Tue.Feb 16, 2021

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How to survive this “unprecedented” era of digital mortgage

Housing Wire

Writing about digital mortgage in 2021, I am reminded of a cartoon in the New Yorker, in which two cavemen were starting a fire and one said “Stop saying everything is ‘unprecedented.’” After a year of unprecedented everything, including mortgage volume, it’s hard to fathom the level of fintech disruption that is approaching financial services and specifically mortgage.

Mortgage 532
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Finding a Dream Home: Categorizing Your Buyer

McKissock

Every homebuyer is different, just as every home buying experience is different. Each of your clients will have their own set of likes and dislikes. As a real estate professional, you should know how to tailor your approaches and strategies to suit your client’s wishes. Categorizing your client based on their motivations for buying is one of the best ways to help them find their dream home.

Buyers 94
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Western Alliance to acquire AmeriHome for $1B

Housing Wire

Depository bank Western Alliance has reached a deal to acquire correspondent lender AmeriHome for $1 billion in cash, the firms announced late Tuesday afternoon. With the acquisition, Western Alliance will grab full control of America’s third-largest correspondent lender from an affiliate of financial giant Apollo Global. AmeriHome purchased approximately $65 billion in conventional conforming and government-insured originations in 2020.

Retail 474
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Texas Weather Emergency

DW Slater Company

Our offices are currently closed as we are experiencing a Texas weather emergency. The power grid in Texas was not prepared for the cold weather we have been experiencing. Our office has been without power since yesterday, (Monday) 6:30 am. Temperatures dropped to – 6 degrees last night. There are outages as well as rolling outages. Road conditions are treacherous and we have more snow forecasted for tonight and tomorrow.

Clients 78
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Keller Williams hails 16% jump in sales volume

Housing Wire

Keller Williams sold more homes – and sold more expensive homes – in 2020, according to the brokerage’s self-reported numbers released Tuesday. The Austin, Texas-headquartered real estate brokerage closed 1.22 million home sales in the U.S. and Canada in 2020, up 8 percent from 2019. Keller Williams also claimed $407 billion in 2020 sales volume in Canada and the U.S., up 16 percent from the previous year.

Brokerage 417
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Do Your Due Diligence Before Digging Up Dirt: Investing in Vacant Land 101

BiggerPockets

Is buying land a good investment? Purchasing vacant land may not be right for every investor or every situation. How can you know this is the right move for you? We outline the pros and cons—and tell you what key questions to ask.

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Rookie Podcast 53: Turning 9-to-5 Burnout into 24 Doors (in a Year and a Half!) with Kristie LeSage

BiggerPockets

Kristie LeSage didn’t mind her 9-5 much before she went on a hiking trip to Yosemite. When she turned her phone off for a few days, hung out with friends, […].

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What’s behind Arizona’s housing market demand?

Housing Wire

This HousingWire Daily interview transcription features an interview with Caliber Home Loans ’ Brandon Bialkowski and Vanessa Accra. In this episode, the loan consultants discuss Arizona’s hot housing market , which is experiencing a significant uptick in homebuyer migration. Listen to the full episode here and make sure to subscribe to the podcast on iTunes.

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Mortgage Interest Rates Unchanged Two Straight Weeks

Buys Brokers Only LLC

Mortgage interest rates in the U.S. remained unchanged for the second consecutive week, for the week ending February 11, 2021, according to Freddie Mac's weekly Primary Mortgage Market Survey.

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A closer look at Ginnie Mae’s latest digital efforts

Housing Wire

This HousingWire Daily interview transcription features an interview with with Angel Hernandez, Ginnie Mae director of MBS policy and program development. Ginnie Mae recently began accepting eNotes and even guaranteed its first digital pool of mortgage backed securities, which was made possible by its ongoing Digital Collateral Program. This new focus on digital at Ginnie Mae could provide significant benefits for the housing market.

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The Last Round of Stimulus Helped Renters—But Did It Help Them Enough?

BiggerPockets

The latest round of stimulus provided much-needed relief for struggling families and businesses and bought renters time, but for how long?

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Why choosing the right non-QM lender matters

Housing Wire

Does it matter which non-QM lender you go with? Oh yes it does. You’ve made the decision to learn more about non-QM because you understand more borrowers need it today to qualify for a loan. Now what? Chances are you’ve read a lot about non-QM in mortgage industry news, seen catchy ads, and your phone plus email have been blown up from people claiming to be non-QM experts.

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Appraising Industrial and Flex Buildings: What Info Do You Need?

McKissock

Why might you be engaged to appraise a single or multi-tenant industrial or flex style office building? What information do you need when appraising industrial and flex buildings ? Below, we explain the primary reasons for these types of appraisal assignments and provide punch lists of the items that you should acquire for appraisal purposes. Reasons for engagement.

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Brian Zitin, CEO of Reggora, to speak at Spring Summit

Housing Wire

Out of necessity, the pandemic spurred numerous changes in the mortgage process, including appraisals. But what part of that will stick after we’re back to a more normal environment? We’re exploring that topic at our Spring Summit on March 4 and asked Brian Zitin, co-founder and CEO of Reggora , to share his expertise on the panel titled, The Brave New World of Valuations.

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HUD extends COVID-19 forbearance for FHA loans

Housing Wire

The U.S. Department of Housing and Urban Development on Tuesday extended COVID-19 foreclosure and forbearance moratoriums for FHA and USDA loans to June 30, 2021. It also extended the deadline for the first legal action and the reasonable diligence time frame to 180 days. This announcement follows FHFA action last week to extend moratoriums for loans backed by Fannie Mae and Freddie Mac.

Legal 518
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Forbearance rate drops again, to 5.29%

Housing Wire

The total number of mortgages in forbearance declined six basis points to 5.29% in the week ending Feb. 7, according to the latest estimate from the Mortgage Bankers Association. The trade group said 2.6 million homeowners are currently in forbearance plans. “The share of loans in forbearance declined to the lowest level since April 5th of last year, due to decreases in both the GSE and Ginnie Mae portfolios,” said MBA Vice President and Chief Economist Mike Fratantoni.

Mortgage 429
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UpEquity raises $25M in Series A round

Housing Wire

Austin-based mortgage tech platform UpEquity raised $25 million in a Series A funding round led by Next Coast Ventures. The funding consists of $7.5 million in equity financing and $17.5 million in venture debt, UpEquity said in a statement. The funding will go toward product development and business development with real estate agents to reduce their time-to-close to 10 days, significantly higher than the industry average.