It’s vital to understand the terms “earnest money” and “contingencies” when house hunting. Earnest money is paid up-front as a show of good faith when you make an offer on a home. It is held by an escrow company until
Spring housing market forecast: record purchase volume
The sun is shining as I write this today and the forecast is for warmer weather. While others might think of restarting outdoor activities or working in the garden, our industry is gearing up for a strong spring housing market
Will higher mortgage rates cool the housing market?
Can you smell it in the air? America is back! The last plank required to complete the foundation of my “America is Back Economic Recovery” model was for the 10-year yield to start trading in the range of 1.33% to
Is Q1 the last quarter to ride the mortgage refinance wave?
Lenders may have one last quarter to ride the market’s massive mortgage refinance wave after Monday data from Black Knight’s Mortgage Monitor Report revealed that despite rising interest rates, Q1 2021 refinance lending volumes are poised to remain near last
Is It a Good Time to Sell My House?
Courtesy of Keeping Current Matters – March 4, 2021 Last year, many homeowners thought twice about selling their houses due to the onset of the health crisis. This year, however, homeowners are beginning to regain their confidence when it comes to selling safely. The latest Home Purchase Sentiment Index (HPSI) by Fannie Mae shows that 57% of consumers believe now is a […]
CFPB delays QM compliance date to October 2022
The Consumer Financial Protection Bureau released a notice of proposed rulemaking on Tuesday to delay the mandatory compliance date of the Qualified Mortgage final rule from July 1, 2021 to October 1, 2022. “At a time when so many consumers
Plaid unveils Income to aid customer finance
Fintech company Plaid has announced the release of Income, a beta product looking to simplify income verification so customers can secure loans, qualify for mortgages, rent apartments, lease vehicles, and more. The company said Income can also be used by
FHFA extends multifamily forbearance through June 30
Multifamily property owners who are struggling to make mortgage payments due to the coronavirus pandemic now have a reprieve through the end of June for mortgages backed by Fannie Mae and Freddie Mac, the Federal Housing Finance Agency announced on Friday. Forbearance options for multifamily mortgages
CFPB delay of QM rule implementation is a terrible move
As reported yesterday, The Consumer Financial Protection Bureau released a notice of proposed rule-making that would “delay the mandatory compliance date of the general qualified mortgage rule 15 months to Oct. 1, 2022.” The bureau said: “extending the mandatory compliance
3 Reasons You Should Invest in Recessed Lighting Before Listing Your Home
Having the right lighting in your home is important in more ways than one. Not only can the right lighting improve the way your home looks and feels, but it can also increase the value of your home. Whether you
Stewart continues acquisition frenzy with Signature snag
In a continued attempt to streamline the customer experience, Stewart Information Services Corp. announced that it acquired Signature Closers. Stewart did not disclose the financial terms of the deal. Stewart officials said the acquisition “strengthens its digital strategy” that is
UWM to block brokers working with Fairway and Quicken
United Wholesale Mortgage, the top wholesale lender in the nation, announced on a Facebook live Thursday that it will no longer partner with brokers who also work with Rocket Mortgage and Fairway Independent Mortgage Corp. Mat Ishbia, president and CEO
Salt Lake City Real Estate Market & Investment Overview
Housing data by Salt Lake Board of Realtors®. The forecast is an estimate based on data from multiple sources. While it is deemed reliable, it is not guaranteed. The pandemic has supercharged Utah’s housing market driven by historically low interest
The Home Appraisal Process: What Homebuyers and Sellers Should Know
There are many important steps to buying or selling a house. One aspect that homebuyers and sellers often have questions about is the home appraisal process and how it impacts them in regards to the home sale. It’s important for
What is a Reverse Mortgage and How Does it Work?
If you’ve lived in your current home for many years, you may reach the point where you’ve made your final mortgage payment or are very close to paying off the house. Congratulations – this is a major accomplishment in the
Tighter enforcement environment won’t just affect lenders
2021 is already shaping up to be a vastly different year than 2020 for the mortgage and real estate industry, and it’s not only because we’re entering a purchase market. All indications are that compliance and enforcement will again move
For the first time since July, mortgage rates pass 3%
The average mortgage rate for a 30-year fixed loan rose 5 basis points last week to 3.02%, marking the first time since July that the industry has seen rates break above 3%, according to Freddie Mac’s Primary Mortgage Market Survey. Since reaching a low
When Do I Need a Building Permit for Home Improvements?
When you choose to make improvements to your home, you probably think about design and decor options, paint colors, if the project will increase your property value, or if you’ll need to hire anyone to help you with the job.
Mike Cagney is looking to buy a mortgage company, or two
Figure Technologies CEO and co-founder Mike Cagney never intended to build a mortgage lending company. Upon leaving SoFi, Cagney and the founding team at Figure were laser-focused on applying blockchain technology to financial services. But now, with proof of concept
Preparing to Sell Your Home? Here’s How to Make Sure Your House Attracts Multiple Buyers
Preparing to sell your home is a big task. And even if it’s a seller’s market and homes are flying off the shelves, this doesn’t mean yours is guaranteed a quick sale. In fact, a home in need of some
Power of Social Media Leveraging Your Online Presence to Drive Growth
When it comes to truly standing out in today’s hyper competitive real estate market, one of the most important factors an agent should consider is their digital footprint. Social media platforms have become an integral part of the real estate
11 Stunning Million Dollar Dream Homes On the Market Today
Have you ever wondered what type of home a million dollars could get you these days? The answer will likely vary state-to-state. In Evergreen, CO you might find a large log cabin nestled on acres of land and sprawling greenery.
David Stevens and Kris Kully to speak at Spring Summit
The regulatory landscape has shifted quickly under President Biden. To discuss just what that means for those in the housing economy, Kris Kully, a partner at Mayer Brown, and David Stevens, the former CEO of the Mortgage Bankers Association, will
Ghosting on Walls and Ceilings: What is it and What to Do About it?
Oftentimes, inspectors and contractors will receive phone calls from homeowners who describe a mold problem that has recently developed on the walls and ceilings of their homes. Usually, they describe the mold patterns as black stains or spots on the