Fri.May 26, 2023

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Borrowers could save $100 a month or more by shopping around for mortgages: CFPB

Housing Wire

Borrowers seeking mortgage financing to purchase a home could find themselves saving $100 a month or more by shopping around, and locating cheaper lenders with which to do business. This is according to a new blog post published this week by the Consumer Financial Protection Bureau (CFPB). By analyzing Home Mortgage Disclosure Act (HMDA) data from 2021, the CFPB determined that mortgage rates paid by consumers vary across a wide variety of lenders, including for mortgages backed by Fannie Mae an

Mortgage 392
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The Difference Between Pricing a Property and Appraising It

Cleveland Appraisal Blog

Most weeks I perform appraisals for divorce or a marriage dissolution. In recent years, on several occasions, I have been hired to appraise a property after a valuation service was provided for my client by another real estate professional. They had hired the former real estate professional to value their property for the purpose of a divorce. But then they had to hire me to perform an appraisal.

Appraisal 302
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The title industry’s latest cat-and-mouse game: seller impersonation fraud

Housing Wire

The threat posed by wire fraud has commanded quite a bit of attention from the real estate ecosystem. But as the housing industry has gotten better at tackling it, fraudsters have been hard at work developing more creative scams. In January, a report from wire fraud prevention firm CertifID in conjunction with the U.S. Secret Service , notified the title industry of a rise in what is known as vacant lot fraud, or seller impersonation fraud.

Sellers 382
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CEO of fast-growing platform pitches ‘brokerage as a service’

Real Estate News

Pinnacle Realty Advisors CEO Sam Sawyer discusses his company’s model, growth trajectory and the traps they’re trying to avoid along the way.

Brokerage 273
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OneMain Financial to pay $4.25 million to New York State over cybersecurity lapses

Housing Wire

New York State’s Department of Financial Services (DFS) announced this week that mortgage lender and servicer OneMain Financial will pay a $4.25 million penalty due to lapses in its cybersecurity controls by “failing to effectively manage third-party service provider risk, manage access privileges, and maintain a formal application security development methodology.

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Fewer people are moving, but those who are seek new communities

Real Estate News

The latest Redfin report finds that while moving is down overall, a higher percentage of those who move are relocating to other parts of the U.S.

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Brokerage Beat: Growth at Christie's, Real, E&V, C21, Beach Homes

Real Estate News

Christie's expands on E. Coast and Australia; Real moves into S. Dakota; E&V expands in Florida, Bahamas; Century 21 adds NY affiliate; Beach Homes launches.

Brokerage 191
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Mosaik is peak client experience, the ideal agent productivity solution: Tech Review

Inman

Mosaik is an operating system for the client experience, handling listings, tasks, transactions and relationships for real estate agents and teams.

Clients 188
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In a slow market, more sellers are willing to make a deal

Real Estate News

A Redfin report found that nearly 43% of home sellers made concessions in the early spring, a big jump from 26% a year ago.

Sellers 206
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Here’s the story: Iconic ‘Brady Bunch’ home hits market for $5.5M

Inman

The home in Studio City was renovated by HGTV in 2019 and has since been used in a number of the network's specials and series. Now one lucky buyer will be able to keep a piece of television history.

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Rates on Development and Construction Loans Continue to Climb

Eyes on Housing

While mortgage rates were stabilizing in the first quarter of 2023, rates on loans for Acquisition, Development & Construction (AD&C) continued to climb, according to NAHB’s quarterly Survey on AD&C Financing. From the last quarter of 2022 to the first quarter of 2023, the average effective rate (based on rate of return to the lender over the assumed life of.

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Your business shouldn’t advertise for Memorial Day. Here’s why

Inman

Should you advertise for Memorial Day? Jessi Healey, a previous military spouse and social media expert sounds off on what is and isn't appropriate over May's annual three-day weekend.

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5 Ways to Survive a Slow Real Estate Market as an Appraiser

McKissock

How can you bolster your appraisal business during a slow real estate market? This month we asked our appraisal community, “What’s the BEST way to survive a slow market as an appraiser?” The most popular answer was, “Offer your appraisal services to a variety of clients (attorneys, real estate agents, homeowners, property investors, etc.).” However, many respondents said that all five of the following strategies should be employed to help your appraisal business sur

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Mortgage rate gap among lenders wider than previously understood

Inman

A homebuyer taking out a $300,000 loan could end up overpaying by $1,200 a year — and even more if they're in the market for a jumbo, FHA or VA mortgage, according to a new CFPB analysis.

Mortgage 154
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What Is a Housing Market Correction and How Does It Really Impact You?

BiggerPockets

You've probably heard a lot about a housing market correction recently. This article explains what causes a correction and how it impacts investors.

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Florida agents fear unintended consequences of real estate ban

Inman

Senate Bill 264 goes into effect in July. It might not have a big impact on the buying power of foreign citizens, but the ripple effects of the law's suggestively biased tone may set a precedent.

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Multigenerational property construction on the rise, says lending executive

Mortgagebroker News

The trend is growing amid rising property prices and the ever-present housing supply crisis

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Zillow expands ‘post-pay’ Premier Agent model to 2 new markets

Inman

The expansion is part of Zillow's "enhanced markets" program, which is now in six cities and part of the company's efforts to eventually build a real estate "super app.

Agents 148
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Rookie Reply: Best HVACs, HELOCs, and Using Home Equity to Buy Rentals

BiggerPockets

Want to know how to use your home equity to buy your next rental?

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Pro athlete playbook: A winning formula for real estate sales

Inman

Working with professional athletes can be both exciting and challenging, but it's an incredibly rewarding experience, according to Atlanta agent Chad Carrodus.

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Alternative lending – CMHC on the spike in demand

Mortgagebroker News

Still, many lenders are taking a more conservative approach than before

Lending 69
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Private mortgage insurers have friends in high places

Inman

House lawmakers ask SEC not to hinder a system that private mortgage insurers have used to transfer nearly $68 billion in risk since 2015.

Insurance 153
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Appetite for investment property remains strong, says Royal LePage

Mortgagebroker News

Higher interest rates have not been an impediment to residential investors, new report says

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Fathom Realty announces slew of new leadership hires

Inman

The North Carolina-headquartered real estate firm announced the hiring and promotion of new district directors in five key markets.

Realty 154
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Feds announce massive $181m housing investment in Hamilton, ON

Mortgagebroker News

The funding will support the development of hundreds of new homes

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NAR membership, grim outlooks, beating the odds: Inman’s Top 5

Inman

Wondering what you missed this week? Find out with Inman's Top 5 most-read stories of the week.

Brokerage 154
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Choosing the Right Mortgage Term: Deciding Between 15, 20, or 30 Years

Eppraisal

Deciding on the term of your mortgage is a crucial step in the homebuying process. The choice between a 15-year, 20-year, or 30-year mortgage can significantly impact your financial situation. Let's begin by understanding the value of each of the three common mortgage terms. 15-Year Mortgage: A 15-year mortgage offers a shorter term with higher monthly payments but allows homeowners to build equity quickly.

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Olympic training, ballet, real estate — now, ‘Kendra Sells Hollywood’

Inman

Meet McKenzie Ryan. From her Olympic training days to her passion for the NYC skyline to what's going down on Season 2 of "Kendra Sells Hollywood," Inman sat down with Ryan to get the Real Tea on everything.

Training 118
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Best Schools In Houston

Houston Properties

Impact Top Schools Have On Home Values

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NAR’s incredible shrinking membership roster: The Download

Inman

Take a look at the new membership numbers, then find out how to gain mindshare in your market with a well-developed content marketing plan.

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Montreal office market still grappling with high vacancy

Mortgagebroker News

Roughly 20 million sq. ft.

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FHA: Cosmetic vs. MPR Repairs

Appraisal Today

Cosmetic vs. MPR Repairs: Guidance for FHA Appraisers By: McKissock Excerpts: If you are appraising a property that needs some cosmetic repairs but meets FHA minimum property requirements (MPR) in its current condition, you should make the appraisal “as-is.” Here is some guidance on cosmetic repairs vs. MPR repairs. Topics include: When can an FHA appraisal be completed “as-is” vs.

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Buying a House in Texas: A Guide for 2023

Listing Spark

Hey there future homeowners! If you’re considering buying a house in Texas in 2023, you’re joining a fast-growing group of people who see the Lone Star State as the perfect place to settle down. From the booming economy, diverse landscapes, to the friendly communities, there’s so much to love about Texas.In this blog post, we’ll guide you through everything you need to know about how to buy a house in Texas.

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Recovery clearly apparent in GTA's new home market: report

Mortgagebroker News

Single-family home sales accounted for much of the market's resurgence in April