In mid-November, the FBI released its 2022 Report to Congress on Business Email Compromise (BEC) and Real Estate Fraud. According to the report, the Internet Crime Complaint Center (IC3) received more than $2.4 billion in BEC-related complaints in 2021, upContinue Reading
A spokesman confirmed that Homepoint laid off another 100 employees in four states in the two months following a series of layoffs that cut nearly 500 jobs. The reduction was due to the slowdown and volatility in the housing marketContinue Reading
The housing market outlook is bleak next year and is expected to recover in 2024-2022. Fannie Mae’s Economic and Strategic Research (ESR) team expects single-family home sales to reach 5.67 million in 2022, decline to 4.42 million in 2023, andContinue Reading
The housing slump began in earnest in October. Existing home sales fell 5.9% from September to a seasonally adjusted annual rate of 4.43 million units in October, down 28.4% from a year ago. This is the largest annual decline inContinue Reading
According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), unless the COVID-19 pandemic begins in the spring, homebuilder confidence fell in November to the lowest level since June 2012. 2020 . ) report, released onContinue Reading
Real estate data and information aggregation platform Cherre this week announced a partnership with real estate valuation technology firm Clear Capital. Cherre clients can now use Clear Capital’s real estate analysis with insights from 93% of all US listings, applicationContinue Reading
Mr. Cooper confirmed Monday that the company recently laid off 800 full-time employees from their original department. This is the third time this year those non-bank jobs have declined. The move follows closings in June as Cooper continues to reduceContinue Reading
According to the Bureau of Labor Statistics, the latest U.S. employment report added 261,000 jobs in October, slightly stronger than expected. “Jobs added to the economy are down from September’s total, but still showing strong positive growth, averaging more thanContinue Reading
It’s no secret that brokers are currently struggling with their pipeline. Demand for mortgages has fallen and estimated home sales are at their lowest level in seven years. Most of that is now above 7% and is due to interestContinue Reading
Ares Commercial Real Estate’s net profit for the third quarter of 2022 is $600,000, financial firm CRE reported on Wednesday. In a press release, Ares reported a third-quarter 2022 net income of $644,000 attributable to common stock, or $0.1 perContinue Reading
