All parties have settled the Sitzer/Burnett suit, so what’s next?
When HomeServices of America reached a nationwide settlement agreement last week in the commission lawsuits filed by home sellers, it became the final defendant in the two original commission cases, Sitzer/Burnett and Moehrl, to do so. Just six months ago, when a Missouri jury found HomeServices of America, Keller Williams and the National Association of Realtors (NAR) liable for colluding to ...
Longtime reverse mortgage leader Scott Norman appointed CEO of Texas MBA
Longtime reverse mortgage industry professional, advocate and leader Scott Norman has been appointed as the new CEO of the Texas Mortgage Bankers Association (TMBA). Norman is currently serving his fifth consecutive term as co-chair of the National Reverse Mortgage Lenders Association (NRMLA). He also works as vice president of field retail and director of government relations at Finance of Am...
Rates at 7% attract different types of borrowers, forcing lenders to rethink profit strategies
Industry experts believe mortgage rates will remain higher for longer, attracting borrowers who face life events but not “economic gamers“ to the mortgage market. In turn, this will force some lenders to think out of the box to attain profitability. On Wednesday afternoon, the Federal Reserve announced its decision to maintain its short-term policy interest rate at a...
The unchanging
We lament over ever-changing rates, changing fees and guidelines. We change companies, processors, assistance and our workspace. Every area and facet of our industry, it seems, moves, and changes with the wind. It likely is part of what you like about your career. Each day has its own opportunity to be unique and come with its own interesting set of circumstances. But none of that reall...
Opinion: Will new changes make houses more affordable?
In 1904, the first world’s fair opened in St. Louis. It was there that the world learned how to host a fair and pack on pounds. An ice cream vendor who ran out of cups while working next to a waffle stand had a stroke of genius — he married warm waffles with cold ice cream — giving rise to the ice cream cone. Here’s the twist: by turning ice cream into a walk-and-eat love a...
The Fed holds interest rates steady — here's what that means for your monthly expenses
The Federal Reserve pushed out rate-cut expectations — here's what that means for your credit card, mortgage rate, auto loan and savings account.
HUD and FHA announce new appraisal bias protections
The U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) announced a new policy on Wednesday that will enable mortgage borrowers to “request a re-assessment of the appraised value of their property if they believe that the appraisal was inaccurate or biased,” according to an announcement from HUD. “The Reconsideration of Value (R...
New bill seeks to expand Social Security benefits for seniors
Lawmakers in the U.S. House of Representatives and U.S. Senate are seeking to address the rising costs of living for U.S. seniors, primarily those living on fixed incomes, which would be accomplished by increasing monthly benefits and requiring the Social Security Administration (SSA) to use a different inflation-calculation formula. The bill, known as the Boosting Benefits and COLAs for Senio...
Contractor Nightmares: 5 Red Flags to Watch For and How to Escape a Bad Hire
What’s easier to find, a unicorn or a rock star contractor? If you asked most value-add real estate investors, the answer would be obvious: “Unicorns, of course.” We all know the inherent […]