Tue.Nov 08, 2022

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GSEs set aside billions to cover home value declines

Housing Wire

Revenue and net income were both down for Fannie Mae and Freddie Mac in the third quarter, and the two government sponsored entities (GSEs) expect the housing market to deteriorate further in the fourth quarter. Collectively, the GSEs have set aside $4.3 billion in credit loss builds to account for a decline in home values in the fourth quarter, according to earnings reports from the housing finance giants.

Finance 370
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The Majority of Americans Still View Homeownership as the American Dream

Keeping Current Matters

Buying a home is a powerful decision, and it remains a key part of the American Dream.

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MeridianLink acquires mortgage fintech OpenClose for $65M

Housing Wire

Publicly traded lending software firm MeridianLink has acquired OpenClose , a fintech company that specializes in residential mortgage software solutions for banks, credit unions and mortgage lenders. In a statement filed with the Securities and Exchange Commission , MeridianLink said it would pay $65 million in cash to buy the Florida-based company.

Mortgages 414
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Canadian Real Estate Prices Are The Fastest Falling In The G7, US Gets Frothier

Better Dwelling

Canadian real estate prices went from the fastest growing to the fastest falling in just a few rate hikes. The US Federal Reserve Bank of Dallas (Dallas Fed) Q2 2022 index of real home prices shows Canada made the biggest drop in the G7. Still, Canada retained gains making it the largest real estate bubble […]. The post Canadian Real Estate Prices Are The Fastest Falling In The G7, US Gets Frothier appeared first on Better Dwelling.

Banks 138
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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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Flagstar’s $2.6B merger with NYCB receives Fed blessing

Housing Wire

The Federal Reserve has given the green light for the proposed merger between Flagstar Bank and New York Community Bank to go through, about 19 months after the deal was agreed to. The $2.6 billion merger deal, which was first announced in April 2021, is now expected to close on Dec. 1. The Office of the Comptroller of the Currency approved the merger in late October.

Banks 370

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Radian joins ranks of companies doing layoffs

Housing Wire

Mortgage insurer Radian Group Inc. announced it will lay off 166 employees, effective Dec. 1 from two of its offices in Pennsylvania. Out of these workers, 66 employees are from Radian’s Delaware County headquarters and 100 are from the Allegheny County office. The company employed 1,800 people at the end of 2021. Radian has joined the many mortgage and real estate companies who have laid off employees to cope with a volatile market due to the Federal Reserve’s rate hikes, among other factors.

Mortgages 370
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Buyers May Have More Power Than They Realize Right Now—Here’s Why

Realtor.com

Getty Images Doom and gloom might be dominating real estate headlines these days, and many would-be homebuyers are feeling hopeless about their chances of getting a good deal in the wake of mortgage rate hikes, low housing inventory, and elevated home prices. There’s no denying that the cost of buying a house has risen, but if you dig into the data, you’ll find that many homebuyers might actually be in the driver’s seat right now.

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LodeStar partners with LendingPad

Housing Wire

LodeStar Software Solutions, a provider of compliance tools for mortgage lenders, has partnered with loan origination system and software provider LendingPad, it announced on Tuesday. The aim of the partnership is to introduce LodeStar Discovery, a closing fee calculator, to mortgage loan originators using the LendingPad platform. LodeStar Discovery provides access to title and closing fees across the U.S. and can help users generate quotes and estimates on LendingPad as part of an integrated ex

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5 technology trends agents and brokers should embrace in 2023

Real Trends

Over the past 12 months, real estate professionals have faced significant market disruption and increased competition. Meanwhile, real estate tech innovation exploded, prompting strategic agents to learn how to leverage for the benefit of their business in 2023 and adjust their strategies to better meet the needs of increasingly savvy home buyers and sellers.

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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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MCT taps Jennifer Kennelly for investor services team

Housing Wire

Mortgage Capital Trading (MCT) announced the appointment of Jennifer Kennelly as the new senior director of its investor services team. Kennelly’s professional career spans more than 25 years, including roles as national sales executive at LoanCare, capital markets director at Lenders One Mortgage Cooperative, managing director at Compass Analytics and positions at Freddie Mac.

Investor 370
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Top 5 reasons home staging is making a comeback

Real Trends

It’s probably been a while since you orchestrated a house staging for your sellers. When the market was moving hot and fast last year, it just wasn’t as necessary to stage a home. But now , home staging could make all the difference in attracting potential buyers and signing on the dotted line. If you need a refresher, or you aren’t sold on the necessity of the process, we’ve compiled a list of the top five reasons that you should recommend home staging to your sellers.

Staging 111
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How to Get Buyers Through Email Marketing Strategy

Realty Biz

Online marketing takes many forms. From paid search advertising to social media marketing and beyond, there are dozens of different techniques you can use to lead prospects through your sales funnels and convert them into buyers. One of the most effective methods is by leveraging email. Here’s what you should know about what strategies you need to employ to get buyers through email marketing.

Marketing 108
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Fathom Realty raises fees on agents

Real Trends

The parent of flat fee real estate brokerage and technology platform Fathom Realty plans to raise transaction fees by 10% when the calendar turns to 2023. Fathom Holdings this week told investors that while revenue grew 10.2% in the third quarter to $111.3 million, it lost $6 million. To get in the red, the company, the parent of Fathom Realty, plans to raise fees on agents and cut expenses.

Agents 107
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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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Revolving Debt Surges as Credit Card Rates Hit 18-Year High

Eye on Housing

According to the Federal Reserve’s latest G.19 Consumer Credit report, consumer credit (ex-real estate) grew at a seasonal adjusted annual rate (SAAR) of 6.8% in the third quarter of 2022. Revolving debt increased at a 12.9% rate, more than double the pace of nonrevolving debt (+4.9%). Credit card interest rates reached 16.3%, the highest level since the inception of the.

Loans 113
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Inside a San Francisco Landmark

Sotheby's International Real Estate

Owning a historic property offers a unique opportunity for an individual to act as a steward of a city’s and nation’s history and to interpret and share that heritage. This early-20th-century landmark in the prestigious San Francisco neighborhood of Pacific Heights affords just such a valued opportunity. Immediately captivating from any vantage point within eyeshot, the striking Tudor Gothic manor has a provenance deeply rooted in the life of “the City by the Bay.

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Cool listings: Newly-built house in affluent Washington, DC suburb wows with its clean lines, modern design

Fancy Pants Homes

A distinctly modern, newly built home in the affluent Washington D.C. suburb of Oakton, Virginia, has recently hit the market for $6,480,000. And it’s a beauty! Completed in 2022, the massive 15,000-square-foot home blends contemporary European architecture with ultra-luxurious finishes, and the end result is a strikingly modern home with a clean, eye-grabbing design — both inside and out.

Design 98
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What Is a Closing Disclosure Form? A New Mortgage Document Home Buyers Must Check

Realtor.com

iStock A closing disclosure is a form outlining the terms and costs of your mortgage—and one of the most important pieces of paperwork to check before you close on a home. Lenders must provide borrowers with a closing disclosure (also called a CD) at least three business days before closing—that day when all the remaining paperwork is signed and you get the keys to your new home.

Closing 98
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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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10 Sneaky Real Estate Scams + How to Protect Your Clients (& Yourself)

The Close

Real estate scams cost buyers, sellers, property owners, renters, and real estate professionals upward of a billion dollars every year. And that’s not even the worst of it. Scammers are becoming increasingly sophisticated, harder to catch, and the financial losses caused by real estate scams perpetrated by these criminals are extremely difficult to recover.

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What Is French Country Style? 5 Ideas to Try in Your Home

Realtor.com

Roger Stowell/Getty Images French country style is all about wrought iron, exposed beams, painted furniture, and other decorating designs rooted right where you’d expect—in the French countryside, specifically Provence. While this style has existed for centuries in France, it took off in the United States in the mid-20th century, thanks to two influencers: the French company Pierre Deux, and former first lady Jacqueline Kennedy. “Mrs.

Design 98
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7 Simple Upgrades That Will Add Value to Your Home

Realty Biz

The average American home hit a record high of $400,000 in May of this year. There are numerous factors that determine your home value when you decide to sell - size, location, age, etc. If you’re looking to sell for the highest possible price, you may have to take matters into your own hands with some renovations. An updated home with new features is always going to fetch more on the open market.

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Ikea Cabinet Hack Firm, Copenhagen’s Reform, Moves Showroom to Dumbo From Navy Yard

Brownstoner

Copenhagen-based Reform has moved from the Navy Yard to Dumbo. Still a work in progress, the showroom at 45 Main Street has its official opening party Thursday. The company, which makes fronts for Ikea kitchens, briefly operated out of another address down the street before opening at the new location over… Read More > The post Ikea Cabinet Hack Firm, Copenhagen’s Reform, Moves Showroom to Dumbo From Navy Yard appeared first on Brownstoner.

Design 85
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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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The Advantages And Disadvantages Of New Construction Homes

Realty Biz

New construction homes are becoming increasingly popular. They offer many advantages, such as the ability to customize your home to your specific needs and wants, and the peace of mind that comes with knowing your home is brand new. However, new construction homes also have some disadvantages, such as the potential for construction delays and the added cost of upgrades and customization.

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More on 2023 Pricing

BubbleInfo

A benefit of prices going up so fast in early 2022 was that future sellers may not have noticed – and they might be happy to sell for 2021 prices next year. But there are other items that will complicate the matter: With sales are down as much as 50%, the evidence used to determine […].

Sales 81
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The Middle Class Wealth Boom Is Over—According To Bloomberg

Bigger Pockets

Many Americans dream of a middle-class lifestyle, which has looked even rosier over the past five years. A bullish stock market characterized the period before the pandemic, and record-breaking increases in housing […].

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Brooklyn Heights Prewar on Top Floor With Sleek Kitchen, Dishwasher Asks $550K

Brownstoner

Although no one would call it capacious, this one-bedroom apartment has elegant prewar details, a modern minimalist kitchen and low monthly maintenance. It's located on the top floor of 59 Pineapple Street, a six-story, 40-unit elevator building in the Brooklyn Heights Historic District. Built in 1926 and designed by Slee… Read More > The post Brooklyn Heights Prewar on Top Floor With Sleek Kitchen, Dishwasher Asks $550K appeared first on Brownstoner.

Design 75
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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.