DIFS Issues Summary Suspensions Against Two Title Agencies
July 27 2025 | |
The Michigan Department of Insurance and Financial Services has issued Summary Suspensions against Peak Title of Michigan Inc. and Peak Title Agency Co., two Michigan based title insurance agencies. The agencies are alleged to have violated provisions of the Michigan Insurance Code by engaging in practices that pose a risk of financial loss and serious negative consequences for consumers.
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National Association of REALTORS® Appoints Vice President of Legal Affairs and Brand Protection
July 25 2025 | |
The National Association of REALTORS® (NAR) today announced the appointment of Leslie Nettleford-Freeman as its Associate General Counsel, Vice President of Legal Affairs and Brand Protection, a new position on NAR's Legal Team. A nationally recognized trademark protection expert and seasoned legal executive, Nettleford-Freeman brings over two decades of experience in intellectual property, brand enforcement, and strategic legal leadership to the role.
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New Home Sales Hold Steady at a Relatively Tepid Level
July 24 2025 | |
“New home sales remained flat last month, highlighting persistent weakness in the housing market despite seasonal expectations for growth,” said Buddy Hughes, chairman of the National Association of Home Builders (NAHB). “Elevated mortgage rates and sustained price levels continue to limit purchasing power, particularly among first-time and middle-income buyers.”
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NAR Existing-Home Sales Report Shows 2.7% Decrease in June
July 23 2025 | |
"Multiple years of undersupply are driving the record high home price. Home construction continues to lag population growth. This is holding back first-time home buyers from entering the market. More supply is needed to increase the share of first-time homebuyers in the coming years even though some markets appear to have a temporary oversupply at the moment."
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NAR Supports Administration's AI Plan, Highlighting Housing Supply Potential
July 23 2025 | |
"We applaud the administration's release of Winning the AI Race: America's AI Action Plan, which reinforces the U.S. as a global leader in this transformative technology," said Shannon McGahn, NAR's executive vice president and chief advocacy officer. "It's especially encouraging to see real estate infrastructure recognized as a cornerstone of America's future."
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Mortgage Applications Increase in Latest MBA Weekly Survey
July 23 2025 | |
“The 30-year fixed mortgage rate edged higher last week to its highest level in four weeks at 6.84 percent, while rates for other loan types were mixed. Purchase applications finished the week higher, driven by conventional purchase loans, and continue to run ahead of last year’s pace,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist.
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DIFS Issues Summary Suspensions Against Two Title Agencies
July 21 2025 | |
The Michigan Department of Insurance and Financial Services has issued Summary Suspensions against Peak Title of Michigan Inc. and Peak Title Agency Co., two Michigan based title insurance agencies. The agencies are alleged to have violated provisions of the Michigan Insurance Code by engaging in practices that pose a risk of financial loss and serious negative consequences for consumers.
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June New Home Purchase Mortgage Applications Increased 8.5 Percent
July 17 2025 | |
“Applications to purchase new homes fell in June, consistent with typical seasonal patterns, but remained ahead of last year’s pace,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “A cloudier economic outlook and elevated mortgage rates continues to weigh on potential buyers, while growing inventory, builder incentives, and lower prices have brought some buyers back to the market."
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Builder Confidence Edges Up in July
July 17 2025 | |
“The passage of the One Big Beautiful Bill Act provided a number of important wins for households, home builders and small businesses,” said NAHB Chairman Buddy Hughes, a home builder and developer from Lexington, N.C. “While this new law should provide economic momentum after a disappointing spring, the housing sector has weakened in 2025 due to poor affordability conditions, particularly from elevated interest rates.”
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Mortgage Applications Decrease in Latest MBA Weekly Survey
July 16 2025 | |
“Treasury yields finished higher last week on average despite an intra-week drop, driven partly by renewed concerns of the impact of tariffs on the economy. As a result, mortgage rates rose after two weeks of declines, which contributed to slower application activity,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist.
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Joint Trades Press Statement on FHFA Announcement on Credit Scores
July 11 2025 | |
"FHFA Director Pulte’s July 8 directive to the GSEs to adopt a modernized credit score, VantageScore 4.0, was a promising first step to our shared goal of a more efficient, more transparent, and more competitive credit scoring system that serves as many creditworthy Americans as possible."
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Title Resources Group Appoints Michael Campbell as Underwriting Counsel for Michigan
July 10 2025 | |
"Michael's diverse title agency and underwriting background in high-volume and boutique shops gives him the broad experience needed to solve title problems our agents encounter," said Mickey Godat, TRG's Chief Underwriting Counsel. "Whether that's a multi-state, multi-site commercial transaction or the routine closing on a small residential lot, Michael brings creativity born from getting deals done."
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Remodeling Market Sentiment Dips in Second Quarter
July 10 2025 | |
“Most remodelers continue to express positive sentiment, but some, especially in the western part of the country, are seeing a slowing of activity in their markets,” said NAHB Remodelers Chair Nicole Goolsby Morrison, a remodeler from Raleigh, N.C. “Those who report a slowdown have cited economic uncertainty stemming from government policies as the main reason."
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NAR Applauds FHFA Move to Expand Credit Scoring Models for Mortgage Underwriting
July 09 2025 | |
"The National Association of Realtors® has long called for modernizing the credit scoring system to better reflect how today's consumers manage their finances. We applaud the announcement from FHFA Director Bill Pulte that the GSEs will soon begin accepting VantageScore in addition to other credit scoring models.
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Mortgage Applications Increase in Latest MBA Weekly Survey
July 09 2025 | |
“Mortgage rates moved lower last week, with the 30-year fixed rate decreasing to 6.77 percent, its lowest level in three months. After adjusting for the July 4th holiday, purchase applications increased to the highest level of activity since February 2023 and remained above year-ago levels,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “Homebuyer demand is being fueled by increasing housing inventory and moderating home-price growth."
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MISMO Updates Fee Naming Guide
July 08 2025 | |
“MISMO developed this guide to promote the uniform usage of fee names and descriptions for the purpose of creating consistency across the industry and to facilitate efforts to comply with regulations,” said MISMO Acting President Rick Hill. “These efficiencies ultimately reduce costs and save time for all parties involved.”
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Title Resources Group Announces Executive Management Transition
July 03 2025 | |
Title Resources Group (TRG), the nation's fifth largest title insurance underwriter, announced today the appointment of 30-year industry veteran Kevin Wallas Chief Executive Officer and member of the Board of Directors. Concurrently, J.Scott McCall, the company's current Chief Executive Officer, will assume the position of Vice Chairman of the Board of Directors. Both executive leadership changes will be effective as of July 28, 2025.
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NAR Secures Major Wins for Real Estate in Landmark Tax Reform Bill
July 03 2025 | |
“For months, REALTORS® across America have been at the forefront of tax reform, making sure Congress understood that homeownership is not only the cornerstone of the American Dream but a foundation for building wealth and strengthening communities,” said Shannon McGahn, NAR’s executive vice president and chief advocacy officer. “We delivered that message backed by original research, trusted polling data, and the real-world expertise of more than a million REALTORS® living and working in every ZIP code in America.”
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Mortgage Applications Increase in Latest MBA Weekly Survey
July 02 2025 | |
“Mortgage rates were lower across all loan types last week, with the 30-year fixed rate declining to its lowest level since April at 6.79 percent. This decline prompted an increase in refinance applications, driven by a 10 percent increase in conventional applications and a 22 percent increase in VA refinance applications,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “As borrowers with larger loans tend to be more sensitive to rate changes, the average loan size for a refinance application increased to $313,700 after averaging less than $300,000 for the past six weeks."
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Rocket Companies Completes Acquisition of Redfin
July 01 2025 | |
The companies also today introduced Rocket Preferred Pricing. Clients who finance their home through Rocket Mortgage and buy a home listed by a Redfin agent or purchase with the help of a Redfin agent will have a one percentage point reduction in their interest rate for the first year of their loan or receive a lender credit at closing, up to$6,000.
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