automated verification services. That...

Milo launches first crypto refinance product

Fintech Milo launched the world's first crypto refinance offering and undercollateralized mortgage, the company announced. This new refinance product will let borrowers access U.S. dollars by pledging their crypto assets and their property to cash out up to...

“Riskier” cash-out refis dominated refi originations in Q2

Riskier cash-out refinance loans made up nearly three-quarters of refinance originations in Q2, according to a new analysis by consulting firm Milliman, Inc. The Milliman Mortgage Default Index (MMDI), which shows the latest monthly estimate of the lifetime default...

Tappable equity drops after largest home price drop since 2011

Annual home price growth shifted from deceleration to decline in July as the median home price dropped .77% from June, the largest single-month decline since January 2011, according to Black Knight’s latest Mortgage Monitor Report.  July’s substantial...

Approved Mortgage integrates with SimpleNexus

Approved Mortgage has selected homeownership platform SimpleNexus as its point-of-sale (POS) solution, SimpleNexus announced. The Indiana-based lender will use SimpleNexus’ mobile-first feature set to enhance its services to clients and real estate professionals while...

Staircase launches API offering same-day GSE integration

API marketplace Staircase has launched a new application programming interface (API) that enables lenders and servicers to embed automated underwriting technology into any application and sync to their point of sale and loan origination systems, saving time and money,...

AMOCO Fed Credit Union integrates with Black Knight systems

Texas-based AMOCO Federal Credit Union chose Black Knight's Empower loan origination system and MSP loan servicing software to help prepare for the future growth of originations and to improve its member experience, Black Knight announced. Empower will help the credit...

Ribbon announces new 12-month price lock program

Homeownership company Ribbon announced that it has expanded RibbonReserve, offering first-time homebuyers a 12-month price lock on a new home and providing more time to secure financing at the best possible terms. The new option also allows existing homeowners to buy...

Next Moves

Laila Khan takes new role at Guidance Residential

Laila Khan has been named assistant vice president, community outreach & relations assistant vice president, community outreach & relations at Guidance Residential. Khan has been with Guidance Residential for over six years. She joined the company as account...

Shonda Mullins joins Equifax

Shonda Mullins has been named VP business development, Equifax Digital Alliances at Equifax. Before taking this position, she was director, sales and client success at CreditXpert, a role she held for nearly two years. Mullins has over 20 years of experience in the...

Alicia Brisbane joins PRMG

Alicia Brisbane has been named vice president of TPO sales at Paramount Residential Mortgage Group Inc. (PRMG Inc.). Before joining the company she was with First Guaranty Mortgage Corporation, most recently as vice president, correspondent lending. Her career...

Shannon Clay joins Shellpoint Mortgage Servicing

Shannon Clay has been named SVP, investor services at Shellpoint Mortgage Servicing. Before taking this role, she was SVP, investor accounting for BSI Financial Services. Clay brings a strong track record of performance in executive roles in the mortgage industry....

Donna Bowser named EVP of Operations at AFR

Donna Bowser has been promoted from vice president of operations to executive vice president of operations at American Financial Resources (AFR), a company she joined in January 2021. Before working with AFR, Bowser was VP of operations at Open Mortgage in Austin, TX....

Katharine Loveland named CEO of Volly

Katharine Loveland has been chief executive officer of mortgage technology firm Volly. Loveland, a former professional basketball player, brings a strong track record of executive-level success. Her career includes VP-level roles with Reggora and Accenture, as well as...

Kimberly Donovan joins Floify

Kimberly Donovan has been named national enterprise account executive at Floify. Donovan brings decades of industry experience to her new post. Before joining Floify, she was vice president of client success at Informative Research, a role she held for nearly five...

Amy Brandt named to Board of Directors at Quisitive Technologies

Amy Brandt has joined the Board of Directors at Quisitive Technology Solutions, a Microsoft solutions provider and a provider of payment solutions. Brandt is a member of several boards. She is operating executive director at Serent Capital, a board member at the...

Leora Ruzin joins CMLA Board of Directors

Leora Ruzin has been named to the Board of Directors for the Colorado Mortgage Lenders Association (CMLA). Ruzin brings a strong background in mortgage lending. She is currently senior vice president of lending at Coloramo Credit Union, a position she has held since...

Carlie Smith joins Aloft

Carlie Smith has joined Aloft as a senior account executive. Smith brings decades of mortgage industry experience to her new role. Before joining the company, she was senior account executive at Amrock. Prior to that, she was vice president of appraisal production at...

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