Mortgage Applications Rise as Purchase Activity Soars

Written on November 19, 2014 at 4:54 pm

Mortgage application volume increased for the first time in a month last week driven by more purchase activity.  The Mortgage Bankers Association’s market composite index was up 4.9% for the period ending Nov. 14 . . . Read more (via National Mortgage News, 11/19/14 article by  Evan Nemeroff. Read More...

Tipping Point Coming for Electronic Closings

Written on November 5, 2014 at 2:26 pm

After more than a decade of hype and promise, fully electronic loan closings remain rare, even as the mortgage industry increasingly adopts digital workflow. But some industry observers believe a new regulatory pilot program may do what technology advances and e-commerce advocates could not: spark widespread adoption of e-closings. Read more >>>    Source:  National  Read More Read More...

To Reach Millennials, Think Outside the Box

Written on August 29, 2014 at 1:23 pm

“. . . millennials think differently than we do. . . they value the feedback of peers, and they want constant stimulation and online engagement to feel connected. . . RESPA attorneys would have a field day with mortgage companies bribing teenagers to send them traffic, but the idea of establishing a number of connected relationships and then  Read More Read More...

Beware the Zombie Foreclosure

Written on August 7, 2014 at 1:28 pm

Walking Dead? Beware the Zombie Foreclosure:  Just when you thought the exotic issues regarding residential default had all been discovered, discussed and litigated, here comes the so-called zombie foreclosure. . . . Specifically, RealtyTrac defines the phenomenon as “properties that have started the foreclosure process but have never been foreclosed and the homeowner has vacated.”  Read More Read More...

Grammar Rules in Real Estate

Written on July 2, 2014 at 4:24 pm

It’s not just English teachers who notice misspellings in luxury-home listings; typos and missing commas can slow sales and drag down prices.  An analysis of listings priced at $1 million and up shows that “perfect” listings—written in full sentences without spelling or grammatical errors—sell three days faster and are 10% more likely to sell for  Read More Read More...

Sign on the Digital Dotted Line

Written on April 18, 2014 at 12:02 pm

Mortgage closings are coming into the digital age as transactions are going paperless with e-signatures accepted at the Federal level. “In an electronic age, mortgage closings stand out as particularly cumbersome transactions. Come closing day, hundreds of pages of paper land in a thump before the borrower, who must then physically sign and initial them  Read More Read More...

96% of Markets Better Off Than in 2010

Written on April 2, 2014 at 8:58 pm

A new report by RealtyTrac shows that 96 percent of the counties that they track are better off than they were four years ago. But still, there’s a ways to go in the housing market, with only 8 percent of the 410 U.S. counties analyzed faring better than they did during the housing boom eight  Read More Read More...

How Much Real Estate $1 Million Buys You in Every Major U.S. City

Written on March 19, 2014 at 2:24 pm

How much housing you can buy with a million dollars very much depends on what city you are looking to buy in.  According to Knight Frank data cited by CNBC’s Robert Frank, a million dollars goes a lot further in Cape Town, South African, than it would in Monaco.  But what about in the U.S.?  Read More Read More...

New legislation capping flood insurance premiums

Written on March 6, 2014 at 5:48 pm

House Passes U.S. National Flood Insurance Change: The U.S. House passed legislation trimming premiums for government-sponsored flood insurance that proponents say have dampened real-estate markets in coastal areas.  Source: Bloomberg news article By James Rowley Mar 4, 2014 7:06 PM ET.  Read more >> Read More...

A Nonprofit Lender Revives the Hopes of Subprime Borrowers

Written on March 6, 2014 at 2:09 pm

“. . . the Neighborhood Assistance Corporation of America, has $10 billion in funding from Bank of America to make loans on its own terms over the next decade. It does not require down payments. It does not consult credit scores. Its loans all carry interest rates below 4 percent.  It has enough money to mint  Read More Read More...