Housing Wire

SEPTEMBER 23, 2020

Vexed by work-from-home arrangements owing to the COVID-19 pandemic, homeowners are taking the long view and rethinking floor plans. The reality is, home offices are no longer a luxury. In the initial three weeks of public health lockdowns in March, according to Gallup , the percentage of employed Americans working from home doubled to 62%. Of these workers, three in five said they’d prefer to work from home when restrictions are lifted.

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The Robert Weiler Company

SEPTEMBER 20, 2020

Commercial property management is a year-round task as weather changes can bring unexpected complexities to inexperienced property owners throughout the seasons. Every season poses a unique set of challenges. The property you oversee must be ready for any weather condition, regardless if you’re encountering winter snow or summer winds. Managing apartment buildings, or an office, retail, or warehouse space?

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Yolo Solano Appraisal Blog

SEPTEMBER 25, 2020

Six months after the Covid-19 stay-at-home order hit Yolo County, what’s happened to residential real estate in local markets? Sales activity in Davis was low at the start of 2020 before the pandemic hit and continued into the spring with a massive drop in May. As shown below, Davis is way behind in sales compared […].

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Marketing Real Estate Sellers Buyers 128

McKissock

SEPTEMBER 23, 2020

Quality tenants—those who pay on time, take care of the property, and follow the rules of their lease—are a rental property manager ‘s dream. After all, finding new tenants is expensive and time-consuming. The cost of advertising, showing the property, screening potential tenants and more eats into landlords’ profits, especially as the property sits vacant.

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Property Management Tenants Landlords Advertising 98

Housing Wire

SEPTEMBER 23, 2020

United Wholesale Mortgage , the largest wholesale lending firm in the country, is joining the blank-check company craze and will make its public debut via an acquisition. The Detroit-headquartered UWM will merge with businessman Alec Gores’ special purpose acquisition company (SPAC) Gores Holdings IV Inc in a deal that will value the new UWM at $16.1 billion, the company said in a statement Wednesday morning.

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Mortgage Lending Business Inventory 542

The Robert Weiler Company

SEPTEMBER 25, 2020

If you own several properties (or even just one), the chances are that you don’t have much time on your hands. That’s why a property management company is the perfect solution for commercial real estate owners like you! Owning commercial property is a considerable undertaking. As an investor, you must ensure that your real estate appreciates by making smart improvements.

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Property Management Tenants Real Estate Inspection 143

McKissock

SEPTEMBER 22, 2020

McKissock’s Unlimited Learning Members enjoy 24/7 access to a wide variety of online appraisal classes, webinars, videos, podcasts, checklists, job aids, and other resources. Plus, we’re adding to our library each month so that you get the most current and relevant information to grow your real estate appraisal career. Do you already have an Unlimited Learning Membership ?

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Housing Wire

SEPTEMBER 21, 2020

The housing and mortgage markets have been the rare bright spots in an otherwise fragile economy brought forth by the ongoing COVID-19 pandemic. Mortgage origination volume this year is on track to be the highest in more than 15 years, led by a strong wave of refinances. Just how busy have lenders been? 2003 was the last time refinance activity was as high as the $1.75 trillion MBA is forecasting for 2020.

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Government Mortgage Marketing Housing Market 542

The Robert Weiler Company

SEPTEMBER 23, 2020

Owning commercial property is a huge responsibility. Most building owners and multi-family real estate investors don’t realize that property management companies can completely relieve them of the day-to-day administration of property, prospects, and tenants. The ability to outsource oversight and stewardship of commercial property removes a considerable burden of responsibility, allowing CRE owners more time to focus on generating ROI on current and future investments.

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REX Real Estate

SEPTEMBER 21, 2020

There’s nothing that can squash a deal faster than a bad home inspection.

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McKissock

SEPTEMBER 20, 2020

As a real estate agent, your income is determined by your ability to close the deal. Therefore, negotiation skills are essential. To successfully master the art of real estate negotiations, you’ll want to find the most creative and powerful strategies available. To help you out, we’ve put together a list of the eight best negotiation books for real estate agents.

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Housing Wire

SEPTEMBER 23, 2020

Despite mortgage rates rising slightly from a previously all-time low, mortgage applications gained 6.8% last week, according to a report from the Mortgage Bankers Association. The refinance index continued its upward climb, gaining 9% last week and jumping 86% higher than the same week one year ago. Refinances also nearly reached two thirds share of mortgage activity last week, increasing to 64.3% of total applications from 62.8% the week prior.

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Housing Market Mortgage Contracts Marketing 536

Simonson Real Estate

SEPTEMBER 25, 2020

Since the onset of COVID, market data remains sparse for certain property types. The team at Simonson Appraisals has found that one of the best tools we have to overcome this challenge while continuing to produce reliable and credible appraisals is speaking with owners, lenders and other market participants dealing with the different segments of commercial real estate.

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REX Real Estate

SEPTEMBER 25, 2020

Earlier this spring, when the COVID-19 pandemic forced many people to stay at home,…

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Home Improvement 36

McKissock

SEPTEMBER 25, 2020

Title XI of the FIRREA requires all licensed and certified appraisers to successfully pass an examination that’s issued or endorsed by the Appraiser Qualifications Board (AQB) of The Appraisal Foundation. That examination is known as the National Uniform Licensing and Certification Exam. Once you’ve completed your education requirements, you must pass the national exam as the final step toward earning your appraisal license.

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Housing Wire

SEPTEMBER 21, 2020

U.S. homeowners with mortgages witnessed a 6.6% year-over-year increase in their equity in the second quarter of 2020 – representing a cumulative gain of $620 billion for the nation and an average $9,800 hike in equity per homeowner, according to a new report by CoreLogic. Record-low mortgage rates and constricted sale inventory cast the perfect storm for home prices which rose 4.3% annually through June ultimately bolstering the increase in home equity, CoreLogic said in its home equity report.

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Mortgage Inventory Marketing 504

Boston Appraisal

SEPTEMBER 22, 2020

The backbone of any real estate appraisal is the highest and best use analysis. All properties have a highest and best use – and this is not always the current use. There are four qualifiers that help to determine the highest and best use of a property. The use of a property must be… Legally Permissible. Physically Possible. Financially Feasible.

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REX Real Estate

SEPTEMBER 24, 2020

Unlike other home styles I have written about in this series, Feng Shui is…

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Design 31

Appraisal Hub

SEPTEMBER 24, 2020

Appraising the value of a commercial real estate property is never an easy task. There are many things to consider, such as the current market price, rental rate, and how much the buyer is willing to pay. If this is your first time selling or leasing a property, there are many appraisal services in Toronto that can help you. Here are commonly used valuation methods to give you an idea of what a property appraiser might use: Value per Unit – This method generally applies to apartment buildi

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Valuation Real Estate Appraisal Property Appraisal 78

Housing Wire

SEPTEMBER 22, 2020

Ginnie Mae , the government-owned corporation that securitizes loans backed by the Veterans Administration and the Federal Housing Administration , said it won’t accept adjustable-rate mortgages benchmarked to the London Interbank Offer Rate, or LIBOR, starting in January. For home equity conversion mortgages, known as reverse mortgages, the ban starts Jan. 1.

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Mortgage Government Investors Finance 469

Boston Appraisal

SEPTEMBER 22, 2020

The backbone of any real estate appraisal is the highest and best use analysis. All properties have a highest and best use – and this is not always the current use. There are four qualifiers that help to determine the highest and best use of a property. The use of a property must be… Legally Permissible Physically Possible Financially Feasible Most Productive The goal of the real estate appraiser is to identify the use of the property that will be the absolutely most profitable use within

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Legal Real Estate Retail Development 78

REX Real Estate

SEPTEMBER 23, 2020

Media Contact: press@rexhomes.

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Real Estate Housing Market Marketing 36

Property Metrics

SEPTEMBER 19, 2020

There is a wide spectrum of lease types in commercial real estate. To make it easier to communicate with others, it is not uncommon for complicated leases to be described using simple language. The ‘double net lease’ in commercial real estate is a term that describes a certain type of lease agreement, but it’s not always as simple as it might sound.

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Tenants Landlords Property Taxes Real Estate 69

Housing Wire

SEPTEMBER 22, 2020

Just two months after its public debut , Rocket Companies is looking to bulk up its wholesale operation by sweetening the pot for mortgage brokers. The Detroit-based firm, which began 35 years ago as a mortgage broker shop in southeast Michigan, is rebranding Quicken Loan Mortgage Services to Rocket Pro TPO. Included in the rebranding is an entirely new, white-labeled broker-branded origination hub that will provide e-signature technology, visibility into loan status and the ability for applican

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Technology Tools Mortgage Business 450

Housing Wire

SEPTEMBER 21, 2020

The Office of the Comptroller of the Currency said on Monday it had settled with three former Wells Fargo executives for their roles in the bank’s fake-account scandal. The settlements include a $925,000 penalty to former Community Bank Group Finance Officer Matthew Raphaelson, a $400,000 fine to the former Head of Community Bank Deposit Products Group Kenneth Zimmerman; and a $350,000 penalty to the former Head of Community Bank Human Resources Tracy Kidd, the OCC said in a statement.

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Housing Wire

SEPTEMBER 21, 2020

The Federal Reserve approved a revamp of the anti-redlining rules known as the Community Reinvestment Act, or CRA, in a live-streamed meeting on Monday morning and gave 120 days for community and industry feedback. The move comes four months after Joseph Otting, head of the Office of the Comptroller of the Currency , stepped down a day after releasing his controversial reforms of CRA.

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Modernization Law Insurance Finance 441

Housing Wire

SEPTEMBER 23, 2020

Call it what you want – a disruption, a revolution, a transformation or perhaps a thorn in your side, there is no denying the pandemic has stirred the housing industry in all its sectors. How companies adapt and pivot while fostering their teammates’ growth may very well decide who will be on the right and wrong side of history after the gloves – and masks – come off.

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Housing Wire

SEPTEMBER 22, 2020

HousingWire recently spoke with Keith Murray, president and CEO of VRM Mortgage Services, about the importance of diversity in an organization and how VRM has continued to serve its clients in an unusual year. HousingWire: The term we keep hearing to describe 2020 is “unprecedented.” How has VRM continued to serve its clients in such unusual times? Keith Murray: VRM has always taken a community-first approach to serving the needs of our clients.

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Housing Wire

SEPTEMBER 21, 2020

March 2020 is a month the real estate industry will never forget. In a moment’s notice the “nice to have” tasks on our to-do lists became the new crises du jour. Over the course of a few days, much of the private real estate sector transitioned from office buildings to home offices. The most prepared companies had pandemic and business continuity protocols in place.

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Housing Wire

SEPTEMBER 21, 2020

After hiring 120 underwriters in the past 90 days, Evolve Mortgage Services announced on Monday the company plans to fill another 100 permanent underwriter positions for agency and non-QM loans by the end of the year. Evolve’s announcement is timely as several housing executives noted companies are struggling to staff oper a tions divisions with underwriters, appraisers and notaries.

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Housing Wire

SEPTEMBER 24, 2020

For the second consecutive month , the total percentage of accounts in “financial hardship” for auto, credit card, mortgage and personal loans fell across the board in August, according to a consumer credit snapshot by TransUnion. In particular, the percentage of accounts with mortgage loans in financial hardship declined below 6% for the first time since April to 5.92% in the month of August.

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Mortgage 410

Housing Wire

SEPTEMBER 24, 2020

Sales of new houses in August rose to 1.001 million at a seasonally adjusted and annualized pace, the Commerce Department said on Thursday – the first time the number has broken 1 million in 14 years. The number shows that while other sectors of the economy are soft, housing is ready to play its traditional countercyclical role of leading the way out of a recession, said Robert Dietz, chief economist of the National Association of Home Builders.

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Mortgage 419

Housing Wire

SEPTEMBER 24, 2020

HousingWire recently spoke with Sutherland Mortgage Services President Krish Swaminathan about the next wave of servicing, how servicers can best communicate with their customers and the technology available to help with compliance even in a work-from-home environment. HousingWire: What are servicers most concerned about in today’s environment? Krish Swaminathan: Servicers are most concerned about what’s going to come down the pipe in a few months.

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Technology Tools Clients Business 397

Housing Wire

SEPTEMBER 22, 2020

It’s really easy to get caught up in the moment in the mortgage industry. During this particular moment, the prevailing thought is “throughput!” It’s no secret that much of our space is busy trying to push mortgage loans through the pipeline without losing them as their sales funnels overflow. So who could possibly be thinking about compliance right now, except maybe, compliance officers?

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