In the time since Vic Lombardo became president of mortgage services at Remax Holdings over two months ago, the company has “taken a new view of the mortgage opportunity,” Eric Carlson, CEO, said in the third quarter earnings call. Among the units under Lombardo’s purview are Motto Mortgage, which offers mortgage broker franchises, and Wemlo, […]
Remax resets mortgage strategy under new division leader Read More »
John Bell III, the former executive director for loan guaranty service at the Department of Veterans Affairs, has died. His passing was noted in a Facebook post by Rick Bettencourt, president of Veterans Mortgage Brokers, Danvers, Massachusetts. “For the last 10 years John has been a Titan in the VA home loan world,” Bettencourt, who
John Bell III, former VA mortgage program executive, dies Read More »
After hurricanes in Florida, floods in Texas and wildfires in California plagued the United States this year, homeownership worries Americans, a survey released Wednesday showed. More than two-thirds of Americans believe homeownership is riskier now than it was 10 years ago due to climate change and natural disasters, according to a survey conducted by Clever
Climate change increasingly worries potential homebuyers Read More »
Florida and California, two states hit hard by natural disasters, lead the nation in non-renewal rates of homeowners insurance policies last year, a Weiss Ratings study found. Weiss looked at National Association of Insurance Commissioners data for 2024 and also did a comparison with 2018 in 15 disaster-prone states. Which states had the highest share
Home insurers drop California, Florida policies at high rate Read More »
Pending sales of existing US homes stalled in September, suggesting anxiety about the job market kept potential buyers sidelined despite a welcome easing in mortgage rates. An index of contract signings held at 74.8 after climbing a revised 4.2% a month earlier to the highest level since March, according to National Association of Realtors data
Pending home sales stall as labor market concerns build Read More »
The lowest mortgage rates in over a year accelerated refinance activity for the second consecutive week, the Mortgage Bankers Association said. The MBA’s Market Composite Index, a measure of mortgage loan application volume, jumped 7.1% on a seasonally-adjusted basis for the week ending Oct. 24 after four weeks of declining activity. The index increased 7%
Falling rates fuel second week of refi surge Read More »
Home prices gained the least in over two years, slowing for the seventh straight month in August as buyers gained leverage in negotiations and inventory grew. A national measure of prices rose 1.5% from a year earlier, according to data from S&P Cotality Case-Shiller. It was the smallest gain since mid-2023 and followed a 1.6%
US home prices post weakest gain in more than two years Read More »
Publicly traded homebuilders were tested in the most recent quarter by slowing volume and political and economic factors, but proved resilient as they navigated through various challenges. Companies reported shrinking profits but still posted positive numbers, with falling mortgage rates providing some boost, even as consumer sentiment languishes. Although the cloud of tariff policies continues
Profits up while sales fall: How homebuilders did it Read More »
With National Guard troops in the streets and federal workers furloughed, house hunters in Washington are stepping back. The number of prospective buyers touring properties in the city last week fell 8.5% from a year earlier, according to data from Bright MLS, a regional multiple listing service. It’s the eighth straight weekly decline. READ MORE: Mortgage
‘People are stressed’: DC house hunters rattled by shutdown Read More »
U.S. homeowners saw their available equity pull back in the third quarter, contributing to an upward creep in the percentage of underwater mortgages, according to a new report. Approximately 2.8% of mortgaged properties in the country were considered seriously underwater during the quarter, maintaining a year-long trend, according to real estate data provider Attom. The
Housing market sees downward creep in home equity levels Read More »