Wed.Jan 13, 2021

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New-year optimism reflected in mortgage applications jump

Housing Wire

Mortgage applications jumped 16.7% after a 4.2% drop last week , according to the Mortgage Bankers Association. The jump underlines the seasonality behind last week’s decreas e in mortgage rates, as well as the expectation of additional fiscal stimulus from the incoming administration, per MBA Associate Vice President of Economic and Industry Forecasting Joel Kan.

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Will Forbearance Plans Lead to a Tsunami of Foreclosures?

Keeping Current Matters

At the onset of the economic disruptions caused by the COVID pandemic, the government quickly put into place forbearance plans to allow homeowners to remain in their homes without making their monthly mortgage payments. Today, almost three million households are actively in a forbearance plan. Though 29.4% of those in forbearance have continued to stay current on their payments, many have not.

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Here’s the salary you need to buy a home in five of the largest U.S. cities

Housing Wire

If you’re considering purchasing a home, you probably have a lot of questions. One being, how much do you need to earn in a year to afford a mortgage in the U.S.? . Since home prices vary state-by-state, the salary you need to qualify for a mortgage in the U.S. depends a great deal on where you live. For example, the median price of a home in New York is typically more expensive than a home in Wisconsin.

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Canada’s Economy Has Never Been More Dependent On Real Estate

Better Dwelling

Canada’s economy just became even more dependent on real estate. Statistics Canada (Stat Can) data shows residential investment soared to a record high in Q3 2020. The rate it’s grown over the past few months has far outpaced the economy. Consequently, residential investment is now the biggest percent of GDP it has ever been. Residential […].

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3 Real Estate Office Hacks to Help Kickstart the Busy Season

Ready to better your Back Office? Dive into the secrets to a powerhouse back office with Brokermint expert, Jessica Souza. In this free download, she shares her 3 transformative hacks designed to clean house, get everyone on the same page, and set yourself up for success. From optimizing agent profiles to ensuring flawless transactions and boosting agent retention, these strategies are your ticket to a seamless operation.

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Fed considers regulating AI used by financial institutions

Housing Wire

The Federal Reserve is looking into the rise of artificial intelligence and machine learning, and is considering stepping up its oversight of these technologies used by financial institutions. Federal Reserve Governor Lael Brainard spoke at the AI Academic Symposium virtual event on Tuesday, hosted by the Board of Governors of the Federal Reserve, saying it is important that the use of AI by the financial community is leading to equitable outcomes for consumers.

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Impact of the CARES Act on mortgage servicing operations

Housing Wire

Since the CARES Act was signed into law, homeowners across the U.S. have taken advantage of its mortgage relief provisions. In fact, as of November 2020, a total of 6.5 million borrowers had been, or still were, on a COVID-19-related forbearance plan, either through the CARES Act or another program. Fortunately, the forbearance programs and foreclosure moratoria have protected many Americans from losing their homes during the pandemic.

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Canada’s Mortgage Lenders Have Set Aside A Record Amount For Bad Loans

Better Dwelling

Canada’s real estate markets are booming, but lenders are preparing for mortgage losses. Bank of Canada (BoC) data shows the allowance for credit losses due to mortgages reached a record high in Q3 2020. The record was reached with the biggest surge in the annual rate of growth since the Great Recession. Allowance For Credit […]. The post Canada’s Mortgage Lenders Have Set Aside A Record Amount For Bad Loans appeared first on Better Dwelling.

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UWM will partially refund borrowers for late appraisals

Housing Wire

United Wholesale Mortgage ( UWM ) unveiled a new policy this week, telling brokers that appraisals will be completed within 10 business days or they’ll refund 50% of the appraisal cost back to the customer. The initiative, called “Appraisal Promise,” drops just a week before the wholesale lender’s Wall Street debut on Jan. 22.

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Tips and Tricks to Raise Your Website’s Rank in 2021

Jason Fox

Tips and Tricks to Raise Your Website’s Rank in 2021. Raising your website's rank in 2021 requires that you improve your Search Engine Optimization (SEO) tactics. SEO is a game of rules, and you need to implement Googles' requirements to appear on the top pages. At first, all you need to learn are the basics of keywords, tags, and content. But as you dive deeper.

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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.

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Guaranteed Rate now has a path toward an IPO, whether its CEO wants it or not

Housing Wire

It took a few years, but Victor Ciardelli has finally captured the one that got away. The founder and CEO of Guaranteed Rate , which originated $73 billion in mortgages last year, has made joint ventures and acquisitions a cornerstone of his growing business. In 2017, Guaranteed Rate struck a deal with the largest real estate brokerage conglomerate in the country, Realogy , to form a landmark joint venture.

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What I learned as a first-time home buyer of an old house

Zolo

Tips to help you buy and fix up that old house on a budget. The post What I learned as a first-time home buyer of an old house appeared first on Zolo.

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Visa, Plaid terminate $5.3 billion merger agreement

Housing Wire

This article was originally published on FinLedger, HW Media’s new, fintech-focused sister publication. Almost exactly a year after announcing their $5.3 billion merger, Visa and Plaid have called off the proposed marriage, and the U.S. Department of Justice has agreed to drop its antitrust lawsuit challenging the deal. Visa announced termination of the deal and the lawsuit in a Jan. 12 news release.

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Watch out: Zillow’s terms of service have some sinister notes

The American Genius for Real Estate

(REAL ESTATE CORPORATE) Zillow’s updated terms of service allow them to make a lot of decisions with your data—none of which need your approval. The post Watch out: Zillow’s terms of service have some sinister notes appeared first on The American Genius Real Estate.

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Accelerating Real Estate Sales Pipelines to Streamline Buyer Journeys

Navigated 360° tours, like YourVRTours, advance pipelines by engaging clients further along the sales funnel. These immersive experiences provide comprehensive property insights, increasing buyer intent and readiness. By embracing navigated tours, agents can optimize property exposure, better qualify leads, and streamline the sales process. Stay ahead in the ever-evolving real estate landscape with innovative technology that elevates buyer journeys and progresses pipelines more effectively.

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Mortgage Tech: Black Knight, CoreLogic and Mutual of Omaha

Housing Wire

As more and more mortgage tech companies enter the scene, competition for accessibility and personalization gained speed this week as proptech touched down in more niche submarkets. Data analytics giant Black Knight unveiled a new self-service style platform aimed at correspondent lending that will allow lenders to manage conditions and validate pricing locks on Best Effort loans.

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Dream Home Inspo: Miami’s Most Expensive Listings

Homes.com

Looking to buy a beach home or simply want a taste of million-dollar living? Miami's most expensive listings will leave you breathless! The post Dream Home Inspo: Miami’s Most Expensive Listings appeared first on Homes.com.

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Carriage House on Cobble Hill’s Verandah Place With Wood Burning Fireplace Asks $2.995 Million

Brownstoner

Verandah Place is one of those little Brooklyn streets that oozes charm thanks to its row of low-scale 19th century brick homes and a location facing popular Cobble Hill Park. While not all of the modest buildings originally served as stables, 20 Verandah Place was indeed originally constructed for Brooklynites… Read More > The post Carriage House on Cobble Hill’s Verandah Place With Wood Burning Fireplace Asks $2.995 Million appeared first on Brownstoner.

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I got a Report of Available Funds letter from a lender. Is it a scam?

The Mortgage Report

Letters titled "Report of available funds" or "You qualify for an MIP reduction" are ads trying to get you to refinance. Here's what you should know.

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Maximizing Your Online Presence: Tips for Real Estate Agents on Social Media

Speaker: Sarah Santa Ana, Real Estate Coach, Move4Free Realty

Networking is one of the crucial elements in every real estate organization's success. Both agents and real estate companies need to maintain robust networking links. This is why social media is essential for any real estate professional! Social media enables you to stay in touch with your present clients, maintain connections with your past clients, and engage potential customers and investors.

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Decluttering for Dummies: Insider Secrets for Organizing Your Overflowing Book Collection

Realtor.com

clu/Getty Images Last year changed the way we do a lot of things—especially the way we live at home. Between mandatory shelter-in-place orders, canceled vacation plans, and working remotely, we’re all spending a lot more time inside our four walls than ever before. And with our houses now doing extra duty as offices, gyms, and even classrooms for the kids, there’s undoubtedly no shortage of clutter.

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Brooklyn Artists Speak Directly to Brooklyn in BAM’s ‘Let Freedom Ring’ Installation

Brownstoner

The pandemic has changed things. Preparing the Brooklyn Academy of Music’s annual Martin Luther King Day celebration, which will be held virtually this year on January 18, the organizers wondered how to incorporate an art project into the fabric of an event that nobody can attend in person. Usually, a… Read More > The post Brooklyn Artists Speak Directly to Brooklyn in BAM’s ‘Let Freedom Ring’ Installation appeared first on Brownstoner.

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New Waterfront Restaurant Opens in West Palm Beach

Waterfront Properties

Following the restaurant’s success in their Delray Beach location, Elisabetta’s Ristorante, Bar, and Pizzeria has opened a second location on the waterfront in downtown West Palm Beach. The waterfront restaurant opened to the public yesterday. The new 300-seat, 10,000 square foot restaurant located on Banyan Boulevard overlooking the Intracoastal Waterway features ample open-air seating, a pair of gold tiled Neapolitan pizza ovens, wooden beam ceilings, multi-level patios, a fireplace, a full-si

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Meet The Real Estate Tech Entrepreneur: Justin Fichelson from Avenue 8

GeekEstate

We interviewed Justin Fichelson from Avenue 8 in the second real estate tech entrepreneur interview of 2021. Let’s get to it! Who are you and what do you do? I’m the CEO and co-founder of Avenue 8, the only mobile-first real estate brokerage built expressly for modern agents. Our platform gives agents all the tools and support they need to be successful and entrepreneurial, to close from anywhere, and to keep substantially more of their income.

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Rise of The Apps: Building Your Dream Tech Stack For Real Estate Success

Speaker: Trey Willard, Realtor/Team Leader at Keller Williams Realty, Inc.

In order to create continued success in today’s real estate market, realtors need to utilize an arsenal of technology that will increase their efficiency and presence on social media. Using technology to manage your prospects and tap into their needs through websites, social media, and other channels is critical for real estate success in 2022 and beyond.

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ArtiGras Art Festival Looking For Volunteers

Waterfront Properties

It was announced in December that the popular ArtiGras Art Festival held every winter will be moving back to Palm Beach Gardens. For the past 20 years, the annual art festival was held in Jupiter but due to construction, the festival is moving back to Palm Beach Gardens. Recently, the festival organizers have announced that they are looking for volunteers to help partake in the weekend activities.

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Refinancing Soars in First Full Week of New Year

Eye on Housing

The Mortgage Bankers Association’s (MBA) latest Weekly Application Survey shows that, for the week ending January 8, 2021, mortgage application activity increased by 16.7% from the prior week on a seasonally adjusted basis, as indicated by its Market Composite Index. One of its two constituent indexes, the Purchasing Index, increased by 8% from the previous week while the other, the.

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Illinois’ Most Expensive Home Is a $18.75M Mansion in Chicago’s Gold Coast Neighborhood

Realtor.com

realtor.com No matter the price point, there are amenities that are difficult to come by in an urban setting: natural sunlight, a courtyard, and more than 10,000 square feet of living space. However, this 20,000-square-foot home in Chicago’s tony Gold Coast neighborhood ticks all three boxes. It’s now on the market for $18,750,000 and listed by Katherine Malkin of Compass.

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Mortgage and refinance rates today, January 13, 2021

The Mortgage Report

Today’s mortgage and refinance rates Average mortgage rates rose appreciably yesterday. They haven’t fallen since Jan. 4 so they’re some way above the all-time low. But they’re still within the […].

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5 Data Proven Ways Agents Can Do 18% More Business

Curious as to how you could do 18% more business? How about 14 more transaction sides per year? Check out this infographic with data from a RealTrends study to learn more.