Beware Hollywood Special Effects

Buyer Beware: Hollywood Special Effects Now Permeate Property Listings

Technology lets home sellers change photos to stage rooms with virtual furniture and perform HGTV-style makeovers

By

Ryan Dezember

Updated March 5, 2019 5:56 p.m. ET

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Mortgage originators seek new business

Carve Out a Niche to Secure Your Future

Mortgage originators need to explore unconventional areas to attract new business

In this business, it’s always better to deal with problems now than wait until later. A problem facing mortgage originators is figuring out where their future business will come.

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Fringe Borrowers

Fringe Borrowers Deserve Another Look

Passed-over clients could finally realize their homebuying dreams, but originators need to lead the way

Key Points

An ocean of potential borrowers awaits

  • Borrowers overestimate what they need to obtain a mortgage.
  • Many mortgage companies pass over fringe borrowers.
  • Internet lenders look for the less-difficult borrower.
  • Many borrowers qualify for government loans.
  • Originators need to educate themselves and their clients about these programs.

The age of the vanilla client took hold for the mortgage industry post-crash in 2008. Mortgage companies suddenly catered only to the top-of-the-line clients, the 720-FICO-score, full-doc, W-2 borrowers with plenty of assets.

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FICO and your credit

Close More Loans by Becoming a FICO Master

Understanding the factors that can improve a client’s credit score improves your value as a broker

FICO credit scores are used by most lenders to determine credit risk and the interest rate that borrowers will be charged. Your clients have three distinct FICO scores from each of the three credit bureaus — Experian, TransUnion and Equifax.

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Fannie Mae – small loan cap to $6 million

Fannie Mae increases multifamily small-loan cap to $6 million

Scotsman Guide

2/27/2019

 

Fannie Mae’s effective doubling of its multifamily small-balance loan cap was an independent decision, but one that certainly signals heightened competition in the rental-housing sector going forward.

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Millennial Mortgage Takeover Is Here

Millennials bucking stereotypes to claim their share of mortgages

Scotsman Guide

Feb 27, 2019  12:00 ET

Realtor.com’s recent report that millennials now top the mortgage market for dollar volume of loans originated confirmed something that many people knew was coming.

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Santa Barbara’s Coastal Vacation Rentals

Court Deals Blow to Santa Barbara’s Ban on Coastal Vacation Rentals

By Joshua Molina, Noozhawk Staff Writer | @JECMolina | February 23, 2019 | 8:05 p.m.

 

In a big blow to the City of Santa Barbara, a court has ruled that the city must again allow vacation rentals in the coastal zone.

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Millennials buying houses

Realtor.com

2/26/2019

It’s long been projected that Millennials are destined to dominate the housing market in upcoming years. Now, new data from Realtor.com reveals that it’s finally happening. Millennials are buying houses. Lots of them.

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HomeStreet Bank to sell Mortgage Business

 

Feb 15, 2019  14:20

Scotsman Guide

HomeStreet Bank plans to sell retail mortgage business

Citing “persistent challenges facing the mortgage banking industry,” HomeStreet Bank announced on Friday that it is planning to sell off its entire retail mortgage operation.

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Multi-Family Lending: Fannie Mae

 

Feb 15, 2019  12:05 

Scotsman Guide

Fannie Mae exec: Multifamily lending is in good shape

It continues to be a good time to be a commercial and multifamily loan originator, although 2019 production levels are expected to plateau, according to estimates from the Mortgage Bankers Association (MBA).

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