Streamlining online real estate leads

Real estate technology provider Broker 1 Suite today launched a real estate lead aggregation product to manage multiple leads and lead sources for real estate agents. The millions of home shoppers beginning their home search online has created a growing need in the industry for online lead generation and management tools.  more...

Illinois landlord accused of fair housing violations

The U.S. Department of Housing and Urban Development today reported its sixth action in as many weeks on alleged fair housing violations. HUD today announced it has charged an Illinois apartment complex, Chateau Village Apartments, its management company, Banner Property Management, and property manager Anita Zubor, with violating the Fair Housing Act for refusing to accommodate the request of a woman with a disability to be transferred to a larger apartment that was easier to access.  more...

Technology to zap mortgage application fraud

LexisNexis has entered the real estate fraud technology arena with the launch of RiskWise, a screening technology that helps lenders and brokers verify a home loan applicant's identity.

RiskWise searches multiple databases to verify and validate the authenticity of an applicant's identity and to provide a risk assessment indicator for lenders.  more...

Housing starts fall from August rate

Housing starts and completions dropped from August to September, while building permits were up in that same period, the U.S. Census Bureau and U.S. Department of Housing and Urban Development reported today.

The seasonally adjusted annual rate for privately owned housing starts dipped 6 percent, plus or minus 5.2 percent, from August to September, while the seasonally adjusted annual rate for privately owned housing completions fell 6.2 percent, plus or minus 5.4 percent, since August.  more...

Home mortgage revenue drops for Wells Fargo

Wells Fargo today reported home mortgage revenue was $0.9 billion in the third quarter, a 40 percent decline from $1.5 billion in the third quarter of 2003. That was due primarily to a $93 billion, or 58 percent, decline in mortgage originations driven by the increase in long-term rates from last year's record lows, according to a company statement.  more...

Twin Cities real estate sales begin to slow

Although home sales in Minnesota's Twin Cities region fell 11 percent in September from the same month a year ago, sales for the first three quarters exceeded the same period last year, according to the Saint Paul Area Association of Realtors.

Closed sales for September 2004 totaled 5,256, down 11 percent from the September 2003 figure of 5,908. Median sale price continued to exceed 2003 levels, settling in at $220,000 for September 2004.

Overall, closed sales during the first three quarters were up 3.1 percent at 44,359 compared to 43,020 in the same period of 2003.  more...

Overnight mortgage rates hold steady

Long-term mortgage interest rates were flat Monday, and the benchmark 10-year Treasury bond yield remained at 4.05 percent.

The 30-year fixed-rate average held at 5.3 percent, and the 15-year fixed-rate was unchanged at 4.7 percent. The 1-year adjustable was down at 3.22 percent.

The 30-year Treasury bond yield dipped to 4.84 percent.

Rates are current as of 7:15 p.m. Eastern Standard Time.

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states.  more...