Morgan Stanley nears $400 million in consumer relief for mortgage bond settlement

Morgan Stanley is nearly finished with its $400 million consumer relief obligation that is part of the $3.2 billion mortgage bond settlement it reached last year. A new report from Eric Green, the independent monitor of the consumer-relief portion of the settlement, shows that Morgan Stanley’s consumer relief total now exceeds $338 million.
Source: HousingWire Magazine

FTC, Realtors warn homebuyers about mortgage closing cost phishing scam

A little over a year ago, the Federal Trade Commission and the National Association of Realtors issued a warning to people interested in buying a home. Scammers were posing as real estate agents, Realtors and title insurance companies to steal consumers’ closing costs. Well, that was last March, but it appears that scammers are still finding new victims to take advantage of.
Source: HousingWire Magazine

Not even housing inventory crisis can stop homebuyers

On the list of factors preventing potential homebuyers from entering the market, you can mark off rising home prices, dwindling inventory and fierce competition, which all seem to have little effect on the increasing demand for homes. In fact, Redfin’s Housing Demand Index hit an all-new high in May.
Source: HousingWire Magazine

Real estate marketing merger: HomeActions buys the Gooder Group

HomeActions, a lead-generation and client relationship platform for real estate professionals, announced this week that it acquired the Gooder Group, a publisher of digital and print lead-generating marketing tools for real estate and mortgage professionals.
Source: HousingWire Magazine

Economic markets lose faith in President Trump

Six months into the new president’s term, markets are beginning to lose faith in his prediction of economic growth. As the administration struggles to pass any of its planned legislation, experts lower their forecast expectations and consumers are less optimistic about the future.
Source: HousingWire Magazine

NAHB: Here’s how the Canadian lumber tariffs add to the current housing shortage

U.S. Secretary of Commerce Wilbur Ross announced another tariff on Canadian lumber this week, and much like the previous one, it does little to solve the actual problem, according to the National Associations of Home Builders. In a follow-up interview with HousingWire, NAHB broke down what the tariffs mean and how its impacts homebuilders and homebuyers negatively.
Source: HousingWire Magazine

American optimism of future economy drops in June

Americans continue to see improvement in their current financial conditions, however, they are less optimistic about the future of the economy. While the Index of Consumer Sentiment came back from its seven-month low in early June, it still decreased from the previous month.
Source: HousingWire Magazine

SoFi begins offering avocado toast with every new mortgage, wins the internet

In case you missed it, SoFi announced recently that it is now offering a one-month supply of avocado toast with each new mortgage in the month of July. We must admit; it’s a pretty funny gimmick and really smart marketing. Here’s why.
Source: HousingWire Magazine

Don't miss out! Nominations for HW Insiders close TODAY!

Hurry! Nominations close today for HW Insiders, an awards program designed to honor the essential players at your company who may not be well known in the wider industry.
Source: HousingWire Magazine

[VIDEO] HUD Secretary Carson hosts Facebook Q&A on homeownership

The U.S. Department of Housing and Urban Development Secretary Ben Carson hosted a Facebook live event in which he held a question and answer session on the value of homeownership and his plans for the department. Carson explained some of the greatest hindrances to homeownership today, and what the government can do about it.
Source: HousingWire Magazine