Volumes

A record low number of homes for sale have propped up prices, increasing the average home sales price to near record highs.

The addition of 25-year industry vet Darcy Allen bolsters Treliant’s Financial Crimes and Fraud Solutions practice, streamlining the firm’s risk management.

Amid a significant shortage of housing supply in 2022, nearly 33% of Realtors believe a lack of inventory has stopped many Americans from purchasing homes. U.S. housing supply has dropped to the lowest level recorded since 1999, according to the National Association of Realtors.

MortgagePoint speaks with mortgage servicing execs from BOK Financial, Carrington, the NMSA, PHH Mortgage Corporation, and Servbank about the unusual times and unusual opportunities the industry faces midway through 2023.

At the close of Q1 2023, Homeowner Assistance Fund programs made roughly $3.7 billion in payments to more than 318,000 homeowners at risk of foreclosure–a 50% increase over Q4 2022.

“The lack of supply is making it feel almost like 2021 all over again, but higher rates mean bidding wars are happening more in the $500,000 range than the $700,000 range because people can afford less,” said Redfin Agent Jeremy Lucas.

Midwestern and Eastern regions of the nation boasting thriving economies and diverse industries are luring in more individuals and families looking to establish roots, according to Veros’ analysis of Q2 homebuyers.

An upcoming webinar presented by the Five Star Institute and DocMagic will focus on adopting an all-digital mortgage lending process while addressing concerns and building rapport with borrowers during the transition.

HUD makes its largest-ever, single-year investment in fighting homelessness nationwide with its latest round of funding, awarded through the Department’s Continuum of Care Program.

While the nation’s housing marketplace continues to experience instability, a new report from Point2 has found stability in the price, demand, sale, and inventory levels in luxury properties through the first half of 2023.