The holiday weekend is almost here! In anticipation of the backyard barbecue talk turning to housing questions from family and friends, here's what you need to be prepared:
Mortgage rates: They are still below 3%, no significant rise on the horizon. If anybody complains about the current 2.98%, try not to roll your eyes and refer to 1981, when the mortgage interest rate hit 16.63%.
Wild housing stat: An astonishing 580 homes in the Seattle metro area have sold for $300,000 or more above their asking prices this year. (Also, my son, who bought a house in Austin 2 years ago, just got offered double what he paid. Double!)
The state of the market: It may be starting to cool slightly. Agents are saying that open houses are a little less crowded, and they are seeing less offers. But it's all relative. As one story on the Denver area noted: "Whereas a popular listing might have attracted more than 100 showings and 15 to 20 serious offers earlier this year, now even a 'great property at an affordable price point' might see 30 to 40 showings and three to four offers."
Those cover letters people are writing to home sellers? They can be very effective, but may also be illegal.
Baby goats make everything better. Are your friends and family discouraged by the housing market? Fire up the videos of baby goats in pajamas to brighten their day.
Mortgage Cadence has been busy investing in building the best LOS on the market, while the competition focuses on acquiring ancillary service providers as their core technology ages... Learn More!
Title insurance provider First American Financial Corporation announced the acquisition of Texas-based Georgetown Title, a company more than 125 years old.
Servicers should be communicating with borrowers early, ensuring to do so in a compliant manner by staying abreast of the current and proposed regulations, CFPB or otherwise. Alert them that they do have the option to sell their house now while in forbearance if they wish as a forbearance exit option. Presented by Altisource
The decision to sell your servicing asset involves many variables including current interest rates, collateral type, portfolio size and much more. Learn how Servicers like Doorway Home Loans leveraged MCT's MSR Team to add 15bps of additional profitability on their bulk MSR sale. Read the case study.
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