Monday Morning Cup of Coffee: Fannie, Freddie crystal ball just got cloudier: There is a lot of...

Monday Morning Cup of Coffee: Fannie, Freddie crystal ball just got cloudier: There is a lot of debate surrounding the future or lack thereof of Fannie Mae and Freddie Mac, with opinions coming from the White House, Congress, trade groups, just to name a few. But predicting the future of the GSEs just got a little harder. Plus, is it time to buy the country’s biggest banks? All that, and more, in your Monday Morning Cup of Coffee. http://www.housingwire.com/blogs/1-rewired/post/36167-monday-morning-cup-of-coffee-fannie-freddie-crystal-ball-just-got-cloudier ❤️ #share #mortgage

Tesla’s first home battery is officially on the market: After much anticipation, Tesla’s first crop...

Tesla’s first home battery is officially on the market: After much anticipation, Tesla’s first crop of energy storage batteries are finally on the market. For now, Tesla is only bringing the Powerwall to Australia since the country is a priority market due to its high number of solar energy users. http://www.housingwire.com/articles/36163-teslas-first-home-battery-is-officially-on-the-market ❤️ #share #mortgage

MERS #mortgage authority upheld by New Hampshire Supreme Court: MERSCORP Holdings announced Friday...

MERS #mortgage authority upheld by New Hampshire Supreme Court: MERSCORP Holdings announced Friday that it secured another victory in a state’s highest court, as the New Hampshire Supreme Court upheld MERS’ #mortgage assignment rights. http://www.housingwire.com/articles/36162-mers-mortgage-authority-upheld-by-new-hampshire-supreme-court ❤️ #share #mortgage

Ocwen ties that bind? Altisource Residential adds former HLSS exec: In another sign that the...

Ocwen ties that bind? Altisource Residential adds former HLSS exec: In another sign that the relationship between Ocwen Financial and its affiliated companies, Altisource Portfolio Solutions, Altisource Residential Corporation, Altisource Asset Management Corporation, and Home Loan Servicing Solutions, will always be complicated, Altisource Residential and Altisource Asset Management announced Friday that Michael Lubin is joining both companies. Lubin joins the Altisource companies from Home Loan Servicing Solutions. http://www.housingwire.com/articles/36160-ocwen-ties-that-bind-altisource-residential-adds-former-hlss-exec ❤️ #share #mortgage

Here’s how retail #lenders can compete in this digital world: A side effect of digital...

Here’s how retail #lenders can compete in this digital world: A side effect of digital #mortgages as they gain prominence is the slow extinction of brick-and-mortar lending branches. However, it’s not all doom and gloom for branches. In order to still survive, this is what retail #lenders need to do. http://www.housingwire.com/articles/36159-heres-what-retail-lenders-need-to-do-to-compete-in-this-digital-world ❤️ #share #mortgage

Is it better to invest in a 401K or buy a house?: The age old question teenagers, college graduates...

Is it better to invest in a 401K or buy a house?: The age old question teenagers, college graduates and even professionals ask, “Which is better, investing in a 401K or investing in a house?” http://www.housingwire.com/articles/36158-is-it-better-to-invest-in-a-401k-or-buy-a-house ❤️ #share #mortgage

Want some Mr. Cooper swag? Nationstar opens online store for new brand: Recently, HousingWire...

Want some Mr. Cooper swag? Nationstar opens online store for new brand: Recently, HousingWire revealed the details on Mr. Cooper, the new brand that Nationstar will be likely launching soon as part of a rebranding effort. And now, even though the new brand remains officially unconfirmed, it appears that the general public can buy their own Mr. Cooper-branded swag, thanks to an online store that appeared this week. http://www.housingwire.com/articles/36157-want-some-mr-cooper-swag-nationstar-opens-online-store-for-new-brand ❤️ #share #mortgage

The GDP loses momentum: The GDP, the value of everything a nation produces, showed a significant...

The GDP loses momentum: The GDP, the value of everything a nation produces, showed a significant markdown this fourth quarter compared to the 3.9% increase last spring. According to Market Watch author Jeffry Bartash The economy expanded at a 2.4% clip last year, the same as in 2014, the Commerce Department said. The U.S. hasn’t topped 3% growth since 2005. http://www.housingwire.com/articles/36149-the-gdp-loses-momentum ❤️ #share #mortgage

Louis C.K. Builds His NYC Apartment Empire

For a guy who professes to be materialistic about only cars and cameras, comedian Louis C.K. is showing extraordinary love for real estate. He just bought a fourth apartment in the same West Village co-op where he’s owned for years.

At $564,900, this studio is his priciest Manhattan purchase so far. The eat-in kitchen has been “gut renovated,” with an all-in-one convection and microwave oven, according to the listing by Alejandro Beitler of Compass.

Its ceilings are high, its fireplace decorative and two of its closets walk-in. Pets allowed.

Louis C.K. bought the studio with his ex, Alix Bailey, with whom he professes to have an even better relationship now than when they were married. “I love being divorced,” he said. “Every year has been better than the last … . Marriage is just like the larvae stage for true happiness, which is divorce.”

For getting out of the city, Louis C.K. owns a multi-million-dollar mansion in the Hamptons.

Related:

• Tina Fey Snags $9.5M Apartment Above Her Existing Home
• No Joke: Amy Schumer Asks $2M for Manhattan Apartment
• Robin Williams’ Villa of Smiles Finally Sells for $18.1M

from Zillow Porchlight | Real Estate News, Advice and Inspiration http://www.zillow.com/blog/louis-ck-buys-nyc-apartment-191356/

ClosingCorp adds Dave Petro as senior vice president: ClosingCorp, a provider of residential real...

ClosingCorp adds Dave Petro as senior vice president: ClosingCorp, a provider of residential real estate closing cost data and technology for the #mortgage and real estate services industries, announced recently that Dave Petro joined the company as head of sales and business development. http://www.housingwire.com/articles/36154-closingcorp-adds-dave-petro-as-senior-vice-president ❤️ #share #mortgage

Walter Investment’s Ditech buys part of Residential Credit Solutions: In another signal that...

Walter Investment’s Ditech buys part of Residential Credit Solutions: In another signal that the default #mortgage business is shrinking, Walter Investment Management Corp. announced Friday that it acquired “certain assets” of Residential Credit Solutions. While a “number of core operational employees” are being transferred from RCS to Ditech, more than 130 of RCS’ employees will not be making the transition, and the company is laying off 134 employees at the end of February. http://www.housingwire.com/articles/36151-walter-investments-ditech-buys-part-of-residential-credit-solutions ❤️ #share #mortgage

Miami’s Coconut Grove ‘Cinderella’ story: Once upon a time, what was once a village that attracted...

Miami’s Coconut Grove ‘Cinderella’ story: Once upon a time, what was once a village that attracted Bohemians during the 1950’s and ‘60’s, Coconut Grove is now attracting a different class with their new and improved condos. http://www.housingwire.com/articles/36148-miamis-coconut-grove-cinderella-story ❤️ #share #mortgage

Existing Home Sales Bounce Back [INFOGRAPHIC]: Some Highlights: * Sales in December were 14.7%...

Existing Home Sales Bounce Back [INFOGRAPHIC]: Some Highlights:

* Sales in December were 14.7% higher than those in November, marking the largest month-over-month increase ever recorded.
* Inventory levels are still below historic norms at 3.9-months supply.
* Median home price is up 7.6% from last year, marking the 46th consecutive month with year-over-year price gains. http://www.simplifyingthemarket.com/2016/01/29/existing-home-sales-bounce-back-infographic/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

ComplianceEase launches web-based employment and income verification platform: ComplianceEase, a...

ComplianceEase launches web-based employment and income verification platform: ComplianceEase, a provider of automated compliance solutions to the financial services industry, announced earlier this week that it launched a new web solution, VOE Xpress, that provides independent authentication of borrower employment and income. http://www.housingwire.com/articles/36144-complianceease-launches-web-based-employment-and-income-verification-platform ❤️ #share #mortgage

FirstSource purchases ISGN’s BPO business: FirstSource, a business process outsourcing company,...

FirstSource purchases ISGN’s BPO business: FirstSource, a business process outsourcing company, purchased US-based #mortgage service provider ISGN’s BPO business to expand their company. According to The Economic Times, FirstSource said that more than 700 employees from ISGN’s BPO division in the U.S. and India will join FirstSource through this acquisition. http://www.housingwire.com/articles/36130-firstsource-purchases-isgns-bpo-business ❤️ #share #mortgage

HSBC enforces new restriction to Chinese citizens in the U.S.: Chinese nationals living in the U.S....

HSBC enforces new restriction to Chinese citizens in the U.S.: Chinese nationals living in the U.S. will have a tough time getting a #mortgage with one of the world’s largest banking and financial services organization, HSBC. According to a Reuters report, the bank is scaling back its lending to Chinese nationals. http://www.housingwire.com/articles/36135-hsbc-enforces-new-restriction-to-chinese-citizens-in-the-us ❤️ #share #mortgage

LRES reports ‘dramatic growth’ in 2015: LRES, a national REO and appraisal management...

LRES reports ‘dramatic growth’ in 2015: LRES, a national REO and appraisal management company offering property valuations, asset management, HOA and technology solutions for the #mortgage and real estate industry, announced Thursday that the company had a “banner year” in 2015. http://www.housingwire.com/articles/36139-lres-reports-dramatic-growth-in-2015 ❤️ #share #mortgage

4 ways to improve loan officer and real estate agent relationships: Loan officers and real estate...

4 ways to improve loan officer and real estate agent relationships: Loan officers and real estate agents need each other to thrive in their respective businesses. To help loan officers figure out how to best cultivate this relationship, MGIC teamed up with Bill Gassett, a real estate agent based in Massachusett, to create a list of ways loan officer can work better with real estate agents. http://www.housingwire.com/articles/36142-ways-to-improve-loan-officer-and-real-estate-agent-relationships ❤️ #share #mortgage

Is Nevada’s HOA solution just another problem for #mortgage servicers?: Redemption requires timely...

Is Nevada’s HOA solution just another problem for #mortgage servicers?: Redemption requires timely and reasonable cooperation by the purchasers, the same purchasers that the servicers have been litigating with for the last several years. As a result, exercising the right of redemption could very well lead the servicer into quiet title litigation, again. Here’s what you need to do. http://www.housingwire.com/blogs/1-rewired/post/36137-is-nevadas-hoa-solution-just-another-problem-for-mortgage-servicers ❤️ #share #mortgage

Here are the 25 strongest and weakest housing markets for 2016: With the new year, it’s still not...

Here are the 25 strongest and weakest housing markets for 2016: With the new year, it’s still not too late to identify where the strongest and weakest U.S. housing markets will be in 2016. A new report from Veros Real Estate Solutions, a provider of enterprise risk management, collateral valuation services and predictive analytics, shows the vitality and expected market changes of the U.S. residential market for 2016. http://www.housingwire.com/articles/36121-here-are-the-25-strongest-and-weakest-housing-markets-for-2016 ❤️ #share #mortgage

FHFA: #mortgage interest rates increased in December: #mortgage interest rates rose in December...

FHFA: #mortgage interest rates increased in December: #mortgage interest rates rose in December across the U.S., a new report from the Federal Housing Finance Agency showed. According to the FHFA report, the average interest rates on all #mortgage loans went up 10 basis points from a 3.86 to a 3.96%. http://www.housingwire.com/articles/36127-fhfa-mortgage-interest-rates-increased-in-december ❤️ #share #mortgage

California housing positioned for strong 2016: A new report from the California Association of...

California housing positioned for strong 2016: A new report from the California Association of Realtors shows that California pending home sales continued to progress through 2015 with solid gains, which will position the market for a modest increase in home sales in 2016. http://www.housingwire.com/articles/36120-california-housing-positioned-for-strong-2016 ❤️ #share #mortgage

FHA reduces multifamily housing insurance rates to support energy efficiency: The FHA announced a...

FHA reduces multifamily housing insurance rates to support energy efficiency: The FHA announced a new plan to reduce multifamily insurance rates in order to encourage capital financing of affordable and energy-efficient apartments. This marks a major move from the government to support energy efficiency, which has been gaining momentum in the industry. http://www.housingwire.com/articles/36136-fha-reduces-multifamily-housing-insurance-rates-to-support-energy-efficiency ❤️ #share #mortgage

Pending home sales barley increase, driven by surge in the Northeast: After a series of declines,...

Pending home sales barley increase, driven by surge in the Northeast: After a series of declines, pending home sales, while small, posted a slight increase largely fueled by a surge in the Northeast. On a positive side, NAR’s chief economist, said that the silver lining from the market turmoil in recent weeks is the fact that #mortgage rates have stayed low. http://www.housingwire.com/articles/36133-pending-home-sales-barley-increase-driven-by-surge-in-the-northeast ❤️ #share #mortgage

Freddie Mac: #mortgage rates drop four consecutive weeks: #mortgage rates once again moved lower...

Freddie Mac: #mortgage rates drop four consecutive weeks: #mortgage rates once again moved lower amid continuous market turmoil. This marks the fourth consecutive week that #mortgage rates moved lower. Last week, rates also fell due to market turbulence driving investors to Treasuries. http://www.housingwire.com/articles/36128-freddie-mac-mortgage-rates-drop-four-consecutive-weeks ❤️ #share #mortgage

Thinking of Selling? Why Now May Be The Time: It is common knowledge that a large number of homes...

Thinking of Selling? Why Now May Be The Time: It is common knowledge that a large number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their home on the market until then. The question is whether or not that will be a good strategy this year.

The other listings that do come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market in the spring, as compared to the rest of the year? The National Association of Realtors (NAR) recently revealed which months most people listed their home in for 2015. Here is a graphic showing the results:

The three months in the second quarter of the year (represented in red) are consistently the most popular months for sellers to list their homes on the market. Last year, the number of homes available for sale in January was 1,860,000.

That number spiked to 2,280,000 by May!

What does this mean to you?

With the national job situation improving, and #mortgage interest rates projected to rise later in the year, buyers are not waiting until the spring. They are out looking for a home right now. If you are looking to sell this year, waiting until the spring to list your home means you will have the greatest competition for a buyer.

Bottom Line

It may make sense to beat the rush of housing inventory that will enter the market in the spring and list your home today. http://www.simplifyingthemarket.com/2016/01/28/thinking-of-selling-why-now-may-be-the-time/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

Roostify expands management team, names new CFO: Roostify, a provider of automated #mortgage...

Roostify expands management team, names new CFO: Roostify, a provider of automated #mortgage transaction technology, announced the addition of Iyad Darcazallie as chief financial officer and chief operating officer and Scott Stein as vice president of sales. http://www.housingwire.com/articles/36126-roostify-expands-management-team-names-new-cfo ❤️ #share #mortgage

America’s most unwanted, expensive homes: America’s most expensive homes already lose out on a lot...

America’s most unwanted, expensive homes: America’s most expensive homes already lose out on a lot of buyers since they are way outside the price range of the typical #homebuyer, causing it to be an even larger issue when there’s no interest from the slim pool of buyers that they do have. http://www.housingwire.com/articles/36125-americas-most-unwanted-expensive-homes ❤️ #share #mortgage

OpenHouse partners with NerdWallet to provide real estate agent recommendations: Users of...

OpenHouse partners with NerdWallet to provide real estate agent recommendations: Users of NerdWallet, a website that helps guide consumer decisions with tools, research and advice about credit cards, #mortgages, insurance, loans or other expenses, can now get recommendations about choosing a real estate agent, thanks to a new partnership between NerdWallet and OpenHouse. http://www.housingwire.com/articles/36124-openhouse-partners-with-nerdwallet-to-provide-real-estate-agent-recommendations ❤️ #share #mortgage

Freddie Mac launches online tool to help real estate professionals: Freddie Mac recently launched an...

Freddie Mac launches online tool to help real estate professionals: Freddie Mac recently launched an online real estate professionals resource center which is designed to keep real estate agents, brokers, housing counselors, and other practitioners on top of the latest affordable #mortgage products, training, and networking opportunities as well as customizable promotion tools. http://www.housingwire.com/articles/36122-freddie-mac-launches-online-tool-to-help-real-estate-professionals ❤️ #share #mortgage

Here’s Quicken Loans entry into the Super Bowl ad bonanza: Quicken Loans added its name to the...

Here’s Quicken Loans entry into the Super Bowl ad bonanza: Quicken Loans added its name to the Super Bowl commercial roster, joining veterans like Budweiser and Doritos, in what’s not only the final face-off of the top two football teams this season, but the ultimate thrown-down of the who’s who in commercials. And you don’t have to wait until the Super Bowl to watch it, the video is included here. http://www.housingwire.com/blogs/1-rewired/post/36123-heres-quicken-loans-entry-into-the-super-bowl-commercial-big-league ❤️ #share #mortgage

Ted Cruz under fire for Goldman Sachs connections: GOP Presidential candidate Ted Cruz continues to...

Ted Cruz under fire for Goldman Sachs connections: GOP Presidential candidate Ted Cruz continues to be criticized for his links to Goldman Sachs, the company where his wife Heidi, is a managing director at the firm in Houston. http://www.housingwire.com/articles/36115-ted-cruz-under-fire-for-goldman-sachs-connections ❤️ #share #mortgage

FOMC: When interest rates rise again, it will be gradual: In the first Federal Open Market Committee...

FOMC: When interest rates rise again, it will be gradual: In the first Federal Open Market Committee meeting since the Federal Reserve decided to raise interest rates, the committee decided to keep the federal funds rate at a range of 0.25% to 0.50%. For now, the committee expects that economic conditions will evolve in a manner that will warrant only gradual increases in the federal funds rate. http://www.housingwire.com/articles/36119-fomc-when-interest-rates-rise-again-it-will-be-gradual ❤️ #share #mortgage

Texas luxury home sales maintain fast-growing trend: Luxury home sales continue to be one of the...

Texas luxury home sales maintain fast-growing trend: Luxury home sales continue to be one of the strongest sectors in the Texas housing market, with sales continuing to rise, according to the 2016 Texas Luxury Home Sales Report recently released by the Texas Association of Realtors. http://www.housingwire.com/articles/36116-texas-luxury-home-sales-maintain-fast-growing-trend ❤️ #share #mortgage

New home sales beat expectations, rise 10.8%: New home sales kept pace with previous strong economic...

New home sales beat expectations, rise 10.8%: New home sales kept pace with previous strong economic housing news this month, except its rise isn’t conditional on TRID. In fact, new home sales rose significantly more than the 2.0% expected, rising from 491,000 to a 544,000 unit pace, the fastest pace since February 2015. http://www.housingwire.com/articles/36117-new-home-sales-beat-expectations-rise-108 ❤️ #share #mortgage

Hanging with “Mr. Cooper”? Nationstar’s big move revealed: Confirming suspicions that...

Hanging with “Mr. Cooper”? Nationstar’s big move revealed: Confirming suspicions that HousingWire brought to light in late December, signs are beginning to emerge that the rebranding of Nationstar #mortgage is nigh upon us. According to multiple sources, Nationstar is preparing to launch a new brand that would be unlike any other in the #mortgage space: say hello to “Mr. Cooper”. Click headline to read more. http://www.housingwire.com/articles/36118-hanging-with-mr-cooper-nationstars-big-move-revealed ❤️ #share #mortgage

MBA: #mortgage applications rise three weeks straight: It was another strong week for #mortgages,...

MBA: #mortgage applications rise three weeks straight: It was another strong week for #mortgages, with applications rising and #mortgage rates falling. In this week’s data, the average contract interest rate for 30-year fixed-rate #mortgages with conforming loan balances ($417,000 or less) reached its lowest level since October 2015. http://www.housingwire.com/articles/36114-mba-mortgage-applications-rise-three-weeks-straight ❤️ #share #mortgage

A Million+ Boomerang Buyers about to Enter Market: TransUnion recently released the results of a new...

A Million+ Boomerang Buyers about to Enter Market: TransUnion recently released the results of a new study titled “The Bubble, the Burst and Now - What Happened to the Consumer?” The study revealed that 1.5 million homeowners that were negatively impacted by the housing crisis could re-enter the housing market in the next three years.

TransUnion defined “negatively impacted” as…

“…those who were 60+ days past due on a #mortgage loan, lost their #mortgage through foreclosure, short sale or other non-satisfactory closure, or had a #mortgage loan modification between the Bubble and Burst.”

Other interesting findings in the study:

* During the #mortgage bubble in 2006, 78 million consumers, or 43% of credit-active consumers in the U.S., had a #mortgage
* More than 8% of these consumers were “impacted”
* 5 Million consumers will again be eligible for a #mortgage in the next four years

Here are the numbers of consumers who will meet #mortgage guidelines over the next four years:

Bottom Line

If you are a family that experienced the impact of the last housing crisis, now may be the right time to again buy your own home. http://www.simplifyingthemarket.com/2016/01/27/a-million-boomerang-buyers-about-to-enter-market/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

Can the Mortgage Process Really Be 100% Digital?

Technology advances have reinvented mobile phones, music, TV, and many other industries in the past decade. And now technology is finally beginning to overhaul the mortgage process.

But is it really possible to have a 100-percent digital mortgage? Let’s take a look.

Clarifying the digital mortgage process

The two biggest misconceptions of digital mortgages are that you can get a mortgage with the push of a button, and that you won’t have to provide as much documentation.

When you make a video call or stream a song or movie, you’re literally pushing a button or two. But a mortgage is still a major financial transaction requiring documentation and analysis of your full financial life, so you’ll need to put in some effort - even when it’s sped up by a digital process.

Likewise, digital mortgages speed you up, but typically don’t reduce the documentation required.

Reduced documentation mortgages played a major role in setting off the financial crisis in 2008 as lenders required less and less income, asset, and employment verification to approve mortgages.

Then the reverse happened for years after the crisis: lenders would provide seemingly never-ending checklists of required documentation to approve and close your mortgage.

Today, you’re still providing the same amount of documentation, but the efficiencies of technology make the process much easier.

For example, today you’re answering questions about credit, residence, and employment history in an online form, whereas just two years ago you would have had to write, sign, and send letters to answer acceptably.

And today you can authorize your lender to obtain pay stubs, bank statements, and tax returns from the sources rather than assembling and sending all of this documentation yourself.

What you can do digitally vs. what you can’t

The federal laws created after the crisis require lenders to prove (with your full documentation) that they’ve verified your ability to repay your mortgage before you take it out.

To do this, lenders must follow eight federally required loan approval factors. So if a digital process doesn’t satisfy these parameters for any reason whatsoever, you can be sure your lender will send you follow-up checklists requesting more documentation.

If you applied online originally, follow-up checklists and documentation may be requested and provided online, or the old-fashioned email way. Each lender’s process is different, and your lender will instruct you.

Processes are also different depending on loan size and type.

For example, if you’re applying for a conforming mortgage up to $417,000; you’ve been a straight salary employee (that is, receiving no bonus or commission) at a large company for more than two years; you file your taxes using an online service; and you have online accounts with all of the financial institutions that have your money, then the digital mortgage process will likely be very easy. You apply online; authorize your lender to directly obtain pay stubs, bank statements, and tax returns on your behalf; and run a credit report. Then the digital process will analyze this documentation, and run an automated loan approval. For a profile like this, you could be approved in 10 to 30 minutes.

Conversely, if you’re applying for a jumbo mortgage above $417,000; you’re self employed with multiple sources of income; you have a tax adviser manually prepare your taxes; and you don’t have online accounts with all of the financial institutions that have your money, then the digital mortgage process will require more human intervention by you and your lender. You apply online and provide the same authorizations as above, but you’ll need to assemble and submit a lot of documentation yourself, and you’ll likely see follow-up checklists as your lender manually reviews and approves your file - because loans above $417,000 are often ineligible for automated approval. The process could take hours or days.

How many lenders offer digital mortgages?

Today, the digital revolution is still working its way through the mortgage industry. You might get amazing technology or outstanding service and advice, but not all lenders have married both so far.

As more lenders adopt the digital processes described above, your decision as a mortgage shopper will come down to whether you want to run the whole process yourself online, or you want an adviser to help you in person along the way.

Because home buying is a large - and often intimidating - financial decision, good advice is likely to remain at the forefront of the mortgage offering. So if you want great advice plus the efficiencies of a digital process, it’s best to start by finding a great local lender, then interviewing them about their digital offerings.

Related:

• 5 Mortgage Misconceptions Set Straight
• The 4 Most Important Mortgage Documents You’ll Sign
• 5 Things You Need to Know Before You Finance a New Home

Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

from Zillow Porchlight | Real Estate News, Advice and Inspiration http://www.zillow.com/blog/can-mortgage-process-be-digital-191267/

Appraisal volume starts to lose momentum: Appraisal volume lost some of its steam as the year starts...

Appraisal volume starts to lose momentum: Appraisal volume lost some of its steam as the year starts to progress past the huge gains witnessed at the beginning of January. Kevin Golden, director of analytics with a la mode, helps explains what could be behind the perplexing data. http://www.housingwire.com/articles/36111-appraisal-volume-starts-to-lose-momentum ❤️ #share #mortgage

#mortgage Master expands, promotes two managers: #mortgage Master, a national #mortgage #lender and...

#mortgage Master expands, promotes two managers: #mortgage Master, a national #mortgage #lender and division of loanDepot, LLC, announced Tuesday they are expanding their offices in Northbrook, Illinois. Jorden Brok and Brett Lotsoff received promotions and are now co-managers of both the Northbrook and North River branches in Chicago. http://www.housingwire.com/articles/36112-mortgage-master-expands-promotes-two-managers ❤️ #share #mortgage

3 homebuying tips potential borrowers need to know: Before you start your home-buying journey, make...

3 homebuying tips potential borrowers need to know: Before you start your home-buying journey, make sure you’re educated on the process. Know what goes into a closing cost, or the importance of your FICO? If you said no to either of those, check these tips. http://www.housingwire.com/blogs/1-rewired/post/36110-homebuying-tips-potential-borrowers-need-to-know ❤️ #share #mortgage

'Malcolm in the Middle' Star Frankie Muniz Lists in Scottsdale

Frankie Muniz, the lovable brainiac who was “Malcolm in the Middle,” is all grown up now and listing his home in Scottsdale, AZ for $2.895 million.

The stone-and-stucco exterior offers an inviting entree to a home decorated in warm tans and browns, with exposed-beam ceilings and views of surrounding saguaro and mountains.

The 5-bedroom, 7-bath home includes a great room with soaring ceilings, a fireplace and a giant window looking out onto the pool with three waterfalls all in a row against a backdrop of desert brush and red rocks.

A giant, centrally located kitchen adjoins the family room, which has its own fireplace, and a dining nook with views. There’s a wet bar, a large home theater, and a veranda overlooking the pool.

The master suite boasts a sitting area with a fireplace, plus a spa bath with an extensive dressing area and a separate shower and soaking tub. Three guest suites open onto the lush grounds.

The listing agents are Monica Monson  and Barry Van Patten of Russ Lyon Sotheby’s International.

Related:

• Emily Blunt & John Krasinski Selling Hillside Home in LA
• Sarah Palin Lists Equestrian Estate in Scottsdale
• Scott Disick Buys in Hidden Hills Near Kardashian Klan

from Zillow Porchlight | Real Estate News, Advice and Inspiration http://www.zillow.com/blog/frankie-muniz-lists-in-scottsdale-191232/

FHFA house price index rises slightly: U.S. housing prices in November stayed at 0.5% on a...

FHFA house price index rises slightly: U.S. housing prices in November stayed at 0.5% on a seasonally adjusted basis from the previous month, according to the Federal Housing Finance Agency’s monthly House Price Index. http://www.housingwire.com/articles/36108-fhfa-house-price-index-rises-slightly ❤️ #share #mortgage

JPMorgan pays $1.42B to settle Lehman claims: Wrapping up most its issues with the company, JPMorgan...

JPMorgan pays $1.42B to settle Lehman claims: Wrapping up most its issues with the company, JPMorgan Chase announced late Monday night that it has agreed to pay the remnants of Lehman Brothers Holdings Inc. $1.42 billion in cash. http://www.housingwire.com/articles/36107-jpmorgan-pays-142b-to-settle-lehman-claims ❤️ #share #mortgage

JPMorgan Chase to pay $995 million to bond insurer Ambac: In the latest settlement resolving issues...

JPMorgan Chase to pay $995 million to bond insurer Ambac: In the latest settlement resolving issues from the financial crisis, JPMorgan Chase said it will pay $995 million to bond insurer Ambac Financial Group to settle disputes related to the insurance of residential #mortgage-backed securities. http://www.housingwire.com/articles/36106-jpmorgan-chase-to-pay-995-million-to-bond-insurer-ambac ❤️ #share #mortgage

Flagstar CEO: TRID impacts us more than other #mortgage #lenders: As the fourth quarter earnings...

Flagstar CEO: TRID impacts us more than other #mortgage #lenders: As the fourth quarter earnings start to pour in, the true extent of the TRID impact on each individual company is coming to light. For some banks, it was just a dent in the grand scheme of things, but that’s not the case for Flagstar. http://www.housingwire.com/articles/36105-flagstar-ceo-trid-impacts-us-more-than-other-mortgage-lenders ❤️ #share #mortgage

Robin Williams' Villa of Smiles Finally Sells for $18.1M

The Napa Valley estate that beloved funnyman Robin Williams built in 2003 and tried to sell before his untimely death in 2014 has finally sold for $18.1 million.

Williams initially asked $35 million for the 639-acre vineyard property, whose 20,000-square-foot main home he dubbed Villa Sorriso, or Villa of Smiles. The home has been on and off the market since 2012, with multiple price cuts.

Inspired by the Palladian architectural style of the 1700s, the villa boasts 5 bedrooms, 8 baths, a library, pool room, elevator, and luxurious screening room worthy of an Oscar and Golden Globe winner.

The home’s elite craftsmanship begins with an imported Portuguese limestone exterior and continues inside with gold leaf and verdigris ceilings in the library and master suite, oak panels with mother-of-pearl inlays, and mosaic glass tile rotundas.

Villa Sorriso offers climate-controlled wine cellars and a viewing tower for taking in the acreage and its spring-fed pond, tennis court, hiking trails, 7-stall horse barn and olive orchard, plus vineyards of Cabernet Sauvignon, Merlot and Cabernet Franc varietals.

Antique European stone terraces overlook the grounds, including a 65-foot infinity edge swimming pool with a wading pool and spa. There’s also a 3,200-square-foot guest house.

The listing agents were Joyce Rey and Cyd Greer of Coldwell Banker Previews International. The buyers are French winemakers from Chateau Pontet-Canet, according to The Wall Street Journal.

Related:

• Tina Fey Snags $9.5M Apartment Above Her Existing Home
• Playboy Mansion Hops on the Market for $200M
• John Legend & Chrissy Teigen Nab New House for the New Year

from Zillow Porchlight | Real Estate News, Advice and Inspiration http://www.zillow.com/blog/robin-williams-estate-sells-191203/

Case-Shiller: Home price lift can’t offset struggling economy: Although home prices continued...

Case-Shiller: Home price lift can’t offset struggling economy: Although home prices continued to increase, boding well for the economy, it’s still not strong enough to offset some of the trouble spots. According to the latest S&P/Case-Shiller U.S. National Home Price Index, covering all nine U.S. census divisions, home prices recorded a 5.3% annual increase in November 2015 versus a 5.1% increase in October 2015. http://www.housingwire.com/articles/36104-case-shiller-despite-rise-home-prices-cant-offset-struggling-economy ❤️ #share #mortgage

New year’s resolutions for #mortgage loan quality: Just like the right running shoe can...

New year’s resolutions for #mortgage loan quality: Just like the right running shoe can minimize strain and provide support so the runner can go the distance, the right tools for a quality workout can result in accurate defect detection and condition clearing prior to close and before a loan is sold. http://www.housingwire.com/articles/36103-new-years-resolutions-for-mortgage-loan-quality ❤️ #share #mortgage

Where Are Interest Rates Headed This Year?: With interest rates still below 4%, many buyers may be...

Where Are Interest Rates Headed This Year?: With interest rates still below 4%, many buyers may be on the fence as to whether to act now and purchase a new home, or wait until next year.

If you look at what the four major reporting agencies are predicting for 2016, it may make the decision for you. The chart below averages the predictions by quarter.

With the exception of Fannie Mae, the experts agree that interest rates will increase by three-quarters of a percentage point, costing you more to pay back your loan.

Bottom Line

Even a small increase in interest rates can put a dent in your family’s wealth. http://www.simplifyingthemarket.com/2016/01/26/where-are-interest-rates-headed-this-year/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

Here’s your chance to become a Rising Star: HousingWire’s 2016 Rising Stars award program recognizes...

Here’s your chance to become a Rising Star: HousingWire’s 2016 Rising Stars award program recognizes the next generation of leaders in lending, servicing, investments, and real estate — those younger leaders already making their mark on the industry. http://www.housingwire.com/blogs/1-rewired/post/36097-heres-your-chance-to-become-a-rising-star ❤️ #share #mortgage

Monday Morning Cup of Coffee: It’s time for you to buy a home: One housing expert says housing...

Monday Morning Cup of Coffee: It’s time for you to buy a home: One housing expert says housing sales are increasing, and the CEO of KB Home agrees with her, kind of. But with the Fed raising interest rates, is it a good time to buy a home? Nope, it’s a great time. And here’s proof. http://www.housingwire.com/blogs/1-rewired/post/36092-monday-morning-cup-of-coffee-its-time-for-you-to-buy-a-home ❤️ #share #mortgage

Fox News personality predicts housing crisis, outs self as clueless fear-monger: Cal Thomas, who is...

Fox News personality predicts housing crisis, outs self as clueless fear-monger: Cal Thomas, who is apparently “America’s most widely syndicated op-ed columnist,” penned a syndicated column that appeared on FoxNews.com and in scores of newspapers from coast to coast recently, in which he writes that the creation of the HomeReady program by Fannie Mae is one giant step towards another housing apocalypse. Not only does Thomas not know what he’s talking about, he goes on to out himself as a fear-mongering doomsayer. http://www.housingwire.com/blogs/1-rewired/post/36089-fox-news-personality-predicts-housing-crisis-outs-self-as-clueless-fear-monger ❤️ #share #mortgage

Appraisal Institute falls victim to Twitter hack: If you’re a follower of the Appraisal Institute on...

Appraisal Institute falls victim to Twitter hack: If you’re a follower of the Appraisal Institute on Twitter, some strange tweets began showing up on your timeline lately. Instead of tweets about the appraisal industry, tweets emanating from the Appraisal Institute’s account for the last 18 hours have more to do with Playboy Magazine, Hooters, David Hasselhoff, links to “sexy” videos, and other inappropriate tweets. That’s because the Appraisal Institute has fallen victim to a Twitter hacking. http://www.housingwire.com/blogs/1-rewired/post/36086-appraisal-institute-becomes-latest-victim-of-twitter-hack ❤️ #share #mortgage

Tampa-area police search for man accused of preying on female real estate agents: Less than two...

Tampa-area police search for man accused of preying on female real estate agents: Less than two weeks after an Arkansas jury found Arron Lewis guilty of abducting and killing Realtor Beverly Carter in 2014, demonstrating the ultimate risk that Realtors and real estate agents face in their chosen profession, Tampa-area police are asking for the public’s help to find a man accused of preying on female real estate agents. http://www.housingwire.com/articles/36102-tampa-area-police-search-for-man-accused-of-preying-on-female-real-estate-agents ❤️ #share #mortgage

Is technology impacting commercial #mortgages just like residential #mortgages?: While new...

Is technology impacting commercial #mortgages just like residential #mortgages?: While new technology is completely changing the face of the residential #mortgage market, the same story isn’t happening in the commercial #mortgage market yet. Is this all about to change? One midsize commercial-#mortgage broker not only says yes, but they have already successfully adjusted their business financially for it. http://www.housingwire.com/articles/36099-is-technology-impacting-commercial-mortgages-like-it-is-residential-mortgages ❤️ #share #mortgage

CoreLogic partners with Howard Hanna Real Estate Services: CoreLogic, a global property information,...

CoreLogic partners with Howard Hanna Real Estate Services: CoreLogic, a global property information, analytics and data-enabled services provider signs a deal with Howard Hanna Real Estate Services, which bills itself as the fourth largest real estate company in America, to provide public record parcel data for every state that Howard Hanna operates. http://www.housingwire.com/articles/36101-corelogic-partners-with-howard-hanna-real-estate-services ❤️ #share #mortgage

D.R. Horton misses earnings expectations: It was a tough quarter for D.R. Horton. The Homebuilder...

D.R. Horton misses earnings expectations: It was a tough quarter for D.R. Horton. The Homebuilder missed earnings expectations for the final quarter of the year as its home sales fell in all regions but the Southeast. http://www.housingwire.com/articles/36100-dr-horton-misses-earnings-expectations ❤️ #share #mortgage

Good news for renters: Rents to finally flatten in 2016: Rent appreciation is finally projected to...

Good news for renters: Rents to finally flatten in 2016: Rent appreciation is finally projected to cool down in 2016, giving renters a much-needed break from what seemed to be never-ending price increases. However, a price slowdown isn’t enough to turnaround some of the outrageous costs of rent on the West Coast. http://www.housingwire.com/articles/36098-good-news-renters-rents-to-finally-flatten-in-2016 ❤️ #share #mortgage

Former NBA player Tate George gets 9 years for running real estate Ponzi scheme: Tate George, a...

Former NBA player Tate George gets 9 years for running real estate Ponzi scheme: Tate George, a former basketball star at the University of Connecticut who spent four years in the NBA in the early-mid 90’s, will spend the next nine years in prison for “orchestrating” a $2 million real estate Ponzi scheme. George alleged victims include several current and former professional athletes. http://www.housingwire.com/articles/36096-former-nba-player-tate-george-gets-9-years-for-running-real-estate-ponzi-scheme ❤️ #share #mortgage

Here’s your chance to become a Rising Star: HousingWire’s 2016 Rising Stars award program recognizes...

Here’s your chance to become a Rising Star: HousingWire’s 2016 Rising Stars award program recognizes the next generation of leaders in lending, servicing, investments, and real estate — those younger leaders already making their mark on the industry. http://www.housingwire.com/blogs/1-rewired/post/36097-heres-your-chance-to-become-a-rising-star ❤️ #share #mortgage

John Fikany joins Quicken Loans as VP of strategy: Quicken Loans hired John Fikany as vice president...

John Fikany joins Quicken Loans as VP of strategy: Quicken Loans hired John Fikany as vice president of strategy. In this new position, Fikany will be responsible for development of strategy and execution for large technology and other initiatives at Quicken Loans and its family of companies. http://www.housingwire.com/articles/36095-john-fikany-joins-quicken-loans-as-vp-of-strategy ❤️ #share #mortgage

Citizen CEO on how TRID blocked its progress: Originally, Citizens Financial Group planned to add...

Citizen CEO on how TRID blocked its progress: Originally, Citizens Financial Group planned to add 350 #mortgage #lenders, giving it a total of 700, by the end of 2016. There was just one major thing standing in the #lender’s way - TRID. http://www.housingwire.com/articles/36094-citizen-ceo-on-how-trid-blocked-its-progress ❤️ #share #mortgage

Existing Home Sales Rebound in December: The National Association of Realtors (NAR) just released...

Existing Home Sales Rebound in December: The National Association of Realtors (NAR) just released their latest Existing Home Sales Report on Friday. Sales of existing homes rose by the largest increase ever recorded as they rebounded 14.7% over November’s numbers and now stand at 7.7% higher than a year ago.

While this is great news for the housing market, let’s take a look at one of the main reasons why there was such a large increase in sales.

As we explained last month, the implementation of the “Know Before You Owe” (TRID) initiative delayed some closings, pushing a portion of November’s would-be transactions to close in December.

“December’s rebound in sales is reason for cautious optimism that the work to prepare for ‘Know Before You Owe’ is paying off,” says NAR President Tom Salomone.

Lawrence Yun, NAR’s Chief Economist, had this to say about the surge in December sales:

“While the carryover of November’s delayed transactions into December contributed greatly to the sharp increase, the overall pace taken together indicates sales these last two months maintained the healthy level of activity seen in most of 2015. Additionally, the prospect of higher #mortgage rates in coming months and warm November and December weather allowed more homes to close before the end of the year.”

The most important realization to come out of the report is the fact that inventory of existing homes for sale dropped dramatically from a 5.1-month supply in November to the lowest figure since January 2005, at a 3.9-month supply.

A normal market, where prices rise with inflation, is defined as having a 6-7-month supply of homes for sale. As you can see in the chart below, inventory levels in 2015 were at or below a 5.2-month supply for the entire year.

If inventory levels do not recover, this could be a challenge for sales moving forward as buyer demand remains strong and competition for the homes that are on the market continues to rise.

Bottom Line

If you are considering listing your home for sale in 2016, now is the time! With inventory levels at their lowest mark in over 10 years, listing your home for sale before the busy spring buying season will give you the most exposure to buyers and allow you to get the best price for your home. http://www.simplifyingthemarket.com/2016/01/25/existing-home-sales-rebound-in-december/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

Black Knight: Home prices maintain trend, move higher: Once again, home prices are trending higher,...

Black Knight: Home prices maintain trend, move higher: Once again, home prices are trending higher, rising 0.1% from October, and 5.5% on a year-over-year basis. Most notably, New York led gains among the states for the fifth straight month. Here’s how other states and metros faired. http://www.housingwire.com/articles/36087-black-knight-home-prices-maintain-trend-move-higher ❤️ #share #mortgage

First Freddie Mac NPL sale of 2016 hits market: Freddie Mac announced a $1.6 billion non-performing...

First Freddie Mac NPL sale of 2016 hits market: Freddie Mac announced a $1.6 billion non-performing loan transaction, marking the first one for the year. The NPLs are being marketed via seven pools and are currently serviced by Nationstar #mortgage. http://www.housingwire.com/articles/36088-first-freddie-mac-npl-sale-of-2016-hits-market ❤️ #share #mortgage

Monday Morning Cup of Coffee: It’s time for you to buy a home: One housing expert says housing...

Monday Morning Cup of Coffee: It’s time for you to buy a home: One housing expert says housing sales are increasing, and the CEO of KB Home agrees with her, kind of. But with the Fed raising interest rates, is it a good time to buy a home? Nope, it’s a great time. And here’s proof. http://www.housingwire.com/blogs/1-rewired/post/36092-monday-morning-cup-of-coffee-its-time-for-you-to-buy-a-home ❤️ #share #mortgage

Virginia reaches $63 million settlement with 11 banks for RMBS...

Virginia reaches $63 million settlement with 11 banks for RMBS fraud: The Commonwealth of Virginia announced Friday that it reached a “record” settlement with 11 banks over allegations that the banks defrauded the state’s retirement system by allegedly misrepresenting the quality of residential #mortgage-backed securities in the run-up to the financial crisis. http://www.housingwire.com/articles/36091-virginia-reaches-63-million-settlement-with-11-banks-for-rmbs-fraud ❤️ #share #mortgage

Fox News personality predicts housing crisis, outs self as...

Fox News personality predicts housing crisis, outs self as clueless fear-monger: Cal Thomas, who is apparently “America’s most widely syndicated op-ed columnist,” penned a syndicated column that appeared on FoxNews.com and in scores of newspapers from coast to coast recently, in which he writes that the creation of the HomeReady program by Fannie Mae is one giant step towards another housing apocalypse. Not only does Thomas not know what he’s talking about, he goes on to out himself as a fear-mongering doomsayer. http://www.housingwire.com/blogs/1-rewired/post/36089-fox-news-personality-predicts-housing-crisis-outs-self-as-clueless-fear-monger ❤️ #share #mortgage

i#mortgage appoints two senior production executives: ...

i#mortgage appoints two senior production executives: i#mortgage, a division of loanDepot, announced it appointed two senior production executives, Mary Bane and Jim Weir. Dan Hanson, executive vice president of national production for i#mortgage, said that the hiring and promotion reflect the #lender’s goal to expand. http://www.housingwire.com/articles/36090-imortgage-appoints-two-senior-production-executives ❤️ #share #mortgage

The Highs and Lows of Flipping Houses

January is a time to reflect. Tarek and I have been super-busy over the past several years. We started our own real estate investment business, renovated houses, added a new member to the family, and built a new life for ourselves - all in front of a television crew.

Like many other busy families with young children, we sometimes feel life moves too quickly. Unlike most families, some of the moments that passed by in a blur were documented by a TV camera. I snap a lot of photos, too, and share them on social media when I can, but even that can be a challenge with a crazy schedule.

Fortunately, our kids can look back at the show some day, see the hard work we put in, and see that they were a part of everything. There have been highs and lows, but real estate investing is not just a lifestyle, it’s our family business.

How we got started

When Tarek and I first started flipping houses, we didn’t have much. We were both real estate agents when the recession hit in 2008. We knew there was no way to “ride it out” and just hope things would turn around for us. We decided to take a step that was both calculated, and a leap of faith.

Tarek saw an opportunity for us to leverage our experience and become investors. We traded our Mercedes for a Honda, and swapped our $6,000-a-month mortgage for a $700-a-month rented apartment. We even got a roommate to help make paying the bills easier.

Tarek studied the market and learned as much as he could about investing. We borrowed money for our first flip, and learned a lot through trial and error. That first house took five months longer to renovate and sell than we expected. But, thankfully, it ended up turning a modest profit. We called it a success and decided to stick with it.

No one gets into flipping houses on their own without going through the school of Hard Knocks. We were no exception, and some mistakes were costly. Dealing with contractors, estimating renovation costs incorrectly, and finding hidden problems were just some of the challenges we faced early on.

We had to learn how to flip houses without losing our shirt. Those experiences tempered us and helped hone not only our skills, but our instincts.

We buy houses that others might avoid

Let’s say there are two homes on the market. One is in good condition, with minimal work needed to make it salable. The other needs more than just TLC; it needs an overhaul.

Many investors would gravitate toward the first home - it means less risk. They can slap on a coat of paint, update the bathroom, and put it up for sale. On a large scale, however, that means that all the desirable properties are snapped up and flipped, while those that demand more work are left sitting on the market.

We take on the less-desirable houses. These distressed properties have often been abandoned, foreclosed upon, or have trapped the homeowners in a situation where they can’t sell and can’t afford to maintain the property.

Homes that are neglected, or sit empty year after year are a threat to the neighborhood’s stability. Imagine a neighborhood with multiple houses that have been neglected languishing on the market. They aren’t going to sell anytime soon (or perhaps ever). As they age, they become more and more run down. That affects the entire neighborhood, reducing property values, encouraging vandalism, and more.

Renovating those homes is the core of our business. We spend more time, and a lot more money, to give prospective buyers a nice, safe home. The properties cost less upfront, which is of obvious benefit.

We get to do what it takes to renovate without eating into the budget too much. For Tarek and me, these properties are more gratifying and a better value.

However, it is definitely a riskier approach.

Because we often buy properties sight-unseen, at auction, we don’t know what we’re walking into when get the keys. The house can be filled with garbage, inside and out. There can be horrifying smells, animal waste, or worse.

Once we opened the door to find chickens the previous occupants had left behind! I had to round them up before we could begin work on the property.

Sometimes there are deliberate hassles, too. We’ve seen concrete in toilets, flooring destroyed, cabinetry ripped out. Occasionally there are serious problems that propose a health risk. We’ve found mildew, mold, and asbestos that required professional remediation. Those were real lows.

We return great homes to the market

No matter how tiresome or difficult a reno project gets, it’s always motivating to think of the end result. We know we’re making something substantially better than it was before. That attracts the kind of buyer that is there for the long-haul, not a short-term housing solution. And, believe me, neighbors are appreciative.

One of the best parts of flipping houses is the design process - especially kitchens. We try to be responsive to the neighborhoods when selecting interior materials and landscape elements.

If a house has particular appeal, or is situated among other homes of a similar style, we are sensitive to that. We don’t want to rip the charm out of a mid-century modern home and install fixtures, flooring or landscaping that doesn’t suit the architectural style.

The research, the selection, the installation of beautiful materials - and the big smiles at open houses when we list the house - those are highs.

But you can’t win them all

As with any business, relationship, or project there are highs and lows. We’ve been incredibly blessed to have wonderfully supportive fans of the show. They feel like they know us because they’ve seen our lives play out on camera - Tarek’s life-saving surgery, the birth of Baby Brayden, the remodeling of our own home. They know we’re people who work hard and have learned from our mistakes.

We get asked a ton of questions about house flipping. That’s one of the reasons we started coaching and mentoring. People are genuinely excited to learn what has worked for us.

You might have heard that we cancelled the Success Path training tour through Oregon and Washington, as was reported in The Oregonian, due to a vocal group who somehow linked us to the issue of affordable housing. We are very accustomed to being on the receiving end of people’s opinions. My hairstyles, my mothering, and my interior design choices in flip houses - all are discussed.

Rent affordability is not a local issue. All across America, and abroad, it is a serious topic worthy of discussion. There is no simple solution to such a complex and sensitive situation. When demand exceeds supply there is tension.

In Oregon and in many other states, there always seems to be less and less room to grow. We are aware of the importance of efforts to manage growth, like the Urban Growth Boundary, enacted to limit sprawl and protect farms and wilderness. These efforts all share the common goal of making sure existing space is used wisely.

When it’s all said and done

Renovating older, distressed properties and returning them to the market actually adds inventory to ease some of that pressure. Through the Success Path program, we also teach people how to renovate and offer properties for rent as a way to create cash flow, which adds to the affordable housing inventory. The housing stock naturally becomes more desirable, and home values do catch up eventually.

That can pose a strain for some people, but many people enjoy the increased stability in the neighborhood, stronger tax base, and the additional money for public schools.

As I reflect on our last few years, I can honestly say that one of the best parts of house flipping is feeling like a partner in communities. We’re proud of the work our family business has done to return good, safe homes to the market.

from Zillow Porchlight | Real Estate News, Advice and Inspiration http://www.zillow.com/blog/highs-lows-of-flipping-191071/

Appraisal Institute falls victim to Twitter hack: If you’re a...

Appraisal Institute falls victim to Twitter hack: If you’re a follower of the Appraisal Institute on Twitter, some strange tweets began showing up on your timeline lately. Instead of tweets about the appraisal industry, tweets emanating from the Appraisal Institute’s account for the last 18 hours have more to do with Playboy Magazine, Hooters, David Hasselhoff, links to “sexy” videos, and other inappropriate tweets. That’s because the Appraisal Institute has fallen victim to a Twitter hacking. http://www.housingwire.com/blogs/1-rewired/post/36086-appraisal-institute-becomes-latest-victim-of-twitter-hack ❤️ #share #mortgage

[chart] MBA: How will oil concerns impact housing?: As concerns...

[chart] MBA: How will oil concerns impact housing?: As concerns over falling oil prices start to plague housing, the #mortgage Bankers Association’s latest chart of the week examined the 2015 trend in employment in several states reliant on oil production to help put in perspective the potential impact to the housing market. http://www.housingwire.com/articles/36085-chart-mba-how-will-oil-concerns-impact-housing ❤️ #share #mortgage

Wells Fargo Home #mortgage hires Northeast division sales...

Wells Fargo Home #mortgage hires Northeast division sales manager: Wells Fargo’s most recent hire brings 32 years of #mortgage lending experience as an originator, manager and leader. Todd Johnson joins the company as Northeast Divisional Manager and will be based in Minneapolis http://www.housingwire.com/articles/36084-wells-fargo-home-mortgage-hires-northeast-division-sales-manager ❤️ #share #mortgage

Existing-home sales surge in TRID aftermath: The immediate...

Existing-home sales surge in TRID aftermath: The immediate impact of the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosures rule in October is quickly coming to light as existing-home sales bounce back after November’s steep drop. But before celebrating, NAR President Tom Salomone cautioned that data is still showing longer closing timeframes, which is a reminder that the near-term challenges they anticipated are still prevalent. http://www.housingwire.com/articles/36083-existing-home-sales-surge-in-trid-aftermath ❤️ #share #mortgage

Should I Buy Now Or Wait Until Next Year? [INFOGRAPHIC]: Some...

Should I Buy Now Or Wait Until Next Year? [INFOGRAPHIC]:

Some Highlights:

* The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time.
* Freddie Mac predicts interest rates to rise to 4.8% by next year.
* CoreLogic predicts home prices to appreciate by 5.3% over the next 12 months.
* If you are ready and willing to buy your dream home, find out if you are able to! http://www.simplifyingthemarket.com/2016/01/22/should-i-buy-now-or-wait-until-next-year-infographic/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

Amid complaints of ‘constant harassment,’ New Jersey...

Amid complaints of ‘constant harassment,’ New Jersey town moves to ban real estate solicitors: Residents of a neighborhood in Toms River, New Jersey are so tired of being “constantly harassed” by real estate agents who go door-to-door in their neighborhood offering to buy their homes that they are pushing for a ban of real estate solicitation in the town. http://www.housingwire.com/articles/36081-amid-complaints-of-constant-harassment-new-jersey-town-moves-to-ban-real-estate-solicitors ❤️ #share #mortgage

#mortgage tech company Blend secures $40 million in funding: ...

#mortgage tech company Blend secures $40 million in funding: Blend is the latest San Francisco-based company to say it’s changing the face of the #mortgage industry. The #mortgage tech company announced it raised $40 million in Series C funding, which indicates investors believe them. http://www.housingwire.com/articles/36082-mortgage-tech-company-blend-secures-40-million-in-funding ❤️ #share #mortgage

Utah real estate company charged with operating $28 million...

Utah real estate company charged with operating $28 million Ponzi scheme: A Utah real estate investment company offered investors the promise of a guaranteed return on their investment in “turnkey” houses, but instead bilked more than 250 people out of $28 million by operating a Ponzi scheme, the Securities and Exchange Commission said Thursday. http://www.housingwire.com/articles/36080-utah-real-estate-company-charged-with-operating-28-million-ponzi-scheme ❤️ #share #mortgage

[Infographic] An inside look at Millennial credit profiles: If...

[Infographic] An inside look at Millennial credit profiles: If only 3% of Millennials have taken out a #mortgage, what are they spending their money on? A new infographic from online #lender Avant dives into the question and answers what makes this young demographic different from its predecessors. http://www.housingwire.com/articles/36079-infographic-an-inside-look-at-millennial-credit-profiles ❤️ #share #mortgage

Ten-X promotes Rick Sharga to chief marketing officer: Ten-X,...

Ten-X promotes Rick Sharga to chief marketing officer: Ten-X, the company formerly known as Auction.com, announced Thursday that it is promoting Rick Sharga from executive vice president to chief marketing officer. In this role, Sharga will utilize his “unique blend” of real estate, technology and consumer marketing experience to lead corporate marketing, branding and corporate communications for Ten-X, the company said. http://www.housingwire.com/articles/36078-ten-x-promotes-rick-sharga-to-chief-marketing-officer ❤️ #share #mortgage

Jobless claims post highest reading since July 2015: Jobless...

Jobless claims post highest reading since July 2015: Jobless claims increased to 293,000 filings for the week ending Jan. 16, surpassing an industry consensus of 275,000. In Econoday’s analysis of the report, it noted that while there were no special factors affecting the data, volatility in this series is not unusual at the start of the year. http://www.housingwire.com/articles/36077-jobless-claims-post-highest-reading-since-july-2015 ❤️ #share #mortgage

New York Gov. Andrew Cuomo chooses Maria Vullo to lead NYDFS: ...

New York Gov. Andrew Cuomo chooses Maria Vullo to lead NYDFS: New York Gov. Andrew Cuomo announced Thursday that his office is nominating Maria Vullo to serve as the superintendent of the New York Department of Financial Services, ending a tumultuous period that saw rumors of tension between the governor’s office and the NYDFS surround the departure of the Anthony Albanese as acting superintendent of New York’s top financial regulator. http://www.housingwire.com/articles/36076-new-york-gov-andrew-cuomo-chooses-maria-vullo-to-lead-nydfs ❤️ #share #mortgage

BankUnited execs: Our struggle with #mortgage originations: ...

BankUnited execs: Our struggle with #mortgage originations: BankUnited executives divulged more information on the bank’s decision to stop originating #mortgages during its fourth conference call Thursday morning. While the bank remains positive on other part of its business, it couldn’t say the same for its #mortgage business. http://www.housingwire.com/articles/36075-bankunited-execs-our-struggle-with-mortgage-originations ❤️ #share #mortgage

Freddie Mac: #mortgage rates fall amid market turbulence: ...

Freddie Mac: #mortgage rates fall amid market turbulence: #mortgage rates dropped even further below 4% for the third consecutive week, as nonstop financial market turbulence drove investors to the safe haven of Treasuries. http://www.housingwire.com/articles/36074-freddie-mac-mortgage-rates-fall-amid-market-turbulence ❤️ #share #mortgage

What Do You Actually Need to Get a #mortgage?: Fannie Mae...

What Do You Actually Need to Get a #mortgage?:

Fannie Mae recently released their “What do consumers know about the #mortgage Qualification Criteria?” Study. The study revealed that Americans are misinformed about what is required to qualify for a #mortgage when purchasing a home. Here are three takeaways:

* 59% of Americans either don’t know (54%) or are misinformed (5%) about what FICO score is necessary
* 86% of Americans either don’t know (59%) or are misinformed (25%) about what an appropriate Back End Debt-to-Income (DTI) ratios is
* 76% of Americans either don’t know (40%) or are misinformed (36%) about the minimum down payment required

To help correct these misunderstandings, let’s take a look at the latest Ellie Mae Origination Insight Report, which focuses on recently closed (approved) loans.

FICO SCORES

BACK END DTI

DOWN PAYMENTS

Bottom Line

Whether buying your first home or moving up to your dream home, knowing your options will definitely make the #mortgage process easier. Your dream home may already be within your reach. http://www.simplifyingthemarket.com/2016/01/21/what-do-you-actually-need-to-get-a-mortgage/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

Societe Generale reportedly quitting U.S. #mortgage bond...

Societe Generale reportedly quitting U.S. #mortgage bond business: Societe Generale is reportedly “pulling back” on its U.S. #mortgage-bond trading business, according to an article from Bloomberg. http://www.housingwire.com/articles/36073-societe-generale-reportedly-quitting-us-mortgage-bond-business ❤️ #share #mortgage

Can housing overcome a shaky stock market?: Despite an unstable...

Can housing overcome a shaky stock market?: Despite an unstable stock market, economists predict that the housing market will follow in the labor market’s footsteps rather than the financial market. This doesn’t mean it will be an easy process though. http://www.housingwire.com/articles/36072-can-housing-overcome-a-shaky-stock-market ❤️ #share #mortgage

SEC fines Ocwen $2 million for misstating financials;...

SEC fines Ocwen $2 million for misstating financials; Altisource, HLSS relationships: Ocwen Financial will pay a $2 million fine after a Securities and Exchange Commission investigation found that the nonbank misstated it financials on several occasions by using a “flawed, undisclosed methodology” to value #mortgage servicing rights that were sold to an Ocwen-associated company, Home Loan Servicing Solutions. http://www.housingwire.com/articles/36071-sec-fines-ocwen-2-million-for-misstating-financials-altisource-hlss-relationships ❤️ #share #mortgage

Freddie Mac settles with Deloitte in $1.3 billion suit over...

Freddie Mac settles with Deloitte in $1.3 billion suit over Taylor, Bean & Whitaker: The court battle between Freddie Mac and Deloitte & Touche over allegations of fraud involving the spectacular collapse of Taylor, Bean & Whitaker is now over after the two sides agreed to dismiss Freddie Mac’s $1.3 billion lawsuit against Deloitte. Freddie Mac initially sued Deloitte & Touche in 2014, accusing Deloitte of “gross negligence” in its auditing of TBW. Click the headline to read more. http://www.housingwire.com/articles/36070-freddie-mac-settles-with-deloitte-in-13-billion-suit-over-taylor-bean-whitaker ❤️ #share #mortgage

Stock markets tank as investors go bearish: Investors are...

Stock markets tank as investors go bearish: Investors are scrambling as they continue to head into what is the worst start ever to a calendar year for the stock market. But amid all the negative reports, an article in Business Insider said that in a note to clients, Deutsche Bank’s Jim Reid gave some reason for optimism for the future. http://www.housingwire.com/articles/36069-stock-markets-tank-as-investors-go-bearish ❤️ #share #mortgage

The 3 things that will kill your real estate deal

According to this report in The Washington Post, “in an internal survey of 2,643 realty agents conducted last month but covering sales and purchases during the previous three months, the National Association of Realtors found that 32% — nearly one-third of all transactions — encountered delays of some sort.” Here’s what causes that. http://www.housingwire.com/articles/36068-the-3-things-that-will-kill-your-real-estate-deal ❤️ #share #mortgage

JPMorgan barely phased by TRID, financially: JPMorgan Chase...

JPMorgan barely phased by TRID, financially: JPMorgan Chase weighed in on its dealings with TRID during its fourth quarter conference, shedding light on where big banks stand on the issues. On the call Marianne Lake, chief financial officer of JPMorgan Chase, starts by saying, “So, yes, obviously it was.” But by how much was it? http://www.housingwire.com/articles/36067-jpmorgan-barely-phased-by-trid-financially ❤️ #share #mortgage

Yes, housing starts fell in December, but all is not lost: The...

Yes, housing starts fell in December, but all is not lost: The housing start rollercoaster continued in December, with housing starts falling in December from November, which saw a significant increase from October’s unexpectedly dramatic drop. But several economists noted that the December data, while appearing negative, is actually a positive for housing. http://www.housingwire.com/articles/36066-yes-housing-starts-fell-in-december-but-all-is-not-lost ❤️ #share #mortgage

Chicago housing market saw solid improvement in 2015: The...

Chicago housing market saw solid improvement in 2015: The housing market in the Chicago metropolitan area experienced steady improvement in 2015, with the median sales price and the number of home sales rising over the previous year, according to a new report from RE/MAX. http://www.housingwire.com/articles/36065-chicago-housing-market-saw-solid-improvement-in-2015 ❤️ #share #mortgage

Increase your share of this year’s #mortgage business with...

Increase your share of this year’s #mortgage business with Arch MI RateStar: “Being able to price MI more precisely gives #lenders a significant competitive edge in the 2016 market and beyond. For eligible borrowers, RateStar can mean more affordable #mortgages with lower monthly payments overall.“ http://www.housingwire.com/articles/36059-increase-your-share-of-this-years-mortgage-business-with-arch-mi-ratestar ❤️ #share #mortgage

Goldman Sachs earnings dented by RMBS settlement: Goldman Sachs...

Goldman Sachs earnings dented by RMBS settlement: Goldman Sachs recorded net revenues of $33.82 billion and net earnings of $6.08 billion for the year ended Dec. 31, 2015. However, despite the profit, the recent $5 billion settlement billion between Goldman Sachs and the federal government over claims related to toxic #mortgage bonds sold to investors in the run up to the financial crisis managed to put a dent in the banks earnings, according to the earnings release. http://www.housingwire.com/articles/36064-goldman-sachs-earnings-dented-by-rmbs-settlement ❤️ #share #mortgage

MBA: #mortgage apps jump again, rise 9%

#mortgage applications managed to post another increase as more people choose to refinance their homes. For the second week of the year, applications jumped 9%. http://www.housingwire.com/articles/36061-mba-mortgage-apps-jump-again-rise-9 ❤️ #share #mortgage

Rents Still Skyrocketing: Zillow recently revealed that the...

Rents Still Skyrocketing:

Zillow recently revealed that the 43 million renter households in the US spent $535 billion on rent in 2015. Aggregate numbers like these often make it difficult to truly assess a situation. For more clarity, we want to share some points that were made in a Wall Street Journal article earlier this month.

The article made two important points:

1. Rents are increasing faster than the last several years:

 “Apartment rents increased faster last year than at any time since 2007.”

2. Rent increases are accelerating

“Another report from Axiometrics Inc., a Dallas-based apartment research company, showed that rents increased 4.7% in the fourth quarter compared with the same quarter a year earlier, the strongest year-end performance since 2005”.

Here is a graph to illustrate the rate of increase over the last several years:

http://www.simplifyingthemarket.com/2016/01/20/rents-still-skyrocketing/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

GM lobs #mortgage fraud accusation on ignition-switch trial plaintiff

An Oklahoma man, who is the first to take General Motors to court over its faulty ignition switches, saw his credibility called into serious question when lawyers for the automaker accused him of committing #mortgage fraud. http://www.housingwire.com/articles/36062-gm-lobs-mortgage-fraud-accusation-on-ignition-switch-trial-plaintiff ❤️ #share #mortgage

Accredus expands U.S. operations, names Steven Crawford senior...

Accredus expands U.S. operations, names Steven Crawford senior VP: Accredus Business Services, a provider of business and operational outsourcing services, announced the expansion of its U.S. operations and the appointment of Steven Crawford to the role of senior vice president. In this role, Crawford will oversee Accredus’ banking and financial services operations. http://www.housingwire.com/articles/36060-accredus-expands-us-operations-names-steven-crawford-senior-vp ❤️ #share #mortgage

Silver Bay Realty Trust CEO David Miller resigns: Silver Bay...

Silver Bay Realty Trust CEO David Miller resigns: Silver Bay Realty Trust, a real estate investment trust that focuses on single-family rental homes, announced Tuesday that David Miller, the company’s president, CEO and a member of its board of directors, is resigning, effective immediately. http://www.housingwire.com/articles/36058-silver-bay-realty-trust-ceo-david-miller-resigns ❤️ #share #mortgage

Appraisal volume bodes well for 2016: Moving into the second...

Appraisal volume bodes well for 2016: Moving into the second week of the year, appraisal volume continued to trend higher. While the increase wasn’t as big as the first week of the year, here’s why the appraisal figures are still a positive sign for housing in 2016. http://www.housingwire.com/articles/36057-appraisal-volume-bodes-well-for-2016 ❤️ #share #mortgage

[Video] Demolition begins on Pablo Escobar’s $10 Miami...

[Video] Demolition begins on Pablo Escobar’s $10 Miami mansion: The current owners, Chicken Kitchen owner Christian de Berdouare and his wife, former NBC 6 anchor Jennifer Valoppi, purchased the home in 2014 and are destroying the building to make way for a new home. However, the station reveals that recent thefts are under investigation. http://www.housingwire.com/articles/36056-video-demolition-begins-on-pablo-escobars-10-miami-mansion ❤️ #share #mortgage