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Posted Date: Thursday, May 2, 2024
In a report issued by the National Fair Housing Alliance and FairPlay AI, a new algorithmic fairness methodology known as distribution matching was tested as a possible way eliminate bias in mortgage underwriting and pricing outcomes.
FairPlay AI CEO and founder Kareem Saleh said the report strongly indicated distribution matching could improve mortgage approval rates for Black and Hispanic homebuyers by 5-13 percent with no corresponding increase in risk.
Read on for more details.
Posted Date: Thursday, May 2, 2024
March’s pending home sales experienced an uptick in three of the four major regions month-over-month, the National Association of Realtors’ numbers indicated.
The trade organization’s chief economist said the pending sales index for March marked the best pending sales performance in a year.
Read on for more details.
Posted Date: Monday, April 29, 2024
Florida Agency Network and Closingsuite.com CEO Aaron Davis and Chief Operations Officer Mike LaRosa, as well as The Duncan Duo Team at LPT Realty CEO Andrew Duncan, will share their insights Day One at the National Settlement Services Summit (NS3) in Naples, Fla., on when an affiliated business arrangement (AfBA) may be the next right step for title or real estate agents, how to build the operation, and what pitfalls to avoid in today’s environment.
NS3 is being held May 21-23, at the Naples Grande Beach Resort in Naples, Fla. “Building a Lucrative AfBA” will take place on Tuesday, May 21.
Read on for more details.
Posted Date: Monday, April 29, 2024
In its commentary for April, Fannie Mae’s Economic and Strategic Research Group stated the interest rate environment appears to be in a “higher for longer” period and revised its forecast on the number of interest rate cuts for 2024.
The group also gave its forecast for home sales.
Read on for more details.
Posted Date: Monday, April 22, 2024
The National Fair Housing Alliance and almost 300 housing, civil rights, and other interested organizations sent a letter requesting the Biden-Harris administration “immediately release” the affirmatively furthering fair housing rule proposed by the U.S. Department of Housing and Urban Development.
The rule was released for comment in February 2023, with the public comment period ending April 24, 2023, after receiving one extension. The final rule has yet to be released, according to the Office of Information and Regulatory Affairs’ website.
Read on for more details.
Posted Date: Monday, April 22, 2024
Existing home sales saw slight contraction month-over-month as well as year-over-year last month.
The National Association of Realtors’ chief economist said home sales have stalled because interest rates have not made “any major moves.”
Read on for more details.
Posted Date: Thursday, April 18, 2024
Amidst allegations of sexual harassment, attempts at blackmail, and a jury finding of antitrust violations levied against the National Association of Realtors over the last year, two real estate professionals have started to offer an alternative trade group for real estate agents.
Mauricio Umansky and Jason Haber founded the American Real Estate Association with the goal to provide “unflinching advocacy and unrelating organizing on behalf” of its members.
Read on for more details.
Posted Date: Thursday, April 11, 2024
Over a quarter of recent homebuyers had no idea how much their real estate agent was paid, with some respondents also stating they had no idea how the amount was determined or who paid the agent, according to a report published by Redfin.
“Home sellers often have a candid conversation about fees with their agent before signing an agreement to work together. Buyers would benefit from doing the same,” Redfin’s chief economist said.
Read on for more information on the study.
Posted Date: Monday, April 8, 2024
Florida Agency Network Operations Manager Andrea Somers and Chief Administrative Officer/President Amy Gregory shared with RESPRO 31 – One Stop’s audience how to build an affiliated title operation, one step at a time.
RESPA News took a front seat for a discussion on staffing, vendor relationships, centralization, and technology considerations that can make or break a joint venture.
Read on for more details.
Posted Date: Monday, April 8, 2024
Consumers reported being more optimistic for both homebuying and home selling, despite indicating a more negative outlook on whether mortgage rates will decrease over the next 12 months.
“With the historically low rates of the pandemic era now firmly behind us, some households appear to be moving past the hurdle of last year’s sharp jump in rates, an adjustment that we think could help further thaw the housing market,” Fannie Mae’s chief economist said about the results of March’s Home Purchase Sentiment Index.
Read on for more details.