Mortgage Mix: Regulators Issue Warning on Fintech; VP Harris’ AVM Rule Finalized
July, 26 2024
Editor’s Note: The Mortgage Mix is RISMedia’s weekly highlight reel of need-to-know mortgage-industry happenings. Watch for it each Friday afternoon. -A rule to create more standards and quality controls for automated value models (AVMs) that are used in mortgages was finalized earlier this month. The changers were originally championed by Vice President Kamala Harris in…
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Potential Rate Cut in September Still in Play After June Inflation Report
July, 26 2024
The personal consumption expenditures price index (PCE) increased 0.1% in June (slightly up from May’s 0% monthly change) and was up 2.5% from a year ago, according to estimates released by the U.S. Bureau of Economic Analysis on July 26, with the annual rate showing a slight decline from the prior month. The results bode…
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Consumer Sentiment Continues to Fall for Fifth Month Straight
July, 26 2024
Consumers continued to keep their economic hopes in check in July, as sentiment readings continue to slowly decrease. Consumer sentiment fell 2.6% in July, from 68.2 in June to 66.4, according to the University of Michigan’s latest report. This is the fifth straight month of decreases, with a 0.5% decrease in March, a 1.9% fall in…
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Employee Caught in the Middle of CoStar/Realtor.com ‘Data-Theft’ Case Denies Wrongdoing
July, 26 2024
James Kaminsky, the former Realtor.com® and current CoStar Group employee in the middle of a data-theft lawsuit between two real estate portal giants, Realtor.com (owned by Move, Inc.) and CoStar’s Homes.com, on July 25 provided his side of the story in a court filing, writing that while he did access documents and information from Move,…
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Inspiring Future Generations
July, 25 2024
Above, Kimberly Harris Campbell and Kate Reisinger RISMedia’s 36th Annual CEO & Leadership Exchange, set to unfold September 4 – 6 in Washington, D.C., promises to be an unrivaled convergence of industry luminaries and thought leaders—with a star-studded lineup of speakers who demonstrate the depth of expertise and insight crucial to addressing some of the…
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Thoughts on Leadership: The Power of a Morning Routine
July, 25 2024
This week’s blog is sparked by my recent experience at the Mike Ferry Superstar Retreat in Las Vegas, NV—an annual event that not only gathers the crème de la crème of the real estate world but also serves as a potent reminder of the foundational practices that fuel success. Immersed in the electrifying atmosphere of…
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Bay Realty in San Francisco Affiliates With the CENTURY 21 Brand
July, 25 2024
Century 21 Real Estate LLC is fortifying the brand’s presence in the San Francisco Bay area with its latest affiliation of long-standing, multi-office firm Bay Realty, which previously affiliated with the brand in 2004. The company consists of two offices, one just east of San Francisco proper in Berkeley and the other in San Ramon.…
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How to Evaluate Multiple Offers on a House: What to Look for Beyond the Price
July, 25 2024
Evaluating multiple offers on your house can be overwhelming. While the price is crucial, other factors significantly impact the final decision. I have put significant effort into providing the best guidance on how to evaluate an offer to purchase in real estate sales: Key considerations beyond the offer price How financing terms affect the sale…
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HUD Ends Investigation of the Appraisal Foundation With Agreement
July, 25 2024
The Department of Housing and Urban Development (HUD) announced a Conciliation Agreement with The Appraisal Foundation (TAF). TAF is the private organization that sets qualifications and standards for the appraisal profession.
NAR Opposes Rent Cap Proposal
July, 23 2024
The administration's proposal—which requires congressional action—would take away the accelerated depreciation tax provision from housing providers with 50 or more units who raise rents by more than 5% per year.
HUD Charges Appraiser, AMC, and Lender With Discrimination
July, 23 2024
HUD alleges that the appraiser prepared an insupportably low appraisal of a duplex owned by a Black woman in a predominantly White area.
Final Rule on Quality Control Standards for Automated Valuation Models
July, 19 2024
The federal banking regulators and Consumer Financial Protection Bureau (CFPB) released their final rule on quality control standards for automated valuation models (AVMs). The final rule reflects some of NAR’s recommendations. Learn more.
President Biden Announces Rent Cap Proposal
July, 16 2024
The President’s proposal would create a temporary (2-year) change to the Internal Revenue Code (IRC) to incentivize capping rent increases at or below 5% annually. Learn more.
NAR Comments on the Federal Home Loan Bank Core Mission Activities and Mission Achievement
July, 12 2024
NAR submitted comments to the Federal Housing Finance Agency (FHFA) in response to its request for input on Federal Home Loan Bank Core Mission Activities and Mission Achievement.
FHFA Announces New Tenant Protections
July, 12 2024
The Federal Housing Finance Agency (FHFA) announced new resident-centered practice requirements for multifamily properties financed by Fannie Mae or Freddie Mac (the GSEs). Learn more.
FHA Changes 203(k) Rehabilitation Mortgage Insurance Program
July, 11 2024
Learn more about the changes announced by the Federal Housing Administration (FHA) to their 203(k) Rehabilitation Mortgage Insurance Program.
