Housing Wire

FEBRUARY 16, 2022

HousingWire recently sat down with Steve Meirink, executive vice president and general manager, Compliance Solutions, Wolters Kluwer’s Governance, Risk and Compliance Division, to discuss the impact of digital technology on mortgage and the future of digital lending in an era of accelerated innovation and digital transformation.

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Housing Wire

NOVEMBER 16, 2023

billion in damages to residential home sellers who successfully proved that the organization – which represents real estate agents at most of the top brokerages in the United States – colluded with other defendants to inflate agent commissions. Unless the decision is appealed, NAR will have to pay at least $1.8

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Housing Wire

OCTOBER 16, 2023

Here are the following strategies agents can use to guide first-time homebuyers toward achieving this monumental step. This approach is negotiated in the contract; it’s a seller concession to the buyer for a set amount. I’ll explain later.) Rate buy-downs are another option I recommend in this market.

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Agents Buyers Sellers Inventory 383

Housing Wire

FEBRUARY 16, 2024

As an example, the DOJ cites Northwest MLS (NWMLS), which no longer requires listing agents to make offers of buyer broker compensation in order to list a property. Despite this being allowed, the practice of cooperative compensation continues and agent commissions have not changed. Originally filed in 2020 in U.S.

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Sellers Buyers Real Estate Contracts 422

JMV Lending

JANUARY 15, 2021

APPRAISALS COMING IN UNDER CONTRACT PRICE B/C MARKET’S SO HOT We are seeing appraisals come in under contract price more frequently than normal again b/c the market is so hot and buyers are bidding so aggressively. This is not b/c our appraisers are not trying to support contract price; it is b/c appraisers simply lack […].

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Agents Appraisal Contracts Lending 127

The Robert Weiler Company

JANUARY 2, 2021

Are you familiar with a land contract in Ohio, as well as the state-specific requirements? What is a land contract in Ohio, really? Essentially, a land contract is an alternative financing option if you’re investing in: Farmland or raw land. So, what is a land contract agreement, and how does it work? A home or condo.

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Contracts Tenants Legal Sellers 143

JMV Lending

MAY 16, 2024

Whenever an appraisal comes in under contract price, we work quickly to consider all options with both agents and buyers, and we can usually resolve appraisal issues within a day if everyone is responsive. The post Low Appraisals – 6 Options When Appraisals Come In Low appeared first on JVM Lending.

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Appraisal Contracts Lending Agents 78

JMV Lending

OCTOBER 4, 2021

AGENTS WERE LIVID WHEN APPRAISAL CAME IN LOW We recently had an appraisal come in $25,000 under contract price – and the agents were irate! The post Appraisers Can’t Ignore “Bad” Comparable Sales; Agents Shouldn’t Either appeared first on JVM Lending.

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Agents Appraisal Contracts Lending 78

Raleigh Realty

MARCH 26, 2022

What Is A Buyer's Agent? What is a Buyer's Agent in Real Estate and do I need one when buying a home? We have all that answered and more If you are wondering if you should use a Buyer's Agent the answer is easy, yes. At Raleigh Realty we have some of the best Buyer Agents and Realtors on our team.

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Real Estate Buyers Agents Contracts 148

Birmingham Appraisal

FEBRUARY 20, 2024

Appraiser and Agent Collaboration is a Good Thing The importance of collaboration between real estate agents and appraisers can be a touchy subject. On one hand, the real estate agent’s main goal is to advocate for their client while the appraiser must be an impartial and non-biased third party.

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Agents Appraisal Real Estate Agent Bracketing 89

Birmingham Appraisal

AUGUST 23, 2023

How Can Appraisers and Agents Work Together? In the often chaotic world of real estate, the appraiser-agent relationship can contribute to a smoother process. There are many areas that appraisers and agents can inform and educate one another so that each of their jobs is done more successfully.

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Agents Appraisal Valuation Appraisal Process 85

JMV Lending

JANUARY 20, 2021

Whenever an appraisal comes in under contract price, we work quickly to consider all options with both agents and buyers, and we can usually resolve appraisal issues within a day if everyone is responsive. Below are five of the options available when an appraisal comes in under contract price. Rebut the appraisal.

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Appraisal Contracts Lending Agents 148

Housing Wire

JULY 25, 2023

What does the top-producing lending officer (LO) in the country have to say to other mortgage lenders? HousingWire: What do lending executives need to understand when it comes to supporting top producers? My customer is the real estate agent. Mindset is everything. Weaver is the No. 1 LO in the U.S. I know who my customer is.

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Real Estate Agent Mortgage Real Estate Training 248

Housing Wire

SEPTEMBER 20, 2021

Appraisals in Black and Latino neighborhoods are more likely to fall short of the contracted sale price, a Freddie Mac study of 12 million appraisals found. While only 7% of appraisals undershoot the contracted sale price in census tracts where at least half the population is white, that percentage is much higher in minority tracts.

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Appraisal Contracts Valuation Buyers 439

Birmingham Appraisal

JUNE 13, 2023

Appraisal Tips For Real Estate Agents As a real estate appraiser with over 30 years of experience, I have seen many changes and challenges in the appraisal profession and the real estate market. I have also worked with hundreds of real estate agents, some of whom have a good understanding of the appraisal process and some who don’t.

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Real Estate Agent Real Estate Agents Reconsideration of Value 81

Housing Wire

JULY 19, 2022

Freddie Mac and Fannie Mae give [lenders] a little bump on their origination fee to encourage small-dollar lending,” said Loftin. Loftin also suggested a subsidy for real estate agents, because “they can’t make a living selling $40,000 homes.” It’s an acknowledgement that you’re making less on a small-dollar loan.”.

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Mortgage Finance Lending Development 374

Housing Wire

MARCH 6, 2024

Although inventory levels remained low, listings increased by modest to significant margins around the First District in recent months, lending increased optimism for sales moving forward. Most expect their pipeline of contracts to keep construction busy through the year. San Francisco: Real estate activity rose slightly overall.

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Mortgage Real Estate Inventory Construction 346

Housing Wire

MARCH 28, 2024

In fact, if you were to describe the home-buying experience solely upon the things we see in advertisements, the home-buying process would end with the sales contract, and all parties would merrily proceed directly to the handing over of the keys. It doesn’t lend itself to a 24-hour cycle. But there’s also room for improvement.

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HOA Property Management Real Estate Agent Technology 408

Realtor

NOVEMBER 1, 2023

Here’s a brief look at the VA loan process to help both veteran homebuyers and their real estate agents better navigate how to cross the finish line. It also shows home sellers and listing agents that you’re a strong home-buying candidate. Getting under contract Signing a contract to purchase a home comes next.

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Real Estate Agent Contracts Finance Real Estate 127

Housing Wire

APRIL 21, 2022

But Carrie Gusmus , President and CEO of Aslan Home Lending Corporation, has a more positive outlook despite the current headwinds. Homebuyers may feel the pinch of the higher payment based on the higher rate, but they may also be more successful at getting a home under contract and closed.”. I’m located in Colorado.

Mortgage 365

Mortgage Contracts Technology Lending 365

Housing Wire

NOVEMBER 17, 2022

HousingWire recently spoke with John Keratsis, president and CEO of Deephaven Mortgage, about what lenders should be doing to capitalize on the boom in non-QM lending and why our preconceived notions about non-QM could be all wrong. Another reason to get into non-QM lending at this very moment is diversification.

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Lending Investors Real Estate Agent Loan Officers 299

Housing Wire

MAY 31, 2022

increase year over year for properties under contract, indicating that demand in the city remains strong,” said Elizabeth Anne Stribling-Kivlan, Compass’ senior managing director. Mortgage lender Planet Home Lending has a new team in Portland, Oregon, where it will focus on borrowers looking to work with homebuilders.

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Mortgage Construction Lending Real Estate 382

Cleveland Appraisal Blog

MARCH 30, 2021

Within the past couple of weeks, I have appraised several properties for purchases, where my opinion of the market value of these homes was significantly below the contract price. When an appraiser’s opinion of value is below the contract price, that’s when the carping begins. Good agents know this.

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Housing Market Marketing Reconsideration of Value Contracts 367

Housing Wire

NOVEMBER 22, 2023

In fact, if you were to describe the home buying experience solely upon the things we see in advertisements, the process would end with the sales contract and all parties would merrily proceed directly to the handing over of the keys. It doesn’t lend itself to a 24-hour cycle. There’s an entire industry built upon the “What’s next?”

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HOA Real Estate Agent Technology Real Estate 395

Housing Wire

JUNE 14, 2022

Redfin is rare in that it has salaried real estate agents as opposed to independent contractors. Compass, which lured top-performing agents with high commission splits and large signing bonuses, has struggled to contain costs. How can brokers get ahead in a tight market? Presented by: Change Wholesale.

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Marketing Real Estate Real Estate Agent Brokerage 368

Housing Wire

FEBRUARY 9, 2021

Specifically, they want to be sure it’s worth the money they’re lending you and, most importantly, that they’ll recoup their investment if you default on the loan. Your real estate agent can help if you decide to go this route. If you had an appraisal contingency in your sales contract, you could do this without any sort of penalty.

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Appraisal Real Estate Agent Sellers Real Estate 450

Housing Wire

DECEMBER 21, 2023

The VA makes a guarantee to the lending institution for 25% of the loan amount and the lender is responsible for evaluating the eligibility of the borrower. The VA approves and contracts with local appraisal professionals to ensure a seamless process. David Smith is the VP of National VA Lending at loanDepot.

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Mortgage Renovations Appraisal Process Finance 426

JMV Lending

APRIL 2, 2021

APPRAISAL COMES IN LOW We had an appraisal come in slightly under contract price this week. So, when the appraisal came in low, both agents, the seller […]. The post Appraisers Can’t Push Values; Must Avoid Reviews/Cuts appeared first on JVM Lending.

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Appraisal Contracts Lending Sellers 97

McKissock

APRIL 20, 2021

Becoming a real estate agent requires a giant leap of faith and an investment of time and money. That’s why some agents may choose to test the waters with a part-time real estate position while hanging onto a steady income from another job. FREE Guide : Learn how to earn more with our Real Estate Agent Income Guide.

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Real Estate Agent Real Estate Agents Realtors 98

Housing Wire

APRIL 13, 2021

Rapidly accelerating home prices come with a variety of challenges for lenders and real estate agents, including one of the biggest pain points right now — the appraisal gap. Real estate agents and lenders are working together to try to get buyers into houses. In fact, Austin has just about 1.2 months of supply, and has seen a 19.7%

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Housing Market Buyers Marketing Real Estate Agent 532

Housing Wire

NOVEMBER 3, 2023

But, there are steps that both brokers and agents can take to minimize the damage of a worst-case scenario. billion in commissions they paid to buyers’ agents in the past eight years. Will they still use a buyers’ agent to find a house? “All our our consumer research points to yes,” says Murray.

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Real Estate Brokerage Buyers Property Management 291

Housing Wire

FEBRUARY 25, 2022

The Pontiac-based wholesale lender filed two lawsuits on Wednesday in Michigan federal court accusing broker partners of breach of contract for originating mortgages to its competitors. A warranty in the addendum said that if brokers submitted loans to Rocket or Fairway, it would constitute a breach of contract.

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Contracts Brokerage Investing Mortgage 367

Housing Wire

JULY 14, 2021

“That return to the office, along with soaring prices and tighter lending standards for second homes, is shifting homebuyer demand in favor of primary residences. ” Agents began reporting bidding wars for luxury and vacation homes as early as last summer.

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Home Value Contracts Lending Mortgage 433

Housing Wire

DECEMBER 6, 2021

In the next five-to-10 years, Doma CEO Max Simkoff wants to make it possible for a homebuyer to sign a contract on their new home on a Friday evening and move in on a Monday morning. Qualia CEO Nate Baker. That is the end goal and what prevents that today is so much of the process being analog and manual,” Simkoff said.

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Modernization Real Estate Agent Insurance Real Estate 380

Housing Wire

FEBRUARY 7, 2023

The mortgage company is also educating agents in its real estate division, Vylla Home , about the details of the program so that they can work with prospective buyers and sellers. In a June 2022 letter, nonbank trade group Community Home Lending Association suggested increasing the lender fee to 2%, plus a $500 underwriting fee.

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Mortgage Loan Officers Government Buyers 362

Appraisal Buzz

MAY 17, 2021

As appraisers, we faced tremendous pressure from buyers, sellers, real estate agents, and loan officers during the previous run-up. Almost daily, there is some story on social media about being “turned in” to the state by a disgruntled agent, buyer, or seller for appraising a property below the contract price.

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Appraisal Clients Real Estate Sellers 418

Housing Wire

MARCH 7, 2022

It also gives real estate agents ideas. Absolutely, I will offer an NFT option to sellers within the next year,” said Richard Hopen, a Compass agent in Short Hills, New Jersey. NFTs in real estate are, for the moment, a grossly impractical novelty act that, publicity aside, offer tenuous benefits to agents.

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Real Estate Law Inspection Agents 455