Mon.Mar 13, 2023

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Former Fannie Mae chief named as CEO of Silicon Valley Bank N.A.

Housing Wire

The Federal Deposit Insurance Corporation (FDIC) has named former Fannie Mae CEO and Blend president Tim Mayopoulos as CEO of Silicon Valley Bank N.A. , an FDIC-operated “bridge bank” meant to protect all depositors of the now shut-down Silicon Valley Bank (SVB). While the FDIC — an independent government agency that insures bank deposits and overseas financial institutions — declined to comment on Mayopoulos’ role, his career has been focused on financial and legal expertise.

Insurance 388
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Keller Williams’ sales dip in US as agent count takes big leap overseas

Inman

Transaction sides fell 18.2 percent year over year for a total of $472.9 billion in sales in 2022, a 12.5 percent decline, according to a full-year earnings report released Monday afternoon by the Texas-based brokerage.

Brokerage 155
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What your title company needs to succeed in 2023

Housing Wire

The rollercoaster ride the housing market has been on for the last three years has ended. Instead of twists and turns, we believe the market will surprise us this year… simply by being boring. In a boring market, it’s more important than ever to stand out from the crowd. We want to show you how to do just that. Follow along for our tips on how to craft your marketing strategy to set yourself up for success in 2023.

Insurance 387
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Anthony Hitt unveils brand refresh at Engel & Völkers’ EVX conference

Inman

Engel & Völkers' luxury agents poured into Miami this week for the company's 10th annual conference, where Americas CEO Anthony Hitt revealed the brokerage's "Refined" brand refresh.

Brokerage 155
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Guild Mortgage acquires Cherry Creek Mortgage

Housing Wire

Retail lender Guild Mortgage announced the acquisition of Cherry Creek Mortgage , a privately-held Colorado-based lender with 68 branches in 45 states. Cherry Creek will become its own division of Guild, headed by co-founder Jeff May, Guild said on Monday. The terms of the acquisition were not disclosed. Established in 1987, Cherry Creek offers a wide range of mortgage products including conventional, FHA, VA USDA, USDA, reverse mortgages and home renovation loans.

Mortgage 370
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Top features of branded residences for the luxury buyer

Inman

Luxury buyers place a high value on acquiring the world’s most iconic brands, so it’s only natural they would appreciate an acclaimed name when making their next great real estate purchase.

Buyers 148

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Think globally, act locally: How the right franchise partner helps businesses expand their network and net worth

Inman

Our successful owners routinely gather to share winning business strategies, discuss joint business ventures, and help make each other even stronger, displaying an unbeatable combination of know-how and camaraderie.

Business 148
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Borrowers shift toward jumbo loans, ARMs as mortgage rates rise

Housing Wire

Rate and affordability pressures continue to challenge purchase lending, driving homebuyers to alternative loan products. The number of rate locks was down in February from the previous month, but dollar volume rose due to a rate environment that favored non-conforming loans including jumbo loans and adjustable-rate mortgages (ARMs), according to Black Knight ’s originations market report.

Mortgage 370
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WATCH: ChatGPT – Will it Replace Agents?

Inman

Is automating responses the best tactic in an industry that typically requires a deep level of personalization? In this episode, we will take a deeper dive into the benefits of these tools for entrepreneurs and the pitfalls of relying too heavily on technology.

Agents 148
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Bipartisan pair reintroduce bill to make MIP deduction permanent

Housing Wire

A bipartisan pair of members from the U.S. House of Representatives last week reintroduced a bill that seeks to solidify the mortgage insurance premium (MIP) deduction. The bill, House Resolution (HR) 1384 , is sponsored by Rep. Vern Buchanan (R-Fla.) and co-sponsored by Rep. Jimmy Panetta (D-Calif.), and if passed, it would amend the Internal Revenue Code of 1986 to increase the income gap and make the MIP deduction permanent.

Insurance 370
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William Lauder buys Rush Limbaugh’s Palm Beach estate

Inman

The deal marks a new record price for the market of Palm Beach where the priciest deal previously went to hedge funder Ken Griffin's purchase of four parcels for $129.6 million in 2013.

Marketing 148
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Slew of Negative Reviews for Appraiser Miller

Appraiserblogs

Her Google & Yelp business pages have received a slew of negative reviews from people living as far away as New Zealand! As real estate appraisers, we understand the importance of accuracy and fairness in our work. We are expected to perform valuation services competently and in a manner that is independent, impartial and objective. We also know how important it is to uphold ethical standards in order to protect ourselves and our clients from potential legal action.

Appraisal 135
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The Pinnacle Group joins forces with Douglas Elliman

Inman

The eight-person team, established by agent Elaine Bannigan, will now work out of Douglas Elliman's new office in Wellesley, Massachusetts, the company exclusively told Inman.

Agents 148
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Employment Situation in January: State-Level Analysis

Eyes on Housing

Nonfarm payroll employment increased in 48 states and the District of Columbia in January compared to the previous month, while Wyoming and Rhode Island lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 504,000 in January, following a gain of 260,000 jobs in December. On a month-over-month basis, employment data was strong in.

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3 questions agents need to answer right now to grow their business

Inman

There are multiple paths agents pursue to grow their business, with no shortage of online resources available. Agents can also get training from their brokerages and insights from colleagues. No development opportunity should be ignored when growing a business.

Business 148
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AMC introduces solution for appraisal bias claims

Valuation Review

R3 AMC is focused on helping lenders navigate the appraisal process.

Appraisal 105
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Silicon Valley Bank was part of an ecosystem that sped up innovation

Inman

Silicon Valley Bank, which federal regulators took control of Friday following a run on the bank, understood the digital age, supported entrepreneurs and understood our needs, writes Inman founder Brad Inman.

Lending 148
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Is now the time for multifamily housing investments?

Valuation Review

Cignature Realty CEO Lazer Sternhell shares multifamily housing thoughts.

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Signature becomes 2nd major real estate-focused bank to fail

Inman

Signature was the largest commercial real estate lender in New York City by transaction volume and third-largest by volume since January 2020, according to PincusCo, which tracks real estate transactions.

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Do you need a Divorce Appraisal?

Premier Home Appraisal Blog

Consider using us if you need a divorce appraisal in Virginia! Dividing assets in a divorce can be complicated. Let us help! Divorce home appraisals are often necessary when separating marital assets, particularly real estate, for divorce proceedings. An appraisal for divorce is an unbiased estimate of the accurate (or fair market) value of what a home is worth.

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Inventory struggle is real, leaders declare in exclusive Inman survey

Inman

Leaders and agents who took Inman's first Intel leadership survey said inventory is among their biggest challenges right now — but growing in 2023 isn't out of the question.

Inventory 148
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Dividing assets in a divorce: Do you need an Appraisal?

Premier Home Appraisal Blog

When it comes to separating marital assets, particularly real estate, for divorce proceedings, home appraisals are often necessary. A home appraisal is an unbiased estimate of the true (or fair market) value of what a home is worth. It ultimately helps determine how much each party will receive in the settlement and can be used when calculating alimony or child support payments.

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10 tips for crafting CTAs that convert browsers into buyers

Inman

How can you write the most effective call to action, the one that will convert more lookers into leads? Author and coach Darryl Davis offers 10 tips for writing CTAs that’ll get consumers to take action.

Buyers 145
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Affordability, supply remain big challenges in 2023: report

Mortgagebroker News

Commercial real estate analysis highlights the strain being put on the multifamily sector by lack of inventory

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With fewer million-dollar homes, is luxury OK? The Real Word

Inman

This week, hosts Byron Lazine and Nicole White are talking about the luxury market, seller's biggest regrets and the importance of technology for agents this year.

Sellers 148
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Fannie Mae: Unaffordability remains top housing market perception for consumers

Valuation Review

The Fannie Mae Home Purchase Sentiment Index increased for the third consecutive month in January.

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CHALLENGE: Refresh your website in 7 days

Inman

If your website is looking more Myspace than TikTok, it's probably time for a refresh. Here's how to get it done quickly, no matter what your budget looks like.

Design 147
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How Did A $200B+ Bank Collapse In 48 Hours? Is Real Estate Going To Be Impacted?

BiggerPockets

Last week, Silicon Valley Bank (SVB) rapidly collapsed—going from normal operations to insolvency in a matter of days.

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Mortgage rates nosedive in fallout from Silicon Valley Bank failure

Inman

Bank failures and a slowdown in wage growth have forecasters thinking the Fed will back off from an aggressive rate hike campaign next week.

Mortgage 148
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Competitive spring shopping season expected, albeit few homes are available

Valuation Review

Zillow reports the fast-approaching spring home shopping season should feel a bit calmer.

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No, it’s not 2008: How to talk to your clients about Silicon Valley Bank

Inman

The meltdown of Silicon Valley Bank has sent shockwaves through the proptech industry. Here’s how to keep it from poisoning the well during the spring market.

Clients 114
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Bank of Canada reveals current extent of consumers' financial risk

Mortgagebroker News

The central bank has engaged in an unprecedented campaign of rate jumps over the past year

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Where the REAL Money is Made in Multifamily (Asset Management 101)

BiggerPockets

The way you manage your multifamily real estate could be the defining factor when growing a bigger portfolio, reaching financial freedom, and leaving a lasting legacy.

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Are You Housing a Silent Killer?

Town & Country Residential Appraisals

Radon is a naturally occurring radioactive gas that is colorless, odorless, and tasteless. It is considered to be the leading cause in lung cancer deaths in non-smokers and the second cause amongst those who smoke which is why it is referred to as the silent killer. It is formed by the decay of uranium and thorium, which are present in most rocks and soils.

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