America’s Home Affordability Issues Worsen in Mid 2024

According to ATTOM's newly released second-quarter 2024 U.S. Home Affordability Report, the median-priced single-family homes and condos remained less affordable compared to historical averages in 99 percent of counties. This trend, which began in early 2022, shows that home ownership now demands historically large portions of wages nationwide due to high residential mortgage rates and elevated home...

CHLA calls on CFPB to take action against trigger lead calls

The Community Home Lenders of America (CHLA) on Monday submitted a letter to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra, urging the agency to more forcefully go after trigger lead solicitations. To cement the point, CHLA is calling such solicitations “junk calls,” echoing the language of the campaign the Bureau has waged against “junk fees.” The letter cites three specific...

Housing market sees more price cuts as inventory continues to grow

Nationally, the housing market indicators have been slow for several months now. There have been a few markets; however, that have defied the national trends where inventory has stayed tighter and demand keeps rolling in. Available inventory of unsold homes in the U.S. is 40% more now than last year, but some markets are just now starting to lift beyond the pandemic lows.  It was the second half of...

NRMLA president talks HMBS 2.0 term sheet and its potential impact

At the National Reverse Mortgage Lenders Association (NRMLA) Eastern Regional Meeting in May, Acting Ginnie Mae President Sam Valverde said that the government-owned company planned to release a term sheet for a newly proposed Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program sometime in the next month. After the industry’s secondary market was rocked by the collapse of Reverse...

Treasury Dept. proposes rule to expand oversight of homes purchased near military facilities

The U.S. Department of the Treasury on Monday announced that it has issued a notice of proposed rulemaking (NPRM) to expand the Committee on Foreign Investment in the United States (CFIUS)’ authority to review real estate transactions near military installations by foreign buyers. CFIUS is an inter-agency government committee that includes the Departments of Treasury, Justice, Homeland Security,...

Owning Manhattan? How much business SERHANT.’s agents really do

Since launching in late June, Ryan Serhant’s latest reality TV venture “Owning Manhattan” on Netflix, has become quite the phenomenon. Despite debuting on June 28, the show cracked Netflix’s top-10 most streamed shows in the U.S. for the week ending on June 30. The show stars Serhant, who is no stranger to reality TV, having spent a decade starring in Million Dollar Listing New York, among other...

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