Here’s the confusion around independent agencies under Trump's new actions

President Donald Trump recently signed a presidential memoranda and executive order that significantly impact the future of regulations across all industries. But for housing specifically, there’s a major catch. The two new actions do not apply to independent agencies, which include the Consumer Financial protection Bureau. Here’s an explanation behind the confusion. http://www.housingwire.com/articles/39101-heres-what-the-confusion-is-around-independent-agencies-under-trumps-new-actions ❤️ #share #mortgage

Consumer confidence retreats in January

A survey conducted by The Conference Board by Nielsen shows that Americans are less confident in the economy in January. However, other measures of consumer confidence disagree with that notion. Americans are more confident in their present situation, but less optimistic about the future. http://www.housingwire.com/articles/39098-consumer-confidence-retreats-in-january ❤️ #share #mortgage

Homes You Can Own for $1,200 a Month

New #mortgage product increases Ally Financial net income in Q4

Ally Financial saw a net income increase in the fourth quarter, but was still down from the previous year. Its #mortgage department, however, nearly doubled from the previous quarter and the previous year. In fact, Ally saw its #mortgage finance triple over the year. http://www.housingwire.com/articles/39088-new-mortgage-line-increases-ally-financial-net-income-in-q4 ❤️ #share #mortgage

CFPB orders Prospect #mortgage to pay $3.5 million for improper #mortgage referrals

The Consumer Financial Protection Bureau today announced Prospect #mortgage will pay a total of $3.5 million in fines for illegally offering kickbacks for #mortgage business referrals. Three of the companies that received alleged kickbacks are also being fined. http://www.housingwire.com/articles/39085-cfpb-orders-prospect-mortgage-to-pay-35-million-for-improper-mortgage-referrals ❤️ #share #mortgage

Senate Democrats boycott Mnuchin and Price, delay confirmation vote

Democrats on the Senate Finance Committee boycotted the already rescheduled Tuesday meeting to vote on two of President Donald Trump’s Cabinet nominees, Steve Mnuchin, as Treasury secretary, and Tom Price, as head the Health and Human Services department. The move delays the vote even further as Democrats demand answers on recent reports. Republicans leaders, however, say the move is offensive, especially since many Democrats said they’ll vote ‘no’ regardless. http://www.housingwire.com/articles/39082-senate-democrats-boycott-mnuchin-and-price-delay-confirmation-vote ❤️ #share #mortgage

Trulia reports Millennials think housing no longer part of American Dream

The homeownership rate remained the same as it did previous years and previous quarters. The outlook of future homeownership rates may be bleak as Millennials stop saying homeownership is part of the American dream. However, Trulia explains the good news buried in the homeownership rate report. http://www.housingwire.com/articles/39079-homeownership-rate-remains-unchanged-in-q4 ❤️ #share #mortgage

Why isn't Freddie Mac on board with all these rosy outlooks?

Clearly, the housing market is doing just fine. Read the latest Case-Shiller. Housing pretty much recovered. And Ten-X, too. Home sales increased in January. Don’t forget Black Knight. Home prices are so close to a new peak. So why isn’t Freddie Mac on board with all these rosy, housing outlooks? http://www.housingwire.com/blogs/1-rewired/post/39078-why-isnt-freddie-mac-on-board-with-all-these-rosy-outlooks ❤️ #share #mortgage

S&P: Private #mortgage insurance all set for another banner year

Why such an upbeat outlook? Well, troubled vintages are winding down in an orderly fashion. Also, recent #mortgages are comparatively high credit in terms of underlying quality. And it’s not just for 2017, as S&P predicts private #mortgage insurers are set to enjoy robust earnings over the next few years. But, here’s the catch. http://www.housingwire.com/articles/39076-sp-private-mortgage-insurance-all-set-for-another-banner-year ❤️ #share #mortgage

Step one: MBA reveals plans for GSE reform

Talks around reforming Fannie Mae and Freddie Mac are only growing stronger as the nation transitions to a Republican administration. As the association representing the housing finance industry, the #mortgage Bankers Association released its initial plans for its recommended approach for GSE reform. The team behind the plans is made up of some of the top #lenders in the industry. http://www.housingwire.com/articles/39075-step-one-mba-reveals-plans-for-gse-reform ❤️ #share #mortgage

Ten-X predicts increase in January existing home sales

After December’s decrease in existing home sales, Ten-X predicts January will bring a fresh start with new increases. It also predicts a continued rise in home prices for the month. Here’s more on the company’s predictions, and how close those predictions were in December. http://www.housingwire.com/articles/39074-ten-x-predicts-increase-in-january-existing-home-sales ❤️ #share #mortgage

Case-Shiller: Housing market now officially, completely recovered

Home prices increased in November, bringing a chairman of the Index Committee to explain that the housing market is completely recovered from the crisis. Case-Shiller’s top 20 cities all posted monthly increases after seasonal adjustment. One expert explains why the new administration could push home prices even further in the months to come. http://www.housingwire.com/articles/39073-case-shiller-housing-market-now-officially-completely-recovered ❤️ #share #mortgage

Thinking of Making an Offer? 4 Tips for Success

So you’ve been searching for that perfect house to call a ‘home,’ and you finally found one! The price is right, and in such a competitive market that you want to make sure you make a good offer so that you can guarantee your dream of making this house yours comes true!

Freddie Mac covered “4 Tips for Making an Offer” in their latest Executive Perspective. Here are the 4 Tips they covered along with some additional information for your consideration:

1. Understand How Much You Can Afford

“While it’s not nearly as fun as house hunting, fully understanding your finances is critical in making an offer.”

This ‘tip’ or ‘step’ really should take place before you start your home search process.

As we’ve mentioned before, getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and will allow you to make your offer with the confidence of knowing that you have already been approved for a #mortgage for that amount. You will also need to know if you are prepared to make any repairs that may need to be made to the house (ex: new roof, new furnace).

2. Act Fast

“Even though there are fewer investors, the inventory of homes for sale is also low and competition for housing continues to heat up in many parts of the country.”

According to the latest Existing Home Sales Report, the inventory of homes for sale is currently at a 3.6-month supply; This is well below the 6-month supply that is needed for a ‘normal’ market. Buyer demand has continued to outpace the supply of homes for sale, causing buyers to compete with each other for their dream homes.

Make sure that as soon as you decide that you want to make an offer, you work with your agent to present it as soon as possible.

3. Make a Solid Offer

Freddie Mac offers this advice to help make your offer the strongest it can be:

“Your strongest offer will be comparable with other sales and listings in the neighborhood. A licensed real estate agent active in the neighborhoods you are considering will be instrumental in helping you put in a solid offer based on their experience and other key considerations such as recent sales of similar homes, the condition of the house and what you can afford.”

Consider ways of making your offer stand out! Many buyers write a personal letter to the seller letting them know how much they would love to be the new homeowners. Your agent will be able to help you figure out if there are any other ways your offer could stand out above the rest.

4. Be Prepared to Negotiate

“It’s likely that you’ll get at least one counteroffer from the sellers so be prepared. The two things most likely to be negotiated are the selling price and closing date. Given that, you’ll be glad you did your homework first to understand how much you can afford.

Your agent will also be key in the negotiation process, giving you guidance on the counteroffer and making sure that the agreed-to contract terms are met.”

If your offer is approved, Freddie Mac urges you to “always get an independent home inspection, so you know the true condition of the home. If the inspection uncovers undisclosed problems or issues, you can typically re-negotiate the terms or cancel the contract.”

Bottom Line 

Whether buying your first home or your fifth, having a local professional on your side who is an expert in their market is your best bet to make sure the process goes smoothly. Happy House Hunting! http://www.simplifyingthemarket.com/en/2017/01/31/thinking-of-making-an-offer-4-tips-for-success/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

The future of TRID hangs in the balance amid Trump regulatory actions

A freeze on a final rule of the Consumer Financial Protection Bureau’s Know Before You Owe #mortgage disclosure rule, also called TRID, could become an unfortunate side effect of Trump’s executive order on Monday. The last status update the bureau gave the industry was that it would weigh submitted comments and then issue a final rule. But will the industry ever get its much-needed answers to TRID with the new regulatory actions Trump announced? http://www.housingwire.com/blogs/1-rewired/post/39072-the-future-of-trid-hangs-in-the-balance-amid-trump-regulatory-actions ❤️ #share #mortgage

Democrats declare opposition to Mnuchin, delay confirmation vote

The Senate Finance Committee planned to meet Monday evening to vote on the confirmation of Steve Mnuchin, the Trump administration’s choice to lead the Department of the Treasury, but that vote will no longer happen, as Senate Democrats moved to delay the vote, while other party leaders declared their opposition to Mnuchin as Treasury Secretary. http://www.housingwire.com/articles/39071-democrats-declare-opposition-to-mnuchin-delay-confirmation-vote ❤️ #share #mortgage

Black Knight: Home prices so close to a new national peak

The Data & Analytics division of Black Knight Financial Services released its latest Home Price Index  report, based on November 2016 residential real estate transactions. The company finds that after rising 5.7% from the start of 2016, U.S. home prices are now within just 0.3% of a “new national peak.” http://www.housingwire.com/articles/39070-black-knight-home-prices-so-close-to-a-new-national-peak ❤️ #share #mortgage

Here's how and why Citi#mortgage is leaving #mortgage servicing

Citi#mortgage surprised few in the housing business on Monday when it announced that it agreed to a massive #mortgage servicing rights deal with New Residential Investment and Nationstar #mortgage. As it often is with deals of this type, the devil is in the details. And one of the details of this deal is that the MSR sale is a precursor to Citi#mortgage completely exiting the #mortgage servicing business. Here’s a breakdown of how the deal works, and why Citi plans to leave #mortgage servicing behind. http://www.housingwire.com/articles/39069-heres-how-and-why-citimortgage-is-leaving-mortgage-servicing ❤️ #share #mortgage

Trump signs executive order to massively roll back regulation

President Donald Trump signed an executive order Monday morning to significantly roll back regulations, following through on claims that he would be “cutting regulation massively.” And Trump didn’t stop at reducing regulation, as the order also shows an added focus on reduced regulatory costs. http://www.housingwire.com/articles/39068-trump-signs-executive-order-to-massively-roll-back-regulation ❤️ #share #mortgage

First American: Rising interest rates finally takes toll on home affordability

Affordability took a hit in November, according to First American, which tracks what it calls “real house prices.” But while real home prices saw an uptick for the month, reversing a six-month trend, First American’s chief economist explains home prices are still at their most affordable point in nearly two decades. http://www.housingwire.com/articles/39067-first-american-rising-interest-rates-finally-takes-toll-on-home-affordability ❤️ #share #mortgage

Realtors pick their top 10 hottest housing markets for 2017

While January is typically the slowest month of the year for real estate, the market remained strong at the start of 2017. Homes flew off the market faster than the previous year at home prices that were 10% higher than the previous year. Here are the top 10 markets for the start of the new year. http://www.housingwire.com/articles/39066-realtors-pick-their-top-10-hottest-housing-markets-for-2017 ❤️ #share #mortgage

Pending home sales close out 2016 on a high note

Pending home sales finished the year out strong with an increase in December, however were still weighed down by low inventory levels. The National Association of Realtors’ chief economist explains why that burden could start to lessen in 2017. http://www.housingwire.com/articles/39065-pending-home-sales-close-out-2016-on-a-high-note ❤️ #share #mortgage

Citi#mortgage exits #mortgage servicing business

“This announcement further demonstrates Nationstar’s role as a leading subservicing provider to the residential #mortgage servicing market. We look forward to welcoming over 750,000 customers to Nationstar, and believe our strategic relationship with New Residential will create meaningful value for these customers and our shareholders,” said Jay Bray, Chairman and Chief Executive Officer of Nationstar, said in a statement. http://www.housingwire.com/articles/39064-citimortgage-exits-mortgage-servicing-business ❤️ #share #mortgage

2 Myths That May Be Holding Back Buyers

Fannie Mae’s article, “What Consumers (Don’t) Know About #mortgage Qualification Criteria,” revealed that “only 5 to 16 percent of respondents know the correct ranges for key #mortgage qualification criteria.”

Myth #1: “I Need a 20% Down Payment”

Fannie Mae’s survey revealed that consumers overestimate the down payment funds needed to qualify for a home loan. According to the report, 76% of Americans either don’t know (40%) or are misinformed (36%) about the minimum down payment required.

Many believe that they need at least 20% down to buy their dream home, but many programs actually let buyers put down as little as 3%.

Below are the results of a Digital Risk survey of Millennials who recently purchased a home.

As you can see, 64.2% were able to purchase their home by putting down less than 20%, with 43.8% putting down less than 10%!

Myth #2: “I need a 780 FICO Score or Higher to Buy”

The survey revealed that 59% of Americans either don’t know (54%) or are misinformed (5%) about what FICO score is necessary to qualify.

Many Americans believe a ‘good’ credit score is 780 or higher.

To help debunk this myth, let’s take a look at Ellie Mae’s latest Origination Insight Report, which focuses on recently closed (approved) loans. As you can see below, 54.7% of approved #mortgages had a credit score of 600-749.

Bottom Line

Whether buying your first home or moving up to your dream home, knowing your options will make the #mortgage process easier. Your dream home may already be within your reach. http://www.simplifyingthemarket.com/en/2017/01/30/2-myths-that-may-be-holding-back-buyers/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

Monday Morning Cup of Coffee: Two senators join battle between the CFPB and PHH

While the landmark case between PHH and the Consumer Financial Protection Bureau awaits a decision on whether the full Court of Appeals will rehear the case, more politicians are publicly voicing their support for the bureau. So what’s the big reason for the added support? The new Trump administration. Meanwhile, Chronos Solutions’ new CEO announcement on Friday isn’t the company’s only news. http://www.housingwire.com/blogs/1-rewired/post/39063-monday-morning-cup-of-coffee-two-senators-join-battle-between-the-cfpb-and-phh ❤️ #share #mortgage

Buying a home in 2017? Pro Teck says it will be hard to find a house

Housing inventory shortages already plagued 2016, and given that houses don’t crop up overnight, it’s not likely 2017 will be much better. This new chart from Pro Teck shows exactly how dry the housing market is. http://www.housingwire.com/articles/39061-buying-a-home-in-2017-pro-teck-says-it-will-be-hard-to-find-a-house ❤️ #share #mortgage

What to Expect From Your Home Inspection

So you made an offer, it was accepted, and now your next task is to have the home inspected prior to closing. More often than not, your agent may have made your offer contingent on a clean home inspection.

This contingency allows you to renegotiate the price paid for the home, ask the sellers to cover repairs, or even, in some cases, walk away. Your agent can advise you on the best course of action once the report is filed.

How to Choose an Inspector

Your agent will most likely have a short list of inspectors that they have worked with in the past that they can recommend to you. Realtor.com suggests that you consider the following 5 areas when choosing the right home inspector for you:

* Qualifications – find out what’s included in your inspection & if the age or location of your home may warrant specific certifications or specialties.
* Sample Reports – ask for a sample inspection report so you can review how thoroughly they will be inspecting your dream home. The more detailed the report, the better in most cases.
* References – do your homework – ask for phone numbers and names of past clients that you can call to ask about their experience.
* Memberships – Not all inspectors belong to a national or state association of home inspectors, and membership in one of these groups should not be the only way to evaluate your choice. Membership in one of these organizations often means that there is continued training and education provided.
* Errors & Omission Insurance – Find out what the liability of the inspector or inspection company is once the inspection is over. The inspector is only human after all, and it is possible that they might miss something they should have seen.

Ask your inspector if it’s ok for you to tag along during the inspection, that way they can point out anything that should be addressed or fixed.

Don’t be surprised to see your inspector climbing on the roof, crawling around in the attic, and on the floors. The job of the inspector is to protect your investment and find any issues with the home, including but not limited to: the roof, plumbing, electrical components, appliances, heating & air conditioning systems, ventilation, windows, the fireplace & chimney, the foundation and so much more!

Bottom Line

They say ‘ignorance is bliss,’ but not when investing your hard-earned money in a home of your own. Work with a professional you can trust to give you the most information possible about your new home so that you can make the most educated decision about your purchase. http://www.simplifyingthemarket.com/en/2017/01/29/what-to-expect-from-your-home-inspection/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

Own Jason Segel's Former Hollywood Hills Compound

Danielle Steel Lists Her Historic Mansion

Meet the latest hotbed for housing: Dallas, Texas

The housing market in Texas continues to expand, reaching new highs in some of its cities. One expert explains why Dallas is the new hotbed for housing. Many local businesses are even beginning expansion plans for the city, including Movement #mortgage. http://www.housingwire.com/articles/39062-meet-the-latest-hotbed-for-housing-dallas-texas ❤️ #share #mortgage

EXCLUSIVE: Matt Martin steps aside as CEO of Chronos Solutions

At the age of 22, Matt Martin co-founded Matt Martin Real Estate Management, which was named to Inc. magazine’s 2012 list of America’s 500 fastest-growing companies. In 2015, the company rebranded as Chronos Solutions to help reflect its expanded offerings, which include HOA solutions, accelerated asset liquidation, REO asset management among other services. Now, he is stepping aside. http://www.housingwire.com/articles/39060-exclusive-matt-martin-steps-aside-as-ceo-of-chronos-solutions ❤️ #share #mortgage

#mortgage bond trader Jesse Litvak convicted of fraud, again

The tale of Jesse Litvak may finally be moving toward an ending, as a federal jury on Friday found the former Jefferies managing director and #mortgage-backed securities trader guilty on one count of fraud. It’s a significant difference from Litvak’s previous conviction, when a jury found him guilty on 15 counts of fraud. http://www.housingwire.com/articles/39059-mortgage-bond-trader-jesse-litvak-convicted-of-fraud-again ❤️ #share #mortgage

[Video] Here’s the latest update to the MBA’s economic forecast for 2017

It’s an understatement to say the housing market and overall economy has changed since October 2016 when the #mortgage Bankers Association put out its original economic forecast. Lynn Fisher, the #mortgage Bankers Association’s vice president of research and economics, explains in an updated origination forecast what new changes to expect in 2017. http://www.housingwire.com/articles/39058-video-heres-the-latest-update-to-the-mbas-economic-forecast-for-2017 ❤️ #share #mortgage

Consumer confidence hits highest level in 12 years

Consumer sentiment inched up again in January, hitting its highest level in two years. While optimism is high, however, the division was high between political party lines. While Republicans were highly optimistic, Democrats were not, marking the most divided responses in 20 years. http://www.housingwire.com/articles/39057-consumer-sentiment-hits-highest-level-in-12-years ❤️ #share #mortgage

Redfin gets into the #mortgage business

There’s about to be a new player in the #mortgage space, one that boasts it can be a true digital “one-stop shop” for #homebuyers, taking them all the way from finding a real estate agent to finding a house and getting a #mortgage. And while others claim they can do the same thing, this one brings a well-known name and built-in digital experience. Meet Redfin #mortgage. That’s right; Redfin is getting into the #mortgage lending business. http://www.housingwire.com/articles/39056-redfin-gets-into-the-mortgage-business ❤️ #share #mortgage

Does fourth quarter GDP foretell a slowdown in home affordability?

The slower growth in gross domestic product during the fourth quarter had its bright spots, such as the increased spending in residential investment. The outlook for 2017 remains positive, however one expert explains why the low GDP could foretell a slowdown in home affordability. http://www.housingwire.com/articles/39055-does-fourth-quarter-gdp-foretell-a-slowdown-in-housing ❤️ #share #mortgage

Home Point Financial acquires Stonegate #mortgage for $211 million cash

In a major growth move, Home Point Financial Corporation announced a definitive agreement to acquire Stonegate #mortgage Corporation in an all-cash transaction valued at approximately $211 million. The acquisition, if completed, would position Home Point as a top-25 #mortgage originator and servicer. http://www.housingwire.com/articles/39054-home-point-financial-acquires-stonegate-mortgage-for-211-million-cash ❤️ #share #mortgage

GDP growing, but at slower pace in Q4

Real gross domestic product continues to climb but at a slower rate in the fourth quarter than in the third. The deceleration was driven by exports and government spending. The Bureau of Economic Analysis’ first estimate breaks down the increases to GDP in the fourth quarter. http://www.housingwire.com/articles/39053-gdp-growing-but-at-slower-pace-in-q4 ❤️ #share #mortgage

Sales at Highest Pace in 10 Years! [INFOGRAPHIC]

Highlights:

* 45 million existing homes were sold in 2016! This is the highest mark set since 2006.
* Inventory of existing homes for sale dropped to a 3.6-month supply, the lowest level since NAR began tracking in 1999.
* The median price of homes sold in December was $232,200. This is the 58th consecutive month of year-over-year price gains. http://www.simplifyingthemarket.com/en/2017/01/27/sales-at-highest-pace-in-10-years-infographic/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

Urban Institute: Suspending the FHA #mortgage insurance premium cut is a good idea

Taking the suspension one step further, the Urban Institute posted a blog on the recent HUD announcement, stating that not only is the suspension a good idea but it should be stopped until the FHA Mutual #mortgage Insurance Fund can build up more money. Unlike those who are arguing that suspending the cut is leaving thousands of borrowers on the sidelines, the blog says, overall, it’s not the best option. http://www.housingwire.com/articles/39052-urban-institute-suspending-the-fha-mortgage-insurance-premium-cut-is-a-good-idea ❤️ #share #mortgage

Pence, Hensarling: Dismantling Dodd-Frank remains a high priority

It’s been a busy first week in office for President Donald Trump, with executive orders on immigration, energy, trade, health care and more being handed down daily. But executive orders are just the preamble to the big initiatives that Trump and the Republican majority in Congress are expected to push for shortly. Chief among those is the “dismantling” of the Dodd-Frank Wall Street Reform Act. http://www.housingwire.com/articles/39051-pence-hensarling-dismantling-dodd-frank-remains-a-high-priority ❤️ #share #mortgage

loanDepot reaches landmark $100 billion in funded loans

loanDepot kept busy the past seven years since it launched into the housing finance market after the financial crisis. And all the hard work is paying off as the nonbank announced it funded $100 billion in home, personal and home equity loans. And Chairman and CEO Anthony Hsieh says that the company isn’t done growing. http://www.housingwire.com/articles/39050-loandepot-reaches-landmark-100-billion-in-funded-loans ❤️ #share #mortgage

Trump’s #mortgage Nation – an inside look at HousingWire’s webinar

Will Trump repeal Dodd Frank? Does Cordray have a future at the CFPB? Is GSE reform on the way? Experts from the housing industry answered these questions and more today in HousingWire’s webinar, Trump’s #mortgage Nation. Didn’t have time to watch the whole thing? We have you covered. Here are the cherries from today, plus how to still watch it in full. http://www.housingwire.com/blogs/1-rewired/post/39049-trumps-mortgage-nation-an-inside-look-at-housingwires-webinar ❤️ #share #mortgage

RBS sets aside $3.8 billion more for RMBS settlement with DOJ

It appears that despite a new administration running the ship in Washington, D.C., the federal government still plans to seek restitution for the events that led to the financial crisis, or at least that’s what one foreign bank thinks. Royal Bank of Scotland said Thursday that it is setting aside $3.8 billion to be used to settle with the government. http://www.housingwire.com/articles/39048-rbs-sets-aside-38-billion-more-for-rmbs-settlement-with-doj ❤️ #share #mortgage

PC#lender partners with Blend to bring digital #mortgages to more #lenders

PC#lender, a provider of internet-based #mortgage solutions for community banks and credit unions, announced this week that it is entering into a partnership with Blend to bring digital #mortgages to more #lenders. As a result of the partnership, #lenders who use PC#lender will be able to use Blend’s platform to create an end-to-end digital #mortgage experience for consumers. http://www.housingwire.com/articles/39047-pclender-partners-with-blend-to-bring-digital-mortgages-to-more-lenders ❤️ #share #mortgage

Housing experts: December’s drop in home sales is business as usual

The consensus is in, and overall, housing experts remain positive about new home sales, despite the 10% drop from November. Here’s why one expert instructs: Don’t read too much into it. http://www.housingwire.com/articles/39046-housing-experts-decembers-drop-in-home-sales-is-business-as-usual ❤️ #share #mortgage

Morningstar: Here's the impact of rising interest rates on #mortgage-backed securities

The latest data from Freddie Mac, released Thursday, showed that #mortgage interest rates are on the rise again. What will the impact of rising interest rates be on #mortgage-backed securities, especially private-label #mortgages? A new report from Morningstar has the answers. And here they are. http://www.housingwire.com/articles/39045-morningstar-heres-the-impact-of-rising-interest-rates-on-mortgage-backed-securities ❤️ #share #mortgage

New home sales drop more than 10% in December

Following the drop seen earlier this week in existing home sales, new home sales followed suite and dropped in December. However, performance was still up for the year as 2016 saw an increase in new home sales by over 12%. http://www.housingwire.com/articles/39044-new-home-sales-drop-more-than-10-in-december ❤️ #share #mortgage

Freddie Mac: #mortgage rates shoot up once again

#mortgage rates broke the downward trend from the last three weeks with this week’s increase, the first since Dec. 29. However, despite the increase, hope of home-price deceleration is minimal as the housing market continues to struggle with its lowest inventory since 1999. http://www.housingwire.com/articles/39043-freddie-mac-mortgage-rates-shoot-up-once-again ❤️ #share #mortgage

Radian posts new record in #mortgage insurance written for 2016

Despite a drop in net income, Radian’s CEO S.A. Ibrahim is still positive on the company’s results. The private #mortgage insurer set new records for writing its highest volume of high-quality and profitable flow #mortgage insurance business in Radian’s history. http://www.housingwire.com/articles/39042-radian-posts-new-record-in-mortgage-insurance-written-for-2016 ❤️ #share #mortgage

Thinking of Selling? Why Now is 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 homes 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 the months in which most people listed their homes for sale in 2016. 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 1,820,000.

That number spiked to 2,140,000 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/en/2017/01/26/thinking-of-selling-why-now-is-the-time/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

Shared equity provider Point selects Roundpoint #mortgage Servicing to act as servicer

Point, a financial technology platform that offers homeowners the opportunity take equity out of their home without taking on new debt, is partnering with Roundpoint #mortgage Servicing, which will service the assets that Point acquires, the companies announced this week. http://www.housingwire.com/articles/39041-shared-equity-provider-point-selects-roundpoint-mortgage-servicing-to-act-as-servicer ❤️ #share #mortgage

Trump protesters hang giant "RESIST" sign from crane at Fannie Mae’s new headquarters

The skyline of downtown Washington, D.C. looked a little different on Wednesday morning after activists climbed a 270-foot crane that overlooks the White House and hung a massive banner that read “RESIST.” The crane in question is, of all places, at the site of the new headquarters for Fannie Mae, currently under construction just a half mile away from the White House. http://www.housingwire.com/articles/39040-trump-protestors-hang-giant-resist-sign-from-crane-at-fannie-maes-new-headquarters ❤️ #share #mortgage

CFPB’s final #mortgage servicing rule implementation possibly delayed

The implementation date of the Consumer Financial Protection Bureau’s final #mortgage servicing rule lies in question after the Trump administration announced a freeze on federal regulations. The bureau is currently evaluating whether the freeze on regulations applies to independent agencies, but if it upholds it, there will be a 60-day minimum delay on the final #mortgage servicing rule. http://www.housingwire.com/articles/39039-cfpbs-final-mortgage-servicing-rule-implementation-possibly-delayed ❤️ #share #mortgage

Two men shot execution style at NYC #mortgage company

Two men were shot execution style inside a #mortgage business in Staten Island. Little is known about the shooting, however one of the men killed was believed to be a whistleblower and the state’s only witness against a financial planning company. http://www.housingwire.com/articles/39038-two-men-shot-execution-style-at-nyc-mortgage-company ❤️ #share #mortgage

RealPage seeks to build apartment data giant with acquisition of Axiometrics

RealPage, a provider of software and data analytics to the real estate industry, is growing its operation and seeking to create an apartment data giant with a pair of deals - acquiring “substantially all of the assets” of Axiometrics, a provider of apartment market data, for approximately $75 million; and entering into a “long-term” deal with Real Capital Analytics, a provider of multifamily sales transaction data and analytics. http://www.housingwire.com/articles/39037-realpage-seeks-to-build-apartment-data-giant-with-acquisition-of-axiometrics ❤️ #share #mortgage

Tour Jane Fonda's Glass House in Beverly Hills

Oscar winner and activist Jane Fonda and her former partner, music producer Richard Perry, are selling their Beverly Hills mansion, a home Fonda loves for relaxing and throwing parties.

“Architecture is very important to me,” she says in a video for the $12.995 million listing. “It’s got really good, strong lines. The landscaping, the Melaleuca trees and the way they’re planted…. All these things were like, ‘This place has taste.‘”

Fonda demonstrates her own flair for design throughout the 7,102-square-foot mansion, with elegant furniture that’s an understated backdrop to a stunning art collection.

Modern sculptures and paintings complement the home’s 1961 vintage — but the art that stands out most is a collection of six Andy Warhol painting proofs of Fonda in the signature, brightly colored style that Warhol used to depict other icons including Elizabeth Taylor and Marilyn Monroe.

They are situated below a skylight on a staircase that’s just around the corner from the kitchen Fonda adores. “All the windows look out over a valley, over the hills — the real surface of the California I grew up with in the late ’30s and early ’40s,” she said.

She also highlights the glass elevator, the giant walk-in closet, and her cave-like office with a window that looks out under a tree. “I feel like I’m in a nest, almost.”

The backyard is built for entertaining, with an outdoor living room, a solar-heated pool that lights up at night, and a deck that juts out beyond a cliff with a fire pit and a view of the unparalleled Hollywood sunset.

The 4-bedroom, 7.5-bath home is located in the Beverly Hills enclave of Trousdale Estates, which has long been home to megawatt stars including Frank Sinatra, Groucho Marx and Elvis Presley.

The listing agents are Jade Mills, Valerie Fitzgerald, and David Frank of Coldwell Banker Previews International.

Take a tour of Beverly Hills, and check out Fonda’s pitch for her new listing:

Photos courtesy of Coldwell Banker Previews International. Video by Carlo Alberto Orecchia.

Related:

• Meryl Streep’s Former NYC Townhouse Lists for $28.5M
• Do Palm Springs Like Zsa Zsa in the ’60s
• Goldie Hawn & Kurt Russell List Their Longtime LA Mansion

from Zillow Porchlight http://www.zillow.com/blog/jane-fonda-glass-house-210879/

Want to join the CFPB’s advisory board and councils?

The Consumer Financial Protection Bureau started accepting applications to join three of its four independent advisory groups, which give formal input on everything from consumer engagement, to policy development to research. Think you have what it takes to join? Here are the 15 seats opening up this fall. http://www.housingwire.com/articles/39035-want-to-join-the-cfpbs-advisory-board-and-councils ❤️ #share #mortgage

CoreLogic: Cash sales increase yet again in October

While cash sales are down annually, October just hit its fourth consecutive month of increases. CoreLogic’s data shows, however, that distressed sales decreased to their lowest levels since 2007. http://www.housingwire.com/articles/39036-corelogic-cash-sales-increase-yet-again-in-october ❤️ #share #mortgage

Who cares if the Dow hit 20K? Not most of us

On the floor of the New York Stock Exchange, at the offices of investment brokers, and in corporate boardrooms throughout the country, there were hearty celebrations on Wednesday morning as an artificial number hit an arbitrary target. People doffed cheap embroidered hats. They poured Champagne. Frivolity was the order of the day. But for the rest of us, the Dow hitting 20,000 doesn’t mean a damn thing. http://www.housingwire.com/blogs/1-rewired/post/39034-who-cares-if-the-dow-hit-20k-not-most-of-us ❤️ #share #mortgage

FHFA: Home prices barely increase in November

Home prices increased slightly in November, but at a higher rate that the previous month. The Federal Housing Finance Agency shows the increase, and a breakdown of the increases across divisions of the U.S. http://www.housingwire.com/articles/39033-fhfa-home-prices-barely-increase-in-november ❤️ #share #mortgage

It's official: Dow finally passes 20K milestone

After flirting with the milestone for weeks, the Dow finally passed 20,000 for the first time ever. Some are calling the sudden surge the “Trump Rally” reigniting. But what caused this increase, and will it last? Click the headline to read more. http://www.housingwire.com/articles/39032-its-official-dow-finally-passes-20k-milestone ❤️ #share #mortgage

MBA: Purchase applications drive increase in #mortgages

#mortgage applications moved slightly higher thanks to a boost in purchase applications. Meanwhile, refinance demand continues to dwindle as its share of #mortgage activity now only sits at 50% of total applications. http://www.housingwire.com/articles/39029-mba-purchase-applications-drive-increase-in-mortgages ❤️ #share #mortgage

Buying a Home is More Affordable Than Renting in 66% of US Counties

According to ATTOM Data Solutions’ 2017 Rental Affordability Report, buying a home is more affordable than renting in 354 of the 540 U.S. counties they analyzed.

The report found that “making monthly house payments on a median-priced home — including #mortgage, property taxes and insurance — is more affordable than the fair market rent on a three-bedroom property in 354 of the 540 counties analyzed in the report (66 percent).”

For the report, ATTOM Data Solutions compared recently released fair market rent data from the Department of Housing and Urban Development with reported income amounts from the Department of Labor and Statistics to determine the percentage of income that a family would have to spend on their monthly housing cost (rent or #mortgage payments).

Rents have been surging faster than home prices in about 37% of the markets measured. Daren Blomquist, Senior Vice President of ATTOM Data Solutions warns that rising interest rates could be the tipping point of affordability:

“While buying continues to be more affordable than renting in the majority of U.S. markets, that equation could change quickly if #mortgage rates keep rising in 2017. In that scenario, renters who have not yet made the leap to homeownership will find it even more difficult to make that leap this year.”

Bottom Line

Rents will continue to rise and #mortgage interest rates are still at historic lows. Before you sign or renew your next lease, meet with a local professional who can help you determine if you are able to buy a home of your own and lock in your monthly housing expense. http://www.simplifyingthemarket.com/en/2017/01/25/buying-a-home-is-more-affordable-than-renting-in-66-of-us-counties/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

Wells Fargo customers to receive $50 million for overcharged #mortgage fees

Borrowers who had a #mortgage serviced by Wells Fargo between May 6, 2005 and July 1, 2010 could soon receive their share of a $50 million settlement, which stemmed from charges that Wells Fargo overcharged borrowers for Broker’s Price Opinions during the time period in question. http://www.housingwire.com/articles/39030-wells-fargo-customers-to-receive-50-million-for-overcharged-mortgage-fees ❤️ #share #mortgage

CFPB Director Cordray: We will continue enforcing existing rules

Even though there’s an ongoing battle over his unusual authority, Consumer Financial Protection Bureau Director Richard Cordray said he has no plans to stop enforcing existing consumer protection rules. Regardless of who is in power, the CFPB is a law enforcement agency, separate of partisan politics, according to Cordray. http://www.housingwire.com/articles/39028-cfpb-director-cordray-we-will-continue-enforcing-existing-rules ❤️ #share #mortgage

ServiceLink fined $65 million for LPS foreclosure deficiencies

The ghost of #lender Processing Services came back to haunt ServiceLink and Black Knight Financial Services on Tuesday, as the Federal Reserve, Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corp. announced that they are fining ServiceLink $65 million for the “improper actions” of LPS that contributed to a massive settlement with the government over industry-wide foreclosure misconduct that occurred after the housing crash. http://www.housingwire.com/articles/39027-servicelink-fined-65-million-for-lps-foreclosure-deficiencies ❤️ #share #mortgage

Blackstone's Invitation Homes prepares $1.5 billion IPO

The initial public offering for Blackstone Group’s single-family rental operator, Invitation Homes, is one step closer to reality, as the company disclosed the terms of its initial public offering on Monday. Per a filing with the Securities and Exchange Commission, Invitation Homes will offer 77 million shares in its IPO, with an estimated share price of between $18 and $21 per share. http://www.housingwire.com/articles/39026-blackstones-invitation-homes-prepares-15-billion-ipo ❤️ #share #mortgage

Meryl Streep's Former NYC Townhouse Lists for $28.5M

Just steps off Fifth Avenue in the heart of Manhattan sits a red brick townhouse fit for the queen of American cinema. Meryl Streep owned this Late Greek Revival beauty until 2005, when she sold it for $9.1 million. It’s changed hands a couple of times since then, and is now on the market for $28.5 million.

The five-story Greenwich Village home still holds the charm of its origins, which trace to 1845, and is rich in modern conveniences, including a sleek chef’s kitchen with two Miele ovens, two dishwashers, a Sub-Zero refrigerator/freezer, and warming drawers.

The adjoining dining area boasts a wall of windows that open onto the backyard garden. The “parlor floor” on the second level features a large living room and a formal dining room, both with 12-foot ceilings and fireplaces. A bar area connects them, and a terrace on that floor includes a staircase to the garden.

The townhouse spans 6,585 square feet with 5 bedrooms and 8 baths, including a fifth-floor master suite with a skylight that extends the entire 25-foot width of the home, and a dressing room with its own skylight. The suite’s Italian marble bath is a vast expanse of luxury: It measures 450 square feet and offers a spa-like experience with a fireplace, a cast iron soaking tub and a freestanding shower.

Take the stairs one more story to the rooftop deck, featuring lush plantings and views of the city.

The listing agents are Pamela Johananoff, Leighton Candler and Bradley Comisar with Corcoran Group Real Estate.

Photos courtesy of Corcoran Group Real Estate.

Related:

• See Inside the Homes of 10 Golden Globe Winners
• 10 High-Wattage Celebrity Home Handoffs
• Uma Thurman Sells NYC Duplex Above List Price

from Zillow Porchlight http://www.zillow.com/blog/meryl-streep-former-townhouse-210713/

Choose Adventure With Alternative Senior Living Arrangements

CoreLogic creates new app for real estate agents on the go

CoreLogic created a new app for real estate agents that allows them to access property information on the go. The search engine covers 99.9% of all U.S. property records. Here is more on the app, and the service it will provide real estate agents. http://www.housingwire.com/articles/39025-corelogic-creates-new-app-for-real-estate-agents-on-the-go ❤️ #share #mortgage

Xavier Becerra officially named California attorney general

Now that Kamala Harris is getting settled in her new role in the U.S. Senate, California officially announced Rep. Xavier Becerra as her replacement, approving him as the state’s new attorney general. Becerra comes to the position during a time of major political divide, and the state is looking to him to make sure California is ready for a fight. http://www.housingwire.com/articles/39024-xavier-becerra-officially-named-california-attorney-general ❤️ #share #mortgage

Existing home sales close 2016 as best year in a decade

Home sales slipped in December, but not enough to keep 2016 from being the best year in a decade for existing home sales. However, despite this slip in home sales, inventory continues to struggle. In fact, housing inventory just hit the lowest level in the history of NAR’s report. http://www.housingwire.com/articles/39022-existing-home-sales-close-2016-as-best-year-in-a-decade ❤️ #share #mortgage

Senate Banking Committee unanimously votes to approve Ben Carson as HUD Secretary

The Committee On Banking, Housing, and Urban Affairs unanimously voted to approve Ben Carson as Secretary of the U.S. Department of Housing and Urban Development on Tuesday morning. However, the nomination process is not yet over. Next stop: Senate floor. http://www.housingwire.com/articles/39023-senate-banking-committee-unanimously-votes-to-approve-ben-carson-as-hud-secretary ❤️ #share #mortgage

Fifth Third reports residential #mortgage loan increase of 10% in Q4

Fifth Third reported drastic decreases in its fourth quarter earnings today. Its net income dropped 40% from last year. However, despite the decreases, residential #mortgage loans still increased by 10% from the prior year. http://www.housingwire.com/articles/39021-fifth-third-reports-residential-mortgage-loan-increase-of-10-in-q4 ❤️ #share #mortgage

How Low Interest Rates Increase Your Purchasing Power

According to Freddie Mac’s latest Primary #mortgage Market Survey, interest rates for a 30-year fixed rate #mortgage are currently at 4.09%, which is still very low in comparison to recent history!

The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power.

Purchasing power, simply put, is the amount of home you can afford to buy for the budget you have available to spend. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain monthly housing budget.

The chart below shows what impact rising interest rates would have if you planned to purchase a home within the national median price range, and planned to keep your principal and interest payments at or about $1,100 a month.

With each quarter of a percent increase in interest rate, the value of the home you can afford decreases by 2.5%, (in this example, $6,250). Experts predict that #mortgage rates will be closer to 5% by this time next year.

Act now to get the most house for your hard-earned money. http://www.simplifyingthemarket.com/en/2017/01/24/how-low-interest-rates-increase-your-purchasing-power/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

Ben Carson facing Senate vote to become HUD Secretary

The Committee on Banking, Housing, and Urban Affairs is slated to meet Tuesday morning to vote on the nomination of Ben Carson as Secretary of the U.S. Department of Housing and Urban Development. Will he finally become HUD secretary after a controversial nomination? http://www.housingwire.com/articles/39020-ben-carson-facing-senate-vote-to-become-hud-secretary ❤️ #share #mortgage

Trump's Childhood Home Auctioned a Month After Sale

The real estate investor who bought Donald Trump’s childhood home in Queens last month has resold it in an auction.

The Tudor home in the Jamaica Estates neighborhood was built in 1940 by Trump’s father, a local real estate developer and landlord. It’s where the president spent his early childhood.

The 5-bedroom, 4.5-bath home measures 2,500 square feet and has a finished basement with a full bathroom. There’s also a bonus room for guests and a summer kitchen.

The home features a living room with a fireplace, a formal dining room and an enclosed back porch, along with the charm of arched doorways and hardwood floors.

It was first listed last summer for $1.65 million, but it took a couple price cuts before Paramount Realty USA planned an auction for the evening of one of Trump and Hillary Clinton’s debates. That auction was postponed. Then, real estate investor Michael Davis bought the home for $1.39 million.

Davis, in turn, auctioned the home last week. The winning bidder and bid amount will not be disclosed, according to Misha Haghani, a principal at Paramount Realty USA.

Photos courtesy of Paramount Realty USA.

Related:

• How Presidents Make the White House Their Own
• Check Out Ivanka Trump’s New D.C. Digs
• Meet Kalorama, Where Ivanka Trump, Jeff Bezos and the Obamas Will Be Neighbors

from Zillow Porchlight http://www.zillow.com/blog/trumps-childhood-home-auctioned-210679/

JPMorgan Chase officially reaches $53 million settlement for lending discrimination

Confirming reports that began to emerge last week, JPMorgan Chase officially reached a settlement with the Department of Justice over allegations that the bank’s brokers charged higher interest rates to minority borrowers than white borrowers in the run-up and during the financial crisis. Initial reports pegged the settlement amount at $55 million, but the actual settlement amount is slightly lower, checking in at $53 million. http://www.housingwire.com/articles/39019-jpmorgan-chase-officially-reaches-53-million-settlement-for-lending-discrimination ❤️ #share #mortgage

Wells Fargo accused of falsely overcharging #mortgage borrowers

With the wound from its massive account scandal last year still fresh, four former Wells Fargo employees in the Los Angeles region say the account scandal was not the only way the bank deceived borrowers. The other area the bank misled borrowers: Improperly charging borrowers to extend their promised interest rate when their #mortgage paperwork was delayed. http://www.housingwire.com/articles/39018-wells-fargo-accused-of-falsely-overcharging-mortgage-borrowers ❤️ #share #mortgage

Democratic state AGs join fight to save CFPB from Trump

The embattled Consumer Financial Protection Bureau, which top Congressional Democrats recently pledged to defend against potential attacks from the Trump administration, has more defenders in its corner now, as more than a dozen state attorneys general are joining the fight to protect the CFPB. http://www.housingwire.com/articles/39017-democratic-state-ags-join-fight-to-save-cfpb-from-trump ❤️ #share #mortgage

New American Funding names new divisional vice president

New American Funding brought on a new divisional vice president to lead its expansion efforts in the Southeast. With over 16 years of experience, Kelly Allison brings a team of 91 #mortgage professionals with her to her new role. http://www.housingwire.com/articles/39016-new-american-funding-names-new-divisional-vice-president ❤️ #share #mortgage

Societe Generale fined $50 million for pre-crisis RMBS fraud

In its last few days, the Obama administration announced multi-billion dollar settlements with two foreign banks, Deutsche Bank and Credit Suisse, for each bank’s #mortgage securitization practices leading up to the housing crisis. And on Friday, as most people focused on the inauguration of Donald Trump, the Obama administration announced one last settlement with a foreign bank for its pre-crisis activities – France’s Societe Generale. http://www.housingwire.com/articles/39015-societe-generale-fined-50-million-for-pre-crisis-rmbs-fraud ❤️ #share #mortgage

[Video] Trump wants to cut all regulation by 75%

President Donald Trump said he plans to cut regulations by 75% or more in a meeting with business leaders on Monday. While didn’t specially call out the housing market in his meeting, he’s already announced some plans for Dodd-Frank. http://www.housingwire.com/articles/39014-video-trump-wants-to-cut-all-regulation-by-75 ❤️ #share #mortgage

Death-row inmate facing final hours for murder of Texas real estate agent

About 10 years ago, convicted killer Kosoul Chanthakoummane brutally murdered a real estate agent in her model home. Now, after a decade on death row, his death is only days away. Though not as brutal as the 33 stab wounds he inflicted on the real estate agent, Chanthakoummane will face the end by lethal injection. http://www.housingwire.com/articles/39013-death-row-inmate-to-face-final-hours-after-murder-of-texas-real-estate-agent ❤️ #share #mortgage

CFPB fines CitiFinancial Servicing and Citi#mortgage $29 million

The Consumer Financial Protection Bureau hit CitiFinancial Servicing and Citi#mortgage with enforcement actions over how both companies handled borrower foreclosures. Since both banks violated the Real Estate Settlement Procedures Act, they must pay a total fine of $28.8 million. http://www.housingwire.com/articles/39012-cfpb-fines-citifinancial-servicing-and-citimortgage-29-million ❤️ #share #mortgage

2016 foreclosures dropped more than any year on record

Foreclosure rates dropped and even hit milestone lows in 2016. A new report from Black Knight shows that 2016 saw the greatest drop of any year on record. Even states with the highest percentage of foreclosures saw significant drops from last year. http://www.housingwire.com/articles/39011-foreclosures-dropped-more-than-any-year-on-record ❤️ #share #mortgage

Have You Saved Enough for Closing Costs?

There are many potential #homebuyers, and even sellers, who believe that they need at least a 20% down payment in order to buy a home or move on to their next home. Time after time, we have dispelled this myth by showing that many loan programs allow you to put down as little as 3% (or 0% with a VA loan).

If you have saved up your down payment and are ready to start your home search, one other piece of the puzzle is to make sure that you have saved enough for your closing costs.

Freddie Mac defines closing costs as:

“Closing costs, also called settlement fees, will need to be paid when you obtain a #mortgage. These are fees charged by people representing your purchase, including your #lender, real estate agent, and other third parties involved in the transaction. Closing costs are typically between 2 and 5% of your purchase price.”

We’ve recently heard from many first-time #homebuyers that they wished that someone had let them know that closing costs could be so high. If you think about it, with a low down payment program, your closing costs could equal the amount that you saved for your down payment.

Here is a list of just some of the fees/costs that may be included in your closing costs, depending on where the home you wish to purchase is located:

* Government recording costs
* Appraisal fees
* Credit report fees
* #lender origination fees
* Title services (insurance, search fees)
* Tax service fees
* Survey fees
* Attorney fees
* Underwriting fees

Is there any way to avoid paying closing costs?

Work with your #lender and real estate agent to see if there are any ways to decrease or defer your closing costs. There are no-closing #mortgages available, but they end up costing you more in the end with a higher interest rate, or by wrapping the closing costs into the total cost of the #mortgage (meaning you’ll end up paying interest on your closing costs).

Home buyers can also negotiate with the seller over who pays these fees. Sometimes the seller will agree to assume the buyer’s closing fees to get the deal finalized, which is known in the industry as ‘seller’s concession.’

Bottom Line

Speak with your #lender and agent early and often to determine how much you’ll be responsible for at closing. Finding out you’ll need to come up with thousands of dollars right before closing is not a surprise anyone is ever looking forward to. http://www.simplifyingthemarket.com/en/2017/01/23/have-you-saved-enough-for-closing-costs/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

Monday Morning Cup of Coffee: Trump shows he's serious about deregulation

Newly installed President Donald Trump gave some indication of his deregulation strategy Friday night, when he signed an executive order seeking to repeal the Affordable Care Act. An executive order doesn’t change the existing law, but does change the enforcement of the law, a course of action that could just as easily be applied to #mortgage legislation like Dodd-Frank. http://www.housingwire.com/blogs/1-rewired/post/39010-monday-morning-cup-of-coffee-trump-shows-hes-serious-about-deregulation ❤️ #share #mortgage

Borrowers: This is how the FHA #mortgage insurance premium suspension impacts you

As the industry adjusts to the Department of Housing and Urban Development’s decision to suspend the reduction of Federal Housing Administration #mortgage insurance premiums, consumers are left to face the impact now. Here’s what is means for borrowers. http://www.housingwire.com/articles/39008-borrowers-this-is-how-the-fha-mortgage-insurance-premium-suspension-impacts-you ❤️ #share #mortgage

Pioneer Bank names new president and CEO

After seven years with the company, Pioneer Bank’s board of directors named Ron Coben as its next CEO. Here’s more on Coben’s 30-year career, and what he brings to the company. http://www.housingwire.com/articles/39007-pioneer-bank-names-new-president-and-ceo ❤️ #share #mortgage

Nonbanks dominate FHA-backed #mortgages

Nonbank’s share of Federal Housing Administration-backed #mortgages crossed $1 trillion for the first time in November. The news, while positive for nonbanks, is causing some in the industry to question the consequences nonbanks face if the industry undergoes any future stress. http://www.housingwire.com/articles/39009-nonbanks-dominate-fha-backed-mortgages ❤️ #share #mortgage

Total value of homes sold in Northwest increases 18%+ in 2016

Home values increased in 2016, along with the number of homes sold throughout the year, leading to an increase of more than 18% in the total value of homes sold. The increase in sales, however, is not being replaced with new inventory as the housing shortage continues to grow. http://www.housingwire.com/articles/39006-total-value-of-homes-sold-in-northwest-increase-over-18-in-2016 ❤️ #share #mortgage

U.S. Bank promotes new chief marketing officer

After 30 years in the advertising and communications market, Beth McDonnell became U.S. Bank’s chief marketing officer. The bank explains why it promoted McDonnell, and why she will be a “remarkable” leader. http://www.housingwire.com/articles/39004-us-bank-promotes-new-chief-marketing-officer ❤️ #share #mortgage

Industry reacts: Is HUD’s FHA #mortgage insurance premium suspension good or bad?

The Department of Housing and Urban Development’s decision to suspend the reduction of Federal Housing Administration #mortgage insurance premiums didn’t come as a shocker. But while the industry knew the uncertainty surrounding the situation, they’re left divided on the issue. How much disruption will this delay cause? http://www.housingwire.com/articles/39005-industry-reacts-is-huds-fha-mortgage-insurance-premium-suspension-good-or-bad ❤️ #share #mortgage

Inauguration Anchor Scott Pelley Lists Colonial Mansion

When Scott Pelley isn’t reporting for “60 Minutes” or anchoring CBS News’ all-day coverage of the inauguration, he’s been kicking back in his classic colonial home in Darien, CT.

The basement is his “Darien Bureau,” the local newspaper reports. It’s where he composes and narrates tracks for stories on “60 Minutes.” A former White House correspondent, Pelley has long covered the country’s biggest news, from the attack on the World Trade Center to the front lines of climate change in Antarctica and the Arctic.

That basement can now inspire a new owner. Pelley has put his home on the market for $3.985 million.

The 5-bedroom, 7-bath home sits on more than two acres in the Connecticut countryside, with bucolic views from almost every room. And it’s rich with fireplaces.

You enter the home through a two-story foyer that boasts double grand staircases and offers access to gracious living room with a fireplace, a formal dining room and a gourmet kitchen. Alongside the kitchen is a breakfast nook surrounded by windows and a sitting room with its own fireplace.

A separate family room features built-ins, a third fireplace and Palladian windows with French doors that open onto the vast back yard with a pond and a picturesque footbridge. The fireplace in the cozy, wood-paneled library is perfectly situated for staying toasty while watching the snow fall.

Like any self-respecting colonial home, it’s filled with hardwood floors, columns and crown moldings. The spacious master suite includes walk-in closets the size of some bedrooms, a spa-like bathroom, a balcony and, of course, a fireplace.

The listing agent is Doug Milne of Houlihan Lawrence.

Related:

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• Aaron Burr’s Property Is on the Market, Sir

from Zillow Porchlight http://www.zillow.com/blog/scott-pelley-lists-colonial-mansion-210629/