Thu.Mar 11, 2021

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Biden signs American Rescue Plan. Here’s what that means

Housing Wire

President Joe Biden signed the American Rescue Plan Thursday, freeing up $1.9 trillion aimed at invigorating the economy following the COVID-19 pandemic. The bill will send $1,400 direct payments to individuals making up to $75,000 annually, and allocates $350 billion in aid to state and local governments and $14 billion for vaccine distribution. Over $50 billion will be distributed to small businesses — including $7 billion for the Paycheck Protection Program — and $25 billion for small and mid

Tenants 545
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Customer Relationship Management: The Holy Grail of Business Success

BiggerPockets

A solid foundation will let your initial efforts work for years. Make sure your customer relationship management is built for success.

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FHFA extends relaxed appraisal, lending standards

Housing Wire

The Federal Housing Finance Agency (FHFA) announced on Thursday that it has again extended relaxed lending and appraisal standards for both Fannie Mae and Freddie Mac. The COVID-19-related flexibilities surrounding alternative verifications of employment and appraisals were originally set to expire on March 31, 2021. However, the government agency is now pushing that back to at least April 30, 2021.

Lending 485
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One Is the Loneliest Number: Owning a Sole Proprietorship With Your Spouse

BiggerPockets

Despite the name, a married couple can own a sole proprietorship together—as long as they follow a few rules. Learn more here.

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Who’s the customer in UWM’s wholesaler war?

Housing Wire

I’ve spent years asking top mortgage lending execs this question: who’s your primary customer, loan officers or consumers? Most answer LOs because most industry market share is still LO-driven. But let’s go deeper to see if this answer holds up for execs and LOs over full market cycles. And let’s frame it in the context of today’s top wholesaler asking LOs to limit the options they have for consumer clients.

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Improving the Appraisal Process With Candy Cooke

National Association of Realtors

The appraisal process remains a challenge for real estate agents across the country. Learn some of the best ways to work with appraisers to make more deals.

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BiggerPockets Money Podcast 178: Finance Friday: From $33k in Debt to $100k+ in Net Worth Through House Hacking & Smart Saving with Budget Girl

BiggerPockets

Last time we talked to Sarah, AKA Budget Girl, she was on Episode 6 of the Money Show. If you haven’t listened to that episode, here’s a quick recap. Sarah […].

Finance 36
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Finance of America unveils hybrid reverse mortgage product

Housing Wire

Finance of America Reverse will soon debut a hybrid product that combines elements of a reverse mortgage with a forward mortgage. The lender says it’s an innovative approach to servicing borrowers who are in retirement age but don’t qualify or wish to refinance into a long-term mortgage. The new product, called EquityAvail, funds at closing and requires that the borrower make payments for 10 years but at a reduced amount, Finance of America Reverse said this week. “A lot of peo

Finance 397
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How Will Amazon’s Affordable Housing Pledge Affect Real Estate?

BiggerPockets

Amazon has pledged $2 billion toward affordable housing initiatives. Will it make a difference? How will it affect real estate investors? Find out here.

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HomeSmart snares prominent Atlanta brokerage

Housing Wire

Growing real estate brokerage firm HomeSmart announced Wednesday that it bought PalmerHouse Properties , an Atlanta-headquartered brokerage that has about 2,000 agents. Reached Thursday, HomeSmart President Ashley Bowers declined to say what the company paid for PalmerHouse. PalmerHouse racked up $3.1 billion in 2020 sales volume from 9,904 transaction sides, and it ranks as a “top 10 brokerage in the Atlanta area,” according to data provided by HomeSmart.

Brokerage 338
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Cash-Paying Out-of-Towners Frustrate Local Fla. Buyers

Empire Appraisal Group

Cash-Paying Out-of-Towners Frustrate Local Fla. Buyers. Source: Cash-Paying Out-of-Towners Frustrate Local Fla. Buyers | Florida Realtors. By David Lyons. Brokers are getting more calls from out-of-staters, and the demand isn’t limited to Fla.’s traditional feeder markets. It adds yet another challenge for local buyers. FORT LAUDERDALE, Fla. – As homebuyers jostle for a dwindling supply of houses in South Florida, local bidders are finding themselves in a growing competition with out-of-state pe

Buyers 78
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Boosting Mortgage Profits in a Remote Environment – Sponsored by Capacity

Housing Wire

Discover how mortgage companies are boosting profits by adopting a mortgage automation platform. David Karandish, CEO of Capacity , will explain how a mortgage automation platform can automate borrower education, lead routing, guideline access, loan status updates, and servicing. He will also review the benefits of intelligent document processing. Watch the full session below.

Mortgage 297
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Finding a Builder for Your Accessory Dwelling Unit

Eppraisal

Answering a growing need in the realm of affordable housing, accessory dwelling units (ADUs) are enjoying increasing favor with state legislatures as well as county and local planning boards. They offer downsized quarters for seniors; professional workspace for the self-employed; and rental income for financially burdened home owners. These detached cottage-like structures ordinarily share a parcel with a single-family residence, offering additional rooms and accommodations, hence the term "acce

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Put the ROI in HEROIC lead management – Sponsored by CreditXpert

Housing Wire

The presenters will discuss the importance of early lead management, with the emphasis on converting these leads into your loan pipeline. Matt Hydrew of CreditXpert and Todd Worthington of Bank of England will discuss the main causes of early lead fall-out and the impact credit scores have during this phase. Learn how decreasing early lead fall-out by 30% is possible this year by making process changes now and employing credit optimization technologies that can help your teams work more effectiv

Clients 265
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Economic Outlook

Housing Wire

Bringing together some of the top economists in the housing finance industry, this economic outlook panel shares the trends attendees need to be paying attention to. During the session, they breakdown their economic forecasts for the rest of this year. Watch the full session below. To go back to the full HousingWire Spring Summit 2021 on-demand summit, go here.

Finance 245
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What Mortgage Tech is Solving Now

Housing Wire

Pandemic conditions have provided fertile ground for mortgage tech innovation. Find out which technology is now considered table stakes to keep your business efficient and growing, and what’s coming next. Watch full session below. To go back to the full HousingWire Spring Summit 2021 on-demand summit, go here. Panelists: Lisa Kimball, SVP, Product & Strategic Programs, Finicity Nikolas Pavlou, Product Marketing Manager, Blend Jamie Kump, Director of High Growth Accounts, Qualia Sarah Wheeler

Mortgage 264
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What a 2-year study reveals about what borrower retention really means to your business – Sponsored by Sales Boomerang

Housing Wire

For every 5 customers you acquire, 4 will get their next loan with another lender. To protect your book of business, you need a 360-degree, real-time view of your customers’ changing circumstances, so you can identify opportunities the moment they arise. This can’t-miss session will equip you with a borrower retention game plan designed to ensure every borrower has the right loan, right now.

Business 234
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Headliner: One on One with Mat Ishbia

Housing Wire

During this Spring Summit session, UWM CEO Mat Ishbia sits down for a one-on-one interview with HousingWire CEO Clayton Collins to discuss UWM’s strategy for this purchase market. However, as Ishbia had just announced that UWM would no longer partner with mortgage brokers who also work with Rocket Mortgage or Fairway , this discussion became a broader conversation about the lenders’ overall strategy to grow broker share.

Mortgage 211
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What is the end goal of tech disruption?

Housing Wire

Innovators have made self-driving cars a reality, and yet finding a tech solution that prioritizes anyone beyond the perfect borrower is hard to find? This striking contrast between what is possible with tech disruption and innovation and what is actually happening is something Catalina Kaiyoorawongs, co-founder and CEO of LoanSense, brings up several times, as she describes the state of tech disruption in the housing industry. .

Lending 203
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Operational Strategies in the Current Market

Housing Wire

The roller-coaster of 2020 required lenders to be extremely adaptable to changing conditions, and this year is proving no different. This panel features strategy leaders who share what they’re doing to proactively set their business up for success in a rapidly changing environment. Watch the full session below. To go back to the full HousingWire Spring Summit 2021 on-demand summit, go here.

Marketing 196
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The Brave New World of Valuations – Sponsored by Reggora

Housing Wire

Over the past decade, the mortgage industry has benefited from a revolution of digital experiences. Despite this, not all aspects of the real estate industry have progressed equally into the digital age — including the appraisal process. This session will unpack the current challenges facing residential valuation, changes spurred by Covid-19, and the vision for moving to a risk-based approach to valuation.

Valuation 177
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Mortgage Disruption Outlook

Housing Wire

Even in the midst of a banner year, originators have to keep one eye on the technologies and competitors that could upend even the most carefully crafted business strategy. This panel will explore blockchain, where automation could be most disruptive (in good and bad ways) and the big consumer players adopting mortgage in a serious way. Watch the full session below.

Mortgage 164
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Servicing Challenges in a Pandemic Period

Housing Wire

With millions of homeowners taking advantage of mortgage forbearance options over the last year, servicers have stepped up to make sure borrowers are being served the complexities of servicers have scaled staff and operations to make sure borrowers are being served appropriately. This panel examines where we are in workouts and what to expect for the rest of 2021.

Mortgage 162
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CFPB vows to protect LGBTQ borrowers under ECOA

Housing Wire

The Consumer Financial Protection Bureau (CFPB) announced Tuesday it will be watching out for any potential lending discrimination based on sexual orientation or gender identity, vowing to protect LGBTQ borrowers. The CFPB issued an interpretive rule that said the Equal Credit Opportunity Act, which outlaws discrimination in lending and credit decisions, includes protection against discrimination due to sex-based and gender-based stereotypes against the LGBTQ community.

Lending 413
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A New Regulatory Regime

Housing Wire

The regulatory landscape has shifted quickly under President Biden. To discuss just what that means for those in the housing economy, along with the upcoming regulatory regime, Kris Kully, a partner at Mayer Brown , and David Stevens, the former CEO of the Mortgage Bankers Association , join this session. Stevens has served as senior vice president of single family at Freddie Mac , executive vice president at Wells Fargo Home Mortgage , president and COO of the Long and Foster Realty Companies ,

Legal 271