A stagnant housing market hasn’t held back Zillow’s mortgage business. On its third-quarter earnings call Wednesday evening, the real estate portal giant reported that its mortgage revenue rose 63% year over year, driven by an 80% jump in purchase origination volume. Compared to the first nine months of 2023, Zillow’s origination channel revenue grew 41%…
"November 2024" Archives
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Donald Trump has won the 2024 presidential election and will become the 47th President of the United States. But what could a change in administration mean for the real estate industry that is keeping a close eye on Nov. 26, when the National Association of Realtors’ (NAR) commission lawsuit settlement agreement is slated for a final approval…
Fair Isaac Corp. (FICO), the company that retains the rights to the market’s widely adopted consumer credit-risk assessment methodology, announced on Wednesday that it has increased its wholesale royalty from $3.50 to $4.95 per score for mortgage originators. “At this new per-score royalty, the amount collected by FICO will remain a small percentage of the…
There is likely to be a “modest” amount of excess home supply driven by demographic changes as older homeowners move out of their homes or die. But the aging U.S. population is not expected to be an outright source of change to home-price projections over the next 10 years, according to a newly updated report…