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Posted Date: Monday, July 1, 2024
In the wake of the Supreme Court’s decision to overturn Chevron, a case providing for the deference to agency interpretation in situations where the legislature’s intent is considered ambiguous, experts in the real estate and title industries continued to discuss the potential impact this will have on regulatory enforcement.
In a blow to the power held by the executive branch, the U.S. Supreme Court delivered its opinion on Friday, holding the Administrative Procedures Act requires the judiciary to exercise independent judgment and cannot defer to an agency interpretation “simply because” a statute is ambiguous.
Read on for more details.
Posted Date: Monday, July 1, 2024
A senior partner from STRATMOR Group shared his thoughts as to why the next refinance wave might not be the boon some lenders believe it will be.
“I’ve talked with many lenders who believe at the core of their beings that as soon as the next wave of refinances hits the business, all of their problems will go away,” he said. “But that isn’t guaranteed.”
Read on for more details.
Posted Date: Monday, July 1, 2024
May’s pending home sales saw another slip in May, with month-over-month gains and losses split across the four regions.
The National Association of Realtors’ chief economist stated this information reveals the market is at an “interesting point” while demand decreases, and inventory continues to grow.
Read on for more details.
Posted Date: Monday, June 24, 2024
Existing home sales saw a slight dip month-over-month in May, a trend continuing from the month before, while the median existing-home sales price hit a record high, according to the National Association of Realtors’ report.
News of increased housing supply was marked as “good news” for consumers looking to see more properties before making purchasing decisions.
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Posted Date: Monday, June 17, 2024
Fannie Mae’s Home Purchase Sentiment Index set a new record when it decreased to 69.4 in May, as consumers’ responses to whether it was a good time to buy a home dropped to the lowest recorded in the survey’s history. Affordability was the most cited reason consumers stated it was a “bad time to buy.”
“While many respondents expressed optimism at the beginning of the year that mortgage rates would decline, that simply hasn’t happened, and current sentiment reflects pent-up frustration with the overall lack of purchase affordability,” Fannie Mae Senior Vice President and Chief Economist Doug Duncan said.
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Posted Date: Thursday, June 13, 2024
In an effort to more precisely and definitively explain why mortgage lending in formerly redlined neighborhoods continues to lag behind predominantly white areas, the National Community Reinvestment Coalition (NCRC) compiled an evidence-based report examining the obstacles to homeownership that still exist for people of color.
The NCRC report attempted to reconcile flaws present in existing redlining data, such as inconsistent reporting categories and mismatched demographic designations, and present it with proper context and clear explanations.
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Posted Date: Monday, June 10, 2024
According to ATTOM’s vacant property and zombie foreclosure report for the second quarter, the count of “zombie” homes – those the data curator describes as properties deemed vacant and “stuck” in the foreclosure process – has decreased both quarter-over-quarter and year-over-year.
According to the report, this dip in zombie properties may be because the housing market “remains buoyed” by 12 years of price increases.
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Posted Date: Monday, June 10, 2024
Republic Bank and Trust Co. and Snapdocs announced they are partnering in an effort to accelerate the bank’s eClosing adoption, with plans to increase productivity and efficiency across Republic’s entire loan portfolio.
Republic stated it selected Snapdocs as its partner because of the digital closing provider’s “proven expertise” in driving eClosing adoption.
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Posted Date: Thursday, June 6, 2024
April’s pending home sales dropped in all four major regions month-over-month and year-over-year, the National Association of Realtors’ numbers indicated.
The trade organization’s chief economist said rising interest rates in April were the cause of “dampened” homebuying, even though there was more inventory for buyers to peruse.
Read on for more details.
Posted Date: Thursday, May 30, 2024
Intercontinental Exchange, Inc.’s (ICE) report on fee cures and their impact on profitability revealed these expenses are “exceedingly common” and add a considerable amount to the cost of loan production.
In addition to identifying the problem, the whitepaper also offered suggestions to mortgage lenders on how to mitigate these expenses.
Read on to learn how lenders could recover more than $1.2 million for every 1,000 loans produced.