Compass International Holdings (CIH), which owns Compass, Anywhere Real Estate and @properties Christie’s International Real Estate, is taking majority control or 51% of the common equity of a parent company that will indirectly own some Sotheby’s International Realty franchises.

The Robert Reffkin-helmed firm disclosed this ownership change in a document filed with the Securities and Exchange Commission (SEC) last Wednesday.

The parent company entity that indirectly owns some of Sotheby’s International Realty includes parts of Peerage, which is an investor in several Sotheby’s International Realty franchises, including Jameson Sotheby’s, Pacific Sotheby’s and Premier Sotheby’s, as well as several funds managed by TPG Angelo Gordon. The companies said the deal is part of an attempt to rework existing debt tied to the predecessor of the parent company CIH is acquiring. However, the total amount of debt involved has not been disclosed. 

“Sotheby’s International Realty, Inc. became an equity holder in several affiliated Peerage franchisees, reflecting its long‑term confidence in these businesses and their leadership in key markets across the U.S. and Canada,” a CIH spokesperson told HousingWire in an email. Peerage and these brokerages continue to operate independently under their existing leadership and brand, in most cases as part of the Sotheby’s International Realty network.”

As part of the deal, some of the debt owed to Compass will be repaid over 30 months in installments. Additionally, as part of the PUT agreement included in the filing, TPG retains the right to force CIH to buy its ownership stake at any time, by paying a predetermined price in cash. If TPG chooses to exercise that right, CIH is obligated to complete the purchase with no conditions or excuses—regardless of financing, market conditions, or internal issues.

The Sotheby’s International Realty brand is part of Anywhere Real Estate, which CIH acquired earlier this year. 

This post was originally published on here. 

For years, real estate marketing was viewed as simply a support function responsible for campaigns, promotional materials and brand visibility.  Now, there is a new model that is poised to help brokerages scale successfully.

Today, marketing sits at the center of how brokerages drive agent recruitment, retention and revenue growth. It is no longer a support function; it is a growth engine. 

Marketing shapes brand perception, drives pipeline, influences recruitment and ultimately determines how and how fast a brokerage or proptech company scales. It empowers brokerages to move faster, attract stronger agents and grow market share and profitability.

The organizations pulling ahead today are not doing so because they market better. They are doing so because they have redefined what marketing is responsible for: growth.

But that kind of growth does not happen by accident. It happens when marketing is structured with intention, when brand, performance and agent marketing and experience are distinct, aligned and accountable for real business outcomes.

The traditional brokerage marketing model was built for a time when visibility alone could drive results, and where marketing operated downstream from strategy. That model no longer holds.

What is emerging in its place is a new archetype: the marketing leader who thinks and operates like a Chief Marketing & Growth Officer with company-wide influence, accountability and ownership of the full growth system.

Own the full growth funnel

Historically, brokerage marketing teams were measured by output: brochures, signage and listing campaigns. These are still important, but they no longer differentiate a brand from a growth or expansion standpoint.

The most effective senior marketing leaders today are measured by outcomes. They go beyond marketers. They are builders and operators: close enough to the business to influence how it looks and how it grows. They own the full growth funnel, while helping shape conversations and decisions around recruitment, expansion and investment.

The data reinforces this shift. Research from McKinsey & Company found that companies with marketing embedded in strategic decision-making see 1.4x higher revenue growth, yet only about half of CMOs are meaningfully involved at that level. At the same time, Boston Consulting Group reports that organizations with strong alignment between marketing and sales achieve up to 20% higher revenue growth.

Marketing and recruitment need to be intertwined. Agents evaluate brokerages the same way consumers evaluate brands: through reputation, visibility, authority and, increasingly, the quality of the technology experience. The marketing leader who understands this doesn’t just generate leads; they shape demand for the right agents at the right time.

The brokerages that will outperform over the next decade will be those that give marketing a true seat at the table. Not as a support function, but as a driver of compounding growth.

Lead the digital transformation or be left behind

The Chief Marketing & Growth Officer, or a marketing leader operating with that mandate, should lead digital transformation with the CPO. Not just IT, or in isolation from Product. It should not be viewed as a secondary initiative owned by operations.

Digital transformation is not just about systems. It’s about adoption, experience and behavior at scale, which are all part of marketing-led outcomes.

This is where most brokerages get it wrong. Industry data shows the majority of digital transformations fail because organizations struggle to translate tools into behavioral change and business impact. In SaaS and tech companies, product and marketing are inseparable; real estate is well overdue for the same shift.

Effective marketing leaders partner closely with product and operations to improve and simplify the agent experience. They strip away unnecessary complexity, prioritize what drives progress, and ensure the tools agents rely on actually help them win business.

The issue facing most brokerages and PropTech companies today isn’t access to technology. It is translation: turning capability into behavior, tools into productivity and investment into measurable growth.

Two companies can invest in the same platform and see completely different outcomes if one treats it as a feature and the other treats it as a system. In real estate, that gap is accelerating.

Brokerages are investing heavily in AI, automation and data, but many agents are still operating with fragmented workflows, underutilized tools and inconsistent experiences. The result is not transformation, it’s complexity.

The firms pulling ahead are doing something fundamentally different. They are not asking, “What should we buy next?”  They are asking, “How should we operate differently?”

They are rethinking:

• How agents generate and convert business
• How client experiences are designed and delivered
• How decisions are informed by data, not instinct
• And how technology supports, not complicates, that process

This is where the CMGO creates a disproportionate advantage. For brokerages, it means driving measurable outcomes such as stronger agent recruitment, higher productivity, improved retention and a more consistent client experience across every touchpoint.

For PropTech companies, it means ensuring that products are not just built, but actually used, adopted and embedded into daily workflows. The gap between product innovation and user adoption is where most value is lost.

The CMGO is uniquely positioned to close that gap because they sit at the intersection of brand (what we promise), product (what we deliver) and experience (how it’s actually used).

They understand how agents build their businesses, how consumers make decisions and how both interact with technology in real-world environments.

More importantly, they own the outcomes tied to it:

• Recruitment and agent attraction
• Conversion and productivity
• Agent sentiment, retention and long-term value
• Product adoption and customer lifetime value

Without adoption, there is no ROI. Without alignment, there is no scale. And without marketing leadership, there is no system connecting the two.

The modern CMGO operationalizes new tools, partnering with product, sales and operations to ensure that every technology investment translates into a better agent experience, stronger market positioning  and measurable business performance. In SaaS companies, this alignment is expected because product and marketing operate as one system.

Real estate is still evolving into that model. The companies that win will not be the ones that invest the most in technology, but those that align leadership, culture and execution around it.

In the end, digital transformation is not about modernization but about momentum. And momentum is what great marketing leaders are built to create.

Credibility is the new competitive advantage

You have the right tools and agent adoption, now what? Today’s consumers are savvy. Generic marketing claims that once attracted attention are now costing brokerages credibility.

Today’s consumers and agents are more informed, more skeptical, and more reliant on digital signals than ever before. According to Zillow’s 2025 Consumer Housing Trends Report, 37% of buyers and 36% of sellers find their agent through online channels, turning digital presence into a direct revenue driver.

That shift elevates something many organizations still underestimate: credibility. Earned media, reputation, thought leadership and consistency across platforms now carry more weight than controlled messaging. The strongest brands don’t just say they are different; they demonstrate it repeatedly in places they don’t own.

This is where many brokerages get it wrong. They try to appeal to everyone, but credibility comes from clarity, not breadth. The most effective brands understand exactly who they are for and who they are not. They build systems, messaging and agent experiences that reinforce that positioning at every touchpoint.

Brand is no longer just a story; it is a filter. And marketing provides that filter. Over time, that filter compounds,  strengthening culture, improving retention and driving performance.

Measure what actually drives growth

The shift to a CMGO mindset ultimately comes down to accountability. Not for activity, but for impact.

Marketing leaders must operate as builders and operators: close to execution, deeply connected to the business, attuned to market shifts and aligned across recruitment, customer experience, product, operations and technology.

This requires a different measurement framework. The metrics that matter are not vanity metrics, but business metrics such as:

• Recruitment quality and conversion
• Agent satisfaction, retention, and productivity
• Technology adoption and utilization
• Customer acquisition cost and lifetime value
• Revenue growth and market share

These are not marketing-adjacent metrics, but marketing-led metrics. When marketing owns them, the entire organization becomes more aligned, more efficient, and more capable of scaling.

The new era of brokerage marketing

We are at an inflection point. Brokerages and PropTech companies can continue to treat marketing as just a support function or they can recognize what it can become. I recommend two sectors: agent marketing and corporate brand and performance marketing.

When a marketing leader operates with a Chief Marketing & Growth Officer mindset — owning how the business attracts, converts and retains agents and clients — the impact is not incremental, it is transformational.

The companies that win in this next era will not be the ones with the biggest budgets or the most tools. They will be the ones with the clearest strategy, the strongest alignment and the leaders capable of connecting brand, product and performance into a single, scalable system.

That is the role of the modern marketing leader. And it is only just beginning.

Lauren Henss is Vice President of Marketing and Strategic Initiatives at FirstTeam.

This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners. To contact the editor responsible for this piece: tracey@hwmedia.com

This post was originally published on here. 

The window for Fannie Mae and Freddie Mac to be returned to the private sector “appears to be narrowing,” with a low probability of it happening before the midterms election in November, according to analysts at Keefe, Bruyette & Woods (KBW).

With the Trump administration’s focus having shifted to the Middle East conflict and housing affordability, the topic has become quieter in Washington, D.C., and across the mortgage market in 2026, following early signals of a potential stock offering for the government-sponsored enterprises (GSEs) last year.

“While there have been multiple posts on X about GSE privatization, we think in order for privatization to succeed, the administration needs to take action to address key issues, such as capital levels, the treatment of the government’s senior preferred (stock), and the nature of the implicit guaranty,” the analysts wrote in a report released Monday.

But resolving these issues while maintaining a stable secondary market for mortgage assets will take time. And “if much of the work isn’t done in 2027, it will probably be challenging in 2028 as the administration’s focus shifts to the 2028 presidential election,” the analysts said.

“Given that, we think the window for GSE privatization appears to be narrowing.”

The comments come as the GSEs prepare to release first-quarter 2026 earnings. KBW said net interest income for Fannie and Freddie is projected to rise amid an expected $200 billion increase in their retained portfolios, as announced by Trump in January.

“The GSEs, unlike the Federal Reserve when it was buying agency MBS while conducting quantitative easing, are behaving like other private market participants and buying agency MBS where they see value,” the analysts said.

Overall, KBW lowered its price target from $10 to $8.50 per share for Fannie Mae, and from $9 to $8.50 for Freddie Mac, reflecting a reduced likelihood of privatization.

This post was originally published on here. 

The MIAMI Association of Realtors (MIAMI) and Broward, Palm Beaches & St. Lucie Realtors (RWorld) and their respective MLSs are merging, creating a single association and MLS that will be the largest local Realtor association in the world and one of the nation’s biggest MLSs, according to an announcement on Monday. 

The merger, effective May 11, 2026, will unify 93,000 members across South Florida and is being positioned by the organizations as the largest and fastest local Realtor and MLS merger in National Association of Realtors (NAR) history, according to the announcement. The combined association is proposed to be called Miami and South Florida Realtors, pending NAR approval.

MIAMI, with 56,000 members, is currently the largest local Realtor association in the U.S., while RWorld, with 37,000 members, is the third largest. The combined 93,000-member body will be larger than 47 state associations, more than double the next largest local association at 43,000 members and about one-third larger than the next largest local association globally, the organizations said.

“Two of the strongest MLS and Realtor organizations in the U.S. are now one, building on South Florida’s momentum as a global real estate powerhouse and shaping the industry’s next frontier,” MIAMI Chairman of the Board Alfredo Pujol said in the announcement. “This is a win for South Florida, our 93,000 collective members and their clients. Our members will have broader, more fluid access to the data, tools and services they need — without the limitations or complexity of multiple memberships.”

Pujol, currently chairman of MIAMI, will serve as the first chairman of the board of the combined association. Katherine Arteta will serve as 2027 chair-elect.

RWorld President Jonathan Dolphus, who will serve as 2026 chair-elect and 2027 chairman of the board for the new organization, said the combination is aimed at streamlining how South Florida real estate professionals access data and services.

“By bringing our organizations together, we are creating a more connected and efficient Association and MLS, one that delivers complete MLS data, expanded access to tools and services and a simpler way for our members to do business,” Dolphus said. He will be the first Black chairman of the board in the history of both MIAMI and RWorld.

The new association will be led by co-CEOs Teresa King Kinney and Dionna Hall, extending more than 60 years of women’s leadership at the organizations. Kinney, who has led MIAMI for 33 years, announced on Feb. 20, 2026, that she will retire at the end of 2026. Hall will remain as CEO of Miami and South Florida Realtors & BeachesMLS in 2027 and beyond.

The associations said that division boards for both legacy organizations will remain in place to preserve existing cultures and local representation. Upon completion of the merger, Evian White De Leon, MIAMI chief operating officer and chief legal counsel, will become COO of the new association and chief of the MIAMI Division. Kim Hansen, RWorld’s COO, will serve as COO of BeachesMLS and chief of the RWorld Division.

According to the announcement, the associations will initially continue to operate their MLSs as separate entities after the merger closes, with plans to fully combine them “in the near future.” Once combined, the Miami and South Florida Realtors Beaches MLS is expected to have about 93,000 subscribers, which would make it the third-largest MLS in the U.S., behind Bright MLS (101,000 subscribers) and California Regional MLS (CRMLS, 99,000 subscribers), based on T3 Sixty’s 2025 MLS rankings.

The resulting Beaches MLS will also be the largest MLS owned by a single Realtor association in the U.S., according to the announcement. The organizations reported that MIAMI and RWorld members closed $69 billion in total real estate volume in 2025.

The merged association will maintain access to both Flexmls and Matrix, giving subscribers two MLS platform options under the same organizational umbrella, according to the announcement.  The combined group says it will offer more than 2,830 educational seminars annually and provide access to more than 300 marketing tools, products and services.

In addition, the new organization will expand on MIAMI’s existing global program, which includes more than 437 signed international agreements with real estate associations worldwide. These partnerships drive referral business and promote South Florida to international buyers, investors, tourists and corporations.

The unified association also has 11 data exchange relationships with some of the largest MLSs in the U.S. and Canada, allowing reciprocal access to each other’s MLS data.

The organization said it will soon launch participation in the Global Data Exchange (GDX), a platform enabling MLSs and real estate organizations across multiple countries to share public listing data. That initiative could further extend South Florida listing exposure to global audiences and deepen inbound referral pipelines.

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.

This post was originally published on here. 

The MIAMI Association of Realtors (MIAMI) and Broward, Palm Beaches & St. Lucie Realtors (RWorld) and their respective MLSs are merging, creating a single association and MLS that will be the largest local Realtor association in the world and one of the nation’s biggest MLSs, according to an announcement on Monday. 

The merger, effective May 11, 2026, will unify 93,000 members across South Florida and is being positioned by the organizations as the largest and fastest local Realtor and MLS merger in National Association of Realtors (NAR) history, according to the announcement. The combined association is proposed to be called Miami and South Florida Realtors, pending NAR approval.

MIAMI, with 56,000 members, is currently the largest local Realtor association in the U.S., while RWorld, with 37,000 members, is the third largest. The combined 93,000-member body will be larger than 47 state associations, more than double the next largest local association at 43,000 members and about one-third larger than the next largest local association globally, the organizations said.

“Two of the strongest MLS and Realtor organizations in the U.S. are now one, building on South Florida’s momentum as a global real estate powerhouse and shaping the industry’s next frontier,” MIAMI Chairman of the Board Alfredo Pujol said in the announcement. “This is a win for South Florida, our 93,000 collective members and their clients. Our members will have broader, more fluid access to the data, tools and services they need — without the limitations or complexity of multiple memberships.”

Pujol, currently chairman of MIAMI, will serve as the first chairman of the board of the combined association. Katherine Arteta will serve as 2027 chair-elect.

RWorld President Jonathan Dolphus, who will serve as 2026 chair-elect and 2027 chairman of the board for the new organization, said the combination is aimed at streamlining how South Florida real estate professionals access data and services.

“By bringing our organizations together, we are creating a more connected and efficient Association and MLS, one that delivers complete MLS data, expanded access to tools and services and a simpler way for our members to do business,” Dolphus said. He will be the first Black chairman of the board in the history of both MIAMI and RWorld.

The new association will be led by co-CEOs Teresa King Kinney and Dionna Hall, extending more than 60 years of women’s leadership at the organizations. Kinney, who has led MIAMI for 33 years, announced on Feb. 20, 2026, that she will retire at the end of 2026. Hall will remain as CEO of Miami and South Florida Realtors & BeachesMLS in 2027 and beyond.

The associations said that division boards for both legacy organizations will remain in place to preserve existing cultures and local representation. Upon completion of the merger, Evian White De Leon, MIAMI chief operating officer and chief legal counsel, will become COO of the new association and chief of the MIAMI Division. Kim Hansen, RWorld’s COO, will serve as COO of BeachesMLS and chief of the RWorld Division.

According to the announcement, the associations will initially continue to operate their MLSs as separate entities after the merger closes, with plans to fully combine them “in the near future.” Once combined, the Miami and South Florida Realtors Beaches MLS is expected to have about 93,000 subscribers, which would make it the third-largest MLS in the U.S., behind Bright MLS (101,000 subscribers) and California Regional MLS (CRMLS, 99,000 subscribers), based on T3 Sixty’s 2025 MLS rankings.

The resulting Beaches MLS will also be the largest MLS owned by a single Realtor association in the U.S., according to the announcement. The organizations reported that MIAMI and RWorld members closed $69 billion in total real estate volume in 2025.

The merged association will maintain access to both Flexmls and Matrix, giving subscribers two MLS platform options under the same organizational umbrella, according to the announcement.  The combined group says it will offer more than 2,830 educational seminars annually and provide access to more than 300 marketing tools, products and services.

In addition, the new organization will expand on MIAMI’s existing global program, which includes more than 437 signed international agreements with real estate associations worldwide. These partnerships drive referral business and promote South Florida to international buyers, investors, tourists and corporations.

The unified association also has 11 data exchange relationships with some of the largest MLSs in the U.S. and Canada, allowing reciprocal access to each other’s MLS data.

The organization said it will soon launch participation in the Global Data Exchange (GDX), a platform enabling MLSs and real estate organizations across multiple countries to share public listing data. That initiative could further extend South Florida listing exposure to global audiences and deepen inbound referral pipelines.

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.

This post was originally published on here. 

As the real estate industry grapples with consolidation, margin pressure and shifting consumer expectations, HomeServices of America is rethinking its role — and getting louder about it.

In a recent interview on the RealTrending podcast, CEO Chris Kelly said the company is moving beyond its long-standing identity as a “quiet powerhouse” and evolving into a more active, value-driven parent organization. The shift reflects broader changes across the brokerage landscape, where scale alone is no longer enough and firms are racing to control more of the transaction.

“We are very much evolving … from holding to parent company,” Kelly said, noting that the distinction carries real implications for agents and affiliated businesses. As a parent company, HomeServices is expected to deliver value — not just aggregate it — and to take a more visible role in shaping the industry.

Listen to the podcast

A broader definition of growth

That evolution is influencing how HomeServices thinks about expansion. Rather than focusing solely on acquiring brokerages, Kelly said the company is pursuing a mix of strategies, including M&A, organic growth and investments across the broader real estate ecosystem.

“Our growth strategy could be buying other parts of the ecosystem,” he said, pointing to the company’s investment in a title underwriter as an example of a move that may not grab headlines but plays a critical role in the business model.

The approach reflects a wider industry shift. According to Kelly, real estate is increasingly dividing into two camps: national, full-service ecosystem players and cloud-based, virtual brokerages. Both models can succeed, he said, but companies need to be clear about who they are.

“There’s not any one right path,” Kelly said. “You have to understand who you are and lean into it.”

The race to the consumer

As competition intensifies, firms are also looking to engage consumers earlier in the transaction process — even before they formally enter the housing market.

“The whole concept behind it is how further upstream do I need to go to get to that client?” Kelly said.

That trend is fueling convergence across sectors, with mortgage companies, brokerages and portals all expanding into adjacent businesses. While some firms are built on digital-first strategies, HomeServices is leaning into its existing network of agents and service providers while continuing to invest in digital capabilities.

“We’re all trying to get to the same spot, just coming at it from different angles,” he said.

Local leadership as a competitive edge

Despite the push toward national scale, Kelly emphasized that local leadership remains one of the company’s most important differentiators.

HomeServices maintains a president or CEO-level leader in each of its markets — a structure that may be less efficient but, in Kelly’s view, is essential to culture and agent engagement.

“The one thing that we will not let efficiency interfere with is our local leadership,” he said.

That local focus is especially important as independents and alternative models gain market share. Rather than trying to appeal to every type of agent, Kelly said brokerages should be clear about their value proposition.

“If you pretzel yourself enough, you can appeal to be the brokerage for every kind of agent — and that’s just not reality,” he said.

Profitability through diversification

With margins under pressure across the industry, HomeServices is relying on its multi-line business model to maintain stability.

Kelly compared the approach to a stool: the more legs it has, the sturdier it becomes. Revenue streams from mortgage, title, insurance and other services help balance fluctuations in any one segment.

“Brokerage cannot be a loss leader,” he said. “They all have to be able to stand on their own.”

That diversification also allows the company to continue investing in agent services without cutting value — a key consideration in a competitive recruiting environment.

A shifting role for MLSs and portals

Kelly also weighed in on ongoing debates around private listings, portals and the role of MLSs.

HomeServices’ participation in Zillow’s “coming soon” offering, he said, was less about making a strategic shift and more about expanding distribution channels where public marketing is already allowed.

“It was just another distribution channel,” he said.

Looking ahead, Kelly expects MLSs to increasingly function as technology providers rather than rule-setting bodies. Those that adapt to that role, he said, will be best positioned to succeed.

The industry’s biggest risk

For all the structural changes underway, Kelly said the greatest threat to the industry may be internal.

He warned that fragmentation — particularly around listings and data — could create a more difficult experience for consumers and ultimately weaken the role of the agent.

“If I’ve got to go to 20 different websites to find out what’s for sale, that’s a terrible way to go about it,” he said.

Such a scenario could erode the value of buyer representation and open the door for new forms of disruption.

Simplifying the transaction

Ultimately, Kelly said the next phase of growth for HomeServices — and the industry — will center on simplifying the real estate transaction.

He compared the current process to buying a car by sourcing each component separately, calling it unnecessarily complex for consumers.

The goal, he said, is to bring brokerage, mortgage, title and insurance together into a more seamless experience, both in person and digitally.

“We’ve been a really good strip mall,” Kelly said. “We want to make it more of that singular door.”

For an industry navigating rapid change, that focus on integration — without losing the human connection — may define which models endure.

Listen to the podcast

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.

This post was originally published on here. 

Florida-based Atlantic Avenue Mortgage became the top reverse brokerage firm in the U.S. in 2025, less than four years after its founding, and it sees more room for growth in 2026. 

“We just had our best month ever. We’ve done over $90 million in loan volume in Q1. We expect to certainly be at the top of the broker space. We’re really excited this year,” founder Eric Manley said in a recent interview with HousingWire’s Reverse Mortgage Daily. 

“If the reverse mortgage product had some of these changes that the market has been discussing, it would not only help us, but help others too,” he added. “The more loan originators, the more businesses that offer reverses, the better it is.”

The company, launched in 2022 and now licensed in 35 states, topped the Home Equity Conversion Mortgage (HECM) rankings from Reverse Market Insight with 899 endorsements last year. It also built a staff of more than 70 employees, split between its Florida headquarters and an office in Maryland — including 47 salespeople, according to Manley.

Atlantic Avenue’s production is driven almost entirely by data-powered direct mail, a heavy focus on first-time reverse mortgage borrowers, and a growing share of proprietary products aimed at higher-value homes and more affluent clients.

Manley, who has been in the mortgage industry for a decade, said Atlantic Avenue has already closed more proprietary loans in early 2026 than in all of 2025. It’s leaning on a custom-built CRM system and in-house modeling to refine its targeting and improve conversion rates.

This interview has been edited for length and clarity.

Flávia Nunes: Atlantic Avenue Mortgage became the top reverse mortgage brokerage by HECM endorsements in 2025 after less than four years in business. What is driving this performance?

Eric Manley: I’ve been in the mortgage industry for a little over 10 years. I’ve worked at a lot of bigger mortgage companies, and unfortunately, it becomes a numbers game at some point. We have high retention here at Atlantic Avenue, and it has to do with who we are.

We focus on compliance. More importantly, compliance is trying to treat every interaction – you either enhance the interaction or diminish it with the customer — and take it on the education level.

Atlantic Avenue started a little over three and a half years ago. A few of us moved down to Florida, and now we’re over 70 employees. We have a range of products. We also do some forward mortgages as well, but our focus is the reverse product. That is our sole focus.

FN: What borrowers are you focusing on?

EM: We’re seeing growth across both the traditional, typical reverse mortgage borrower, as well as more affluent borrowers. Many financially strong homeowners now are viewing home equity as part of their retirement strategy.

The reverse mortgage is something that should be used a lot more. It’s an amazing product. There are a lot more people in America who need this product than are using it. The biggest thing that’s sad is when we see older borrowers who have been in the house for 40 or 50 years and, instead of taking out a reverse, they would rather downsize and move to an apartment.

FN: How do you see proprietary products evolving?

EM: We’ve already done more proprietary products this year than in all of last year. We did about 60 to 70 proprietary products last year, and we’re already at around 60 right now. They’re becoming more important, especially for high-value homes and more affluent borrowers. But at the same time, there are additional benefits even for borrowers who aren’t in that situation.

They don’t have the upfront mortgage insurance, which is pretty high. We have the ability to pay off debt, which is huge. The proprietary principal limit factors are, at times, even more competitive than the HECM. Years ago, that wasn’t the case.

There are quite a few times where it still depends on the principal limits for the benefit of the borrower, but you’d be surprised how frequently you’ll see the proprietary loans allow borrowers to get more access to cash. And on top of that, the closing costs are less. From our standpoint, it’s just becoming a more competitive product. There’s a broader reach.

The challenge is education, but we make sure that our team knows the difference between the HECM and the proprietary products. It seems like the secondary market has a better appetite for proprietary products. It’s more flexible as well.

FN: What are your expectations regarding the U.S. Department of Housing and Urban Development (HUD)’s request for information on the HECM and HECM Mortgage-Backed Securities (HMBS) programs?

EM: It’s encouraging that there is an RFI. It shows regulators recognize the importance of the reverse program and are looking for ways to improve it. I know there’s a liquidity side, the efficiency and sustainability side, and looking at some of the articles from the National Reverse Mortgage Lenders Association, probably one of the most important things is the upfront mortgage insurance.

The Mutual Mortgage Insurance Fund is doing very well. Maybe we can reduce the 2% upfront premium and find a better system so that you can put more borrowers into reverse products.

FN: What’s your perspective on some recent broker-lender agreements?

EM: We’ve always had those letter broker agreements. I do think that they’re making some positive steps, and it shows the industry is evolving. There’s better alignment between brokers and lenders. It benefits everyone. That’s always been one of our main focuses at Atlantic Avenue — trying to have the best relationships with third parties. 

But the key to it, even with the agreements there or not, is actually that relationship with them. We have great relationships with our lenders, with the companies, with our AMCs, with our title partners. Regardless of what those agreements say, the most important thing is having that human to human interaction with lenders and really working as a team, even though they’re different companies.

The agreements are great, but they alone aren’t the solution. The long-term success still depends on fair economics between both sides, strong support and product availability.

FN: These agreements are also seen as a way to deal with refinance churning. How are Atlantic Avenue’s originations split between purchase and refis?

EM: The HECM endorsement reports show us as more heavily weighted toward HECM-to-HECM. But last year, over 40% of our loans were what we call FTRs – first-time reverse. We had months last year where over 60% of our business was first-time reverses.

It is something we’re expanding. We’re really honing in on our marketing to continue to grow that out. Probably the most important thing we can do is put as many loans as we can into this space and educate as many people as we can for the first time.

FN: How are you attracting more borrowers, and what is the main source of your leads?

EM: We focus on direct-mail marketing. That’s all we do. We’ve tried web marketing as well, and it’s really hard to qualify. We get a lot of referrals in the South Florida area, but it takes a long time to build out that referral network. We think that data-driven marketing is the way to go. That really separates us.

The biggest room to grow is in the FTR proprietary space, because there are already people who have proprietary loans and people are refinancing them. But one thing we’d like to focus on is growing that pool of affluent first-time reverse borrowers, which is a tough code to crack and has a lot to do with behavioral marketing.

We have tried social media. It’s good to show brand awareness. We’ve done Google ads. The juice is not worth the squeeze, at least for our level. If we were a big lender, we’d probably do it just to keep the brand out there. Unfortunately, you get a lot of people who don’t qualify, and you can educate them, but at the same time I still need to make sure we’re providing our sales floor with qualified leads.

FN: How do you deploy technology, AI and data in your marketing strategy?

EM: We do a lot in-house. We have our own custom-built CRM, which is constantly evolving. And then we have numerous models, different mail strategies and something we update weekly. I think that’s what really separates us, how focused we are on data.

We buy the data from various vendors. We try to buy the best data we can, both property and credit data, and we try to make sure that we’re targeting the people we think have the best chance of qualifying as well as responding. The team we have working on our models understands reverses. It’s really hard to find people who like the reverse space and at the same time want to dedicate a lot of time to figure out how we can build it out.

A lot of companies would do auto dialing. I’m really against auto dialers. It’s not good business. Same with trigger leads. I believe those are done. We’ve never done anything like that. We’ve done manual outbounds at times, but we don’t do this often.

FN: How has Atlantic Avenue performed so far in 2026?

EM: We just had our best month ever. We’ve done over $90 million in loan volume in Q1. We expect to certainly be at the top of the broker space. We’re really excited this year. We certainly expect 2026 to be our best year yet, especially with the pace we’re on.

If the reverse mortgage product had some of these changes that the market has been discussing, it would not only help us, but help others too. The more loan originators, the more businesses that offer reverses, the better it is. Unfortunately, some businesses don’t like the idea of competition. The more competition there is, the better. It raises the standards and requires you to be more educated on the products.

This post was originally published on here. 

The home inspection industry is undergoing a quiet shift that directly impacts mortgage origination timelines, closing procedures, and lender risk assessment. As the owner of an inspection company, with over 3,000 inspections completed across Texas’s fastest-growing markets, I’m seeing trends that fundamentally reshape how lenders, agents, and buyers approach the inspection phase of the transaction.

Thermal imaging becomes standard, not premium

Five years ago, thermal imaging was a luxury add-on. Today, it’s becoming baseline. Infrared technology reveals what the naked eye cannot: missing insulation, air leakage patterns, moisture intrusion, and hidden electrical hotspots. For mortgage originators, this matters considerably. A complete thermal imaging report reduces post-closing defect claims by identifying issues before funding, which directly protects lender collateral and reduces early payment defaults caused by expensive surprise repairs.

In the Austin-San Antonio I-35 corridor, where rapid new construction dominates, thermal imaging has become necessary for identifying shortcuts in insulation and HVAC installation. Lenders working with new construction clients in Kyle, New Braunfels, and Round Rock increasingly request thermal imaging reports as a condition of commitment. A trend is unlikely to reverse.

Video walkthrough reports are replacing static PDFs

Static inspection reports are becoming vestigial. Buyers and agents increasingly expect video walkthrough reports. narrated, timestamped documentation of every defect with visual evidence. This serves multiple stakeholder interests: buyers see exactly what the inspector saw; agents have defensible documentation for their MLS disclosures; and lenders have video-backed evidence of collateral condition at inspection.

The operational benefit for originators is subtle but significant. When a repair dispute arises post-underwriting, you have video evidence rather than conflicting interpretations of written reports. This reduces loan file friction during quality control and underwriting review.

Bundled services and In-depth due diligence

Buyers and lenders increasingly demand detailed due diligence. Beyond the standard home inspection, commercial clients now routinely request crawl space evaluations, foundation elevation surveys, septic system inspections, WDI/termite reports, and thermal imaging as bundled packages. The in-depth approach reduces the risk of major undisclosed defects that could trigger renegotiation post-inspection or post-closing.

For mortgage originators, the message is clear: thorough, bundled inspection protocols lower overall credit risk. A buyer who knows the true condition of the foundation, HVAC, roof, and septic system is less likely to experience buyer’s remorse or post-closing disputes that impact loan performance.

11-month warranty inspections on new construction

New construction is booming across the Austin market, and so is a new service: 11-month warranty inspections. These occur just before the builder’s one-year warranty expires, allowing homeowners to formally document defects before their recourse period ends. For lenders, this trend is powerful: it encourages buyers to uncover defects during the warranty period rather than walking away from the property or facing legal disputes years later.

The I-35 corridor is experiencing unprecedented growth, and much of that growth is new construction. New homebuyers increasingly understand that an 11-month inspection is not optional, it’s critical self-defense. This service has become standard request in hot markets like Kyle, San Marcos, and Buda.

Closing timelines and inspection pressure

These trends are compressing closing windows. Broad inspections with video reports, thermal imaging, and specialty inspections (foundation, crawl space, septic) require time. Originators who build 7-10 business days into their inspection timeline, rather than the old 3-5 day standard, experience fewer rushed decisions and reduced post-closing disputes.

The bottom line for lenders

Home inspection trends are not cosmetic. They reflect a market-wide recognition that thorough, documented due diligence protects all stakeholders. Originators who incorporate these evolved standards into their loan origination workflows, such as thermal imaging, video reports, and broad defect documentation, are investing in better credit outcomes and reduced post-closing litigation risk.

The inspection phase is no longer a formality. It’s a critical control point for collateral assessment and borrower confidence.

Shawn Patterson is the owner of CenTex Inspection Services.
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners. To contact the editor responsible for this piece: zeb@hwmedia.com.

This post was originally published on here. 

As automation reshapes mortgage operations, the industry’s next challenge is to help borrowers navigate the complex decisions that shape their lives—not just to close the loan faster.  

For the better part of a decade, the mortgage industry has been obsessed with a single metric:  speed. We have poured billions into “Sales Infrastructure”—digital applications and lead generation engines designed to capture consumers in seconds. We built high-performance engines to get borrowers to the starting line, but we often forgot to pave the road to the finish line.  

Every generation inherits a financial system built for someone else. Today, as individuals move toward financial independence, they are immediately confronted with binding commitments — where to live, how to finance transportation, and how much debt is sustainable. These decisions shape the next 20 to 40 years of their lives. Yet the modern financial system treats these as isolated transactions, evaluated independently and explained not at all.  

We don’t have a speed problem; we have a navigation problem. In today’s market, the bottleneck is rarely getting the customer into the funnel; it is navigating the “administrative rot”  that exists between the application and the deed. To move forward, the industry must transition from a sales-distribution model to a Navigation Infrastructure model.  

The administrative rot: Why speed is an illusion  

In a traditional workflow, a “fast” approval is often a hollow victory. A borrower may receive an answer within minutes, but rarely an explanation. Technology has become remarkably good at determining whether a borrower can be approved, but it remains structurally incapable of guiding them through the approval process.  

This is largely because the system rewards execution and throughput rather than restraint or understanding. Efficient file movement is a measure of success. No operational dashboard celebrates the time spent explaining why a decision might be suboptimal — such as qualifying for a 30-year term when a 20-year structure would preserve long-term liquidity — because that time does not monetize cleanly within traditional commission structures.  

As a result, borrowers often mistake access to credit for an endorsement of their decision. They believe they have made an informed choice when, in reality, they have merely complied. This  “administrative rot” is not a failure of ethics, but a failure of system design. The next phase of innovation must focus on a system that works for the person, not just the transaction.  

Navigation infrastructure: The operating system for ownership  

Navigation Infrastructure represents a fundamental shift from reactive data collection to proactive orchestration. It was not conceived as a minor improvement to the application process,  but as a response to a structural absence in finance: the absence of guidance. 

Think of this infrastructure as “Air Traffic Control” for the journey from application to settlement. It does not exist to advise on which products are “best” — an act that would merely recreate old incentive conflicts. Instead, it serves as a guide through the application process itself, ensuring that the borrower navigates on a foundation of verified facts rather than speculation.  

This infrastructure relies on three operational pillars:  

1. Truth as Infrastructure: Establishing financial truth once, directly at the source, and preserving it as a reusable foundation so borrowers don’t have to re-upload the same documents repeatedly.  

2. Middle-Office Orchestration: Automatically identifying what needs to happen next in an application and triggering it instantly to remove human “phone tag”.  

3. Real-Time Connectivity: Using advanced APIs to ensure the lender and the borrower are always looking at the same map, updated in real-time.  

The shift from “search” to “resolution”  

The greatest friction in the current system is that every application resets the process. Every lender rebuilds the same picture from zero, leading to preventable denials and borrower fatigue.  

Navigation Infrastructure solves this by treating financial truth as infrastructure — not paperwork.  By tracking not just “Is this true?” but “When was this verified and how does it age?”, the system introduces an awareness of time into the process. This allows the infrastructure to understand the  reliability of a borrower’s data over time rather than just their point-in-time eligibility.  

The Workflow Impact: 

Consider how these changes the daily reality of a loan file:  

 The Title Hurdle: A rental management judgment typically surfaces days before closing.  In a traditional model, a processor discovers the defect and leaves a voicemail, leaving the file in limbo for 48 hours. In a navigation model, the system identifies the defect and instantly triggers automated outreach for a payoff statement, clearing the hurdle weeks before the scheduled closing.  

 The Verification Loop: Instead of a borrower chasing their employer for a new paystub because a 30-day window expired, the system maintains a “living foundation”. It knows  when employment continuity was last validated and can automatically refresh that truth at  the source, preventing late-stage surprises.  

The transparency dividend  

In the modern financial system, the true status of a transaction is often difficult to observe. A  Navigation Infrastructure addresses this by building “explainability” into the process. 

Every event is source-level, time-stamped, and normalized. This creates an auditable chain of truth that strengthens compliance for lenders and improves transparency for regulators. For the  borrower, this represents a “Transparency Dividend.” Instead of navigating in the dark, they are given a clear view of their verified financial reality and how it aligns with the system’s requirements.  

The human-AI partnership  

This infrastructure does not replace the need for professional judgment. As operational complexity declines through automation, the industry must ask: where should human expertise create the most value?  

The role of the professional is elevated, not diminished. By liberating experts from  administrative tasks such as chasing documents and manual follow-ups, a Navigation  Infrastructure allows them to focus on high-value guidance. The technology handles the logistics of the “last mile” of the transaction, while the human professional remains the ultimate pilot of the ship.  

Conclusion: The new industry standard  

The mortgage industry has spent decades perfecting the process of efficiently producing loans. The next phase of innovation must focus on helping borrowers navigate the complex decisions  that shape decades of their lives.  

Real estate is the largest asset class in the world, yet we have tried to navigate it using fragmented maps and manual labor for too long. A robust Navigation Infrastructure is the missing counterpart to traditional lending—a guide that works for the person, not just the transaction.  

The firms that will dominate the late 2020s are those that stop buying “tools” and start investing  in “infrastructure.” It is time to stop celebrating how fast we can find a problem and start measuring how efficiently we can navigate to a resolution.

Gerald Green is the founder of Veri-Search.
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners. To contact the editor responsible for this piece: zeb@hwmedia.com.

This post was originally published on here. 

For nearly two decades, real estate technology followed a predictable playbook: Build an all-in-one platform that does everything, with the CRM, dialer, transaction management and nurture campaigns all under one roof.

But a quiet reversal is underway. A growing number of agents, teams and brokerages are abandoning general-purpose tools in favor of highly specialized solutions designed to do one thing exceptionally well.

To illustrate this shift, HousingWire sat down with Troy Palmquist, founder of HomeCode Advisors — a peer-driven directory and review platform that helps real estate professionals navigate the fast-growing world of proptech.

Palmquist pointed to a new wave of startups redefining specialization.

“I think Rezora was really the first, the one that kind of made me start really realizing what I was seeing,” he said. “Prospecting can be done 1,000 different ways and much of it can now be automated. With voice and outbound dialing, you have more ability to create specific or niche products that serve the purpose of one type of thing.”

Rezora IO — launched in January — is an artificial intelligence (AI) voice prospecting agent that automatically makes calls, qualifies leads, books meetings and syncs calendars. Company co-founder Aidan Richards said seeing real estate move toward specialized tools was a green flag for product development.

“The whole reason that we built this is there are plenty of companies that offer AI voice agents to make phone calls, but not specifically for real estate agents,” he said. “You can pretty easily and quickly create an AI voice agent, but you have to build it from scratch and test it and deploy it.

“Then on top of that, it’s not going to be able to speak specifically like a Realtor would, handle objections the right way and be personalized for this type of conversation.”

Rezora solved this by building its own large language model trained on more than 60 sales books and thousands of real conversations.

During an alpha test in October 2024, agents saw three times the conversion rate versus manual calling, according to the company.

Specialized tools winning on cost, integration

One concern with specialized tools has always been cost — paying for five niche products instead of one bundled platform.

But Palmquist argues that the math favors specialization, especially when integrations are done right.

“Most of these products aren’t that expensive,” he said. “If you get one listing appointment that you didn’t have because of it, did you get a return in your first 30 days? I’d say yes.”

The key enabler, he said, is open integration.

“The companies that are doing really well and seeing growth right now integrate with everything they can,” Palmquist said. “They go about building with the mindset of, ‘I need to plug into X software so I have the most beneficial product and output for my customer.’”

Richards echoed this philosophy.

“Another goal of ours is to integrate on as many platforms as possible, so adding Rezora to people’s CRMs and to lead generation websites and anywhere that Realtors are already spending time,” he said. “We want it so they don’t also have to sign up for this tool and can continue using it. This is supposed to modify your tech stack and not necessarily add to it.”

‘Amazon for AI voice agents’

What makes this moment different, according to Palmquist, is that many of these specialized tools are genuinely novel.

As for whether larger proptech platforms will simply copy the approach of Rezora and similar specialty tools, Richards is unfazed.

“I’d be surprised if any company really tried to get into this, just because the tech investment and the complexity of the agents is really complicated,” he said. “It’s going to get easier, in a sense, but also, at the same time, we’ve got a pretty substantial headstart in terms of tuning in agents, specifically for real estate.”

The road map, he said, is to become “the Amazon of AI voice agents.”

“It would be where there’s one (agent) for every kind of conversation,” Richards said. “So that means you log on, you pay the regular subscription price, and then it tells you, ‘OK, do you want buyer leads, seller leads, expired listings, open houses, wholesale, circle prospecting? All those are already ready to go.’

“Then, hopefully at that point, we would have been deployed to enough brokerages where they wouldn’t even need to create their own agents, because we can just tweak any of ours a little bit for whatever a Compass wants or whatever an eXp wants.”

For agents tired of bloated dashboards and unused features, the shift toward specialized tools that actually replace — rather than multiply — their tech stack could prove welcome.

This post was originally published on here. 

I became a grandma recently, which has been equal parts magical … and also mildly humiliating. Because apparently, everything we did thirty years ago is now wrong. Like, way wrong. I marvel that my daughter survived to age one.

Put the baby on their stomach? Wrong. Kiss that baby on the face? Not yet, Grandma. Add a blanket and a stuffed animal to the crib? Horrors. Let them cry it out for a few minutes? Essentially a felony.

I did manage to bite my tongue before saying “But we did it this way and you turned out ok …” which I’ve learned, is not considered a compelling, data-grounded argument in 2026.

And honestly?  They aren’t wrong.

Today’s parents have more data, more tools, more access to information – and as a result, they are making different, often better decisions. Not because the old ways were foolish or bad … but because we know more now.

So it got me thinking.

If we can see how parenting tactics have evolved with better information and the ability to look back and see what worked well and what didn’t … why do we still make some of the same mistakes in the mortgage industry that we were making back in 1995?

If there’s one thing that becoming a grandma (“Gigi,” for the record) has reinforced for me, it’s that just because something worked in the past, it doesn’t mean it’s still the best way to do it. And yet, we cling to our old habits like comfy security blankets.

Some of that is understandable, as this is a high-stakes business with much on the line, and old habits that have served well over the market cycles are hard to shed. But some of those old ways of thinking may be costing us growth, talent, revenues and relevance. And this market has exposed some of the places where we simply must evolve.

Here are three places where I think we’re still getting it wrong – and one where I think we are finally doing it exactly right.

Over-reliance on top producers instead of building systems

We know the stats: 30% of loan officers are doing 70% of the production, year after year (InGenius). So we chase them, give big signing bonuses, build entire strategies around making sure they are happy and never want to leave us. But this isn’t a growth strategy, it’s a dependency.

Don’t get me wrong. While I might not have originated enough to be listed in the new HousingWire Mortgage Rankings, I was a decent MLO in my own right – and I have a lot of respect and love for the hard work originators do. 

But I will suggest that the best companies out there have shifted to creating repeatable systems and best practices – supported by technology – that create more consistency and raise up better producers across the board. Think playbooks over personalities. I’ve also found that the best of the best top producers are surprisingly generous, and generally willing to help capture their best practices and habits to help lift others around them.

Designing around the company rather than the customer

Every single mortgage company website says they are customer-centric, customer first, customer is numero uno. But then the processes, tech interfaces and communications are built to make sense for the company, internally. But not externally, to that customer to whom each mortgage company has pledged their undying love and affection. 

Today’s consumer has an expectation of an easy-to-understand process that helps build understanding and trust – and when that isn’t delivered, they notice.

Secret shopping results show that the customer experience in mortgage still has a whole lot to be desired. Not to mention the miserable repeat and retention rates that still hover darn close to 18%, according to the MBA. Where is the love, and what to do?

Test out your process, end to end – and not with an internal eye, but purely the view from the prospect or customer seat. Secret shop in earnest. Survey your customers. And most importantly, stare your results in the face, and be relentless about not just removing friction points – but considering the ways you can delight your customer.  

Underestimating the speed of technology adoption … including AI

AI isn’t coming soon – it’s here, and it’s already infiltrating many unexpected nooks and crannies of our personal and professional lives.  

Yet I know a lot of brilliant, experienced mortgage professionals, from the executive suite to the front lines, who are simply overwhelmed trying to keep up.

Last fall, Ruth Porat, president and CIO of Google and Alphabet talked about AI, stating “I think of it as a time where there are two speeds. One is the speed of change, the speed of breakthroughs, the science that we’re seeing, but the other really important part is a slower speed. And that’s the speed of adoption in a truly substantive way so that each one of us can have that economic uplift that AI offers.” 

So well said – the pace of innovation is far faster than the speed at which humans can adopt it, and it doesn’t seem to be slowing down any time soon.

So what are smart lenders doing? Starting small, but starting immediately. They are building internal AI task forces that include participants from each major department – both to watch for unintended consequences, help find adoption best practices, and to create internal champions to help buy-in across the company. They are focusing on applications that support and serve their staff, not replacing them. That day will come and not just in mortgage, but that’s a topic for a different day.  

And … have patience. Many employees are wildly stressed by technology change, particularly AI. Take adequate time to help them understand the why, learn and adopt.

So what are we getting right?

This challenging market that seems never-ending has driven us to question everything. And this is a very good thing. Putting everything on the table and questioning if there is a better way. Pushing back on long held assumptions that things need to be done this way … because it’s always been done this way. Developing an openness to new technologies, new partnerships, new ways of working. A willingness to embrace data and take significant action. Making daily learning and listening a must do, not a sometimes do. 

Attending industry events and not just sitting in the sessions scrolling on our phones, but intentionally bringing meaningful strategic learnings and actions back to the team. Learning from the past and what worked well but actively questioning, seeking out and embracing the new.

So 30 years ago, we did our best with what we knew at the time – and we and our children and our industry amazingly survived. But it turns out that “we’ve always done it this way and survived” isn’t really a great strategy, in parenting or in the mortgage industry. 

A new generation can make different choices, building on what we did in the past, with better information, tools, technology, data and insights. It’s not a rejection of the past, but it is wisely and continually building on it. Growth will come from a willingness to question, tweak, learn, measure, adjust and keep trying. And for us old dogs, being willing to admit that in plenty of cases, the new ways are actually much better.

Even if it means that from time to time, this Grandma will have to keep her parenting opinions to herself.

This post was originally published on here. 

Virginia Gov. Abigail Spanberger left in limbo legislation that would let faith-based organizations build affordable housing on their land without rezoning.

Instead of vetoing or signing the Faith in Housing Act, Spanberger recommended changes. The recommendations keep the bill’s core intact but make targeted operational tweaks.

The governor, who has only been in office since January, made improved housing affordability a major campaign theme. Her first legislative push had mixed results. Local governments defeated a proposal to allow multifamily housing by right in many commercially zoned areas.

Since the faith-based bill passed more than a week ago, local governments have pressured the governor to veto it. At the same time, she has heard from pro-housing and faith-based organizations urging her to make it law. The measure would put Virginia among the few states with a “Yes in God’s Backyard” policy that permits faith-based housing development by right.

“The governor’s amendments make some narrow adjustments, and like most legislation, there’s still room for improvement,” Jessica Sarriot, a co-lead organizer for Virginians Organized for Interfaith Community Engagement (VOICE), told HousingWire‘s The Builder’s Daily. “But this creates a strong foundation and we’re ready to move forward.”

Virginia legislators will consider the recommendations when they reconvene April 22. Even if they reject them, Spanberger can still sign the original bill.

Tweaks to the Faith in Housing Act

Spanberger proposed easing the bill’s infrastructure test. She would replace the 500-foot water and sewer rule with a broader service-or-planned-service standard. She also reinforced safeguards by clarifying that projects must follow environmental, historic, siting and archaeological laws and regulations that apply to similar developments.

On building form, Spanberger narrowed height flexibility. She excluded buildings with special-exception height from the tallest-building comparison baseline. Her recommendations would also give historic districts more control by letting existing historic-district regulations set maximum building heights in these areas.

She broadened pro-housing tools for local planners by allowing higher minimum housing densities in revitalization, transit, and small-area or sector-plan districts.

To address process concerns, she proposed streamlining approvals. Qualifying projects would be deemed “substantially in accord” with local comprehensive plans, limiting plan-consistency challenges.

She also reinforced the bill’s implementation focus by urging tax-exempt religious and nonprofit landowners to consult state housing resources when planning affordable housing on their properties.

This post was originally published on here. 

While the mortgage industry lobbies to reduce credit report costs, the idea of allowing borrowers to use the same file across multiple lenders has slowly emerged.

In this consumer-controlled portable credit report model, borrowers would authorize the use of a single credit report during their mortgage search across different lenders. The concept mirrors tenant screening reports — a reusable, renter-obtained background check shared with multiple landlords, often within a 30-day period.

Mortgage industry proponents say the change would reduce the need for lenders to pull credit reports that ultimately fail to result in closed loan originations while also empowering customers. Credit reporting industry representatives, however, view the model as an open door for fraud and have showed skepticism from the start. 

The Broker Action Coalition (BAC) noted in a February letter to the Federal Housing Finance Agency (FHFA) that consumers have their credit pulled an average of 2.5 times when getting a mortgage. Reducing this to a single pull would effectively lower the aggregate cost of credit reports from roughly $150 to $60 for the consumer, the group said.

“I don’t think it solves all of our problems; it’s more than a Band-Aid solution, though,” Brendan McKay, president of advocacy at the BAC, said in an interview with HousingWire.

“Right now, if a consumer comes to me and says, ‘Hey, I want to get preapproved, but I just had my credit pulled by a lender down the street. Can you just use that credit report I paid for?’ the answer is no, and for no good reason. Either I have to pay $150, or they have to pay $150, to pull a report with the exact same information on it.”

Under the proposal, a borrower would pull and pay for their own credit report, then distribute it with multiple mortgage companies by sharing a credit reference number, McKay said. Lenders would then import the credit report directly into their systems.

“It’s not going to drive down the cost of credit, but it will reduce the number of credit reports that are pulled wastefully,” McKay said. He added that his broker shop spends $30,000 a year on credit reports for mortgages that don’t close.

Under the Fair Credit Reporting Act (FCRA), lenders can currently share borrower credit reports with third parties like investors only if they have a permissible purpose. Lenders often incur additional “secondary use” fees from credit bureaus for each party that accesses the report. They frequently pass these costs to the borrower as part of the application or origination fees.

“When lenders began to reissue a credit report to various lenders through Fannie Mae and the Federal Housing Administration, the reissue fees were put in place,” an executive in the credit reporting industry said. “The bureaus also must post a hard inquiry to every lender whose report is shared. Clearly, they are not going to do that without a revenue game.”

Current context

The portable credit report concept recently emerged when the Consumer Financial Protection Bureau (CFPB), under former Director Rohit Chopra, debated the Personal Financial Data Rights Rule. The rule established an open banking framework, but the bureau vacated it last year. 

Mortgage professionals view the model as an interesting idea but argue it lacks sufficient research and faces a difficult context, making it hard to support. 

“My overarching concern is that adding a new variable into the mix with credit reports, when we are already beginning to explore other variables, could start to become destabilizing for the housing market,” said Taylor Stork, president of the Community Home Lenders of America. “The industry in general needs to figure out how the impact of VantageScore 4.0 and FICO 10T hits the rate sheets.”

There are also questions about operational challenges — for example, how sharing the information with multiple lender would affect credit scores.

“Portable credit reports are a novel and compelling idea with clear potential benefits for the consumer experience,” Stork said. “At the same time, we need more clarity on key operational and risk considerations. For example, the process today includes verifying inquiries to ensure the borrower hasn’t opened new credit across multiple lenders.

“As we evaluate a portable model, a concern might be how those safeguards would work. With that clarity, the industry can better assess the concept.”

Eric Ellman, president of the National Consumer Reporting Association (NCRA), raised concerns about fraud.

“We are obviously very focused on fraud prevention; artificial intelligence and other technology are making it so much harder to fight fraud — and conversely, making it so much easier to commit and perpetuate fraud — that anything that has the capacity to inject more fraud into the system is going to be a significant problem,” Ellman said.

For McKay, portable credit reports would remove a significant financial barrier for consumers facing a challenging path to homeownership. Borrowers are more likely to persist rather than exit the process prematurely when each additional attempt no longer requires another $150 simply to assess eligibility.

“It is time to give consumers meaningful control over their credit reports,” he said. 

This post was originally published on here. 

Tri Pointe Homes shareholders overwhelmingly voted to approved the previously announced merger with Japanese firm Sumitomo Forestry during a special meeting of stockholders held on Thursday. 

While the deal is not yet finalized, the acquisition is expected to close sometime during the second quarter, according to the initial merger announcement. 

Sumitomo Forestry confirmed the vote in an announcement, and Tri Pointe Homes revealed further details in an 8-K filing with the Securities and Exchange Commission (SEC). The two companies announced the $4.5 billion all-cash acquisition in February.

According to the SEC filing, about 78% of the company’s 85,135,564 shares of common stock were represented in person or by proxy at Thursday’s special meeting. Of the shares that were represented at the meeting, 99.99% voted in favor of a proposition supporting the merger. 

The vote came shortly before the waiting period for the merger — which is mandated under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 — expired at 11:59 p.m. ET on April 16. 

The merger’s completion is still contingent on other conditions set out in the agreement, and the SEC filings did not include an expected closing date. After the merger is complete, Tri Pointe Homes will go private, meaning its scheduled April 23 earnings call for the first quarter of 2026 could be its last as a public firm.

Once the Tri Pointe Homes and Sumitomo Forestry merger is finalized, Japanese companies are expected to account for about 6% of home construction in the U.S. Japanese builders, motivated by a declining domestic population, are increasingly looking to international markets for expansion opportunities. 

Tokyo-based Hajime Construction became the latest Japanese firm to scoop up an American homebuilder after acquiring a 51% equity stake in Utah builder Wright Homes in March. 

This post was originally published on here. 

Maine Gov. Janet Mills this week signed LD 1901, making Maine the first state to enact comprehensive consumer protections for home equity investments (HEIs), which the new law defines as “shared appreciation mortgage loans.”

The bill, titled “An Act to Regulate Shared Appreciation Agreements Relating to Residential Property,” establishes guardrails around a growing class of home equity-based products that offer cash upfront in exchange for a share of a home’s future value. The law targets features that advocacy groups like the National Consumer Law Center (NCLC) say can lead to large, unpredictable lump-sum payments and forced home sales.

HEI arrangements generally allow homeowners to tap equity with no monthly payments, repaying the provider when the home is sold or refinanced, or when the borrower dies. The payoff amount is tied to the home’s future value, meaning it is unknown when the agreement is signed. According to an NCLC press release, the balloon payments can reach tens or even hundreds of thousands of dollars above the initial cash advance, stripping equity needed for retirement, health care or intergenerational wealth transfers.

“With the signing of this groundbreaking bill, Governor Janet Mills brings transparency and fairness to the home equity investment loan process,” Andrea Bopp Stark, senior attorney at NCLC, said in a statement. “This legislation applies comprehensive boundaries to a complex financial product that is often marketed and sold without regard for the long-term impacts on homeowners.”

The bill was sponsored by Rep. Art Bell (D-Yarmouth.) The Maine Bureau of Consumer Credit Protection, led by Superintendent Linda Conti and principal examiner Ed Myslik, supported the legislation and was actively involved in its development, according to NCLC.

Key provisions of Maine’s HEI law

LD 1901 defines “shared appreciation mortgage loans” as transactions in which a homeowner receives cash upfront in exchange for a future interest in the property’s value, secured by the real estate and payable upon a triggering event such as sale, refinance or death.

The statute’s consumer protections include:

• Enhanced disclosures that spell out the actual costs and potential future payments associated with the loan
• Mandatory housing counseling education and legal representation for consumers before they enter into a shared appreciation mortgage
• Limits on contract terms, including prohibitions on unreasonable restrictions related to renting, occupying or maintaining the property
• Assignee liability, extending homeowners’ claims and defenses against the original lender to any purchaser or assignee of the loan

Consumer advocates say HEI products are often marketed nationally to older homeowners with significant equity and to consumers with lower credit scores. The structures are typically positioned as alternatives to home equity lines of credit, cash-out refinances or reverse mortgages — but without the same level of regulatory oversight.

What’s happening in other states?

“HEI loans may be marketed as a lifeline to a homeowner in trouble, but they are a trap that siphons away people’s hard-earned equity,” Tom Cox, a Maine attorney, said in NCLC’s announcement. “Thanks to the Maine Legislature and Governor Mills, Mainers will have one less bad financial actor to contend with.”

For lenders, servicers and real estate agents, Maine’s law is an early signal of how states may move to regulate nontraditional equity products that sit outside conventional forward mortgage and reverse mortgage frameworks but function similarly from the homeowner’s perspective.

A key legal decision involving the HEI space was announced in October when a federal appeals court ruled that Unison‘s flagship product met the definitions of a reverse mortgage under Washington state law.

It’s not the only legal battle being waged against San Francisco-based Unison, which faces a class-action suit in California stemming from a complaint by a senior homeowner. The complaint is based on a $97,000 payout in 2017 that allegedly grew to $375,000 after eight years, implying an effective interest rate of nearly 35%.

The company was also recently sued in Colorado. The plaintiffs in that case say they are “trapped” in an agreement that would force them to pay up to $278,000 to terminate the contract after an upfront payout of about $87,000.

Another major HEI company, Hometap, was targeted by the Massachusetts attorney general beginning in February 2025. Late last year, a Suffolk Court Superior Court judge ruled that Hometap’s defense could not rely on arguments that state regulators previously approved or implicitly sanctioned the company’s business model. The case is still in the discovery phase, with a deadline of Oct. 23, 2026, for the parties to submit evidence.

Changes on the horizon?

HEI providers and investors now face state-level requirements in Maine around disclosures, counseling and assignee liability that more closely resemble traditional mortgage rules. That could affect product design, pricing, secondary market appetite and how these agreements are integrated into broader home financing strategies.

Maine’s law also underscores growing regulatory and advocacy attention on equity-stripping risks for older homeowners and equity-rich, cash-poor households. Housing professionals operating in Maine will need to understand the new definitions and compliance obligations when discussing or encountering shared appreciation structures in transactions, refinances or loss-mitigation scenarios.

Stakeholders in other states are urged to watch Maine’s framework as a potential model for future legislation. NCLC said its attorneys have long pressed for stronger oversight of HEI products. The organization provided technical assistance in drafting LD 1901 and testified in support of the bill.

In November, not long after the ruling against Unison in Washington state, Allen Price of BSI Financial Services told HousingWire that secondary market investors are watching these legal proceedings with interest as they could reshape how HEI products are marketed and securitized.

“It’s kind of early to tell with any kind of specificity what the real impact is going to be to [sales] volumes,” Price said. “The disclosures that homeowners are going to get will probably change. In Washington state, if you’re a shared equity originator, you’re going to have to change your disclosures — which may not necessarily mean a whole lot, but that’s more cost. You’ve got more training, more consumer education you have to do.”

This post was originally published on here. 

On Thursday, Dark Matter Technologies announced the promotion of Vikas Rao from chief technology officer to CEO, with Rao replacing Sean Dugan.

At the same time, the Florida-headquartered company announced layoffs impacting 5% of its workforce. The roles affected were not immediately announced.

Rao, just one day into his new role heading the technology company, sat down with HousingWire and discussed his transition from CTO to CEO. He also clarified the strategy behind the layoffs and shared his focus on market implementation and lowering barriers for new customers. 

Editor’s Note: This interview has been edited for length and clarity

Sarah Wolak: Vikas, you’re officially one day into being the CEO of Dark Matter. What is changing the most for you beyond the title and the scope of the position?

Vikas Rao: As the CTO of Dark Matter. I was very much driving our AI and technology strategy. I’ve also worked in product roles in the past, so I was also deeply involved in our product direction. What changes as I take over as CEO now is also how we take what we’re doing from a product and technology perspective into the market.

One of my core intentions is to lower the barrier to entry for new customers who want to adopt our platform, and really bring a technology and an automation lens to all aspects of the organization. We have 94% adoption of AI within Dark Matter; we’re not just deploying AI for our customers, but within our own organization, we’re using it to write code, to test software … so it’s pervasive.

It’s just how we operate, how we deliver our product innovations to our customers, as well as lowering the barrier of entry for new customers who want to join our customer base. So that’s kind of the shift in how we operate that will be changing as I take over the CEO role.

Wolak: The company previously mentioned that it plans to turn tech investments into stronger commercial performance. Can you talk more about what you mean by that, and what success looks like over the next year or two?

Rao: As I mentioned, we have incredible products, and we’re doubling down on our strategy. We recently unveiled our direction at our Horizon conference to our customer base, and the reception could not have been more positive.

What we’re really doing is kind of shaping where lending is going, and we’re doing that before sometimes our customers are ready for it. We want to lead our customers and the industry where technology’s going, where lending and its paradigm are going to be. By doing so, that naturally translates into growth and expansion.

Our Aiva platform — which is our AI-based document recognition, data extraction, and all of the income asset analysis that happens — is now being embraced by some of the largest lenders on our platform. We think every single lender out there should have it because the ROI on it is undeniable.

We believe in making sure our customers have the best ROI from our product, and the commercial performance and the growth of our company are going to be byproducts of that. So the focus for us is to innovate and help our customers adopt it. It’s very much customer first in everything we do, and everything else is a byproduct of that.

Wolak: I would be remiss if I didn’t ask about the 5% reduction in force or about Sean Dugan. Is he still with Dark Matter or has he transitioned to a different role?

Rao: He has transitioned out of Dark Matter.

Wolak: Can you share which roles specifically were impacted by the reduction in force and why the decision was made? How many people did this impact?

Rao: The reduction in force, fundamentally, is a reflection of how we see the nature of work shifting. I mentioned we are using AI extensively within our own organization, and so for a lot of our people, the nature of work has shifted from doing to reviewing.

Right now, AI is doing the work. Then our developers, etc, come in and see what AI did, and then review and accept it. The reductions were more from a perspective of now, we can do a lot more through automation and AI to develop, test and deliver our products. So the reductions were to kind of mirror the efficiencies we have gained just from an operational perspective as an organization. We’re a little over 1,000 people, so it affected 5% of that.

Wolak: Can you go deeper into how this organizational shift aligns with the priorities of Dark Matter going forward?

Rao: I think the direction of the company, which we unveiled to our customer base at our Horizon conference, remains unchanged. Fundamentally, Empower and Aiva are market-leading solutions that are being used by some of the largest lenders in the country.

Now what we’re doing is embedding agentic experiences into all of these products. So that is a critical priority for Dark Matter; we will be unveiling a lot more of that throughout this year and next year. So that direction remains unchanged, and again, we strongly feel like we have the right team in place to drive that transformation.

The nature of work for us is shifting. Mortgage lending needs to make that same transition.

Wolak: Which products do you feel that Dark Matter customers are getting the strongest ROI from right now?

Rao: Empower is the foundation; automation has been part of it for a long time. I think where our customers are now seeing the most ROI is as they also use our point-of-sale platform and Aiva in conjunction as just one suite. It’s not three different products, and this is what happens when you bolt on products from different companies versus an integrated suite that drives our ROI.

The point of sale is all about customer experience, the borrower who is working with the lender. But the lenders also need to see that ROI from the loan origination with the loan fulfillment perspective, because the cost of origination remains extremely high.

This is where Aiva comes in by automating a lot of what an underwriter would do, dramatically lowering errors and time to underwrite, etc., so that the customer is getting a much better experience, a faster closing experience. And the lender, with the power of Aiva embedded into Empower, is having faster, cheaper loan originations. It’s a winning formula, and that’s kind of where we’re seeing the most ROI for our customers when they deploy this as a holistic suite.

I’m incredibly energized by the mission that we’re on, the team that we have at Dark Matter, and the sense of urgency we feel at bringing to life all of these great innovations that are in the hopper right now.

This post was originally published on here. 

eXp Realty is the latest defendant to be brought into the Taylor Real Estate Settlement Procedures Act (RESPA) lawsuit filed against Zillow last fall. 

The Glenn Sanford-founded firm was added to the lawsuit through a second amended complaint filed on Wednesday. 

Originally filed in mid-September in U.S. District Court in Seattle, the lawsuit claims that the portal tricks consumers into using agents affiliated with Zillow through its Flex and Premier Agent programs, resulting in inflated home purchase prices.

In December, the lawsuit was consolidated with a second suit known as the Armstrong suit, which was first filed in early November, claiming that Zillow pressures agents in its Premier Agent and Flex lead programs to steer buyers to Zillow Home Loans for their purchase mortgage pre-approval. Allegedly, agents who send more clients to Zillow’s mortgage arm for their pre-approvals received extra or higher-quality leads in exchange.

In a first amended complaint filed in the consolidated lawsuit in early January, the plaintiffs again claimed that Zillow tricks consumers into using agents affiliated with Zillow through its Flex and Premier Agent programs, resulting in inflated home purchase prices. 

In Wednesday’s second amended complaint, eXp is accused of supporting Zillow’s “fraudulent business enterprise” by allegedly steering clients to Zillow Home Loans for their financing needs. 

According to the complaint, eXp posted “at least 10” videos on its official YouTube channel promoting Zillow’s agent referral and lead generation program. Additionally, lead plaintiff Alucard Taylor claims that an eXp agent represented him in the purchase of his home. 

In an emailed statement, an eXp spokesperson told HousingWire that the firm is aware of the filing and that “eXp has been improperly named in this matter.” 

“Should we be drawn into this litigation, we will vigorously defend against these claims which we believe have absolutely no merit,” the spokesperson added.

In addition to eXp and Zillow, the second amended complaint again names The Real Brokerage and two real estate teams, the Nevada-based GK Properties and the Florida-based Frano Team, as defendants and it adds one new named plaintiff, bringing the total number of named plaintiffs to 12. 

Zillow filed a motion to dismiss the lawsuit in February. The listing portal giant has maintained that the claims in the lawsuit “are false and fundamentally mischaracterize” how the firm’s business operates.

This post was originally published on here. 

The Office of the Comptroller of the Currency (OCC) released its April 2026 enforcement actions on Thursday, which included a consent order against a Chicago-based bank.

The consent order against The Federal Savings Bank of Chicago is tied to alleged violations of Section 5 of the Federal Trade Commission Act, and involve deceptive acts or practices tied to cash-out refinances guaranteed by the U.S. Department of Veterans Affairs (VA). The OCC claims these violations occurred between “at least” 2022 and 2024.

The OCC uses enforcement actions to require banks and institution-affiliated parties to correct deficient practices and address violations. The order states that the bank “neither admits nor denies” the allegations.

The OCC said the conduct involved significant origination fees, higher interest rates and increased monthly payments for borrowers. The office also claims that the bank made misleading statements to customers and sent them deceptive advertisements, which stated the individual had “available funds” and instructed them to contact the bank.

The deceptive statements also allegedly involved employees telling consumers about the terms of VA cash-out refinances and creating the impression that the interest rates or monthly payments would significantly decline within a defined time period.

In reality, the cash-out refinance loans were permanent, fixed-rate mortgages with set monthly payments, and the bank could not guarantee that consumers would be able to refinance into lower rates or payments as represented or implied by employees.

Within 30 days of the order, the bank’s board of directors is required to submit a written progress report to the assistant deputy comptroller. The report is supposed to detail the corrective actions needed to achieve compliance with each article of the order, the specific steps taken to address these requirements, and the results and current status of the corrective actions.

Also within 30 days of completing its review, a restitution consultant must submit a report identifying eligible consumers affected by the misconduct. Within 60 days of receiving the report, the bank must hire the consultant and submit the plan to the assistant deputy comptroller for review and approval.

Within 90 days after the bank pays restitution, the restitution consultant must review whether the bank followed the approved methodology for distributing the payments.

The bank did not respond to HousingWire‘s request for comment at the time of publication.

Aside from the consent order at the Federal Savings Bank of Chicago, the OCC also issued prohibition orders against a former JPMorgan Chase associate banker for embezzling customer funds and a former BMO Bank associate banker for making unauthorized withdrawals from an elderly customer’s account.

The OCC also terminated enforcement actions against CNB Bank & Trust, Generations Bank and a consent order with JPMorgan Chase, according to the release.

This post was originally published on here. 

The New York State Comptroller Thomas DiNapoli is again taking aim at eXp World Holdings, the parent company of eXp Realty, the largest brokerage in the country by transaction side count. 

On Wednesday, DiNapoli, who is a trustee of the New York State Common Retirement Fund, an eXp World Holdings shareholder, called on investors to block the firm’s attempt to move its place of incorporation from Delaware to Texas. 

According to Securities and Exchange filings, the New York State Common Retirement Fund holds nearly 27,000 shares of eXp World Holdings. In total, eXp World Holdings has over 300 investors holding nearly 160 million shares in total.

The firm announced its desire to reincorporate in the Lone Star State in late February. Critics of the firm have claimed that eXp is trying to reincorporate to dodge allegations that the company and its executives enabled the drugging and rapes of women attending recruiting events. 

These allegations stem from lawsuits filed against the company in 2023, which accuse two former eXp agents and top recruiters Michael Bjorkman and David Golden of drugging and sexually assaulting women at eXp recruiting events. The plaintiffs have also sought to hold eXp and some of its executives, including CEO and founder Glenn Sanford, liable for the alleged negligent hiring of Bjorkman and Golden. 

eXp has reiterated to HousingWire that the firm “has zero tolerance for abuse, harassment or misconduct of any kind — including by the independent real estate agents who use our services,” and that it believes the claims against Sanford and the firm “are without merit.”

DiNapoli is urging investors to vote against the proposed move at the firm’s annual meeting scheduled for next Friday. 

In an interview with The New York Times, DiNapoli claimed that eXp has shown “an avoidance of corporate responsibility at the highest levels.” 

“They have not taken these allegations seriously, and they’re just packing up their tents and moving somewhere else hoping there will be less scrutiny and less accountability,” he told The Times. 

DiNapoli’s attempt to block the move comes a little over two years after he called for an independent investigation into the culture at eXp, after The Times published an expose on the sexual assault allegations faced by the two former star agents. 

In response to these allegations, two of the firm’s shareholders, the Los Angeles City Employees’ Retirement System and Building Trades Pension Fund of Western Pennsylvania, filed a lawsuit against eXp in October 2024, claiming that the firm’s leaders had breached their fiduciary duties to shareholders by ignoring red flags of alleged sexual misconduct by agents. 

In an emailed statement, an eXp spokesperson told HousingWire that the decision to reincorporate in Texas “was the result of more than a year of deliberation by our Board, including a special committee of independent directors.” 

“The decision reflects the Board’s considered judgment about the long-term operational and governance interests of the company and its shareholders. We do not anticipate the reincorporation will have any impact on existing litigation, as disclosed in our Proxy Statement filed with the SEC on March 9, 2026, which describes in detail the Special Committee process and the Board’s conclusions,” the spokesperson wrote. “Any characterization of the timing as ‘suspect’ misrepresents a lengthy, good-faith process and a misunderstanding of the reincorporation impacts on existing litigation.”

This post was originally published on here. 

A meaningful shift is underway in residential real estate—and most agents aren’t paying attention yet.

This change isn’t about AI writing listing descriptions or generating social media posts. It isn’t about CRMs or lead generation platforms. Those tools are already widely used and, in many cases, interchangeable.

The next evolution is more tangible: physical, AI-enabled assistants operating inside the home itself—assigned to a single listing from launch to close.

This will not replace skilled real estate agents. It will redefine what full-service actually means.

The hidden stress of selling a home

Real estate professionals tend to focus on negotiations, pricing strategy and marketing exposure as the core challenges of selling a home. Sellers experience something very different.

What they remember most is living in a property that has to remain show-ready at all times.

Laundry can’t stay in the basket. Shoes can’t stay by the door. Pets have to disappear before showings. Meals are reconsidered. Children’s routines are disrupted. And the request always seems to come at the worst possible moment: “Showing in 30 minutes.”

Selling a home isn’t stressful because of the transaction. It’s stressful because sellers lose control of their daily lives while the home is on the market.

That is the problem the next wave of real estate technology will solve.

From static listing to managed environment

Consider what happens when a listing includes a dedicated, on-site assistant responsible for preparing the home before every showing, managing access, monitoring conditions and maintaining a consistent standard of presentation.

Lighting adjusts automatically. Climate is controlled. The property is staged appropriately. Contractor access is coordinated. Marketing materials are maintained. Buyer activity is tracked and feedback is captured in real time.

What used to require constant coordination between agents, sellers and vendors becomes a managed system operating inside the home itself.

The core technology already exists. Smart home systems, identity verification, remote access and automated scheduling are widely trusted and in daily use.

What’s been missing is integration and physical presence.

When that arrives at scale, listings will stop being static assets. They will become actively managed environments.

While the physical assistant layer is still emerging, the underlying behavior is already visible. Buyers are scheduling showings through automated platforms like ShowingTime. Sellers are monitoring their homes remotely through Ring and Nest devices. Access is being controlled digitally and feedback loops are increasingly immediate.

In other words, the industry has already accepted automation at every step—just not yet in a unified, physical form inside the home itself.

A new standard in listing presentations

For years, listing presentations have sounded nearly identical: professional photography, online exposure, email campaigns, and open houses.

These are no longer differentiators. Now consider a different proposition: A listing supported by a system that ensures the home is prepared, monitored, and professionally maintained every day until it sells.

That isn’t marketing. That’s infrastructure.

And infrastructure resets expectations quickly. Professional photography followed this exact path, from premium to standard in a short period of time. The same will happen here.

The first agents and brokerages to adopt this model won’t just improve their service. They will reset what sellers expect from every agent who follows.

The buyer experience improves as well

This shift isn’t just about sellers. Buyer’s agents and buyers prefer homes that are easy to show and ready to purchase.

A consistently prepared property eliminates friction. There are no last-minute surprises, no access issues, and no uncertainty about condition.

Showings become faster, cleaner, and more predictable.

That consistency leads to more showings. More showings lead to more offers. And more offers lead to stronger results.

Solving the scaling problem for listing agents

Most listing agents can manage a limited number of active listings before service begins to slip.

Showings get missed. Feedback is delayed. Contractors fall out of sync. Sellers become anxious. Communication slows.

This is not a skill issue. It’s a capacity issue.

This pressure is already showing up in the numbers. According to the National Association of Realtors, agents are handling more complex transactions with longer days on market and more frequent price adjustments in a normalized market cycle. At the same time, consumers expect faster communication, better presentation, and a more seamless experience.

The gap between what clients expect and what a single agent can operationally deliver continues to widen. Systems—not effort—are what close that gap.

When each listing includes its own operational system, the model changes. The listing no longer depends entirely on the agent’s time and coordination. It begins to manage itself.

The agent shifts from handling logistics to guiding decisions. From coordinating vendors to advising strategy. From reacting to problems to leading outcomes. This is the role sellers believe they are hiring in the first place.

From optional feature to expected standard

Adoption will follow a familiar pattern. At first, this will feel optional. Then it will feel impressive. Then it will become expected.

The industry has seen this before with online listings, digital signatures, and professional media. Once the infrastructure exists, expectations adjust quickly.

Soon, sellers will begin asking a new question during listing interviews: What systems are in place to manage my home while it’s for sale?

As this shift unfolds, brokerages will begin to differentiate based on the systems they deploy.

Some will build proprietary platforms. Others will partner with providers. Luxury brokerages may offer concierge-level systems. Other segments will adopt more streamlined versions.

The distinction will no longer be just about marketing reach or brand. It will be about operational capability.

The next competitive advantage

For decades, agents have competed on marketing. The next competitive advantage will be infrastructure.

Agents who understand this early will position themselves differently—and win accordingly. Because as homes become more intelligent and more responsive, the seller’s question changes: Not just, “How will you market my home?”

But, “How will you manage it while it’s for sale?”

And the agents with a clear, confident answer will win the listing.

Tim and Julie Harris are real estate coaches, bestselling authors and the dynamic voices behind Real Estate Coaching Radio, a daily podcast for real estate professionals. With decades of hands-on experience, they help agents build profitable, sustainable businesses through proven, practical strategies. Listen daily at TimandJulieHarris.com or on your favorite podcast platform.

This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners.

To contact the editor responsible for this piece: tracey@hwmedia.com

This post was originally published on here. 

In the wake of the Sitzer-Burnett lawsuit and the National Association of Realtors (NAR) settlement, consumer advocates claimed a major victory. Their long-standing theory — decoupling commissions so buyers pay their own agents — was supposed to lower housing costs and create a more competitive marketplace.

It hasn’t.

In fact, recent analysis from the Consumer Federation of America (CFA) — the very group that championed decoupling — acknowledges a fundamental reality: While a few more sellers are a bit more inquisitive about how commissions are paid and a very select few decline to pay buyer agent commissions, and in most cases sellers are still paying the buyer agents commission.

In addition to that the home prices haven’t come down at all due to this and the transactions are not cheaper. The promised savings for consumers have simply not materialized.

That should prompt some reflection

Instead, we are seeing a familiar pivot. The blame is once again being placed on real estate agents — accused now of failing to negotiate aggressively enough. But this argument conveniently ignores the most obvious force in any housing transaction: the seller’s price. In a market constrained by supply, with persistent demand and high construction costs, the idea that shifting who pays commissions would meaningfully lower home prices was always more theory than reality.

Let’s be clear: the Burnett-Sitzer lawsuit and the resulting NAR settlement are not transformational reforms. They are, at best, a rearranging of the deck chairs on the Titanic, changing the structure of how fees are presented without addressing the underlying economics of the housing market.

Decoupling does not create more housing. It does not reduce land costs, labor shortages or regulatory barriers. It does not make financing cheaper. What it does do is shift costs around in a way that may ultimately disadvantage buyers — particularly first-time and moderate-income households.

For decades, one of the quiet strengths of the existing system was that buyer representation could be financed through the transaction itself. Decoupling risks turning that into an upfront, out-of-pocket expense. For many buyers already struggling with down payments, closing costs and rising interest rates, that additional burden may discourage them from seeking professional representation altogether.

That is not a win for consumers

It is also worth noting emerging unintended consequences. Reports of increased “pocket listings” — properties marketed privately or within limited networks — should concern anyone who cares about transparency and fair access. A fragmented marketplace benefits insiders, not everyday buyers.

Where does this leave us?

The CFA’s own findings undermine their central claim. If decoupling does not lower prices, and early evidence suggests it does not, then what exactly was achieved? Consumers were promised savings. Instead, they are facing a more complex, less transparent system with no clear financial benefit.

This is a classic case of policy driven by theory rather than practice.

Consumer advocates meant well. The goal of reducing costs and improving fairness is one we all share. But good intentions do not guarantee good outcomes. In this case, the push for decoupling may have disrupted a system without delivering the benefits that were promised.

There’s an old saying in public policy: be careful what you ask for.

We would be wise to heed it now.

Joseph Ventrone is the former Vice President of Federal Policy and Industry Relations at the National Association of Realtors (NAR). He serves as a voluntary consultant to NAR, a member of the Arlington County Housing Commission, and President of the North Rosslyn Civic Association. The views expressed are his own.

This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners.

To contact the editor responsible for this piece: tracey@hwmedia.com

This post was originally published on here. 

The Mortgage Bankers Association (MBA) on Friday submitted a letter to the Consumer Financial Protection Bureau (CFPB) to support the bureau’s proposed 2026–2030 strategic plan, backing efforts to reduce regulatory burdens while urging the agency to go further in easing mortgage rules that expand credit access.

The draft strategic plan, which the CFPB published for public comment on March 13, outlines the agency’s three primary goals: addressing pressing threats to consumers; reducing what it describes as unwarranted regulatory burdens; and strengthening the agency’s governance and culture. The public feedback submission period ended on Friday.

Under the first goal, “Address Pressing Threats to Consumers,” the bureau said it will focus enforcement and supervision on “tangible” consumer harm, particularly cases involving measurable financial losses.

The goal involves several objectives to combat fraud; protect servicemembers and veterans in the U.S. Department of Veterans Affairs (VA) loan space; and ensure what it calls “fair banking,” including scrutiny of potential “debanking” practices tied to political or ideological factors.

The agency also signaled a shift in enforcement priorities, stating it intends to return money directly to affected consumers rather than relying on fines that feed into its civil penalty fund.

The second goal, “Reduce Unwarranted Regulatory Burdens,” includes several objectives, including the need to “systemically identify and address outdated, unnecessary, or unduly burdensome regulations,” and to “minimize regulatory burden by eliminating duplicative supervision or supervision outside of the CFPB’s authority.”

“MBA agrees with the aim of the strategic plan to concentrate the CFPB’s resources on identifying and addressing pressing threats to consumers, reversing instances of regulatory overreach, and lowering the compliance and liability costs associated with consumer financial products,” Pete Mills, the MBA’s senior vice president of residential policy and strategic industry engagement, said in the letter.

The trade group praised recent CFPB actions that align with these goals, including the rollback of a proposed rule requiring certain nonbank firms to report enforcement orders to a federal registry that became effective in October 2025.

It also backed the bureau’s move away from “regulation by enforcement,” saying it supports limiting enforcement to cases involving clear, measurable consumer harm.

MBA urged the CFPB “to incorporate the Trump administration’s recent executive order on mortgage credit and to ensure any regulatory relief is applied broadly across the market — not limited to smaller banks — so borrowers across all lender types can benefit from lower costs and improved access to credit.”

MBA pressed for adjustments to TRID tolerance thresholds, as well as expanded error-correction provisions and reforms under the Truth in Lending Act and Real Estate Settlement Procedures Act (RESPA), warning that limiting changes to smaller institutions would reduce their impact on costs and access to credit.

The group also called for changes to servicing rules to ease loss mitigation, revisions to loan originator compensation standards, and updates to disclosure and underwriting requirements.

The CFPB has been undergoing major restructuring under the second Trump administration. After former CFPB Director Rohit Chopra was fired from his position and Russell Vought was appointed as acting director, the agency shut down most of its functions and closed its headquarters.

In April 2025, the Trump administration fired 90% of the CFPB’s staff, a move that was challenged in court and temporarily blocked. In August, a federal appeals court panel allowed the firings to proceed, leading to layoffs of about 1,500 employees.

While the agency has not officially been dismantled despite Vought’s announced plans, it has paused most enforcement actions, dropped investigations and started rolling back Biden-era rules.

This post was originally published on here. 

Redfin is asking Northwest Multiple Listing Service (NWMLS) to revise its rules to allow a formal premarketing phase for listings in the Seattle area, arguing that current policies limit how sellers can test pricing and demand before going fully live on the MLS, according a blog post written by Joe Rath, the head of industry relations at Redfin’s parent company Rocket, on Thursday.

NWMLS’s rules currently do not allow for premarketing, preventing brokers from publicly marketing a home before it appears in the MLS. Redfin says that restriction conflicts with what many of its sellers want: a short “runway” period to gauge interest on a public platform before committing to a full launch.

The request comes ahead of a new Washington state law on private listing networks that takes effect in June. The law will require agents to market homes to the general public and all brokers at the same time. Redfin’s position, according to Rath, is that premarketing is compatible with the statute as long as the listing is publicly available to any buyer or agent, the seller gives informed consent for the premarketing and that brokers have access to the listing information. 

Redfin’s proposal is to create an explicit premarketing status within NWMLS. Under that framework, a listing would be filed with the MLS and visible to all member agents, preserving cooperation, while the seller and listing agent would retain more control over how the property appears publicly and when it transitions to fully active status. 

Across the country, many MLSs have some sort of coming soon status, which may or may not be part of the IDX data feed the MLS sends to sites like Redfin and Zillow, allowing for sellers and their agents to pre-market a property within the MLS prior to the listing going active. 

In the post, Rath noted that large MLSs including Bright MLS, MRED in Chicago, Unlock MLS in Austin, Canopy MLS, Realtracs and MLS PIN have already adopted seller-choice frameworks that incorporate some form of premarketing or coming soon status. Those policies generally aim to balance anti-pocket-listing rules with seller preferences to “test” the market.

“I’ve had sellers who just want a little runway before going fully live. Premarketing gives them that space to test the waters, get feedback, and feel confident in their next move,” Redfin agent Macartney McQuery is quoted as saying in the post.

The post highlighted a Tacoma case in which McQuery used a coming soon listing on Redfin.com for a unique 1800s home with few direct comparables. Redfin argues that the premarketing period allowed the seller to gauge interest and refine timing before listing the property in the MLS.

According to the blog, Redfin leaders have held “productive conversations” with NWMLS leadership, who have signaled a willingness to consider the proposal. Any change would likely require NWMLS to adjust how it defines public marketing and to clarify how its rules align with the new state law.

“Policies that give sellers more flexibility can encourage more homeowners to list, which can help increase inventory and give buyers more options,” Rath wrote in the post.

This post comes after Compass International Holdings (CIH), the parent company of Compass, the Anywhere Brands and @properties Christie’s International Real Estate, along with Rocket-Redfin, penned an open letter urging MLSs to adopt policies that support pre-marketing and phased marketing distribution and to cease penalizing or punishing agents for carrying out “seller-directed marketing plans.” 

The letter came just a few weeks after the companies entered into a mutually exclusive deal to publish Compass coming soon listings on Redfin.

Compass and NWMLS are currently embroiled in a legal battle over NWMLS’s listing policy, which requires listings to be entered into the MLS within 24 hours of the listing being publicly advertised and does not have an exemption for office exclusive properties. Earlier this month, NWMLS filed a counter claim against Compass alleging that the brokerage’s “three-phase marketing program” is a deceptive scheme that hides listing data from the public and violates Washington’s Consumer Protection Act.

This article was written by Brooklee Han and generated with the assistance of HousingWire Automation. It was reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.

This post was originally published on here. 

Title and escrow has long operated under the weight of manual processes and fragmented systems. Now, a new class of technology, agentic AI, is beginning to fundamentally transform how work gets done across the industry, driving greater speed, precision, scale and service.

The next evolution of artificial intelligence, agentic AI, does more than generate content in response to prompts. It understands context, reasons across sources and executes tasks, serving as a proactive teammate to human experts.

Title and escrow is well poised to benefit from agentic AI. The industry depends on document-heavy, strict-timeline workflows that demand accuracy across hundreds of steps. That’s an ideal environment for AI agents to reliably execute repetitive, time-consuming tasks while delivering business-building intelligence.

In fact, it’s already happening. Early adopters in title and escrow are seeing meaningful gains in velocity, efficiency, accuracy and overall operational excellence. An analysis found that Qualia Clear, an agentic AI system built specifically for the title and escrow industry, can reduce the time to process a file by 35% to50%, while enhancing work quality. For firms handling 1,200 transactions annually, that translates to approximately $325,000 in time savings value per year.¹

“The firms that embrace agentic AI purpose-built for the title and escrow industry are going to operate faster, cleaner and with better margins,” says Mike Rubin, President of Shaddock National Holdings, the largest collective of independent title insurance agencies in the United States. “The ones that don’t will wake up one day and realize they can’t compete.”

So, how are firms applying the technology today? We answer that here.

Get out of the inbox much faster

With more than 100 emails tied to each transaction, managing the inbox is an operational bottleneck for title and escrow. Agentic AI is reducing that friction, slashing the time industry professionals spend on email.

Agentic systems like Qualia Clear can respond to emails and draft proactive messages. They can also organize inboxes by topics, urgency and new business. Of critical importance, the systems can take action, like opening new orders, as well as extracting key details from messages and attaching that information to the appropriate file.

The upshot is that title and escrow professionals can respond to emails up to three times faster, research shows, while also spending less time managing email and raising the standard of their work. 

“The ability to streamline communication and reduce manual follow-up allows us to focus on the more complex aspects of our files,” says Lindsey Mendoza, Director of Operations at the Law Offices of Elizabeth A. Byrne LLC, a Saratoga Springs, NY-based real estate law firm. “It not only saves us a significant amount of time but also ensures our clients and partners receive timely and consistent updates, which elevates the entire closing experience.”

But email is only one piece of the operational puzzle.

A powerful new operational engine

Another positive impact of agentic AI is the emergence of a new way of managing work that can execute tasks, monitor quality in real time and dynamically orchestrate workflows.

Within platforms like Qualia Clear, specialized AI agents will be able to handle processes such as retrieving property tax data, verifying business entities and helping coordinate with vendors to handle mortgage payoff or HOA information. At the same time, real-time quality assurance flags missing requirements, data mismatches and calculation discrepancies as they occur, which allows teams to resolve issues earlier and avoid downstream problems. 

Workflows themselves are accelerated and enhanced. Agentic AI can trigger tasks automatically based on file conditions or timelines, while firms can embed their own business rules into how work is completed. Intelligent queues help teams prioritize what matters most.

On the analytics side, the right agentic system for title and escrow will surface insights into referral performance, market share and growth opportunities, turning operational data into a launchpad for strategic action.

Importantly, the AI doesn’t remove human expertise. It empowers it. Teams remain in control, serving as expert reviewers with full visibility into every action.

The proof is in real-world results

For some title and escrow firms, these capabilities are already redefining performance benchmarks.

At Washington-based AEGIS Land Title Group, examiner capacity doubled from 10 commitments per day to 20 after instituting an agentic AI platform. At the same time, the firm achieved full file audit coverage, reducing the risk of missed errors.

Then there’s North Carolina-headquartered Thomas & Webber. Client communications had tripled, increasing operational risk and reducing closer capacity. After deploying agentic AI to automate email drafting, file actions and help with accuracy checks, the firm restored capacity to 40 files per month—a 33% increase—and avoided an estimated $117,000 in annual hiring costs.

“AI is changing so rapidly,” says Tiffany Webber, Managing Attorney at Thomas & Webber. “The longer you wait, the firms that have adopted AI will be that much further ahead.”

Meanwhile, The Title Group was looking to reduce risk associated with manual reviews/audits, while improving efficiency and scaling quality control. The Tennessee-based firm implemented an agentic AI system for real-time quality assurance. Files are now audited in seconds rather than hours, and each receives a comprehensive review.

Why a unified platform is pivotal

Realizing the full potential of agentic AI requires more than standalone technology tools. It depends on deep access to industry knowledge and each transaction itself—documents, data fields, workflow status and more—combined with the ability to take action within that environment.

This level of visibility and execution is difficult to achieve across fragmented systems that operate through complex external integrations. It becomes a reality within unified, cloud-based platforms made for title and escrow.

By embedding agentic AI directly into the title production environment, platforms like Qualia Clear can analyze files, initiate actions and maintain context across the full lifecycle of a transaction.

“This combination of industry knowledge, full data access and ability to take action is what enables agentic AI to dramatically elevate how title & escrow work gets done,”

— Charlotte Brown, Vice President of Product & Design at Qualia

Firms that embrace agentic AI now will lead the next era of title and escrow

For decades, title and escrow has relied on human expertise to manage extraordinary complexity under intense pressure. That hasn’t changed. What is changing is the operating layer around that expertise. 
Agentic AI can now take on much of the repetitive, time-intensive work—tracking, analyzing and executing across workflows. The result is more capacity for human judgment, stronger decision-making and a higher standard of execution. The technology is already delivering measurable results. And as underlying AI models like Claude and ChatGPT continue to advance, the capabilities of industry-specific agentic platforms built on them will accelerate in step.

“In 2026, agentic AI will advance faster than any technology the title & escrow industry has ever seen,” says Nate Baker, CEO & Co-Founder, Qualia. “The next year will usher in the most consequential transformation the industry has ever experienced.”

To stay at the forefront of AI in title & escrow, register now to attend Qualia’s 2026 Future of Real Estate Summit, April 27-29, in Austin, TX.

Footnote: 1. Time savings estimates are based on analysis of the 2024 ALTA report, “More than pushing a button: Estimating the time and complexity of clearing title,” which found an average of 22 hours to complete a file. Qualia applied a conservative 30% adjustment, then evaluated time savings based on customer feedback, product data, and internal analysis. Every company’s results will vary based on the current state of their operations and the extent to which they adopt Qualia Clear.

Register Now

This post was originally published on here. 

The mortgage industry is no longer debating whether AI has a role to play. That part is over. The real conversation now is about what kind of AI can work inside a business where decisions must be documented, policies must be followed, and every workflow may eventually be reviewed by risk, audit, or compliance. That is where AI agents are starting to get attention. 

Unlike basic AI assistants that summarize content or answer questions, AI agents are designed to handle tasks within a workflow. In mortgage, that could mean reviewing incoming documents, identifying missing conditions, checking for data inconsistencies, drafting borrower follow-ups, surfacing exceptions, or recommending next steps to processors and underwriters. The appeal is obvious. These tools can reduce manual effort, improve speed, and help teams focus on the cases that need the most judgment. But in mortgage, speed alone is never enough. If lenders want AI to move from experiment to production, they need to build systems that compliance teams can trust.

AI in mortgage needs structure, not just intelligence

One of the biggest mistakes companies make is treating an AI agent like a smarter version of a bot. That mindset is risky in any regulated industry, but especially in mortgages. A mortgage AI agent should not be a vague digital helper that can do a little bit of everything. It should have a clearly defined job, a narrow operating boundary, and a visible record of what it did and why it did it. AI agents in regulated financial institutions need distinct identities, explicit authority, and full auditability rather than being treated like generic automation running under the hood. 

That same thinking applies directly to lending. If an agent is being used to review asset documents, then its role should be limited to that purpose. If it helps with condition management, then it should stay within that lane. The more specific the task, the easier it becomes to validate performance, define controls, and explain outcomes to stakeholders who are rightly cautious.

Read first, act later

A practical way to build trust is to separate what an agent can read from what it can change. It translates well to mortgage operations. Most agents should be read-focused. They should gather information, compare documents, identify gaps, summarize findings, and recommend actions. A much smaller set of agents should be allowed to write back into systems, update statuses, or trigger workflow changes. Even then, those actions should often remain behind human approval gates. That distinction matters in real lending scenarios.

For example, a read-oriented agent could review an uploaded pay stub, compare it against checklist requirements, and flag that the coverage period appears incomplete. That is helpful and low risk. But changing a milestone, clearing a condition, or sending a customer-facing notice is very different. Once AI starts acting rather than making recommendations, the standard of governance gets much higher.

Lenders that get this right will not try to automate everything at once. They will start by using AI to improve visibility, reduce repetitive review work, and support human decision-making before they expand into controlled action.

Compliance teams need more than an answer

In mortgage, “the model said so” is not a real answer. If an AI agent flags a file, recommends an escalation, or suggests that a loan is ready to move forward, the business needs to understand how it reached that conclusion. Regulated institutions need causal traceability, meaning they must be able to reconstruct what data the agent used, what logic it applied, and how a decision was formed. 

That idea is especially relevant for mortgage lenders. Compliance, QC, capital markets, and servicing teams all care about different things, but they share one expectation: important actions should be explainable. If a loan document was marked insufficient, there should be a reason. If a borrower communication was recommended, there should be a basis. If an exception was surfaced, there should be a trail showing which policy rule, document fact, or workflow signal drove that output.

The best mortgage AI systems will not be the ones that sound smartest. They will be the ones who produce structured, understandable explanations in business language.

Trust is what turns AI into an advantage

The mortgage companies that get the most value from AI will not be the ones that deploy the flashiest demos. They will be the ones who take the time to build useful, bounded, well-governed agents into real workflows. That means starting with specific tasks. It means favoring read and recommend before write and execute. It means giving compliance and risk teams visibility into how outputs are produced. And it means proving performance in stages before expanding autonomy. Mortgage does not need AI agents that look impressive in a product presentation. It needs AI agents that can hold up in operations, in audit, and under compliance review. That is a higher bar. But it is also the bar that matters.

Sandeep Shivam is Head of Touchless Experience Product Suite of Tavant.
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners. To contact the editor responsible for this piece: zeb@hwmedia.com.

This post was originally published on here. 

Republican lawmakers in Kentucky sought to put the state on the housing reform map with sweeping legislation to boost construction and curb rising costs. But the package collapsed in the final hours of the state’s legislative session this week, and housing advocates warn the state’s housing shortage will deepen without swift action.

Kentucky’s failure shows how difficult housing politics remain even as other states manage to pass modest reforms.

“The Kentucky Senate has chosen politics over the people and passivity over good policy,” Heather LeMire, director of conservative advocacy group Americans for Prosperity-Kentucky, said in a statement. “The people of Kentucky deserve a better shot at the American Dream through homeownership.”

The omnibus measure, built around Senate Bill 9, bundled more than eight proposals to expand housing supply, streamline permitting and create new tools for local governments to support development. A conference committee could not bridge divisions between the House and Senate before adjournment, dooming the proposal for the year.

Sen. Robby Mills, who sponsored SB 9, told local reporters that negotiators ran out of time as they struggled over a controversial short-term rental provision that would have blocked cities and counties from heavily restricting short-term rental properties listed on platforms such as Airbnb.

“The Senate and House simply could not agree at the end of the day,” Mills said, calling the short-term rental language “one of the stickier points.”

Some Republicans joined Democrats in opposing that section, reflecting unease over state preemption of local rules.

Fixing a housing crisis falls short

Advocates and lawmakers spent months pushing for a major housing package to address the state’s housing shortage, which a 2024 legislative task force put at 206,000 units, split evenly between rental and owner-occupied homes.

Last year, state lawmakers made a less aggressive attempt with two bills. One would have allowed faith-based organizations to build housing by right on the property they own.

That change has gained favor elsewhere in the country. But the bill did not pass in Kentucky last year because lawmakers worried about preempting local zoning control.

The other bill passed and became law. It allows cities and counties to issue industrial revenue bonds for multifamily projects with at least 48 units by redefining a “building” to include large condominiums, townhouses and apartments. The law also restricts zoning and planning appeals to owners of property that directly borders a site affected by a final decision.

Added language became too much

This year, Kentucky lawmakers chose an omnibus approach. The original SB 9 would have allowed local governments to designate special building zones, lower regulatory barriers and tap new financing tools to kickstart construction in targeted areas.

In the final days of the session, lawmakers added provisions. These included language requiring automatic expungement of dismissed eviction filings, along with protections to keep children from being named in eviction cases that can follow tenants for years. Those measures drew support from tenant advocates, who argued they would prevent minor court actions from becoming long-term barriers to stable housing.

But other parts of the bill raised alarms among some Democratic lawmakers and local officials, who said the package moved too far and too fast in rolling back safeguards and local discretion.

Under one section, local regulators would have had to inspect properties within five days and review building plans within 10 days. If they missed these deadlines, they would have had to issue temporary permits allowing work to begin immediately and refund all application fees.

Critics said that approach could allow projects to move ahead without adequate review and further strain already thin inspection staffs.

This post was originally published on here. 

Growing up in poverty in Chicago, Realty of America founder and CEO Eddie Garcia, remembers going to the Archdiocese of Chicago on Tuesdays each week as a child to pick up a small box of food for his family. 

“I came from extreme poverty,” Garcia said. “Both of my parents were homeless, living under highway overpasses in Mexico City. We came to America when I was three, and we arrived to a one-bedroom apartment that we shared with 11 people.” 

Gracia said this experience growing up defined who he is now and why he wanted to chase his version of the American dream.

“When I was 16 or 17, I decided that there was no way I was going to repeat the cycle of poverty,” he said. “I wanted to change my life. I believe we are in the greatest country in the world and if you want to chase your version of your American dream, you can do it here because there is fairness. America doesn’t care where you come from.” 

Initially, Garcia believed a law degree was his path to a brighter future, but after meeting a successful real estate agent in his neighborhood, he decided to drop out and pursue a career in the housing industry. 

“Once I got my license, I didn’t sell anything for the first six months. Once I sold something, my broker didn’t pay me,[but] I still realized that I had found a way to make money. I thought that if I could scale it and replicate it, I could become very successful very fast,” Garcia said. “So, I went from 20 homes to 40 homes to 50 homes in a year. In my best year as a single agent, I sold 104 houses.” 

Founding Realty of Chicago

Garcia said he spent the next nearly two decades “married to his business,” founding his first firm Realty of Chicago in 2012.

“A lot of the same people I grew up with saw my success and wanted to become agents, so I told them to get their license and find a brokerage to work at and we could do masterminds. But they all wanted to work with me, so I opened Realty of Chicago,” Garcia said. “We started from zero and grew to about 400 agents doing 12,000 transactions a year.” 

In 2023, Garcia had an idea for his next venture: a national brokerage firm. This led him to approach Houston-based real estate team leader, Mark Dimas. In 2023, Dimas’s team was the No. 1 large team in the country by transaction side count in the RealTrends Verified Rankings. 

“As I grew Realty of Chicago, I started making friends throughout the country who were building their own businesses and we would mastermind, but I knew that the model I had in Chicago would not scale in some of these other cities,” he said. “Mark Dimas was the first person I spoke with about Realty of America because who better to talk to about my crazy idea than one of the top agents in the U.S.?” 

Launching Realty of America

To Garcia’s surprise, Dimas decided to join him in building Realty of America, a virtual, cloud-based firm which officially launched in September 2024. 

“We made lists of the top-50 agents that we admire, not because they are just great [real estate agents], but because they are great humans and business people. We started reaching out to them and meeting with them,” Garcia said. “We went to a conference in Miami and met with several one-on-one. Then, within two days, we had solidified the starting seven agents we wanted to build the company with.” 

These agents quickly went to work, and in 2025, Realty of America closed 9,374 transaction sides, totaling $3.82 billion in sales volume, according to RealTrends Verified data. This earned the firm the No. 42 rank in the nation for sides and the No. 61 rank for volume in the 2026 RealTrends Verified Rankings in just its first full year of operation. Garcia said the firm currently has over 3,100 agents and is open in 22 markets, with launches in Nashville, Michigan and Puerto Rico expected in the coming weeks. 

Central to Realty of America, according to Garcia, is the firm’s revenue share model, a model which he feels is the future for real estate brokerages. Ultimately, Garcia would like to take the firm public. “We are still a little small, so I’d love to wait until we have 12,000 to 15,000 agents and are debt-free and profitable,” Garcia said. “We have not taken any investor money, and we are not going to until we IPO. We’ve watched some of these other companies before us, and we don’t want to make the same mistakes.”

“I’d love to wait until we have 12,000 to 15,000 agents and are debt-free and profitable,” Garcia said. “We have not taken any investor money and we are not going to until we IPO. We’ve watched some of these other companies before us, and we don’t want to make the same mistakes.”

In addition to the firm’s expansion, Garcia is also proud of the technology Realty of America is developing, having already built its own application, as well as consumer and agent platforms. He said he would like Realty of America to own at least 60% of the technology it uses before he takes the company public, hopefully in the next few years. Garcia said Realty of America was already approached by a sponsor to do an IPO, but he feels the company is still too new to make the jump.

“I think in the next five years, we will see the majority of agents become part of a revenue share model, which means that roughly 160,000 agents will move to revenue share a year, which is a massive opportunity for us,” Garcia said. 

Finding leaders to scale the firm

While attracting agents is certainly a goal, Garcia said he is “uber focused” on finding the right leaders to help him scale the company and reach their goals. 

“We have a great executive team with a lot of people from eXp and Real Brokerage, who helped scale those operations,” Garcia said. “With my business, I don’t want to be the smartest person in the room. I want to get people that are way smarter than me.” 

Garcia’s story is less about a single breakout moment and more about a steady refusal to accept limits — whether in his own life or in the way brokerages operate. As Realty of America scales, its success will hinge on whether that same scrappy, people-first approach can translate across markets without losing its edge.

For now, Garcia is betting that alignment — through leadership, technology and revenue share — will prove more durable than traditional models. And if his track record is any indication, he’s not building for the next quarter, he’s playing the long game.

This post was originally published on here. 

Real estate commissions for first-time homebuyers have barely budged since the National Association of Realtors’ (NAR) commission lawsuit settlement, while the rising popularity of pocket listings and worsening affordability are creating new access hurdles, according to survey of housing counselors from the Consumer Federation of America and the National Urban League, released Thursday. 

Authored by Sharon Cornelissen, Katie McCann and Ethan Weiland, the study, titled “Escalating Housing Costs, Hidden Listings,” draws on survey responses from 223 housing counselors across 37 states collected in July and August 2025, roughly a year after the business practice changes outlined in NAR’s settlement took effect. Researchers also conducted nine in-depth interviews with housing counselors, who provide individual guidance to first-time homebuyers and educate consumers in homebuyer classes.

The authors claim that their findings offer an early look at how the landmark settlement and shifting brokerage practices are affecting first-time buyers in an already constrained market.

Commissions largely unchanged despite decoupling

Only 7% of counselors surveyed said their first-time homebuying clients are paying lower real estate commissions than a year earlier. A larger share, 36%, disagreed with the belief that commissions have fallen and 28% were neutral, suggesting commission levels have remained stable or edged higher.

The report notes that this aligns with internal data from Redfin, which shows buyer’s agent commissions largely unchanged since NAR’s new rules rolled out in August 2024.

Counselors identified a lack of fee negotiation as a primary reason. Two-thirds of respondents said their clients “never,” “rarely” or only “sometimes” negotiate agent fees. Just 16% said clients negotiate “often” or “always.” In November 2025, a mystery shopped study published by the Consumer Policy Center found that buyer’s agents “make it very difficult for homebuyers to negotiate lower rates,” which may also contribute to the lack of fee negotiations. 

In interviews conducted by the authors, some respondents reported that buyers who try to negotiate commissions risk being labeled “difficult” by agents, which can limit their ability to find representation in tight local markets. That dynamic, the authors argue, points to persistent cultural and structural resistance to price competition in brokerage services even after the settlement.

Buyers more exposed to fees, but deals rarely die over commissions

The survey results suggest responsibility for paying buyer’s agent fees has shifted, at least partially, toward buyers. Just 26% of counselors said sellers “often” or “always” cover the buyer’s agent commission; 53% reported sellers “never,” “rarely” or only “sometimes” pay it.

Still, 47% of counselors said they “never” or “rarely” see a home purchase fail because buyers cannot afford the buyer’s agent commission and receive no seller help. Only 9% said this happens “often” or “always.”

Counselors also reported stepping in to help clients budget for the additional cost, treat buyer-broker fees as part of savings targets and understand the new rules. The data suggest that, to date, the feared widespread exclusion of first-time or low-wealth buyers purely due to buyer-broker commissions has not materialized at scale.

For lenders and real estate brokerages, this implies that while buyer cash-to-close is under more pressure, commission structure changes are not yet a primary driver of fallout. However, the report notes this is an emerging trend that may warrant continued monitoring as consumer awareness and enforcement evolve.

Affordability and inventory dwarf commission concerns

When asked to rank the top challenges facing first-time buyers in 2025, counselors overwhelmingly cited core affordability and supply issues rather than brokerage access, with 88% responding that “saving up for a down payment” is “difficult” or “very difficult” for clients, 73% citing “finding a house that meets their needs” as a major challenge, 70% pointing to paying out-of-pocket costs, 64% highlighting building up credit scores and 50% saying buyers are being outcompeted by other buyers. 

Counselors told researchers that rising home prices, limited stock that can pass inspection in some markets and shrinking down payment assistance were squeezing clients even when they had strong credit or obtained aid. Debt loads from auto and student loans also frequently kept buyers from qualifying for mortgages.

Pocket listings emerge as a fair housing and access risk

The report highlights the growth of pocket or private listings as an emerging concern for first-time buyers and homebuyers of color.

In the survey, 46% of housing counselors said first-time buyers “sometimes,” “often” or “always” struggle with pocket listings. About 31% said their clients “never” or “rarely” experience issues, and 23% answered “don’t know,” which the authors attribute to the relative newness and opacity of the practice.

Pocket listings can keep a portion of inventory within a single firm or network, allowing brokerages to capture both sides of a transaction and reducing visibility for buyers represented by competing firms or searching independently. A recent analysis by Bright MLS cited in the report found that nearly 8% of new listings in February 2025 in its mid-Atlantic footprint started as office exclusives, up from a historical range of 2% to 4%, with some ZIP codes in the Washington, D.C., metro area exceeding 20%.

The brief flags equity concerns, noting prior research that private listings can reinforce segregation and enable discriminatory steering. The National Association of Hispanic Real Estate Professionals (NAHREP) has warned the industry could be on the “cusp of the worst fair housing crisis since the 1960s” if pocket listings expand unchecked.

Housing counselors’ role grows as rules shift

The report also emphasizes the role of the U.S. Department of Housing and Urban Development (HUD)-certified housing counselors as independent advisors. Counselors, who do not earn commissions or origination revenue, work with dozens or hundreds of clients annually, often from early credit-building stages through closing and, in some cases, post-purchase.

The authors argue that as commission structures and listing practices evolve, counselors are serving as key interpreters of new rules for first-time and low-income buyers, developing curriculum on how to select an agent, negotiate compensation and understand contract terms.

According to the report, the continued and stable funding of housing counselors is a consumer protection and market-functioning issue rather than only a social service.

Policy recommendations for data, oversight and counseling

Looking ahead, the study calls for several policy responses targeted at improving transparency and mitigating emerging risks, including things like Federal Housing Finance Agency (FHFA) mandated collection and public reporting of real estate commission data, the monitoring of pocket listings for disparate impact on buyers of color and the funding, training and recognition of housing counselors by HUD. 

NAR did not immediately return HousingWire’s request for comment on the study.

This article was written by Brooklee Han and generated with the assistance of HousingWire Automation. It was reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.

This post was originally published on here. 

The House Financial Services Subcommittee on Financial Institutions held a hearing on Thursday morning examining ways to expand access to credit, with lawmakers also considering several bills aimed at reshaping credit reporting rules and consumer protections.

The hearing, “Promoting Access to Credit for Everyday Americans,” comes as policymakers continue to weigh changes to the credit reporting system amid ongoing debates over consumer access to credit and regulatory oversight of financial institutions.

The conversation focused on a slate of Republican-backed bills to amend the Fair Credit Reporting Act (FCRA), expand the use of alternative data in credit files and tighten controls on complaints filed with the Consumer Financial Protection Bureau (CFPB).

In addition to the hearing, the subcommittee will consider several pieces of legislation related to credit reporting and consumer protections.

Witnesses included Dan Smith, president and CEO of the Consumer Data Industry Association; Rebecca Kuehn, a partner at Hudson Cook; Celia Winslow, president and CEO of the American Financial Services Association; Veneshia Ferdinand, director of compliance policy at Simmons Bank, testifying on behalf of the American Bankers Association; and Chi Chi Wu, director of consumer reporting and data advocacy at the National Consumer Law Center.

Absent from the hearing was French Hill (R-Ark.), chairman of the House Financial Services Committee, who spoke earlier in the week at the Mortgage Bankers Association (MBA)’s National Advocacy Event. Hill did not get into specifics about legislation but instead pushed for advancing smaller, targeted bills with bipartisan support rather than sweeping packages — an approach he argues can help move financial services legislation more effectively through Congress.

Congressman Andy Barr (R-Ky.) opened the hearing by defending the current framework as essential to economic mobility, warning that proposals to exclude certain debts or adopt “positive-only” reporting would erode accuracy.

“A credit reporting system that ignores real obligations is not more fair, it’s simply less accurate,” Barr said. “When accuracy suffers, access to credit suffers with it.”

‘Credit washing’ claims

Barr also pointed to what he described as a surge in duplicative or fraudulent complaints in the CPFB’s database, which are often tied to credit repair firms. He promoted his bill, the Eliminating Fraud in the CFPB Consumer Complaint Database Act (H.R. 7588), which would require consumers to attest to complaints under penalty of perjury and allow institutions to dismiss those deemed illegitimate.

The witnesses echoed concerns about so-called “credit washing,” where mass disputes or false identity theft claims are used to remove accurate negative information. Winslow said bad actors “flood lenders, bureaus and the CFPB complaint database” with form disputes, forcing removals.

“Corrupt that data and the whole system is compromised,” Winslow said, adding that the result is tighter lending standards and higher costs for borrowers.

Ferdinand said lenders rely on complete reports to meet legal obligations. “Removing accurate information … does not eliminate the risk — it just hides it,” she said.

A central point of debate was the FCRA Liability Harmonization Act (H.R. 5775), which would cap damages and limit attorneys fees in credit reporting lawsuits. Supporters, including Smith and Kuehn, said uncapped liability has fueled costly litigation, discouraged data reporting such as rent and utilities, and limited competition.

“The liability risk … is enormous. It’s uncapped and it will put a company out of business overnight,” Smith said.

“The FCRA framework works because it balances consumer protection and access to credit,” Ferdinand said. Kuehn added that large settlements ultimately raise costs for consumers while reducing innovation and credit access.

Democrats and consumer advocates sharply disagreed. Wu said the bills under consideration would “drastically reduce accountability” for errors and make it harder for consumers to seek relief.

“We oppose each of the bills posted today, which all benefit the big three credit bureaus, the most complained-about financial services companies with 5 million complaints to CFPB,” Wu said at the start of her testimony. “Instead of these four giveaway bills, we urge Congress to pass meaningful reform of the credit reporting industry.”

Democrats also criticized changes at the CFPB under Director Russell Vought, arguing the agency has made it harder for consumers to file complaints.

Lawmakers in both parties showed interest in expanding the use of alternative data — such as rent, utility and telecom payments — to help consumers with limited credit histories. Rep. Young Kim (R-Calif.) promoted legislation to incorporate such data, while industry witnesses supported broader reporting but opposed the exclusion of negative information.

Wu warned that including negative rental data could harm vulnerable tenants, arguing any such reporting should be voluntary and limited to positive information.

Members also raised concerns about artificial intelligence, with witnesses noting it could both reduce errors and enable more sophisticated fraud. Smith called AI a “significant risk,” while Winslow said a large share of disputes are already driven by questionable claims.

MBA voices concerns

MBA, in a letter submitted for the record, raised separate concerns about the structure of the credit reporting market. The trade group argued that a lack of competition among the three major credit bureaus — Experian, TransUnion and Equifax — has driven steep cost increases for lenders and borrowers.

MBA said its members have faced credit reporting cost increases of as much as 350% in recent years, along with projected hikes of 40% to 50% in 2026. These costs are passed on to borrowers through higher closing costs. The group attributed the increases in part to the long-standing tri-merge requirement that forces lenders to obtain reports from all three bureaus for mortgages backed by Fannie Mae, Freddie Mac and federal agencies.

“MBA and its members are strong supporters of the welcome focus on pursuing all avenues to improve housing affordability by the Trump administration — and within the individual party caucuses in both the House and Senate,” according to the letter signed by Bill Killmer, the MBA’s senior vice president of legislative and political affairs.

“Given the recent exorbitant price increases cited above, we believe removing the current mortgage tri-merge framework should be a key element on any checklist of affordability initiatives put forth by federal policymakers.”

The group ended its letter by stating that single-file credit reports are already used safely in other consumer lending markets, and that eliminating the tri-merge requirement for most Fannie- and Freddie-backed loans would increase competition, lower closing costs and improve access to homeownership without adding risk.

MBA also pointed to data showing most borrowers have high credit scores, proposing a single-report option for those above 700, while noting that federal housing regulators have previously determined a tri-merge report is not necessary.

This post was originally published on here. 

A new survey indicates that residential contractors and remodelers began the second quarter on an optimistic note, but economic uncertainty driven by the war in Iran could complicate the picture. 

The Houzz Q2 2026 U.S. Houzz Pro Industry Barometer, a survey conducted between March 17 and April 6, found that construction and design pros expect a mixed spring after a Q1 slowdown. Respondents reported softer activity to start 2026 but entered the second quarter with cautious optimism and leaner backlogs, according to the report. 

The quarterly survey of 989 residential construction and design firms on the Houzz platform found that sentiment is diverging by business type. Design-build firms are signaling a sharp pickup in work, while build-only remodelers expect more modest gains. In the design sector, interior designers are more upbeat than architects.

“After recent activity slowed in the first quarter compared with the end of 2025, construction and design pros are entering Q2 with cautious optimism, particularly in construction, where expectations for new projects are showing early signs of a rebound,” Marine Sargsyan, head of economic research at Houzz, said in a statement.

“At the same time, persistent cost pressures and client hesitation are reshaping how firms compete. We’re seeing pros adapt in real time with construction firms investing in workforce development and more flexible pricing, while design professionals are doubling down on client experience and branding.”

How firms are competing for projects and talent

According to the Houzz survey, most firms are focusing on communication, pricing and workforce development to stay competitive in this environment.

In response to heightened competition over the past three months, 60% of construction pros and 45% of design pros said they have improved client communication. Construction firms are relying more on financial tools to win work, with 42% adjusting pricing or offering promotions, versus 19% of design firms.

Recruiting and retention strategies are also shifting. More than half of construction firms (57%) said they are offering on-the-job training to appeal to younger workers. Design firms are leaning more on academic partnerships, cited by 26% of respondents.

Both sectors reported increased use of social media in recruiting — 35% of construction firms and 36% of design firms — and are highlighting their use of advanced technology, including AI and project management platforms, to attract tech-focused candidates (10% of construction firms and 16% of design firms).

For remodelers and design practices, the barometer suggests that investments in communication, digital tools and training are becoming table stakes in a market where homeowners are more selective and projects are taking longer to convert.

Costs, macro risk and labor weigh on outlook

Rising input costs and a choppy macro backdrop remain the primary headwinds as firms plan for the second quarter. Nearly half of construction businesses (49%) and design firms (45%) cited higher prices for products and materials as a top concern, according to the company’s announcement.

Client hesitation is another drag. More than one-quarter of firms in both sectors reported that homeowners are delaying projects, including 27% of construction companies and 30% of design firms. In construction, 67% of respondents reported facing skilled labor shortages.

Bigger-picture risks are especially acute for design professionals. Roughly 30% of design firms pointed to geopolitical uncertainty (30%) and tariffs (30%) as concerns, compared with 23% and 17% of construction firms, respectively.

Shaky consumer confidence is another issue. According to a survey from the University of Michigan, consumer sentiment fell 11% in March to its lowest level on record, driven primarily by economic shocks resulting from the war in Iran. And Redfin says that 36% of American workers are delaying or canceling big purchases as consumers worry about job security, inflation and high borrowing costs.               

Construction sentiment improves as backlogs ease

The Expected Business Activity Indicator for construction firms, which tracks expectations for project inquiries and new committed projects, rose 3 points to reading of 58 for Q2 2026. Scores above 50 indicate more firms reporting quarter-over-quarter increases than decreases.

The improvement was driven by stronger expectations for new committed projects, which climbed to 59, up 6 points from Q1. Expected project inquiries held steady at 57.

Outlooks diverge sharply by business model:

• Design-build firms reported a Q2 expected business activity reading of 66, up 10 points from 56 in Q1
• Build-only remodelers posted an expected activity score of 50, down 5 points from 55, signaling a flatter pipeline

Backlogs in construction continued to normalize from last year’s elevated levels. The Project Backlog Indicator fell to 5.6 weeks at the start of Q2 2026, down from 6.4 weeks a year earlier.

• Build-only remodelers reported a 4.6-week backlog, down slightly from 4.8 weeks in Q2 2025
• Design-build remodelers saw a larger decline, to 6.7 weeks from 8.0 weeks a year earlier

Recent activity weakened during the first quarter. The Recent Business Activity Indicator for construction — covering actual project inquiries and new committed projects — declined to 48 in Q1 2026 from 51 in Q4 2025.

• Project inquiries improved modestly, rising 2 points to 51
• New committed projects fell 7 points to 45

Among firm types, the recent activity index fell to 50 for build-only remodelers, down from 59, but rose to 46 for design-build firms, up from 43.

For lenders and suppliers focused on the remodeling channel, shrinking backlogs and lower recent activity suggest some easing of capacity constraints alongside softer near-term demand, particularly for smaller, build-only operators.

Design firms see softer Q2 expectations, shorter backlogs

In the architectural and design services sector, expectations for the spring softened slightly and backlogs fell more sharply than in construction.

The Expected Business Activity Indicator for design firms slipped to 60 for Q2 2026, down from 61 in Q1. Expectations for project inquiries eased to 60 from 62, while expectations for new committed projects edged up to 61 from 60.

Sentiment diverged within the sector:

• Architects’ expected business activity fell to 58, down from 61 in Q1
• Interior designers’ reading rose to 65, up from 61, signaling stronger demand for interior work.

Design backlogs compressed significantly. The Project Backlog Indicator dropped to 4.0 weeks at the start of Q2 2026, 1.7 weeks shorter than the 5.7 weeks reported a year earlier.

• Architects’ backlogs fell to 4.0 weeks, down from 6.3 weeks in Q2 2025
• Interior designers also reported a 4-week backlog, down from 4.8 weeks in Q2 2025

Recent business activity pulled back in Q1. The design sector’s recent activity indicator fell to 48, down from 54 in Q4 2025.

• Project inquiries dropped to 45, down 9 points
• New committed projects dipped to 52, down 1 point

Architects reported a sharper slowdown, with recent activity falling from 55 to 45. Interior designers, by contrast, saw recent activity rise from 5o to 53.

Tyler Williams reported and wrote this article with drafting assistance from HousingWire Automation, an editorial tool that helps transform announcements and industry data into HousingWire-style news coverage.

This post was originally published on here. 

Foreclosure activity accelerated in the first quarter of 2026, with signs of mounting operational pressure for mortgage servicers and downstream vendors, according to ATTOM’s latest U.S. Foreclosure Market Report and insights from industry executives.

While overall foreclosure volumes remain below pre-Great Recession peaks, starts, completions and real estate-owned (REO) inventories are climbing, timelines are shrinking and geographic hot spots — especially in parts of the Sun Belt — are emerging.

The rise is less of a surprise and more a delayed reckoning after several years of aggressive loss mitigation and forbearance programs, executives said.

ATTOM reported that 118,727 properties had a foreclosure filing in Q1 2026, up 6% from the prior quarter and 26% year over year. March alone saw 45,921 properties with filings, 18% higher than February and 28% above March 2025.

Foreclosure starts — an early warning indicator — rose to 82,631 properties in the first quarter, up 7% from Q4 2025 and 20% from a year earlier. Bank repossessions (REOs) climbed even faster, with lenders taking back 14,020 properties in Q1, a 45% annual increase.

“While volumes remain below historical peaks, the continued rise, especially in starts and bank repossessions, suggests financial pressure may be building for some homeowners and could signal shifting housing market dynamics,” Rob Barber, CEO at ATTOM, said in a statement.

According to Donna Schmidt, president and CEO of DLS Servicing, the industry saw five years of very low foreclosure rates due to loss-mitigation policies that allowed borrowers to “kick the can down the road.” 

“The restructuring of loss mitigation that has reduced the number of options offered has revealed this weakness,” Schmidt said. “I expected to see five years of normal foreclosure activity get condensed and forced through the system in the next two years. This is just the start.”   

For servicers, the compressed window of elevated foreclosure activity raises questions about staffing, vendor capacity and compliance controls that were built in a different interest rate and delinquency environment. The operational impact extends well beyond the teams managing legal actions and REO disposition.

“When foreclosures start to rise year over year, servicers feel it first as pipeline pressure,” Mirza Hodzic, managing director and founder of BlackWolf Advisory Group, said in a statement. “The work is not limited to the foreclosure department. It stretches loss mitigation transitions, borrower communications, document processing, and oversight of attorneys and vendors. If capacity and controls do not scale with volume, timelines and borrower experience suffer.”

According to Hodzic, the jump in bank repossessions is a signal that the back end of the process is getting busier too, putting real demand on REO and property related functions like inspections, preservation, title and curative services, and vendor management.

ATTOM found that properties foreclosed in Q1 2026 spent an average of 577 days in the process, down 3% from the prior quarter and 14% year over year. It marked the sixth straight quarter of declining timelines.

Hodzic said that faster resolution is a double-edged sword for servicers operating under higher volume because “when volume rises and timelines tighten at the same time, small gaps become costly fast,” he said. 

Nationally, one in every 1,211 housing units had a foreclosure filing in Q1 2026, according to ATTOM. But activity is far from uniform. States with the highest foreclosure rates were Indiana (one in every 739 housing units), South Carolina (one in every 743 housing units) and Florida (one in every 750 housing units).

“While it is hard to say what is behind the data — it is widely believed that the surge in homeowners’ insurance rates have pushed many people to move out of the Sun Belt,” Schmidt said. “Florida saw a huge surge in home prices during COVID and those gains are being reversed. This just means that borrowers who find that their homes are now unaffordable cannot sell their properties and completely satisfy their liens.” 

This post was originally published on here. 

The National Association of Real Estate Brokers (NAREB) has launched an eight-city Affordable Homeownership Bus Tour aimed at closing the Black homeownership gap by bringing housing education, lending resources and policy conversations directly into local communities.

The tour, led by NAREB President Ashley Thomas III, will visit Philadelphia; Baltimore; Detroit; Gary, Indiana; Kansas City, Missouri; Memphis; Little Rock and Tulsa over eight days beginning April 25. NAREB said the initiative is part of its national strategy to “Close the Gap” in Black homeownership and respond to widening affordability challenges for first-time buyers.

Black homeownership in the U.S. stands at 44.2%, far below the 75.1% rate for white families, according to NAREB’s 2025 State of Housing in Black America report. Only 33% of Black millennials are homeowners, compared with a 65% homeownership rate for white millennials. The report also cites unprecedented obstacles for Black women seeking to buy homes.

The tour is jointly presented by NAREB and the African American Mayors Association (AAMA) and backed by a coalition of local real estate boards, lenders, housing agencies, elected officials and faith-based organizations. NAREB affiliates including the NAREB Investment Division – Housing Counseling Agency and the Women’s Council of NAREB are also central partners.

NAREB said the eight tour cities were chosen based on localized housing data showing significant gaps between the share of Black residents and the share of mortgage originations to Black borrowers. In each of the eight markets, Black households make up a far higher share of the population than their share of new mortgages.

For example, in Philadelphia, Black residents are 39% of the population but received 28% of 2024 mortgage originations, while in Detroit, 81% of the population is Black, but only 63% of originations were for Black residents. 

According to NAREB, each stop will include programming designed to move renters toward sustainable ownership and protect existing homeownership in Black families. Sessions include a breakdown of renting versus owning, education on Section 8 housing choice vouchers, guidance on clearing title, preventing forced sales and preserving family-owned properties and sessions for NAREB-aligned developers on partnering with cities to deliver affordable, community-focused housing projects.

NAREB said the goal is for attendees to leave each event with actionable information, direct connections to housing professionals and lenders, and clearer next steps toward buying a home or preserving existing ownership.

Thomas framed the tour as a response to the urgency of today’s affordability environment for historically underserved buyers.

“We are committed to transforming the wealth landscape for historically underserved communities, one home at a time,” Thomas said in a statement. “By providing education, practical tools, and access to strategic partnerships, we are equipping families to create and sustain generational wealth through real estate.”

Additional partners in the tour include Alpha Phi Alpha, Delta Theta Sigma, Sigma Zetta, the NAACP, the National Council of Negro Women and the Urban League, according to NAREB.

The tour has also attracted support from national lenders and corporate sponsors that are active in mortgage origination and community investment, including Airbnb, Bank of America, KeyBank, Rate, U.S. Bank and Wells Fargo.

NAREB said more information and sign-up links for the city sessions are available online. The organization frames the initiative as “action and access” — using a short, intensive tour to connect households directly with resources, rather than relying solely on digital or centralized outreach.

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.

This post was originally published on here. 

Virtual staging — once a simple tool for digitally adding furniture — is rapidly evolving into a powerful and sometimes controversial force in real estate marketing as artificial intelligence (AI) reshapes what’s possible.

To understand where the line is drawn between enhancement and misrepresentation, it helps to start with the people who enforce the rules.

Edward Zorn, vice president and general counsel at California Regional Multiple Listing Service (CRMLS), has been watching this space for years.

“I would draw your attention first to Article 12 of the NAR code of ethics, because that’s the foundational element that is then mimicked and has some very similar rules in every MLS,” he told HousingWire. “The standard is that you shall present a true picture in the advertising, marketing and representation of the listing. So, we call it the true picture standard.”

Industry data shows why virtual staging adoption is accelerating, even as concerns about accuracy grow.

According to the National Association of Realtors (NAR), 83% of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home.

Sixty percent of buyers’ agents cited that home staging had an effect on some buyers, but not always, while 26% said that staging had an effect on most buyers’ view of the home.

Among buyers’ agents, having photos (73%), traditional physical staging (57%), videos (48%) and virtual tours (43%) available for their listings was much more or more important to their clients.

The true picture standard in practice

Zorn emphasized that the “true picture” framework applies regardless of how an image was altered.

He cited that agents have been manipulating property photos for decades using telephoto lenses and Photoshop — and offered real world examples of how buyers have used photos as evidence in claims.

In one case, a seller digitally enhanced a fire into a fireplace. The buyer later discovered a $25,000 to $30,000 chimney and flue problem that made a fire impossible.

“The buyer, using the photo as evidence in their claim, said that it was reasonable for the buyer to think that they were buying a home that they can do a fire in, because that was the picture they saw,” Zorn said. They would use that photo to support their misrepresentation or failure to disclose claim.

Another good example is a buyer closes, goes into the garage to try to turn on the really pretty exterior lights, to show the house at night. “Then they call their agent and say, ‘I can’t find the switches. Where do I set the clock for the pretty lights at night?’ [Then they find out] there are no lights. To install lights, maybe that’s $5000 or $6,000 if it’s a big home. These are cases that get settled and you don’t hear anything about after.”

An agent’s perspective

Not every agent embraces virtual staging, even as a marketing tool.

Veronique Perrin — a real estate agent at New York-based Coldwell Banker Warburg — takes a firm stance against it.

“I never use virtual staging for my listings,” she said. “I find that buyers actually resent it and respond very negatively when they feel they were deceived about what is offered. In full transparency, I have a separate staging business, so I include actual staging for free for all my exclusives.”

Perrin has also seen damage caused by misleading photos from the buyer’s side.

“Countless times, when representing buyers, we would get to a listing and wonder whether we were in the right place,” she said. “The misrepresentation is getting out of control. Disclosure about photos being virtually staged is often missing, and some of it is so well done now that you only find out when you walk in.

“Buyers get very frustrated, and I find it counterproductive. Now, I systematically speak with the listing agent before sending a buyer to any listing to make sure the photos match what is offered.”

‘The MLS is not a marketing platform’

Zorn drew a critical distinction between marketing and cooperation.

Multiple listing services, he explained, are broker cooperatives first — not marketing platforms.

“I think that’s an important distinction,” said Zorn. “Those are two very different things. Now we do, in fact, do excellent marketing and excellent distribution in the MLS. We are great at getting good information out there for people to market with, but we can’t lose sight of the fact that we are a broker cooperative.

“Putting up what [a listing] could be if you spent another $50,000, well, that’s great for marketing. That’s terrible for me as a buyer’s agent.”

He recalled a complaint from several years ago involving a Long Beach, Calif., condominium. The listing showed a “stunning view” of the Queen Mary occupying about half the photograph.

But when buyers and their agents walked onto the deck, the Queen Mary was a tiny fraction of that size.

“That’s uncooperative to the buyer’s agent,” Zorn said. “Now the buyer is in a fight with his own agent. They’re mad, saying, ‘Why did we drive all the way out here? I told you to find me something with a great view.’ They’re squinting with binoculars and they can kind of see the Queen Mary.”

Existing Rules, enforcement gaps

Zorn does not believe new laws are needed to address AI-altered listings.

He noted that California recently passed Assembly Bill 723 — requiring real estate agents and brokers to clearly disclose when listing photos are modified by AI or digital editing.

The law mandates that if an image is digitally altered [virtual staging, object removal, etc.], a disclaimer must be added and the original image must be made available.

“We don’t need new regulation or laws,” Zorn said. “We just need to enforce the rules that we have. This standard that I just expressed to you under Article 12 of the (NAR) code of ethics — and that is almost word for word in most MLS rules — works great.

Perrin is less optimistic about enforcement.

“Honestly, I am not sure how you can actually keep up with the bad behavior, especially with the world of AI,” she said. “As for adjusting my practices, again, I only do actual staging for my listings. Most of the time, I use what is there and bring in curated props and artwork, or I’ll do a quick glow up.

“This works especially well in estate situations. There is instant gratification in a coat of paint on old furniture, the use of a staple gun and some cool fabric.”

As Zorn and Perrin both make clear, a feature that looks like a great marketing idea from one side of the transaction can become a genuine problem for the other.

Without consistent enforcement, the gap between listing and reality may only widen.

This post was originally published on here. 

The Batton homebuyer commission lawsuit plaintiffs have unsurprisingly taken a stand against the National Association of Realtors’ (NAR) decision to settle the homebuyer antitrust claims by opting-in to the Tuccori homebuyer commission lawsuit settlement. 

Due to the settlement, which was announced last Friday, NAR filed a motion to stay the Batton litigation, in which it is a defendant. On Wednesday, the Batton plaintiffs filed a memorandum in opposition to NAR’s motion to stay the Batton lawsuit.

In the filing, the Batton plaintiffs claim that NAR is asking the court to “compel” them “to stand aside while it proceeds with its reverse-auction Tuccori settlement that, if approved, will extinguish a significant portion [but not all] of Plaintiffs’ claims against NAR in this case.”

This is not the first time the Batton plaintiffs have taken issue with a defendant in their litigation opting into the Tuccori settlement. 

In March, the Batton plaintiffs filed a motion for a preliminary injunction seeking to prevent Hanna Holdings from proceeding with its proposed settlement in the Tuccori lawsuit. This came after the Batton plaintiffs filed a motion to intervene in the Tuccori lawsuit and a motion for a preliminary injunction seeking to block Anywhere Real Estate from obtaining preliminary approval for the settlement the firm negotiated in the lawsuit via the opt-in mechanism. 

These motions were denied, but the Batton plaintiffs have also sought to appoint the Tuccori plaintiffs’ attorneys as interim co-lead counsel in the Batton lawsuit. Additionally, despite denying their attempt to block Anywhere’s settlement, the court did allow the Batton proceedings involving Anywhere to continue, denying the firm’s motion to stay the lawsuit despite its pending settlement in the Tuccori lawsuit. 

In this ruling the court wrote that it would be “presumptuous” to treat the “final approval of the settlement and resolution of all claims against Defendant Anywhere as a foregone conclusion” and stay the Batton litigation. The Batton plaintiffs argue that this same argument can apply to NAR’s settlement. Additionally, the plaintiffs note that NAR has not yet filed for preliminary approval of its settlement in the Tuccori lawsuit. 

The Batton plaintiffs also argue that a stay would prejudice them and cause delay, especially if the settlements do not gain final approval. 

The parties are meeting on Thursday for a hearing on the motion. 

In an emailed statement, an NAR spokesperson wrote that the trade group stands by its settlement.

“NAR looks forward to the Tuccori court’s final hearing and approval process,” the spokesperson added. “NAR maintains that the settlement process established by the Tuccori court is fair, reasonable, and in the best interests of the class. NAR intends to vigorously defend the settlement it reached after mediation and negotiations before the court-appointed mediator, Judge James Holderman.” 

This post was originally published on here. 

Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks earned an average profit of $785 on each loan they originated in 2025, up from $443 per loan in 2024, according to the Mortgage Bankers Association (MBA)’s 2025 Annual Mortgage Bankers Performance Report, released Thursday.

MBA reported that the average net production profit reached 21 basis points in 2025, the highest level in four years. That is still less than half the historic average of 45 bps, or $1,031 per loan, since the study began in 2008.

“The average net production profit for IMBs in 2025 reached its highest level in four years at 21 basis points,” said Marina Walsh, the MBA’s vice president of industry analysis. “While profits have improved slightly in recent years, they are still less than half the historical average going back to 2008.

“There was also wide variability between top and bottom performers due to differences in product mix, volume levels, geography and cost efficiencies, among other factors.”

The report shows that profitability improved alongside higher origination volumes and larger average loan sizes, but lenders did not see the typical cost relief that comes when volume rises.

Total production expenses increased to $11,094 per loan in 2025, up from $11,076 in 2024, even as total production revenues rose to $11,879 per loan (compared to $11,520 the year prior).

“Overall annual production volume was up in 2025, while loan balances rose to new study-highs,” Walsh said. “Despite the increase in volume, per-loan production costs were slightly higher than in 2024.

“Historically, when volume picks up, fixed costs are spread over more loans, resulting in a reduction in per-loan costs. However, that was not the case in 2025 as rising wage growth, increases in third-party charges, and reduced application pull-through negatively impacted origination costs. Containing origination costs and increasing efficiencies will remain a differentiator between profitable and unprofitable companies in 2026.”

More firms return to profitability

Including both production and servicing, 78% of firms in the study posted pretax net profits in 2025, up from 68% in 2024 and 36% in 2023. Without the contribution from servicing, just 64% of firms would have been profitable in 2025, underscoring the continued importance of servicing income for IMBs’ overall performance.

Net servicing financial income — which includes servicing operational income, mortgage servicing right (MSR) amortization, and gains and losses on MSR valuations — fell to $89 per loan in 2025, less than one-third of the $301 per-loan figure in 2024. Even with that decline, servicing remained a key lifeline for many lenders as production margins stayed compressed.

Average production volume rose to $2.5 billion per company in 2025, or 7,273 loans, up from $2.1 billion (6,259 loans) in 2024. For repeat participants in the survey, average volume increased to $2.4 billion (7,158 loans) from $2.1 billion (6,290 loans).

The average loan balance for first mortgages reached a study high of $371,965 in 2025, up from $357,631 in 2024. Larger loan sizes can help support per-loan revenue, but they also reflect ongoing affordability challenges for borrowers in many markets.

The refinance share of total originations by dollar volume among IMBs increased to 21% in 2025, up from 16% in 2024. For the broader mortgage market, MBA estimates the refi share climbed to 34% in 2025, a 14-point jump from 2024 and an indication that IMBs continued to skew more toward purchase lending than the overall industry.

Measured in basis points, average production income rose to 21 bps in 2025 compared to 10 bps in 2024. Total production revenues — including fee income, net secondary marketing income and warehouse spread — ticked up 2 bps during the year to 347 bps.

MBA’s data suggests that while the worst of the profitability downturn may be over, IMBs remain under pressure to manage costs and improve efficiency. Rising wage and third-party expenses, coupled with weaker pull-through, are preventing lenders from fully benefiting from higher volumes and growing refi activity.

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.

This post was originally published on here. 

Three in four homebuyers assume artificial intelligence already plays a role in the homebuying process, but most still want humans making or verifying key decisions, according to a new global survey from property data firm Cotality.

Its AI in Housing 2026 Report, released Thursday, finds that 75% of buyers expect AI to be embedded somewhere in the transaction. They most commonly assume AI is used by property websites (86%), insurers (82%) and lenders (80%), with similar expectations for real estate agents (80%) and brokers (79%).

The report covers buyers in the U.S., Canada, the U.K. and Australia. Cotality surveyed buyers who purchased within the past five years and those who plan to purchase in two to five years. Responses were obtained across the Gen Z, Gen X, millennial and baby boomer cohorts.

The findings arrive as mortgage lenders, real estate brokerages and insurers accelerate deployment of AI in underwriting, lead routing, pricing, risk modeling and marketing. With more than $2 trillion in mortgage originations each year in the U.S., even marginal efficiency gains can materially affect capacity and capital availability for lenders.

Buyer confidence down, AI expectations up

U.S. buyer confidence in navigating the homebuying process has fallen to 72% in 2026, down from 83% in 2025, Cotality reported. The share of U.S. consumers actively saving for a home dropped from 75% to 69% during the same period.

Younger cohorts are more likely to see AI as part of the solution:

• 50% of Gen Z say AI would increase their confidence in buying a home
• 40% of millennials say the same
• 33% of Gen X and 21% of boomers report increased confidence with AI

Gen Z buyers report a particular need for speed from AI-enhanced services, especially for legal assistance (46%) and insurance (39%). In the U.S., buyers under 35 account for 37% of originated loans, underscoring the influence of younger borrowers on product and process expectations.

“Homebuyers want the speed and scale of AI — but not at the expense of certainty,” Amy Gromowski, head of data science at Cotality, said in the report.

Cotality estimates that AI-driven workflows could shorten mortgage processing times by one to three months, potentially allowing lenders to pull forward repayments, recycle capital more efficiently and expand capacity without adding staff.

Trust gap widens despite broad AI adoption

Even as buyers expect AI to be ubiquitous, trust in AI systems has weakened in the U.S. Trust in AI to help find a home fell to 16% in 2026, a 14-point drop from 2025, according to the survey.

Buyers are also drawing firmer lines around where and how AI can be used:

• 68% say clear AI labeling for property listings and mortgage recommendations is important or essential
• 37% say such labeling should be mandatory, rising to 61% among baby boomers
• 46% say it is unacceptable for lenders or insurers to conduct automated AI valuations without prior approval

Tolerance for AI mistakes remains low. Only 22% of Gen Z and 19% of millennials say they are tolerant of AI errors, compared to 11% of Gen X and 9% of boomers. For lending and real estate firms, that suggests limited consumer patience for misfires from AI-driven underwriting, valuation or recommendation systems.

Demand grows for transparency and human checks

Concerns about how AI uses data are also widespread. Nearly two-thirds (64%) of buyers worry that AI may recycle unverified information rather than rely on validated, first-party data.

Generational differences emerge in willingness to act on AI outputs:

• Only 7% of global Gen Z homebuyers would accept AI-generated information on property risk and its impact on insurance premiums
• 12% of millennials say they would accept and act on such AI-generated safety information
• 11% of U.S. buyers and 10% of U.K. buyers say they are comfortable with AI-generated information, compared with 3% in Canada

Despite growing familiarity with digital tools, human expertise still carries more weight at critical decision points. Globally, 48% of buyers consider AI reliable for making fair lending decisions, but U.S. consumers increasingly favor humans:

• 55% of U.S. buyers prefer working with a person to secure a mortgage, up from 46% last year
• 66% would rely on human professionals over AI for legal assistance, up from 54% in 2025
• 56% say they would trust a human expert over AI when assessing natural disaster risk

Buyers are willing to pay for these safeguards. Cotality found that 44% of respondents would pay an additional fee to have a human expert verify AI-generated housing decisions.

“Buyers are not rejecting AI; they are asking for safeguards,” Gromowski said. “They recognize AI’s power to process massive datasets and speed up decisions. But when it comes to the largest financial transaction of their lives, accuracy and accountability are non-negotiable.”

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.

This post was originally published on here. 

There is a shift happening in real estate and mortgage, and it has less to do with rates or technology than with how companies show up. Branding was once treated as a finishing touch. Today, it is becoming a core part of how brokerages and lenders compete, and that evolution is on full display in the 2025 Exhibit Awards finalist class, presented by MAXA Designs.

Thirty-four companies made the cut across eight real estate categories and, for the first time, a national mortgage track. The expansion signals how quickly the lending side of the industry is rethinking its brand approach. These finalists represent more than strong design. They reflect a broader movement toward brand as an integrated, measurable business function, one that influences everything from lead conversion to long-term client loyalty.

What this year’s finalists reveal

Brand is becoming a performance lever, not a marketing layer. The strongest finalists are not just visually cohesive; their branding carries through every touchpoint, reinforcing trust and improving consistency across the client experience.

The size and scale of the company are no longer a prerequisite for brand strength. Some of the most influential entries are smaller firms that have built intentional, differentiated identities without enterprise budgets.

Leveraging local identity is increasingly proving to be an advantage. Rather than mimicking national brands, top performers are leaning into regional expertise and community presence, creating brands that feel specific and credible. At the same time, the line between real estate and mortgage is beginning to blur. Mortgage companies are adopting the storytelling and experience strategies long used by brokerages. As the transaction becomes more connected, the brands that can deliver a cohesive experience on both sides will have an edge.

Together, these companies are helping define what effective branding looks like in housing today and setting expectations for where the industry is headed next. In a market where products are increasingly commoditized, and technology continues to level the playing field, brand is emerging as one of the few advantages that is both defensible and durable.

The 2025 finalists

The finalists are broken into categories, with the real estate finalists organized into four U.S. regions, with each region split by brokerage size: under 1,000 agents and over 1,000 agents. The mortgage category is national.

This post was originally published on here. 

Mortgage industry leader Sue Woodard has joined HousingWire as a strategic advisor, bringing decades of experience in origination, fintech and lender advisory work to the company’s growth strategy.

Woodard will work with HousingWire’s executive team to help shape content, events and product direction for mortgage and real estate professionals, with a focus on connecting industry leaders to the data, analysis and community they need to make better decisions, faster.

Woodard will continue her work as a Senior Advisor at STRATMOR Group, as well as continuing her own speaking and advisory roles.

Woodard is widely known in the housing industry for her work as a C-suite executive, advisor and board member to lenders and technology companies. Over the course of her career, she has held senior leadership roles spanning production, customer experience and technology innovation, and has advised a range of mortgage and fintech firms on go-to-market and growth strategy.

“Sue has sat in nearly every seat in the mortgage business, from originator to executive to advisor,” said Clayton Collins, CEO at HousingWire. “Her perspective on how housing professionals actually make decisions will help us to continue to focus our content, data and events on the issues that matter most to our audience.”

As a strategic advisor, Woodard will collaborate with HousingWire’s editorial and event teams on initiatives that support executives navigating higher rates, tighter margins and rapid technology change. That includes advising on executive-level programming, thought leadership and ways to better connect housing professionals to the right people, the right ideas and the right next moves.

“I’ve spent my career helping leaders connect the dots between strategy and execution, and that’s exactly what makes this opportunity with HousingWire so compelling.” said Woodard. “I’m excited to work alongside their team to bring forward ideas, insights, people and conversations that help this industry keep moving forward.” 

Woodard’s background includes front-line experience in mortgage origination, leadership roles at mortgage and fintech firms, and extensive speaking and advisory work across the housing finance industry. She is a frequent industry keynote and has been recognized for her contributions to mortgage technology, leadership development and customer experience.

She will be speaking at HousingWire’s The Gathering event April 27-30 in Austin, Texas.

Why this matters for housing professionals:

HousingWire’s addition of a seasoned mortgage executive and advisor reflects rising demand for practical, decision-grade intelligence as lenders and real estate firms work through prolonged affordability challenges, margin compression and shifting regulation. Woodard’s direct experience with both lenders and the tech companies who serve them in creating successful customer journeys and managing change will inform HousingWire’s coverage, content and programming targeted at executives and top producers.

This post was originally published on here. 

Idaho Gov. Brad Little signed into law a sweeping set of housing reforms as lawmakers sought to avoid a piecemeal legislative approach to the state’s housing affordability problem.

The legislation gave local governments more power to implement plans on missing middle housing, but took control away in some zoning.

Like Sun Belt states, Mountain West states such as Idaho saw population booms during the COVID-19 pandemic that overwhelmed housing supply. Remote workers left high-cost states such as California and New York for lower-cost areas, pushing prices higher in the places they landed.

Return‑to‑office policies have pulled workers back to their previous states, driving housing prices lower in cities where new construction surged. Austin, Texas, once a hotspot for price growth, now leads the nation in rent declines and ranks among the top cities for falling home prices as tech talent returns to the coasts.

Hollie Conde, a fellow at think tank Sightline Institute, told The Builder’s Daily that the scenario hasn’t happened in Idaho.

“So far, they have kept their jobs,” Conde said. “It’s come so far that we have people in the legislature that have lived here for five, six years.”

Solving a housing affordability problem

The new population brought big salaries and buying power that drove housing prices beyond what the average Idaho resident could afford.

Mountain West cities led the 2025 Urban Land Institute’s Terwilliger Center Home Attainability Index with percentage increases in home prices, citing data from 2019 to 2023. Boise’s metropolitan area topped the list, Coeur d’Alene, Idaho Falls and Twin Falls in the Top 10.

Last year, state lawmakers created a committee to study state and local land-use regulations and their impact on housing supply. The committee returned with recommendations, many of which are now law.

As is typical in other states, local governments fought the changes and still aren’t happy with the results. Coeur d’Alene city officials called the bills “dumb” and “not very clever” during a public meeting Tuesday, a local newspaper reported.

Manufactured housing — H800

Idaho law now treats manufactured homes, including manufactured duplexes and other multi-dwelling units, similarly to site-built single-family and multifamily housing for siting purposes. It lowers minimum size requirements and clarifies that single-section and smaller units cannot be zoned out.

Cities must allow manufactured single-unit homes wherever they permit single-family housing, while manufactured duplexes are limited to multifamily zones.

Lot splits for ADUs — H707

Subdivision law now includes an administrative path for cities and counties to approve limited lot splits. The property must already have an existing or approved ADU or secondary unit, mainly to enable separate ownership or financing.

The split does not add new dwelling entitlements or density beyond what zoning already allows and is “one and done” for the parent parcel. Each resulting lot must still meet local infrastructure, setback and building requirements.

Single-stair — H706

Changes to the Idaho Building Code Act let local governments approve small apartment buildings with a single interior exit stairway. Those buildings must meet strict life-safety standards and are limited in height, unit count and floor area. They also must have full sprinklers, pressurized two-hour-rated stairs, fire-rated corridors, short exit travel distances and robust smoke and fire detection.

ADUs — S1354

The zoning reform requires cities to allow accessory dwelling (ADUs) units by right as a residential use in many places. It prevents local governments and homeowners’ associations from flatly banning ADUs. The law guarantees at least one ADU per lot in covered jurisdictions.

It also bars local rules that impose hard maximum size caps, but still allows health, safety and infrastructure standards.

Starter homes / small lots — S1352

State law now preempts certain local regulations to protect “starter home subdivisions” on at least four acres. It prevents cities from banning these projects through large minimum lot sizes and other dimensional standards.

The law bars local rules that require lots above a defined minimum size, such as 1,400 square feet, or impose certain setbacks, depths and fees. It also pushes cities to permit smaller lots and higher minimum densities, around 12 units per acre, subject to infrastructure limits, for these starter home projects.

This post was originally published on here. 

Zillow has signed an agreement with REMAX that makes its Zillow Preview and Zillow Showcase listing products available to REMAX agents nationwide through the REMAX Marketing Studio, according to an announcement on Tuesday. 

Zillow had previously announced REMAX as one of the original firms to sign up for Zillow Preview, its pre-marketing platform for coming soon listings. 

Zillow Showcase is a paid, AI-powered premium listing product designed to boost on-market visibility through richer media and interactive design. According to Zillow, together, the two products create an end-to-end listing marketing workflow focused on generating demand ahead of launch and maximizing engagement once a listing is active.

Zillow framed Preview and Showcase as part of a broader pivot toward helping agents win and convert listings, not just generate buyer leads — a notable shift from the industry’s long emphasis on buyer-side lead volume.

REMAX will integrate Zillow Showcase into its REMAX Marketing Studio platform, giving its more than 145,000 agents access to the product on a per-listing basis. That integration means agents can turn Showcase on as needed without committing to long-term contracts, according to the announcement.

Broker-owners and franchisors can also offer Showcase at scale across their networks. Zillow and REMAX position this as a way to standardize a higher baseline for listing marketing while adding a recruiting and retention lever in a highly competitive brokerage landscape.

“Agents need marketing solutions that can evolve with the shifting landscape and help deliver results for buyers and sellers,” REMAX president and chief growth officer Chris Lim said in the release. Lim said the combination of Preview and Showcase gives REMAX agents “a stronger way to compete from the very first conversation” with clients.

Bobbi Jo Price, vice president of agent sales at Zillow, said the partnership gives REMAX agents something “tangible” to show in listing presentations that differentiates them from competitors.

Showcase adoption has been growing beyond REMAX. The product appeared on 3.7% of new listings on Zillow in the fourth quarter of 2025, up from 1.7% a year earlier, according to Zillow’s Q4 2025 shareholder letter. While that remains a small share of overall listings, the more than twofold year-over-year increase suggests growing demand from agents and sellers for premium presentation, according to Zillow.

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.

This post was originally published on here. 

A borrower’s age should shape every financing recommendation, yet it is often treated as a secondary detail when a senior wants, or needs, access to a portion of their equity.

Consider that most mortgage advice is built on the assumptions that the borrower will continue working and has time and resources to recover from financial setbacks. Those assumptions break the moment someone retires. And if the assumptions change, the strategy should too.

For example:

• At age 45, risk is manageable, income is active, time is an asset, and debt can be used strategically. 
• At age 70, the equation shifts. Income is often fixed, expenses become less predictable, time is limited, and financial setbacks carry more weight because there is less opportunity to recover.

That shift should change the goal of home equity lending. At older ages, it is no longer about maximizing leverage or optimizing interest rates. Rather it is about protecting cash flow, preserving flexibility, and reducing financial pressure. When financing recommendations fail to recognize this reality, loan products can do more harm than good.

Unfortunately, homeowners tend to gravitate to what they know, like HELOCs and cash-out refinances. Maybe they are enticed by newer options like Home Equity Investments that only appear simple and safe. 

The HELOC trap

On the surface, a Home Equity Line of Credit (HELOC) appears flexible. It allows borrowers to access funds as needed rather than taking everything upfront. But it comes with a built-in problem for retirees: required payments. Even during an interest-only period, there is still a monthly obligation, and that obligation can rise if rates increase. Eventually, the loan converts to full repayment, which can create significant payment shock. 

HELOCs are also not fully under the borrower’s control. Lenders can freeze, reduce, or cancel the line. This has happened in past market downturns, often at the exact moment borrowers need funding the most. 

The refinancing game

Refinancing presents a different challenge. It feels straightforward and familiar because many senior homeowners have done it… many times. But a cash-out refinance creates a new mortgage with required monthly principal and interest payments. It resets the loan term and assumes stable, ongoing income. 

That assumption does not always hold in retirement. Instead of reducing financial pressure, a refinance often increases it by introducing a fixed obligation at the wrong stage of life. It also forces the borrower to take a lump sum, which means interest begins accruing on the full amount, whether the funds are needed or not. What worked during earning years can become a burden during retirement.

What about home equity investments? 

Home Equity Investments (HEI) or Home Equity Agreements (HEA) are gaining attention because of how they are marketed. No loan! No interest! No payments! The message is simple, and simplicity is appealing.

But the structure tells a different story. These agreements require the homeowner to give up a significant portion of the home’s future value in exchange for cash today.

The cost is tied, in part, to home appreciation. This can cause the repayment amount to grow significantly. In many cases, the homeowner ends up giving up far more than they anticipated. Because the cost is not labeled as interest, it is ambiguous and easy to underestimate. But from a financial perspective, the outcome often resembles a very expensive form of borrowing.

If a borrower receives funds and later owes much more because of how the agreement is structured, the label does not matter. The outcome does. When the cost is difficult to understand, easy to overlook, and overwhelmingly favors the provider, the product deserves serious scrutiny. In many cases, the math appears predatory.

The reverse mortgage is age-appropriate

When you step back and evaluate the previous options through the lens of age, their limitations become clear. Most mortgage products are designed for borrowers in their working years and then adapted, often poorly, for retirement.

The reverse mortgage stands apart because it was specifically built for this stage of life. At its core, it removes the requirement for monthly principal and interest payments. The borrower must simply occupy and maintain the home and pay all property charges. This  directly addresses one of the biggest challenges in retirement: managing cash flow with limited income.

It also offers a line of credit that behaves very differently from a HELOC. It cannot be frozen or reduced due to market conditions so long as the loan is in good standing. Even more important, it grows over time, increasing the amount of funds available in the future. This turns home equity into an expanding financial resource rather than a static one.

When financing is evaluated through the lens of age, the reverse mortgage shines bright. The best solution is not the one that feels familiar. Rather it is the one that fits the needs and desires of the borrower at their stage of life.

Dan Hultquist is a co-founder of REVERSE plus, and author of “Understanding Reverse” and “Navigating Reverse.”
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners. To contact the editor responsible for this piece: zeb@hwmedia.com.

This post was originally published on here. 

New York Governor Kathy Hochul is reversing course and throwing support behind a proposed annual tax on high-end second homes in New York City.

Hochul, who had previously resisted the measure, now says affluent property owners — particularly those with multimillion-dollar second homes — should help shoulder the burden of growing revenue gaps.

The proposed “pied-à-terre” tax would apply to second homes valued above $5 million, with higher rates for properties exceeding $15 million and $25 million.

Lawmakers estimate it could generate roughly $500 million annually and affect around 13,000 properties.

Urgency for new revenue streams has been heightened by New York City’s looming multi-billion dollar budget shortfall — which was left by Eric Adams’ administration.

Real estate industry groups have pushed back hard on the tax proposal, warning it could weaken the broader economy, reduce construction jobs and depress property values.

Bill Kowalczuk, a real estate broker at Manhattan-based Coldwell Banker Warburg, said the policy would likely cool — but not derail — the top tier of the market.

“It would slightly reduce demand,” he told HousingWire. “The ultra-luxury market is strong due to limited inventory, but a new annual cost will give buyers a reason to pause or negotiate. It doesn’t break the market, but it takes some urgency out, especially for second-home buyers at this price point.”

Kowalczuk noted that second-home buyers make up a significant share of the luxury segment — and their motivations matter when assessing the policy’s impact.

“About 30% to 40% of ultra-luxury buyers are getting second homes and many come from other countries or live in New York part-time,” he said. “While they aren’t all ‘refugees,’ many seek something stable, want to spread out their money and have a place in the city.”

Is pushback overblown?

Rather than abandoning New York upon the new tax being implemented, Kowalczuk expects most wealthy buyers to adjust financially.

“Most will negotiate harder on the price,” he said. “At this level, buyers won’t walk away from New York that easily, but they will absolutely adjust pricing to offset the new costs of ownership. A smaller group may look more seriously at places like Florida, but New York will always hold a unique position domestically and globally.”

Kowalczuk also pushed back on industry warnings of severe economic fallout.

“It’s a fair point, but I believe it is overstated,” he said. “There could be some pressure on values at the very top end and potentially slower new development activity, but the ultra-luxury market is resilient; the numbers seem really large to the average person. But, someone who has a $10M second home won’t see it the same way. It [the market] won’t stop. It may just not move as aggressively as it has lately.”

On why the proposal may gain traction now despite failing in the past, Kowalczuk pointed to shifting political and fiscal realities.

“You now have support at both the state and city levels, and the need for revenue is more immediate,” he said. “The proposal feels more real this time, but it still comes down to the final details and what everyone agrees to.”

Surging demand at the very top — despite uncertainty

Debate comes as the ultra-luxury market shows surprising strength — even amid economic uncertainty and geopolitical instability.

HousingWire Data indicates pending sales in the ultra-luxury single-family segment — defined by a $4.3 million median price — jumped 200% in the most recent weekly period.

At the same time, price cuts dropped to 11.8%, well below the city’s long-term average of 17.9%.

That momentum suggests deep-pocketed buyers are still actively competing for scarce inventory.

Outside the ultra-luxury segment, however, conditions are more mixed.

New listings in the broader luxury market — including condos and townhomes with a $2 million median price — fell 17% to 179 properties. The co-op sector saw an even steeper 26% decline in new listings, pointing to persistent supply constraints.

As New York’s market dynamics and state lawmaker negotiations play out, the proposed tax could provide a revenue solution while also testing one of the world’s most exclusive housing markets.

This post was originally published on here. 

Mortgage industry veteran Jeremy Moreithi has joined Waterstone Mortgage Corp. as branch manager of its office in Ashburn, Virginia, the company announced Wednesday.

Moreithi, who has more than 20 years of mortgage lending experience, will be based in Ashburn but will primarily serve homebuyers in the Greater Washington D.C., Maryland and Virginia metropolitan areas. He is listed in HousingWire‘s Mortgage Rankings with a 2025 volume of $46.4 million across 92 loans while serving with Envoy Mortgage.

In his new role, Moreithi will offer loans backed by WaterStone Bank while using Waterstone Mortgage’s tools, programs and support to work with a wide range of homebuyers. The company said this structure is intended to support more customized financing options for borrowers with varying financial profiles.

“I made the move to Waterstone Mortgage because it represents the next step in elevating how I serve my clients and partners,” Moreithi said in a statement. “The company’s extensive array of programs allows me to provide better solutions tailored to each client’s needs. Most importantly, their full commitment to support ensures I can continue delivering the highest level of service possible.”

Waterstone said the hire aligns with its strategy to grow by adding experienced originators and branch leaders in key markets. Lenders are competing aggressively for seasoned producers in the Mid-Atlantic region as higher mortgage rates and tight inventory pressure lending volumes.

“Having had the privilege of working with Jeremy for over 15 years, I can confidently say his integrity, expertise and client-first mindset are unmatched in our industry,” said Margie Hennessey, vice president of Eastern sales for Waterstone Mortgage. “Beyond being a seasoned mortgage professional, he is a trusted colleague and a great friend whose contributions will undoubtedly elevate our entire organization.”

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.

This post was originally published on here. 

Williston Financial Group (WFG) announced a series of executive appointments, including Ryan Ozonian taking over as senior director of innovation and AI at MyHome.

In the role, he will guide artificial intelligence (AI) and automation initiatives across the organization — working to integrate new technologies into existing workflows and improve transaction processes.

“Ryan’s appointment reflects the intentional way we have scaled innovation across the WFG family of companies,” said Marty Frame, president of MyHome. “We are not approaching AI as a standalone initiative. We have integrated it into how we operate, how we deliver product and how we create value.

“Ryan will play a critical role in bridging that strategy across our organization, ensuring our investments in AI and automation translate into real, practical impact for our agents, customers and partners and the consumers they serve.”

WFG National Title Insurance announced that Shaun Gonzales has been appointed chief operations officer for direct operations — where he will oversee title and settlement functions.

Gonzales brings more than 25 years of industry experience and previously held senior leadership roles managing multi-state operations.

Noah Blanton will transition to chief growth officer in the coming months — focusing on market expansion and long-term development initiatives. He currently serves as division president in Oregon and has led regional growth efforts.

Josie Hyde will expand her leadership responsibilities to include Oregon in addition to her existing oversight of markets in Washington state.

“These leadership moves reflect who we are as a company and where we’re going,” said CEO Steve Ozonian. “Our focus has never been on being the biggest; it’s on being the best. The strength of this team, and the way we continue to develop and elevate leaders from within, positions us to deliver an even higher level of performance for our clients while continuing to help shape the future of our industry.

[Chairman Patrick Stone] and I are as engaged as ever, and we’re building the bench around us that will allow WFG to keep leading for decades to come.”

Stone added, “From the beginning, we set out to build a company designed for long-term success; one grounded in strong leadership, clear vision and a culture that supports both. What you’re seeing here is a continuation of that vision.” 

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.

This post was originally published on here. 

Auction.com announced Tuesday that it has appointed President Ali Haralson as co-CEO and a member of its board of directors, formalizing a shared leadership structure with Jason Allnutt at the distressed real estate marketplace.

Haralson, who has served as president since 2021, will lead the company alongside Allnutt, who took on the CEO role in 2018 and will remain on the board.

“Ali is an extraordinary leader, with exceptional market insight and deep industry relationships,” said Jim Carlisle, managing director and head of the technology business solutions investment vertical at THL Partners, which owns a majority stake in Auction.com.

“Her long-standing partnership with Jason makes this co-CEO structure a natural fit, and we’re confident in their joint leadership of Auction.com’s continued growth.”

As president, Haralson’s responsibilities spanned operations, business development, client partnerships and culture initiatives. In the co-CEO role, she will continue to work closely with Allnutt on company strategy, execution and growth, the firm said.

Allnutt will continue to focus on technology and product teams, with an emphasis on tools that improve the buying experience for the platform’s more than 8 million registered users. He will also work to broaden participation in distressed property auctions by more first-time homebuyers and other owner-occupant buyers.

“I’m proud to have Ali formally step into the role of co-CEO within a leadership structure we developed together and have been operating under for some time,” Allnutt said. “Over the past few years, we’ve had the opportunity to test this model while running Auction.com and see it work. We’re confident it’s the most effective way to position our company for continued growth and success in the years ahead.”

Haralson said the co-leadership model has proven effective as the company has scaled and navigated shifting market conditions in the distressed housing space.

“Jason has led the company with vision and resolve over the past decade, and it’s been a privilege to partner with him in that leadership journey,” Haralson said. “Together, we’ve come to value the strength of a co-leadership model, and I truly believe it will continue to serve our buyers, sellers, employees, and board in the years to come.”

The company’s private equity backers also signaled support for the new leadership structure.

“Auction.com has built a leading platform, and we’re proud of the team behind it. We believe Ali and Jason are exactly the right leaders for its next chapter,” said Agha S. Khan, co-head of private equity at Stone Point Capital.

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.

This post was originally published on here. 

Side has embedded a new suite of AI tools into its proprietary Side App to automate document checks, extract offer details, auto-tag signatures and deliver real-time business reporting for real estate agents and team leaders.

The San Francisco-based brokerage platform announced the launch at Side x Side 2026, its annual community event. The firm said this release targets what Side describes as one of the industry’s largest hidden costs: administrative drag in the transaction process. The new capabilities are built directly into the Side App, which Side said has supported hundreds of thousands of transactions since its 2017 debut. By integrating AI into existing workflows, the company aims to reduce errors, accelerate transaction prep and give leaders clearer visibility into performance.

As part of the launch, Side is rolling our four AI core features: AI document validation, which checks files in real time for missing information and disclosures; AI offer extraction, which scans uploaded offer packages and converts them into structured deal summaries in the Side App; AI auto-tagging, which detects and places signature, initial and date fields across contract packages automatically; and Reporting with AI insights, which uses conversational AI layered over Side’s reporting engine so agents and team leaders can ask plain-language questions about performance, growth and lead trends getting real-time insights and recommendations.

“At Side, we don’t approach AI as a standalone or a hype feature. We are building core transaction workflows with it,” Ryan Smith, chief technology officer at Side, said in the announcement. “The result is a Side App that understands documents, automates agent’s tasks, interprets offers, anticipates compliance needs, and surfaces strategic insights in real time.”

Co-founder and CEO Guy Gal said integrating AI directly into the Side App is intended to compress hours of administrative work into “moments,” freeing agents to spend more time with clients and in their communities.

Side said the tools will help its partner firms operate with more predictability in a market where margins are narrowing and productivity per agent is closely watched. The company said that Side partners who participated in the beta program reported measurable workflow improvements.

“These new AI capabilities represent a major step forward in how Side supports agents and teams,” Jose Medina, co-founder of Chez Realty in Miami, Fla., said in a statement. “From contract preparation to offer analysis, compliance readiness, and business insights, the Side App eliminates the manual friction that slows transactions down.”

In 2025, Side closed 28,894 transaction sides totaling $25.77 billion in sales volume, earning the company the No. 12 and No. 9 ranks for sides and volume, respectively, in the 2026 RealTrends Verified Rankings.

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.

This post was originally published on here. 

For Stuart Siegel, the conversation around brokerage growth starts with what it isn’t about.

“We focus on growth, not for growth sake,” Siegel said.

Instead of chasing market share or scale for headlines, Siegel said Engel & Völkers is prioritizing a more measured approach — one tied directly to the success of its franchisees.

“Market share, for me, is a function of what every one of our franchisees feels they need to achieve to be successful, not only in their market, but as business owners and operators,” he said.

That philosophy shapes how the company balances expansion with brand consistency. “It’s really an issue of understanding the balance between … headline growth, with growth that creates sustainable profitability, sustainable credibility and sustainable value to the brand,” Siegel said.

Seven brokerages affiliated with Engel & Völkers made the 2026 RealTrends Verified top brokerage list. Utah-based Engel & Völkers Gestalt Group was ranked No. 39 by sales volume.

Positioned to compete with consolidation

As consolidation accelerates across the brokerage landscape, most notably with the Compass/Anywhere acquisition, Siegel sees Engel & Völkers as a deliberate alternative. “We provide an alternative to consolidation,” he said.

Unlike competitors operating under multibrand portfolios, Siegel emphasized the company’s singular structure. “We’re a singular brand with a singular owner. … We’re not hedging against other brands that have come in as part of a consolidation,” he said.

That distinction, he argues, is increasingly resonating with agents and franchisees evaluating their options. “There are those who basically said, ‘I don’t need to be part of this bigger monolith,’” Siegel said.

Targeted global growth

The company’s expansion strategy reflects that same discipline, with growth concentrated in select international markets. “We have been having tremendous success in Mexico … tremendous success in Central America,” Siegel said, highlighting Panama, the Dominican Republic and Costa Rica as key areas of momentum.

Across regions, the focus remains consistent. “Choose your markets carefully, grow, choose who you grow with carefully and protect the overall quality integrity of the brand,” he said.

Consumer-first approach to industry change

Amid ongoing industry shifts — from lawsuits to portal competition and private listings — Siegel says the company is staying grounded in a simple principle: “Follow the needs of the consumer. If you do what’s in the consumer’s best interest, you will not fail,” he said.

That perspective informs his stance on listing strategies.

“Our job is not to sell real estate. Our job is to get it sold,” Siegel said. While acknowledging that some high-profile or unique properties may require a more limited approach, he made clear that broad exposure remains the default.

“Real estate sells through maximum exposure, full stop,” he said.

Reading the luxury market

Operating in the upper-tier segment, Engel & Völkers is seeing signals that extend beyond luxury into the broader housing market. “This is a market that defies prediction and defies definition,” Siegel said.

What stands out most, he added, is a shift in consumer psychology. “The biggest canary in the coal mine is this continually decreasing consumer confidence,” he said. Rather than focusing solely on rates or pricing, Siegel pointed to liquidity concerns as a key driver.

“That means I have to take $200,000 [out of the bank for a down payment] and $200,000 becomes illiquid the moment I close,” he said. “That’s what’s impacting the psychology of the market.”

At the high end, however, activity remains strong — particularly among ultra-wealthy buyers and sellers. “The number of $5 million-plus deals we’re doing [is] really responsible for the vitality of the company,” Siegel said.

Brand stability in uncertain times

Siegel attributes agent retention to a mix of local leadership and consistency at the brand level. “We’re not the bright, shiny object. We know who we are,” he said.

That clarity, he added, becomes even more important during periods of uncertainty. “In times of uncertainty, the consumer moves to brands they recognize,” Siegel said.

Over the next five years, Siegel expects a familiar cycle to play out as consolidation gives way to renewed competition. “After any kind of consolidation, the consolidation breeds competition again,” he said.

For brokerages looking to come out ahead, he pointed to a few defining traits. “The brokers who will win will be passionate, consumer-focused and maintain their brand integrity,” Siegel said.

For Engel & Völkers, that means staying the course. “We don’t aspire to be anything other than the best at selling real estate,” he said.

This post was originally published on here. 

The Agency and Realty ONE Group Excel have joined the growing number of real estate entities who have settled the homebuyer commission lawsuit claims via the Tuccori lawsuit opt-in settlement. 

The two firms informed Illinois-based Judge Georgia Alexakis, who is overseeing the Cwynar homebuyer commission lawsuit that they are both defendants in, of their decision to opt-in to the Tuccori settlement in a filing on Tuesday. In the filing they ask Judge Alexakis to stay proceedings in the Cwynar lawsuit pending the approval of their settlements in the Tuccori lawsuit. 

The financial terms of the settlements were not disclosed.

The window to opt-in to the Tuccori settlement closed earlier this week. The settlement is currently still waiting on final approval. 

Late last week, the National Association of Realtors (NAR) announced its decision to settle the homebuyers commission litigation through the opt-in function in the Tuccori settlement. In doing so, NAR joined several other firms including Anywhere Real Estate and Hanna Holdings. However, these settlements have not been without drama. Plaintiffs in the Batton suit, have been pushing back against defendants opting to settle these homebuyer commission lawsuit claims with the Tuccori plaintiffs. 

In March, these plaintiffs sought to block both Anywhere and Hanna Holdings from proceeding with their proposed settlements. 

These motions were denied, but the Batton plaintiffs have also sought to appoint the Tuccori plaintiffs’ attorneys as interim co-lead counsel in the Batton lawsuit. It remains to be seen if the Batton plaintiffs will also pushback against NAR’s choice to opt-in to the Tuccori settlement.

This post was originally published on here. 

Florida-based AD Mortgage released a study this week that compares the costs of renting and owning a home, with the analysis showing that home equity accumulation often pays more over time versus the alternative of renting and investing a potential down payment in the stock market.

The analysis compared typical city-level home values and rents using Zillow data. It also assumed the use of a standard 30-year fixed-rate mortgage at 6.11%, then projected outcomes over a 10-year period using state-level home price growth and an S&P 500 benchmark return of 10.35% compounded annually.

“Our goal with this study is to provide a clear, data-backed perspective on one of the most important financial decisions consumers face,” Max Slyusarchuk, CEO of AD Mortgage, said in a statement. “By analyzing long-term outcomes, we aim to support more informed conversations between borrowers and mortgage professionals.”

The lender’s study looked at the five most populous cities across all 50 states — 250 cities in total — using home value and rent price data as of March 17, 2026. It assumed that ongoing property taxes, homeowners insurance and maintenance would cost 2.5% of a home’s value annually.

Additionally, future home price growth was projected using the past 10 years of state-level price data from the Federal Housing Finance Agency. For renters, the study assumes any potential down payment was invested in the S&P 500. These total returns were compared to projected home equity accumulated after 10 years of homeownership to determine whether renting or buying was more profitable.

Homeownership was the more profitable choice in all 250 cities in the analysis when assuming a renter reinvested a potential down payment in stocks. And even when assuming a household reinvested both the down payment and any monthly savings from renting, homeownership came out ahead in 199 cities, or nearly 80% of the sample size.

Markets where homeownership wins

Many fast-growing markets in the Sun Belt show a large “equity advantage” for homeowners, even in locations where the monthly cost of owning exceeds that of renting, AD Mortgage found.

Miami topped this list as accumulated equity over 10 years was projected to top $1.043 million, largely tied to estimated home price growth of 149% over that period. The advantage of owning in Miami totals $509,451 after 10 years, even though the monthly cost of owning there ($3,981) is significantly higher than the cost of renting ($2,964).

Three other Florida cities were listed in the top five nationally in terms of having an equity advantage: St. Petersburg ($361,852), Tampa ($340,562) and Orlando ($317,027).

Idaho also ranked highly for owner profitability as Meridian was No. 3 nationally with an equity advantage of $349,590 after 10 years. And the other four cities in the Gem State that were analyzed — Boise, Nampa, Caldwell and Idaho Falls — each had equity advantages of at least $234,000.

Other major cities where homeownership paid off relative to renting included Las Vegas ($222,457 more than renter-investors), Charlotte ($123,308) and Seattle ($90,628).

These markets illustrate the study’s core point: Even when the monthly gap between owning and renting is large and results in negative cash flow for homeowners, long-term home equity growth can dominate the renter-investor path under the stated assumptions.

AD Mortgage also uncovered 26 cities where the monthly cost to own a home was less than renting. Detroit led the way as owning a typical home there costs $799 per month less than renting one. Other major markets that fell into this category include Cleveland ($556 per month less); Baltimore ($407); Birmingham, Alabama ($375); Philadelphia ($143); and Chicago ($125).

“These cities represent the strongest ownership case in the study: markets where buying does not require a monthly affordability sacrifice and still provides the long-term wealth-building benefits of leverage, appreciation, and principal paydown,” the study explained.

Markets where renting and investing wins

In a smaller set of cities — often high-cost or low-growth markets — the renter-investor path outperforms homeownership on a 10-year horizon.

In Los Angeles, for example, even as projected equity accumulation totals more than $1.15 million after 10 years, renters who invest their hypothetical down payment and monthly savings come out ahead by roughly $163,000.

Three other California cities — San Jose, San Diego and San Francisco — also saw long-term advantages for renters ranging from about $169,000 to $449,000.

AD Mortgage singled out low-cost markets in North Dakota where equity disadvantages of $105,000 to $160,000 emerge after 10 years, which are “driven by relatively modest projected price growth versus the assumed equity market returns.” Similar disadvantages for homeowners can also be found in higher-cost markets like Cambridge, Massachusetts; Pearl City, Hawaii; and Arlington, Virginia.

For real estate agents and mortgage loan officers, these markets underscore the importance of aligning home purchase decisions with buyer’s expected holding period, income volatility and risk tolerance, rather than assuming that homeownership will always dominate on a 10-year timeline.

The analysis mentioned multiple “assumptions and limitations” that should be taken into consideration, noting that “these are modeled outcomes under fixed assumptions, not personalized guidance.”

For example, the 6.11% mortgage rate and 10.35% compounded return for stocks that were used for analysis purposes are “static and backward-looking,” the study noted, and “actual results will vary with future rates and market returns.” Similarly, state-level home price appreciation data “may overstate or understate outcomes in individual neighborhoods.”

Full details of the 250 cities analyzed by AD Mortgage are available here.

This post was originally published on here. 

Mortgage lenders and servicers are facing strict new artificial intelligence (AI) and machine learning guidelines from the government-sponsored enterprises (GSEs) that industry attorneys warn will significantly impact daily operations.

The requirements apply well beyond obvious applications like underwriting engines or credit decisioning models. They extend across multiple business areas and stakeholder touchpoints, creating new liability for companies that fail to follow the rules, they said. 

Fannie Mae issued its AI and machine learning governance standards through a lender letter on April 8, with the rules taking effect in August, 120 days after publication. This follows Freddie Mac‘s own AI requirements that became effective March 3.

In the case of Freddie Mac, companies must implement companywide controls to map, measure and manage AI risks related to bias, security vulnerabilities and performance. Documented roles, responsibilities and escalation paths must support this framework. It applies to any usage, including vendor tools embedded in document processing, fraud detection, quality control, customer communications and other operational workflows.

“Freddie Mac raised the bar on how approved Seller/Servicers govern artificial intelligence and machine learning,” Troy Garris, co-managing partner at Garris Horn LLP, wrote in a blog post. “Section 1302.8 will move beyond basic policy requirements and into a clear expectation: approved mortgage companies must operate an auditable AI governance program.”

Garris advised mortgage leaders to inventory all AI tools across their enterprise. This inventory should document the business purpose, owner, and connection to origination or servicing activities for each tool.

Companies also need governance structures to determine which executive owns AI risk, monitor model performance, assess specific threats and prepare for audits.

“AI governance is not a future compliance project. It is a present-tense operational requirement,” James Brody, a founder and managing partner at Brody Gapp LLP, wrote in a newsletter to clients. 

Brody and his partner, Ron Gapp, wrote in a guide for the new framework that Freddie Mac takes a prescriptive approach by telling companies exactly what to build, while Fannie Mae relies on a principles-based standard.

Under Fannie Mae‘s framework, companies must ensure transparency for personnel with AI responsibilities, incorporate ethical AI characteristics and reflect legal requirements. Lenders must also calibrate risk management to their tolerance levels and designate an owner to review policies at least annually.

Lenders and servicers must also comply with Fannie Mae’s security and business resiliency supplement starting Aug. 12, 2025. This covers cybersecurity controls, 36-hour incident notification and business continuity. Companies must manage vendor AI risks and prepare to disclose their AI governance practices upon request.

Brody and Gapp pointed out that Fannie Mae omits specific requirements for segregation of duties, audits, AI security threats or audit trails — all of which Freddie Mac requires. Consequently, lenders that build to Freddie Mac’s stricter standard will likely satisfy Fannie Mae’s rules.

According to them, every mortgage company must be ready to produce an AI tool inventory, operational documentation, safeguard descriptions and governance records on demand.

This post was originally published on here. 

Southeast MLS Alliance has expanded its regional data-sharing network with the addition of realMLS, extending coverage into northeast Florida and increasing connectivity across the Southeast.

The alliance — which includes CHS Regional MLS in Charleston, South Carolina; Realtracs in Nashville, Tennessee; Canopy MLS in Charlotte, North Carolina; and Georgia MLS — now represents more than 118,000 subscribers across multiple metropolitan markets.

Leaders said the initiative is designed to provide agents and brokers with greater access to listing data across participating MLS systems, allowing for increased exposure of properties and more referral opportunities across state lines.

Nicole Jensen, CEO of realMLS, said expanding into Florida aligns with the organization’s focus on improving access to data and reducing friction for users.

“This opportunity for realMLS to join the Southeast MLS Alliance aligns with our commitment to transparency, efficiency and better outcomes for agents and the consumers they serve,” she said. “Expanded access to listing data across the Southeast, available directly within the realMLS platform supports our ongoing efforts to eliminate barriers and empower our customers with the information they need to succeed.”

CHS Regional MLS CEO Joseph Cullom said expanding the network increases value for participants across the system.

“The Southeast MLS Alliance was built on the idea that stronger regional connections lead to better outcomes for everyone in the transaction — agents, brokers, and consumers,” he said. “Adding realMLS and the Northeast Florida market to that network is a natural fit.

“Each addition to the Alliance expands the value of membership for every MLS and every professional already part of it.”

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.

This post was originally published on here. 

The Lubbock Association of Realtors (LAR) is partnering with buy-side technology firm Gitcha to integrate its Buyer Listing Service platform into the association’s multiple listing service (MLS), according to an announcement on Monday. 

The trade group said this partnership gives more than 1,700 members the ability to publish standardized “want-listings” alongside traditional for-sale inventory. The integration will be available to all LAR members through the MLS.

Gitcha’s Buyer Listing Service (BLS) is designed as an MLS workflow tool that lets buyer agents convert active client needs into structured, shareable listings. Those “want-listings” become a new listing segment that sits next to conventional for-sale listings, giving listing agents visibility into real-time, unserved demand. Gitcha positions the tool as a way to standardize buyer representation, reinforce agent cooperation and improve market transparency.

“Agents have long shared buyer needs in private Facebook groups and informal networks, often leading to fragmented cooperation and the rise of exclusive private listing networks that undermine market transparency,” Cade Fowler, executive officer of LAR, said in the announcement. “By integrating Gitcha’s BLS into our MLS, we’re building stronger, direct connections among all of our agent members in a structured environment, empowering them to match buyers and sellers more efficiently while setting a standard for inclusive, data-driven practices.”

Gitcha CEO Dan Cooper said LAR’s leadership viewed the move as an opportunity to move beyond traditional saved-search tools for buyer agents. The company is marketing BLS as a way for MLS organizations to adapt to ongoing industry changes by explicitly documenting buyer-agent activity and value inside the MLS rather than in off-platform channels.

The BLS also ties into Gitcha’s public-facing portal, where licensed agents’ buyer want-listings are displayed in a searchable marketplace. That environment is designed to help surface demand to sellers, builders and investors, and to inform local planning decisions with current buyer-intent data, according to the announcement.

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.

This post was originally published on here. 

Baby boomers remain the largest share of homebuyers in the U.S. — while first-time buyers have dropped to the lowest level on record, according to the National Association of Realtors (NAR).

Boomers accounted for 42% of all home purchases, unchanged from the prior year, according to the NAR 2026 Homebuyers and Sellers Generational Trends report.

Millennials made up 26% of buyers, down from 29%, while Gen X rose slightly to 25%. Gen Z and the Silent Generation each represented 4% of buyers.

At the same time, first-time buyers accounted for just 21% of all transactions — down from 24% a year earlier and the lowest level since the organization began tracking the data in 1981.

“The housing market remains sharply divided between homeowners with equity and first-time buyers trying to break in — many of whom are younger Millennials,” said NAR Deputy Chief Economist Jessica Lautz. “For many younger households, affordability challenges and limited inventory are still making homeownership difficult to achieve.”

Data takes home transactions into account that were completed between July 2024 and June 2025.

First-time buyers lose ground

The report showed a decline in first-time buyers across nearly all age groups.

Among younger Millennials, 60% were first-time buyers — down from 71% the previous year. Older Millennials also saw a decline, with 33% entering the market for the first time compared with 36% a year earlier.

Shares among older generations remained low. Just 8% of younger Boomers and 4% of older Boomers were first-time buyers, while the Silent Generation dropped to 3%.

Data reflects broader affordability challenges and higher mortgage rates that have made it more difficult for new buyers to enter the market.

Move-up buyers, multigenerational buying

While Millennials lost overall market share, older members of the generation are increasingly purchasing larger homes and leveraging accumulated equity.

Older Millennials reported the highest median household income among all buyer groups at $132,700. They also purchased the largest homes — with a median size of 2,100 square feet — and were less likely to be first-time buyers compared with their younger counterparts.

“Older Millennial buyers are now entering middle age, and with that comes a shift,” Lautz said. “This cohort is now the highest-earning generation of homebuyers, buys the largest homes and is most likely to have children living with them. Those traits were once more commonly associated with Gen X buyers, who are now increasingly looking toward empty-nesting and retirement.”

Multigenerational home purchases declined overall, accounting for 14% of all transactions and down from 17% the previous year.

The trend varied by age group. Younger and older Millennials increased their participation in multigenerational purchases, while Gen X, Boomers and the Silent Generation saw declines.

Common reasons for these purchases included caring for aging parents, reducing housing costs and accommodating adult children returning home.

Gen Z reshapes early homeownership trends

Gen Z buyers — though still a small share of the market — are beginning to influence homeownership patterns.

Among Gen Z buyers, 35% were single women, the highest share among all generations. Another 17% were unmarried couples, also the highest among age groups.

“What stands out about Gen Z is how confidently they’re beginning to define homeownership for themselves,” Lautz said. “They may still be a small share of the market, but they’re already challenging old assumptions about who buys a home and when.

“For many of these buyers, marriage and children are no longer the defining milestones before a home purchase. The driving force is simply the desire to own a home of their own.”

Boomers lead home sellers

Baby Boomers also dominated the selling side of the market, accounting for 55% of all home sellers.

Across all generations, sellers typically remained in their homes for a median of 11 years. Younger Millennials sold after about five years, while older Boomers stayed in their homes for roughly 15 years before selling.

“Baby Boomers are at a point in life when they have the flexibility to move, often with housing equity to help purchase their next home,” Lautz said. “In earlier years, Baby Boomers — like Millennials today — may have moved because of a job change or the need for a larger home.

“Today, many Baby Boomers are embracing choice and moving to be closer to friends and family, to downsize, or to retire and enjoy a work-free lifestyle.”

Agents remain central to transactions

Despite changes in buyer demographics, most transactions continue to involve real estate agents.

Among buyers, 88% purchased their home through an agent and 91% said they would use their agent again or recommend them to others.

On the selling side, 91% of sellers worked with an agent. Homes typically sold for a median of 99% of the final list price.

Older Millennials were the most likely to use an agent when selling, at 92%. Younger Millennial sellers were among the most likely to exceed asking price, with 19% selling for 101% to 110% of list price and 11% selling for more than 110%.

Jonathan Delozier reported and wrote this article with drafting assistance from HousingWire Automation, an editorial tool that helps transform announcements and industry data into HousingWire-style news coverage.

This post was originally published on here. 

Lamacchia Realty has acquired Somerset, Mass.-based Rosewood Realty and its affiliated Rosewood Real Estate School, expanding the brokerage’s footprint and training platform in Bristol County and across Massachusetts, the company announced Monday.

The deal brings Rosewood’s brokerage operation and its real estate licensing school under the Lamacchia Companies umbrella, while Rosewood broker-owner Eric Alberto and 16 agents will join Lamacchia’s Fall River office, according to the announcement.

Rosewood Realty, founded in 2013, has built a presence in Bristol County around community ties, education and a client-first model. Alberto started his real estate career in 2004, became a broker in 2007, and previously worked with Century 21 Anchor and at his own firm, Eric Alberto Realty, before launching Rosewood.

This acquisition deepens Lamacchia Realty’s coverage of Massachusetts’ south coast, adding Rosewood’s Somerset-based team to Lamacchia’s existing Bristol County offices in Easton, Fall River and New Bedford, as well as its East Providence, Rhode Island, location.

In 2025, Lamacchia Realty recorded 5,944 transaction sides, totalling $3.27 billion in sales volume earning it the No. 68 and No. 79 ranks in the nation for sides and volume, respectively, in the 2026 RealTrends Verified Rankings.

“I’m excited to have Rosewood Realty join Lamacchia Realty. Eric has built a great company, and we are thrilled to welcome him and his [real estate professionals],” Jackie Louh, Lamacchia Realty’s chief operating officer, said in the announcement. “We now have a real estate school, with Eric at the forefront of that — we now have an even bigger opportunity to invest in agents at every stage of their careers.”

Alberto said the move will give his agents more tools and support while aligning with his focus on education.

“I couldn’t be more excited to join forces with Anthony and his team at Lamacchia Realty,” Alberto said. “The tools, systems and technology they provide are second to none and will put our agents in a position to grow, succeed and most importantly, better serve their clients. Their dedication to educating agents aligns perfectly with our mission through Rosewood Real Estate School.”

In addition to the brokerage, the acquisition also includes Rosewood Real Estate School, founded in 2019. The school, which offers pre-licensing and continuing education courses, will now operate within Crush It In Real Estate, the training brand owned by Lamacchia Companies.

Alberto will retain an ownership stake in the school and remain its head teacher. Lamacchia Companies plans to expand the school’s reach by adding virtual classes and on-demand video coursework modeled on the Crush It In Real Estate training program that Lamacchia launched more than a decade ago.

By the end of summer 2026, the licensing courses led by Alberto are expected to be available across Massachusetts, according to the announcement.

Lamacchia Companies owner Anthony Lamacchia said having an in-house real estate school is a strategic step for agent recruitment and development.

“There is no doubt that we are all stronger working together than apart,” Lamacchia said. “We will not only grow it in this region but also across Massachusetts and likely beyond.”

Part of a broader acquisition strategy

The Rosewood deal marks Lamacchia Realty’s 14th acquisition in New England in about two and a half years as the company pursues scale across the Northeast and in select Sun Belt markets. Earlier this month, the firm announced its acquisition of Weichert Realtors – Briotti Group, expanding its Connecticut presence with new offices in Waterbury and Wolcott. 

The company said it is also working on acquisitions in South Florida, signaling the growth of its Florida operation. 

The company said it will be “business as usual” for existing Rosewood clients after the acquisition. All current listings and pending sales are expected to continue without interruption, and Lamacchia plans to roll out its lead-generation tools, services, technology and training to the former Rosewood agents in the coming weeks.

This article was written by Brooklee Han and generated with the assistance of HousingWire Automation. It was reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.

This post was originally published on here. 

As Americans file their taxes this week, many are seeing firsthand how housing policy shapes their financial future.

For homeowners, prospective buyers and real estate professionals, this year’s returns reflect the real impact of last year’s tax reform legislation, the One Big Beautiful Bill Act. The takeaway is straightforward. Pro-growth tax policy is delivering results.

That did not happen by accident.

The Trump administration, working with leaders in Congress, made a deliberate decision to prioritize economic growth, small business stability and homeownership. Those choices are now showing up in tangible ways as many Americans are seeing lower tax bills and higher refunds.

Before leading advocacy at the National Association of Realtors, I worked on financial services policy in Congress and at the U.S. Department of the Treasury. I saw how decisions made in Washington translate into outcomes for families and businesses. Today, representing more than a million Realtors, I see those outcomes playing out across housing markets nationwide.

This tax day, the benefits are clear

Homeowners are seeing the continued value of the mortgage interest deduction, which helps make homeownership more attainable and sustainable.

Small business owners, including most real estate professionals, are benefiting from a strengthened and permanent qualified business income deduction.  This big benefit allows them to reinvest in their businesses and their communities.

Families in high-cost states are seeing relief from an increased SALT deduction cap, helping ease their overall tax burden and making homeownership more feasible.

Long-standing tools like 1031 exchanges remain in place, continuing to support property investment, housing turnover and the supply needed to meet demand.

These are not abstract policy ideas. They are real savings and real incentives showing up in tax filings across the country.

They are also the result of sustained advocacy. Realtors have worked with policymakers on both sides of the aisle to protect pro-housing provisions and push for reforms that reflect today’s market. This law builds on that work and delivers one of the most meaningful tax outcomes for real estate in years.

At a time when affordability remains a challenge and the nation continues to face housing supply and inventory shortages, policy certainty matters. It gives buyers confidence, supports investment and helps keep the housing market moving.

Recent NAR polling highlights strong voter support for targeted tax solutions, with 84% backing tax-free savings for down payments, 76% supporting a one-time home sale with no capital gains taxes and majorities favoring expanded capital gains relief and incentives to boost housing supply.

There is more work ahead. Expanding supply and unlocking inventory will require continued focus and smart policymaking.

But this tax day offers a moment to recognize what is working.

When policymakers prioritize housing, support small businesses and focus on long-term growth, the benefits show up where they matter most. In communities, in markets and in the financial futures of American families.

Shannon McGahn is the first female Chief Advocacy Officer for the National Association of REALTORS with an extensive background in financial services and housing policy.

This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners. To contact the editor responsible for this piece: tracey@hwmedia.com

This post was originally published on here. 

Culture isn’t something you define once. It’s something you prove every day through what you reward, what you allow, and what you model when no one’s watching.

That distinction matters because most organizations treat culture as a document. They write the values, post them on the wall, and move on. But if culture only exists in a values deck, it doesn’t exist at all. What leaders consistently demonstrate becomes the standard. What they tolerate becomes the norm.

At our organization, we talk about being both a “coach and a player.” That’s not a metaphor, it’s a job description. Leadership isn’t about setting expectations from a distance. It’s about embodying them in real time, especially under pressure, especially when it’s inconvenient.

Hiring is where culture gets tested

Once a leadership standard exists, hiring is where it either holds or quietly erodes.

Most organizations underestimate hiring or treat it as transactional. Building a strong organization requires more than comfort. It requires intentionality. Before you can hire for culture fit, you have to be able to articulate what your culture actually is.

And culture fit isn’t assessed through a single answer. It’s revealed through patterns.

I pay close attention to how candidates talk about their past. Do they take accountability, or do they default to blame? Strong candidates say “I,” not “they.” If everything was someone else’s fault before, it will be again. I also listen to how they talk about previous teams, even difficult ones. How someone speaks about their last team is how they’ll speak about yours.

The questions candidates ask often tell you more than their answers. Strong candidates want to know how decisions get made, how success is measured, and how feedback flows. That curiosity (paired with self-awareness and honesty about both strengths and gaps) is one of the clearest signals of coachability. You learn the most when the script runs out.

Here’s the piece most hiring managers miss: you’re not just evaluating candidates. They’re evaluating you. Every interview is a cultural artifact. It either reinforces what you say you stand for or quietly contradicts it. Even candidates you don’t hire should leave wanting to work for your organization. The interview process is not just an evaluation; it’s a reflection.

You’re not hiring talent. You’re deciding what behaviors you’re willing to scale.

Culture lives in the moments you don’t plan for

Strategy sessions don’t build culture. Neither do values workshops or all-hands decks.

Culture is built in the moments that are easy to overlook: how feedback gets delivered when something goes wrong, how accountability is handled when it’s uncomfortable, how decisions get made under pressure. These repeated behaviors define what a culture actually is.

Feedback is one of the clearest tests. In strong organizations, it’s timely, direct, and rooted in respect. It doesn’t wait for formal reviews. When feedback is handled well, it creates clarity and builds trust. When it’s avoided or rendered useless, it creates confusion and erodes confidence over time. How leaders give and receive feedback shapes how it shows up everywhere else.

The smaller moments matter too. Team lunches, happy hours, or something as simple as a cross-state Secret Santa may seem small, but they create connection. Especially in a distributed organization, these moments help bridge gaps, build relationships, and reinforce that every individual is part of something bigger. Over time, these small investments build trust, strengthen psychological safety and create a culture people genuinely experience.

Culture isn’t a question of whether your organization has one. Every organization does. The only question is whether you’re shaping it with intention or letting it form by default.

Jamie Bridges is Director of People Operations at HousingWire.
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners. To contact the editor responsible for this piece: zeb@hwmedia.com.

This post was originally published on here. 

As interest rates remain elevated compared to historic, pandemic-era lows, many homeowners are rethinking how to access cash without giving up the favorable rates they locked in just a few years ago. For originators, that shift is creating a clear opportunity. Demand for home equity lines of credit (HELOCs) is gaining momentum, as borrowers seek flexible ways to tap into home equity while keeping their existing first mortgages in place.

In today’s market, HELOCs have evolved from a secondary product into a primary revenue driver for originators. From consolidating higher-interest debt to funding renovations and investment opportunities, borrowers are turning to home equity to support longer-term financial goals. 

To better understand how these trends are taking shape in practice, I spoke with Fredrik Megerdichian, President of Icon Mortgage. Together, we explored borrower demand, how HELOCs are being integrated into product strategies, and the overall outlook for activity through 2026.

What’s driving HELOC demand today

The fundamental driver of the HELOC trend is simple: interest rates and record-breaking home equity. With millions of Americans locked into mortgage rates below 4%, refinancing can be a tough sell. Simultaneously, homeowners today hold nearly $35 trillion in total home equity and roughly  $11 trillion in tappable home equity — a staggering figure that represents a level of financial security they’ve never had before.  

For originators, that dynamic is showing up in the types of conversations they’re having with clients, as more borrowers look for ways to access cash without giving up their existing first mortgages. Megerdichian noted that much of that demand is tied to borrowers looking to consolidate higher-interest debt, often using home equity to lower monthly payments and manage more expensive obligations.

At the same time, borrowers are expanding how they use home equity, creating more opportunities for originators to support both near-term needs and longer-term goals. Megerdichian observed this trend toward expansion: “We are seeing a tremendous amount of interest from borrowers to buy more property using those funds and to also renovate,” highlighting how these products are being used as proactive financial tools. In some cases, that extends to major life expenses as well, as borrowers may use home equity to cover large costs that might otherwise require higher-cost financing.

Where HELOCs fit in today’s originator toolkit

For originators, this isn’t a signal to wait for the market to “return” to old patterns. Instead, it’s an invitation to master a different set of tools. As borrower needs continue to shift, HELOCs are providing originators greater flexibility to broaden their offerings and meet a wider range of clients. Rather than relying solely on traditional refinancing, many are using HELOCs to expand their product mix and stay engaged with clients when markets may otherwise be quiet. 

What stands out in practice is how consistently these products are coming up in day-to-day activity. Megerdichian noted that this flexibility is resonating with borrowers and driving consistent interest. “Second liens have become very big part of our everyday transactions,” he said, adding that “every day there’s a call inquiry about these things.”

That steady interest also helps originators address needs that do not always fit neatly within traditional lending standards. HELOCs can be a strong fit for self-employed borrowers, entrepreneurs, and others with more complex financial profiles. When paired with non-QM solutions, they can help expand access to capital for borrowers who may not qualify through traditional banks.

Outlook for HELOC activity through 2026

As we look toward the next 6 to 12 months, the outlook for HELOC activity remains steady, even amid ongoing rate uncertainty. That shift also creates new opportunities for originators to reconnect with past clients and reintroduce lending solutions that may not have made sense in a higher-rate environment.

Megerdichian expects that demand to hold, regardless of marginal rate fluctuations. “If rates do drop, I think it will spark even more demand to borrow,” he explained. Lower rates would decrease the cost of the “draw” on a HELOC, making it even more appealing for homeowners to pull the trigger on those delayed renovations or property investments.

The consensus among industry leaders is that we have moved past the era where the HELOC was a “secondary” or “emergency” option. It has transitioned into a cornerstone of the modern lending landscape, likely to remain a dominant force through 2026 and beyond.

Leading with Value

The rise of the HELOC is a sign of a maturing, equity-rich housing market. Homeowners are no longer looking for the simplest way to get a lower rate; they are looking for the smartest way to manage their total household wealth.

For originators, the opportunity lies in education and proactive outreach. By utilizing second-lien options and non-QM flexibility, you are positioning yourself as a vital resource in a complex economy. The $11 trillion in equity is a massive opportunity, but it requires an originator who knows how to unlock it. Those who embrace this shift today will lead the market tomorrow.

Tom Hutchens is the President of Angel Oak Mortgage Solutions.
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners. To contact the editor responsible for this piece: zeb@hwmedia.com.

This post was originally published on here. 

The American Dream has a math problem. Millions can’t afford homes. Those who can, can’t find them. And many who already own don’t have enough saved to retire. It’s gridlock, compounding and dangerous enough to stifle homeownership as a pathway to stability, wealth creation, and retirement longevity. There’s been no shortage of possible fixes suggested, but they’ve largely existed in silos depending on who’s proposing them. Nothing systemic has materialized. 

What’s needed is a framework spanning the entire ecosystem: housing inventory, buyer access, mortgage structure, lending standards, capital markets, tax policy.

Every element is reliant on the other, which makes implementation incredibly difficult and, perhaps for that reason, more likely to actually work. Of course, some aspects will require deeper policy and legal analysis to validate before it can be implemented, tested, and scaled. 

Where it starts: The lock-in 

Homeowners locked into generationally low pandemic-era rates have no financial reason to move regardless of life circumstances. FHFA‘s National Mortgage Database shows that as of Q4 2025, about 50% of outstanding mortgages carry a rate below 4% with nearly 20% below 3%. Many homeowners also sit on significant equity appreciation that would generate capital gains taxes above existing exclusion thresholds if they sold. For those at/near retirement, both locks are compounded by a third: their home is their primary retirement asset, and current policy makes it nearly impossible to convert it into retirement savings without a severe tax event. 

Here’s what an interdependent framework could look like: 

The trigger: Rate portability & capital gains waiver 

Homeowners can choose one of two options for a predetermined period of time: Option A: sell their home and port the existing rate to the next purchase; Option B: sell their home with capital gains above the existing exclusion waived up to a defined percentage of the sale price, accepting the prevailing interest rate on the next purchase or buying in cash. 

Homeowners will have 120 days to transact before the window expires. If they fail to sell during that time, there’s a 120 day penalty period before the process can be restarted. 

Retirement-age incentives 

Option A Incentive: The window to port an existing rate to the next home purchase extends to 180 days, giving homeowners more time to sell.

Option B Incentive: Sellers receive a higher capital gains waiver, and if those gains are deposited into a qualified retirement account they receive additional favorable tax treatment to convert housing equity into retirement savings without penalty. This acknowledges the reality that a generation of Americans treated their home as their retirement plan and creates a mechanism to actually execute that plan. 

For retirement-age sellers who still carry a mortgage and are purchasing their next home in cash, a third path exists: assumability. Rather than surrendering their existing low rate at closing, they can leave it with the property and allow the buyer to assume it. The buyer inherits the rate and bridges the gap to the purchase price with a second mortgage or cash. For anyone priced out at current rates, stepping into a 2.8% mortgage is a meaningful advantage. Fannie Mae and Freddie Mac notes are technically assumable today, but the policy framework to make it a standard option is what’s missing.

The Self-Sorting Mechanism 

Tranche 1 (Rate Portability): Sellers whose primary barrier is monthly payment shock. Trading a 2.8% rate for a 6% rate is financially prohibitive, so portability is their path forward.

Tranche 2 (Capital Gains Waiver): Sellers sitting on significant appreciation where the capital gains tax hit is the barrier to selling will likely take the waiver. Retirement-age sellers in this tranche automatically receive a higher capital gains waiver, and those who deposit those gains into a qualified retirement account receive an additional tax benefit, converting housing equity directly into retirement savings.

The chain reaction 

1.Downsizer. Many fall into Tranche 2, often with retirement-age incentives. They’ve been in their home for 20 or 30 years with appreciation well above exclusion limits. The capital gains waiver removes the tax barrier and the retirement account provision gives them a reason to act now. They sell and family sized inventory returns to the market. Downsizers purchasing in cash who still carry a low-rate mortgage may also choose the assumability path, passing that rate to the buyer and making their property more competitive in the process. 

2.Upgrader. Many fall into Tranche 1. They bought a starter home three or four years ago at around 3% and haven’t built the kind of equity that makes capital gains the issue. Their problem is rate shock. Portability lets them buy a larger home, whether that’s the one the downsizer just freed up or new construction that was unreachable at current rates. The starter homes they vacate return to the market.

3.First-time buyer. They never touch either rate portability or the capital gains waiver directly, but benefit from both downstream. That’s because as upgraders move out, more starter homes become available at realistic listing prices driven by seller urgency. Some benefit directly from assumability, stepping into a seller’s existing low-rate mortgage rather than financing at current rates. This is who the entire chain reaction is designed to serve.

4.Homebuilder. Upgraders choosing new construction give builders a market for mid-range and upper mid-range homes that has been largely frozen. As starter homes turn over and first time buyers enter the market, builders see sustained demand at lower price points, giving them a stronger business case to build homes that serve the first time buyer. Federal incentives for affordable construction already exist, but are less effective when the broader market isn’t moving. Building more homes adds net new units to housing stock and creates jobs and economic activity in many other areas beyond housing.

5.Institutional investor. For Tranche 1 transactions, the rate spread between the portable rate and the prevailing interest rate gets securitized in a structure similar to how mortgage backed securities already work. The government packages the total expected spread across a pool of portability transactions as a fixed income security. Investors buy at a discount and collect returns over time, subject to the same prepayment and default risks that traditional MBS investors already price for. Institutional capital that was previously buying physical homes now has a familiar, liquid alternative that generates returns without removing a single unit of housing stock. Tranche 2 transactions generate zero rate spread to securitize, further reducing the overall cost of the program. Assumability transactions present no disruption to existing MBS pools. The loan stays exactly as securitized, and at current loan-to-value ratios the credit profile of an assumed loan is generally stronger than it was at origination.

How it gets funded 

Tranche 1’s securitization model mirrors the existing MBS framework facilitated through Ginnie Mae, Fannie Mae, and Freddie Mac. The mechanism isn’t new, only its application is.

Tranche 2 costs the government foregone capital gains tax revenue, but generates zero rate spread. The retirement account provision carries its own cost in foregone revenue, offset to some degree by reduced future pressure on social safety net programs. The self-sorting mechanism means the government isn’t bearing all costs on every transaction. 

Assumability carries no direct cost to the government. The rate stays with the property, the loan stays in the existing pool, and no tax revenue is foregone.

The underwriting layer 

Everything above increases supply and creates pricing pressure that favors buyers. But none of it matters if qualification standards haven’t evolved. If lending guidelines are still built around income documentation models that don’t reflect how people actually work and earn today, the chain reaction stalls at the most critical point. Underwriting reform is what determines whether housing mobility actually translates into ownership.

This framework isn’t a silver bullet, but it might bring enough people to the table to stop talking in silos. Congress should convene a steering committee spanning every industry touched by this framework, hammer out a pilot program with a defined timeline, stand it up where the gridlock is most acute, and then scale it.

Bill Dallas is Chairman of Dallas Capital and Mike Boccio is President of Pragmative Communications.
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners. To contact the editor responsible for this piece: zeb@hwmedia.com.

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In the male-dominated space of real estate tech companies, 26-year-old Brynn Carmody stands out. 

“It is definitely hard walking into serious spaces like AI and being taken seriously,” Carmody said. “I’m young, I’m a woman and it’s a bootstrapped company, so I don’t have those typical signals people look for, for credibility, but what I do have is a product I actually built and the lived experience as a [real estate] agent that a lot of my competitors in this space don’t have.” 

Carmody’s experience as an agent inspired her to create Her Market Lab (HML), an enterprise AI infrastructure platform designed for individual agents. She officially launched the product on Monday. 

After studying marketing and advertising, Carmody entered the real estate space, first as a marketing and transaction coordinator before getting her real estate license and joining a two person real estate team.

“In that first year I had my license, I implemented systems I had honed as a transaction coordinator, and I drove our gross commission income growth by over $250,000,” Carmody said. “This showed me that systems were the answer to many common brokerage challenges.” 

But with herself as the center point of these systems, Carmody said she quickly found herself burning out. 

“Every follow-up, every piece of content, every listing prep for the team ran through me,” Carmody said. “So, every time deal flow picked up, which is the ultimate goal of everything, our back end and my brain, which was processing all of it, would be in chaos. Content would go dark, leads would slip through the crack — it was just a chaotic mess. I was simultaneously our biggest asset and the source of your biggest bottleneck, and it just burned me out. I had no way to keep up when things got busy.” 

Stepping back from the chaos

This burn out forced Carmody to take a step back and examine the challenge she and thousands of other agents were facing as they work to keep up with not only their business, but also the rapid pace of technology evolution. 

“Everyone was using some version of the same broken tech stack,” Carmody said.

This inspired her to create HML. Built on SaaS platform Go High Level, HML incorporates a smart CRM, email marketing capabilities, a social media publishing platform and a fully integrated AI layer, according to Carmody. 

“The AI layer is like having Claude or ChatGPT inside of your CRM. It has access to all of your business details, data and transactions,” she said. “We also have a brand studio built in, so agents can input their brand voice and the AI will pull from that when responding to leads.” 

In addition, agents can input compliance and regulatory documents to ensure that the response generated by the AI comply with local regulations. 

Building a community

While HML is a tech platform, Carmody is also using it to create a community of agents. 

“Not only are members getting a whole suite of business tools, from their CRM to AI employees, they are also gaining access to a community of [real estate professionals],” she said. “We do a weekly ‘lab’ where I teach them how to actually implement these AI tools into their business.

Carmody acknowledges that the onslaught of AI tools being marketed to agents can be overwhelming and agents don’t have hours to spend testing out new products to figure out what works best for them and their business. So, as part of HML she is earmarking time to research and try new products so she can help agents sort through all of the AI noise. 

“The weekly lab is a point where agents can come together and collaborate and learn from each other, so challenges and implementing new tools can be less overwhelming and more accessible.” 

HML is currently onboarding agents who wish to be beta testers. Agents who sign up before the end of the month will receive a discount on HML. Carmody also acknowledged the risk she is taking by marketing the platform specifically to female real estate professionals. 

“Right from the beginning agents and mentors of mine asked why I would cut out half of my potential audience by marketing specifically to women,” Carmody said. “I feel that real estate is a woman’s business. The numbers show that the majority of Realtors in North America are women. I think we are very relationship-based people, we’re empathetic and able to connect, and I think those are the qualities top agents build their businesses on.” 

Looking ahead, she says her immediate focus is proving that her model works and that there is a need for her product. 

“I want to gather real case studies and show what actually changes for an agent when they have the right infrastructure to build their business,” she said. 

In addition to this, she is currently working on integrating MLS data into the HML platform enabling agents to create and run their own IDX websites and set up listing alerts. In the future, she hopes to expand HML for teams and brokerages and find a way for agents who run ancillary operations like a coaching business to integrate all aspects of their business into the platform. 

“Big picture, I want Her Market Lab to become the default infrastructure for women in real estate, not just one of the options,” Carmody said.

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California lawmakers are weighing yet another tool in the housing toolbox to jumpstart high-rise construction in the state’s largest downtown areas.

Assembly Bill 2074, dubbed the Downtown Revitalization Act, would ease approvals and offer state-backed, low-interest financing near major transit hubs. The bill calls for seeding a loan fund with $500 million.

The bill is moving through the committee gauntlet after passing unanimously in the Housing and Community Development Committee last week.

California lawmakers have passed a slew of bills in recent years to cut red tape and build more housing in a state with long-running affordability problems. Their work has served as one model for other states seeking to solve their own housing affordability challenges.

Gov. Gavin Newsom signed a landmark bill last year to override local zoning authority and allow more density near public transit.

What the bill would do

It would require California’s seven largest and transit-rich cities — Los Angeles, San Diego, San Jose, San Francisco, Sacramento, Oakland and Long Beach — to map regional transit districts. These districts would cover areas in and around their central business areas.

Within the transit districts, the bill sets a baseline building height of 150 feet. At least one-quarter of the land would have to allow towers of 450 feet or more. Projects that meet the bill’s labor and affordability standards would qualify for streamlined approvals. The goal is to cut local permitting delays that can stall dense housing for years.

Authored by Assemblymember Matt Haney, a San Francisco Democrat, the measure is sponsored by California YIMBY and the State Building and Construction Trades Council of California. Haney framed the bill as both a housing and economic development measure. He said it targets urban cores still reeling from the pandemic-era shift to remote work.

“I’ve spoken with city leaders across California and the message is clear: our downtowns are still struggling and need new energy,” Haney said in a statement. “AB 2074 makes that possible by building dense housing where it’s needed most, while creating good-paying jobs in the process.”

A central feature is a Downtown Revitalization Loan Fund to be administered by the California Housing Finance Agency. The revolving fund would provide low-interest loans to qualifying high-rise residential and mixed-use projects that meet state-defined labor and affordability benchmarks. The loans would be repaid at completion to support additional projects.

Closing a funding gap

Proponents say the fund is designed to close persistent capital stack gaps that often make tall buildings in California’s expensive markets financially unfeasible compared with mid-rise construction.

Brian Hanlon, president and CEO of California YIMBY, said the bill is intended to tackle the core structural barriers to building tall in job-rich downtowns.

“For too long, the economics of building high-rise housing in California’s downtowns simply haven’t worked. AB 2074 changes that,” Hanlon said, arguing that it’s “time to build up.”

Supporters say more predictable heights and faster approvals would give developers and lenders more certainty. They say union labor and affordability provisions would ensure projects deliver long-term public benefits.

The bill declares that its standards address a statewide concern and would apply to all eligible cities. That includes charter cities that typically wield broad control over local zoning. California YIMBY describes AB 2074 as part of a wider 2026 housing package. The group says the package aims to revive downtowns and lower construction costs through state intervention in both permitting and finance.

California budget woes

For Haney and the bill’s supporters, seeding the fund is the biggest challenge. California faces recurring budget shortfalls because tax revenues from high-income earners swing sharply. Analysts also blame rising ongoing spending and new cost pressures from federal cuts.

The Legislative Analyst’s Office projected an $18 billion budget deficit for 2026-27 in a report released last November. It warned that California could face large ongoing gaps without structural fixes. But Newsom’s budget, released in January, showed what he described as a manageable deficit of $2.9 billion.

California YIMBY officials note that the $500 million would turn into a revenue-neutral fund as developers pay back the loans with interest.

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Mortgage rates and inflation are expected to remain elevated through 2026 as pressures tied to geopolitical tensions keep Federal Reserve rate cuts on hold. That’s according to Mike Fratantoni, chief economist and senior vice president of research and business development at the Mortgage Bankers Association (MBA).

Speaking during an economic outlook session at the MBA’s National Advocacy Conference on Tuesday, Fratantoni said the U.S. economy is marked by “uncertainty along so many dimensions,” with a murky job market and renewed inflation risks shaping the outlook for interest rates and housing.

The labor market, he said, is “neither terribly strong nor terribly weak.” Monthly job growth averaged about 15,000 in 2025 and has risen to roughly 70,000 so far in 2026, although the data remains volatile and subject to revision. The unemployment rate is hovering around 4.3% as of March, with signs of softening.

At the same time, rising oil prices linked to global conflict are pushing inflation higher than previously expected. As a result, Fratantoni said that contrary to MBA’s original forecast of 3.2% inflation, he sees a figure closer to 4% by the end of 2026.

“That’s an inflation event for the United States,” Fratantoni said about the war in Iran, adding that rates could move higher if geopolitical risks intensify.

The MBA also removed expectations for any Federal Reserve rate cuts this year. The federal funds rate is expected to remain in its current range of roughly 3.5% to 3.75%, with little movement anticipated into 2027. Longer-term rates are also expected to hold steady.

On housing supply, Fratantoni pointed to declining effective rents in many markets, especially across the Sun Belt. Slowing population growth, lower fertility rates and tighter immigration are all curbing demand just as supply has increased, he said.

Affordability, however, remains strained. Wage growth is gradually improving affordability, but recent borrowers are more vulnerable and the market is risky, Fratantoni said.

Almost 17% of 2024 vintage Federal Housing Administration (FHA) loans and more than 25% of U.S. Department of Veterans Affairs (VA) loans are now underwater, Fratantoni added, compared with very strong equity positions for borrowers who bought in earlier years.

Delinquencies tell a similar split story. Conventional loan delinquencies are “about as low as they’ve ever been,” he said, while FHA delinquencies have climbed to about 11.5%, driven by changes to loss mitigation and genuine credit deterioration.

When asked at the end of his session whether the war, inflation or debt would have a bigger impact on mortgage rates, Fratantoni answered that the war would have a great impact over the next six months.

“It’s all about oil prices,” he said. “As for inflation, what we showed over the past five years is that this economy is so much more susceptible to inflation than anybody would have guessed. … Think back to the Silicon Valley Bank experience in 2023. People have re-remembered that inflation can jump quickly, and again, that immediately shows up in longer-term yields.”

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Brenda Tracy, who reported sexual harassment against former Michigan State University head football coach Mel Tucker, is suing United Wholesale Mortgage (UWM) and CEO Mat Ishbia.

Tracy claims the mortgage lender and its chief executive inserted themselves into a matter that was “none of their business.” UWM called the lawsuit fabricated, stating it “is about money and nothing more.”

According to the complaint filed March 23 in Oakland County, Michigan, Ishbia and UWM treated Tracy not as a “person whose privacy mattered, but as a problem to be managed once her complaint threatened Ishbia’s interest and investments tied to Tucker, the football program and the Michigan State University brand.” 

A UWM spokesperson vehemently denied the allegations.

“Ms. Tracy first sued Coach Tucker, but that case was thrown out of court. She then sued Michigan State, and the University has since filed a motion to dismiss that case as well,” the spokesperson told HousingWire. “Following those failures, her lawyers have filed a new complaint now naming Mat and UWM in an attempt to capitalize on the same unfounded allegations.”

The spokesperson noted the claims rely solely on communications from David Zacks, UWM’s former general counsel who passed away last year.

“That said, David Zacks and Mel Tucker were longtime friends, and their communications were personal in nature and had nothing to do with Mat Ishbia or UWM,” they said.

Tracy said in a social media post that “lawsuits are not just about money. They’re also about injunctive relief, which is what I am seeking.”

Tucker signed a 10-year, $95 million contract as Michigan State’s head football coach in November 2021 — which included $14 million directly contributed by Ishbia, the lawsuit claims. In December 2022, Tracy reported to the university’s Office of Institutional Equity (OIE) that Tucker sexually harassed her in April of that year. MSU terminated Tucker in October 2023 following an investigation in which Tracy participated.

The lawsuit alleges that during the investigation, Tucker’s attorney requested communications with Tracy’s office also be sent to Zacks at his UWM email address.

“Ishbia and UWM had a direct corporate stake in communications sent to or through Zacks because the emails and related electronic records belonged to UWM and were created, received, maintained, or routed through UWM systems while Zacks was serving as UWM’s general counsel,” the complaint states.

The lawsuit alleges Ishbia was interested in the case because he was MSU’s largest single donor at the time. It claims Zacks had no reason to be included in communications other than “keeping Ishbia in the loop,” noting Zacks was never identified on the record as Tucker’s attorney or adviser.

Disclosing confidential OIE information to people outside MSU violates statutory duty and constitutes unlawful action, according to the lawsuit. It alleges the information was used for reputational management and media purposes.

“Between December 2022 and January 2024, OIE staff transmitted emails or attachments concerning plaintiff’s investigation to one or more @uwm.com addresses,” the lawsuit states.

Tracy’s lawsuit includes counts of tortious interference with business expectancy, civil conspiracy, public disclosure of private facts and intentional infliction of emotional distress. The amount in controversy exceeds $25,000.

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Retirement planning has long required navigating many financial risks — from outliving savings to market volatility and rising health care costs.

But new research from the Center for Retirement Research at Boston College finds that uncertainty surrounding federal policy has sharply intensified these challenges since early 2025.

A recent survey of retirees and near-retirees shows growing unease about the future. Concerns about financial security have increased significantly, while confidence in government policy has declined.

Many older Americans are responding defensively by delaying retirement, boosting emergency savings and shifting toward more conservative investments. The survey data builds on earlier findings by examining whether financial advisers can help clients manage that uncertainty. The answer appears complicated.

Policy risk weighs on households

Researchers define “policy risk” not as policy changes themselves, but as unpredictability about future decisions.

Even the possibility of change — such as during a closely contested election — can force households to prepare for multiple outcomes.

Research shows that such uncertainty tends to harm the broader economy — dampening activity, increasing market volatility and reducing investment. At the household level, the authors of the brief said it raises anxiety and can prompt costly precautionary behavior.

For older Americans, the most pressing concerns center on Social Security, Medicare and federal debt. Questions about how policymakers will address projected funding shortfalls — through tax increases, benefit cuts or both — loom large.

Survey data shows these concerns are not abstract. Many respondents reported increased media consumption about economic and policy developments, alongside a significant rise in financial anxiety.

Investor reaction, reverse mortgage perception

Older investors are not standing still.

The survey found that 21% of those still working have postponed retirement. Meanwhile, 28% have increased their emergency savings and one-third have shifted toward more conservative investments.

These actions reflect an effort to guard against uncertainty, although research suggests such defensive moves can carry their own costs.

Overall, the findings suggest that older Americans are keenly aware of increased policy uncertainty and are taking defensive responses, researchers said.

Some financial advisers have argued that part of the solution lies in better integrating housing wealth into retirement planning.

Ryan Ponsford, a veteran financial adviser, said during a February webinar that isolated negative experiences for potential reverse mortgage clients have impeded the process.

“You think your job is hard because you have a product that people have a bad impression of, believe they’ve had a bad experience or have heard bad things about — most of which is untrue,” he said. “But a lot of them have had a bad experience with people in the industry.”

He estimated that roughly 33 million baby boomers who own homes — excluding the wealthiest households — could represent a potential market, with those holding $500,000 to $3 million in assets forming a “sweet spot.”

Speaking last year at the National Reverse Mortgage Lenders Association’s annual meeting, Ponsford shared similar sentiments and pointed to industry barriers that include a lack of education, reputational concerns, and the perception that reverse mortgages are a “loan of last resort,” even as millions of homeowners could potentially benefit.

Jonathan Delozier reported and wrote this article with drafting assistance from HousingWire Automation, an editorial tool that helps transform announcements and industry data into HousingWire-style news coverage.

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Bob Broeksmit, president and CEO of the Mortgage Bankers Association (MBA), called on industry members to intensify advocacy efforts on Capitol Hill, outlining a series of next steps as lawmakers weigh key housing and financial policy changes.

Speaking at the MBA‘s National Advocacy Conference on Tuesday in Washington, D.C., Broeksmit said that while this year’s conference involves less uncertainty than last year’s — which was marked by “DOGE cuts,” “Liberation Day” tariffs and a possible global trade war — the association’s advocacy work is far from finished.

Broeksmit reminded the audience about the trade group’s advocacy wins in 2025 and urged members to press Congress to address provisions in the 21st Century ROAD to Housing Act.

“The Senate‘s package, taken as a whole, has the potential to meaningfully improve housing supplies and affordability,” Broeksmit said. “It is rare to see unanimous bipartisan agreement on major legislation, an indication that elected officials clearly recognize voter concerns about rising housing costs and limited availability.”

But Broeksmit added that MBA has “several concerns that must be addressed.” This includes a “drafting error related to Federal Housing Administration (FHA) multifamily loan limits, which would have the effect of lowering them [and] second, a single-family housing investor ban that would ironically restrict the flow of capital into rental housing.”

Broeksmit said the MBA, due to its concerns regarding the potential ban on institutional investors, met with Treasury Secretary Scott Bessent in February and addressed its concerns. Bessent reportedly told Broeksmit that the proposal to ban certain institutional investors in the single-family housing market gained significant traction after polling showed it resonated strongly with the public.

That signal, Broeksmit told his audience, prompted the MBA to assemble a coalition to mitigate potential unintended consequences, particularly for multifamily housing.

“The last thing that we have a real issue with on the ROAD to Housing (Act) is a proposal to divert funds from the FHA Mutual Mortgage Insurance Fund to support foreclosure counseling, not only for FHA borrowers, but for U.S. Department of Veterans Affairs (VA) borrowers and U.S. Department of Agriculture (USDA) borrowers, something that should occur through the normal appropriations process,” Broeksmit said.

An overhaul to credit reporting requirements remains a central priority for the MBA. Broeksmit said the group will continue pushing policymakers to eliminate the tri-merge credit report mandate, arguing that it reduces competition and increases borrowing costs.

“Our goal is to fix the underlying problem, which is a lack of competition in a safe, data-driven manner,” he said, adding that members should advocate for “timely action” from regulators and lawmakers.

On bank capital standards, the MBA plans to submit formal comments on the latest Basel III proposal released by federal regulators, while continuing to push for reforms that better reflect mortgage risk and expand liquidity. Broeksmit said changes to capital treatment for mortgage servicing rights and warehouse lending would “benefit the entire market.”

The group is also engaging with federal agencies on regulatory reforms aimed at easing compliance burdens and expanding access to credit. Broeksmit said recent discussions between MBA’s Residential/Single Family Board of Governors (RESBOG) and the Consumer Financial Protection Bureau (CFPB) signaled openness to adjusting mortgage rules to better support lenders of all sizes.

“We need you to carry the message to Capitol Hill that MBA will work with the White House, federal agencies and industry stakeholders to ensure these reforms are effective, practical and beneficial,” he said.

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Veterans United Home Loans, owned by Mortgage Research Center, filed a motion to dismiss a class-action lawsuit that accuses the lender of falsely presenting itself as affiliated with the federal government and steering borrowers toward more costly loans.

The lender argues that the plaintiffs failed to present “any concrete and particularized injury” and to state a claim. Attorneys for the plaintiffs declined to comment.

The original complaint alleges the private, for-profit corporation misled homebuyers into believing it is connected to the U.S. Department of Veterans Affairs (VA). It claims that multiple real estate agents and loan officers say they routinely lose business because borrowers believe they must use Veterans United since it’s part of the VA.

The company was founded and is run by three individuals with no military service records, the original complaint states.

In its motion to dismiss, Veterans United includes two screenshots of its website — one attached to the original complaint and another to the motion itself — demonstrating that its site features a disclaimer stating it is not a federal agency. Notably, the disclaimer in the screenshot attached to the original complaint appears smaller.

The motion to dismiss was filed Monday in the U.S. District Court for the Western District of Missouri by Veterans United Home Loans, Realty Search Solutions (dba Veterans United Realty) and Mortgage Research Center.

The plaintiffs — homeowners who obtained loans from Veterans United between 2022 and 2025 — allege violations of the Real Estate Settlement Procedures Act (RESPA).

They say Veterans United distributes leads to preferred agents who, upon closing a home sale, pay the company roughly 35% of their commission (usually part of 3% of the transaction fee). Agents who do not refer loans back to Veterans United allegedly stop receiving leads. The plaintiffs claim Veterans United loans are more costly and carry higher interest rates compared to what homebuyers could obtain with other lenders

In its motion, Veterans United argued the RESPA rule exempts cooperative brokerage and referral arrangements. The lender claims the plaintiffs failed to plead the statutory requirements for liability — including any referral, thing of value or charge paid by them — and that some plaintiffs extrapolated the one-year limitations period.

The lender also argues the plaintiffs made a copy-and-paste error from other pending cases by claiming quota violations without alleging any actual referral quotas exist.

Additionally, Veterans United pushed back against a claim regarding violations of the Missouri Merchandising Practices Act, noting the transactions occurred outside the state. Regarding a common-law unjust enrichment claim, Veterans United said the plaintiffs do not allege they conferred any benefit on the defendants.

Veterans United argues the plaintiffs seek recovery for conduct covered by a contract and that the claims are based entirely on deficient RESPA allegations. Additionally, the motion notes the plaintiffs sued the wrong entity — Realty Search Solutions instead of Realty Search Solutions Network — and incorrectly labeled Veterans United Realty a “shell company” when the correct firm actually employs hundreds of licensed agents.

Chad Moller, corporate communications manager at Veterans United, told HousingWire in a statement that this “meritless lawsuit gets next to nothing right. It’s filled with nonsensical allegations and cut-and-paste complaints from lawsuits filed against other mortgage lenders — none of which hold up to common sense, let alone legal scrutiny.

“To be crystal clear, Veterans United Home Loans and Veterans United Realty have never held themselves out as the VA or any other government agency. Never.”

Attorneys representing the plaintiffs said they filed claims after speaking with roughly half a dozen real estate agents and loan officers across the country who have firsthand experience with VA home loans.

“First, we believe Veterans United has engaged in blatantly illegal practices that have harmed homebuyers through predatory loan practices,” Steve W. Berman, managing partner and co-founder of Hagens Berman, said in a statement when filing the lawsuit. “Second, Veterans United has sought to deceive our nation’s military servicemembers by masquerading as affiliated with the U.S. Veterans Administration.”

The plaintiffs have until the end of April to respond to the motion to dismiss but the deadline can be extended upon request. The complaint states that the total amount in controversy exceeds $5 million.

Hagens Berman also represents clients in a case involving Rocket Companies, following settlements tied to real estate brokerage commissions that totaled more than $1 billion.

This post was originally published on here. 

Big banks JPMorgan Chase and Wells Fargo saw mortgage volumes decrease more than expected in the first quarter of the year despite a regulatory push to make them more active in the space.

JPMorgan Chase’s origination volume hit $13.7 billion in the first quarter, down 14% from the prior quarter and up 46% from the same period last year. Retail channels drove most of the production, accounting for 63.5% of the total. The bank’s home lending revenues reached $1.23 billion in the first quarter, up 2% year over year.

Similarly, Wells Fargo originated $6.3 billion from January to March, down 16% from the prior quarter but up 43% compared to the same period last year. Total home loan revenue declined 9% year over year to $787 million, according to filings with the Securities and Exchange Commission (SEC).

Mortgage volumes fell by an average of about 15% quarter over quarter at the banks. This came in below the Mortgage Bankers Association‘s estimate of a 6% decline, according to Keefe, Bruyette and Woods (KBW) analysts. But margins increased modestly, they said. 

“Net/net, we’d characterize the quarter as largely in line. While the volumes were a bit light, gain-on-sale (margins) was probably slightly higher than expected,” the KBW analysts said. 

In the servicing business, third-party mortgages serviced by Wells Fargo totaled $386.6 billion, down 3% quarter over quarter as the bank continues to reduce exposure to the business. At JPMorgan Chase, they were down 1% in the same period to $656.4 billion.

Overall, Wells Fargo delivered $5.2 billion in net income, compared to $4.8 billion in the same quarter last year. Chairman and CEO Charlie Scharf told analysts that despite volatile markets, the economy remains resilient.

“Upper-income consumers continue to benefit from elevated equity prices, home equity and cash buffers accumulated earlier in the cycle, allowing discretionary spending to remain firm,” Scharf said. “By contrast, lower-income households are more exposed to higher interest rates and energy prices. Financial markets have absorbed these cross-currents with resilience, but we expect continued volatility driven by geopolitical headlines and outcomes as well as the unfolding impact of higher commodities prices.”

Scharf called the new capital proposals for banks a “constructive step.” He noted that if the proposals remain as written, the bank’s risk-weighted assets could decrease by approximately 7% based on its current balance-sheet composition.

In mid-March, federal bank regulators introduced proposals to overhaul capital rules, impacting how depositories treat mortgage assets. The package included revisions to the Basel III framework for large internationally active banks, changes to the Global Systemically Important Bank surcharge and updates to the U.S. standardized approach. Regulators previously abandoned a broader Basel III proposal introduced in 2023.  

Meanwhile, JPMorgan posted $16.5 billion in net income, compared to $14.6 billion in the same period last year. Chairman and CEO Jamie Dimon attributed U.S. economic resilience to tailwinds such as increased fiscal stimulus, deregulation, AI-driven capital investment and the Federal Reserve‘s asset purchases.

He cited geopolitical tensions, wars, energy price volatility, trade uncertainty, large global fiscal deficits and elevated asset prices as primary risks. And in addressing the new regulatory proposals, Dimon said they will force the bank to hold onto $20 billion more capital “for no good reason.”

“Every company in the world has operational risk, and they artificially create risk-weighted assets which do not exist, and this locks up a lot of capital liquidity for eternity for no good reason,” he said.

This post was originally published on here. 

Compass is rapidly increasing its residential real estate market share in several large U.S. metros, raising questions about market dominance, double-ending and industry rules, according to a report from the Consumer Policy Center (CPC) released Tuesday

The study, “Compass Expansion: New Data on Market Share and Double-Ending,” analyzed 5,000 recent home sales — 1,000 each in Boston, Washington, D.C., Chicago, Austin and San Diego — and found that Compass controls between 30% and 40% of unit sales in those markets, with even higher shares when measured by dollar volume.

“In four of the five cities, Compass’s share of unit sales is at least four times larger than that of its main competitors and 2.5 times larger in the fifth market,” CPC senior fellow Stephen Brobeck, the report’s author, said in the announcement.

Brobeck said Compass’s share “is not only very large but also much larger than that of major competitors,” adding that the company is becoming “so dominant in some local markets that consumers will feel both pressure and attraction to list and purchase properties through Compass agents.” 

After its acquisition of Anywhere, which closed earlier this year, the CPC’s data shows that Compass has 32.4% market share in Boston, 39.5% in Washington, D.C., 35.0% in Chicago, 29.7% in San Diego and 29.7% in Austin. 

The report links Compass’s growth to its emphasis on private listings and elevated levels of double-ending, where one brokerage represents both sides of a transaction, often through one or two agents at the same firm.

In the first private listing phase of Compass’s three-phased marketing strategy, the CPC said, consumers can only access those private exclusive listings through a Compass agent. That closed access “appears key” to the company’s double-ending rates, the report found. In Washington, D.C., the double-ending rate for Compass prior to its acquisition of Anywhere exceeded 40%, according to CPC.

Compass says report relies on a partial dataset

In an emailed statement, a Compass spokesperson told HousingWire that these statistics “do not reflect the full scope of [Compass’s] business and appear to rely on a partial dataset.”

“Our real estate professionals are expected to act in their clients’ best interests, regardless of which brokerage or agent has written an offer on the property,” the spokesperson added. 

The company has previously stated that the majority of its private exclusive listings that sell off-MLS are co-brokered with a non-Compass agent. The firm has also continued to maintain that all buyers and real estate agents can access Compass’s private exclusive listings by contacting a Compass agent or visiting a brokerage office. 

The report also claims that Compass has a new policy that 10% of the commission an agent receives will be given as a referral fee to another Compass agent if they are the source of the referral, which the CPC believes will result in an increase in double-ended deals. 

Compass responds

In response to this, a Compass spokesperson told HousingWire that “buyer inquiries from listings on Compass.com have always been sent directly to the Compass listing agent, ensuring the real estate professional who earned the seller’s trust and knows the home best is the first to receive the opportunity.”

“In February, we announced a ‘Listing Agent Lead and Referral Program’ that provides Compass agents with added flexibility. They can handle buyer inquiries themselves or refer them to a vetted Compass buyer’s agent and earn a 10% referral fee if the transaction closes within 24 months,” the spokesperson wrote in an email. “This creates a new way for Compass listing agents to generate passive income while maintaining full control over their business.”

Dissecting Compass’s expansion strategy

The report also examines Compass’ expansion strategy, finding that it consists of a combination of acquisitions, partnerships, double-ending, which the report claims it will increase by steering more buyers to Compass agents through its partnership with Rocket-Redfin, and its expansion into ancillary services like mortgage and title. 

Other aspects of Compass’s growth strategy highlighted in the report include acquisitions and partnerships. Examples of this include Compass’s recent acquisition of Anywhere and its partnership with Rocket-Redfin to pre-market the firm’s coming soon listings, while also expanding access to mortgage services for agents and consumers through Rocket’s Preferred Pricing Program. 

“The dream of Compass Chairman and CEO Robert Redkin and other Compass leaders appears to be domination of the most profitable local markets through overwhelming numbers of agents and listings that attract and pressure consumers to list and purchase properties through Compass agents,” the report states. 

These strategic growth moves by Compass have not come without warning, as Compass founder and CEO Robert Reffkin, who now also helms Compass International Holdings (CIH) the parent company that oversees Compass, Anywhere and @properties Christie’s International Real Estate, has touted his goal of holding 30% market share in 30 markets. 

Compass’s growth impact on industry

While the report does raise concerns over how the firm’s market share will impact consumers, it also looks at how the company’s growth may impact the industry. As Compass has grown, it has “challenged, worked around or flouted traditional industry rules,” the CPC report said, pressuring the broader industry — including the National Association of Realtors (NAR), large brokerages and portals such as Zillow — to change policies and practices.

“Instead of inadequate industry rules, increasingly there are no rules effectively governing industry conduct,” Brobeck said in the release.

The report suggests that shifting norms around pocket listings, off-MLS marketing and private listing networks are reshaping how inventory is shared, how buyers find homes and how listing exposure is managed. For agents and teams, this could affect lead flow, referral dynamics and the value of MLS participation in markets where one brokerage controls a large share of listings.

As a result, moving forward, the CPC said Compass’s expansion raises risks for both competitors and consumers. As Compass’s presence grows in local markets, sellers may increasingly gravitate to its brand and distribution, including listings that omit information about days on market and price changes, the report said. Additionally, buyers may feel pressure to work with Compass agents to access private listings.

The report also forecasts that Compass will likely pursue stronger national branding through broad advertising campaigns, similar to recent Super Bowl ads by Rocket and heavy TV spending by large insurance carriers.

But while CPC does see an expansive runway for Compass, the report also identified several challenges that could complicate the firm’s growth trajectory, including the cost and integration challenges of acquisitions, potentially greater cooperation and coordination among rival brokerages, public and private antitrust actions related to alleged market power or exclusionary practices and consumer skepticism over conflicts of interest, transparency and data access. 

This article was written by Brooklee Han and generated with the assistance of HousingWire Automation. It was reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.

This post was originally published on here. 

SERHANT. is expanding into California, opening across Los Angeles, San Diego, Orange County, San Francisco and Tahoe with agents who closed more than $2 billion in sales over the past 12 months, the brokerage announced Tuesday.

The firm said this move marks its largest market launch by sales volume. The company will base its California operations in Beverly Hills.

The California launch follows SERHANT.’s entry into Massachusetts in January and brings the firm’s footprint to 16 states and Washington, D.C. since it began expanding outside New York in 2023. The company now operates in Arizona, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, New Jersey, Nevada, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Virginia and Washington, D.C., with more than 2,000 agents and 200 full-time team members.

SERHANT. said it focuses on building around local principals rather than acquiring existing brokerages, emphasizing an “agent-first” model.

“The demand for SERHANT. in California made this move a natural next step,” Ryan Serhant, the company’s founder and CEO, said in the announcement. “Agents today want to stand out, build their brand and plug into a technology platform that drives real growth. That is what we have created. We’re not expanding for the sake of it, we’re expanding because the market is demanding it.”

The firm’s California operations will be led by managing director and principal broker Ezra Leyton, based out of Beverly Hills. Leyton is a 23-year industry veteran with a background in luxury residential and commercial real estate, capital markets and alternative investments. He previously served as executive director and COO of MARQUIS Commercial Properties and executive director, head of North America operations for MARQUIS Capital Management, overseeing multi-billion-dollar portfolios. Over his career, Leyton has sold more than $2.5 billion in residential and commercial properties, recruited and trained more than 300 agents and brokers, and advised institutional clients including Credit Suisse, Pretium Partners, Angelo Gordon, RBS, UBS and Goldman Sachs.

“There is only one brokerage that embodies an experienced-based approach to real estate, which is SERHANT. Our vision and goals align in bringing the very best in residential and commercial real estate investments to our clients across the globe,” Leyton said in a statement.

In Los Angeles, SERHANT. is recruiting a roster of high-volume agents with strong media and luxury credentials. The agents include Ben Belack, who is joining from The Agency and will serve as executive vice president, California; Courtney Poulos, the founder of ACME Real Estate, is joining as a founding member and broker associate and coming to SERHANT. with more than 21 years of experience in the industry; and Patrick Michael, a luxury focused team leader, who is joining as a broker associate and founding member.

In Orange County, SERHANT. is welcoming former Compass-agent and leader of The Annie Clougherty Team, Annie Clougherty, who brings more than 20 years of experience and nearly $1 billion in career sales. Other agents joining the Orange County operation include Todd Davis, Jorge Anzaldi and Greyson Benson who are also joining SERHANT. from Compass under Team Todd; and Brooks Bailey, a former eXp Realty agent who is joining as a founding member.

Malena Boetel and Amber Welch, who are based in San Diego, are also joining SERHANT. from eXp. They are joining as founding members and co-leaders of Exclusive Group. Also based out of San Diego are Manuel Sanchez, who is coming from The Agency, Robyn Flint, who is making the move from The Real Brokerage and is the leader of Dwell Group.

In the San Francisco Bay area, SERHANT. is welcoming Lisa Smith the leader of Smith & Co. from Engel & Völkers; Milana Ostroy, who serves as president of the Women’s Council of Realtors and has over 25 years of experience; Viviana Cherman, a Pleasanton-based agent, who specializing in the Tri-Valley; and Amie Quirarte, who is coming from Chase International Real Estate and join as a founding member and founder of Q Group Tahoe, a boutique team focused on luxury lakefront and high-value residential sales across North Lake Tahoe in California and Nevada.

In 2025, SERHANT. closed $7.13 billion in sales volume, good enough for the N0. 22 rank in the nation in the 2026 RealTrends Verified Rankings.

This article was written by Brooklee Han and generated with the assistance of HousingWire Automation. It was reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.

This post was originally published on here. 

There is a special flavor of exhaustion that only independent contractors know. It is not the regular tired that comes from a long day. It is the deep-space fatigue of being your own boss, HR department, marketing team, IT help desk, billing office, custodian, and emotional support animal. You do not clock out. Then layer on top of that being “on” for hours and hours every day as you shepherd people through one of the most stressful transactions of their lives. You just eventually pass out with your laptop still open and your phone sitting on your chest like a needy toddler.

So let’s talk about self-care and boundaries in a way that does not require lighting sage or screaming affirmations into a mirror. Because for people who work for themselves, self-care is not a luxury. It is plumbing. It keeps the whole system from exploding.

And, unfortunately, it is also harder for you than for almost anyone else.

Why self-care is harder when you work for yourself

Your job demands and resources are wildly misaligned

Employees complain about stress, and that is fair. But independent contractors play on a different difficulty setting. Psychologists have this thing called the Job Demands-Resources model, which is a fancy way of saying burnout happens when the seesaw tips too far in the wrong direction. Who knew it had a name… not me. Now we all do.

Traditional employment: High demands, but also built-in resources. Paid time off. Sick days. A manager. Coworkers to vent to. An IT person who shows up when the printer starts making sounds like a dying goose.

Your world: High demands on top of demands. Emotional labor. Sales calls. Client crises. Financial uncertainty. And your only built-in resource is… you. And coffee. And possibly a second, emergency coffee. With a whiskey neat screaming, “Put me in coach!”

Everything in the structure of independent work pushes you toward burnout unless you actively build rails to keep yourself upright. That imbalance is not a moral failing. It is math.

Your boundaries are basically a suggestion unless you enforce them

Employees get boundaries baked into the job. They have work hours. They have an office. They have a boss who might send a message at 9 p.m., but at least there is the illusion that this is unusual.

You, however, have none of that. What you have is a phone that never sleeps with three backup batteries and a culture that constantly whispers, “If you are not available 24 hours a day, you clearly do not care about your business.”

Independent contractors live in a constant tug-of-war between wanting to be responsive and wanting to lie on the floor in silence for an hour. And since no one protects your time except you, you end up being the worst boss you have ever had. Longer hours, fewer breaks, and a general sense of “I’ll rest when everything is done,” which is adorable because everything is never done.

Your inner manager is often a tyrant with a motivational poster problem

Employees get supervisors. You get self-talk. And for many people who work for themselves, that inner voice is less like a supportive leader and more like a judgmental gym teacher from the 80s yelling, “You could be doing more.”

But here is the catch. All the research on self-compassion shows that people who treat themselves with kindness under stress are more productive, more resilient, and more likely to follow through on their goals. In other words, you would get more done if you stopped talking to yourself like a disappointed parent at a middle school talent show. (One note here, my middle schooler crushes talent shows… just in case she reads this someday)

This mix of structural pressure, fuzzy boundaries, and harsh inner dialogue is a perfect recipe for burnout. Which is why self-care is not optional. It is survival.

Self-care that works in the actual real-life messiness of independent work

Let’s skip the Pinterest version of self-care. No bubble baths unless that is your thing. No “just breathe more” nonsense. Below are moves that real independent contractors can actually implement without quitting their jobs to go herd goats in Iceland.

Put your work hours in writing, even if it feels silly

One of the biggest predictors of burnout is not how many hours you work. It is the fact that you never truly stop working. When you work for yourself, the day has no edges. Your tasks sprawl into the evening, leak into your weekends, and occasionally slide into the moments when you should be sleeping but instead are Googling “how to invoice politely.”

Here is the fix. Write down your work hours. Not the hours you wish you worked. The hours you realistically plan to work. Then add a hard stop time every day, a weekly deep focus block, and a weekly no-work block where even your brain is not allowed to pretend to solve problems.

Will you break these rules sometimes? Sure. But structure is not about perfection. It is about giving your life an outline so your work has somewhere to live that is not inside your skull 24 hours a day.

Treat boundaries as a professional tool instead of a personal failing

People act like boundaries are personality traits. Like some people are naturally good at saying no, and the rest of us are defective golden retrievers who keep fetching the ball no matter how tired we are. Boundaries are a skill, not a temperament.

Here is the mindset shift: a boundary is not a wall to keep people out. It is a guardrail that keeps you from driving off a cliff.

Here is a conversation I have often:

Me: “When is the last time you took a day off?”
Agent: “A few months ago, we went to Hawaii.”
Me: “Did you have an email auto responder on, and did you change your voicemail?”
Agent: “Um… no.”
Me: “So you took the day off but didn’t tell anyone, then got annoyed when they messaged you, called them back anyway, and did it all again 45 minutes later…” Sound familiar?
Agent: “Well, when you put it that way, I haven’t taken a day off in years.”

So maybe try this:

“Fridays are the day I normally take off. Of course, I can jump in if something urgent pops up, but that’s the one day I try to put myself first, so I’m fresh and sharp for you the other six days of the week. If something truly cannot wait, just give me a heads up, and I’ll step in. Otherwise, I’ll hit the ground running Saturday.”

Notice how none of that apologizes for existing.

They will still call you on your day off. But now it sounds like, “Hi… SO sorry to call you on your day off, no rush…” And yes, you will probably still call them back because you’re wired that way. But the difference is you didn’t have to. That is the shift.

Build a tiny daily reset that keeps you human

You do not need a spiritual awakening. You need a reset button. Fifteen minutes. That is it. Two minutes of reading something grounding. Three minutes of quiet. Five minutes of journaling on one question: “What is weighing on me right now?” Five minutes choosing one action that would lighten that weight today.

It is not glamorous. It is maintenance.

For me, it is what I call my “clot walk.” I got a blood clot last year from sitting too much. My career literally tried to kill me (ok, that is a bit hyperbolic, but you get it), so now, a few times a day, I take a quick walk. Five minutes on a bad day, fifteen on a good one. A little outside time, a playlist, or a podcast… it works.

Stop trying to be an island with WiFi

Isolation is one of the most corrosive parts of self-employment. Humans need other humans who get it. Not motivational quotes. Not hustle memes. Real conversation.

So pick one: a weekly check-in with a colleague, a small peer group, or a therapist or coach who will call you out when you start working like a raccoon running on adrenaline and hope.

Independence does not mean isolation. You can be self-employed without being self-contained. Shoot, I do all three… so why pick one?

Create one selfish habit and defend it with unreasonable loyalty

There is nothing noble about sacrificing every minute of your life to your business. It does not make you more committed. It makes you unreliable because eventually you break.

Pick one selfish habit and make it non-negotiable. A daily walk without your phone. Seven to eight hours of sleep. Reading something that has zero business purpose. A workout you actually enjoy. A hobby that reminds you that you are not just a productivity appliance.

One habit. Defended aggressively.

Mine is 20 minutes of reading a day. Somehow, I still feel guilty when I sit down to do it, which is ridiculous because it makes me better at running companies, writing, and everything else I do. It is literally part of the job.

The quiet promise beneath all this

You are the engine of your business. That is the gift and the curse. If the engine breaks, everything stops.

Self-care is not softness. It is a strategy. It is the only insurance policy that actually works. It is the decision to stay human inside a career that can turn you into a machine if you are not careful.

You do not need to overhaul your entire life. You need one boundary. One habit. One moment of structure. One conversation you have been avoiding.

The goal is not perfection. The goal is still liking yourself a year from now.

And that starts with one small step that protects the human doing all the work.

Keith Robinson, Co-CEO for NextHome, Inc. and co-host of the Real Estate Insiders Unfiltered podcast.

This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners. To contact the editor responsible for this piece: tracey@hwmedia.com

This post was originally published on here. 

The National Association of Realtors (NAR) has notched another favorable legal outcome.

On Monday, Florida-based U.S. District Court Judge William Dimitrouleas dismissed NAR, as well as 11 Florida associations/MLSs from the lawsuit on the recommendation of Magistrate Judge William Matthewman.

In early March, Judge Dimitrouleas adopted another report by the magistrate judge dismissing Connecticut Association of Realtors (CT Realtors) and Connecticut-based Smart MLS, as well as Arizona-based West and Southeast Realtors of the Valley (WeSERV) from the lawsuit. 

The parties have been dismissed from the suit without prejudice meaning that the plaintiff Jorge Zea could refile his lawsuit. This ruling comes after Zea failed to file any objections to Magistrate Judge Matthewman’s report, which was filed in late March. 

The associations dismissed from the lawsuit are: Beaches MLS; Broward, Palm Beaches & St. Lucie Realtors; Miami Realtors; Orlando Regional Realtor Association; Florida Gulf Coast MLS; Stellar MLS; Space Coast MLS and Space Coast Association of Realtors; RealMLS; Northeast Florida Association of Realtors and Central Panhandle Association of Realtors.

Lawsuit claims a coordinate scheme

Filed in August, the lawsuit claims that the defendants engaged in a “coordinated scheme” to restrict consumer choice and maintain elevated prices, harming his brokerage model.

Zea runs www.snapflatfee.com, a brokerage that charges sellers a listing fee in exchange for limited services. Zea’s firm syndicates listings data to the MLS data feeds and forwards all buyer leads “regardless of their origin” directly to the seller.

According to Zea, buyer’s agents associated with the defendants steer clients away from properties that offer a reduced or nonexistent buyer’s agent commission. In his complaint, he argues that this steering is the result of the NAR and the other defendants not enforcing their own rules. 

The rules in question relate to the mandatory display of a listing broker’s contact information on the listing page in an IDX display; the commission lawsuit mandate for buyer agency agreements; and the prohibition of MLS platforms from allowing users to search or filter results by the name of the listing broker or agent, or by the amount of compensation offered.

By allegedly refusing to enforce these rules, Zea claims that the defendants have competitively disadvantaged his discount-brokerage business.

In his report, Magistrate Judge Matthewman called the complaint “deficiently pled” and recommended it be dismissed. Additionally, the judge highlighted several instances of the cases cited by Zea in his filings not existing and being the result of AI hallucinated law. Due to this, the magistrate judge recommended that the court admonish Zea for this. In his ruling Judge Dimitrouleas adopted this recommendation and admonished the plaintiff  “over his improper use of artificial intelligence and concomitant misrepresentations to the Court.” 

If Zea continues this behavior, the judge wrote that “severe sanctions may be imposed” against him.

In an emailed statement, an NAR spokesperson wrote that the trade organization is pleased with the court’s decision. 

“As we have previously stated, the National Association of Realtors fosters a fair, transparent, and competitive real estate marketplace,” the spokesperson wrote. “Steering is a prohibited practice under NAR policy and the Realtor Code of Ethics. The Code of Ethics is enforced by state and local Realtor associations, and the enforcement of MLS rules are handled by each MLS.”

This ruling comes just days after NAR announced that it has settled the homebuyer commission lawsuit claims by opting into the Tuccori lawsuit settlement.

This post was originally published on here. 

Mortgage activity remained resilient as purchase demand strengthened, despite interest rates climbing, according to Optimal Blue’s March 2026 Market Advantage report, released on Tuesday.

Total rate-lock volume increased 13% from February and 26% from a year earlier. Purchase activity drove the gains, with purchase lock volume rising 38% month over month and 20% year over year.

Refinance activity was mixed. Cash-out refinance volume rose 9% from February and 21% from March 2025, while rate-and-term refinance volume fell 34% month over month but remained more than 66% higher than a year ago. Refinance share accounted for 28% of total production in March, down from earlier in the year but still above 2025 levels.

“Purchase demand is carrying the market forward even as rates move higher,” said Mike Vough, senior vice president of corporate strategy at Optimal Blue. “That’s a strong sign for the spring market, especially with refinance share still at 28%, well above where it spent most of 2025.”

Mortgage rates increased across all major loan types during the month

Optimal Blue’s 30-year conforming fixed rate index rose 45 bps to 6.35%. Jumbo rates climbed 41 bps, U.S. Department of Veterans Affairs (VA) rates rose 44 bps and Federal Housing Administration (FHA) rates increased 21 bps.

The 10-year Treasury yield ended March at 4.30%, up 33 bps, while the spread between the 10-year Treasury and the 30-year mortgage rate widened to 205 bps.

On the secondary market side, execution trends shifted modestly. Best-efforts-to-mandatory spreads tightened for 30-year products, while agency cash window executions increased by 100 bps and securitization activity eased. Mortgage servicing rights (MSR) values rose 6 bps as higher rates dampened refinance expectations.

“In a higher-rate environment, lenders have to be more deliberate about how they execute and where they find value,” Vough said. “We saw some movement toward the cash window in March, but the more telling signal was MSRs moving higher as refinance expectations came down. That’s the market adjusting to a higher-rate backdrop.”

Purchase loans picked up

Purchase loans accounted for just over 71% of total volume in March, reflecting seasonal momentum as the spring homebuying season picked up. Conforming loans made up just over half of total volume, while FHA and non-conforming loans each represented 18%. VA loans accounted for 13% and USDA loans held steady at 1%.

Adjustable-rate mortgage (ARM) usage reached 12% of total production, marking the highest level since October 2022, Optimal Blue said.

Planned unit development (PUD) share, often seen as a proxy for new construction, rose to 28% of total volume, though it remained below year-ago levels.

Pricing trends showed some tightening in execution spreads. Best-efforts-to-mandatory spreads declined by 3 bps for conventional 30-year loans and 5 bps for government 30-year loans, while the spread for conforming 15-year loans increased by 7 bps. The share of loans sold at the highest price tier slipped to 79%, while loans in the lowest tier declined to 4%.

In loan delivery channels, agency mortgage-backed securities accounted for 41% of hedged executions, down slightly from the prior month. Meanwhile, sales through the agency cash window increased to 28%.

Borrower profiles remained relatively stable. First-time homebuyers represented 46% of conforming purchase locks and more than 70% of FHA volume, while VA first-time buyer share held near 46%. Debt-to-income ratios edged lower for FHA and VA loans and held steady for conforming loans, all below year-ago levels. The average purchase FICO score was 732.

Loan sizes remained elevated. The average loan amount dipped to just over $401,000 from $404,586 in February but stayed well above levels seen a year earlier. The average loan-to-value ratio was 81.32%. Regional differences persisted, with average loan amounts ranging from $888,536 in the San Francisco area to $306,283 in Indianapolis, and loan-to-value ratios spanning from 69.88% in the Bay Area to 89.47% in San Antonio.

This post was originally published on here. 

If you’re a Realtor or loan officer advising today’s homebuyer, your role has never been more important, or more misunderstood. Many buyers are sitting on the sidelines with the same belief: “I’m going to wait until interest rates come down.” On the surface, that sounds reasonable. But as professionals, it’s our responsibility to help clients understand that real estate decisions are not made on rates alone, they are made on the total market dynamic. When we fail to properly consult, we’re not protecting the client, we’re allowing them to make a partial decision based on incomplete information.

Right now, the market is offering something buyers haven’t had in years: LEVERAGE. Inventory has increased, sellers are more flexible, and concessions such as closing-cost assistance and rate buydowns are back on the table. Just a few years ago, buyers had lower rates, but they had almost no negotiating power. They were overpaying, competing in bidding wars, and waiving protections just to secure a home. Today, while rates are higher, the ability to negotiate price, terms, and incentives can often outweigh the difference in interest rate. This is where strong consultation matters, helping buyers understand that price, terms, and timing work together, not in isolation.

We also have to educate clients on what happens when they try to “time the market.” Why? Historically, when rates drop, demand increases. More buyers enter the market, competition rises, and prices follow. The same buyer waiting for a lower rate may end up paying more for the home and competing under pressure. On the other hand, a buyer who purchases today can often secure a better deal and refinance later if rates improve. As advisors, we must shift the conversation from “waiting for perfect” to “making the best move in the current market.”

Another critical factor that often gets overlooked is equity and opportunity cost. Every month a buyer waits is another month they are not building wealth through homeownership. Instead, they are continuing to rent, contributing to someone else’s equity rather than their own. Our job is to help them see beyond the interest rate and understand the long-term financial impact of their decisions. Homeownership is not just a purchase, it’s a wealth-building strategy, and time in the market often matters more than timing the market.

This is where the real skill of a Realtor or Loan Officer comes into play. As Ben Affleck famously said in the movie The Boiler Room, “There is no such thing as a no-sale call. A sale is made on every call you make. Either you sell the client some stock, or he sells you a reason he can’t buy it. Either way, a sale is made. The only question is, who’s gonna close? You or him?” In our world, that doesn’t mean pushing a client into a deal. It means having the clarity, confidence, and conviction to properly educate them, so they don’t unknowingly sell themselves on hesitation, fear, or incomplete information.

The truth is, there is no perfect market. There are only different market conditions, each with its own pros and cons. As professionals, we must guide our clients to see that today’s market offers real opportunities, options, and negotiating power that may not exist when interest rates eventually decline. The goal is not to “sell” them a house, it’s to help them make an informed, strategic decision that positions them to win both now and in the future.

Bobby Bryant is the CEO of homehub.
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners. To contact the editor responsible for this piece: zeb@hwmedia.com.

This post was originally published on here. 

Real estate valuations have customarily leaned heavily on historical data as one of the most important factors used to determine the appraised value of homes. This data includes comparable transactions and cap rates from prior years, along with historical real estate market data. However, there are a few areas that the past-anchored valuation system fails to build into the appraisals, leaving an appraisal gap that is becoming difficult to ignore in 2026. For lenders, this creates a problem when appraisals fall short of the initial estimated property value, or exceed it, and loans need to be restructured as a result. 

Major climate events

An important lesson that has been discovered more recently in the real estate industry is that not all properties in climate-impacted or high-volatility markets fit standard comps. This means that the insurance industry has had to make adjustments around forward-looking models that factor in major climate events like flooding and wildfires. As a result of recent climate incidents, many insurers have pulled out of high-risk markets, and transaction volume has dwindled. As a result, appraisers are left using fewer, older comps that are outdated and don’t reflect the current market conditions. This has all culminated in significant appraisal gaps in these areas. 

The AVM issue

The latest technology in real estate has pushed lenders towards Automated Valuation Models (AVMs) as a faster appraisal tool. However, AVMs are another factor contributing to the 2026 appraisal gap problem. While these models help lenders speed up their loan processing, the accuracy of AVMs is not flawless when the underlying data is sparse or outdated. To help combat this, regulations were put in place in October 2025, which require lenders to use quality control standards for AVMs being used in credit decisions.  

Fewer comparable properties 

For several years, mortgage rates have been elevated and constraining the market. This has meant that comp volume has been lower than pre-pandemic times. Less transaction data means less data for appraisals. It also means that the appraisal data is a little less accurate, increasing the likelihood of an appraisal gap. As rates slowly start coming down and the market shifts into a more active space, this is a natural solution to this problem. However, as with most things in real estate, the correction will take time. 

Geographic impact

According to the NAR, one of the defining factors impacting the market in 2026 is geographic shifts. Markets with newer homes are slowing down in areas that were once bustling, while other markets are strengthening. When it comes to a national appraisal model, there’s no way to account for all these local nuances, so geography has become one of the most important variables in the appraisal gap equation.  

While appraisal gaps are nothing new, 2026 is showing us a different version of them. Traditionally, appraisals would come in below the contract price in busy markets, but in 2026, appraisals are coming in higher than the contract price. In fact, statistics show that only around 10% of home appraisals are below the asking price. While the gap may be going in a different direction, the result is still the same, inaccurate valuations leave both lenders and borrowers with a problem to solve. 

How originators can weather the appraisal storm

The effect of appraisal gaps on loans is longer lock-up periods, more extensions, more renegotiations, and ultimately a higher rate of deals falling through. To stay ahead of this, originators need to consider a few solutions for managing appraisal gaps as the second quarter of 2026 begins. 

Start by building the appraisal gap into the loan structure from the beginning. Deals should factor in all the risks associated with appraisals. Whether that’s through insurance or a higher down payment, an appraisal gap needs to be accounted for, and building that into the loan structure early on provides both lender and borrower with a safety net. Developing an internal appraisal risk score can also be useful to sort deals into low, medium, and high appraisal risk off the bat. 

Environmental due diligence needs to improve, which means that climate checks may need to be done manually to rule out any errors. Along with this, there should be a shift to a more forward-planning climate risk analysis of each property. Climate risk data needs to be a standard part of the loan origination process, so that lenders can make better decisions upfront on how loans should work in high-risk zones. Geography can be used as an early signal for climate risk and to plan accordingly, because the appraisal most likely won’t be factoring that all in. 

Hybrid valuation workflows make the most sense in 2026, with AVMs still coming in useful when paired with a wider dataset. The goal is to flag the high-risk properties as soon as possible and make sure to implement the right structures to mitigate any potential appraisal gap. 

Climate volatility, geographic divergence, thin comp pools, and the limits of automated modeling have all landed at the same time. The appraisal gap in 2026 reflects an older version of the market, and a pivot is required. Lenders who build the appraisal risk at the front end of their loan process will be better prepared for future gaps. 

Kirill Bensonoff is the CEO and Co-Founder of New Silver Lending.
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners. To contact the editor responsible for this piece: zeb@hwmedia.com.

This post was originally published on here. 

New York has joined the growing list of states exploring legislation designed to govern the use of private listing networks for residential real estate listings. 

In mid-March, Assemblywoman Michaelle Solages introduced the “Fair and Transparent Real Estate Listings Act,” which has since been referred to the committee on judiciary. 

If passed, the bill would require real estate professionals to publicly advertise or market a residential property they list on platforms accessible to the general public. 

The bill defines a private listing network as a system or platform operated on behalf of a brokerage, franchise, MLS or group of licensees that restricts access to some or all listing information to a definite subset of brokers, licensees or buyers and that is not “broadly accessible” to the general public and all licensees representing the prospective buyers. 

According to the bill, within one calendar day of the start date of a written listing agreement, a listing agent must publicly advertise or market the listing for sale in or on a publication, platform or website “that is broadly accessible to the general public and any real estate licensees representing prospective buyers and shall not satisfy this requirement by advertising or marketing solely through a private listing network or other restricted-access platform.” 

Seller can give informed, written direction

Under the bill, listings could be non-publicly marketed if the seller “gives informed, written direction after receiving a standardized state disclosure that clearly explains the risks and tradeoffs of withholding a listing from public marketing.” Additionally, the bill allows the listing agent to restrict public marketing if the seller has a “bona fide private, safety or similar need” where any public marketing would be “reasonably likely” endanger their health or safety. Even with this carve out, the seller must still give written consent to the agent to not publicly market the property.

If a seller wishes to not publicly market their home, the listing may only be shared with “individual, identified prospective buyers or their agents on a case-by-case basis consistent with applicable fair housing and anti-discrimination laws.” 

While the bill would require a seller to sign a disclosure enabling their listing agent to not publicly market their property, the proposed disclosure provides sellers with a right to change their mind, stating that at “any time” they may provide written notice to their agent directing the agent to publicly advertise the property. 

A spokesperson for the New York State Association of Realtors (NYSAR) told HousingWire that it does not have a position on the bill as it is currently drafted. 

“Generally, we are supportive of the principal goals of the legislation to ensure visibility of real estate listings to the public while at the same time preserving consumer choice regarding the marketing of their property,” the spokesperson wrote in an email. “We are in conversations with industry partners regarding the legislation and potential amendments, and we will be conveying NYSAR’s perspective to state lawmakers and the Governor’s office.”

Last month, Washington Governor Bob Furgeson signed a bill into law banning the exclusive marketing of listings to select groups of buyers. This came roughly four months after Wisconsin Governor Anthony Evers signed a bill into law making the public marketing of a property the accepted default. The law is slated to go into effect on January 1, 2027. In addition to these two laws, there are bills pending in Illinois, Connecticut and Hawaii seeking to regulate private listing networks.

This post was originally published on here. 

A potent mix of global instability and financial anxiety is supercharging demand for New York City’s priciest homes — even as broader luxury segments grapple with stubborn inventory shortages.

HousingWire Data shows pending sales in the ultra-luxury single-family market — defined by a $4.3 million median price — surged 200% in the latest weekly period.

At the same time, price reductions among those high-end properties have fallen to 11.8% — well below the historical New York City average of 17.9%.

“The luxury market now is very undersupplied and extremely busy,” said Ian Slater, founder of Manhattan-based Trove Partners at Compass. “[I’ve been] busier than I have been in a long time. I think more people and more wealthy people are nervous about the stock market and volatility.

“I think they’re wanting to put their money into hard assets. So, real estate is obviously like a great hedge against that.”

Slater said he is seeing an increased number of families relocating from Dubai, which experienced an enormous post-COVID market surge as wealthy individuals fled London and New York.

He has shown listings recently to two families living in Dubai who now want to move to New York — and move quickly.

“Theoretically, you think that people are nervous and don’t want to make big decisions and don’t want to pull the trigger,” said Slater. “But real estate is a hard asset, and because of the general safety and stability of New York, a New York apartment or house seems like a pretty good option.”

On domestic political unrest, Slater said clients have grown somewhat numb.

“There’s less reactivity to things that he [the President] says than there used to be.”

Supply constraints impeding demand

While demand signals are positive in the highest price tier, the broader luxury market shows a more nuanced picture.

New listings in the multi-family luxury segment — condos and townhomes at a $2 million median — dropped 17% to 179 properties. The co-op market saw a 26% decline in new listings.

“We have a serious supply problem for things at the high end, up at the top of the market that are renovated, a very serious problem,” Slater said. “I have a lot of clients who want to move that don’t want to renovate. They want something bigger because they’ve got significantly wealthier in the past five years, and we don’t have a significant amount of people selling.”

Slater described an environment where ultra-wealthy owners are collecting real estate as opposed to selling one property and reintroducing another to the market.

“My entire inbox is frequently brokers looking for inventory, and people calling me and asking me if I have anything off market or coming up,” he said. “Buyers are looking at the market and not really finding anything that they like.”

Renovation-ready properties a hidden value

For buyers willing to look beyond turnkey offerings, Slater said opportunities exist in homes needing renovation — a segment many wealthy purchasers still avoid due to lingering fears about costs and timelines.

“I just left a client looking at townhouses,” he said. “I’m looking at things that I think are priced about 20% under where they should be, because they are in need of renovation. The length of time on the market has gotten very extensive for those things.”

The other overlooked opportunity, he said, lies outside Manhattan’s hottest enclaves — the Upper East Side, Upper West Side, West Village, Tribeca and Brownstone Brooklyn.

“If anyone is willing to look outside of these types of super-hot neighborhoods, you’re going to find better deals and a lot more optionality,” said Slater.

Local election drama fades

Concerns about New York City’s election of Mayor Zohran Mamdani drew concern from some wealthy buyers last fall — but those have largely receded, Slater said.

“I have personally only lost one deal because of fear of the mayor,” he said. “There was a lot of talk around him more in the summer. New York is this giant beast. It’s very hard to change it. So, even the wealthiest of the wealthy, who you think would be the most sensitive to anti-business rhetoric, they have to be here.

“Their [limited partnerships] are here. Their analysts are here. The talent is here. The schools are here. That’s not changing under the mayor. The reality of New York isn’t changing.”

All in all, the Big Apple’s biggest real estate clients seem to be doubling down, sometimes renovating where others won’t and showing that New York real estate remains a rain-or-shine powerhouse.

This post was originally published on here. 

A potent mix of global instability and financial anxiety is supercharging demand for New York City’s priciest homes — even as broader luxury segments grapple with stubborn inventory shortages.

HousingWire Data shows pending sales in the ultra-luxury single-family market — defined by a $4.3 million median price — surged 200% in the latest weekly period.

At the same time, price reductions among those high-end properties have fallen to 11.8% — well below the historical New York City average of 17.9%.

“The luxury market now is very undersupplied and extremely busy,” said Ian Slater, founder of Manhattan-based Trove Partners at Compass. “[I’ve been] busier than I have been in a long time. I think more people and more wealthy people are nervous about the stock market and volatility.

“I think they’re wanting to put their money into hard assets. So, real estate is obviously like a great hedge against that.”

Slater said he is seeing an increased number of families relocating from Dubai, which experienced an enormous post-COVID market surge as wealthy individuals fled London and New York.

He has shown listings recently to two families living in Dubai who now want to move to New York — and move quickly.

“Theoretically, you think that people are nervous and don’t want to make big decisions and don’t want to pull the trigger,” said Slater. “But real estate is a hard asset, and because of the general safety and stability of New York, a New York apartment or house seems like a pretty good option.”

On domestic political unrest, Slater said clients have grown somewhat numb.

“There’s less reactivity to things that he [the President] says than there used to be.”

Supply constraints impeding demand

While demand signals are positive in the highest price tier, the broader luxury market shows a more nuanced picture.

New listings in the multi-family luxury segment — condos and townhomes at a $2 million median — dropped 17% to 179 properties. The co-op market saw a 26% decline in new listings.

“We have a serious supply problem for things at the high end, up at the top of the market that are renovated, a very serious problem,” Slater said. “I have a lot of clients who want to move that don’t want to renovate. They want something bigger because they’ve got significantly wealthier in the past five years, and we don’t have a significant amount of people selling.”

Slater described an environment where ultra-wealthy owners are collecting real estate as opposed to selling one property and reintroducing another to the market.

“My entire inbox is frequently brokers looking for inventory, and people calling me and asking me if I have anything off market or coming up,” he said. “Buyers are looking at the market and not really finding anything that they like.”

Renovation-ready properties a hidden value

For buyers willing to look beyond turnkey offerings, Slater said opportunities exist in homes needing renovation — a segment many wealthy purchasers still avoid due to lingering fears about costs and timelines.

“I just left a client looking at townhouses,” he said. “I’m looking at things that I think are priced about 20% under where they should be, because they are in need of renovation. The length of time on the market has gotten very extensive for those things.”

The other overlooked opportunity, he said, lies outside Manhattan’s hottest enclaves — the Upper East Side, Upper West Side, West Village, Tribeca and Brownstone Brooklyn.

“If anyone is willing to look outside of these types of super-hot neighborhoods, you’re going to find better deals and a lot more optionality,” said Slater.

Local election drama fades

Concerns about New York City’s election of Mayor Zohran Mamdani drew concern from some wealthy buyers last fall — but those have largely receded, Slater said.

“I have personally only lost one deal because of fear of the mayor,” he said. “There was a lot of talk around him more in the summer. New York is this giant beast. It’s very hard to change it. So, even the wealthiest of the wealthy, who you think would be the most sensitive to anti-business rhetoric, they have to be here.

“Their [limited partnerships] are here. Their analysts are here. The talent is here. The schools are here. That’s not changing under the mayor. The reality of New York isn’t changing.”

All in all, the Big Apple’s biggest real estate clients seem to be doubling down, sometimes renovating where others won’t and showing that New York real estate remains a rain-or-shine powerhouse.

This post was originally published on here. 

Georgia lawmakers left the state’s main construction incentive for affordable housing untouched this year. And they offered no new relief from rising property tax valuations on apartments that rely on the Low-Income Housing Tax Credit (LIHTC) program.

Senate Bill 476 served as a centerpiece of a Republican push to finance income tax cuts. The bill would have reduced the state credit from a full match of the federal LIHTC to 50% for new projects starting in 2027. It would also have imposed a future sunset date.

Georgia’s program ranks among the most generous in the country. Many states offer their own versions of a match with the federal LIHTC program, often focusing on preserving existing affordable housing rather than building more.

Demand for affordable housing runs so strongly that some programs have closed their application process because they reached capacity. The Minnesota Housing Finance Agency, for example, closed its application process hours after opening it in February because it received more applications than available slots.

Michigan Gov. Gretchen Whitmer has proposed creating a state housing tax credit program this year to address affordable housing. Kansas lawmakers, however, decided last year to phase out that state’s program three years after launching it, saying the hit to tax revenue was much larger than expected.

The Georgia Senate passed its bill in February as one revenue offset to reducing personal and business income taxes. Leaders folded it into a larger tax package, which never cleared the House before adjournment this month.

Housing advocates and developers warned that the LIHTC proposal would chill the construction of affordable apartments. They said it would sharply cut the amount of equity that projects can raise.

Business groups also raised concerns about changing the rules midstream for a program many local governments use to support new rental housing. With the package dead for the year, the state credit remains a one-to-one match with the federal program. It continues without a legislated end date.

Constitutional push

At the same time, lawmakers revived a proposal to amend the state constitution. The change would allow LIHTC properties to be treated as a distinct class for property tax purposes.

The measure, House Resolution 1392, returned after an earlier version cleared committee two years ago but never reached a floor vote. Sponsors billed it as a way to stabilize assessments for rent-restricted projects.

The renewed push followed years of fights over how assessors value income-restricted apartments. It also arrived amid efforts to scale back the tax credit that finances much of Georgia’s affordable rental stock.

In several counties, assessments on LIHTC properties have spiked. In some cases, tax bills rival or exceed a property’s annual revenue. That result occurs when tax credits are effectively treated as income despite court rulings against that approach.

For developers, the outcome keeps the front-end financing tool stable but leaves a key operating cost unchecked. Higher assessments threaten project feasibility and long-term affordability.

Lawmakers in both chambers signaled they may revisit LIHTC funding levels and property tax treatment in a future session. The stance sets up another fight over how Georgia balances cheaper rents with lower taxes.

This post was originally published on here. 

In an industry that is not known for bold marketing, Taylor Morrison is looking to set itself apart with an out-of-the-box collaboration featuring Liquid Death.

The homebuilder and popular beverage company recently announced that they are collaborating to give away a Taylor Morrison house to one lucky winner. 

To garner headlines and attention, the prize home will be equipped with a 1,000-gallon tank that will deliver Liquid Death soda-flavored sparkling water from every water fixture and faucet. It will have about a three-day supply of Liquid Death water. After that, the property’s plumbing will return to normal. 

In an interview with The Builder’s Daily, Taylor Morrison‘s Chief Marketing Officer Stephanie McCarty says that the campaign, which kicked off on March 31, generated over 3,500 leads in the first 24 hours alone. Although the announcement came out on the eve of April Fool’s Day, the campaign is real — and it’s earned Taylor Morrison exposure in places where homebuilders rarely get attention. 

A mutually beneficial partnership

The collaboration between the two companies began when McCarty and Mike Cessario, founder and CEO at Liquid Death, shared the stage at the Pacific Coast Builders Conference last summer. 

There, the two executives discussed what makes great marketing in the modern age. After the panel, they brainstormed ways that Taylor Morrison and Liquid Death could collaborate. After some back and forth, the idea for the free home giveaway was born. 

McCarty presented the concept to the executives as more than just a fun idea, but also as an investment that will yield dividends, and more importantly, leads. Contestants can earn one entry into the giveaway contest for every can of Liquid Death they purchase. Meanwhile, every participant who tours a Taylor Morrison community can earn five entries. 

“If I know I’m going to get the brand lift in awareness, how do I get the lead generation to get the organization excited? That’s where the sweepstakes came in,” McCarty explained. 

The contest will carry on until June 30. After that, one lucky winner will win a free, roughly $355,000 home in either the Indianapolis, Orlando or Houston markets. 

The collaboration is an unlikely pairing, but it works. For Taylor Morrison, the opportunity to leverage Liquid Death’s following and fan base is invaluable. They are one of the most followed beverage companies on social media, with more than 7 million followers on Instagram alone. 

“They are a premium product. They’re not the cheapest water; people seek them out. They have built a billion-dollar brand in less than five years, and their target demographic is squarely within ours,” McCarty explained. 

Exposure in unexpected places

Liquid Death sells its drinks in a variety of retailers, like Target, Walmart, convenience stores and grocery stores. The marketing initiative with Taylor Morrison is now displayed prominently in many of those locations.

“This is a lead generator. It is also going to lift our brand awareness and put us into the culture in a more relevant way. It’s going to give us brand exposure and advertising in locations that I couldn’t, regardless of how much it costs, otherwise be in,” McCarty said. “Tell me the last time you saw a homebuilder advertised in a grocery store.”

The campaign doesn’t end there. The two companies jointly created a 60-second hero commercial and a 30-second ad to run on TV. To give the initiative another boost, Taylor Morrison stocked model homes with Liquid Death and added QR code displays for entries. The team also emailed all leads who haven’t visited to encourage them to tour a community.

The timing of the announcement was intentionally aligned with the onset of the spring selling season, a pivotal selling period for homebuilders. It’s become increasingly difficult to get prospective buyers to show up, but thousands will provide their information if they think they could win a free house. 

McCarty hopes that the idea will lead to more creative marketing campaigns in the homebuilding industry, which isn’t known for out-of-the-box marketing concepts.

“People think of resale before they think of new home construction. We are trying to flip that script and be known, be culturally relevant and be part of conversations where it’s not very expected,” McCarty said. “I hope, at least for me, when we prove out the success, and we attribute future sales and all the momentum, it just leads to more disruptive, bold, innovative marketing. Because man, our industry needs it.”

This post was originally published on here. 

Americans ages 60 and older filed 201,266 complaints with the FBI’s Internet Crime Complaint Center (IC3) in 2025. And they reported losses totaling $7.75 billion — a 59% increase over the prior year, according to the agency’s annual report.

The average loss per senior victim was $38,500, with more than 12,400 older complainants losing more than $100,000 each. Investment fraud — much of it involving cryptocurrency and fake trading platforms — inflicted the heaviest financial toll on seniors, with reported losses of $3.52 billion in 2025.

Tech and customer support scams ranked second among older victims at $1.04 billion, followed by confidence and romance scams at $584 million, the report explained.

“The scammers typically initiate contact through text messages, social media sites, advertisements, or dating applications and then quickly move the conversation to a messaging platform,” the report said. “Often, the victims are introduced to investment groups representing themselves to be knowledgeable industry insiders offering guidance on trading or investing in cryptocurrency or gold.”

Business email compromises — schemes that frequently target seniors closing on home sales — cost older victims $568 million across 4,566 complaints.

California saw the largest number of senior complaints at 22,157, followed by Florida with 17,147 and Texas with 14,410. California seniors also led in losses by dollar volume at $1.4 billion.

AI powers ‘grandparent scams’

Artificial intelligence (AI) is giving traditional elder fraud new and dangerous sophistication.

The IC3 received more than 3,100 complaints from seniors referencing AI in 2025 — with losses exceeding $352 million.

Voice cloning can also be used to request wire payment in so-called “grandparent” or “distress” scams, in which voice cloning technology is used to mimic the sound of a loved one in distress. Victims claimed losses of more than $5 million in 2025 tied to distress scams.

Data also shows this scam model evolving to mimic other family members or close friends in different types of emergency scenarios.

Seniors filed 42,271 complaints amounting to losses of $4.35 billion involving cryptocurrency in 2025.

Cryptocurrency ATMs and kiosks were a particular vulnerability. Victims 60 and older reported 6,188 such incidents, losing $257.5 million — a 58% increase in losses from 2024.

The FBI said that scammers increasingly direct seniors to physical crypto kiosks, where cash can be converted to digital currency and sent instantly to overseas fraud rings.

To compound problems, the report added that criminals are now impersonating government officials and fake law firms to approach seniors who have already lost money — offering bogus recovery services for an upfront fee.

Seniors reported $540 million in losses to recovery scams in 2025.

Fighting back

The FBI’s Recovery Asset Team froze $32.9 million of the reported $65.4 million in elder fraud cases initiated through the Financial Fraud Kill Chain in 2025.

Officials recommend that older adults and their families take several immediate steps, including;

• Enabling multifactor authentication on all financial accounts
• Never sending cryptocurrency to someone met only online
• Verifying any urgent request for money by calling the alleged family member directly using a known phone number — not the number provided in the suspicious message.

Seniors who have lost money to any cyber-enabled scam are urged to file a complaint at ic3.gov, regardless of the amount.

Jonathan Delozier reported and wrote this article with drafting assistance from HousingWire Automation, an editorial tool that helps transform announcements and industry data into HousingWire-style news coverage.

This post was originally published on here. 

First America Homes, the homebuilding division of Texas real estate developer The Signorelli Co., has hired homebuilding executive David Assid as division president for the Houston region, the company announced.

Assid will oversee operations across the builder’s communities in the Greater Houston area. He brings more than 37 years of homebuilding experience and joins the firm as it looks to expand in one of the most competitive housing markets in Texas and the U.S. In his new role, Assid will focus on broadening First America Homes’ product offerings and strengthening the company’s position in central Houston communities and established submarkets.

Most recently, Assid served as Houston division president for Chesmar Homes. Before that, he spent 24 years with Toll Brothers, moving from project management roles in Dallas-Fort Worth to senior executive leadership in Houston, including division president. At Toll Brothers, he oversaw significant growth in the Houston division and helped expand the company’s portfolio.

Earlier in his career, he held key roles at General Homes and Huntington Homes, managing construction across multiple communities and leading teams delivering luxury home projects in Dallas-Fort Worth. His career has included positions as construction manager, project manager, senior project manager, division vice president and division president.

“We’re excited to welcome David to First America Homes; I don’t think we could have found a more perfect leader for our ambitious plans for this dynamic market,” John Winniford, president of First America Homes, said in a statement. “David brings an abundance of industry knowledge and experience in the Houston MSA. These intangibles will serve us well as we pursue enhancing brand awareness and increasing market share.”

First America Homes builds in major Texas markets, including Houston, San Antonio and Dallas-Fort Worth. The builder was recently ranked as the 64th-largest private homebuilder in the U.S. and is recognized in the Builder 100 rankings. The company has constructed more than 4,450 homes across Texas and is in expansion mode, having recently opened a Dallas-Fort Worth office and acquired lot positions in the Austin area.

“As a privately owned company, First America Homes is a business driven by strong values and a focus on what matters most – delivering quality products and helping buyers achieve their dream of homeownership,” Assid said. “I am excited to contribute to its growth and success.”

First America Homes leverages The Signorelli Co.’s master-planned development platform. The company currently has 30 active communities and 15 additional communities planned.

The Woodlands, Texas-based developer currently has 13 master-planned communities in development, including Austin Point, a 4,700-acre residential and mixed-use project in Fort Bend County. Valley Ranch, a 1,400-acre community in northeast Montgomery County, includes more than 2,000 single-family and 1,000 multifamily homes, with additional single-family neighborhoods underway.

This post was originally published on here. 

Seattle-based Friday Harbor, an AI-powered mortgage underwriting platform, has hired two mortgage industry veterans, naming Kate Schilling as director of sales and Melina Stayton as customer success manager, the company announced Monday.

Schilling brings more than 13 years of mortgage experience to the newly created sales role. Stayton adds nearly 15 years of banking and mortgage experience on the customer success side, where she will work directly with lender clients using Friday Harbor’s technology.

Their hirings come as lenders are under pressure to cut fulfillment costs, improve loan quality and adopt AI tools without disrupting already strained operations. Pre-underwriting platforms like Friday Harbor aim to help lenders automate income and asset review earlier in the process, which can shorten cycle times and reduce repurchase risk.

Schilling joins Friday Harbor from Dark Matter Technologies, where she served as a senior account executive supporting mid-market banks, credit unions and independent mortgage banks, according to a press release. In that role, she sold and supported mortgage technology solutions across a broad range of lender sizes and channels.

Before Dark Matter, Schilling was a mortgage originator at CrossCountry Mortgage, giving her firsthand experience with retail production and borrower-facing workflows. She also spent more than six years at National MI as a regional team leader and account executive, serving more than 100 lender clients and working directly with capital markets and operations teams on mortgage insurance execution.

Schilling began her mortgage career as a loan processor at a regional independent mortgage bank in New England. She is based in Boston and holds a bachelor’s degree in English from North Carolina State University and an MBA from Louisiana State University at Shreveport.

Stayton joins Friday Harbor as customer success manager after nearly 15 years in banking and mortgage, including a decade at Evergreen Home Loans. She started there as a loan officer assistant before moving into operations leadership.

Most recently, Stayton was a production operations supervisor, where she helped lead companywide technology implementations, managed point-of-sale and CRM platforms, and worked to align sales and operations teams during process and system changes.

Her background as a licensed loan originator gives her direct experience with borrower interactions and pipeline management, which the company said will support adoption and change management for lender clients using Friday Harbor’s AI tools. Stayton holds a bachelor’s degree in history from Western Washington University and lives in Port Orchard, Washington.

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.

This post was originally published on here. 

REMAX Premier announced that Sharon Rizzo — a Chicago real estate professional with more than four decades of experience — has joined the firm’s new Lake Forest, Illinois, office along with her team, The Rizzo Group.

Rizzo has been recognized as a Chicago Association of Realtors Golden Eagle Award recipient after closing more than $114 million in residential sales in a single year as a sole agent.

“Joining REMAX Premier and the luxury North Shore offices allows us to elevate the level of service and exposure we provide our clients,” she said. “The strength of the REMAX brand, combined with REMAX Premier’s leadership and collaborative culture, creates an exceptional platform for our team and the clients we serve.”

Her team reported more than $25 million in volume on last year’s RealTrends Verified rankings.

“Sharon’s career speaks for itself,” said Janice Corley, founder and CEO of REMAX Premier. “Her depth of experience and long-standing relationships across the market align seamlessly with our luxury North Shore offices. As we continue expanding our presence on the North Shore and beyond, Sharon and The Rizzo Group represent the caliber of professionals we seek to attract.”

As a sales manager for condominium conversions in Chicago’s Gold Coast, Rizzo oversaw six major high-rise residential projects — including Lake Point Tower.

Earlier in her career, she worked as a medical reporter and on-air broadcaster for NBC News and later served as a national spokesperson for two divisions of the Big Three automakers.

In addition to her brokerage work, Rizzo and her daughter, Realtor Kimberly Rizzo, co-developed the nationally presented seminar “Building Wealth Through Real Estate,” which highlights real estate as a long-term investment strategy.

The Rizzo Group will operate out of REMAX Premier’s Lake Forest office effective immediately — continuing its focus on luxury homes, investment properties and development opportunities across Chicago and the North Shore.

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.

This post was originally published on here. 

Denver-based Mortgage Cadence on Monday announced the appointment of industry veteran Joe Zeibert as chief revenue officer, tasking him to align sales, customer success and go-to-market strategies as the company expands under new ownership.

The move comes as Mortgage Cadence, now part of PartnerOne, pushes to grow adoption of its Mortgage Cadence Platform (MCP) and related tools in a market where lenders are under pressure to cut costs, boost pull-through rates and cautiously implement artificial intelligence (AI) while staying compliant.

Zeibert, who has more than 20 years of experience across banking, fintech and mortgage technology, previously held leadership roles at Anchor Loans, FICO, Nomis Solutions, Ally Financial and Bank of America, according to a press release. His background spans pricing, credit and capital markets strategy, as well as deployment of analytics and automation to improve lender performance.

“What makes Joe’s addition especially meaningful is his rare blend of deep technology expertise and authentic lender perspective,” Mortgage Cadence CEO Mike Detwiler said in a statement. “He understands that growth doesn’t come from selling more, it comes from serving customers better.”

Zeibert said the role is a continuation of work that began during the financial crisis of the late 2000s, when he saw both “strengths and shortcomings” in mortgage origination.

“This inspired me to believe there was a better way to manufacture mortgages, and I committed myself to helping the industry evolve,” Zeibert said. “My goal is to create greater efficiency for lenders while ultimately improving outcomes for consumers.”

As CRO, Zeibert will work across Mortgage Cadence’s sales, customer success and delivery teams to deepen existing relationships and open new ones, with an emphasis on helping lenders extract more value from MCP through connected, collaborative engagement. This includes guidance on how lenders use automation and analytics to streamline workflows, reduce manual touches and support compliance.

The company said Zeibert will support the continued evolution of MCP and its surrounding ecosystem, with a focus on intelligent automation, operational efficiency and “human-in-the-loop” innovation that keeps loan officers and operations staff in control of AI-enabled processes.

“Joe understands that our success is directly tied to our customers’ success,” Detwiler said. “His role is not just about growth, it’s about ensuring we continue to deliver on our promise to serve while innovating the future.”

Zeibert’s hiring underscores how loan origination system (LOS) and mortgage tech providers are reorganizing around revenue operations and customer success as lenders demand clear, measurable return on investment from technology contracts signed during the post-pandemic refinance boom.

With volumes still below peak levels and origination costs elevated, vendors are being pushed to prove that automation, integrations and AI can translate into turn-time reductions, better secondary market execution and improved borrower experience.

For lenders evaluating or already using MCP, Zeibert’s mandate suggests Mortgage Cadence plans tighter alignment between its sales promises and live production outcomes, as well as potentially more structured programs involving implementation, optimization and ongoing value realization.

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U.S. homebuilders reported that sales softened in March compared to February amid economic volatility and a spike in mortgage rates, according to the BTIG/HomeSphere monthly homebuilder survey.

Demand cooled after early-year gains, the survey of small and midsized homebuilders found. In March, 35% of builders reported year-over-year sales declines, up from 23% in February. At the same time, 34% saw higher sales, only slightly better than 32% in February.

Consumer traffic softened more clearly too as 33% of builders reported higher year-over-year traffic, down from 43% in February, while 35% reported lower traffic versus 18% the prior month.

At the same time, sales versus internal expectations weakened. In March, 26% of builders said sales were better than expected (down from 33% in February), and 26% said sales were worse (up from 22% in February), bringing the “better-minus-worse” spread to 0 from +11.

For traffic, 24% of builders viewed results as better than expected (down from 40% in February), while 21% saw traffic as worse (up from 11%), taking the corresponding spread down to +3 compared to +29 in February.

Fewer builders raised their base prices in March. According to the report, 17% of builders increased some, most or all base prices, down from 19% in February. More reported cutting prices, with 23% lowering some, most or all base prices versus 21% in February.

The use of incentives also moved higher. In March, 24% of respondents increased some, most or all incentives, up from 18% in February. About 6% decreased incentives, and 59% kept them unchanged, similar to last month.

Commentary from participants also turned more cautious. Builders in multiple regions cited the conflict in Iran, rising gas prices and reaccelerating mortgage rates as near-term headwinds on buyer urgency and confidence. These macroeconomic pressures appear to be amplifying ongoing affordability and inventory challenges just as the industry enters the peak spring selling window.

For homebuilders, the March reading suggests the early-year improvement in demand is fragile. Higher borrowing and energy costs are pushing some buyers to the sidelines, forcing many builders to lean harder on incentives and selective price adjustments to protect absorption and backlog quality heading into the heart of the selling season.

Tyler Williams reported and wrote this article with drafting assistance from HousingWire Automation, an editorial tool that helps transform announcements and industry data into HousingWire-style news coverage.

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Hedge fund and activist CoStar Group investor Third Point has sold its shares of the Andy Florance-helmed firm. This news was first reported by Reuters and confirmed to HousingWire.

Third Point CEO Daniel Loeb informed investors of his firm’s decision to sell its shares in CoStar in a letter on Friday. 

​​The size of Third Point’s stake in CoStar remains unknown, but the hedge fund was ranked among CoStar Group’s 15 biggest investors.

Third Point did not immediately return HousingWire’s request for comment on its decision to divest its shares of CoStar Group. 

In an emailed statement, a CoStar Group spokesperson wrote that the company is “focused on executing our proven playbook to build on our momentum as we enter our next chapter of margin expansion and profitable growth. 

“We look forward to continuing to engage with stockholders as we continue to unlock the tremendous value of our digital ecosystem,” the spokesperson added. 

This move comes roughly two and a half months after Third Point sent a letter to CoStar’s board of directors calling on the firm to replace the majority of the board with “more qualified directors,” refocus on the firm’s core commercial real estate business and consider “strategic alternatives” for Homes.com, including shuttering or selling the platform. 

In response, CoStar has said that divesting Homes.com would cause the firm and its investors “irreparable harm.”

This letter came nearly a year after Third Point called on CoStar to embark on a journey of “meaningful self-help” and forcing the company to shake up its board. 

“So little progress has been made that we are convinced the Company never intended to do any of the things we discussed when we entered into the agreement,” Third Point wrote in its letter earlier this year. 

In January, CoStar provided investors with an update on financial and corporate governance initiatives for 2026, much of which they said was the result of a “robust review” of the company by the Capital Allocation Committee. While the update painted a fairly rosy picture for the firm as a whole in 2026, with estimated 18% year-over-year revenue growth to between $3.78 and $3.82 billion and a net income of $175 million to $215 million for the year, things did not look quite as strong for CoStar’s Homes.com. 

Although Homes.com has recorded a 337% increase in subscribers since Q1 2024, according to CoStar, the firm said it does not expect Homes.com to attain positive adjusted EBITDA until 2030. 

While CoStar Group is no longer facing activist investor pressure from Third Point, investor D.E. Shaw has also called on CoStar to divest Homes.com.

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The Jackson Arnett Group, a top-producing luxury real estate team in Rancho Santa Fe, has joined Douglas Elliman Realty in Rancho Santa Fe and North County coastal San Diego after more than seven years at Compass, the brokerage announced Monday.

Led by Delorine Jackson and Ian Arnett, who both serve clients along side agent Bayley Bachiero, the team will be based in Douglas Elliman’s Del Mar office, overseen by Dan Tomasi, executive manager of sales for San Diego, according to the company announcement.

In 2024, The Jackson Arnett Group closed 17 transaction sides totally over $52 million in sales volume, according to RealTrends Verified data. This performance earned the small team the No. 188 rank in the state for sales volume in the 2025 RealTrends Verified Rankings.

Douglas Elliman said the team’s move will deepen its footprint in Rancho Santa Fe and along the North County coastal corridor, two of Southern California’s highest-priced and supply-constrained luxury markets.

“We are thrilled to welcome Delorine, Ian and Bayley to the Douglas Elliman family,” Michael Liebowitz, president and CEO of Douglas Elliman Inc., said in the announcement. “Their extraordinary track record, deep roots in Rancho Santa Fe and North County San Diego, and commitment to excellence align perfectly with our vision of empowering elite agents to deliver unmatched service in California’s premier luxury markets.”

Jackson, a longtime Rancho Santa Fe resident, brings more than 20 years of experience as a luxury real estate advisor and entrepreneur. Her background includes commercial property investments focused on revitalizing Rancho Santa Fe’s downtown village, tying the team’s business strategy directly to local economic development.

“After more than two decades building our business in Rancho Santa Fe and North County Coastal San Diego, this move to Douglas Elliman represents the next meaningful chapter for our team and our clients,” Jackson said in a statement.

Arnett, a native of the greater San Diego region, has been a licensed real estate agent for more than 27 years. He is known for pairing local market knowledge with a design-forward, ROI-focused approach to listings, helping clients increase equity through targeted upgrades, floor-plan changes and cost-effective improvements.

“Joining Douglas Elliman is a strategic and exciting step forward for our team,” Arnett said in a statement. “This move will enhance our ability to maximize opportunities for buyers and sellers — from strategic property enhancements to publicizing high-end transactions — all while maintaining the personal, integrity-driven service our clients have come to expect.”

“Delorine, Ian and Bayley’s unique blend of market mastery, entrepreneurial spirit and community impact provide unlimited opportunities for buyers and sellers across San Diego’s high-end residential sector,” Bill Begert, the chief operations officer of brokerage, Western Region, Douglas Elliman, said in a statement. “The addition of the Jackson Arnett Group underscores Elliman’s unwavering commitment to supporting top-producing teams.”

This article was written by Brooklee Han and generated with the assistance of HousingWire Automation. It was reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.

This post was originally published on here. 

RealTrends Verified’s 2026 brokerage rankings reveal clear momentum for technology-fueled challengers, with The Real Brokerage and LPT Realty again emerging as significant movers.

The Real Brokerage, led by CEO Tamir Poleg, held steady at No. 5 by sales volume with $65.2 billion.

But the company’s more notable achievement came in transaction sides, where it jumped to No. 5 — overtaking Hanna Holdings — and led all brokerages with a 40,749 yearly side gain.

Meanwhile, LPT Realty, headed by founder and CEO Robert Palmer, delivered one of the breakout performances of the rankings.

The firm vaulted from No. 10 to No. 7 in transaction sides — increasing its total to 61,04 and ranking third nationally with a 24,672 increase.

Poleg: ‘Agents follow value’ — not sign-on bonuses

For Poleg, Real’s sustained growth comes down to a single bet; agents will pay for tools that actually work.

“Real is the only brokerage that managed to grow so substantially in 2025 and 2024 as well, while we actually increased our pricing and increased our fees three times in the past three years,” he told HousingWire. “Typically, in times like these, brokerages cut fees and add a lot of concession and promotions, but we did exactly the opposite.”

That strategy, he argued, proves that agents follow value — not the lowest price, sign-on bonuses or recruiting checks.

“We just believe that the model by itself is very attractive,” Poleg said, pointing to Real’s proprietary platform reZEN as the technological backbone of that value proposition.

“reZEN consists of multiple features and products for agents, but essentially it’s like an operating system for an agent business,” Poleg said. “It gives full visibility into the agent’s business and finances on our platform. It’s been a huge, huge driver and we keep adding more layers to reZEN.

Roughly 18 months ago, Real added Real Wallet — allowing agents to open checking accounts, access lines of credit and more.

The results have been striking, Poleg said.  

“We have over 7,000 agents right now banking with us on the wallet,” Poleg said. “Their churn is about 80% lower compared to agents that are not on the wallet.”

That retention metric has helped keep revenue churn at its lowest level in five years.

“We are determined to think very long term,” Poleg said. “That means investing in technology that will give our agents an unfair advantage in the next five or 10 years. We are thinking about profitability, but at the same time, we put a lot of resources into tech development.

“In 2026, our [research and development] budget has increased, but we were able to both grow significantly, lower our operating expenses per transaction, and invest heavily in technology, all three together, which is outstanding.”

When asked about the risk of a growth plateau — a common concern for rapidly expanding firms — Poleg dismissed the idea.

“If you look at the past three years, we were able to add anywhere between 5,000 to 10,000 agents on an annual basis for three years in a row,” he said. “I think that that trajectory will continue. What’s happening right now is a paradigm shift in real estate. Agents are migrating from traditional models such as Keller Williams or Century 21 to newer models like Real and even LPT and eXp.

“Agents today are looking for something else. They’re looking for more freedom, more flexibility, more technology and just a brokerage that is a platform for them to grow their businesses on — rather than a brokerage that you join and you actually build somebody else’s business.”

Palmer: Meeting agents where they are

For LPT Realty’s Palmer, the secret to his firm’s rapid ascent — from No. 10 to No. 7 in transaction sides — is rooted in a philosophy of individualized support rather than a one-size-fits-all model.

“A big part of what we did is we built models that meet agents where they are,” Palmer said. “Instead of trying to force them to be something for us, we try to meet them where they are in their career.”

That approach centers on what Palmer calls an “individual definition of success.”

“Whether that’s an agent selling three, four or five houses a year, or a team leader who wants to build a 2,000-unit-a-year team, we’ve got a plan and infrastructure here at LPT to help them grow and achieve that definition of success,” he said. “I think that’s probably been our single biggest differentiator.”

On compensation, Palmer pushed back against the notion that agent-friendly cap models necessarily hurt brokerage margins.

“When people think about the cap model, if you look at the other publicly traded cloud models, having too many high producing agents is actually more damaging to your margin than our model is,” he said. ”We have lots of high-producing agents. I think we’re submitting 600-plus agents and teams for [RealTrends Verified’s rankings] this year.

“We also didn’t leave the smaller agent behind. We didn’t leave the agent who’s just getting going behind. It’s really helped us balance out the business.”

Recruiting, Palmer said, has been driven by productivity — not just headcount.

“You’ll see in our rankings there, our transaction count grew faster than our agent count,” he said. “Agents continue to become more productive as they get on the platform.”

On the question of a potential growth plateau, Palmer shared similar sentiments to his counterpart at The Real Brokerage.

“We’re the fastest brokerage to ever reach the top 10 — the fastest brokerage to ever reach No. 7,” he said. “But we’ve actually been pretty judicious about the growth. We’re focused geographically and a dominant force in the state of Florida. We’re the number one brokerage by agent count and transaction count in Central Florida, where we originally launched.

“We’ve got dominant agent counts and transaction counts in California and Texas, but there’s still a lot of room for us to grow.”

As for commission compression following the NAR settlements, Palmer said LPT’s average price point in the high $300,000s insulates the firm.

“We’re very much helping the average first-time homebuyer, the average American buy a home,” he said. “We’re not specializing in multi-million-dollar properties, which is where I think you see the most commission compression. The nature of our cap and our flat fee means that we’re really in a great position to [hit financial goals] and still give the agent plenty of room to succeed if there is a little bit of commission compression.

“But I can tell you to date, we haven’t seen any commission compression happening across our business.”

Steve Murray: Plateaus hard to avoid

Longtime industry expert Steve Murray — senior advisor for HousingWire and founder of RealTrends and RTC Consulting — offered a dose of perspective for Real and LPT.

“They still have room to grow, but the big factor is when you’re the new guy and you have a different model,” he said. “When you’re using equity in your business as a means to recruit agents, sooner or later, you run out of equity, as Compass found out. Sooner or later, you can’t just keep offering your stock to agents and teams.”

On the question of a growth ceiling, Murray was unequivocal.

“Every firm I’ve ever noted in my years of doing this — they use various means to grow rapidly — and every one of them seems to hit a plateau of some kind,” he said. “Then it becomes harder to keep growing at that rate, because there’s always new forms of competition offered out there.

“At their current levels of production, [Real and LPT] would need to quadruple in size to be doing enough transactions to break through to the top three.”

Even if a slower growth period comes for one of or both companies, Murray said what Real and LPT have achieved demands respect and acknowledgement.

“At one time, REMAX was the new guy on the block,” he said. “At another time, Keller Williams was the new guy on the block. eXp was the new kid with the new model and new offerings. They all grew extraordinarily rapidly. Then they all seemed to hit a certain level, and they’ve all kind of plateaued. It’s just the nature of our industry and the way it works.

“Still, [Real and LPT] should be proud of what they’ve achieved, and I’m greatly respectful of what they’ve accomplished.”

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Over the past year, consolidation has consumed the real estate industry, with many questioning if mid-sized regional independent firms would be able to survive, let alone contend in this emerging environment dominated by national monoliths like eXp Realty and Compass International Holdings. The 2026 RealTrends Verified Rankings, however, make these concerns seem irrelevant. 

Independent brokerages accounted for 28.79% of market share in this year’s rankings, which are based off of 2025 production, up from 26.98% last year.

This is exemplified by the impressive jump made by LeadingRE, a network of independent real estate firms, leaping from the No. 5 brand in 2025 to the No. 2 brand by transaction sides and increasing its market share to 11.08%, up from 8.93%.

Included in LeadingRE’s network are many top-producing brokerages including Hanna Holdings, which ranked No. 6 by both sides and volume, William Raveis Real Estate, John L. Scott Real Estate, Brown Harris Stevens, The Keyes Company/Illustrated Properties, Baird & Warner and First Team Real Estate. In total, the LeadingRE network closed 462,910.4 transaction sides totaling $275.844 billion in sales volume in 2025.

Private independent firms prove they can compete against public companies

“While many people think the model of a privately owned independent brokerage is destined for the dustbin, the data seems to say otherwise,” Steve Murray, the co-founder of RealTrends Consulting, said. “Anybody who says that a privately owned independent, local, regional brand can’t compete, doesn’t know what they’re talking about.”

Kate Reisinger, the chief operating officer of LeadingRE, shared a similar sentiment. 

“Over the past few years, the industry has gone through so much change — market shifts, consolidation, the evolution of the business model — and in that environment, independent firms have navigated the complexity with laser sharp focus, determination and optimism,” Reisinger said. 

Hyperlocal equals consumer trust

Resinger, in part, attributes the success of these companies to their local nature.

“These are firms that are so entrenched in their communities. They are hyper-local, and that allows them to stay close to their agents and clients,” Reisinger said. “In a time of so much change and uncertainty, not only in our industry but also in national news, consumers are craving very clear direction, assurance, expertise and trust. Those are all strengths of these independent companies, in part because they are so deeply embedded in their communities. We have companies in our network that are over 100 years old. They aren’t just operating in a market; they helped build the community.”

For Murray, the strong performance by independent firms in 2025, exemplified by the LeadingRE Network, illustrates that a firm with a good leader, no matter if they are a large national company or a regional independent firm, will be successful. 

“As long as this business is still mostly about the ability to recruit and develop and retain good agents, any good leader of a brokerage company, whether they’re with a brand or they’re independent, has an equal opportunity to compete and grow,” Murray said. “Since RealTrends started ranking brokerages, we’ve consistently said that the data shows that by far, the most important characteristic of a successful growing brokerage company is the leadership — not the tech and not the brand.”

Attracting talent

The strong ability of many of LeadingRE’s broker-owners to attract talent and grow was reflected in the many M&A deals conducted by LeadingRE firms in 2025. Notable acquisitions in 2025 include Baird & Warner’s acquisition of Dream Town, Lamacchia Realty’s acquisition of Tirrell Realty, Portside Real Estate Group’s merger with Swan Agency Real Estate and Howard Hanna’s entrance into New York City with its acquisition of Elegran Real Estate. 

“It is clear that leading independents have been actively engaged in acquisitions as a means of growth,” Murray said. 

While many leading independent firms have been acquired over the past few years, including Compass’s acquisition of Latter & Blum, Murray said independents have a way of “regenerating.” 

“Even with the acquisitions, independents continue to be leading companies in many markets,” Murray said. 

Reisinger attributes this to leaders being able to identify and capitalize on opportunities.

“Independents are able to be nimble and they can make decisions quickly, says Reisinger. “With large homogenized brands, decision making often takes longer and sometimes the choices made do not always reflect the realities or priorities of the local market or culture,” she said. “Independent firms are adapting in real time and changing and evolving with change. Rather than being disrupted by it, many of our firms are using it as an opportunity to strengthen their position.”

While Reisinger acknowledges that consolidation continues to be the norm right now in the real estate industry, she still believes that there will continue to be opportunities for independents to succeed. 

“We are seeing a bifurcation in the market right now,” Reisinger said. “On one side are large scale organizations and on the other are hyper-local, highly focused firms that, according to the data, are outperforming the market. That is where we lean in, continuing to inspire trust in our markets and demonstrate our expertise because we perform best when we capitalize on those strengths.”

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The housing market doesn’t turn all at once.

But over the past decade, one pattern has shown up again and again: Housing cycles tend to unfold in a recognizable sequence, and the earliest signals appear when pricing behavior and buyer response start to diverge.

That’s the real playbook for navigating today’s housing market.

Housing cycles tend to follow a sequence

Looking back across the past 10 years — from post-recession recovery to pandemic acceleration to today’s more fragmented market — the same pattern tends to repeat.

Demand builds. Sellers push pricing. Buyers begin to push back. The market resets. Then recovery begins again, often unevenly.

Not perfectly. Not on a fixed timeline. But consistently enough to matter.

The signals that matter most

Across markets, three signals are defining how housing is actually behaving right now: pricing behavior, market response and friction.

Pricing behavior: where sellers are pushing

List prices show where sellers want the market to go.

Right now, median list prices are near $440,000, while roughly one-third of listings are cutting price. At the same time, buyers are accepting prices below asking, creating a clear 9% gap between seller intent and market reality.

This is not a collapsing market. It is a market negotiating.

Market response: whether buyers are following

The next question is whether buyers are actually agreeing.

Demand remains functional, but uneven. Well-priced homes are still selling in 63 days, while overpriced homes are sitting significantly longer — pushing the average to 121 days. That 58-day spread is what defines today’s two-speed market.

Friction: where expectations start to break

This is where markets turn.

Withdrawals now account for 22% of weekly activity, and deal fallout continues to show up across markets — clear signs that transactions are failing to close at initial expectations.

That pressure is what eventually forces pricing to adjust.

How housing cycles actually unfold

Across cycles, housing markets tend to follow the same sequence: Sellers push prices higher, buyers initially keep pace, and then acceptance begins to weaken. Price cuts rise, deals stall and the market resets.

The key insight is that markets do not turn when prices fall. They turn when pricing and buyer behavior fall out of sync.

This has played out repeatedly in recent cycles. In 2022, markets like Phoenix made it clear. Sellers continued pushing prices even as buyer follow-through weakened, and the gap between asking and accepted prices widened into double digits before the market reset.

What this cycle looks like now

Today’s data points to a market in negotiation, not one moving in lockstep.

With price cuts hovering around one-third of listings and a meaningful gap between asking and accepted prices, today’s market looks very different from the unprecedented acceleration of 2021 and the challenging recalibration of 2023.

That view aligns with Logan Mohtashami’s latest weekly Housing Market Tracker, which shows inventory growth slowing sharply, new listings still constrained and demand soft but not broken. Mortgage rates below 7% are keeping the market functional, even as momentum remains capped.

In other words, supply is no longer expanding the way it was, but demand has not fully rolled over either. That leaves housing in a market-by-market balancing act, not a clean national upswing.

The real story is local

Markets diverge before they turn.

Some metros reaccelerate earlier. Others show stress sooner through wider pricing gaps, more price cuts or slower conversion. That divergence is not noise. It is often the signal.

Local markets tend to turn before national averages do, making them the earliest read on where the cycle is heading.

What to watch next

The next phase of this cycle will likely be determined by one thing: whether pricing and buyer behavior move back into alignment — or further apart.

If the gap between asking and accepted prices widens, it would signal more friction ahead, with additional pressure on sellers and a higher likelihood of price adjustments.

If that gap narrows, it would suggest buyer acceptance is strengthening and that the market may be stabilizing or beginning to reaccelerate in select areas.

The signal will not come from price alone. It will come from whether buyers are actually following.

Takeaway: Watch the gap, not just the price

Pricing shows intent. It tells you where sellers want the market to go.

Buyer behavior shows acceptance. It confirms whether the market is actually following.

Price cuts and deal fallout show friction. They signal when expectations are breaking.

The earliest signals are local. Market shifts tend to show up in specific metros before they appear in national data.

The bottom line

Over the past 10 years, housing cycles have been defined by behavior.

Sellers push. Buyers respond. When the two fall out of sync, the market has to adjust.

That is the signal to watch.

To track real-time pricing, demand and market signals at the national, metro and ZIP-code level, explore HousingWire Intelligence. For deeper context on rates, demand signals and the macro backdrop shaping housing activity, read HousingWire’s Housing Market Tracker weekly analysis.

HousingWire used HousingWire Data to source this story. This article is based on single-family residence data through April 10, 2026. For enterprise clients looking to license the same market data at a larger scale, visit HousingWire Data.

This post was originally published on here. 

As consolidation reshapes the mortgage landscape, Bayview Asset Management’s acquisition of Guild Mortgage is emerging as a case study in how to scale without disruption, particularly in the often-misunderstood reverse mortgage space.

In a conversation with HousingWire‘s Reverse Mortgage Daily, Jim Cory, managing director of reverse mortgages at Guild Mortgage and co-chair of the board for the National Reverse Mortgage Lenders Association (NRMLA), shared details on how the transition has unfolded, why the deal is viewed as a “massive net positive,” and how broader shifts like product innovation and growing participation by large independent mortgage banks are redefining the trajectory of reverse mortgage lending.

Editor’s note: This interview has been edited for length and clarity.

Sarah Wolak: Has Bayview’s acquisition changed or enhanced Guild’s reverse division?

Jim Cory: The acquisition went very smoothly. Bayview basically said, “We want Guild to run as Guild” and kept all the management in place. So as far as that goes, it’s the same group overall at Guild, including on the reverse side.

Bayview is excellent at developing products, and we see this as a benefit. It brings a lot of capital to the table, so we’ll see what changes happen going forward, but we’re seeing this as a massive net positive.

Wolak: That’s interesting, since acquisitions can involve companies deciding to clear house and start from scratch. How has the transition been?

Cory: Not easy, but it hasn’t been disruptive. That’s the best way to put it. It’s a massive net positive.

Wolak: Shifting to the state of reverse, many stories over the past few months have centered on concerns about the Home Equity Conversion Mortgage (HECM) program. Are there any concerns or emerging trends that you’re noticing?

Cory: I’d point to no concerns; I see the reverse business being stronger than ever. I see two major trends going on, though. One is the development of new products. People look at HECM and say there aren’t as many being made and it doesn’t seem like it’s growing.

But what is growing is the sheer number of products, and usage is really taking off. It’s easy to find HECM numbers but much harder to track proprietary reverse products or loans being sold as retirement mortgage solutions. We’re seeing a significant increase in the usage of reverse mortgages and retirement loan strategies. It’s very healthy.

The second trend is the inclusion of large forward independent mortgage bankers, like Guild. All the major IMBs not just sell reverse but have thriving reverse departments. They’re doing things like underwriting and funding their own reverses, and really growing in the space.

Wolak: Are there specific strategies that are gaining traction?

Cory: One of the latest is second-mortgage strategies — whether it’s a HELOC or a HELOAN. It could be a reverse, meaning no payment and age-based, or something similar to a reverse.

Also, when people express concern about HECM, I think some of the concern is when you only look at HECMs. I look at it differently. I’m thankful the current administration wants more proprietary lending. It’s not necessarily less FHA, but it’s a better balance between FHA and proprietary lending. That’s exactly what we’re seeing and it’s a good thing for the industry.

Wolak: Does the growth of larger lenders in the space help address stigmas and preconceived notions borrowers have about reverse mortgages?

Cory: Yes. We’re seeing a lot of growth, and it goes hand in hand with product. At Guild, the goal isn’t just to sell reverse. It’s to present an option to someone. If someone is purchasing or looking for a cash-out refi, we’ll give them multiple options. If they’re an elderly American, we’ll present reverse or reverse-like products. 

Wolak: What is most critical heading into 2026 from a policy standpoint, particularly through your work with NRMLA?

Cory: As co-chair of NRMLA, I’d say a lot of this stems from HUD’s request for information last year. NRMLA answered the RFI, a lot of other groups did too, and many of the answers seemed to be the same. 

Changes are needed to the mortgage insurance premium structure, especially the upfront MIP, which has stayed the same while lending amounts have declined due to higher rates. People are paying more upfront for less. There’s probably a better structure out there.

NRMLA also reinforced the importance of counseling. There’s been some turbulence in that area, and we think that counseling with HECMs and reverse mortgages overall, all of the different products require the borrower to be counseled. We think that is just absolutely important — and for a protected class, that’s really needed.

NRMLA also talked about indexing to the Secured Overnight Financing Rate (SOFR) instead of the Constant Maturity Treasury (CMT). We also mentioned servicing reform: HUD is currently in the servicing business due to loan assignments, and NRMLA offered HUD a way to get out of the servicing business and keep that servicing with the servicer, which would be less disruptive for the client and would alleviate some of those concerns.

Modernizing the second appraisal process is also a big one. On the forward side, you use a collateral underwriter, which analyzes the appraisal and has a couple of different things that basically forces a lender to do, at a minimum, running some automated valuation models (AVMs) and compare it with the collateral underwriter score.

It could involve a desk review. It could involve a second appraisal, but we find that a second physical appraisal is unnecessary, and is really disruptive and confusing for our senior clients.

Wolak: What’s the justification for the second appraisal process?

Cory: The original goal was to address overvaluation. The simplest solution was to require a second appraisal. Well, the confusion is now the borrower has two different appraisers come to their house. What if they have totally different opinions of the value? What if they have different opinions as to what repairs are required? It just causes concern and confusion for everyone involved. 

We did not recommend eliminating it but modernizing it to be similar to the forward side. For example, using a collateral underwriter score or a desk review instead of a second full appraisal.

Wolak: Are there other areas where reverse could be modernized?

Cory: Modernizing financial assessment. For example, you can’t pay off unsecured debt at closing to help a borrower qualify, which we do all day, every day on the forward side. It’s a key component of mortgage lending and it’s not allowed for HECMs.

In fact, in the 2017 HECM Final Rule, it said the FHA commissioner has the authority to allow the payoff of unsecured debt as a mandatory obligation paid at closing, and they never chose to do it. It’s unclear why that isn’t allowed.

The concern has been that borrowers might run debt back up. I don’t like that argument, because they could do the same thing on the forward side — and on the forward side, they’ve got a payment to make.

In reality, reverse borrowers often improve their credit. They get the reverse mortgage, they get cash at closing and they start paying down debt. They get rid of high-interest credit card debt. They pay off high-interest installment debt.

This post was originally published on here. 

You’re experienced. You’ve closed deals, navigated tough transactions and built a book of business. But your production hasn’t meaningfully changed.

One month is strong, the next is quiet. No matter how many hours you put in, it’s hard to build consistent momentum.

This is where a lot of agents stall.

According to the National Association of REALTORS®, agents with six to 15 years of experience close a median of 11 transactions per year. Those with 16+ years close 10. After years in the business, most agents aren’t scaling. They’re maintaining.

This article breaks down how to move past it, with a practical development plan built for agents who already know the basics but need a more intentional path forward. You’ll get a diagnostic framework, a way to reset your production math, a 90-day skill plan and a weekly operating system to tie it all together.

Step 1: Diagnose why you’re stuck

Before you build anything, you need to know which kind of plateau you’re dealing with. Not all stalls look the same.

Most plateaus fall into one of four categories. The key is identifying which one you’re in so you can stop guessing and start solving the right problem.

Lead generation plateau

This shows up when your pipeline feels unpredictable. You might have strong months followed by uncomfortable gaps, which usually means your lead flow isn’t consistent or diversified.

Ask yourself:

• Is my pipeline consistently full, or am I scrambling every other month?
• Are my leads coming from just one or two sources, with no backup plan?
• Have I stopped actively prospecting because I feel like referrals should be coming in by now?

If this sounds familiar, the issue isn’t effort. It’s that your lead generation isn’t systemized. You’re relying on momentum instead of creating it.

Conversion plateau

You’re getting opportunities, but they’re not turning into closed deals at the rate they should. This is where a lot of experienced agents get stuck because they assume experience alone should carry the conversation.

Ask yourself:

• Do my leads go quiet after the first call or showing?
• Is my appointment-to-contract ratio flat or declining?
• Am I losing listings at the presentation stage more often than I’d like to admit?

This usually points to gaps in follow-up, messaging or how you’re guiding clients through decisions. Small improvements here can have a massive impact on your income.

Positioning and brand plateau

This is less about what you do and more about how you’re perceived. If your brand isn’t clear, you’re competing on effort instead of authority.

Ask yourself:

• Do people in my housing market know what I specialize in, or am I “just a real estate agent”?
• Is my online presence doing any heavy lifting, or is it just sitting there looking dated?
• Am I getting passed over for agents who seem less experienced but more visible?

When your positioning and brand are unclear, you end up chasing business instead of attracting it.

Skill and confidence plateau

This one is subtle but powerful. You’re experienced, but there are certain moments where you hesitate, avoid or play it safe.

Ask yourself:

• Do I hesitate in pricing conversations or negotiations?
• Am I avoiding certain deal types because they feel uncertain?
• When was the last time I intentionally practiced a skill outside of an actual transaction?

At this stage, growth comes from refinement, not repetition. If you’re only practicing during live deals, you’re limiting how far you can improve.

Get reinspired by completing Colibri Real Estate’s Real Estate Leadership and Career Achievement (RELCA) Certification. The certification includes courses on strategy, as well as practical tools to help you break through a plateau.

Step 2: Reset your production math

A lot of agents stay busy but don’t have a clear target they’re working toward. They know they want to make more money, but they’re not tracking the numbers that get them there.

The fix is to get specific. When you understand your numbers, you can reverse-engineer your income goal into clear, weekly activity targets you can control. Here’s the framework:

• Set your annual income goal: Define exactly how much you want to earn this year.
• Calculate your average commission per transaction: Use your realistic average, not a best-case deal.
• Determine the number of transactions needed: Divide your income goal by your average commission.
• Identify your listings-to-buyers ratio: Focus on the side of the business that’s most efficient for your market and skill set.
• Know your appointment-to-close conversion rate: Understand how many appointments it takes for you to secure a signed client.
• Establish weekly activity targets: Work backward to determine how many appointments and conversations you need each week.

In short, flat production isn’t a bad market problem. It’s a plan problem.

If your goal is $120,000 and your average commission is $10,000, you need 12 closes to reach that goal. If half your business comes from listings and your listing-to-close rate is 60%, that means you need about 10 listing appointments per year, roughly one every five weeks. Every week you don’t hit that number, the math starts catching up to you.

Step 3: Build a 90-day skill acceleration plan

Here’s where most real estate agents get it wrong. They mistake being busy for developing. Showing 12 houses a week is activity; refining your listing presentation after every appointment is growth.

This 90-day plan focuses on leveraging skills because those are the ones that multiply results without multiplying hours.

Month 1: Listing mastery

Listings are the engine of a scalable real estate business. If you’re not consistently winning them, everything else is harder and more expensive.

• Tighten up your listing presentation so it follows a clear, repeatable flow that you can deliver without notes.
• Get sharper with your pricing strategy and how you walk through your CMA, so sellers trust your numbers before you even leave the room.
• Level up how you handle the most common objections you hear, especially the ones that tend to throw you off.
• Practice your full presentation out loud at least once a week. (Yes, actually out loud. It makes a difference.)

The goal isn’t perfection. It’s confidence built through repetition.

Month 2: Conversion optimization

Getting leads isn’t the finish line. Month two is about turning more of what you already have into signed contracts.

• Develop a buyer consult script that builds trust fast and sets clear expectations upfront.
• Build a follow-up cadence that doesn’t rely on your memory. (Your CRM doesn’t forget.)
• Create a lead nurture sequence for the people who aren’t ready yet but will be in 60 to 90 days.
• Practice negotiation scenarios, especially multiple offer situations and post-inspection conversations.

The typical REALTOR® earns only 20% of business from repeat clients and 21% from referrals, according to NAR data. That number climbs to 41% repeat business for agents with 16 or more years of experience. The gap isn’t time. It’s a system.

Month 3: Market authority

Month three is about planting the seeds that make the next six to twelve months easier. This is how you become the name people say when someone asks, “Do you know a good agent?”

• Define a niche, whether that’s a neighborhood, price point or buyer type, and commit to it.
• Show up consistently with local content: a monthly market update, a community newsletter or a social post that’s actually useful.
• Build at least three referral partnerships with complementary professionals like lenders, attorneys or financial advisors.
• Get visible in your community beyond your business profile.

This isn’t overnight work, but it’s what separates agents who hustle from month to month from agents who’ve built a business that generates business.

Weekly operating system for growth

One of the fastest ways to stay stuck is to have no structure to your week. Here’s a schedule built for agents serious about breaking through.

• Two days, prospecting intensity: Spend two days on focused prospecting. Use dedicated time blocks for lead generation, outbound calls, database touches and neighborhood outreach.
• One day, listing presentation improvement: Dedicate one day to improving your listing presentation by reviewing your last appointment, identifying one area to refine and practicing it before the next one.
• One day, relationship expansion: Use one day to expand relationships by meeting with a referral partner, following up with past clients or getting involved in your community to build visibility.
• One skill deep-dive block: Schedule one skill deep-dive session each week, such as completing a course module, joining a coaching call or participating in a role-play exercise.
• One metrics review session: Hold one metrics review session where you analyze your numbers, compare them to your production goals and adjust what isn’t working.

This isn’t rigid. But agents who operate with a repeatable weekly structure consistently outperform agents who wing it.

How continuing education can be a growth lever (not just a requirement)

Most agents treat continuing education as a requirement to maintain their licenses. The agents who continue to grow treat it as a way to upgrade how they operate.

One option designed specifically for this stage is Colibri Real Estate’s Real Estate Leadership and Career Achievement (RELCA) Certification. It focuses less on transaction basics and more on how to build a more structured, scalable business.

The program includes:

• Four self-paced courses (eight hours total) focused on business strategy and growth 
• A set of practical tools, including business planning and career mapping resources
• Applied assignments to translate concepts into your day-to-day operations
• A certification exam and a credential upon completion
• Ongoing access to the material for continued reference

The curriculum centers on defining a revenue model, setting measurable benchmarks, evaluating broker licensure decisions and building systems that support long-term growth rather than short-term production.

For agents who feel stuck despite experience, this type of structured development can provide a clearer path forward. It’s available free with Colibri Real Estate’s Pro or Premier CE Membership, or at a discounted rate for individual purchase with your CE membership.

Choose a CE Membership Package

This post was originally published on here. 

Mortgage servicers and their partners need dashboards for speed and transparency.

Interactive dashboards are a practical application of business intelligence (BI) technology, designed to make data accessible and actionable for day-to-day decisions. Microsoft Power BI and similar platforms allow users to filter, drill, and visualize data in an interactive way. Many leading dashboard platforms also offer emerging AI-driven capabilities that support faster insight discovery. 

As these tools continue to evolve, interactive dashboards are transforming how mortgage servicing teams access data and make decisions. This reporting format is quickly becoming a strategic requirement for transparency, compliance, and agility.

How interactive dashboards replace static mortgage reports

Traditional monthly or quarterly reports require teams to comb through data, export to spreadsheets, and build analyses manually. That process is time-consuming and introduces delays between data generation and action. Interactive dashboards flip that model. Users can filter, drill, export, and analyze instantly within a secure environment.

This shift replaces clunky manual work with real-time data access and enables fast responses to emerging issues. Decisions that once took days or weeks can now occur within minutes or hours.

Why mortgage servicers need real-time dashboard access

It is not just internal stakeholders who benefit. Lenders, servicers, and investors rely on comprehensive and timely reporting from their third-party partners. When this data is delivered through dashboards rather than static reports, users gain the ability to self-serve instead of being dependent on reporting cycles or turnaround times.

That autonomy is vital in today’s servicing environment, where loan-level information, such as delinquency triggers, insurance status, or catastrophe risk, can shift rapidly. Dashboards also help identify emerging risk trends and operational constraints quickly, supporting proactive decision-making during high-impact events. When third-party partners provide interactive, granular access, servicers can act quickly rather than rely on delayed updates that can limit responsiveness and heighten oversight risk.

How dashboards support regulatory transparency and compliance

This need for speed is more than convenience. It reflects broader regulatory and investor expectations. Agency programs like Freddie Mac’s Clarity Data Intelligence, introduced several years ago, have set the tone for transparency expectations. It established centralized access to loan-level credit risk transfer (CRT), mortgage-backed securities (MBS), and performance data, creating a baseline that servicers are expected to match. 

At the same time, regulators are tightening servicer obligations. The Consumer Financial Protection Bureau (CFPB) has proposed amending Regulation X to begin a loss mitigation review cycle as soon as a borrower requests assistance, requiring servicers to communicate decisions promptly and provide procedural safeguards. While the final rule has not been published, the proposal signals a clear expectation for timely communication. Interactive dashboards help meet these expectations by surfacing status updates in real time and reducing bottlenecks.

Data-driven culture: Empowerment speeds actions

Many firms acknowledge the value of BI and analytics. By 2025, over 78 percent of global enterprises had implemented at least one BI platform, and 65 percent of those were cloud-based. Self-service BI adoption grew 31 percent year-over-year. These figures are drawn from a 2024–2026 global analytics report compiling verified BI adoption and market data. 

While these figures reflect broader BI adoption, interactive dashboards are the practical, user-facing layer that turns this data into actionable insights for day-to-day decisions. Industry research shows that 81 percent of banks and insurers name generative AI and analytics among their top technology priorities. This matters because teams with dashboard access spend less time searching for data and more time acting on it. This helps organizations respond faster and make informed decisions with confidence.

Best practices for implementing interactive dashboards

The goal is not simply to deploy dashboards. It is to embed clarity and consistency across processes. 

Dashboards require discipline, including:

• Clear definitions for key metrics
• Automating alerts for exceptions
• Mapping inputs back to source systems
• Ensuring calculation rules are consistent and trusted across all reporting

This discipline turns dashboards into living systems of record rather than polished interfaces with stale or mismatched data.

The next step for servicing leaders

For mortgage servicers already using dashboards, the question is refinement: Is the data timely, consistent, and actionable? Are partners providing data access with similar rigor, or are they still delivering static reports with delayed updates?

For firms considering their first platform, now is the moment to invest strategically. Interactive dashboards are not just a tech trend. They are the infrastructure for fast, confident decision-making internally and across extended servicing ecosystems. Companies that embrace them with discipline will gain operational freedom and build stronger partnerships. Companies that delay will remain stuck in slow cycles and outdated visibility.

Jennah Morgan is Senior Director of Business Technology Strategy at National General Lender Services.
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners. To contact the editor responsible for this piece: zeb@hwmedia.com.

This post was originally published on here. 

America’s workers are clinging to their jobs at a decade-low quit rate of 2%, driven by fear rather than fulfillment, new data shows.

The research from Economist Enterprise surveyed 2,063 full-time employed Americans ages 18 to 62 across industries, including energy, manufacturing, media, financial services and government.

It found that 62% of workers now prioritize long-term job security over seeking new opportunities.

Thirty percent said they’ve stopped looking for new jobs over the past five years because of security concerns — rising t0 35% in financial services and insurance and 34% in manufacturing.

Government workers reported the lowest rate at 23%.

“America’s workers are prioritizing job stability and a strong benefits package, signaling a shift in how workers weigh risk versus reward in today’s competitive labor market,” said Matt Terry, who led the research at Economist Enterprise. “This cautious approach reflects a broader trend; workers are increasingly valuing predictability over advancement, which could have lasting implications for career growth and economic mobility.”

Retirement a moving target

Workers now expect to retire nearly four years later than they had planned.

Among those anticipating working past their ideal retirement age, only 20% cite job satisfaction as the reason. Instead, rising living costs (47%) and health care expenses (41%) — the latter jumping to 50% among low-income workers — drive the delay.

Lower-income workers expect to retire roughly six years later than desired. Even Gen Z, many of whom just entered the workforce full time, anticipate a five-year delay.

Financial services and insurance workers face the longest expected delay at 5.1 years, followed by manufacturing at 4.5 years.

Government workers report the smallest gap at 2.9 years.

Raiding savings and delaying life decisions

About one-third of workers (35%) have taken hardship withdrawals or loans from retirement accounts, with rates highest in financial services and insurance (44%) and manufacturing (41%) and lowest among government workers (23%).

Thirty percent said they have cut back retirement savings, rising to 36% among high-income workers.

Seventy-three percent have postponed buying a home or car — hitting 82% among millennials — while 43% have delayed or skipped medical care, including 51% in manufacturing and financial services.

One in four workers (25%) have postponed having children.

“The data in this report should give every employer pause. When workers feel financially insecure, they delay retirement, and that has real costs – both administrative and financial — for organizations carrying expensive, experienced employees who are ready to move on but don’t believe they can afford to,” said Brendan McCarthy, head of Nuveen Retirement Investing, which supported research in the report.

“Employers have more power to change that than they might realize…At a time when employees are craving stability and certainty, employers can stand out as an employer of choice by delivering a more modern approach to benefits that can help employees navigate key life milestones with more confidence.”

Senior housing wealth dips slightly

Separately, housing wealth among homeowners aged 62 and older declined less than 1% in the fourth quarter of 2025 to $14.62 trillion, according to the latest National Reverse Mortgage Lenders Association (NRMLA)/RiskSpan Reverse Mortgage Market Index.

The 0.83% drop was driven by an approximate $100 billion decrease in home values — partially offset by a $21.8 billion rise in mortgage debt held by older homeowners.

“While we saw a modest dip in housing wealth at the end of 2025, the overall level of home equity among older Americans remains historically strong,” said Steve Irwin, president of NRMLA. “For many retirees, housing wealth continues to be a critical component of financial security and retirement planning.

“Even in a moderating market, reverse mortgages remain a valuable tool to help seniors access that equity and meet their evolving financial needs.”

This article was written by Jonathan Delozier and generated with the assistance of HousingWire Automation. It was reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.

This post was originally published on here.