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Is your real estate database a dumpster fire or lead gen machine?

Housing Wire

This means that when you have 100 people in your database , and they’re hearing from you regularly with something of value, at least 10 of those contacts should either transact with you or refer someone they know who will work with you buying or selling real estate. Do you know how to use your database? You have to use it.

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Opinion: The ripple effect on the U.S. housing market from China’s real estate crisis

Housing Wire

Despite the risks, there are multiple ways events in China could end up benefitting residential real estate in the US. Real estate investors from other countries are also likely to choose the lower risk profile of the US market. This could make raising capital for new construction projects harder, and more expensive, everywhere.

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Why Happy Grasshopper CEO Dan Stewart is so chill

Housing Wire

Dan Stewart: When you think of the technical landscape today, specifically for CRM , at the very core, everything does almost exactly the same thing: It segments contacts and it sends messaging. Today we’re nurturing about 37 million contacts on behalf of our members. That’s not a significant technical challenge.

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How are higher mortgage rates affecting servicing?

Housing Wire

With fewer opportunities to refinance, we are seeing a direct correlation to an increase in mortgage rates and a decrease in payoffs from the number of calls that come into us including options to retain the property due to increases in property taxes and ARM adjustments,” he said. It all starts really with the initial contact.”.

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The month in reverse mortgage rates: March 2024

Housing Wire

Purpose: Primarily used to calculate interest accruals and principal limit growth Calculation: Margin + weekly average 1-year CMT Timing: Lender must use the average in effect 25 days prior to a rate change When note rates rise after closing, borrowers have faster interest accrual and faster principal limit growth.

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How proactive communication can reduce the risk of foreclosure

Housing Wire

Less than two months after a missed mortgage payment, servicers typically contact borrowers to discuss potential options. Computershare Loan Services (CLS) is one of the highest-rated servicers in the US. “Email, IVR, educational videos, and texting have all been very effective for us,” said Logan.

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Flagstar Bank makes big cuts to retail mortgage operation

Housing Wire

“Hundreds of us were told to get on a call this morning at 11:00 AM, and they told us all that they were shutting down the retail division of Flagstar Mortgage,” a former loan advisor told HousingWire. They denied us access immediately after the call, so we could not access our computers or contact information.

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