Waterstone #mortgage unveils zero-down, 20-year, adjustable rate 'wealth building' loan

The “Wealth Building Loan” requires no down payment, and offers eligible borrowers a 7/1 adjustable rate #mortgage with a 20-year amortization. Waterstone said that the “Wealth Building Loan” also eliminates monthly #mortgage insurance payments nearly four years sooner than a 30-year conventional loan with a 3% down payment. http://www.housingwire.com/articles/36310-waterstone-mortgage-unveils-zero-down-20-year-adjustable-rate-wealth-building-loan ❤️ #share #mortgage

Homeowners: 4 tax deductions to maximize your IRS refund

It’s that time of year again. As tax season is well underway, don’t miss out on these four tax deductions that you could possibly be taking advantage of and put money back in your wallet. Or at least prevent you from owing money. Check to see if these apply to you. http://www.housingwire.com/blogs/1-rewired/post/36311-homeowners-4-tax-deductions-to-maximize-your-irs-refund ❤️ #share #mortgage

Community #lenders call for Fannie, Freddie to stop paying dividend to Treasury

With Fannie Mae and Freddie Mac preparing to report their fourth quarter and full-year financial results for 2015 later this week, several national groups of community #lenders are calling on the Federal Housing Finance Agency to suspend the practice of sending dividends from Fannie and Freddie to the Department of Treasury. http://www.housingwire.com/articles/36309-community-lenders-call-for-fannie-freddie-to-stop-paying-dividend-to-treasury ❤️ #share #mortgage

'Millennial leader' highlights impact of housing on 2016 election

Problem solved: Millennials are disenchanted, not disengaged. These resounding words from Morgan Smith, president of the nonpartisan Roosevelt Institute chapter at the University of Denver, are written to correct society’s preconceived notions about Millennials and get to the real issues important to young voters. Because without action, people will be priced out of their own hometown. http://www.housingwire.com/articles/36307-millennial-leader-highlights-impact-of-housing-on-2016-election ❤️ #share #mortgage

The TRID ripples: Time to close #mortgage loans continues to rise

In the months since the implementation of the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosures rule last October, evidence has shown what the impact of TRID has been. Now, a new report from Ellie Mae shows more statistical evidence on what kind of impact of TRID has caused, with the time to close a loan climbing again. http://www.housingwire.com/articles/36305-the-trid-ripples-time-to-close-mortgage-loans-continues-to-rise ❤️ #share #mortgage

Fed’s final push for HARP?

The Federal Housing Finance Agency’s Home Affordable Refinance Program is set to expire at the end of 2016. But before it does, the agency will try to reach as many people as possible that can still benefit. There are 367,600 people still eligible, and this new social media campaign should hopefully find them. http://www.housingwire.com/articles/36303-feds-final-push-for-harp ❤️ #share #mortgage

Dotloop announces partnership with Lone Wolf Real Estate Technologies

Dotloop, a Cincinnati-based company that boasts it can simplify real estate transactions by enabling brokerages, real estate agents, and their clients to share, edit, sign and store documents digitally, announced a partnership with Lone Wolf Real Estate Technologies, a provider of residential real estate solutions and services in North America. http://www.housingwire.com/articles/36304-dotloop-announces-partnership-with-lone-wolf-real-estate-technologies ❤️ #share #mortgage

Despite decline, industry still positive on housing starts

Although privately owned housing starts in January dropped 3.8% from December, the industry is still positive on the future of the housing market. According to one housing expert, most of January’s decline can likely be attributed to two main issues. http://www.housingwire.com/articles/36302-despite-decline-industry-still-positive-on-housing-starts ❤️ #share #mortgage

Homeownership Finally Makes Political Debate

Finally, the issue of homeownership has become a platform talking point in this year’s presidential debate. Yesterday, one of the candidates running for President spoke out about the importance of homeownership in America.

Hillary Clinton detailed a new economic agenda yesterday. In announcing her new agenda, she remarked:

“Homeownership is about more than just owning a home. It is about putting roots down in a community with better schools, safer streets and good jobs. And it is about building wealth, as homeowners build equity in their home one #mortgage payment at a time…We must make sure that everyone has a fair shot at homeownership.”

This post isn’t political!

It doesn’t matter that it was Clinton who said it first. It doesn’t matter that she is a Democrat.

What matters is that EVERY candidate for our country’s highest office realizes the important role homeownership plays in the development of our nation.

The fact that homeownership was finally brought to the forefront of the debate is great news – no matter which way you lean politically. http://www.simplifyingthemarket.com/2016/02/17/homeownership-finally-makes-political-debate/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

Fed's Kashkari: Time to end 'too big to fail'

The fundamental shifts in the country’s economic policy in the wake of the economic crisis were not enough to prevent another catastrophic meltdown and more needs to be done to ensure that a future economic downturn doesn’t turn into another crisis, Neel Kashkari, the newly minted President of the Federal Reserve Bank of Minneapolis, said Tuesday. http://www.housingwire.com/articles/36300-feds-kashkari-time-to-end-too-big-to-fail ❤️ #share #mortgage

National Low Income Housing Coalition names new president

The National Low Income Housing Coalition’s board of directors named a new president on Tuesday since its current CEO is retiring. Diane Yentel, an affordable housing policy expert and advocate, will replace current president and CEO Sheila Crowley in April. http://www.housingwire.com/articles/36298-national-low-income-housing-coalition-names-new-president ❤️ #share #mortgage

Your Guide to the 2016 Mortgage Refi Boom

From the time the Federal Reserve raised rates in December 2015 to mid-February 2016, mortgage rates dropped to their lowest level in three years. We examined why mortgage rates would drop after a Fed hike, and since the downward mortgage rate trend is continuing, here is a refinance reference guide.

2016 rate recap and outlook

Rates drop when economic uncertainty causes investors to sell riskier stocks and buy safer bonds. When bond prices rise on this buying, bond yields (or rates) drop.

This is what’s been happening in 2016 as non-U.S. economic weakness has caused global investors to buy the safety of U.S. Treasury and mortgage bonds.

In December 2015, 30-year fixed rates were about 4% on conforming loans, 4.125% on high-balance conforming loans, and 3.875% on jumbo loans. As bonds have rallied since then, rates on all these loan tiers are down as much as 0.5%, which translates into lower monthly payments as follows: $85 lower on a $300,000 mortgage, $170 lower on a $600,000 mortgage, and $253 lower on a $900,000 mortgage.

This savings alone is strong rationale for a refinance, and rates could drop even further in the next few months if non-U.S. weakness persists. But even in a downward rate trend, rates rise and fall along the way.

Factors driving a 2016 refi boom

Refinances aren’t just about rates. They’re also about income, asset, and property eligibility.

During previous post-crisis rate dips, many refinances were derailed because people owed more than their homes were worth, their income was down or disrupted, and lender guidelines were abnormally tight.

Now the U.S. economy is more supportive of refinances, with stable or increasing home prices, low unemployment of 4.9 percent, income trending up, low inflation helped by a steep drop in oil prices, and lender guidelines more flexible now than any other post-crisis rate dip.

Reasons to refinance

The most obvious reason to refinance is for a lower rate and monthly payment, but there are a few other refinance objectives to consider:

• Shorten your loan payoff period. For example, you could go from a 30-year loan to a 15-year loan, which has lower rates and higher payments because you pay it off in half the time - but when rates dip, payments on 15-year loans become more feasible.
• Access cash. A “cash out” refinance allows you to access your home’s equity for other financial objectives, such as retirement investing or funding home improvements.
• Consolidate debt. If you qualify, you can roll non-housing debt like student loans, credit cards, and car loans into a home refinance. This helps improve your credit score, and also converts that non-tax-deductible debt into tax-deductible debt.
• Eliminate mortgage insurance or a second mortgage. If you bought your home with less than 20 percent down using mortgage insurance or a second mortgage, and your home’s value has increased to the point that you now have 20 percent equity, a refinance can eliminate mortgage insurance or a second mortgage.

Credit score impacts of rate shopping

Credit scoring models know people shop for mortgages, so more than one mortgage-related credit run won’t reduce your score if you finish shopping within 14 days.

Choose a lender early

A rate quote is based on a refinance closing within a certain number of days - typically 30-60 days - and longer rate locks have higher rates. So choose the lender you want to work with early, and get them all of your required documentation so they can perform on the shortest (and therefore cheapest) possible rate lock timeline.

Required documentation

Even if you refinance with a lender you’ve worked with before, federal laws require them to update your employment, income, asset, and debt documentation for a new loan.

Your home must qualify

In addition to you qualifying for the loan, your home must qualify, too. An appraisal report must prove your home is worth enough to make the refinance work, and lenders can require certain repairs prior to loan closing - like water-related damage or safety issues such as loose railings.

If you’re a condo owner, the condo building will be subject to a list of requirements. Ask your lender to brief you on condo requirements in advance of locking your refinance.

Handling your second mortgage

If you have a second mortgage you intend to leave in place, the second mortgage holder must agree to the terms of the refinance before the refinance closes. This is required even if you have a Home Equity Line of Credit (HELOC) with a zero balance. This can add time to the process, and, again, longer rate locks have higher rates.

Cost or no-cost refinance?

Refinance viability is all about how it takes monthly savings from a refinance to repay refinance closing costs ($2,000 to $4,000, depending on your market). But if you paid to refinance, then rates dropped more, you’d risk losing money.

So when rates are declining, you can choose to do a no-cost refinance. The rate will be slightly higher on a no-cost refinance, but then you’re not wasting closing costs if you refinanced again soon after because rates dropped.

Your lender can help determine the best path based on your profile and rate market expectations.

When to lock your rate

Before locking a refinance, find a lender to pre-approve you using your full documentation and home value estimate so you can be sure you’re being locked on a program and timeline the lender can perform on. And if your refinance pre-approval is ready to go, it’s easier to lock rate lows on a moment’s notice as rates bounce up and down on each trading day.

What to do if rates drop after you’ve locked your rate

Rates change daily, and if rates drop after you commit to your rate lock, lenders have renegotiation policies that enable you to capture part of that drop.

For example, if rates dropped .25 percent after your rate lock commitment, typical lender renegotiation policies would allow you to drop your locked rate by .125 percent.

Related:

• Is Refinancing Right for You?
• 4 Simple Strategies to Shave Years Off Your Mortgage
• Can Shopping Around for a Mortgage Keep You from Getting One?

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/2016-mortgage-refi-boom-192520/

Quicken Loans preps to face U.S. over FHA loan violations

Quicken Loans is revving up to face the Department of Justice after a federal judge tossed Quicken’s lawsuit against the DOJ and the Department of Housing and Urban Development in January. As Quicken Loans prepares for the exceptionally rare case of a #lender stepping up to face the U.S. government, it’s going to have to overcome a few obstacles, starting with where the trial will take place. http://www.housingwire.com/articles/36299-quicken-loans-preps-to-face-us-over-fha-loan-violations ❤️ #share #mortgage

Moving to San Francisco? Here's what you need to know

If San Francisco isn’t the number one hottest housing market for any given month, you don’t have to travel too far down the list to find its name. If you are one of the people considering moving to the nation’s hottest market, here are some things you need to know. Being in the hottest housing market can come at a price. http://www.housingwire.com/blogs/1-rewired/post/36297-moving-to-san-francisco-heres-what-you-need-to-know ❤️ #share #mortgage

Hillary Clinton unveils sweeping economic agenda, including major housing reforms

With the 2016 presidential election inching closer at a seemingly glacial pace, one issue that many of the main candidates have neglected to address is housing and its impact on the country’s economy. But it appears that is about to change as Hillary Clinton, the Democratic hopeful and former Secretary of State, recently announced a sweeping economic agenda that includes some major housing reforms. http://www.housingwire.com/articles/36295-hillary-clinton-unveils-sweeping-economic-agenda-including-major-housing-reforms ❤️ #share #mortgage

Appraisal volume rises 3 weeks straight

Appraisal volume moved higher for the third consecutive week, increasing 4.2% for the week of Feb. 7. The steady rise can be attributed to soft interest rates and the stable employment market. http://www.housingwire.com/articles/36294-appraisal-volume-rises-three-weeks-straight ❤️ #share #mortgage

S&P/Experian: #mortgage default rates steady in January

Data released by global resource Standard & Poor’s and information services company Experian, indicates that while the bankcard default rate increased in January, the first #mortgage default rates remained unchanged. http://www.housingwire.com/articles/36293-spexperian-mortgage-default-rates-steady-in-january ❤️ #share #mortgage

Homebuilder confidence wanes despite positive economic trends

While the market is ripe for growth, homebuilder confidence has yet to benefit from this, coming in below expectations in February. The drop this month can partly be attributed to these two main things. http://www.housingwire.com/articles/36292-homebuilder-confidence-wanes-despite-positive-economic-trends ❤️ #share #mortgage

Play Chess… Not Checkers

Checkers is a simple game with a simple objective; eliminate the other player’s pieces. Even the process of doing so is simple, jump the other player’s pieces and start a collection. There is very little thought as to a defensive strategy and it is often more reactive than strategic.

Even though the objective of Chess is simply laid out — obtain the other player’s King — the process in which to obtain this goal is much more strategic. Chess requires a greater understanding of the ability of each of the 9 different pieces on the board and a risk assessment that takes longer than a simple scan of the board.

“It’s a game in which the winning strategy is dynamic and requires complex thought across many turns, both for the player and their opponent’s turns.  Chess requires a player to understand the context behind the moves on the board rather than just the risks offered by each individual turn.” – Play Chess Not Checkers by Zach West

You may have heard the saying, “Play Chess, Not Checkers” before, but how does this apply to real estate?

Plan past your next move

So you want to sell your house. You can just put a sign in your front yard and call it a day, right? Wrong! The process of listing your home for sale and what happens next is much more complex than that.

According to the Orlando Regional REALTOR Association, there are over 230 possible actions that need to take place during every successful real estate transaction. Don’t you want someone who has been there before, and who knows what these actions are to make sure that you acquire your dream?

One example, as we’ve reported before, is the fact that 92% of buyers search online for a home. That is in comparison to only 28% looking at print newspaper ads. Most real estate agents have an extensive internet strategy to promote the sale of your home. Do you?

Identify Risks & Defend Against Them

An experienced real estate professional knows the obstacles associated with buying or selling a home and works closely with other professionals to ensure the process is a smooth one.

Practice Makes Perfect

Just like with any skill, practice and experience bring a sense of confidence and expertise. Before you decide to take on the challenges of selling your house on your own, sit with a real estate professional in your marketplace and see what they have to offer.

Bottom Line

With an experienced Real Estate Professional on your side, even the complex process of buying your next home or selling your house can be strategically navigated. http://www.simplifyingthemarket.com/2016/02/16/play-chess-not-checkers/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

Fannie Mae offloads more credit risk in latest risk-sharing deal

As part of its ongoing effort to reduce taxpayer burden, Fannie Mae announced last week that it offloaded more credit risk in its latest Connecticut Avenue Securities risk-sharing deal. According to Fannie Mae, its latest Connecticut Avenue Securities deal, CAS 2016-C01, is its first to offer investors a portion of the first-loss position, further reducing taxpayer exposure to credit losses. http://www.housingwire.com/articles/36290-fannie-mae-offloads-more-credit-risk-in-latest-risk-sharing-deal ❤️ #share #mortgage

U.S. Bank promotes Mark Jorgenson to head of community banking

U.S. Bank recently announced the promotion of Mark Jorgenson to the role of head of U.S. Bank Community Banking. In this role, Jorgenson will lead the bank’s 1,140 branch offices and 10,000 employees located in non-metropolitan communities throughout U.S. Bank’s 25-state footprint. http://www.housingwire.com/articles/36291-us-bank-promotes-mark-jorgenson-to-head-of-community-banking ❤️ #share #mortgage

ShowingTime acquires RealEstate Business Intelligence

ShowingTime, a management technology provider, announced today that it acquired RealEstate Business Intelligence, a source of real estate data, analytics and business intelligence for real estate professionals, as part of an effort to deepen its analytics group offering. http://www.housingwire.com/articles/36289-showingtime-acquires-realestate-business-intelligence ❤️ #share #mortgage

Buying a home not always the best option?

Contrary to popular opinion, one economist believes that renting a home could be better than buying, arguing that housing is overrated as a financial investment. Instead, there are better places for Millennials to put their money. http://www.housingwire.com/articles/36288-buying-a-home-not-always-the-best-option ❤️ #share #mortgage

Staying long-term in NYC? Buying a home beats renting

While it takes eight years to become a true New Yorker, it takes considerably less time for homeownership to make sense in New York City. Despite rising costs, buying still beats renting as long as you’re willing to live in the Big Apple for five years. http://www.housingwire.com/articles/36287-staying-long-term-in-nyc-buying-a-home-beats-renting ❤️ #share #mortgage

SoFi's Super Bowl ad only the beginning of major company brand push

While moving into the big leagues of advertising cost SoFi 20% of its annual budget, the company is saying that its Super Bowl ad was well worth the money. In an interview with HousingWire, Meg Ciarallo, SoFi’s vice president of brand, said “2016 is a pivotal year for SoFi. We’re expanding beyond lending to help financially responsible people reach their money, career and relationship goals.” http://www.housingwire.com/articles/36285-sofis-super-bowl-ad-only-the-beginning-of-major-company-brand-push ❤️ #share #mortgage

New York launches undercover program to expose discrimination in real estate

The state of New York is set to launch a new program that will use undercover “testers” posing as prospective #homebuyers or renters to “root out” housing discrimination in the state, New York Governor Andrew Cuomo announced. http://www.housingwire.com/articles/36284-new-york-launches-undercover-program-to-expose-discrimination-in-real-estate ❤️ #share #mortgage

Keller Williams partners with Placester to develop more tools for agents

Real estate franchise Keller Williams announced that it is entering into an “innovation partnership” with Placester, a real estate website and marketing platform, to co-develop the next version of its agent business solution, eEdge. http://www.housingwire.com/articles/36282-keller-williams-partners-with-placester-to-develop-more-tools-for-agents ❤️ #share #mortgage

Nevada foreclosure crisis hurting Clinton, Sanders' efforts to get votes

With the Nevada Presidential caucuses looming, the two major candidates for the Democratic nomination are struggling to contact potential voters thanks to voter lists that are out of date and insufficient due to the deep impact of the foreclosure crisis in the state. http://www.housingwire.com/articles/36286-nevada-foreclosure-crisis-hurting-clinton-sanders-efforts-to-get-votes ❤️ #share #mortgage

Here's why states should choose to not regulate appraisal management companies

Across the country, state legislatures and appraisal licensing boards are grappling with the decision of whether or not to regulate Appraisal Management Companies. But is an AMC regulatory program truly in the interest of public trust or does it exacerbate the problem? http://www.housingwire.com/blogs/1-rewired/post/36283-heres-why-states-should-choose-to-not-regulate-appraisal-management-companies ❤️ #share #mortgage

Homeowner’s Net Worth is 45x Greater Than a Renter’s

Every three years the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400).

In a Forbes article the National Association of Realtors’ (NAR) Chief Economist Lawrence Yun predicts that in 2016 the net worth gap will widen even further to 45 times greater.

The graph below demonstrates the results of the last two Federal Reserve studies and Yun’s prediction:

Put Your Housing Cost to Work For You

Simply put, homeownership is a form of ‘forced savings’. Every time you pay your #mortgage you are contributing to your net worth. Every time you pay your rent, you are contributing to your landlord’s net worth.

The latest National Housing Pulse Survey from NAR reveals that 85% of consumers believe that purchasing a home is a good financial decision. Yun comments:

“Though there will always be discussion about whether to buy or rent, or whether the stock market offers a bigger return than real estate, the reality is that homeowners steadily build wealth. The simplest math shouldn’t be overlooked.”

Bottom Line

If you are interested in finding out if you could put your housing cost to work for you by purchasing a home, let’s schedule an appointment to guide you through the process. http://www.simplifyingthemarket.com/2016/02/15/homeowners-net-worth-is-45x-greater-than-a-renters/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

Monday Morning Cup of Coffee: Zillow CEO said what about Move/News Corp?

The shots between Zillow and Move, which is now owned by News Corp, continue following recent news that came out in Zillow Group’s earning on the how much this is financially hurting the company. This time, did Zillow CEO Spencer Rascoff take a direct stab at News Corp? Happy President’s Day! http://www.housingwire.com/blogs/1-rewired/post/36281-monday-morning-cup-of-coffee-zillow-ceo-said-what-about-movenews-corp ❤️ #share #mortgage

Household debt increases in fourth quarter

Household debt increased by $51 billion in the last quarter of 2015. And while non-housing debt balances is rising, the same cannot be said for #mortgages which are being paid off a little faster. http://www.housingwire.com/articles/36280-household-debt-increases-in-fourth-quarter ❤️ #share #mortgage

Police arrest fugitive Southlake title company owner

Police arrested Millennium Title owner Nancy Jackson Carroll Thursday in Illinois after being accused of leaving town with stolen money. Carroll was a fugitive from the law after vanishing nearly two weeks ago. http://www.housingwire.com/articles/36279-police-seize-southlake-title-company-owner ❤️ #share #mortgage

4 reasons the Rocket #mortgage actually decreases #mortgage risk

While many frowned after seeing Quicken Loans $5 million Rocket #mortgage commercial, housing and #mortgage expert Laurie Goodman says the ad simply markets a new technology that allows consumers to originate #mortgages more efficiently. Here are 4 reasons why. http://www.housingwire.com/articles/36277-reasons-the-rocket-mortgage-actually-decreases-mortgage-risk ❤️ #share #mortgage

Alight #mortgage Lending application picked up by two #mortgage companies

Guardian #mortgage CFO Paul Walker said: “Alight #mortgage Lending will provide us with real-time data and analysis of our financials and better insight into warehousing covenants to help us grow our business moving forward.” http://www.housingwire.com/articles/36278-alight-mortgage-lending-software-picked-up-by-two-mortgage-companies ❤️ #share #mortgage

Ellie Mae earnings highlight big bank exit from #mortgage business

Ellie Mae’s latest earning results further confirmed the growing dominance of large and mid-sized #lenders in the #mortgage industry. As mega #lenders pull away from originations, the rest of the industry is quickly responding to fill the gap. http://www.housingwire.com/articles/36276-ellie-mae-earnings-highlight-big-bank-exit-from-mortgage-business ❤️ #share #mortgage

BofA mining clients for #mortgage opportunities

Existing Bank of America customers could help the bank bring in more lending business, especially if you don’t have a #mortgage with them, yet. http://www.housingwire.com/articles/36274-bank-of-america-surprises-existing-customers ❤️ #share #mortgage

$2.8B Fannie, Freddie, Ginnie Mae bulk MSR portfolio hits market

Another batch of #mortgage rights hit the market, with a $2.8 billion Fannie Mae, Freddie Mac and Ginnie Mae bulk MSR now for sale. Key features of the portfolio include a weighted average original credit score of 733 and a weighted average original loan-to-value ratio of 70%. http://www.housingwire.com/articles/36275-28b-fannie-freddie-ginnie-mae-bulk-msr-portfolio-hits-market ❤️ #share #mortgage

Tiny "Harry Potter-looking" homes under construction in North Texas

Dallas custom builder Rudy Rivas normally builds 2,700 square feet homes, even larger worth almost at $1 million. But now he has a new project starting off at around $40,000, that’s less than a year at Hogwarts! http://www.housingwire.com/articles/36273-tiny-homes-built-in-dallas ❤️ #share #mortgage

How Do You Know If You’ve Found Your ‘Perfect Match’? [INFOGRAPHIC]

Some Highlights:

* Every agent brings a different set of skills & specialties to their clients.
* It is important to find an agent who you can trust to guide you through the entire process step-by-step.
* Having a conversation about your goals & expectations will not only save you unneeded frustration, but will also make the transaction as smooth as possible. http://www.simplifyingthemarket.com/2016/02/12/how-do-you-know-if-youve-found-your-perfect-match-infographic/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

Get used to the FHA #mortgage insurance life-of-the-loan premium

Despite recent calls to eliminate it, the Federal Housing Administration said it is not considering any changes to the #mortgage insurance life-of-the-loan policy. However, the explicit rejection of a life-of-loan pricing policy change is a positive for the private #mortgage insurance industry since the ability to cancel #mortgage insurance has a direct impact on borrow decision-making. http://www.housingwire.com/articles/36272-get-used-to-the-fha-mortgage-insurance-life-of-the-loan-premium ❤️ #share #mortgage

Ellie Mae earnings once again beat expectations

Ellie May not only surpassed 2014’s fourth-quarter earnings, but also their own expectations for the fourth quarter of 2015. The revenue increase was driven by the continued ramp of Encompass users. http://www.housingwire.com/articles/36270-ellie-mae-earnings-once-again-beat-expectations ❤️ #share #mortgage

Move/News Corp legal battle drags down Zillow Group earnings in 2015

The Zillow Group family of websites, which includes Zillow and Trulia, announced its 2015 financial results on Thursday, with the company reporting a pro forma net loss of $91.1 million in 2015. According to Zillow, a large portion of the net loss was driven by the legal fees associated with Zillow’s legal battle with Move, which is now owned by News Corp, over claims of allegations of trade secret theft involving Errol Samuelson, who was once Move’s chief strategy officer. Click the headline to read more. http://www.housingwire.com/articles/36271-movenews-corp-legal-battle-drags-down-zillow-group-earnings-in-2015 ❤️ #share #mortgage

Financial purge: Big bank stocks plunge

The DOW is not looking good at all as financial names take a big hit Thursday. Reeling off a 400-point loss, oil prices dropped below $27 a barrel for the second time in recent weeks. It settled at $26.21, the lowest point since 2003. http://www.housingwire.com/articles/36269-big-bank-stocks-plunge ❤️ #share #mortgage

KB Home to pay at least $23.5M in settlement with Florida over building violations

After a three-year investigation of KB Home for violations of the Florida Deceptive and Unfair Trade Practices Act, KB Home and its Florida subsidiaries reached a multi-million dollar settlement with the Florida Attorney General’s Office. Click the headline to read more. http://www.housingwire.com/articles/36268-kb-home-to-pay-at-least-235m-in-settlement-with-florida-over-building-violations ❤️ #share #mortgage

Realtors: Florida housing set to get 2016 boost

The Florida housing market for 2015 increased by 12.4% from 2014 in single-family home sales. Year-over-year growth in 2015’s final quarter was more subdued, signaling a possible return in 2016 to more stable rates of sales growth. http://www.housingwire.com/articles/36267-realtors-florida-housing-set-to-get-2016-boost ❤️ #share #mortgage

MBA: New home purchases soared in January

Even though new home purchases dropped 6% in December, for the month of January the #mortgage Bankers Association’s Builder Application Survey shows #mortgage applications for new home purchases, increased by 14%. http://www.housingwire.com/articles/36265-new-home-purchases-soared-in-january ❤️ #share #mortgage

House of the Week: A Medieval Castle in Small-Town Oregon

It’s a safe bet that this home in the small coastal town of Newport, OR is the only one — here, or anywhere — with an armorial flag behind which the 10th Earl of Shannon marched for 32 years in processions.

The late earl himself lived at this address with his wife, now the Dowager Countess of Shannon. She has listed the home for $399,000.

Unassuming from the outside, the 3-bedroom, 3-bath home resembles a medieval castle on the inside, where two small foyers are wallpapered with moire silk. In the kitchen, you expect to see a king tipping back a pint of mead alongside his Venetian glassware and copper pot collection.

A great room worthy of Valhalla boasts an ornate beamed ceiling, from which hangs an imperious chandelier and below which sits a grand piano, a four-foot oriental vase and stained-glass windows, some dating to the 1700s.

“She had the house before she married him,” listing agent Bonnie Saxton of Advantage Real Estate said of the countess. “It’s just incredible … There’s a door in the kitchen from 1904 that a preacher traded for a car with Henry Ford.”

The regal decor continues in the master suite, where French cathedral windows are set into birch paneling and the ceiling features a mural of Jesus Christ’s transfiguration on the mount.

The ensuite bathroom is fit for a king — or a Monty Python sketch — with 1800s stained-glass windows alongside a large hot tub with gold-seeming fittings.

Related:

• 10 of the Most Popular Homes Ever on Zillow
• Top Celebrity Home Buyers & Sellers of the Past Decade
• The Family Treehouse: A Place to Come Together and Just Be

from Zillow Porchlight | Real Estate News, Advice and Inspiration http://www.zillow.com/blog/medieval-castle-in-oregon-192071/

Here's why the Fed chair keeps getting drilled on negative interest rates

Despite so much talk about rising interest rates, a whole new idea is making its way around Washington D.C. that would reverse the projected course of the Federal Reserve. So what would a negative interest rate policy look like? America wouldn’t be the first county to venture in. http://www.housingwire.com/articles/36263-heres-why-the-fed-chair-keeps-getting-drilled-on-negative-interest-rates ❤️ #share #mortgage

These are the top 5 most vacant cities in the U.S.

The housing market continues to recover from the recent financial crisis. For the month of February, a recent RealtyTrac report shows that vacancy and “zombie foreclosures” are down 4% from a year ago nationwide, but continue to increase in a minority of markets, mostly those with a protracted foreclosure process or high numbers of blighted properties. http://www.housingwire.com/articles/36264-these-are-the-top-5-most-vacant-cities-in-the-us ❤️ #share #mortgage

Redwood Trust shifts away from Fannie, Freddie conforming loans

Seeking to rid itself of two business segments that are dragging on the REIT’s bottom line, Redwood Trust announced recently that it will be discontinuing the acquisition and aggregation of conforming loans for sale to Fannie Mae and Freddie Mac, and will also discontinue commercial loan originations for distribution in commercial #mortgage-backed securities. http://www.housingwire.com/articles/36262-redwood-trust-shifts-away-from-fannie-freddie-conforming-loans ❤️ #share #mortgage

Morgan Stanley settles for $3.2 billion over 'deceptive' #mortgage bond practices

Morgan Stanley will hand out hundreds of millions of dollars in consumer relief and fork over hundreds of millions more to state governments as part of $3.2 billion settlement over its “deceptive” #mortgage bond practices in the run-up to the financial crisis, the New York Attorney General’s Office said Thursday. Click the headline to read more. http://www.housingwire.com/articles/36261-morgan-stanley-settles-for-32-billion-over-deceptive-mortgage-bond-practices ❤️ #share #mortgage

Freddie Mac: #mortgage rates drop six weeks straight

The downward trend in #mortgage rates continued for the sixth consecutive week amid ongoing market volatility. As a result, the average 30-year fixed is now hovering just above its 2015 low of 3.59%. http://www.housingwire.com/articles/36260-freddie-mac-mortgage-rates-drop-six-weeks-straight ❤️ #share #mortgage

5 Romantic Honeymoon Destinations in India -

5 Romantic Honeymoon Destinations in India -:

maavalan:

These are the best places to visit for your post-wedding period. Honeymoon in India is an excellent choice as this beautiful country has a lot to offer to everyone and you cannot just get over the beauty of the beautiful destinations which find their home in India.

Final 2015 Housing Numbers Now In

Many have questioned the stability of certain sectors of the U.S. Economy, one section in particular is the housing market. Today we would like to share how the experts feel about how we ended 2015 and where they think we are headed in 2016.

How did we do in 2015?

The National Association of Realtors

“Overall, a resilient U.S. economy and very solid job growth in recent years made 2015 a great rebound year for the housing market.

Existing-home sales were at the highest pace (5.26 million) since 2006 (6.48 million) and the Pending Home Sales Index came in at an average of 108.8, the highest annual reading since…you guessed it: 2006 (111.7).”

The National Association of Home Builders

“With the December report on housing starts and permits, preliminary totals for 2015 are now available. Total housing starts at 1.11 million were up 10.8% in 2015 compared to 2014. Single-family starts were up 10.4% to 715,300. All four census regions also experienced increases in single-family starts for 2015.”

What can we expect to start 2016?

Jonathan Smoke, Realtor.com Chief Economist

“All indicators point to this spring being the busiest since 2006…

Demand for for-sale housing will grow and will continue to be dominated by older millennials, aged 25 to 34. This demographic has the potential to claim a third of home sales in 2016 and represent 2 million home purchases.” http://www.simplifyingthemarket.com/2016/02/11/final-2015-housing-numbers-now-in/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

Survey: 45% of non-homeowners say finances keep them from buying

Nearly half of all non-homeowners say that their financial situation is preventing them from buying a home, a new report from Bankrate.com showed. According to Bankrate’s survey, nearly 30% of all non-homeowners say that they can’t afford a down payment, despite only needing to save 3%. http://www.housingwire.com/articles/36259-survey-45-of-non-homeowners-say-finances-are-keeping-them-from-buying ❤️ #share #mortgage

Manager of 'predatory' loan modification law firm sent to jail

A San Diego businessman will spend the next nine months in prison after being convicted for his role in a fraudulent #mortgage loan modification business that presented itself as a “law firm” in order to con more than 1,000 struggling homeowners out of more than $3 million total. http://www.housingwire.com/articles/36257-manager-of-predatory-loan-modification-law-firm-sent-to-jail ❤️ #share #mortgage

Mason-McDuffie #mortgage helps San Francisco nuns threatened with eviction

Mason-McDuffie #mortgage Corporation set up a GoFundMe account to help two San Francisco Bay Area nuns that are being threatened with eviction from the residence they use to feed the homeless due to a rent increase. At the time of publication, the account already raised $6,505 of its $24,000 goal. http://www.housingwire.com/articles/36258-mason-mcduffie-mortgage-helps-san-francisco-nuns-threatened-with-eviction ❤️ #share #mortgage

Interactive #mortgage Advisors purchased by Blackstone portfolio company

Incenter will acquire assets of a #mortgage company in order to offer a broader array of services to their clients. IMA’s main focus will continue to be as a #mortgage servicing rights brokerage and asset valuation firm. http://www.housingwire.com/articles/36256-mortgage-company-to-offer-a-broader-array-of-services ❤️ #share #mortgage

Despite falling oil prices, Houston's housing market keeps rising

Strains in the energy industry did not hinder the housing market as January 2016’s sales were 2% off the January record. http://www.housingwire.com/articles/36255-houstons-housing-market-rises ❤️ #share #mortgage

Impac #mortgage Corp promotes Greg Austin to EVP, national sales director

Impac #mortgage Corp, a publicly traded company announced recently it promoted Greg Austin to the position of executive vice president, national sales director. Prior to joining Impac, Austin has substantial experience in wholesale sales experience with Lehman Brothers and Credit Suisse. http://www.housingwire.com/articles/36253-impac-mortgage-corp-promotes-greg-austin-to-evp-national-sales-director ❤️ #share #mortgage

Can the Fed reverse interest rate hikes, impose negative rates?

The hot topic for questioning during Federal Reserve Chair Janet Yellen’s hearing before the House Financial Services Committee Wednesday morning centered around the feasibility of negative Fed rates. The Fed announced in December that it was officially raising the federal funds rate for the first time since June 2006. Is this all about to change? http://www.housingwire.com/articles/36254-can-the-fed-reverse-interest-rate-hikes-impose-negative-rates ❤️ #share #mortgage

Goldman Sachs subsidiary buys massive NPL portfolio from Fannie Mae

Fannie Mae announced Wednesday that it selected the winning bidders in its latest sale of non-performing loans, with a subsidiary of one of Wall Street’s biggest names among the winning bidders: Goldman Sachs. http://www.housingwire.com/articles/36252-goldman-sachs-subsidiary-buys-massive-npl-portfolio-from-fannie-mae ❤️ #share #mortgage

Ernst Publishing adds Mike Fletcher for ‘key’ position

Ernst Publishing Company, a technology provider and closing cost data for the real estate and home finance industries announced recently Mike Fletcher joined the company as its director of strategic accounts. http://www.housingwire.com/articles/36249-ernst-publishing-adds-mike-fletcher-for-key-position ❤️ #share #mortgage

Media mogul Oprah Winfrey buys $29M horse farm

Oprah Winfrey bid and won a sprawling equestrian estate on the California coast. Conducted by Alan Armstrong from Sage Auctions, Oprah is now owner of Seamair Farms. http://www.housingwire.com/articles/36251-media-mogul-oprah-winfrey-buys-29m-horse-farm ❤️ #share #mortgage

NAR: Inventory shortages push homeownership further out of reach

A lack of housing inventory continues to stifle the housing market, making it difficult for potential homeowners to get on the property ladder. And according to the latest quarterly report from the National Association of Realtors, the problem is not going to subside anytime soon, impacting more than first-time #homebuyers. http://www.housingwire.com/articles/36250-nar-inventory-shortages-push-homeownership-further-out-of-reach ❤️ #share #mortgage

Wells Fargo downsizing 581 more #mortgage jobs

Due to low delinquencies and foreclosures, Wells Fargo said it will let go of 581 employees in its #mortgage operations. It’s just the latest in a string of job cuts at the bank’s #mortgage operations. http://www.housingwire.com/articles/36248-wells-fargo-downsizing-581-more-mortgage-jobs ❤️ #share #mortgage

dailyvapingnews: (via Kanger KBOX 40w – $10.99 – US Vendor |...

dailyvapingnews:

(via Kanger KBOX 40w – $10.99 – US Vendor | Black only)

Just found this deal for those long lasting little single 18650 boxes kanger made a while back. It’s the black version and they bought about 250 of them so they shouldn’t sell out before the nights up but you might want to grab one as soon as you can because they haven’t put a limit on them and shops are sure to buy a bunch of them. These are perfect for new vapers, smokers you want to help convert, and make one heck of a back up box. People who find themselves vaping under 40 watts should own a couple of these. I know I would. I’ve given 3 of these away to smokers and 2 out of 3 re still vaping to this day. They work great. Only $10.99 with our code, and yes.. it’s from a US vendor.

CLICK TO VIEW THE KANGER KBOX 40W FOR $10.99 DEAL

MBA: #mortgage refinance applications spike thanks to low interest rates

Due in large part to #mortgage interest rates falling for the fifth consecutive week, #mortgage refinance applications spiked in the week that ended Feb. 5, 2016, a new report from the #mortgage Bankers Association showed. http://www.housingwire.com/articles/36247-mba-mortgage-refinance-applications-spike-thanks-to-low-interest-rates ❤️ #share #mortgage

Do You Know How Much Equity You Have In Your Home? You May Be Surprised!

CoreLogic’s latest Equity Report revealed that 256,000 properties regained equity in the third quarter of 2015. This is great news for the country, as 92% of all #mortgaged properties are now in a positive equity situation.

Price Appreciation = Good News For Homeowners

Frank Nothaft, CoreLogic’s Chief Economist, explains:

“Home price growth continued to lift borrower equity positions and increase the number of borrowers with sufficient equity to participate in the #mortgage market. In the last three years, borrowers with at least 20 percent equity have increased by 11 million, a substantial uptick that is driving rapid growth in home equity originations.” 

Anand Nallathambi, President and CEO of CoreLogic, believes this is a great sign for the market in 2016 as well, as he had this to say:

“Homeowner equity is the largest source of wealth for many Americans. The rise in home prices, expected to be at least 5% in 2016, will continue to build wealth and confidence across America. As this process continues, it will provide support for the housing market and the broader economy throughout [the] year.”

This is great news for homeowners! But, do they realize that their equity position has changed?

A study by Fannie Mae suggests that many homeowners are not aware that they have regained equity in their home as their investment has increased in value. For example, their study showed that 23% of Americans still believe their home is in a negative equity position when, in actuality, CoreLogic’s report shows that only 8% of homes are in that position (down from 9% in Q2).

The study also revealed that only 37% of Americans believe that they have “significant equity” (greater than 20%), when in actuality, 74% do!

This means that 37% of Americans with a #mortgage fail to realize the opportune situation they are in. With a sizeable equity position, many homeowners could easily move into a housing situation that better meets their current needs (moving to a larger home or downsizing).

Fannie Mae spoke out on this issue in their report:

“Homeowners who underestimate their homes’ values not only underestimate their home equity, they also likely underestimate 1) how large a down payment they could make with their home equity, 2) their chances of qualifying for #mortgages, and, therefore, 3) their opportunities for selling their current homes and for buying different homes.”

Bottom Line

If you are one of the many Americans who are unsure how much equity you have built in your home, don’t let that be the reason you fail to move on to your dream home in 2016! Let’s get together to evaluate your situation!

  http://www.simplifyingthemarket.com/2016/02/10/do-you-know-how-much-equity-you-have-in-your-home-you-may-be-surprised/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

CFPB corrects error in TRID rule

It’s been four months since the implementation of the CFPB’s TILA-RESPA Integrated Disclosures rule in October shook up the housing industry, and many in the industry are still getting used to the new normal. But, starting Wednesday, there’s a small portion of the TRID rule that will be changing, thanks to a “typographical error” in the supplementary information provided by the CFPB. http://www.housingwire.com/articles/36245-cfpb-corrects-error-in-trid-rule ❤️ #share #mortgage

Valuation Partners add Denise Neely as vice president

Appraisal management company Valuation Partners announced Denise Neely has joined the company as Southwest region vice president. Neely’s new role includes overseeing business development and new client services in Arkansas, Alabama, Colorado, Louisiana, Mississippi, New Mexico, Oklahoma, Tennessee and Texas. http://www.housingwire.com/articles/36242-valuation-partners-add-denise-neely-as-vice-president ❤️ #share #mortgage

The Pros and Cons of Merging Finances

Whether you’re a newlywed or have recently moved in with your significant other, you two have a lot to decide about the best way to handle household matters. Figuring out how you’ll divide laundry duties, grocery shopping and other mundane responsibilities is a piece of cake compared to the big question: finances.

If you’re thinking about combining your finances, here are a few pros and cons to consider.

Pros

Teamwork
If you’re on the same page, with your short- and long-term financial goals synced up, and financial priorities fully aligned, there’s nothing more fulfilling than knowing you’re in this together via a complete financial union.

By combining all your assets and liabilities, you’re looking beyond your personal wants and needs, and ultimately making the commitment to succeed or fail - together, as a unit.

Simplicity
One of the benefits of joining accounts is that it makes bill paying and record keeping a whole lot easier (particularly if you’ve established a budget).

Furthermore, combining your loan accounts, such as credit cards, could help you get additional loans in the future.

And if you’re making consistent, timely payments, both of your credit scores will improve. If you had kept that credit account separate, only one of you would have the benefit of a higher score, which could hurt you down the road when you apply for additional credit.

Taxes
Sure, filing separate returns may be beneficial in some instances. (For example, if one spouse has large medical bills and can meet the deduction threshold by considering only his or her income.)

But joint filing saves time, and possibly money, too - particularly if you both work and one of you makes considerably more than the other. Combining incomes could bring the higher earnings into a lower tax bracket.

Also, some tax credits are only available to a married couple when they file jointly. Talk to your accountant for additional information about minimizing the tax bite.

Cons

Attitudes
Some couples may not agree on certain issues, like creating a spending/saving plan, setting retirement goals, or even how much debt they should carry. After all, opposites do attract, and in many relationships, there is, in fact, a spender and a saver.

If your financial philosophies don’t align, and you’re combining your financial life with someone who has vastly different expectations, goals, systems, ideals and habits, this could bring challenges and unwelcome relationship conflict.

Dependence
If you’ve been managing your money on your own for years, and have been relatively successful in doing so (from choosing your 401K funds to setting a budget to planning a vacation), you may not want to relinquish your financial autonomy.

Sure, there may be more bookkeeping for you to do if you keep your finances separate, and opt for more of a yours/mine/ours account type arrangement (commonly referred to as the “three pot system”), but it may ultimately provide you with the independence and comfort you desire.

Disentangling
You may be in la la land now, but what happens if the relationship doesn’t work out in the long run? Joint mortgages, credit cards, and bank accounts can be very difficult to separate, even with a formal court-ordered divorce decree.

Related:

• 6 Ways to Cut Costs This Winter
• The Best Saving Strategies for Baby Boomers, Gen Xers and Millennials
• Should You Try a Peer-to-Peer Loan?

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/pros-cons-merging-finances-192186/

Calyx expands service to give #mortgage #lenders 'broadest view'

Paper may be a thing of the past as one software company creates a way to apply for, see and compare all loan options online. Dennis Boggs, executive vice president, CalyxSoftware said: “Our product and pricing engine gives originators the broadest view of what is available.” http://www.housingwire.com/articles/36244-calyx-expands-service-to-give-mortgage-lenders-broader-view ❤️ #share #mortgage

Los Angeles Rams owner Stan Kroenke purchases massive Texas ranch listed for $725M

Stan Kroenke, the owner of the Los Angeles Rams, made headlines recently when the NFL agreed to allow Kroenke to move the team from St. Louis to Los Angeles. But the 60 acres that Kroenke owns in Inglewood, California where the team’s new stadium will be built pales in comparison to his latest purchase. http://www.housingwire.com/articles/36243-los-angeles-rams-owner-stan-kroenke-purchases-massive-texas-ranch-listed-for-725m ❤️ #share #mortgage

Freddie Mac to consumers: Here's how to avoid #mortgage fraud

As part of a continuing series that aims to educate consumers on all aspects of the home buying process, Freddie Mac released a video that tells consumers how to avoid #mortgage fraud when applying for a loan. In the video, Freddie Mac identifies several “red flags” that consumer should watch out for. http://www.housingwire.com/articles/36241-freddie-mac-to-consumers-heres-how-to-avoid-mortgage-fraud ❤️ #share #mortgage

A Farm of Miranda Lambert's Own Near Nashville

Country music superstar Miranda Lambert has found a sweet new place outside Nashville to contemplate whether she’ll become the Academy of Country Music’s “Entertainer of the Year” this spring.

She and ex Blake Shelton were named “Most Desirable Celebrity Neighbors” by a Zillow survey in 2013, but Lambert’s only neighbor is nature on this 400-acre spread she landed for $3.4 million.

A recent photo of the farm on Lambert’s Instagram page indicates she’s doing more strumming than “Smokin’ and Drinkin'” at her new Tennessee digs, which has lots of room for friends in its 3-bedroom main home plus two cabins.

The main house is cozy-country-luxury at its best - the perfect place for Lambert to snuggle up to her new love interest, R&B singer Anderson East. A massive stone fireplace dominates the living room, and soaring rustic wood ceilings and fireplaces grace nearly every room.

The animal-loving Lambert, who often posts photos of rescued pets from her no-kill shelter in Oklahoma, Redemption Ranch, has plenty of room for critters on this Tennessee acreage. There’s a 2-stall horse barn and plenty of storage, plus a 6-car garage for horsepower of a different sort. The garage is topped by another studio-style apartment - presumably for a caretaker.

A large lake provides water recreation right in the backyard, complete with a boat dock and canoe storage.

Lambert won’t even have to go into the big city to give a concert. An open-air pavilion on the grounds seats 60, and has a stage perfect for a private show - perhaps “The House That Built Me” and a little “Kerosene.”

Related:

• John Legend & Chrissy Teigen Nab New House for the New Year
• Robin Williams’ Villa of Smiles Finally Sells for $18.1M
• Sarah Palin’s Equestrian Estate for Sale

from Zillow Porchlight | Real Estate News, Advice and Inspiration http://www.zillow.com/blog/miranda-lambert-buys-near-nashville-191629/

Home appraisal values still below homeowner price expectations

Quicken Loans announced the average appraised values in December were 1.8% lower than what homeowners’ valued their home. According to its monthly HPPI, December is the 11th straight month when appraised values were lower than homeowners expected, although December marks the fourth month the gap between the two values have narrowed. http://www.housingwire.com/articles/36240-home-appraisal-values-fails-to-reach-expectations-the-last-11-months-of-2015 ❤️ #share #mortgage

OCC lifts #mortgage servicing restrictions on U.S. Bank, Santander

The Office of the Comptroller of the Currency announced Tuesday that it is terminating #mortgage servicing-related consent orders against U.S. Bank National Association and Santander Bank, lifting the #mortgage servicing restrictions placed on both banks last year due to failure to comply with requirements of the Independent Foreclosure Review. http://www.housingwire.com/articles/36239-occ-lifts-mortgage-servicing-restrictions-on-us-bank-santander ❤️ #share #mortgage

CoreLogic: Foreclosures fall to lowest level since 2006

In another sign that the recovery from the housing crisis is ongoing rather than stalled out, the total number of completed foreclosures in 2015 was the lowest number of completed foreclosures in any year since 2006, a new report from CoreLogic shows. http://www.housingwire.com/articles/36238-corelogic-foreclosures-fall-to-lowest-level-since-2006 ❤️ #share #mortgage

Ditech shakes up management, combines leadership of originations and servicing

When Walter Investment Management Corp. merged two of its well-known subsidiaries last year, Green Tree Servicing and Ditech #mortgage Corp, the company said that the #mortgage servicing and originations businesses would be lead by David Schneider and Patricia Cook, respectively. But Monday, Walter Investment announced that Cook is leaving the company, effective immediately, and said that Schneider will be taking over both the servicing and originations operations. http://www.housingwire.com/articles/36235-ditech-shakes-up-management-combines-leadership-of-originations-and-servicing ❤️ #share #mortgage

What You Don’t Need To Hear From Your Listing Agent

You’ve decided to sell your house. You begin to interview potential real estate agents to help you through the process. You need someone you trust enough to:

* Set the market value on possibly the largest asset your family owns (your home)
* Set the time schedule for the successful liquidation of that asset
* Set the fee for the services required to liquidate that asset

An agent must be concerned first and foremost about you and your family in order to garner that degree of trust. Make sure this is the case.

Be careful if the agent you are interviewing begins the interview by:

* Bragging about their success
* Bragging about their company’s success

An agent’s success and the success of their company can be important considerations when deciding on the right real estate professional to represent you in the sale of the house.

However, you first need to know that they care about what you need and what you expect from the sale. If the agent is not interested in first establishing your needs, how successful they may seem is much less important.

Look for someone with the ‘heart of a teacher,’ who comes in prepared well enough to explain the current real estate market and patient enough to take the time to show how it may impact the sale of your home.

Not someone only interested in trying to sell you on how great they are.

You have many agents from which to choose. Pick someone who truly cares. http://www.simplifyingthemarket.com/2016/02/09/what-you-dont-need-to-hear-from-your-listing-agent/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

PRMI expands presence in Utah

#mortgage #lender Primary Residential #mortgage Inc, announced the opening of its 14th branch located in Orem, Utah, and named three new executives to fulfill the company’s growth plans. http://www.housingwire.com/articles/36232-prmi-expands-presence-in-utah ❤️ #share #mortgage

5 Signs It's Time to Walk Away from a Home Purchase

Buying a home is an exciting, stressful and emotional process.  Once you’ve gone to lots of open houses and started making offers, chances are you might get hooked on a house or two.

But even when you’re this far into it, several situations can occur to make the deal seem less appealing. It’s tough to reconcile your love for a home with worry that a financial venture doesn’t seem right.

If this happens, you’ll have to seriously consider whether you want to move forward. Here are five red-flag scenarios that should make you think twice about buying the home you’ve got your eye on.

The appraisal comes in below the contract price

In active markets where there can be multiple interested parties for any one home, it’s not uncommon for the bank’s appraisal to be below the contract price. In this case, the buyer might have to bring additional funds to the table, which might not be an option. Or you can try to negotiate with the seller for a lower price.

But with multiple offers, the seller might be unwilling to take less - and why should they, if another buyer is ready to go?

There are other options, like going to another bank and getting a new appraisal, and a buyer who’s been shopping for a while will figure out a way to make it work.  But if you’re new to the process and it feels too uncomfortable, you should walk from the deal.

The inspection report shows too many issues

Sometimes buyers who proclaimed upfront that they wouldn’t even look at a fixer-upper home turn around and decide three months later that they’re willing to do work on the house of their dreams.

As they navigate the market, buyers realize where their money takes them, and what they get in return. A great deal in the best neighborhood is probably a deal for a reason. Most likely, it needs work - big time.

While many buyers do change their tune and are open to this, many are not. Consider living through six months of construction, constantly having to make decisions, and managing multiple aspects of the project, on top of having a full-time job.

If it’s not up your alley, it’s time to walk.

You’ve made a compromise that doesn’t sit right with you

The home search starts off with a giant list of criteria, including must-haves and nice-to-haves. But price often determines where you live and what you purchase.

As you get pre-approved for a mortgage and move through the process, you’ll find yourself making compromises. You might have to give up the spa-like master bathroom, a renovated or open kitchen, or your desired neighborhood or school district.

But if you give up on your top criteria just to make a deal work, you might find yourself with a problem. Take a step back, and listen to your gut.

You’ve pushed to the very top of your original price range

After meeting with a mortgage pro, you tell yourself you’re comfortable with $600,000 as the top of your range.

Fast forward three months, and you’re in a multiple-offer situation on an underpriced house at $589,000, and you offer $625,000.

It’s a personal decision, and only you know your true comfort and price limit. You might have left yourself some breathing room in the beginning.

It’s all about compromise. If you don’t feel like you can swing it financially, pull back. Do you want to live in an empty home because you maxed out your budget and can’t afford to purchase furniture or window coverings?

You’re purchasing with another person, and you aren’t both 100% on board

Buying a home is a joint decision for many people. Both parties must be on the same page, or you absolutely can’t move ahead.

Before you start home shopping, talk through your must-haves, wants, desires and needs with each other.  Know which compromises are going to be tough, and try to iron them out well in advance.

You can’t control which houses come on the market, but you can control your approach to them.  If one party feels the tiniest bit uncomfortable with a real estate deal, it’s time to jump ship.

If you find yourself awake at 3 a.m. wary of some part of your purchase decision, take note. Almost everyone feels uncomfortable at some point, and a certain amount of nervous energy comes with a home purchase.

But know when enough is enough, and be willing to walk away. You have every right to do so.  Don’t feel pressure from yourself, spouse, partner or anyone involved in the real estate transaction. You should be happy and excited for the purchase.

Related:

• 5 Biggest Home-Buying Fears (and How to Face Them)
• Go Bigger or Go to a New Home?
• How Buyers Should Prepare for Their Final Walk-Through

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/when-to-walk-away-home-purchase-192118/

1st Portfolio Lending changes name to WashingtonFirst #mortgage

WashingtonFirst Bankshares, the parent company of WashingtonFirst Bank, announced Monday that it is rebranding its wholly-owned residential #mortgage lending subsidiary, 1st Portfolio Lending, as WashingtonFirst #mortgage. http://www.housingwire.com/articles/36237-st-portfolio-lending-changes-name-to-washingtonfirst-mortgage ❤️ #share #mortgage

Texas court upholds MERS right to claim lien

Summit Residential Services acquired an interest in the subject property following a foreclosure sale conducted by a homeowner’s association — and moved to clear title. Summit was granted judgment in its favor; extinguishing a MERS lien. So, MERS countersued in April 2104, and won. http://www.housingwire.com/articles/36236-texas-court-upholds-mers-right-to-claim-lien ❤️ #share #mortgage

Zillow founder: Is virtual touring next for the housing market?

In an interview with local media, Zillow founder and CEO reflect on their past success, and speculate on the future. Could virtual touring be the next step when it comes to selling a home? http://www.housingwire.com/articles/36234-zillow-founder-is-virtual-touring-next-for-the-housing-market ❤️ #share #mortgage

Software business Default Servicing Technologies rebrands

Creators of critical software for banks, services, #mortgage professionals and many others are rebranding themselves. They want their name to be a truer reflection of what they are, what they do, and who they serve. http://www.housingwire.com/articles/36233-software-creator-business-rebrands ❤️ #share #mortgage

California real estate agent busted with 250 pounds of marijuana

A California real estate agent is under arrest in Arkansas after state police found more than 250 pounds of “high grade” marijuana hidden in a trailer attached to the truck she was driving last week. http://www.housingwire.com/articles/36231-california-real-estate-agent-busted-with-250-pounds-of-marijuana ❤️ #share #mortgage

Quicken Loans Super Bowl ad strikes wrong nerve with Twitteratti and journalists

In its first-ever Super Bowl commercial, Detroit-based Quicken Loans created a 60-second TV spot, which showcases Rocket #mortgage, its fully online #mortgage. It aired to the massive audience, many of whom then promptly proceeded to fuel bombastic panic on Twitter, claiming that Rocket #mortgage will lead to the housing crisis redux. http://www.housingwire.com/blogs/1-rewired/post/36230-quicken-loans-super-bowl-ad-strikes-wrong-nerve-with-twitteratti-and-journalists ❤️ #share #mortgage

Is San Francisco in a housing bubble?

San Francisco often ranks among the “hottest” housing markets due to its rapidly rising housing prices But how hot is too hot? A new report from Fitch Ratings suggests that San Francisco is reaching that point, with the dreaded “b” word being thrown around now. http://www.housingwire.com/articles/36229-is-san-francisco-in-a-housing-bubble ❤️ #share #mortgage

Wells Fargo settles #mortgage kickback class action lawsuit for $16.2 million

Wells Fargo will pay more than $16 million to settle a class action lawsuit brought against the megabank by more than 9,000 customers of Genuine Title, who accused the bank of accepting kickbacks from Genuine Title in in exchange for business referrals. http://www.housingwire.com/articles/36228-wells-fargo-settles-mortgage-kickback-class-action-lawsuit-for-162-million ❤️ #share #mortgage

Homes Selling Quickly Across The Country

According to the National Association of Realtors’ (NAR) Existing Home Sales Report, homes were on market for an average of 58 days in December. This was slightly longer than the 54 days in November, but still better than the 66 days experienced in December 2014. 

32% of homes across the country were on the market for less than a month!

Colorado, Utah and Delaware led all states as home are selling in 30 days or less on average. The map below was created using results from NAR’s Monthly Realtor Confidence Survey.

Bottom Line

Buyer demand remains strong. The inventory of homes available for sale remains low. If you are thinking about listing your home for sale this year, let’s get together to talk about how you can take advantage of current market conditions! http://www.simplifyingthemarket.com/2016/02/08/homes-selling-quickly-across-the-country/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage

Top Celebrity Home Buyers & Sellers of the Past Decade

In the 10 years since Zillow rose from a twinkle in co-founders Rich Barton and Lloyd Frink’s eyes to an online real estate powerhouse, home-loving celebrities have been powering through some real estate of their own.

Oprah was far and away the top home buyer during that decade-long stretch, further solidifying her lead by paying $28.85 million at a recent auction for a sprawling horse farm in Montecito.

Still, Ellen DeGeneres, Cher and Nicolas Cage (hello, “Moonstruck”!) were no slouches in the home buying and selling arena during that time.

Oprah Winfrey

America’s favorite billionaire owns homes all over the country, from Chicago to Nashville to Hawaii. She’s even bought a 2-bedroom in a small Indiana town where she once owned a whole farm.

Recently, the television mogul paid $14 million for a high-tech mansion in the box-canyon ski town of Telluride — complete with a seven-person hot tub and a “wine mine.”

Ellen DeGeneres

Beloved comedian and talk-show host Ellen DeGeneres has been buying copious numbers of homes since before she married Portia de Rossi. “I’ve never bought to sell. I always say: ‘This is it. I’m never moving.’ People laugh at me now,” she told The New York Times.

DeGeneres bought this Malibu home from fellow house-flipper Brad Pitt.

She also spent $26.5 million on an acreage in Montecito with ocean views.

A couple of years ago, she went on a streak of owning homes for just 6 months each, including the famed Brody House in Los Angeles.

Nicolas Cage

“Other people own beachfront property; I have ghost-front property,” actor Nicolas Cage said of owning the most haunted mansion in New Orleans, the Lalaurie House.

Not that he limits himself to ghosts. Among the dozen-plus places he’s called home over the past decade are a castle in Bath, England, and a castle-looking home in Rhode Island, which he sold at a 60 percent loss.

Cher

The multi-talented entertainer with seemingly endless energy found time over the past decade to trade real estate, including buying this home in the coveted 90210 ZIP code.

She also bought a home in Malibu where family reportedly live. It’s near her villa there, where she told Architectural Digest “every room has two views of the ocean.” The remodel of her villa wasn’t cheap, she acknowledged. "My mother once said to me, 'What you need is a very rich man.’ And I said, 'Mother, I am a very rich man.’”

Cher has also sold a slew of homes in recent years, from Palm Springs to West Hollywood to Los Angeles, where her son Elijah Blue reported lived in this home near Venice Beach:

And she auctioned off her Hawaiian estate for a hefty $8.72 million:

Angelina Jolie & Brad Pitt

Here’s a power couple with a powerful appetite for real estate. They’ve bought at least six homes in the past decade and sold one to Ellen DeGeneres. That doesn’t even count the $22.5 million sale of the Beverly Hills home Pitt and ex-wife Jennifer Aniston sold after their split.

Jolie and Pitt recently cut the listing price on the New Orleans mansion they bought in 2006 for Pitt’s Big Easy filming of “The Curious Case of Benjamin Button” by $850,000.

Julia Roberts

Here’s a superstar with a super-long list of homes. Roberts bought her main residence, at Malibu’s Point Dume, in the early 2000s, but has done a fair bit of transacting in the meantime.

She’s asking $26 million for a lush Hawaiian estate that’s near two other Hanalie properties she owns:

While she dropped the price on that tropical oasis, Roberts raked in more than she was asking — for a total of $5.35 million — on a Greenwich Village penthouse for which paid $3.9 million in 2010:

Roberts still has a pad in Manhattan, which she’s reportedly renting out. But she’s unloaded a lot, including homes in her hometown of Smyrna, GA, and in Pacific Palisades, Beverly Hills and Venice, the latter to actor Tim Robbins. Across the country, she’s sold homes in Tennessee, Massachusetts and Rhode Island.

Dwayne “The Rock” Johnson

For a guy his size, Dwayne Johnson is surprising nimble — at home trading.

The Rock has leaned mostly toward home selling over the past decade — most of those homes in Florida. He’s unloaded at least 10 homes there over the past decade, including this mega-mansion outside Miami with two 3-car garages and a deluxe master bath:

Rosie O’Donnell

Here’s another talk-show host with a voracious appetite for real estate. O’Donnell’s most recent score is this mansion in West Palm Beach with 180 feet of waterfront:

She paid $5.3 million for it, fully furnished, which shouldn’t be a stretch given the $9 million sale a couple of years ago of her Greenwich Village penthouse:

She tried unsuccessfully to sell four riverfront homes she collected in Nyack, NY:

But the comedian had better luck selling multi-million-dollar homes in Chicago, Manhattan and Miami Beach.

Kelsey Grammer

While Sideshow Bob was busy being a, well, sideshow on “The Simpsons,” the actor who voices him was center stage in the first season of “The Real Housewives of Beverly Hills,” in which his marriage fell apart — precipitating all sorts of real estate swaps.

The property-loving Grammer unloaded many of his and ex-wife Camille’s holdings in recent years, including their main home in Malibu:

The Grammers also let go of homes in Beverly Hills, Hawaii, The Hamptons and this ski retreat in Colorado:

Before his marital woes began, Grammer sold a Bel-Air estate to actress Salma Hayek for $13.5 million.

Reese Witherspoon

For a while, this Oscar winner was a Brentwood fanatic. She bought three homes in the posh Los Angeles enclave, including an “enchanted cottage,” that collectively went for $13.6 million in 2014.

Witherspoon sold her Ojai getaway at a loss:

She picked up a $12.7 million Pacific Palisades mansion, along with two homes in Nashville suited to a Southern belle. One of them is a historic home she plans to restore:

Related:

• The Top 10 Real Estate Stories of the Past 10 Years
• 10 Home Design Images Everyone Loves
• Hottest Housing Markets for 2016

from Zillow Porchlight | Real Estate News, Advice and Inspiration http://www.zillow.com/blog/top-celebrity-buyers-sellers-191397/

Monday Morning Cup of Coffee: Risky home lending really on the comeback?

#mortgages received plenty of attention this weekend, and not just during Super Bowl commercial breaks, with reports offering divided view of the markets, according to the various media platforms that published the copy. Despite the click-bait headlines, it’s not time to panic. http://www.housingwire.com/blogs/1-rewired/post/36227-monday-morning-cup-of-coffee-risky-home-lending-really-on-the-comeback ❤️ #share #mortgage

India Travel Tips, Travel India Tips, bespoke travel to India

India Travel Tips, Travel India Tips, bespoke travel to India:

maavalan:

India is a fascinating country underlined with a lot of unwritten codes. We make a humble effort of marking out a few of them that are essential to your stay in India and will help you make your stay more enjoyable.

mrvegasvip: Hotel Room Discounts in your favorite Cities. Click...

mrvegasvip:

Hotel Room Discounts in your favorite Cities. Click link to see rates:
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dukeartstudios: The cover to my new book. My twist on the...

dukeartstudios:

The cover to my new book. My twist on the original Napoleon Hill Classic. Check it out at www.BigDreamsSmallWorld.com