Tue.Apr 27, 2021

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This isn’t a housing bubble — and that’s the problem

Housing Wire

Last year, during the throes of COVID-19, I expended many words arguing that the U.S. economy would be OK despite the dark period we were in. We just needed patience. We aren’t in a housing bubble. Today we are enjoying the most remarkable comeback of the U.S. economy, which almost no one saw coming. The America is Back Economic Model and the 10-year yield should share the Oscar for best performance.

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Can You Be an Appraiser and an Agent at the Same Time?

The Appraiser Coach

It is possible to be simultaneously licensed and practicing as a real estate appraiser while also being a licensed and practicing real estate agent. The answer is yes, but there. Read More.

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Community, building equity important for young homebuyers

Housing Wire

A homebuyer report from Bank of America shows that 51% of young homebuyers aged 18 to 43 value community and friendly neighbors when deciding whether or not to pull the trigger on a new home. Also in the survey, which polled 2,000 adult homeowners and prospective homebuyers, just 33% of older generations (defined as ages 57 to 75) said community had become more important over the past year. “Along with a desire for more space and smart home technology, individuals are looking for a sense o

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Mortgage rates are too low (and they need to go up)

Sacramento Appraisal Blog

There are certain things that are just true. Spandex bodysuits shouldn’t be worn by most people. Mullets probably shouldn’t come back in style. And mortgage rates right now are just too low. The truth: Mortgage rates this low have helped create a chaotic housing market and they need to go up. I tweeted this yesterday […].

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CFPB looking at Mr. Cooper after withdrawal errors

Housing Wire

On Tuesday, the Consumer Financial Protection Bureau (CFPB) announced it was looking into a situation with mortgage servicer Mr. Cooper after the company made unauthorized withdrawals from borrower accounts over the weekend due to a vendor error. “The CFPB is taking immediate action to understand and resolve the situation that has affected hundreds of thousands of consumers,” said CFPB acting director Dave Uejio. “The CFPB will use all appropriate tools at our disposal to help ensure

Tools 381
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How to Become a Columbus Property Manager… and Earn $99,867! [2021]

The Robert Weiler Company

Here in Ohio, the number of property management professionals is increasing – and with good reason. The median annual salary for a Columbus property manager, for instance, is $99,867, according to Salary.com as of April 27, 2021. And that amount is not even including bonus, commission, and benefits, as well as other factors that impact base pay. Now, also factor in great market access, the standard of living, and valuable tax climate; you can easily see why individuals seek out Columbus, Ohio as

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Living in Knightdale, NC: 11 Tips Before Moving to Knightdale

Raleigh Realty

Living in Knightdale, NC Moving to Knightdale NC? 11 Things to Know Before you do Take a trip about 8 minutes from downtown Raleigh and head east towards the crossroads of I-540 and U.S. 264. Situated there is the upbeat and energetic town of Knightdale. The benefits of living in Knightdale extend far beyond the affordability of the homes for sale and we are going to break down all the pros and cons in this article Knightdale has a long history dating back almost to the 1700s.

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Appraisal bill would combat legacy of redlining

Housing Wire

Legislation in Congress would try to solve for inconsistencies in appraisal underwriting, a lack of diversity in the profession, and the legacy of property valuation discrimination. Rep. Emanuel Cleaver (D-MO) and Rep. Ritchie Torres (D-NY) last week introduced the “Real Estate Valuation Fairness and Improvement Act of 2021,” to root out discrimination in appraising and correct the legacy of redlining.

Appraisal 381
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Evaluating Data Reliability in Hybrid Appraisal Assignments

McKissock

In completing bifurcated and hybrid appraisals , you must reasonably believe that information relied upon—from a third-party inspector or another data source—is reliable. You, the appraiser, should have a process for evaluating data reliability by asking the following questions: Who collected the data? Is the data source unbiased and objective? Does the data source have a reputation of trustworthiness and accuracy?

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Solving for fraud, biometrics are the future of mortgage

Housing Wire

Better, faster, cheaper has long been the promise of technology in the mortgage industry. Some may argue whether today’s technology is that much better than the tools we used in the past, particularly in the servicing business where many still use platforms designed and first built decades ago. Likewise, others will argue over whether today’s tools are cheaper, given the high cost of loan origination.

Mortgage 401
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BiggerPockets Business Podcast 105: The MOST Profitable Skill to Learn (From a $200M+ VC Investor) with Codie Sanchez

BiggerPockets

Successful business owners are addicted to building businesses, sometimes to their folly. For someone like Codie Sanchez, this isn’t a problem, but a superpower. Codie is a journalist, a venture […].

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Broker lawsuit targets UWM’s ultimatum

Housing Wire

The controversial ultimatum United Wholesale Mortgage (UWM) issued to brokers in March constituted a violation of the Sherman Act and a series of anti-competition laws in the state of Florida, a St. Augustine-based mortgage broker alleges in a new lawsuit that seeks class-action status. Dan O’Kavage, president and founder of the O’Kavage Group , is the lead plaintiff in a lawsuit that claims UWM’s gambit was anticompetitive and illegal.

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Sun or Shade: The Perfect Plants for Your Garden

Quicken Loans

Not every garden is created equal. If you have trees shading your garden, you want to select plants that don’t need a lot of sunlight. On the flip side, you don’t want to put a shade-preferring plant in direct sunlight. Want to know the right plants for your garden ? Here are a few of our favorite plants that grow best in the sun and some that grow best in the shade.

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Finance of America to acquire Parkside’s wholesale biz

Housing Wire

Finance of America intends to acquire Parkside Lending ‘s third-party origination channel operation for $40 million, the publicly traded lender and servicer announced Tuesday. It’s the latest in a string of big M&A deals in the mortgage lending space – and the growing wholesale channel in particular – over the past six months. The deal, which is expected to close in the second quarter, will boost Finance of America’s third-party origination coverage by more than 1,000 broke

Finance 370
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Newbie Agent 101: How to Choose a Real Estate Brokerage

BiggerPockets

Passing the exam is just step one. Here, we walk you through the ins and outs of choosing a brokerage that suits you—and your career.

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Atlas, DivcoWest prepare $1B single-family rental venture

Housing Wire

Another partnership of asset management giants has announced a major investment in single-family rental homes. Atlas Real Estate and DivcoWest declared last week that they will spend $1 billion “acquiring and renovating homes in high-growth states including Colorado, Arizona, Idaho, Nevada, and Utah,” according to a press release. The companies entered into a joint venture that puts $250 million of equity into single-family rental homes.

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Making the Decision to Stop Renting

Eppraisal

I t has always been said that owning a home is the American dream. According to the latest 2021 statistics from ipropertymanagement.com, "44.1 million or 35.9% of U.S. households rent their homes." This same report states that most of the people are under the age of 45 and have attended college. Some have no other choice than to rent a home, others are qualified to purchase a home but have decided not to.

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Suzy Lindblom named COO of Kind Lending

Housing Wire

Wholesale lender Kind Lending has brought on mortgage veteran Suzy Lindblom as its chief operating officer, the company said Tuesday. Lindblom has 40 years of experience in the mortgage space, most recently serving as the COO of Planet Home Lending for three and half years. Prior to that, Lindblom served as the managing director of national fulfillment and operations at Stearns Lending — the first brainchild of Glenn Stearns, who happens to be the founder and CEO of her latest employer, Kind Len

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Rookie Podcast 73: Partnerships: What to Do Before You Jump in With Another Investor

BiggerPockets

Believe it or not, Tony and Ashley haven’t met each other in real life…until now! They’re recording from the BiggerPockets headquarters in Denver, and they brought their partners! Tony’s wife […].

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It’s official: QM rule compliance delayed until October 2022

Housing Wire

The Consumer Financial Protection Bureau formally delayed the mandatory compliance date of the General Qualified Mortgage final rule – better known as the QM rule – from July 1, 2021 to October 1, 2022 on Tuesday. This follows the bureau’s notice of proposed rulemaking on the issue on March 4. “So many consumers have been hit hard by the pandemic and the economic downturn, and we want to ensure that responsible, affordable mortgages remain available,” said CFPB Acting Director Dave Uejio.

Finance 370
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VIDEO: Solution to Housing Shortage May Be Just a Printer Away

Will Springer Realtor

The 3-D printer has helped our world move forward with new, affordable designs for everything from car parts to custom tools for industrial use. The housing industry is now getting in on the action with the development of 3-D printed homes. Using a special formula of quick-drying cement, companies are now building some of the first homes to help address affordability and homelessness here and abroad.

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White House aware of issues over investment properties

Housing Wire

The federal government is well aware that mortgage lenders and industry stakeholders are frustrated by the 7% cap on second homes and investment properties that was implemented as part of a broader series of amendments to Fannie Mae and Freddie Mac ‘s Preferred Stock Purchase Agreements. In a conversation with Mortgage Bankers Association President Bob Broeksmit last week, Bharat Ramamurti, deputy director of the National Economic Council , acknowledged the issue, which was designed to provide m

Investing 381
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Holding Company vs. Series LLC: Which Provides the Most Protection?

BiggerPockets

While an LLC works well for a single business, you’ll find that administration tasks and compliance rules expand with your portfolio. Consider a series LLC or holding company instead. Here's why.

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What it takes to become a top subservicer

Housing Wire

How did TMS Subservicing become one of the nation’s Top 10 subservicers? After years as an originator, the company took everything it learned and spent most of the last decade working to improve the servicing experience for all involved. TMS started by focusing on improving the little things, which then led to the company achieving some impressive statistics including: 90% first call resolution Under 5% abandonment rate 98% customer satisfaction 500,000+ borrowers.

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Appraisal modernization: What is going on with the forms?

Housing Wire

Here it is: another article about appraisal modernization. Many are tired of hearing about how the appraisal industry needs to change and progress. But it’s true, and change is necessary. (Where would our Internet-provider world be if it hadn’t evolved beyond 9600 baud modems to gigabit fiber-optic service?). The FHFA RFI responses to appraisal modernization are a treasure trove of insight into ideas and options for modernization from a wide variety of respondents.