Non-banks Are Still the Top Lenders … For Now

By the end of 2016, six of the nation’s top 10 lenders were non-banks, while banks contribution to new mortgage loans fell to 21 percent, according to The Washington Post. Meg Burns, managing director of the Collingwood Group told the paper, “The withdrawal of banks from the mortgage business is the result of the fundamental … More Non-banks Are Still the Top Lenders … For Now

Post-Foreclosure Stress Disorder: Barriers Keeping Buyers from Market Ds News Brian Gilpin

U.S. homeownership rates have been at a 50-year low despite improving local job markets and historically low mortgage rates. Research commissioned by the National Association of Realtors (NAR) said there are five main barriers preventing a large number of individuals from purchasing a home including post-foreclosure stress disorder, mortgage availability, the growing burden of student loan … More Post-Foreclosure Stress Disorder: Barriers Keeping Buyers from Market Ds News Brian Gilpin

Favorable Conditions For SFR Investment in Many Cities

A recent report released by the Florida Atlantic University College of Business indicates that it could be a good time to invest in rental properties as mortgage rates and home prices increase in major cities across the country. According to the Beracha, Hardin & Johnson Buy vs. Rent Index (BH&J),  18 out of 20 metro … More Favorable Conditions For SFR Investment in Many Cities

Growth in Home Prices Continues in March By Ester Fung

Home-price growth continued to accelerate in March, posing a challenge to the market, which already has seen the pace of sales slow because of rising prices and a shortage of inventory. The S&P CoreLogic Case-Shiller Indices, which covers the entire nation, rose 5.8% in the 12 months ended in March, up from a revised 5.7% … More Growth in Home Prices Continues in March By Ester Fung

New Professional Requirements, Tech Could Improve Appraisals By Aly Yale

The real estate appraisal process has long been bemoaned as slow, inefficient, and more advantageous to cash buyers, but according to appraisal experts at a recent Urban Institute Housing Finance Policy Center panel, there are ways to change that. Zach Dawson of Fannie Mae, Pete Carroll of Quicken Loans, David Bunton of The Appraisal Foundation, … More New Professional Requirements, Tech Could Improve Appraisals By Aly Yale

First-time Foreclosure Starts Hit All-time Low by Aly Yale

Both mortgage originations and foreclosures are in freefall, according to the recent Mortgage Monitor report released by Black Knight Financial Services on Monday. Overall originations dropped 34 percent over the first quarter of the year, while foreclosure starts hit a 12-year low of just 52,800. Though purchase loans and refinances took a hit during Q1, … More First-time Foreclosure Starts Hit All-time Low by Aly Yale

Mandatory E-Filing Comes to Illinois, Additional Rules and Amendments Anticipated

By Codilis & Associates, P.C. Mandatory electronic filing will be required by the Illinois Supreme Court and Appellate Courts effective July 1, 2017, and in all circuit courts effective January 1, 2018. Barring extensions to the mandate, once these deadlines pass, no paper documents will be allowed to be filed by attorneys or self-represented litigants, … More Mandatory E-Filing Comes to Illinois, Additional Rules and Amendments Anticipated

Mortgage Interest on the Decline for Second Straight Month

The Federal Housing Finance Agency (FHFA) has conducted its monthly interest rate survey for 4,437 loans closed during the last five business days in April across 17 lenders, and has reported a decline by over 10 basis points across in all mortgage interest rates. Interest rates have been falling since February 2017. The largest drop … More Mortgage Interest on the Decline for Second Straight Month

Help Sellers Choose Between Multiple Offers In a bidding war, help your sellers think about more than money. by Judith Crown

Juggling multiple offers is an enviable problem to have, but it isn’t always easy territory to navigate. For clients who think the highest bid is the default choice, it’s important to explain that price is just part of the calculation. Other factors include move-in timeline, potential appraisal and inspection contingencies, the amount of earnest money … More Help Sellers Choose Between Multiple Offers In a bidding war, help your sellers think about more than money. by Judith Crown