Housing Wire
DECEMBER 11, 2020
2020 was a truly unprecedented year. With it behind us, let’s look ahead at several housing market trends that are likely in 2021 and beyond. First, exceptionally low mortgage rates are likely to be around for an extended period. The Federal Reserve is expected to continue an accommodative monetary policy and keep the federal funds target below 0.25% through 2022.
Glascock Company
DECEMBER 11, 2020
If you are looking to sell your property, you’ve probably wondered whether to list it for sale by owner (FSBO) or through a realtor. While there are plenty of benefits to both, there is one alternative that could flip the sale faster and without much stress on you as the seller. Auctions are one of the most expedient ways to sell real estate (both commercial and residential) while still allowing the seller to maintain total control over the transaction.
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McKissock
DECEMBER 8, 2020
So, you’re interested in becoming a real estate appraiser. But how do you know if you’re a good fit for the appraisal profession? What does it take to achieve success in the industry? To help answer these questions, we’ve outlined eight characteristics of a successful real estate appraiser. If you possess all or most of these personality traits, chances are, you’d make an excellent appraiser.
Listing Spark
DECEMBER 9, 2020
One of the most common questions we get from our home sellers at ListingSpark is “How do I determine what my closing costs are”? For this article, we are going to focus on the home seller closing costs we would typically see in Texas with a residential sale (commercial sales typically have a different set of fees). This could easily differ from state to state, but we find most markets in Texas tend to be similar.
Housing Wire
DECEMBER 11, 2020
Mortgage giant Fannie Mae extended its relaxed lending and appraisal standards put in place due to COVID-19 into the new year. The flexibilities surrounding verbal verification of employment and appraisals were originally set to expire on Dec. 31, 2020, however Fannie Mae is now pushing that back to at least Jan. 31, 2021. “We are extending the temporary flexibilities related to verbal verifications of employment and power of attorney to loans with application dates on or before Jan. 31, 2021 fr
Willowbrook Valuation
DECEMBER 8, 2020
Over the last several months, this blog series has outlined the impact of COVID-19 on various property types across the country. As you might expect, it was difficult to find reasons for optimism for some industries in such an uncertain time. Luckily, that’s all behind us! In this blog, we discuss the shining star of […]. The post Assessing the Impact of COVID-19 on: Warehouses appeared first on Willowbrook Valuation & Advisory Services.
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REX Real Estate
DECEMBER 7, 2020
Deciding whether to buy or rent is a decision most people have to make…
Housing Wire
DECEMBER 9, 2020
HW Media, publisher of HousingWire, FinLedger, and producer of Engage Events, today announced it has closed on the strategic acquisition of REAL Trends, the residential real estate industry’s leading report that ranks the performance of the top U.S. brokerage firms. REAL Trends will continue to publish the REAL Trends 500, The Thousand, and Website Rankings reports on an annual basis, as well as produce the Gathering of Eagles and DealMAKERS events.
Housecall
DECEMBER 9, 2020
Great Tips! Every little bit that seller can do to help in the valuation is extremely important!
McKissock
DECEMBER 7, 2020
Generating real estate leads online is a daunting task for many real estate agents who may not know where to begin. When it comes to finding leads and bringing in new business, online technology is a fantastic tool. In this article, we bring you seven actionable ways you can start to generate real estate leads today: 1. Real estate website. At Raleigh Realty , our website generates over 30,000 web visitors a month and often ranks above the national billion-dollar companies like Zillow , Trulia ,
REX Real Estate
DECEMBER 9, 2020
It’s official – we could all use an extra dose of “cozy” this winter.
Housing Wire
DECEMBER 7, 2020
Mr. Cooper , the nation’s largest nonbank servicer of mortgage loans, will refund customers nearly $90 million and pay a civil penalty of more than $6.5 million to settle a lawsuit claiming it violated the rights of over 115,000 customers, some of whom it had illegally foreclosed on. When Mr. Cooper – then known as Nationstar – bought thousands of mortgages through MSR bulk purchases, it frequently failed to identify loans with existing modifications, according to the lawsuit, which was fi
AmeriMac
DECEMBER 10, 2020
If you’ve been doing some reading around the real estate world, chances are you’ve seen the word ‘AMC’ somewhere. But do you know what this means? Whether you’re a commercial real estate agent or a residential one, you’re going to greatly benefit from utilizing an appraisal management company (AMC). But before signing off with an appraisal management company, it is essential you know why real estate brokers need them.
McKissock
DECEMBER 8, 2020
McKissock Real Estate is now seeking participants for the 2020 State of the Real Estate Profession survey. Your insights will help us produce our third annual State of the Real Estate Profession report that will feature actionable insights on how to grow your real estate business. You will also be automatically entered to win one of three $500 VISA gift cards at the end of the survey.
Housing Wire
DECEMBER 7, 2020
As we look ahead to 2021, we remember that this year, the housing market has continued to remain a bright spot in the economy, even as other areas continue to struggle amid stay-at-home orders and economic shutdowns. COVID-19 threw the economy for a loop in 2020. In fact, this year seemed to prove anything is possible. From wildfires to hurricanes, the pandemic to murder hornets and a deeply divisive political campaigning season that drove record-setting voter turnout, 2020 did everything but fo
Housing Wire
DECEMBER 10, 2020
Despite slightly higher Treasury yields, mortgage rates held steady at record lows this week, according to a survey by Freddie Mac. Rates remained at last week’s level of 2.71% for the 30-year fixed rate mortgage, according to Freddie Mac’s Primary Mortgage Market Survey. “Mortgage rates remain at record lows, resisting their typical correlation to Treasury yields, which have recently been moving higher,” Freddie Mac Chief Economist Sam Khater said.
Housing Wire
DECEMBER 9, 2020
Lonnie Glessner isn’t normally one to turn down business. But with origination volume expected to exceed $3.4 trillion this year, stretching the capacity limits of lenders and everyone else in the housing ecosystem, some mortgage applicants simply haven’t been worth his while. “I have a refinance client in California and they own a geodesic dome home,” said Glessner, a senior loan officer at Draper & Kramer Mortgage in Englewood, Colorado. “They are nearly impossible to finance, thus n
Housing Wire
DECEMBER 10, 2020
Since the pandemic caused many employers to shift employees to working from home – some indefinitely – homeowners have left cramped spaces in large cities and retreated to more urban and rural areas with bigger homes at a lower cost. At the National Association of Realtors Real Estate Forecast Summit on Thursday, NAR’S Chief Economist Lawrence Yun explained that although many are working from home now, he doesn’t expect that change to be permanent.
Housing Wire
DECEMBER 11, 2020
With the COVID-19 pandemic forcing people to work remotely , downsize, or employ alternative money-saving techniques, the flexibility of a tiny home has never been more attractive to consumers. A survey of 2,000 consumers by finance company IPX 1031 , released in December, found that 56% of Americans say they would live in a tiny home and 86% of first-time homebuyers would consider one for their first home. .
Housing Wire
DECEMBER 9, 2020
Even as the pandemic nears its end, its impact on the way we work and live will in many ways be permanent, and Americans will migrate to homes that fit their new lifestyles. We already saw much of this movement in 2020, as home sales surged over 20% this fall, but many homeowners were nervous about listing during the pandemic and will be ready to sell in droves next year.
Housing Wire
DECEMBER 10, 2020
The Des Moines housing market has had a record-setting year for home sales, which local Realtors credit to low mortgage rates, the work from home phenomenon and Des Moines’ affordable lifestyle. In October, home sales in Des Moines soared 34% compared to last year, with 1,547 sold properties compared to 1,150 in 2019, according to the Des Moines Area Association of Realtors.
Housing Wire
DECEMBER 11, 2020
The Consumer Financial Protection Bureau on Thursday issued its final rulings on qualifying mortgages, claiming the new rules will support a “smooth and orderly transition” away from the “QM Patch , “ and also expand access to credit. One of the two rules the bureau implemented finalizes a June decision to establish a pricing threshold that effectively replaces the current debt-to-income limit of 43%, which some lenders and investors have called too restrictive.
Housing Wire
DECEMBER 10, 2020
The secondary market, often an afterthought for most participants in the mortgage process, took center stage in 2020. Think of it as the underdog quickly becoming the hero of the story. It was always there working hard in the background, just waiting for a year as unpredictable as 2020 to come to the rescue. But to understand the stability that the secondary market brought during a world-wide pandemic, you first have to look back at 2008.
Housing Wire
DECEMBER 8, 2020
Digital lender SoFi is the latest firm to explore an independent public offering , according to a new report. SoFi, headquartered in San Francisco, has held talks with a number of blank-check companies to go public, according to CNBC. The lender was last valued at $4.8 billion after a funding round last year. While it is best known for refinancing student loans, the startup also offers a variety of other financial products, including personal loans, small business loans, home equity loans and mo
Housing Wire
DECEMBER 11, 2020
Through every financial transaction in a person’s life — whether a mortgage, auto, student or personal loan — there is one constant: the borrower. Yet borrowers have had limited agency in the lending process to date. Lenders have always controlled access to borrowers’ ability to pay (ATP) information and, by extension, the transaction as a whole. And because lenders only collect borrower data at a specific point in time — typically, during loan qualification or underwriting — their understanding
Housing Wire
DECEMBER 8, 2020
On the same day that Mr. Cooper announced it had reached a $91 million settlement over claims about it illegally foreclosing on borrowers, the Justice Department announced separate settlements over servicing errors with Mr. Cooper , U.S. Bank and PNC Bank. In all, the Justice Department said the three lenders didn’t comply with federal bankruptcy procedures, which affected a total of 76,000 accounts beginning in 2011. “The failure of mortgage servicers to comply with those requiremen
Housing Wire
DECEMBER 9, 2020
The Supreme Court heard arguments Wednesday over whether it should find the structure of the Federal Housing Finance Agency unconstitutional and void an agreement it struck with the Treasury Department over revenue from the companies it oversees, Fannie Mae and Freddie Mac. The plaintiffs in the case, Collins v. Mnuchin , have raised a $124 billion claim against the federal government, essentially arguing that the FHFA, which was created in the wake of the 2008 housing crash, acted illegally whe
Housing Wire
DECEMBER 8, 2020
Stewart Information Services Corp. announced it will broaden its digital offerings with its acquisition of NotaryCam , a top online notarization provider and mortgage eClosings solutions provider. “Stewart and NotaryCam have been partners for years in the digital and eClosing space, leading innovation and change for real estate closings across the country,” Stewart CEO Fred Eppinger said.
Housing Wire
DECEMBER 10, 2020
Digital title company JetClosing is opening its fifth office in Austin. With the announced move to Austin, JetClosing now has offices in Denver, Las Vegas, Phoenix, Seattle and is active in Arizona, Colorado, Florida, Nevada, Pennsylvania, Texas and Washington. The cloud-based platform, headquartered in Seattle, used for closing on a home in-person or remotely, has seen an increase in use in 2020 with the demand for non-contact closings skyrocketing.
Housing Wire
DECEMBER 10, 2020
Airbnb shares more than doubled in its public debut on Thursday, per the Wall Street Journal, after opening trading at $146 on the Nasdaq Stock Market – higher than its initial-public-offering price of $68 a share. The opening trade valued Airbnb at $101.6 billion, versus its IPO valuation of roughly $47 billion. That makes Airbnb the biggest U.S.
Housing Wire
DECEMBER 11, 2020
OJO Select Network. The OJO Select Network, OJO Labs’ newly-launched exclusive referral network for top-producing agents, helps grow your business by providing introductions to homebuyers and sellers who are ready to speak with an agent. All referrals are screened to ensure quality, and OJO’s team facilitates warm introductions and provides support to both the homebuyer and agent from introduction to close. #1.
Housing Wire
DECEMBER 8, 2020
Mortgage lenders are preparing for the end of LIBOR , which is set to be phased out by the end of 2021. Financial institutions have been searching for alternatives since regulators in the United Kingdom stated that LIBOR cannot be guaranteed beyond next year. LIBOR is commonly used in setting the interest rate for many adjustable-rate consumer financial products and its end will affect adjustable and variable rate loans, reverse mortgages, credit cards, home equity loans, and adjustable-rate mor
Housing Wire
DECEMBER 9, 2020
Command. Command is a smart CRM-plus suite of apps hosted on the Keller Cloud. Command was developed in partnership with real estate agents within KW Labs, the innovation hub of Keller Williams, the world’s largest real estate technology franchise by agent count. Command has 143,104 active users, as of September 30. #1. Command, a smart CRM-plus suite of apps hosted on the Keller Cloud, now has 143,104 active users, as of September 30. #2.
Housing Wire
DECEMBER 9, 2020
The Mortgage Bankers Association reported that applications decreased 1.2% during the week ending Dec. 4 in its latest weekly survey — the second straight week of application decreases. The refinance index and the unadjusted purchase index did increase, however, jumping 2% and 29% respectively from the previous week. The refinance index is up 89% from the previous year, according to Joel Kan, MBA’s associate vice president of industry and economic forecasting.
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