Tue.Feb 07, 2023

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Guild acquires small retail lender Legacy Mortgage

Housing Wire

Acquisitive lender Guild Mortgage on Tuesday announced the acquisition of Legacy Mortgage , increasing its footprint in the Southwest. Publicly traded Guild is picking up Legacy’s 13 branches across four Southwest states – Arizona, Colorado, New Mexico and Texas. Terms of the deal were not disclosed. “This acquisition is part of the company’s continued plan to grow both in existing markets and by entering new ones with selective acquisitions of like-minded lenders,” Guild CEO Mary Ann McGa

Retail 382
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Sellers have been sitting out of the housing market too

Sacramento Appraisal Blog

There is so much talk about buyers sitting on the sidelines right now, but let’s talk about sellers who are also sitting. This is a local trend, but it’s something showing up in many markets across the country also. UPCOMING (PUBLIC) SPEAKING GIGS: 2/8/23 SAFE Credit Union “Snacks & Facts” (for RE) (register here) 3/06/23 […] The post Sellers have been sitting out of the housing market too first appeared on Sacramento Appraisal Blog | Real Estate Appraiser.

Sellers 323
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Could the assumable mortgage level the playing field?

Housing Wire

California-based Carrington Mortgage Services (CMS) sees a window of opportunity in the mortgage market. The Federal Reserve (Fed) actions that resulted in millions of borrowers receiving mortgage rates below 4% gave way to Fed actions that… triggered mortgage rates to rise above 7% in the fall of 2022. The duality of the Fed has resulted in a mortgage rate lockdown: homeowners with low mortgage rates aren’t motivated to sell when home prices are high and mortgage rates remain in the 6% range.

Mortgage 382
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Why You Should Hire Professionals to Measure Your Home

Cleveland Appraisal Blog

As a Home Measurement Specialist, this article is close to my heart! This week my regular guest blogger, Betty White from Moving Offices San Diego , offers some reasons why you should hire a professional to measure your home as well as to remodel it. I hope you find some helpful information in this article! There are many benefits to hiring an expert to measure your home, and there are two most obvious reasons for that.

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Get ready for HousingWire Annual 2023

Housing Wire

Get ready for Housingwire Annual 2023. Join us on October 10-12, 2023 in Austin, Texas for the ‘All Things Housing’ event of the season. The whole team at HW is so excited to be hosting this event in our home state. During last year’s conference, we explored ‘All Things Housing’ in Scottsdale, Ariz. Attendees heard informative and exciting sessions by speakers like Ryan Serhant, Logan Mohtashami, Sandra Thompson and Bill Lyons.

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Age of Housing Stock by State

Eyes on Housing

According to the latest data from the 2021 American Community Survey (ACS), the median age of owner-occupied homes was 40 years. The age of the housing stock is an important remodeling market indicator. Older houses are less energy-efficient than new construction and ultimately will require remodeling and renovation in the future. Moreover, as people use their homes for more purposes.

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When You’re Up A Creek, Cross It

The Appraiser Coach

We often have experiences that teach us principles of life or business—or in this case, both. And the power of an analogy is such that it can apply to a.

Business 150
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Snapdocs completes integration with Mortgage Cadence LOS

Housing Wire

Digital closing platform Snapdocs announced on Tuesday that it has completed its integration with Mortgage Cadence, a cloud-based digital lending platform. This integration will enable lenders to finalize closing documents using Snapdocs within Mortgage Cadence’s loan origination system (LOS). Lenders can also use the system to order closing documents and other data.

Mortgage 370
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The Agency expands further into Europe with new Portugal franchise

Inman

The new Lisbon office follows The Agency's first foray into Europe — in The Netherlands — last spring. The office will be led by Managing Partner Ayres Neto, The Agency revealed to Inman.

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Ishbia gets NBA Board of Governors’ blessing to buy the Phoenix Suns

Housing Wire

The NBA Board of Governors announced on Monday that it had approved the group, led by mortgage industry executive Mat Ishbia, to acquire the Phoenix Suns and Phoenix Mercury. The transaction, which values the Suns and Mercury at $4 billion, first became public in December. The NBA said in a news release that the deal is expected to close this week, and both teams will change hands for the first time in 19 years.

Valuation 370
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Most homebuyers forking out big bucks to buy down mortgage rate

Inman

While mortgage rates have eased and home prices have fallen in many markets, affordability "still has a stranglehold on much of the market," according to research released Monday by Black Knight.

Mortgage 159
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Anthony Hsieh is fighting with the loanDepot board

Housing Wire

loanDepot founder and chairman Anthony Hsieh has decided to use his majority voting power to unilaterally nominate Steven Ozonian for election to the board of directors, exposing a dispute with other board members, the company disclosed in a regulatory filing on Tuesday. The decision on the new board member will be made in the company’s 2023 annual stockholders’ meeting, during which Hsieh intends to vote all of his shares in favor of Ozonian.

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M. Ryan Gorman dishes on his second act, post-Coldwell Banker

Inman

The former Coldwell Banker CEO spoke with Inman about his development firm btcRE, which aims to "be the change" he wants to see in real estate. "What’s old is new again," he told Inman.

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Nominations for the 2023 HW Rising Stars are now open

Housing Wire

HousingWire’s Rising Stars are back! Nominations for the popular award open today and will run until Friday, February 24, 2023. This year — in an effort to combine mortgage and real estate into one award — we’re excited to announce the HW Rising Stars is also the new home to the successful RealTrends Emerging Leaders award. This program recognizes industry professionals ages 40 and under who have become leaders in their respective fields.

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Regulators fire warning shot over bow of mortgage comparison sites

Inman

The Consumer Financial Protection Bureau warned on Tuesday that operators of mortgage comparison-shopping platforms may be violating RESPA if they manipulate search results to coerce kickbacks.

Mortgage 156
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Smaller nonbanks facing “come to Jesus moment” as MSR values dip 

Housing Wire

The year ahead for the mortgage-servicing rights market is shaping up to be a lucrative play for investors, lenders and others looking to purchase MSR assets. Independent mortgage banks (IMBs) leaning on MSR sales, however, now face a supply-demand imbalance, market observers say. That imbalance favors buyers and is expected to be a drag on MSR pricing that threatens to squeeze margins for already struggling IMBs — particularly the smaller players, regardless of whether they sell or retain serv

Sellers 302
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Get out of your head! Shut down negative self-talk with these proven strategies

Inman

Whether you’re in leadership, a broker-owner or an agent, negative self-talk plagues virtually everyone, writes trainer Bernice Ross. Here's how to turn off that negative voice in your head and move forward anyway.

Agents 152
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Window to the Law: Ensuring Impartial Appraisals

National Association of Realtors

Real estate transactions rely on an objective appraisal to determine a home’s market value, but evidence suggests there’s potential for racial bias in the appraisal process. Learn more about the Property Appraisal and Valuation Equity action plan to eliminate racial and ethnic bias in home valuations, and find tips to ensure an impartial appraisal.

Law 75
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Mapping out 253 cities with quarterly declines in home value

Inman

Where are home prices falling? Let's map out the 253 cities that saw quarterly declines in the final three months of 2022. But there are indications that this isn't a repeat of the 2008 crash.

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Purchasing & Developing Land - Part 5 - Reselling It - Raw or Developed

Eppraisal

Owning raw land has real potential along with its share of pitfalls. Whether you decide to hold it and sell when real property values climb or -- alternatively -- develop the lot to convey at a higher price, you are subject to forces of market, timing and competition. We have considered the acquisition of vacant land, financing that purchase; and complying with legal standards.

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Broker Tamir Shemesh lands at Nest Seekers after SERHANT. exit

Inman

Following the announcement of his untimely departure from SERHANT. after just one year, Tamir Shemesh has now joined Nest Seekers International, his fourth brokerage in the past six years.

Brokerage 155
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How to Become an Appraiser in 3 Steps

McKissock

To become a licensed appraiser , most states require you to start out as an appraisal trainee and obtain a certain number of hours of experience before you can appraise real property on your own. Many states have different titles for trainees, such as apprentice appraiser or registered appraiser. Some states require you to earn a college degree , but some don’t.

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Douglas Elliman enters Wellesley, MA, bringing on Joni Shore Group

Inman

The move into Wellesley will be bolstered by Joni Shore's three decades-plus career in real estate, which now exceeds $600 million in sales volume, according to news revealed exclusively to Inman.

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How should brokers assist their clients amid elevated interest rates?

Mortgagebroker News

"What has worked in the low interest rate environment isn't going to be sustainable going into this high interest rate environment"

Clients 69
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The digital evolution of real estate investing

Inman

We know that technology has disrupted the homebuying and selling process, but it's also heavily influenced how we invest in real estate.

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What challenges are variable borrowers facing after latest Bank of Canada hike?

Mortgagebroker News

The January rate decision means many borrowers on variable rates have seen their payments spike again

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Black Knight, myCUmortgage vie to power credit unions’ home loans

Inman

Ohio-based myCUmortgage signed nine credit unions serving more than 380,000 members as new partners in 2022.

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No Down Payment? No Problem! Three Creative Financing Options to Consider

BiggerPockets

When you’re ready to invest in real estate but don’t have the money readily available, that can feel like a full-stop roadblock.

Finance 56
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How much is the BoC's 2023 rate hike affecting homeowners?

Mortgagebroker News

New poll reveals depth of Canadian homeowners' current worries

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Price growth slowdown continued in December as mortgage rates peaked

Inman

Home price growth fell 0.4 percent between November and December, while year-over-year single-family price growth dropped to 6.9 percent, according to new data released Tuesday by CoreLogic.

Mortgage 159
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2023 market: Another eventful year ahead, broker suggests

Mortgagebroker News

The direction of a number of key trends will dictate how the market fares this year, says Ontario executive

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Seattle’s Love of All Things Chocolate

Will Springer Realtor

Someone once said, “Who cares about falling in love. I’d rather fall in chocolate.” While that person was kidding (right?!) , there is a lot to be said about the aromatic, earthy goodness of refined cacao seeds. Whether dark or milk, as a candy bar or in a box of assortments, chocolate can turn an ordinary moment into something extraordinary. There is no better time than Valentine’s to showcase the most popular confection and treat.

Retail 36
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What are the BC housing market's prospects this year?

Mortgagebroker News

BCREA releases latest forecast

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Should I Rent My Home if it Won't Sell?

Hank Miller Team

“Should I rent my home if it won't sell”? Well, that question has many layers. But that off the cuff declaration by an annoyed seller might be a bit dramatic and premature. For owners unsuccessful at selling, “I’ll rent it” seems to be a knee jerk response. Best to take a step back, breathe, and examine all of the mitigating circumstances that contributed to this situation.