- InGeniusly Speaking
- Posts
- The Devil's in the Data
The Devil's in the Data
By Jeff Walton & Kelly Guest
Table of Contents
InGeniusly Speaking is back from a spring break respite just after HousingWire outed the lending industry with its new data offering: The Definitive Mortgage Rankings. This is the latest in a series of HW's moves to elevate its brand and own real estate, origination, home building, and all housing market related news. The rankings are fueled by InGenius data and provide transparency that the heretofore self-reported numbers did not. The HW/InGenius partnership shines light on exactly who's doing what - and how much.
CHATTER
Taxes Do Not Care
Taxman Doesn’t Careth: Average Prop Tax Up 3% in 2025
ATTOM’s 2025 Property Tax Analysis shows that $396.8B in property taxes were levied on more than 89.6M single-family homes in 2025, up 3.7% from 2024.
Property taxes continued to climb even as home values dipped slightly. The average tax bill rose 3% to $4,427, while the effective tax rate increased to 0.9%.
Rising tax bills reflect local policy changes and government costs, not just home prices.
Northeast and Midwest homeowners continue to face the highest tax burdens
Western states maintain the lowest effective property tax rates
Interesting Iceberg: Zillow Showcases Beefed Up AI in Platform
For years, the industry has focused on who owns the first click. Zillow is focused on what happens next.
Zillow leaders are describing their new efforts with the platform using the iceberg analogy. What most people see — listings, search results and home details — is just the top. Beneath the surface is a much deeper layer of data and infrastructure: how consumers search and compare over time, what they can afford, tours they schedule, conversations they have and the transactions that follow.
Rebranding DPA: MGIC Suggests Breaking the Narrative
Points and strategy from conversation with Sean Moss, Down Payment Resource, moderates a discussion between lender Mosi Gatling, New American Funding, and real estate agent Shanta Patton-Golar, Patton & Associates (eXp Realty):
Explore DPA with every borrower
Frame DPA as a wealth-building strategy
Collaboration between agents and lenders is a game changer
Pair PMI with DPA for even more affordability
What the HECM?
HECM Competition: FHA Losing Grip on Segment?
From Reverse Market Insight: March bounced back from the short February, rising 16.3% to 2,117 loans, although that remains below every month since August (if we average Oct/Nov due to the shutdown). That continues the theme of weakness in HECM endorsements we touched on last month, and we believe the more competitive and non-FHA reverse mortgage market is the primary contributor.
Mortgages in Minutes? loanDepot Partners with Figure on “5x5 Home Loan”
The 5x5 HomeLoan, which will deliver approval in as little as five minutes and funding in as few as five days, brings real value to those seeking smart, seamless, and convenient solutions to their financing needs.
loanDepot will offer the 5x5 HomeLoan to customers in all 50 states. The product may be used to access home equity, and will be available to refinance an existing mortgage, or to purchase, giving borrowers an option on par with cash purchasing power.
Evil AI
A Maryland vacant land transaction narrowly avoided deepfake fraud when an individual used AI to impersonate the owner during a live video notarization. Proof’s detection software flagged the roughly $100,000 attempt. Deepfake-related scams are rising 40% year over year. Experts recommend identity verification at every transaction step, as fraudsters exploit remote and paper-based channels with off-the-shelf technology.
MOVING & SHAKING
Better added former Fannie CEO Hugh Frater to its board, increased warehouse capacity.
loanDepot expanded its builder partnership model with a new JV with Betenbough to serve West TX.
Atlantic Bay Mortgage named Greg Richardson CRO.
PartnerOne completed its acquisition of Mortgage Cadence, named Michael Detwiler CEO.
Home Run Financing named Ryan Griffin President.
First Sun Capital Bancorp completed their merger with First Foundation Inc., creating a regional bank with $16.4B in assets prior to merger-related adjustments.
Community West completed merger with United Security, creating a central California-based bank with $5B in assets.
Click n' Close named Delores Lopez COO.
NFTYDoor appointed Leo Loomie CRO.
MARKET/INDUSTRY
The Iran deal is the elephant in the room; Bill Bodnar talks about Fed officials' final speeches before the next (and last) Fed Meeting for Jerome Powell and more in his latest Master the Markets segment.
Mortgage Rates Inch Down: Freddie 4-10-26
Mortgage Applications Decreased 0.8% from One Week Earlier: MBA Weekly Survey for the week ending 4-3-26.
Mortgage credit availability increased in March according to the Mortgage Credit Availability Index (MCAI).
Mixed Market Bag: ICE April Mortgage Monitor
The 40-basis-point rise in 30-year rates in recent weeks has reversed some of the affordability gains seen earlier this year, but rates remain roughly 30 bps below where they stood at this time last year
Despite the recent uptick, this is still the most affordable March since 2022
As of 3-25, the monthly principal and interest payment needed to purchase the average-priced home is $2,169 —up $88, or 4%, from February but down nearly $60, or 3%, from a year ago
Housing inventory continues to improve nationally, but the pace is slowing. February's 8% annual increase was the softest such growth in more than two years
The number of homes for sale remains 11% below the 2017-2019 pre-pandemic seasonally adjusted average, an improvement from a 14% deficit six months ago and 19% at this time last year
New listings remain limited, running 16% below the seasonally adjusted 2017-2019 pre-pandemic average in February — a deficit consistent with the past 12 months
62% of homeowners surveyed in the 2026 ICE Borrower Insights Survey say they have no plans to sell anytime soon, up from 55% in 2024
Younger homeowners are more open to selling. 10% of Gen Z respondents plan to list within six months, and 40% are considering a sale within two years
The likelihood of selling declines sharply with age. 33% of Millennials are considering selling within two years, compared with 25% of Gen X and just 13% of Baby Boomers
80% of Baby Boomers say they have no plans to sell, suggesting inventory among older homeowners will remain locked for the foreseeable future
Feb Price Plunges
Sellers Slashing: Record Percentage Reduced Prices in February - Redfin
February home sellers who cut their price lowered it by $41,000, on average, or 7.3%.
More than one-third (34.2%) of February home sellers lowered their list price. That’s up from 31.5% a year earlier and represents the highest February share in records dating back to 2012.
Inconsistent Adjustments: Home Price Growth Varies - Cotality
The current housing market is defined by a sharp divide in performance, both nationally and within specific regions. Areas like Cape Coral, FL, and Austin, TX, are regaining price momentum after a sluggish 2025. Conversely, previous high-growth markets like Allentown, PA, and Albany, NY, are now starting to show signs of cooling.
“These diverse trends indicate an ongoing process of price discovery—one where sales and comparisons remain limited—and underscore a market that is rebalancing locally rather than correcting nationally,” notes Cotality Chief Economist Dr. Selma Hepp.
No to Knowing Neighbors: Revealing Rocket Survey
Nearly 80% of Americans say strong neighborhoods improve their quality of life, but only 1 in 6 actively seek out interactions with their neighbors
Only 3 in 10 Americans know their neighbors
Only 17% of Americans say they intentionally seek out neighborly interactions, yet 68% report receiving support from a neighbor in the past year. The data suggests that while people may not actively pursue connection, they still show up when it matters - 58% say they would turn to a neighbor in an emergency, and 65% feel comfortable offering help.