According to the Realtor.com Monthly Housing Trends Report for December, inventory closed out the year up by 55% but remains below historic levels.
Read More »HUD Judge Orders Texas Landlords to Pay Discrimination Damages
HUD has announced three Plano, Texas landlords will pay damages, civil penalties, and attorney’s fees totaling $140,649 for violating the Fair Housing Act after refusing to rent to a Black woman because of her race.
Read More »December Foreclosure Filings Double Year-Over-Year
Per an ATTOM report, foreclosure filings hit 324,237 in December 2022, up from 151,153 in December 2021. This pushed the foreclosure rate from 0.11% in December 2021 to 0.23% in December 2022.
Read More »Rent Growth Continues to Slow
Providing context, however, Redfin Economics Research Lead Chen Zhao observed that, “While [rents have] cooled significantly from their peak, it still costs the typical renter 20% more to take on a new lease than it did two years ago.”
Read More »HUD Initiative Leverages Further Effort Towards Eliminating Appraisal Bias
The Department of Housing and Urban Development has announced a new process for homeowners to review their appraisals if they feel the results have been unfairly biased.
Read More »Marianne Sullivan Appointed Sagent COO
A member of the Board of Directors since 2020, Marianne Sullivan’s new role will involve overseeing the modernization of the company’s mortgage servicing sector.
Read More »Condos Becoming an Alternative Trend for Homebuyers
After increased housing demand drove home prices to historic highs, homeownership remained unattainable for many, with some homebuyers turning their attention toward more affordable options like condos.
Read More »Housing Price Forecast Turns Negative
Eric Fox, Chief Economist at Veros, commented, “This decrease to an average depreciation of -0.5% over the next 12 months is the first time in over a decade that Veros’ average house price forecast has gone negative."
Read More »CFPB Proposes Registry of Financial Contract Clauses
The new proposed rule would require nonbank financial companies to register their use of contract terms and fine print that seek to waive or limit consumer rights and legal protections.
Read More »Wells Fargo Stepping Back From Mortgage Market
Wells Fargo has announced the move to shrink its mortgage portfolio and close its correspondent business. Going forward, WF will now offer home loans to existing bank and wealth management customers and borrowers in minority communities.
Read More »