A flurry of appeals of a federal judge’s final approval of the landmark National Association of REALTORS®’ (NAR) $418 million commission lawsuit settlement were filed with the Eighth District Court of Appeals days after the ruling, indicating the legal fight is far from over, according to new court documents. Although U.S. Judge Stephen R. Bough…
Homebuyers just got an extra boost in borrowing power after the Federal Housing Finance Agency (FHFA) increased conforming loan limits to $806,500 for single-unit properties, the federal regulator said Tuesday. The FHFA said the new conforming loan limits for mortgages backed by Fannie Mae and Freddie Mac represent a $39,950 increase from 2024, reflecting continued…
Class-action plaintiffs in the $418 million landmark settlement with the National Association of REALTORS® (NAR) over real estate commissions finally spelled out specific prohibited real estate practices after a law professor’s latest objection to the settlement forced them to clarify their position. Tanya Monestier, a law professor at the University at Buffalo, doesn’t technically have…
Above, Matty Epstein, FBS director of MLS Sales, showcasing FBS + the Flexmls Platform at the 2-24 Clareity Conference in Scottsdale, Arizona. During the last four decades, Financial Business Solutions (FBS) has established itself as the go-to authority in serving Multiple Listing Service (MLS) clients. They’ve achieved this with a sharp focus on helping the…
Keller Williams was the target of an attempted phishing attack on its Command platform it confirmed on Tuesday, forcing the company to roll out multi-factor authentication (MFA) as an added security measure. This comes just days after news broke of a similar successful security breach of a mortgage lender that compromised more than 170,000 accounts.…
Global real estate brokerage eXp announced mixed financial results for the third quarter of 2024, with revenue up 2% year-over-year but a net income loss of $6.5 million, mostly due to $18 million in antitrust settlement legal expenses, the company reported during an earnings call Thursday. However, eXp’s adjusted net income reached $7.8 million, a…
As Trump’s victory over Democratic candidate Vice President Kamala Harris became apparent on Wednesday, bond markets reacted sharply. The benchmark 10-year Treasury yield jumped to 4.479%, its highest level since July, according to news reports. Mortgage rates responded in kind, with the average 30-year fixed rate rising to 7.13% on Wednesday, up nine basis points…
The aging of the baby boomer generation and a surge in immigration will shape the future household growth in the U.S., according to new projections from the Joint Center for Housing Studies (JCHS) at Harvard University. In a presentation, “The Decades Ahead: Projecting Household Growth and New Housing Demand in 2025-2045,” JCHS Senior Research Associate…
DENVER, Colo.—Doom-and-gloom headlines about the U.S. economy have been everywhere. But compared to the rest of the world, the U.S. is exceeding expectations as other global superpowers struggle to find their economic footing, renowned economist Mohamed El-Erian said Monday at the Mortgage Bankers Association Annual Conference & Expo in Denver. El-Erian, president of Queens’ College…
DENVER, Colo.—The Federal Housing Finance Agency (FHFA) and the U.S. Department of Housing and Urban Development (HUD) announced Monday the expansion of public appraisal data to include Federal Housing Administration (FHA) loans. That’s according to Naa Awaa Tagoe, deputy director for the Division of Housing Mission and Goals at FHFA, who shared the news Monday…
For those interested in reducing their global footprint, there are many ways real estate teams can contribute beyond the basics like putting an office recycle bin out. Read more.
