Fri.Oct 28, 2022

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Pending home sales are down 31% from last year

Housing Wire

Pending home sales continued their downward spiral in September, recording a 10.2% month-over-month decline that resulted in an index reading of 79.5, according to data released Friday by the National Association of Realtors. This is the fourth consecutive month of declines. Pending home sales have now fallen in 10 of the last 11 months. Economists predicted that pending home sales would drop by 4.0% in September.

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Case Study: Impact of Flood Risk on Property Values

Appraisal Buzz

“The above analysis clearly indicates a property in flood zones sells for less and appreciates slower over time than a similar property outside flood zones, given everything else is equal, in Miami,” according to CoreLogic’s report. The post Case Study: Impact of Flood Risk on Property Values appeared first on Appraisal Buzz.

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Sluggish Flagstar, NYCB merger deal clears major hurdle

Housing Wire

More than 18 months after the planned merger was announced, Flagstar Bank and New York Community Bank on Friday received approval by the Office of the Comptroller of the Currency. The depository banks, which first announced plans 19 months ago, extended their agreement to merge from Oct. 31 to Dec. 31, but still require the approval of the Federal Reserve.

Retail 411
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Pending Home Sales Drop in September

Appraisal Buzz

The National Association of Realtors’ latest Pending Home Sales Index showed transactions sliding by 31% year-over-year. Contract signings also pulled back in all four major U.S. regions, with inflated mortgage rates continuing to hinder homebuyers from purchasing a home. The post Pending Home Sales Drop in September appeared first on Appraisal Buzz.

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HousingWire Annual On-Demand 2022

Housing Wire

All Things Housing. HousingWire Annual is where the community from across the housing ecosystem comes together to share strategies, drive business, discover new technologies, discuss best practices, and meet industry leaders. During this year’s conference, content spoke to questions about the economy, how to build a winning team, and attract a community of loyal customers.

Lending 401
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Waterstone Mortgage Promotes Brian Wesselhoff to CIO

Appraisal Buzz

Brian Wesselhoff has been promoted to chief information officer at Waterstone Mortgage. In his new role as CIO, Wesselhoff will lead Waterstone Mortgage’s many technology initiatives, such as hardware, servers, data center, data and voice technologies, and security measures. . He will also oversee the management of the company’s ticketing system, which streamlines requests across various departments.

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Tavant Integration with Experian Drives Mortgage Application Efficiency

Appraisal Buzz

Tavant , a Silicon Valley-based provider of digital lending solutions, and Experian, a global information services company, have integrated Experian ’s Enhanced Instant Form Fill for Mortgage with FinXperience and FinConnect, components of Tavant’s V?LOX digital lending platform. The integration will enable mortgage lenders using these solutions to streamline the loan application processes, reduce application abandonment, and improve data accuracy, the companies claim in a release.

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How can lenders reduce costs in the home equity space?

Housing Wire

As the mortgage industry faces the realities of rising interest rates, savvy lenders are shifting gears towards the potential profitability of home equity lending. HousingWire recently spoke with Paul Harris, SVP of sales at DataVerify, about capitalizing on the home equity market with the help of automated tech solutions and mutually beneficial partnerships.

Lending 411
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OCC Approves NYCB/Flagstar Merger

Appraisal Buzz

Once finalized, the combined entity will operate nearly 400 branches across nine states, and its mortgage division will operate nationally through 81 retail lending offices in 26 states, with a wholesale network of approximately 3,000 third-party originators. The post OCC Approves NYCB/Flagstar Merger appeared first on Appraisal Buzz.

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American Pacific Mortgage scoops up former FAM employees

Housing Wire

Former employees at Finance of America Mortgage LLC (FAM) are transitioning to American Pacific Mortgage (APM), as the company will shut down by the end of the year, a source with knowledge of the process told HousingWire. . Specifically, California-based APM has hired former FAM staff members in Northern California offices, the source said. The same source explained that there’s no transfer of assets nor is there a merger and acquisition (M&A) transaction. . “As a matter of

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Pandemic Migration Could Play Role in November Election

Appraisal Buzz

“The pandemic-driven wave of relocation to suburbs and rural areas—which tend to lean more conservative than city centers—made those toss-up places more diverse,” said Taylor Marr, Redfin’s Deputy Chief Economist. The post Pandemic Migration Could Play Role in November Election appeared first on Appraisal Buzz.

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Homestar names Gurp Bhandal EVP of national production

Housing Wire

Mortgage lender Homestar Financial Corporation on Friday announced appointing Gurp Bhandal as executive vice president of national production. Bhandal’s professional career spans more than 20 years in financial services. Prior to HOMESTAR, he served as the executive vice president of retail production at AmeriSave Mortgage Corporation and area lending manager roles at Citi.

Retail 401
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Buyers’ Expectations of Housing Availability Continue to Improve

Eyes on Housing

For the second straight quarter, more prospective buyers expect housing availability to improve. In the third quarter of 2022, 37% of buyers expect the home search to get easier in the months ahead, up from 17% and 22% in the first and second quarters of the year, respectively. More for-sale inventory and less competition from buyers priced-out by higher mortgage.

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The Future of Marketing

Housing Wire

We’ll take a look back at 2022 and into 2023 from a marketing strategy standpoint. With rising rates, inflation, a complete switch to purchase and continued inventory constraints there will be a lot for our panel to talk about. Watch the full session below. To go back to the full HousingWire Annual 2022 on demand page, go here. Panelist: Rick Webster, Chief Marketing Officer, Lender Price Amy Moses, Vice President, Marketing & Communications, EscrowTab Sara Holtz, VP, Demand Marketing and Co

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Inflation Brings Savings Rate Down In September

Eyes on Housing

The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income increased 0.4% in September, the eighth consecutive monthly increase of this year. Gains in personal income are largely driven by increases in compensation of employees and personal income on assets. Real disposable income, income remaining after adjusted for taxes and inflation, stayed flat in.

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How I Earned 100k Followers & Other Social Media Lessons

Housing Wire

One of the biggest benefits of social media for real estate agents and mortgage brokers is the ability to highlight your success stories to connect with clients. Buyers and sellers are spoiled for choice when it comes to finding an agent or lender, so the more you’re able to stay top of mind the more they will remember you when they need you. This panel will explore best practices to capitalize on the tremendous potential of having loyal followers including regulations you need to be aware

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Laurie Howe Bourgeois Qualifies for 2022 Lamacchia Realty President’s Club ELITE

Lamacchia Realty

We are thrilled to share that Laurie Howe Bourgeois has qualified for the Lamacchia Realty President’s Club ELITE for the 2nd year in a row ! Laurie is a frequent flyer in Lamacchia Realty’s President’s Club, achieving the base status in 2019 , 2020 , and 2021 , and 2022. Reaching the ELITE level for two years in a row is quite the accomplishment, demonstrating her ability to consistently sell over $26,000,000 in sales volume.

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Women in Leadership: Making the Stats a Reality

Housing Wire

We’ve all see the stats around the power of having women in leadership. But where are the companies putting this into action? And what does it looks like to have an ally in the C-Suite? These executives share personal accounts on how they’ve taken those stats and put them into practice. Watch the full session below. To go back to the full HousingWire Annual 2022 on demand page, go here.

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2023 Colors of the Year -- How and Where to Start Incorporating Them Now

Eppraisal

Every year the major paint manufacturers and interior design experts announce Colors of the Year. They choose their Colors of the Year based on design trends and feelings about current events taking place around the world. They also provide ideas on how to integrate the colors into your home. There are already a few predictions about which colors will be trending, and which colors will be announced as Colors of the Year. 2023 Colors of the Year There is a very informative article on bhg.com, wri

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Fireside Chat with Mary Ann McGarry

Housing Wire

Mary Ann McGarry talks to Sarah Wheeler about the importance of confidence, creating value, and taking on challenges in this Fireside chat. McGarry also talks about the current market and the importance of optimism in the current market. Watch the full session below. To go back to the full HousingWire Annual 2022 on demand page, go here. Panelist: Sarah Wheeler, Editor in Chief, HW Media Mary Ann McGarry, Chief Executive Officer, Director, Guild Holdings Company.

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VA Update for Appraisers

Appraisal Today

VA Update for Appraisers. Interview with VA’s Chief Appraiser. By Isaac Peck. Excerpts: …the United States Department of Veteran Affairs (VA), is known throughout the valuation community for respecting the work of appraisers and maintaining reasonable fee schedules. The questions: Fannie Mae and Freddie Mac are making desktop appraisals a permanent fixture in their valuation offerings.

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1+1=3 The Marketing Strategy of M&A

Housing Wire

We’ve assembled a powerhouse panel of marketers who have walked the path many in the industry may find themselves on to share their experience of developing and executing a marketing strategy after a merger or acquisition. This is a discussion among marketers for marketers about the key things you should consider, will have to overcome and seek guidance on to successfully brand a newly combined company.

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Signing with a mobile notary

San Jose Real Estate

When it’s time for your final document signing prior to the close of escrow or refinance, is signing with a mobile notary better, or should you do it at the title company? These aren’t papers that you can DocuSign – they must be done in person. What is a mobile notary? A notary, or notary […].

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The Logic of Emotion: How to Make Inaction Impossible

Housing Wire

You may have noticed a problem with the age-old “problem/solution” formula for driving action from your messages and marketing: it doesn’t always work! That’s a big issue when your job, and maybe even your business, depends on your content converting customers and clients. Unfortunately, presenting only the audience’s problem and your solution misses an important fact about them: your audiences aren’t rational decision-makers, they’re rationaliZING decision-makers.

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Rookie Reply: The 1% Rule, Turnkey Rentals, and Escrow Accounts Explained

BiggerPockets

Is the 1% rule in real estate still relevant? Who shouldn’t be buying turnkey rentals? And why is an escrow account favorable for scaling real estate investors? All these questions […].

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The Good, the Bad, and Things We Need to Talk About – A Real Conversation Around Work-life Balance

Housing Wire

The topic of work-life balance can be particularly challenging for women in the workplace as much of the responsibilities in the home sits on their shoulders in addition to the demands of a competitive career. Panelists will discuss the challenges of balancing work and life and share insights on how they have managed to build successful and growing careers while attempting to limit sacrifices made in their personal lives.

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RBC highlights threats to Canadian net wealth

Mortgagebroker News

Trends in housing prices and financial markets will have a significant influence on Canadians' net wealth, RBC says

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Anthony Lamacchia Discusses Slowing Real Estate Market on Bloomberg Baystate Business Podcast

Lamacchia Realty

October 27th, 2022 – Anthony Lamacchia spoke about the current housing market on the Bloomberg Baystate Business podcast with Tom Moroney, Joe Shortsleeve, Kim Carrigan, Anne Mostue, and Janet Wu. Anthony discusses the slowing real estate market, in the Greater Boston area and beyond, the challenges buyers & sellers are experiencing, what the current housing market data means, and what the outlook is for the rest of 2022.

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Panel explores challenges and opportunities for women in brokering

Mortgagebroker News

Brokers from across Canada discussed some of the ways women can navigate a career in mortgages

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MBA 2022: ClearCast minisodes, conference photos, and more

Clear Capital

Session recaps & photos. Day One General Session Recap. MBA’s first keynote session covered the current state of the market, predictions for the future, and how companies can adapt in these uncertain times. The session kicked off with opening remarks from Kristy Feracho, 2022 MBA chair and executive vice president of home lending at Wells Fargo; Matthew Rocco, 2023 MBA chairman, and chief executive officer and chairman of the board of Grandbridge Real Estate Capital LLC; and Bob Broeksmit,

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How are the BoC's oversized hikes affecting the rental housing market?

Mortgagebroker News

Rent rates in urban markets are at risk of even greater upward pressure, economists warn

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All-Cash New Home Sales Outnumber FHA-Backed for the First Time Since 2007

Eyes on Housing

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that new home sales financed through FHA numbered 11,000 and accounted for 7.5% of the total in Q3 2022–the smallest share since the fourth quarter of 2007. The share has dropped by nearly two-thirds since the spring of 2020. In contrast, the share.

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Rising Stars 2022

Mortgagebroker News

Celebrating the exceptional young mortgage professionals who have succeeded in complex market conditions

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Is Tech the Answer to Challenges in the Engineering Industry?

GoForrmz

Engineers solve the world’s problems, can technology give them the support they need? Engineers are responsible for the solutions to many of life’s biggest challenges, and it’s a safe guess they’ll continue to do so. From the earliest days of incorporating science, technology, and art to fully comprehend our solar system, to modern-day advances in hydrotechnology bringing clean water to third world countries, engineering isn’t a topic to be taken lightly.