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Wells Fargo announced on Monday that it has expanded its $10,000 down payment grant program for underserved borrowers to an additional 12 metro areas, more than a year after initially launching it in eight markets.  “We are expanding the availability of our Homebuyer Access grant program to additional areas to expand opportunities for low-to-moderate income homebuyers,” Kevin Reen, head of Wells Fargo Home Lending, said in a statement.  Wells Fargo’s Homebuyer Access program is available to borrowers who earn 120% or less of the area median income (AMI). The funds can only be used toward the down payment on a…

Mike DelPrete analyzes that near-monopoly the most prominent portals have in their markets and how that translates into pricing power. This article was shared here with permission from Mike DelPrete for Inman Intel, a data and research arm of Inman offering deep insights and market intelligence on the business of residential real estate and proptech. Subscribe today. Real estate portals occupy strong market positions globally, giving them incredible pricing power. Why it matters: That power equates to ever-increasing prices — as measured by Average Revenue per Advertiser (ARPA) — and is the engine for portal revenue growth around the world. ARPA growth…

The ink is barely dry on Judge Stephen R. Bough’s final approval of the National Association of Realtors’ (NAR) nationwide commission lawsuit settlement agreement, but the ruling is already facing its first appeal. On Wednesday, Nov. 27, one day after Bough held the final approval hearing, an objector and former lead plaintiff in what is now the Moratis commission lawsuit in Pennsylvania — Spring Way Center LLC — filed an appeal with the Eighth Circuit Court of Appeals. On the day of the final approval hearing, the Spring Way objectors who had originally filed their own objection in late October due to…

Photo-Illustration: Curbed; Photos: Getty Images An early omen of what was to come appeared outside Lincoln Center last November: a Cybertruck on display as part of the Baron Investment Conference (a gathering of “like-minded individuals” looking to take their “investment knowledge to the next level,” per the website). By early spring, more Cybertrucks arrived on the streets. At first, spotting one felt novel. “Pretty sweet to see in person,” one person posted to Reddit after finding one parked in the city. Then, kind of ominous. “Why are there so many Cybertrucks everywhere all of a sudden?” a friend texted earlier…

Photo: Beth Sacca for New York Magazine There’s not much in New York that has staying power. Every other day, a new scandal outscandals whatever we were just scandalized by; every few years, a hotter, scarier downtown set emerges; the yoga studio up the block from your apartment that used to be a coffee shop has now become a hybrid drug front and yarn store. Sometimes it’s like living in whatever the opposite of Groundhog Day is, waking up each morning in a new and unfamiliar city. That makes it a little bit easier to spot the things that have…

Movement is constant in the mortgage industry. The pressure to increase loan volume and demand for quality origination talent, especially given fluctuating interest rates, rising business costs, and shrinking profitability, has increased the competition for hiring proven business generators, teams, and branches, and has driven a rise in mergers and acquisitions intended to gain market share while decreasing overhead and consolidating operating costs. This movement of individuals, teams, branches, divisions and even companies occurs against the backdrop of legal issues that—if ignored or mishandled—can quickly undermine any anticipated benefits, particularly given the increasingly narrow margins for error. These issues include…

Mortgage brokerage firms are now under heightened scrutiny from the Consumer Financial Protection Bureau (CFPB). The regulator has recently assembled a team to audit these firms as their market presence has grown to rival regional lenders, HousingWire has learned. The CFPB’s focus is on how brokerage firms comply with loan officer compensation rules, particularly in regard to lender-paid versus borrower-paid options. Additionally, the bureau is evaluating whether brokers effectively shop for the best loan options for borrowers and adhere to fair lending practices.  A key area of concern is steering practices, in which brokers may direct loans to lenders that…

Generating half of her business on Instagram, North Carolina-based agent Emily McAllister focuses on creating local content that provides value to her ideal client groups. Jimmy Burgess sits down with her to find out exactly how she does it. Whether it’s refining your business model, mastering new technologies, or discovering strategies to capitalize on the next market surge, Inman Connect New York will prepare you to take bold steps forward. The Next Chapter is about to begin. Be part of it. Join us and thousands of real estate leaders Jan. 22-24, 2025. Success on social media isn’t just about the number of views. It’s…

Know, like and trust should be watchwords for real estate agents. Coldwell Banker’s Kamini Lane offers insight into developing the trust that matters most to clients and colleagues. Whether it’s refining your business model, mastering new technologies, or discovering strategies to capitalize on the next market surge, Inman Connect New York will prepare you to take bold steps forward. The Next Chapter is about to begin. Be part of it. Join us and thousands of real estate leaders Jan. 22-24, 2025. In many ways, real estate agents are a profession created for trust. Representation. Due diligence. Fiduciary duty.  These are…

Inman Connect is moving from Las Vegas to San Diego in 2025 and it’ll be bigger, better, and bolder than ever before. Join us for Inman Connect San Diego on July 30-Aug. 1, 2025 with the brightest minds in real estate to shape the future of the industry. Reserve your spot today for an exclusive discount. Every Friday, Inman Service Editor Dani Vanderboegh rounds up the most popular, most read, most critical stories of the week to give you a quick catchup on the big headlines you might have missed in the hustle and bustle of the workweek. Here’s this…