The Joseph Group joins Douglas Elliman Realty
Luxury developer Joseph Design Build’s in-house realty group The Joseph Group, joined independent residential real estate brokerage Douglas Elliman Realty, the firm announced on Tuesday. The Joseph Group’s three-person team, formed in 2020, will operate from the Austin-based Joseph Design Build headquarters. “Their expertise in the Austin luxury market will be an invaluable asset to the […]
Florida tops relocation choices for homebuyers
The U.S. housing market has been affected by high mortgage rates, inflation and an unstable economy this year, deterring the number of potential homebuyers and sellers. A new Redfin report says in the months of August, September and October, 24.1% of homebuyers buying homes in the U.S. wanted to move to new metros and relatively […]
Opinion: Dating the rate makes for a toxic relationship
“Date the rate, marry the house” is perhaps the most used phrase in mortgage and real estate marketing in markets like today, where interest rates are in flux. It should come as no surprise, as interest rates are moving higher and faster than at any time in recent memory. With that increase came a near-instant slowing […]
NAMB launches roadshow with Freddie Mac and Rocket
The National Association of Mortgage Brokers (NAMB) announced a series of roadshows in partnership with Freddie Mac and Rocket Pro TPO, starting Dec. 8 in St. Louis, Missouri. The events will feature speakers focused on professional development for loan originators to grow their business and what is likely to happen in the next Congress that […]
Mortgage demand dropped last week despite a decline in rates
Mortgage rates dropped last week, but it wasn’t enough to spur mortgage demand. The market composite index, a measure of mortgage loan application volume, declined 0.8% for the week ending November 25 after rising 2.2% from the previous week, according to the Mortgage Bankers Association. The index fell by a whopping 67.8% compared to the […]
$1 million conforming loan limit reignites affordability debate
The conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac will pass the $1 million mark for the first time in 2023, reigniting a debate about the government’s role in the mortgage market and its persistent affordability challenges. Meanwhile, desperate for volume in a high-rate environment that’s pushed borrowers to the sidelines, […]
The war for top talent and why LOs move shops
Given the market contraction and numerous layoffs in the industry, it may be surprising to think that loan officer recruitment and retention could be a focus for some lenders and independent mortgage banks right now. But due to the reduction of volume, it’s extremely important for lenders and IMBs to be able to replace that […]
Study reveals alarming inequality trend for Black, Native American borrowers
Mortgage fairness for Black and Native Americans is no better today than it was 30 years ago, according to a new mortgage fairness report. The report, issued by “fairness-as-a-service” solution firm FairPlay AI, was based on a study of more than 350 million mortgage applications from 1990 to 2021. The applications were obtained from public […]
The Troubles with the Decline of Community Colleges
The Los Angeles Times recently reported that the Golden State’s community college enrollment dropped to its lowest level in 30 years. The report notes that since pre-pandemic 2019, the state’s 115 campuses have lost about 300,000 students, a troubling 18 percent drop that could lead to significant funding cuts if enrollment does not increase. While […]