Industry News

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Fitch Raises 2024 Ratings for Housing Insurers
Fri, 01 Dec 2023 23:26:30 +0000
“We expect unemployment to rise modestly next year, which will likely lead to an equivalent rise in borrower defaults,” saidChris Grimes, a Senior Director at Fitch Ratings. “However, strong borrower credit characteristics and favorable home equity build-up for the majority of homeowners should moderate the frequency and severity of ultimate mortgage insurance claims.”

Homebuying Will Remain Expensive for the Foreseeable Future
Fri, 01 Dec 2023 23:02:29 +0000
According to a new report, the market will continue to be characterized by highly competitive buyers trying to snap up any and all available inventory.

New Home Listings Experience Largest YoY Increase in Over Two Years
Fri, 01 Dec 2023 22:52:02 +0000
“Mortgage rates are dropping due to easing inflation and investors betting the Fed will cut interest rates sooner than expected," said Redfin Economics Research Lead Chen Zhao. “Declining rates, along with a sizable year-over-year increase in new listings, are leading to more favorable conditions for some buyers."

Florida Bar Publishes Advisory Opinion Regarding AI
Fri, 01 Dec 2023 20:26:46 +0000
Attorney Roy Diaz takes a look at the Florida Bar’s Proposed Advisory Opinion regarding a lawyer’s use of generative artificial intelligence, as oversight may be drafted to ensure compliance with ethical standards.

Pending Sales Dropped in all Regions YoY
Thu, 30 Nov 2023 23:21:18 +0000
Month-over-month, contract signings intensified in the Northeast but diminished in multiple other U.S. regions. First American Deputy Chief Economist Odeta Kushi commented, “While there remains quite a bit of demand for homes on the sidelines, you can't buy what's not for sale, even if you can afford it.”

Organizations Call on FHFA to Lower Housing Costs for Renters, Homeowners
Thu, 30 Nov 2023 23:12:50 +0000
In a letter, nearly 80 consumer, energy, housing, health, manufacturing, and environmental organizations called on the Federal Housing Finance Agency to help lower costs and make housing safer and healthier, in addition to suggesting requirements that all new homes with mortgages backed by Fannie Mae and Freddie Mac meet updated energy codes.

Many Americans Aren’t Optimistic About 2024’s Housing Market
Thu, 30 Nov 2023 22:59:09 +0000
While the housing market remains unpredictable, a surprising percentage of surveyed Americans report wanting it to crash in 2024, according to a new LendingTree study, as many believe that might be the only way they could afford a home.

Servicer Prevails After a Challenge on Pre-Suit Compliance With HUD Regulations
Thu, 30 Nov 2023 17:00:47 +0000
Attorney Jamie Juster of McCalla Raymer Leibert Pierce discusses a recent case where the borrower argued that their lender failed to comply with HUD regulations by not conducting a face-to-face meeting to discuss loss mitigation options prior to foreclosure.

Migration Data Names Nashville as Latest Housing Hotspot
Wed, 29 Nov 2023 23:33:29 +0000
The tech hub of Austin, Texas, has been a beacon of migration during the pandemic, but tastes are changing, leading to Nashville becoming a destination hotspot for the first time since 2021.

Report: Foreclosure Activity Trends Increasing
Wed, 29 Nov 2023 23:19:06 +0000
“The silver lining of this trend is that it’s usually local or regional investors seeking to purchase commercial REO properties, often to launch new concepts or businesses,” said Michael Krein, President of the NRBA. “They keep the community moving forward by getting these properties back into the market and retail sectors.”