Embracing the science of income analysis: Despite the ever-increasing pressures in this area, most #lenders still approach income by leaving it up to the underwriter to pull everything together. If technology can improve processes in so many areas of #mortgage banking, why can’t it add efficiency to one of the most traditional aspects of the loan process, income calculation? http://www.housingwire.com/articles/35706-embracing-the-science-of-income-analysis
Economies of scale: Why consolidation may be just what SFR needs: On the multi-borrower side, the potential for volume is massively larger than on the single-family side, but the challenge until now has always been on how to scale this side of the business. http://www.housingwire.com/articles/35707-economies-of-scale-why-consolidation-may-be-just-what-sfr-needs
The next big thing in SFR: Lending to landlords: Tighter regulation and higher risk aversion — both to actual risk and to headline risk — in the world of mainstream lending mean that despite the opportunity available with SFR investors, traditional #lenders have by and large not jumped on this opportunity. That leaves these nontraditional national #lenders a bigger share of the pie in a market that in the past has been largely the domain of local and regional hard-money #lenders. http://www.housingwire.com/articles/35709-the-next-big-thing-in-sfr-lending-to-landlords
Trailblazers: Tavant Technologies: Tavant adds flexibility to its clients’ business and technology initiatives by keeping their investments in large enterprise systems (such as an LOS) intact and providing a “surround and extend” strategy and infrastructure that allows them to provide unique business differentiators to their customer base. http://www.housingwire.com/articles/35724-trailblazers-tavant-technologies
5.8 million foreclosures, and counting: Over the past eight years, housing counselors and the #mortgage servicing industry have learned a lot, and it’s our joint responsibility to avoid the mistakes of the past, to maintain momentum, and to create new pathways for homeowner-centric loss mitigation practices that have sustainable homeownership as the No. 1 objective. http://www.housingwire.com/articles/35704-article-headline
2015 HW Vanguard Award winners: All of the sectors of the housing economy now — real estate, lending, servicing and investing — are navigating unchartered territory. The challenges are new and the processes scrutinized as never before. Against that backdrop, we at HousingWire thought it was appropriate to recognize the tremendous leadership within the #mortgage space with our first annual HW Vanguard Awards. Companies in our business couldn’t have survived the crisis, or formed in this brave new world, without serious leadership. http://www.housingwire.com/articles/35668-hw-vanguard-award-winners-Paul-Anastos
Hot Seat: Patrick Nackley of Superior Home Services: We don’t want servicers to get shorted on pricing, depreciation, being paid overhead and profit. If you are maximizing the value of each settlement and anticipating using that money to repair, you are reducing the incidents of corporate contribution. http://www.housingwire.com/articles/35701-article-headline
Tech Innovator: Centric Technology Solutions refines the appraisal process: For appraisers, the platform’s embedded guidelines mean fewer revisions, so they can not only complete more valuations, but do so with greater clarity. New appraisers can be brought on board quickly with educational opportunities built into the platform, which could shorten the appraiser’s learning curve by 60% to 80%. http://www.housingwire.com/articles/35703-tech-innovator-centric-technology-solutions-refines-the-appraisal-process
Company Spotlight: #lenderLive: As a true end-to-end solutions provider, #lenderLive specializes in enabling key functions for a #lender’s organization including loan origination, document management and document preparation, settlement services, loan servicing, due diligence and operational compliance. Moreover, #lenderLive’s expansion into loan subservicing comes at the right time for #mortgage companies, banks and credit unions looking for help with subservicing. #lenderLive offers these companies a complete subservicing solution enabling these #lenders to benefit from #lenderLive’s scale. http://www.housingwire.com/articles/35710-company-spotlight-lenderlive
What’s driving #mortgage lending behavior?: That #lenders may be holding back a bit is not surprising as lessons from behavioral finance studies suggest that individuals tend to weight recent experience more than the past. Applied to the #mortgage business and compounded by rising compliance costs, recent experience with heavy credit losses of the crisis could be dampening management enthusiasm for credit expansion in an otherwise expanding, albeit tepid economy. http://www.housingwire.com/articles/35705-whats-driving-mortgage-lending-behavior
TRID is a real obstacle to #mortgage process: Despite reports saying that TRID hasn’t caused any major lending delays, the key word in all the reports is ‘yet.’ http://www.housingwire.com/articles/35728-trid-is-a-real-obstacle-to-mortgage-process
Buy this super-green California home, get a free Tesla: Over the years, we’ve seen some creative efforts when it comes to trying to sell a home. About this time last year, the owner of a 16,000-square-foot mansion in Dallas offered up a free 2015 Bentley to the real estate agent or Realtor who secured a buyer for their home – in addition to their normal commission. But a new listing in California takes the automobile sweetener to a higher, and greener, level. http://www.housingwire.com/articles/35727-buy-this-super-green-california-home-get-a-free-tesla
Kal Raman resigns as CEO of Nationstar’s Xome: In the last year, Nationstar #mortgage has transformed Solutionstar, one of the company’s wholly owned subsidiaries, into Xome, which boasted that it offered consumers a one-stop shop for the entire real estate experience. Nationstar tasked Kal Raman with shepherding that transition, adding Raman as CEO of Solutionstar in Nov. 2014. But now, just over one year after he took over Solutionstar, Raman is resigning. http://www.housingwire.com/articles/35726-kal-raman-resigns-as-ceo-of-nationstars-xome
HUD watchdog issues warning on fraudulent, inflated reverse #mortgage appraisals: In the run-up to the financial crisis, fraudulent appraisal schemes ran rampant in the housing industry, eventually leading to the complete overhaul of the property appraisal system and the rise of appraisal management companies. As it turns out, schemes like that have not been completely forced out of the industry. http://www.housingwire.com/articles/35725-hud-watchdog-issues-warning-on-fraudulent-inflated-reverse-mortgage-appraisals
Fed adopts new rule limiting ‘too big to fail’ bailouts: Amid pressure from Congress to rein in its power to prop up a troubled financial institution, the Federal Reserve did just that Monday, adopting a new rule that will limit its ability to bail out failing financial institutions. http://www.housingwire.com/articles/35721-fed-adopts-new-rule-limiting-too-big-to-fail-bailouts
Inventory shortages restrict growth in pending home sales: Pending home sales barely moved in October as the housing market starts to flatline in the fall. A main cause and concern behind the drop: inventory shortages. http://www.housingwire.com/articles/35719-inventory-shortages-restrict-growth-in-pending-home-sales
Here’s how Chinese #homebuyers are reshaping U.S. housing: Chinese money is becoming a major force in real estate around the world and in America. A new luxury development 35 miles northwest of Dallas is only the latest frontier for Chinese buyers. http://www.housingwire.com/articles/35715-heres-how-chinese-homebuyers-are-reshaping-us-housing
To acquire or not to acquire?: Stories of firms beating their own 2015 projections are widespread, which means the gaze for 2016 is shifting to future growth. It’s possible you are considering the on-boarding of new branches as a way to keep filling your origination coffers. It only takes one branch manager or regional manager changing employers to influence the migration of entire origination teams and change a firm’s future outlook. http://www.housingwire.com/articles/35713-to-acquire-or-not-to-acquire
Rent vs. Buy: Either Way You’re Paying A #mortgage: 
There are some people that have not purchased a home because they are uncomfortable taking on the obligation of a #mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a #mortgage - either your #mortgage or your landlord’s.
As The Joint Center for Housing Studies at Harvard University explains:
“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return.
That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”
Christina Boyle, a Senior Vice President, Head of Single-Family Sales & Relationship Management at Freddie Mac, explains another benefit of securing a #mortgage vs. paying rent:
“With a 30-year fixed rate #mortgage, you’ll have the certainty & stability of knowing what your #mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.”
As an owner, your #mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.
The graph below shows the widening gap in net worth between a homeowner and a renter:
Bottom Line
Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, owning might make more sense than renting with home values and interest rates projected to climb. http://www.simplifyingthemarket.com/2015/11/30/rent-vs-buy-either-way-youre-paying-a-mortgage/?a=242769-4eb2112ad1caac540e99a63dd199d5ed
[Charts] Here are the home price breakdowns in the 10 largest states: As a whole, home prices barely increased, growing 0.1% in September. However, going a little deeper, these charts show what is going on in the 10 largest states. http://www.housingwire.com/articles/35698-charts-here-are-the-home-price-breakdowns-in-the-9-largest-states
Monday Morning Cup of Coffee: 10 commandments for #mortgage loan officers: As the Thanksgiving holiday wraps up and the housing industry gears up for the end of the year, these two loan officers from Solano #mortgage published a hysterical piece on the Ten Commandments of applying for a home #mortgage. Meanwhile, are you looking at the big picture when you choose to renovate your home? If not, it could cost you. http://www.housingwire.com/blogs/1-rewired/post/35708-monday-morning-cup-of-coffee-10-commandments-for-mortgage-loan-officers
Citigroup sued over billions in #mortgage debt losses: Top banks are still dealing with the aftermath of the financial crisis. In the most recent court battle, Pacific Investment Management Co and other investors have sued Citigroup over the bank’s alleged failure to properly monitor toxic securities backed by more than $13.8 billion in #mortgage loans. http://www.housingwire.com/articles/35700-citigroup-sued-over-billions-in-mortgage-debt-losses
The missing question in Yellen’s Congress discussion: Federal Reserve Chair Janet Yellen achieved the primary goal of any new Fed chief and avoided any obvious land mines. But what was lacking in the dialogue, both from Yellen and the media, was a serious discussion of what’s next for national economic policy. http://www.housingwire.com/articles/35702
Existing Home Sales Up 3.9% [INFOGRAPHIC]: 
Some Highlights:
* The annual adjusted sales are currently at a 5.36 million pace.
* 14,684 homes sell every day in the United States.
* October marked the 44th consecutive month of price gains. http://www.simplifyingthemarket.com/2015/11/27/existing-home-sales-up-3-9-infographic/?a=242769-4eb2112ad1caac540e99a63dd199d5ed
It’s official: Obama signs bill limiting Fannie, Freddie CEO pay: In what has become a complete and total rebuke of an effort put forth by Federal Housing Finance Agency Director Mel Watt to award $3 million raises to the CEOs of Fannie Mae and Freddie Mac, President Obama signed into a law a bill that caps the salaries of Fannie Mae CEO Timothy Mayopoulos and Freddie Mac CEO Donald Layton. Click headline to read more. http://www.housingwire.com/articles/35699-its-official-obama-signs-bill-limiting-fannie-freddie-ceo-pay
Feds announce 2016 threshold for smaller, ‘higher-priced’ loan appraisal exemption: The Federal Reserve Board, the Consumer Financial Protection Bureau, and the Office of the Comptroller of the Currency announced the annual adjustment of the dollar amount used to determine whether a small loan is exempt from the special appraisal requirements that apply to higher-priced #mortgage loans. http://www.housingwire.com/articles/35697-feds-announce-2016-threshold-for-smaller-higher-priced-loan-appraisal-exemption
[Infographic] What do Millennials look for in real estate agents, housing?: There are a plethora of reports and studies out there all defining what the Millennial generation looks like. This latest infographic from UpNest puts a lot of that information into one creative graphic. http://www.housingwire.com/articles/35696-infographic-what-do-millennials-look-for-in-real-estate-agents-housing
Consumers make saving a main priority: The latest report from the Commerce Department said that consumer spending is barely increasing since households are taking advantage of rising incomes to boost savings to their highest level in nearly three years. http://www.housingwire.com/articles/35695-consumers-make-saving-a-main-priority
New home sales beat expectations: While sales of new single-family houses in October beat expectations, it still remains volatile month-to-month. As one economist puts it, going forward, housing is likely to continue to be a positive contribution to headline activity although limited. http://www.housingwire.com/articles/35694-new-home-sales-beat-expectations
Whether you’re considering a long-term move to Boise or are planning a short term visit, the Boise real estate market is hot.
Boise offers a plethora of outdoor amenities, including stunning views of the Great Basin desert to the south, multiple rivers meandering throughout the city and the Rocky Mountains to the east. Additionally, this city includes several tight-knit communities where culture flourishes. Head to the Boise’s Basque Block for a unique meal, the Hyde Park Street Fair for local crafts or Table Rock for a scenic hike.
Check out the locals’ scoop on Boise’s best places to move, shop, dine and hike.
The Boise Train Depot
1. What’s the best free attraction in Boise?
I’ve always loved visiting the park outside the Boise Train Depot. Not only do you get to see an old Union Pacific train, but the park gives you a fantastic view of the city; it never fails to amaze me. - Mariella Hunt of Life, Literature, & Coffee
First Thursday offers free wine sampling and art in Downtown Boise and has my vote for best free attraction. It is fun to taste different wines from the surrounding region and check out our local artists at the same time. It is a great way to spend an evening in downtown Boise. - Shari of Pure Grace Farm
The best free attraction would have to be Table Rock. I know hiking isn’t for everyone, but you would be crazy to pass up on a Table Rock hike. It is a fairly easy hike; you’ll see kids, parents, teenagers, grandparents and dogs making the trek on any given day. Once you get to the top you’ll understand why Boise is called the City of Trees. It is absolutely breathtaking. - Deidre of Deidre Emme
2. What neighborhood would you move to if you’re seeking a beautiful view?
Quail Ridge, in the surrounding Boise foothills (or anything in the foothills for that matter!), offers stunning views of the entire Treasure Valley, but is a little pricey. If you’re looking for a view of the foothills, choose a location in South Boise or Meridian on the Bench! - Annelise Rowe of Aunie Sauce
I would have to say anywhere in the North End. It isn’t a view of the city, but it without a doubt the best view from your front porch. There is so much character on the North End because it is full of historic homes. The streets are lined with beautiful tall trees. And, as you drive down the streets, you feel like you just entered a movie. - Deidre of Deidre Emme
3. What are your favorite potato toppings?
The Great Potato Truck. Source: Deidre of Deidre Emme
Chili, sour cream and cheese. - Emily Benson of The Benson Street
I love my potatoes with classic chili, or else with a Peruvian cream called huancaina sauce; it’s a spicy cheese sauce traditionally served with potatoes and eggs. - Mariella Hunt of Life, Literature, & Coffee
I grew up putting homemade ranch dressing and grated cheese on my baked potatoes. I also love real bacon bits and steamed broccoli on mine with cheese! Mmmmm! - Tonia L. Clark of Whynotmom
4. What’s your favorite venue at the Hyde Park Street Fair?
Any or all of the food! Funnel cakes by far are my favorite! - Jess of Positively Oakes
Spending time in the Hyde Park area is always fun, but add a street fair with live music, great food and a wine garden … perfection. - Shari of Purse Grace Farms
5. Why do you think Boise was ranked #1 as the best city for kids?
Home grown values and respect for others is ingrained in the Boisean culture, making it a safe place and a great environment to raise a family. - Shari of Pure Grace Farms
Boise may have a “big city” feel (a nice variety of events are always going on!), but overall the community is very much small-town minded. We look out for each other. - Linda Greaves of The Dragonfruit Diaries
6. What’s your favorite mural in “Freak Alley”?
Jess and family enjoying a mural at Freak Alley. Source: Jess of Positively Oakes
I absolutely love the MLK mural made of broken glass. It is stunning! - McKenzie Guymon of Girl Loves Glam
The Jimi Hendrix mural is unique because it is constructed out of small mirrors. The poetry is also striking. - Mariella Hunt of Life, Literature, & Coffee
There are so many good ones up right now, and that happens to be one of my favorite spots to walk to when I’m downtown. Recently, I can’t get over this colorful, monster-themed mural by Dane Goodwin. The pastel shades chosen are playful. Cartoon monsters are so fun! - Linda Greaves of The Dragonfruit Diaries
7. What’s your favorite restaurant on Boise’s Basque Block? What would you order?
I actually love Epi’s which is in downtown Meridian (near Boise). The mushroom soup is the best I’ve EVER had to this day! - Tonia L. Clark of Whynotmom
The Basque Market! Order the paella … it’s divine! They only serve it on Wednesdays and Fridays at noon for lunch or Thursdays for dinner at 6:00 PM. Be sure to be there right on time because they sell out quick! - Annelise Rowe of Aunie Sauce
8. Would you rather visit Bogus Basin Mountain during the summer or winter?
Winter. The snow is just as nice as the snow in Sun Valley, only you aren’t paying the price of a “celebrity” ski hill! - McKenzie Guymon of Girl Loves Glam
Summer — technically FALL, the leaves are falling and it’s gorgeous! Go up there on a fall night with hot cocoa and blankets and it’s so much fun to watch the stars! - Jess of Positively Oakes
9. What’s your favorite item at the Boise Farmer’s Market?
Deidre enjoying food at the Boise Farmer’s Market. Source: Deidre of Deidre Emme
This may be odd, but there’s this lady who sells really cute, handmade soaps. My most recent purchase was a white tea and ginger soap that resembles a cupcake more than a bar of soap! - Linda Greaves of The Dragonfruit Diaries
There is the best booth with handmade wood signs that are full of great quotes and a lot of different designs that have to do with Idaho pride. I love that people can celebrate this great state in their decor. - McKenzie Guymon of Girl Loves Glam
I can’t get enough of the fresh baked croissants at the Boise Farmer’s Market. I head straight for them whenever I am there. The next step is coffee. After that I can take my time and meander as I fill up my basket. There is always something new to see. I am a huge fan. - Shari of Pure Grace Farms
10. What’s your favorite downtown boutique? Why?
Apricot Lane! They have cute style, are priced well and have a lot to choose from for the whole family! - Jess of Positively Oakes
There are a lot of fun shops downtown that you will be drawn to because the name is familiar, but my favorite is Swank Boutique because it is unique to Boise. They’ve got a little of everything to make you feel like you entered a different shop than any other in downtown. Plus they have a Swank a-go-go truck which brings the boutique around town which I think is the most fun feature! - Deidre of Deidre Emme
11. Since it’s nicknamed the City of Trees, what’s your favorite hike in Boise?
Oh wow, there are so many great hiking places here. My favorite by far would have to be Table Rock. But if you go make sure you get there just as the sun is setting for a superb view! But bring flashlights for the hike back down! - Tonia L. Clark of Whynotmom
We like to hike at the Military reserve downtown, because there are cool rock formations such as Elephant Rock. There are some nice creeks there. A few creeks run beside beautiful red, iron-filled rock faces; the striking colors of those rocks are a memorable landmark. It’s also fun to hike Table Rock because of the view of the city. The caves up on top are fun to explore; it’s a challenging hike, but worth it. - Mariella Hunt of Life, Literature, & Coffee
12. What’s the best way to spend an afternoon on the Boise Greenbelt?
Drop your bikes at Joe’s Crab Shack in Garden City. Maybe enjoy a margarita (or two!). Then bike east all the way to Lucky 13 and grab a slice of pie and a cookie. Don’t worry, you’ll burn off all those delicious calories on your bike back! - Annelise Rose of Aunie Sauce
Floating the river is by far the best way to spend your time on the Greenbelt. The water temperatures can get cold for some, so I recommend going on a good hot summer day. Plan on it taking up about 3 to 4 hours of your day and bring snacks and drinks in a waterproof cooler you can put on your raft. The view along the way is worth every minute! - Tonia L. Clark of Whynotmom
13. What’s the best way to show your BSU football pride?
Annelise showing her true colors at BSU. Source: Annelise Rowe of Aunie Sauce
Be sure to go to a game and experience the blue turf in person — dressed in your Boise State gear of course. - Emily Benson of The Benson Street
Deck yourself out in blue and orange, and if you happen to own a horse head mask, rock it with pride! The home games are always very exciting and the amount of team spirit is incredibly infectious. You’ll be swept away by the Bronco fans surrounding you! - Linda Greaves of The Dragonfruit Diaries
14. What’s Boise’s next up and coming neighborhood? Why?
I believe Hidden Springs is the new up and coming neighborhood in Boise. Nestled in the foothills it offers lovely views and is close to a network of walking trails. The new housing, restaurants and schools nearby are sure to attract attention. It is easy to see how it could become the “place to be.” - Shari of Pure Grace Farms
Meridian! The corner of Linder and Chinden is alive and bustling with new commercial buildings and residential homes going in. You can bike to school, the store or a local eatery and it’s very close to the new hoppin’ place in town, The Village at Meridian. - Annelise Rowe of Aunie Sauce
Related:
FHFA announces 2016 conforming loan limits: The Federal Housing Finance Agency announced the maximum conforming loan limits for #mortgages to be acquired by Fannie Mae and Freddie Mac in 2016. Despite some predictions that the loan limits would rise for 2016, the FHFA said the conforming loan limits will remain unchanged for much of the country, but not everywhere. Click the headline for the complete details. http://www.housingwire.com/articles/35693-fhfa-announces-2016-conforming-loan-limits
Freddie Mac: #mortgage rates drift lower: #mortgage rates reported little change for the week, with the average 30-year fixed #mortgage rate staying just barely below 4%. Freddie Mac Chief Economist Sean Becketti noted that it’s a quiet week leading up to the Thanksgiving holiday. http://www.housingwire.com/articles/35692-freddie-mac-mortgage-rates-drift-lower
MBA: #mortgage applications drop 3.2%: After the jump in #mortgage applications last week, the #mortgage Bankers Association’s latest survey found that applications changed direction and dropped 3.2%. http://www.housingwire.com/articles/35690-mba-mortgage-applications-drop-32
Distressed Property Sales Hit New Low: 
The National Association of Realtors (NAR) just released their Existing Home Sales Report revealing that distressed property sales accounted for 6% of sales in October. This is down from 9% in 2014 and the lowest figure since NAR began tracking distressed sales in October 2008.
Below is a graph that shows just how far the market has come since January 2012 when distressed sales accounted for 35% of all sales.
Existing Home Sales Up Year-Over-Year
#mortgage interest rates remained below 4% in October prompting existing home sales to stay at a healthy annual pace of 5.36 million. Year-over-year sales were up 3.9%.
Inventory of homes for sale remain below the 6-month supply that is necessary for a normal market, as they fell 2.3% to a 4.8-months supply. The shortage in inventory has contributed to the median home price rising an additional 5.8% to $219,600.
NAR’s Chief Economist, Lawrence Yun had this to say about the lack of inventory:
“New and existing-home supply has struggled to improve so far this Fall, leading to few choices for buyers and no easement of the ongoing affordability concerns still prevalent in some markets.”
There is good news though, as Yun went on to say:
“As long as solid job creation continues, a gradual easing of credit standards even with moderately higher #mortgage rates should support steady demand and sales continuing to rise above a year ago.”
Bottom Line
If you are debating putting your home on the market this year, now may be the time. Buyers are still out there looking for their dream home. Let’s get together to determine your best course of action. http://www.simplifyingthemarket.com/2015/11/25/distressed-property-sales-hit-new-low/?a=242769-4eb2112ad1caac540e99a63dd199d5ed
Fannie Mae joins e-document revolution: Fannie Mae joins the electronic document revolution. The government-sponsored enterprise announced that it is partnering with DocuSign to provide an “easy, fast, and secure way” to execute agreements with Fannie Mae by allowing electronic signatures on several of its documents. http://www.housingwire.com/articles/35691-fannie-mae-joins-e-document-revolution
Fitch upgrades Fay Servicing’s servicer ratings: Citing improvements in the company’s internal controls and other factors, Fitch Ratings upgraded two of Fay Servicing’s residential #mortgage servicer ratings. http://www.housingwire.com/articles/35688-fitch-upgrades-fay-servicings-servicer-ratings
MBA adds 27 new members in October: The #mortgage Bankers Association announced that it welcomed 27 new members in the month of October, as it continues to push its membership beyond 2,200 organizations. Here are the MBA’s new members. http://www.housingwire.com/articles/35689-mba-adds-27-new-members-in-october
Appraisal volume rises after three weeks of decreases: In a turn of events, appraisal volume reversed course and increased for the week of Nov. 15, marking the first uptick in three weeks. http://www.housingwire.com/articles/35687-appraisal-volume-rises-after-three-weeks-of-decreases
