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Northpointe Bank to shutter its correspondent lending business

Housing Wire

Due to the significant contraction in the overall mortgage industry, we have made the difficult decision to exit the correspondent lending business,” Chuck Williams, president and CEO, said in a statement. Northpointe became an approved seller and servicer for Freddie Mac in 2013, Fannie Mae in 2014 and Ginnie Mae in 2016.

Lending 380
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Agency MBS market is facing a supply-side threat

Housing Wire

Issuance of agency mortgage-backed securities (MBS) is projected to contract significantly over the next two years in the face of a housing-market contraction, but the actual supply of MBS available for purchase in the private market is expected to swell to record levels over that period. trillion and to nearly $9.3

Marketing 379
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OK to average adjusted comps on appraisals?

Appraisal Today

In Sacramento, Invitation Homes went on a rampage in 2012 and 2013, and purchased more steadily in subsequent years. High rates have forced some sellers to lower their asking price to make up for high interest rates on monthly payments. Sellers “had to sell” typically because of a job loss, divorce, or other personal reason. =

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Value of a Pool for Homes?

Appraisal Today

Often, the MLS mentions that the sellers will fill in the pool, but I don’t know if that has ever happened. The sellers originally bought the land for $12 million back in 2010. Shortly after, Oatman Architects was brought on for the construction, which wrapped three years later in 2013. Where I live, very few homes have pools.

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How to Negotiate Repairs After a Home Inspection

Zillow

Most would-be buyers and sellers believe the real estate "deal" is done at the signing of the contract. In many cases, the deal-making and negotiations only start at the contract signing. Ask for a credit for the work to be done The sellers are on their way out. Chances are you may do a better job than the seller, too.

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5 Things to Do Before and After Closing

Zillow

By the time you’ve signed a contract, you have lots of ideas about how you'll live in the home, how you'll customize it and what work needs to be done. While many utility companies have grace periods (the days between when the seller cancels service and the new owner calls), you can’t always assume this will be the case.

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NAR: Appraisal License Equivalency Credit for RE Agents?

Appraisal Today

Counseling buyers, sellers, owners, and tenants on inspections and remediations, improvements, and the appraisal process. Counseling buyers, sellers, owners, and tenants about listing and offering prices, and market rent. Sold 4/1/2013 for $998,000. The average contract interest rate for 5/1 ARMs decreased to 5.48