Single Family Housing Starts Dip in April

New government data shows U.S. single-family homebuilding and permits fell in April 2024, amid a resurgence in mortgage rates, but new construction remains supported by an acute shortage of houses for sale. Single-family housing starts, which account for the bulk of homebuilding, slipped 0.4% to a seasonally adjusted annual rate of 1.031 million units last month, reports the Commerce Department's Census...

Private equity and insurance companies piling into residential mortgages

After two years of limited demand, private equity and insurance companies are increasing their allocations to single family residential mortgages. This increased flow of funds appears to be driven by strengthening macro factors that favor residential mortgages over other yield assets such as commercial real estate (CRE) and commercial (C&I) loans. These strong fund flows are resulting in tighter credit...

NEXA to give 100% of commission split to loan officers 

NEXA Mortgage, the largest mortgage brokerage firm in the U.S., will pay its loan officers 100% of the commission splits “without any per-file fees or other hidden fees,” according to co-founder and CEO Mike Kortas.  NEXA usually pays loan officers 220 basis points (bps) out of 275 bps on most loans. However, moving forward, it will allow LOs to access the remaining funds — the 55-bps difference...

Off-the-grid deals: Distressed property trends and market insights

In a supply-constrained housing market, even landing a deal at foreclosure auction has become challenging, but those deals tend to be more readily available in markets or neighborhoods that are off the beaten path. “It’s oddly enough in states where people are leaving,” said Florida-based real estate investor Paul Lizell of the markets where he is more focused on acquiring investment properties in...

9 tips for home buyers in non-disclosure states

For many, buying a home is a complex process, and navigating the real estate market’s rules and regulations can be tricky, especially in states where property sale prices remain a secret. Buying a home in a non-disclosure state, where sale prices are not available to the general public, presents a unique set of challenges and requires home buyers to be more proactive in gathering information.  With...

Chopra says he is ‘open to’ reviewing the LO comp rule

Rohit Chopra, director of the Consumer Financial Protection Bureau (CFPB), is aware that some loan officers are taking creative — and, as detailed in a recent HousingWire investigation, often illegal — approaches to winning business. And he would be willing to reexamine the decade-old rule that prohibits LOs from misclassifying lead sources to lower their own compensation, although it hasn‘t been a...

This $5.5M Architectural stunner in Palm Springs is a turnkey luxury retreat

A newly completed architectural masterpiece has recently landed on the market in Palm Springs for $5.495 million. And it pairs a million-dollar location in the heart of Palm Springs with eye-catching design — both inside and out! Nestled within the exclusive gated community of ONE Las Palmas, this brand-new desert oasis (completed in 2023) is a one-of-a-kind property. From its unique curvilinear...

26 Jaw-dropping Miami-area mansions that will make you want to move to Florida

If you’ve ever dreamt of waking up to the sound of waves gently crashing on the shore or enjoying a sunset from your own backyard oasis, then Florida might just be your paradise. Known for its endless summers and crystal-clear waters, the Sunshine State boasts some of the most stunning properties in the country. From the vibrant shores of Miami to the tranquil beaches of the Gulf Coast, Florida offers...

Rare $3.3M Storybook house in LA is a magical time capsule filled with salvaged treasures

Los Angeles is known for its eclectic mix of architectural styles, but every so often, a property comes along that truly captures the imagination. Recently listed for $3.3 million, a rare storybook house in Pacific Palisades offers a unique blend of fantasy and historical charm. Originally built in 1930, the home is a whimsical mix of storybook architecture infused with Spanish, Art Deco, and old-world...

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