Housing Wire

MARCH 23, 2021

In recent years, we have seen a significant uptick in fraudulent activity ranging from the high tech — intercepted wire transfers and electronic title phishing scams — to low-tech, such as applicants submitting falsified or doctored bank statements. Wherever there is commerce, there will be fraud, and the mortgage industry is no exception.

Lending 450

Lending Mortgages Due diligence Debt-to-income ratio 450

Housing Wire

APRIL 22, 2021

“Plus, we’re a due diligence state, so right now if you don’t go way over listing price and offer a substantial due diligence price, there’s no point in even submitting an offer.” ” The current average due diligence is around 3.1% Thankfully, most banks were still lending.

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Due diligence Renovation Lending Land 432

Housing Wire

APRIL 26, 2022

Karl Jacob, CEO and co-founder of LoanSnap , said the cyrpto-mortgage system his company has developed can originate more than just loans that LoanSnap mints. In addition to crypto-mortgages, LoanSnap is a full-stack mortgage company that originates traditional mortgages as well. It’s an open platform.

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Due diligence Mortgages Equity Loans 450

Realty Biz

FEBRUARY 19, 2024

However, the process involves intricate steps, from understanding zoning laws to securing financing and conducting due diligence. I have helped developers build and sell entire subdivisions from the ground up. Careful due diligence is necessary to ensure you don't make any significant mistakes.

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Land Due diligence Title search Finance 127

Housing Wire

FEBRUARY 16, 2023

In his new role, Seehausen will work with the leadership team at LauraMac, overseeing strategic planning and developing new and existing products. “I According to the company, less than two years later around 75% of approved diligence firms are using its technology. “We where he will continue to serve in this role.

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Loans Principal Technology Development 373

Housing Wire

JANUARY 13, 2023

The third deal in motion, also backed in part by investment properties, is now undergoing due-diligence review. It is an estimated 470-loan securitization — with no value yet assigned in the due-diligence documents filed with the U.S. They include a $405.2 Approximately 36.8% Another of the planned offerings is a $485.9

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Marketing Investor Due diligence Loans 421

Housing Wire

MAY 10, 2022

“Eric Hill engaged in premeditated criminal acts with the sole purpose of enriching himself, without regard for millions of American homebuyers who rely on federal housing programs to insure their mortgages,” Wyatt Achord, special agent in charge with the Department of Housing and Urban Development (HUD) Office of Inspector General, said in a U.S.

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Mortgages Marketing Loans Finance 397

Housing Wire

MAY 26, 2023

But as the housing industry has gotten better at tackling it, fraudsters have been hard at work developing more creative scams. The threat posed by wire fraud has commanded quite a bit of attention from the real estate ecosystem. In January, a report from wire fraud prevention firm CertifID in conjunction with the U.S.

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Title Land Due diligence Sales 384

Marco Santarelli

APRIL 9, 2024

This is a contrast to other forms of real estate investments in which you first have to spend time and resources on construction, development, marketing, and selling. This is a contrast to other forms of real estate investments in which you first have to spend time and resources on construction, development, marketing, and selling.

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Due diligence Property Management Investor Development 93

Housing Wire

AUGUST 11, 2020

And now, thanks to these reforms, we live in an era of far greater mortgage banking controls and stability. By learning from the lessons of the past, we’ve developed a responsible and safe method to provide much-needed down payment assistance, and I’m proud to be part of it. It’s a serious challenge.

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Due diligence Loans Mortgages Development 421

Housing Wire

MAY 23, 2023

This new development is being propelled by an alleged Fannie Mae “request” that, according to industry sources, was made recently of several lenders active as buyers in M&A deals. It is not clear how many other lenders received the request from Fannie Mae.

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Loans Purchase and sale agreement Due diligence Industrial 397

Housing Wire

APRIL 20, 2021

” From the Mortgage Bankers Association (MBA): “While MBA supports the ongoing development of such tools, MBA also acknowledges the need for appraisers and lenders to provide some level of oversight and due diligence to preserve the overall quality of the data referenced in future valuations.

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Technology Due diligence Lending Industrial 397

GeekEstate

NOVEMBER 1, 2021

The opportunity: Reporting to the Senior Associate, the Analyst will be responsible for supporting the Senior Associate in managing deal pipeline, conducting due diligence, producing financial performance and metrics reports, managing LP reporting, and assisting in developing efficient operating procedures as SCV grows into a global juggernaut.

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Due diligence Equity Development Banks 108

HomeLight

APRIL 22, 2024

Albuquerque is ripe with opportunities for real estate investors due to its relative affordability, abundance of high-quality tenants, and growing economy. Department of Housing and Urban Development (HUD), investors with smaller portfolios (typically 1–9 units) made up 88% of the city’s investor market.

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Proof of funds Sales Due diligence Investor 62

Housing Wire

MARCH 15, 2024

So why aren’t more commercial real estate (CRE) entities – investors , principals, banks, law firms or developers – seeking the same? They can be, in essence, the “boots on the ground” for investors and developers alike. Right now, we’re generally seeing more mixed-use developments and multifaceted commercial projects.

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Commercial Brokerage Due diligence Title 420

Toronto Realty Blog

OCTOBER 10, 2023

A “power of sale” is simply a forced sale process because the owner defaulted on the mortgage, and the bank wants to get their money out. The agent just won’t present your offer, nor will the bank consider it. ” The funny thing is, most of these guys had no money! Don’t like it? No problem.

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Purchase and sale agreement Sales Due diligence Title 76

HomeLight

AUGUST 16, 2021

So how can you develop that skill that makes the pros so confident — and drives major return on investment? These are properties that have been foreclosed , and the ownership has fully transferred to the bank or lender. These are properties that have been foreclosed , and the ownership has fully transferred to the bank or lender.

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Banks Pre-qualification Investor Short sale 104

Realty Biz

NOVEMBER 17, 2020

They will report back to the bank, letting them know the structures on the property are within the boundary lines or not. Let’s review the things you need to understand about land surveys before you decide to get one. Understanding what a land survey does is especially vital when buying a home. What is a Land Survey? Geodetic Surveyors.

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Land Construction Title Due diligence 130

HomeLight

OCTOBER 5, 2020

The bank or mortgage company is the linchpin of a short sale. A short sale tends to be a much better alternative than a foreclosure — something that the bank, and everyone else, for that matter, wants to avoid. The buyer really just has one chance to submit an offer that will pass the bank’s standards for approval.

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Short sale Sales Banks Due diligence 75

Redfin

MARCH 14, 2022

If done correctly, this document will protect the seller from being held legally liable for any issues that may develop with the home in the future. Whether you’re about to purchase a new condo or sell your current home , there is a lot to learn and paperwork to sign. One of these critical documents is called a seller’s disclosure. .

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Purchase and sale agreement Due diligence Seller disclosure Inspection 68

Real Trends

JULY 28, 2022

Canadian buyers are taking a breath as they wait to see where prices will land as the market normalizes, according to the Engel & Völkers 2022 Mid-Year Canadian Luxury Real Estate Market Report , a residential property analysis covering the markets in Halifax, Montréal, Ottawa, Toronto, and Vancouver. The $1 to $3.99 million range saw a 68.7%

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Marketing Due diligence Land Banks 93

Redfin

DECEMBER 18, 2023

Notifying critical entities like IRS, state tax agencies, banks, credit card providers, employers, and insurance companies is also necessary. Congratulations on your new home! Successfully closing on a house in today’s market is an achievement worth celebrating. Because you never know who may have a set of keys to the existing lock.

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Inspection Due diligence Closing As-is 70

Realty Biz

FEBRUARY 24, 2021

This makes the land loan a risky loan for the bank. Finding that location and buying land to build a house is the first step in fulfilling this dream. . Paying for this lot with cash is the ideal scenario but with lot prices climbing into the hundreds of thousands of dollars range, most buyers will need a loan to purchase a lot.

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Land Loans MLS Finance 123

Realty Biz

SEPTEMBER 14, 2023

Lenders Lenders, such as banks or mortgage companies, may also engage real estate attorneys to represent their interests in a transaction. Their responsibilities vary depending on the buyer, seller, or lender involved, as well as state requirements and complexities of the transaction. Now, we will focus on buyers.

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Purchase and sale agreement Title search Title Due diligence 100

Housing Wire

DECEMBER 9, 2021

Investment bank Goldman Sachs , through its affiliate Goldman Sachs Mortgage Co., Michael Franco, CEO of SitusAMC , which provides due-diligence services to RMBS issuers, said market dynamics have played a major role in the dominance of jumbo-loan securitizations in the private-label market this year.

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Loans Due diligence Mortgages Residential 410

Housing Wire

JUNE 2, 2022

Morgan CEO Jamie Dimon is famously no fan of crypto, the bank dove into the enigmatic world of blockchain-based finance in 2020 with the launch of Onyx , a business unit devoted to exploring and expanding the use of blockchain technologies. . Even though J.P. It’s very hard to hack a blockchain.”. You don’t need it.”.

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Equity Due diligence Technology Investor 397

HomeLight

MAY 26, 2021

The Appraisal Institute , a global professional association of real estate appraisers, calls an appraisal “the act or process of developing an opinion of value.”. This due diligence protects the lender in case you default and they need to recover their costs. Now it’s all about preparing for your closing. A home appraisal: .

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Inspection Residential Due diligence Title search 103

Norada Real Estate

FEBRUARY 17, 2023

Real estate investment is a popular way for beginners to make money and build wealth. One important metric to consider when investing in real estate is the return on investment (ROI). How do you know if you are getting a good return on your real estate investment? These factors will be discussed in detail in the next section.

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Investor Finance Equity Renovation 65

Housing Wire

JANUARY 5, 2022

SitusAMC, a leading provider of services and technology to the real estate industry, controls some 60% to 70% of the due-diligence loan-review market, according to its CEO, Michael Franco. SitusAMC CEO Michael Franco. Franco added that to get that insurance benefit, loans would require a third-party review. “We

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Due diligence Marketing Loans Mortgages 394

HomeLight

APRIL 19, 2021

Hiring an attorney, which is a local convention in New York , eases the burden of buyer due diligence on an entire building’s amenities, including elevator updates and hot water service. One-bedroom apartments in co-ops can start at $700,000 in co-ops compared to $1.2 million in condos. Closing costs can range from 2.5%

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Earnest money deposit Due diligence Inspection Agents 67

Marco Santarelli

SEPTEMBER 6, 2020

Passive income is money that is usually (but not always) received regularly without any or only little effort. You either have to do much, in the beginning, to set up your passive income stream or/and you regularly have to invest at least a bit time, effort or money to maintain that income. It has renewed interest in passive income ideas.

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Lending Loans Investor Branding 135

HomeLight

JUNE 28, 2021

Due to the nature of how a home becomes a “HUD home,” purchasing one differs from the traditional homebuying process, and there are a few qualifications, special incentives, and risks that any savvy homebuyer should be aware of. Department of Housing and Urban Development , a government agency first created by President Lyndon B.

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Pre-approval Pre-qualification FHA loan Inspection 103

HomeLight

MAY 28, 2021

However, it’s vital to do your due diligence before buying a home as-is to protect yourself or you might just end up wasting your investment on a money pit. You think it’s almost too good to be true when you see one crucial caveat: It’s selling “as-is.” Red flags pop immediately into your head; you assume that can only be a nightmare.

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As-is Inspection Title search Inspection contingency 78

Marco Santarelli

FEBRUARY 18, 2023

For example, if a particular area is undergoing significant infrastructure development or regeneration, it may be an ideal time to invest, as property values could rise due to increased demand. When is It a Good Time to Buy an Investment Property? However, timing is a critical factor to consider when buying an investment property.

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Due diligence Investor Mortgages Finance 94

Marco Santarelli

SEPTEMBER 19, 2023

Understanding the Real Estate Market Before you start investing in real estate, it's crucial to develop a solid understanding of the market. Learning about the different types of properties available and the specific investment strategies relevant to each sector will help you develop a well-rounded real estate investing portfolio.

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Purchase and sale agreement Finance Due diligence Investor 52

HomeLight

AUGUST 16, 2021

This means that the homeowner stopped making payments on their mortgage, and the bank seized the property to recoup the funds. There are also tax auctions , wherein the IRS has seized a home due to unpaid property taxes and is now attempting to recover losses. Department of Housing and Urban Development (HUD) homes for sale portal.

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Title Due diligence Finance Inspection 109

HomeLight

MARCH 13, 2023

Looking for cash home buyers in Orlando? Perhaps your Metro West resort-style condo isn’t bringing in the revenue you expected as a vacation rental and you don’t want to invest more money to list it on the market. Need to Sell Your House Fast in Orlando? Receive your offer within a week and close in as little as 10 days. million people by 2030.

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Sales Investor Due diligence Renovation 93