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Investing in art can add diversification to a portfolio if you’re ready to move beyond traditional stocks and bonds. Alternative investments like art can offer above-average returns and offset some of the impacts of market volatility.

Art investment has traditionally had a higher barrier to entry, as individual works of art may carry five and six-figure prices (or more). In addition, there are a number of risk factors when investing in art, including lack of liquidity and lack of transparency around pricing.

However, new ways to invest in art have emerged that make it a more accessible asset class to a broader range of investors.

What Is Art Investing?

Art investing refers to the purchase of works of art to sell them at a profit at a later date. Apart from owning individual artworks (which can be expensive and difficult to maintain), there are a range of new ways to invest in art, including:

•   Fractional share investing through online art platforms

•   Art funds

•   Art stocks

•   Non-fungible tokens (NFTs)

Buying art as an investment doesn’t require you to have an advanced art degree or professional background in the art world. You will, however, need to be willing to spend some time learning about this alternative investment to understand how the market works.1

How Art Investing Works

Investing in art requires a certain mindset, and doing your due diligence to size up what constitutes the best opportunities for you, depending on your goals.

Art, like other alternative investments, may require a much longer holding period for you to realize returns, which contributes to the lack of liquidity in this space. It may be challenging to find a buyer if the artwork or the artist is not in demand.

It’s also important to understand traditional art ownership, along with some of the newer investment vehicles.

Individual Works

Similar to investing in a traditional asset class like stocks, investing in individual works requires knowing some fundamentals: a history of the artist, their status (e.g., are they in demand?), the relevance of a given work, and a sense of whether it’s overvalued or undervalued.

The risks of choosing individual works include the possibility of fraud, the cost of maintaining the work (e.g., storage and insurance), and hidden charges, similar to investment fees (e.g., commissions and other costs). Given the fragility of most art, there is also the risk of physical damage or total loss.

Fractional Shares of Art

Owing to the high cost of owning blue-chip works of art (as well as other highly valued works) it’s now possible to buy fractional shares of art, similar to investing in fractional shares of stock.

There are a number of new platforms that sell fractional art shares, and each may have its own system and process (more below).

The risk of buying fractional shares of art is that, as with any investment, there are no guarantees of a return.

Art Funds

Similar to traditional mutual funds and ETFs, an art fund is a type of pooled investment fund. But unlike conventional equity funds, say, that hold many different stocks, art funds often hold only a handful of works. Investors who buy shares of the fund are buying into the collective, potential value of those works.

Art funds are generally structured as closed-end funds, but with a twist: investors typically contribute their capital over a period of three to five years, often with no returns for another specified time period (terms vary).

These funds are highly illiquid, and (in addition to the unpredictability of the art market itself) there are substantial risks to locking up your capital for what could be years, for an unspecified return upon redemption.

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Types of Artists

There are generally three types of artists you may invest in:

•   Blue-chip artists: Blue-chip artists are individuals everyone has most likely heard of. Names like Van Gogh, Picasso, and Banksy are familiar to people both within and outside the art world.

Works from these artists typically carry the least risk because there’s always someone willing to buy them. The downside is that the average investor may not have sufficient capital to purchase individual blue-chip artworks since they can cost hundreds of thousands, if not millions, of dollars.

•   Established artists: Established artists are known artists whose works typically command higher prices, but have not yet reached blue-chip status. Investing in art from established artists can offer solid return potential with a moderate degree of risk.

•   Emerging artists: Emerging artists present the greatest risk since they’re still up and coming. However, you might be able to generate a sizable profit from investing in their art if their career takes off.3

Risks and Returns of Investing in Art

Investing in alternatives such as art carries risks that are similar to other alternative investments, like commodities, real estate, collectibles, and other assets. Investors who are willing to accept a higher degree of risk, however, may enjoy a substantial upside.

Here’s a side-by-side look at the pros and cons of investing in art.

Rewards Risks
Art investment offers the potential for higher returns.

Art can add diversification to a portfolio, allowing you to better manage market volatility and the impacts of inflation.

Investing in art can help you grow wealth while allowing you to support your favorite artists and contribute something to the art community.

A significant amount of capital is not necessarily required to begin investing in art.

Interest in art has persisted for hundreds of years, making it a reliable investment option for the longer term.

An investment in art is not guaranteed to be profitable.

Certain types of art investments offer limited liquidity, which could make it difficult to exit quickly.

Valuing artworks is often highly subjective, which could make it difficult for a beginning investor to determine what a piece is truly worth.

Owning individual artworks may entail paying maintenance and storage fees, as well as insurance.

Forgeries and fakes are a real part of the art world investors must contend with.

If you’re trying to decide whether to invest in art, consider your personal risk tolerance and investment horizon.

Dive deeper: Why Invest in Alternative Investments?

5 Ways to Start Investing in Art

When deciding how to invest in art, it’s important to remember that you’re not locked into any single path. You might choose multiple investment strategies to build out your art portfolio.

With that in mind, here are some of the best ways for beginners to start investing.

1. Fractional Art Shares

Fractional art share investing is a relatively new phenomenon. It works like this:

•   You join an art investment marketplace.

•   The marketplace vets works of art and lists them for investment.

•   You buy fractional shares of individual works of art.

•   When the artwork sells you get a piece of the profits.

Typically, you invest a minimum amount to buy a certain number of shares of a work you believe will appreciate. So you might hold 30 shares of a Basquiat piece and 20 shares of a Warhol.

The platform purchases and maintains the art; you don’t actually see or handle it. If it appreciates within a set period of time, the piece will be sold and profits will be distributed proportionately to each investor’s ownership amount.

The downside is that you might need $10,000 or more to get started on a fractional share marketplace. Additionally, you don’t get to choose when the artwork sells — that’s determined by the platform.

While trading fractional shares isn’t available on public exchanges yet, some fractional art platforms operate a secondary market whereby shareholders can execute trades.

2. Art Funds

Art investment funds are typically privately managed funds that offer investors exposure to multiple works. In that sense, they’re similar to traditional mutual funds.

Some art funds are index funds, meaning they seek to replicate the returns of an art market index, similar to a traditional index like the S&P 500. Other art funds are equity funds that try to beat the market.

If you’re considering art funds, check the minimum investment to get started. Certain funds may be limited to accredited investors, or require you to have $20,000 or more to purchase shares.

Also, consider the fund’s expense ratio, which determines your cost of owning it yearly.

3. Art Stocks

Art stocks offer a slightly different way to invest in art. Rather than funding individual artworks, you might invest in publicly traded companies that:

•   Manufacture art supplies

•   Handle art restoration

•   Sell art insurance

•   Produce art prints

•   Create digital art software programs or applications

•   Create software or apps used by museums

This type of art investment is more tangential, but may be worth a look if you’re interested in the art world in its entirety, not just individual paintings or sculptures.

Similar to investing in art funds, consider the minimum investment required to buy shares. And study the stock’s past performance and risks to fully understand what you’re buying.

4. Non-Fungible Tokens (NFTs)

Non-fungible tokens or NFTs are digitized versions of various works, including art. NFTs and their owners are recorded on the blockchain so they can’t be duplicated or reproduced.

If you’re weighing NFTs, carefully consider the risks as well as the amount you plan to invest. A good rule of thumb for this type of investment may be to limit yourself only to what you can afford to lose.

5. Individual Works of Art

You might invest in art by purchasing individual pieces. Again, you may choose from blue-chip, established, or emerging artists.

The advantage is that you can decide when to sell and you’re not necessarily locked in for decades. Art flipping, a controversial practice in art circles, involves buying works of art and selling them quickly for a profit. It’s similar to house flipping, another type of alternative investment.

If you’re interested in buying individual pieces, you might buy them from:

•   Galleries

•   Private dealers

•   Art auctions

Purchasing directly from the artist may also be an option, though this may require some negotiation to decide on a price.

Before buying a piece of art, consider the ongoing costs of ownership. For example, you may need to pay to have it professionally stored to avoid damage to the work. And depending on its value you may need to buy insurance for your investment.

The Takeaway

Art and other alternative investments can help you create a well-rounded portfolio. The important thing to remember is that art is an alternative investment, with specific risks and potential advantages. While you could make a profit with art investments, you could also lose money, so it’s wise to assess the risks before wading in.

Ready to expand your portfolio’s growth potential? Alternative investments, traditionally available to high-net-worth individuals, are accessible to everyday investors on SoFi’s easy-to-use platform. Investments in commodities, real estate, venture capital, and more are now within reach. Alternative investments can be high risk, so it’s important to consider your portfolio goals and risk tolerance to determine if they’re right for you.

Invest in alts to take your portfolio beyond stocks and bonds.

FAQ

Is art a good investment?

Art can be a good investment for people who have sufficient means to invest and are comfortable with the various risks. It’s possible to realize higher returns from art investments compared to stocks or bonds, but it typically requires a longer holding period. Reduced liquidity can make art a less attractive investment for people who are looking for near-term gains.

How do you start investing in art?

You can start investing in art by deciding which strategy you’d like to pursue. Do you like the idea of owning fractional shares, or share in an art fund? Would you prefer to buy stock in art-related companies? Or do you feel confident in your taste, and budget, as a collector to purchase individual works? Be sure to vet your all-in costs, how long your money might be locked up, and whether there are risks with one choice versus another.

Why do millionaires invest in art?

Millionaires may invest in art for different reasons, ranging from a desire for higher returns to a passion for art as a collectible. As alternative investments go, art can be profitable, though it does take some knowledge of the market to assess which pieces are most likely to see the greatest appreciation.

Photo credit: iStock/Antonio_Diaz

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Alternative investments, including funds that invest in alternative investments, are risky and may not be suitable for all investors. Alternative investments often employ leveraging and other speculative practices that increase an investor’s risk of loss to include complete loss of investment, often charge high fees, and can be highly illiquid and volatile. Alternative investments may lack diversification, involve complex tax structures and have delays in reporting important tax information. Registered and unregistered alternative investments are not subject to the same regulatory requirements as mutual funds.
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Shares of ETFs must be bought and sold at market price, which can vary significantly from the Fund’s net asset value (NAV). Investment returns are subject to market volatility and shares may be worth more or less their original value when redeemed. The diversification of an ETF will not protect against loss. An ETF may not achieve its stated investment objective. Rebalancing and other activities within the fund may be subject to tax consequences.

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If you invest in Exchange Traded Funds (ETFs) through SoFi Invest (either by buying them yourself or via investing in SoFi Invest’s automated investments, formerly SoFi Wealth), these funds will have their own management fees. These fees are not paid directly by you, but rather by the fund itself. these fees do reduce the fund’s returns. Check out each fund’s prospectus for details. SoFi Invest does not receive sales commissions, 12b-1 fees, or other fees from ETFs for investing such funds on behalf of advisory clients, though if SoFi Invest creates its own funds, it could earn management fees there.

SoFi Invest may waive all, or part of any of these fees, permanently or for a period of time, at its sole discretion for any reason. Fees are subject to change at any time. The current fee schedule will always be available in your Account Documents section of SoFi Invest.

Investment Risk: Diversification can help reduce some investment risk. It cannot guarantee profit, or fully protect in a down market.

Disclaimer: The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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Borrower Outreach, Subservicer Oversight, AVM Products; Agency News… Freddie’s Limited Foray Into 2nds

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Borrower Outreach, Subservicer Oversight, AVM Products; Agency News… Freddie’s Limited Foray Into 2nds

By:
Rob Chrisman

Wed, Jun 26 2024, 11:25 AM

“Don’t waste a good crisis.” Continuing data breaches constitute a crisis, the latest example being LendingTree Inc., cloud-based data analytics firm Snowflake Inc., and MBS loan-level data. Headlines that talk about a “crisis” or something “plummeting” in price should be viewed skeptically, regardless of the topic. Here’s “Home Prices are Falling Fast.” Really? I say, much ado about nothing. Dropping 1-2 percent… really… plummeting? Are people jumping out of windows? How about looking at those markets like Austin over the last 10 years: Most were bound to take a breather after getting ahead of themselves. There is something that has garnered a lot of headlines in recent weeks, and that is the FHFA authorizing a pilot program for Freddie Mac to buy as much as $2.5 billion in second mortgages over 18 months, a shift that could ultimately make it cheaper for households to borrow against the equity in their homes. There are those, however, who say that this is much ado about nothing: more below. Today’s podcast is found here and this week’s is sponsored by Candor. Candor’s authentic Expert System AI has powered more than 2 million flawless, hands off underwrites. Every credit risk decision Candor makes is backed by a warranty, eliminating repurchase worries. Hear an interview with Blue Sage’s Carmine Cacciavillani on his nearly four decades in the mortgage industry as a solutions provider creating complex software-based business solutions.

Software, Products, and Services for Lenders and Brokers

When generating non-QM loans, traditional marketing efforts simply don’t cut it anymore. A 3 percent click-through rate on your email campaigns might be the norm, but it won’t give your salespeople the necessary conversations. Privy offers something different, something better. A branded real estate search and investing platform. Privy lets lenders automate borrower acquisition and retention. You become present at every step of a borrower’s transaction, from when they are just browsing to when they are ready to close. You are just a button click away. Provide your existing borrowers with the technology to close more investment deals while you close more loans. Contact Brad Bieber to learn more about Privy’s Lender Enterprise Solutions.

Despite some positivity in the housing market, pressure persists among mortgage lenders. The Mortgage Bankers Association forecasts single-family mortgage originations to grow to $1.8T in 2024, driven by increased purchase demand and equity take-out products, while Goldman Sachs predicts a 16 percent increase in the non-agency market amidst a 1 percent decline in agency mortgage production. Given this, Verus Mortgage Capital, the leading non-agency investor, believes there is no better time for lenders to expand their footprints and offer non-QM mortgages. Check out the five key insights Verus shares about non-agency lending in its recent blog post here. And to learn more about the non-QM opportunity, contact Jeff Schaefer, EVP – National Sales (202-534-1821).

Ask yourself this question: when evaluating the current market value of a subject property, are you using the best AVM on the market? We understand that when making critical business decisions, accuracy and details matter. That’s why we’re highlighting First American Data& Analytics and its Procision AVM to have your back. Its Procision AVM updates and tests the subject property values daily to maintain performance on every residential property in the U.S. every day. And the best part? First American’s AVM is designed for your specific business need – so you get the best results and highest satisfaction. But don’t just take our word for it: The data speaks for itself. As a nationwide, single-source data provider, First American Data & Analytics will fuel your biggest ideas so you can focus on growing your bottom line. That’s big stuff. Learn more about the Procision AVM.

The “housing theory of everything” is a concept equating the housing shortage in the United States to a broad range of societal problems like substance abuse, unemployment, domestic violence and disease. The idea is that when people live in safe, affordable housing they are more secure, less stressed and more employable. Those steady incomes and stable minds would, in turn, positively impact families and communities. In the latest Spotlight podcast from Dark Matter Technologies, Kyla Scanlon, who coined the term vibecession (when people have a more negative perception of the economy than what economic data suggests) and author of “In This Economy? How Money and Markets Really Work” joins Wes Hortabuck for a wide-ranging discussion of consumer perceptions, the “missing middle” in housing stock, and how providing more affordable housing could positively impact people’s lives and the broader economy. Take a few minutes and listen to the episode today!

“Is a standing call with your servicer enough when it comes to proper oversight? Is there a specified cadence for how often a lender should be meeting with their servicer? Ultimately, it is your responsibility to oversee your subservicer, so you must understand what is expected of you and the key actions you need to take to maintain oversight and comply with regulations. Tune in to this video where the experts at Richey May answer the most frequently asked questions about subservicer oversight requirements. Whether you’re considering leveraging a subservicer or navigating the general complexities of oversight, Richey May’s mortgage compliance experts can help. Contact us today for more information.”

“In today’s competitive purchase market, the lenders who stand out are providing excellent, personalized and consistent communication. This approach is key to attracting new business, keeping your current borrowers happy and retaining clients for life. In our new blog, we’re sharing how ICE Surefire can help you streamline and improve your borrower outreach even further, so you’re prepared to thrive in today’s competitive purchase market. And by leveraging both Surefire and Encompass®, you’re able to deliver targeted content to the right contacts at the right moment. Read the full blog to gain all the insights.”

Agency News: Freddie Mac’s New Program?

The Federal Housing Finance Agency (FHFA) announced its conditional approval for Freddie Mac to engage in a limited pilot to purchase certain single-family closed-end second mortgages. This conditional approval follows FHFA’s first publication of a proposed new product by either Freddie Mac or Fannie Mae (the Enterprises) for public comment under the new process mandated by the Prior Approval for Enterprise Products regulation, which became effective in April 2023. In an accompanying statement, Director Sandra Thompson further discussed FHFA’s analysis of the statutorily required criteria of Charter Act compliance, public interest, and safety and soundness. Upon the pilot’s conclusion, FHFA will analyze the data on Freddie Mac’s purchases of second mortgages to determine whether the objectives of the pilot were met. FHFA has determined that any increase to the volume or extension of the duration of the pilot, or a conversion of the pilot to a programmatic activity, would be treated as a new product that is subject to public notice and comment and FHFA approval. Any subsequent approval would be informed by the preliminary results of the pilot.

Seth Appleton, President of U.S. Mortgage Insurers (USMI), issued a statement on the Federal Housing Finance Agency’s (FHFA) decision to conditionally approve the proposed “Freddie Mac Single-Family Closed-End Second Mortgages” product as a limited pilot, pursuant to the Prior Approval for Enterprise Products Final Rule. In its comment letter, USMI raised certain aspects in urging FHFA to disapprove this proposed product and have Freddie Mac focus its efforts and resources on helping borrowers achieve homeownership.

In a press statement, MBA President and CEO Bob Broeksmit, CMB, responded to FHFA’s conditional approval of new product proposal allowing Freddie Mac to purchase certain closed-end second mortgages.

Compass Research and Trading was quick to point out that, “The FHFA would not have published the new product proposal for FMCC’s HEL product if it was not predisposed to approve it. Over 85 percent of the comment letters opposed the proposal, which included over 250 form letters in opposition. However, it did receive support from the National Fair Housing Alliance, Urban Institute, Community Home Lenders of America, and three credit union associations. Bank trade associations largely opposed the product, as did market trade associations.

Ed Groshans wrote, “We estimated that the potential tappable equity in Freddie’s portfolio to be $700 billion to $1.2 trillion. The FHFA addressed crowding out concerns by authorizing a pilot program for Freddie and limiting its HEL purchases to $2.5 billion. Our assessment is that the pilot program will have a negligible impact on consumer lenders. In addition, the FHFA capped the duration of the pilot at 18 months.

“Notably, the FHFA stated that any extension of the pilot or a conversion of the pilot to a programmatic activity would subject to another new product approval review. These limitations place the fate of any GSE HEL products in the outcome of the November election. We expect a Trump administration to cease the product on safety and soundness concerns, while a Biden administration could approve a larger scale product.”

The FHFA Director’s statement noted that the product is authorized by Freddie’s charter, in the public interest, and consistent with the safety and soundness of Freddie Mac or the mortgage finance system. The public interest section addressed crowding out. Sandra Thompson said that limitation on purchases and duration were in response to comments received and “intended to mitigate any concerns about potential inflationary impacts, extending the mortgage “lock-in” effect, or the “crowding out” of private capital.”

Switching gears to other updates…

Uniform Loan Delivery Dataset (ULDD) Phase 4a is implemented and the Phase 5 transition (optional delivery) has begun. Freddie Mac continues to enhance Loan Selling Advisor®. Sharing information about the customer test environment (CTE) for ULDD, plus additional news to help clients: Freddie Mac’s website.

Freddie Mac posted information on the new and updated UAD Redesign Documentation. The Uniform Appraisal Dataset (UAD) and Forms Redesign team has announced the release of additional documentation and updated one existing document to support ongoing implementation efforts. Fannie Mae’s Uniform Appraisal Dataset (UAD) and Forms Redesign team has released additional documentation and updated one existing document to support ongoing implementation efforts. These resources supplement prior documentation originally published in 2023 and subsequent releases throughout 2023 and 2024.

The publication of VantageScore® 4.0 historical credit scores is coming on July 10. For more information and to register for the session, visit Fannie Mae’s credit score models and reports initiative page.

Fannie Mae has approved the acquisition of Republic Mortgage Insurance Company and Republic Mortgage Insurance Company of North Carolina and its affiliates (RMIC) by Arch U.S. MI Holdings, Inc., a subsidiary of Arch Capital Group Ltd. RMIC is now an affiliate of our approved mortgage insurers Arch Mortgage Insurance Company and United Guaranty Residential Insurance Company.

In the July Loan Product Advisor® (LPASM) release, Freddie Mac describes implementation of revised feedback messages related to the annual transition of LPA specification versions. Also included are reminders about collateral representation and warranty relief feedback messages and trended data.

As explained in Fannie Mae Release Notes, The Desktop Underwriter® (DU®) validation service will be updated the weekend of August 17 with enhancements intended to improve asset validation. Updates include asset validation up to the total balance of liquid accounts, consideration of net equity, evaluating assets when reported assets are not sufficient to cover closing costs, and more. View the integration impact memo for additional information.

At the Mortgage Industry Standards Maintenance Organization® (MISMO®) Summit, Fannie Mae shared significant progress on developing the Loan Boarding Data component of the Industry Transfer of Servicing Dataset. Help finalize both datasets by participating in the MISMO Servicing Transfers Development Workgroup.

Beginning July 1, all servicers can access the Liquidation Reconciliation Third Party Sales (TPS) application within Property 360™, which provides a simplified process for managing TPS cases from initial case creation to sale reconciliation. Servicers must onboard the application by no later than August 31. Details are available in the Fannie Mae release notes.

FHFA issued a Request for Input (RFI) on opportunities to improve the Federal Home Loan Banks’ (FHLBanks) processes for members and project sponsors to apply for Affordable Housing Program (AHP) funding. During FHFA’s FHLBank System at 100: Focusing on the Future review, many stakeholders encouraged FHFA to improve the efficiency of the application process. FHFA is seeking input on potential opportunities to improve the application process for the AHP competitive application programs. Each FHLBank develops user or reference guides and resources to assist FHLBank members and project sponsors apply for AHP competitive application funding. FHFA is providing these resources to assist stakeholders in providing feedback on the FHLBanks’ AHP competitive applications.

FHFA released its first quarter 2024 Foreclosure Prevention and Refinance Report. Fannie Mae and Freddie Mac (the Enterprises) completed 52,154 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped to nearly 7 million since the start of conservatorships in September 2008. FHFA’s quarterly foreclosure prevention and refinance reports include data on the Enterprises’ mortgage performance, delinquencies, and active forbearance plans, as well as forfeiture actions and refinances by state. The data included in these reports are also available on FHFA’s website as an interactive Borrower Assistance Map.

Capital Markets

There were a few miscellaneous data points yesterday, none of which did much to change the overarching narrative that the U.S. economy is beginning to slow, and none of which had much effect on bond movement. Consumer Confidence edged modestly lower in June, demonstrating a hesitant, but not overly concerned, consumer. On the housing front, the FHFA Housing Price Index was up 0.2 percent month-over-month in April after increasing 0.1 percent in March, while the S&P Case-Shiller Home Price Index was up 7.2 percent year-over-year in April, slightly more than expected. Home prices continue to rise despite 30-year mortgage rates hovering around 7 percent as people are becoming used to rates at these levels.

Security pricing is largely a matter of supply and demand, and the U.S. Treasury kicked off this week’s quarterly refunding note auction slate with a solid sale of $69 billion in 2-year notes.

Mortgage applications from MBA kicked off today’s calendar, increasing 0.8 percent from one week earlier. This week’s results include an adjustment for the Juneteenth holiday. We learned last week that the Mortgage Bankers Association’s refinance index surged 28 percent in the latest release and is now at its highest level since the fall of 2022. This is a good sign that new mortgages are slowly replacing the record-low lending rates from the beginning of the pandemic. One year ago, 30-year conventional and Ginnie Mae mortgage bonds with 1.5 percent through 2.5 percent coupons made up 42 percent of the U.S. MBS index, but that figure has now dropped to 37.3 percent. Still, most mortgages remain out of the money, most by over 300 basis points.

Later today brings New Home Sales for May and several Treasury auctions that will be headlined by $28 billion reopened 2-year FRNs and $70 billion 5-year notes. We begin Hump Day with Agency MBS prices slightly worse than Tuesday’s close, the 10-year yielding 4.29 after closing yesterday at 4.24 percent, and the 2-year at 4.73.

Jobs

JMAC Lending is pleased to announce the addition of mortgage-industry leader Sabrina Lopez as Regional Vice President – TPO West. Sabrina brings more than 20 years of strategic leadership experience to JMAC. In her role, Sabrina will grow and scale a team of Sr. Account Executives throughout the company’s western region. “We want to empower our AEs to grow their business in this market,” JMAC’s President Christina Pham said. “Sabrina has a demonstrated record of success helping Account Executives become top producers in their markets. Her seasoned mortgage background, industry knowledge and relationship-driven mindset will be an essential component to JMAC’s continued growth and strategy. With Eric Yang as EVP of TPO and Bob Bordenet as Regional Vice President – TPO East, we are stronger than ever and well-positioned to take our team and business to the next level.” Elevate your lending capabilities this summer with your single source for solutions. Visit here and follow JMAC on LinkedIn, and contact Sabrina Lopez direct for Account Executive opportunities.

“Highlands Residential Mortgage is proud to announce that we have been ranked #1 by Experience.com for 2023 in their annual Top Performers in the Mortgage Industry rankings! This accolade is especially meaningful to us as it reflects the outstanding experiences and overall satisfaction of our customers and business colleagues. Brian Bennett, President of Highlands, shared, “While every award is a source of pride for us, being recognized in the #1 spot for 2023 is an incredible achievement for the Highlands team. It underscores how deeply our customers trust us and is truly a testament to our outstanding people that go above and beyond every day to provide a world class home financing experience. We are genuinely grateful for the recognition and will continue to serve all of our communities across the country at the highest level.” To learn more about the Highlands experience, reach out to Corey Caster, EVP-Chief Production Officer.”

Xactus announced today that Joseph Peterson has been named Chief Financial Officer.

(Remember: employers can view posted resumes for several months for a nominal charge and job seekers can post their resumes for free on www.lendernews.com.)

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Source: mortgagenewsdaily.com

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HELOC, Live Pricing Data, VOIE Tools; LO Survey, Webinars and Training

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HELOC, Live Pricing Data, VOIE Tools; LO Survey, Webinars and Training

By:
Rob Chrisman

Tue, Jun 25 2024, 11:54 AM

Everyone’s above average, right? If you are a lender and making money, you’re in the majority. It’s not that you’re not special, it’s just that with cuts and servicing income, and unprofitable companies going away, most companies are in the black: In the first quarter, 59 percent off all mortgage banking companies were profitable per the MBA Performance Report, buy it for details. Is our government profitable? Of course not, almost regardless of Administration. The federal budget deficit is expected to swell to around $1.9 trillion this year, according to the Congressional Budget Office, which was higher than its previous estimate of $1.5 trillion. This takes into account increased spending for student loans and Medicaid as well as the recently passed $95 billion foreign aid package. National debt is even poised to top $56 trillion over the next 10 years, or 122 percent of GDP, surpassing the 106 percent seen in 1946 after World War II. Meanwhile, the eurozone is facing debt issues of its own, with the ECB warning eight of its members (including Belgium, France, and Italy) over their excessive budget deficits. Today’s podcast is found here and this week’s is sponsored by Candor. Candor’s authentic Expert System AI has powered more than 2 million flawless, hands off underwrites. Every credit risk decision Candor makes is backed by a warranty, eliminating repurchase worries. Hear an interview with FinLocker’s Brian Vieaux on bringing consumer permission data to property searches and originations.

Software, Products, and Services for Lenders and Brokers

“Truv is the only consumer-permissioned VOIE platform approved with both GSEs, solidifying our commitment to delivering top-notch verification services tailored for mortgage lenders, banks, and credit unions. What does this mean for your business? Faster turn times, lower buyback risks, compliance assurance, and reduced operational costs. Read about why this matters for your business here.”

“Did you know that Polly is the rate engine for HousingWire’s Mortgage Rates Center? We offer the same capability to display live rates on lender websites, helping borrowers better assess your competitive edge against other lenders. This live data ensures that as the market fluctuates, prospects get real-time insights into your rates. Because in the current rate environment, having accurate, up-to-date rate intel on your homepage is crucial. It signals transparency, allowing potential borrowers to make informed decisions faster, without needing to supply personal information. This convenience can significantly increase your site’s engagement and drive more volume your way. On the flip side, NOT displaying live rates may deter potential borrowers, as they could perceive higher costs or simply prefer quick access to this information. Now, let’s take it several steps further; Polly’s Lender Intelligence will help you keep your rates competitive, ensuring you stay at the forefront of your peers. Let’s talk about it.”

“Calling all loan originators: We need your insights! Take the annual Loan Originators Survey from MGIC and Loan Officer Hub to weigh in on how you handled the challenges and opportunities of the past year. Get a head start on comparing your strategies to your peers’: Complete the survey by June 30 and you’ll receive exclusive early access to the full survey report this fall!”

Optimal Blue announced its new Competitive Data License today. In a news release, the company described its new data solution as a collection of key national mortgage pricing data that empowers lenders to price products competitively, operate more profitably, and react swiftly to changing market conditions. This product from Optimal Blue includes loan-level data from the industry’s most widely used product, pricing, and eligibility engine, providing a full price trace from borrower/buy-side to investor/sell-side pricing. Optimal Blue’s new data solution equips lenders with the ability to benchmark every aspect of their pricing strategy, providing extensive insights into markups, loan-level price adjustments (LLPAs), servicing-released premiums (SRP), concessions, loan officer compensation, base price, and PAR rate. Optimal Blue will be hosting a webinar on July 10 for those interested in learning more about Competitive Data License and its other data solutions.

HELOC borrowers can pay off debt to qualify and still close in as little as 1 day! With trillions of dollars in accessible home equity nationwide, there’s never been a better time to become a REMN Partner. REMN Wholesale, leading the way in Wholesale Digital HELOCs nationally, now provides the DEBT ELIMINATOR feature to its EQUITY ACCESS Digital HELOC. DEBT ELIMINATOR gives borrowers the ability to pay off debt to qualify. With loan amounts from $25k to $400k and recent rate reductions, REMN’s Digital HELOC is designed for fast closings. Additional features: Instant Income Verification for the vast majority of W-2 borrowers; automated analysis of bank statements to determine Income for both W-2 and Self-employed borrowers; single AVM up to $400k (appraisal options available); Broker Portal with robust functionality and real-time detailed status on all pipeline loans. Minimum FICO 640 and max 80% CLTV (see rates/guides). Flexible: Hybrid platform is digitally fast with humans to solve real-life complexities! And they provide fast payout (utilizing ACH). White Label: Brand your company/MLO. REMN is only wholesale! Contact Carl Markman.

Webinars and Shows

“Unlock the key to closing more loans in a competitive market. Join us on Thursday, June 27 at 2 pm ET / 11 am PT for the NMP Webinar “Build Your Personal Brand (and Close More Loans) by Optimizing Borrower Credit Scores.” Hosted by Mike Darne, a seasoned marketing executive who has led branding efforts at Capital One and Marriott, this webinar will share proprietary research from CreditXpert on what borrowers seek in a lender and how credit optimization meets those needs. Discover how you can help borrowers qualify, access better loan programs, lower their cost of homeownership, and reduce LLPA premiums. Learn to leverage credit optimization to build your personal brand, stand out in the marketplace, and ultimately close more loans. Don’t miss this chance to enhance your skills and grow your business: Register for the webinar here.”

Podcast: How the NAR Ruling Will Impact Lenders (& the Entire Home-Buying Process). The groundbreaking NAR settlement has real estate agents, lending professionals, and home buyers scrambling to understand its ramifications. Here to weigh in is Maxwell’s Clear to Close crew: In this conversation, Alan, Bryan, and Anthony channel their experience in the industry to walk through possible outcomes of the ruling. Specifically, this episode explores how new policy changes are likely to impact lead generation, methods to earn borrower business, and more—and how lenders can get ahead of the major ways the home-buying process is about to change. Click here to listen to How the NAR Ruling Will Impact Lenders (& the Entire Home-Buying Process).

A good place for longer term conference planning is to start is here, and click on “Conference List” for in-person events in the future.

Join Kristin Messerli and Robbie Chrisman today at 10am PT/1pm ET for the latest episode of Mortgages with Millennials as they share some new research on NextGen money trends, this time based on a personality quiz she developed to better understand the mindset, planning style, and behaviors of millennials when it comes to money and homebuying. sharing some new research on NextGen money trends, this time based on a personality quiz she developed to better understand the mindset, planning style, and behaviors of millennials when it comes to money and homebuying.

Every Tuesday at 11am PT, two veteran LOs discuss all things mortgage with Industry Leaders. Mortgage Pros 411 with Audrey Boissonou and Kevin Casey.

Register for Silicon Valley CAMP’s Free Marketing Presentation: “AI for Dummies via Zoom,” today at 9:30 AM (PDT).

In support of the Credit Score Models and Credit Reports Initiative, FHFA has announced a new stakeholder forum, an “Overview of Historical Credit Scores,” that will take place today from 3-4 p.m. (ET). FHFA, Freddie Mac and Fannie Mae will provide details regarding the Enterprises’ forthcoming publication of historical credit scores to support the implementation of the VantageScore® 4.0 credit score model.

MBA’s Single Family Research Showcase 2024 Virtual Meeting, June 25 & 26, 1:00 – 5:00 pm. MBA’s Research & Economics team will take you on a deep dive behind the data during our one-of-a-kind Single-Family Research & Economics Showcase. Led by MBA’s Chief Economist, Mike Fratantoni, Ph.D., this two-day online event highlights the most current results and insights from our popular residential surveys, forecasts, and reports. For those unable to attend, meetings will be recorded on both days. Register to receive the recordings.

Capital Markets

As optimism about a US Treasury rally grows among investors, a key bond market indicator suggests high interest rates could persist, potentially hampering the Federal Reserve’s ability to cut rates. Market forecasts indicate that the economy’s neutral rate, crucial for balancing growth, is significantly higher than the Fed’s current projection, hinting at long-term elevated borrowing costs.

While we do have some significant data later this week (GDP, inflation, consumer sentiment, home prices, etc.), this final week of June began yesterday on a quiet note without much market movement. This week also brings the quarterly refunding, which sees an increased flood of Treasury issuance that investors will be asked to absorb: $211 billion in new debt this week alone, with all of it coming on the front end of the curve. Today, markets will receive $69 billion 2-year Treasury notes.

Today’s economic calendar kicked off with the non-market moving Chicago Fed National Activity Index for May (better than expected) and Philadelphia Fed non-manufacturing for June. Later today brings Redbook same store sales for the week ending June 22, April house price indices from FHFA and Case-Shiller, the Consumer Confidence report for June, Richmond Fed manufacturing and services/revenues in June, and Dallas Fed Texas services for June, followed by the aforementioned Treasury note auction. Two Fed Governors are scheduled to make appearances: Governor Bowman and Governor Cook. We begin the day with Agency MBS prices little changed from Monday’s close, the 10-year yielding 4.22 after closing yesterday at 4.25 percent, and the 2-year at 4.72.

Employment

Mortgage Equity Partners (“MEP”), a mid-cap IMB headquartered in Massachusetts, is proud to be recognized as the fastest-growing IMB in the state measured in both units closed and volume funded in 2023 and YTD 2024. MEP has added production in many of its 22 states over the last 12-14 months. “As a mid-cap, we inherently have a flatter management structure, are more nimble, and can adapt to change quicker. Consistently, we see LOs migrate from large-cap IMBs because, as architects of their own businesses, LOs want quicker access to decision-makers. Those LOs want to operate at their own cadence and not be bogged down with layers of management. Our environment has a positive impact on LOs as strong business partners to support their referral sources,” said Sean Riley, CEO and General Counsel. To learn more about MEP, visit meploans.com or contact John Cabral, National Sales Director.

A seasoned Mortgage Executive is seeking a new opportunity to help lead a mortgage lender or vendor toward achieving their growth goals. Are you a mortgage lender or vendor (established or new) in need of leadership to navigate the current market and drive future growth? This executive has extensive sales leadership experience in all production channels (TPO, Retail, and DTC) and is an expert in all product types (Agency, Non-QM, and Private Money Lending). They also have deep knowledge of the vendor and technology space. Please send inquiries to Anjelica Nixt to pass along to the candidate and specify the listing.

(Remember: job seekers can post their resumes for free on www.lendernews.com where employers can view them for several months for a nominal charge.)

 Download our mobile app to get alerts for Rob Chrisman’s Commentary.

Source: mortgagenewsdaily.com

Apache is functioning normally

MINNEAPOLIS — Last year, after Deb Jerikovsky’s husband died, she decided to swap the lake home where they planned to spend retirement for a house in the metro that’s closer to family.

She put that plan on hold, however, once she realized 7% mortgage rates would force her to dip too deeply into her savings. Instead, she moved in with her daughter, hoping she’d eventually score a lower rate.

She didn’t have to wait long.

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Mortgage rates were still hovering near 7% last October when she ran across a listing for a townhouse in Coon Rapids, Minnesota, that touted a KitchenAid fridge, electronic blinds and an unexpected extravagance: a low-interest assumable mortgage.

“It was like winning the lottery,” said Jerikovsky, who assumed the seller’s 2.25% mortgage rate.

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The deal saved her about $700 a month compared with today’s rates and gave her enough room in her budget to buy a new car and spend part of the winter with her aunt in Florida. Her $349,900 townhouse is one of hundreds of listings in the Twin Cities with an assumable mortgage eligible sellers can transfer to qualifying buyers, teleporting them back to a time of record-low rates.

Though they now account for only a fraction of all house listings, these government-backed mortgages — courtesy of the Federal Housing Administration (FHA), Veteran Affairs (VA) and U.S. Department of Agriculture (USDA) — are an overlooked home-buying hack saving a growing number of buyers hundreds of dollars a month and tens of thousands of dollars through the life of their mortgages.

“Most agents aren’t even aware of what it entails and what to look for,” said Tyler Miller, a Minnesota broker who has been involved with several sales involving assumable mortgages with astoundingly low rates.

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Miller recently listed a four-bedroom house in Blaine with an assumable 2.25% FHA mortgage with a monthly payment that’s about $1,700 less than it would be at the going rate. To tout the listing, he posted a TikTok video promoting the benefits.

“I had some people tell me I was lying,” Miller said. “I said, ‘No, this is real.’”

Assumable mortgages have been lurking in the shadows of unusually low rates in recent history. Such mortgages were last popular in the 1980s when rates hit a record 18.1%.

At the end of 2020 and into early January 2021, rates fell to record lows, hovering around 3% for much of 2021 and causing home sales and prices to soar. That buying binge locked in thousands of mortgages at rates that likely won’t be that low again for decades. An estimated 80% of all VA mortgages, like the one Jerikovsky assumed, now have a rate that’s less than 4%, and many of those rate-holders are now ready to sell.

Today, the average 30-year fixed-rate mortgage is about 7%. Though that’s still below historical averages, there’s a generation of buyers yearning for a time of low rates that’s unlikely to re-emerge anytime soon.

An estimated one-third of all mortgages in the U.S. are assumable now. Because many owners will hold onto those rates as long as possible, assumable mortgage listings represent only a fraction of homes currently for sale, making them one of the best-kept secrets for homebuyers these days.

While some agents will include an assumable mortgage in the listing details, many homeowners don’t even know they have one — the details are buried in the fine print of their contract, which many buyers don’t carefully read. In Minnesota, just shy of 5% of the more than 30,000 houses listed on Realtor.com had assumable mortgages. The website only started including a search feature for assumable mortgages in February.

Ryan Carrillo and Louis Ortiz started their Assumable.io website, which is dedicated to assumable mortgages, after Carrillo discovered the 2.75% FHA mortgage on his own house was assumable.

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The site lets you search for listings city by city, including detailed mortgage data such as the assumable rate and payment compared with the payment at current rates. All of the more than 30,000 nationwide listings on the site have an assumable mortgage, including other key details such as the required down payment and the interest savings through the remaining mortgage.

“It’s a huge opportunity,” Carrillo said, nothing that traffic to the site has doubled every month since its launch.

A recent listing for a nearly new townhouse in Maple Grove initially priced at $485,000 came with an assumable mortgage that’s half the current rate, saving a would-be buyer about $1,000 a month. Through the life of the loan, that lower rate would save nearly $400,000 in interest payments.

Roam, which doesn’t yet post listings in the Twin Cities, is another new website focused solely on assumable mortgages. It charges buyers 1% of the purchase price to help navigate the process. On average, the company claims, buyers who use the site save $15,000 in mortgage payments annually.

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“It’s not a panacea and won’t work for every transaction and every buyer,” Ortiz said. “But it provides buyers the opportunity to afford more house if they can make the equity gap work.”

That equity gap is often the biggest hurdle. Because the buyer is essentially taking on the existing mortgage rather than receiving a new one, the buyer has to pay the seller the difference between the original mortgage balance and the current asking price.

Though it’s only been a couple years since rates spiked, that equity gap can be significant given how house prices have steadily risen. To eliminate that barrier, Ortiz and Carrillo said they’re now offering lenders willing to do a second mortgage access to their site.

Chris Birk — vice president of Veterans United Home Loans, which has a national network of agents who specialize in working with military buyers — said there’s been a 600% increase in the number of VA mortgage assumptions from 2022 to 2023.

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“We’re seeing marked increase interest in these,” he said. “But it’s a foreign concept for so many buyers but also sellers.”

He said while any lender or servicer should be able to complete the transaction, it helps to work with professionals who are familiar with the process.

Brady Holland, the agent who helped Jerikovsky buy her townhouse, said assuming a mortgage can be a bit more complex because both the buyer and seller have to provide documentation. That’s especially true for the seller, who is essentially “selling” the mortgage to the buyer.

“It was a little tricky,” he said. “I had to call [the processor] every other day to check on things. … It takes a team to make it happen.”

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Many VA mortgage holders are reluctant to let another buyer assume their mortgage because once they do, they forfeit the right to use the benefit to buy another one. Unlike FHA mortgages, VA mortgages are considered a government benefit with perks that include the ability to forgo private mortgage insurance and no, or a low down payment and competitive low rates.

A VA mortgage holder is entitled to transfer those benefits to a qualifying nonveteran, as long as the seller doesn’t plan to buy a home with another VA loan.

In the case of the house that Jerikovsky bought, the seller was a widow who moved to an apartment, enabling her to waive her right to additional VA mortgage benefits because she doesn’t plan to buy again.

Though a mortgage assumption can take longer than a new, traditional mortgage, that wasn’t the case for Jerikovsky’s purchase, which closed less than two months after she first saw the house. For her, the most challenging part of the process, she said, was filling out online forms and applications. But her tech-savvy daughter helped with that.

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“I didn’t know if I would be living with my daughter for six months or a couple years until rates went down,” she said. “That (assumable) rate made all the difference in the world.”

– Jim Buchta for the Star Tribune

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Source: dallasnews.com

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The most avid travel hackers often shoot me a skeptical glare when I utter the words “timeshare presentation” as a way to get discounted hotel stays and piles of points to use toward future travel.

The deal is pretty simple: receive a heavily discounted hotel or resort stay and other perks in exchange for attending a timeshare presentation — better known as a sales pitch.

The last email offer I received was in March 2023 from Hilton Grand Vacations. It dangled a three-night stay in Las Vegas plus 50,000 Hilton Honors points in exchange for $149 and sitting through a 90-minute talk.

Having attended four timeshare presentations over the last decade, I find that the discounted hotel stay and extra perks — like hotel points and discounted spa treatments or amusement park tickets — are worth my time. All you have to do is attend the presentation and say “no” (sometimes several times) if the timeshare is not right for you.

Here’s how to get nearly free vacations with timeshare presentations.

Determine the value of the promotion, then negotiate

I’ve successfully negotiated the terms of a timeshare presentation in the past, so I called Hilton to see if it could sweeten the deal with upgrades like more travel rewards points or food and beverage credits.

After reviewing the terms of my promotion — and with some very polite back and forth — I requested an increase to 100,000 points and a waiver on the additional resort fees of $34 per night. After a long wait, the sales representative’s supervisor approved the deal if I accepted it on the spot, which I did.

According to NerdWallet’s valuation, Hilton points are generally worth about 0.5 cent each, giving the 100,000 points an approximate value of $500. The nightly room rate over my travel dates was $249, plus $34 per night in resort fees. That gives this deal a value of over $1,300 in exchange for 90-minutes of my time and the $149 I paid for the package.

Understand the restrictions and limitations

Certain hotels require attending the presentation with a spouse, while others may have specific income requirements. Ask about blackout dates, package expiration dates and any other hidden fees (like those pesky resort fees).

For Hilton, I had to verbally confirm my income was above a certain threshold and attest that I hadn’t participated in another Hilton-based timeshare presentation over the past six months.

Once I purchased the package, Hilton gave me 12 months to use it. After my reservation in Las Vegas was booked, Hilton assigned a set date and time for the timeshare presentation. If you miss it, the company can charge the full cash rate for the stay and revoke any perks offered.

Also be aware that you won’t earn hotel points or elite night credits with the host brand for the promotional stay.

Know what to expect at the sales pitch

The pitch usually starts with an introduction to your salesperson and a general video or presentation about the company’s timeshare program. You’ll then be whisked away to an office, where the salesperson asks about your finances and travel habits. You’ll be introduced to a rubric of costs to stay at different tiers of properties — costs that may fluctuate seasonally or during periods of high demand.

Many timeshare companies, even Disney, have transitioned to a points-based system, where you buy points used to make reservations after you’re an “owner,” but be aware these points are independent of the chain’s loyalty program.

Once the salesperson estimates the cost required to live your best timeshare life, they’ll take you on a tour of a model property. You’ll then return to the office and be introduced to the “closer” — the person who ran the numbers and tries to pressure you into signing.

The sales professionals will tug at your emotions with aspirational travel fantasies while making you feel like family. Remember, they are incentivized by commissions to make you buy a timeshare through signing a contract that can last the rest of your life.

🤓Nerdy Tip

Timing the pitch using my phone allowed me to politely tell the salesperson their time was up once the required duration under the promotion elapsed (usually 90 to 120 minutes).

Be in the ‘no’

Timeshares are big business, with $10.6 billion in domestic sales in 2023, according to a 2024 study by the American Resort Development Association (ARDA), a trade association for the timeshare industry. For comparison, that’s similar to the annual revenue of Major League Baseball in 2023.

Hospitality companies wouldn’t offer these lucrative promotions unless enough people were buying what they’re selling.

Jason Gamel, president and CEO of ARDA, says that approximately 2 in 10 people decide to buy after a sales presentation. And that purchase, of course, comes with a financial commitment. The average purchase transaction was $24,170 in 2023, according to the ARDA study, with average annual interest rates near 15%.

This amount covers the initial cost to join the timeshare and the financing of the balance but does not include ongoing costs such as membership dues, maintenance fees or other required resort operation expenses.

If you’re not in the market for a timeshare, no sales pitch should persuade you to get one. Before the pitch, think (or talk) through the process of saying “no,” and if you have a spouse who’ll be attending, include them in the conversation.

Later, if you change your mind and decide to sign a contract, a state’s rescission laws could allow the contract to be canceled within a certain window after signing — usually between five and 10 business days.

“I think that’s important because it does help people evaluate whether they’re making the right decision for them, and it gives them a very easy way to say no after everything is said and done,” says Gamel.

Simply pack up and go

Despite skepticism from my travel-hacking cohorts, timeshare promotions allow me to save money on travel now and earn rewards to use for free travel in the future. The process won’t be for everyone, but if you’re willing to sacrifice a couple of hours and know the power of saying “no,” it could do the same for you.

How to maximize your rewards

Source: nerdwallet.com

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Radermacher said a dangerous assumption is that homebuying will always be as accessible as it was during the COVID-19 pandemic, and added that would-be buyers needed to think carefully before deciding to take the plunge. “I think the reality is coming back to what our parents dealt with: they knew they wanted to buy a … [Read more…]

Apache is functioning normally

Chris Adam
June 26, 2024 at 8:32 AM
fizkes / iStock.com

If you’re in the market for a new house, you may be wondering how you’re going to afford the mortgage. After all, mortgage rates are near 7%.

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That’s why some homebuyers are getting creative to pay lower mortgage rates. 

Consider an Assumable Mortgage

One way you may be able to pay a lower rate is to get a home with an assumable mortgage. That’s where the buyers take over the existing mortgage that the seller already has in place instead of going out and getting their own loan. With this route, you might be able to find a mortgage with a much lower rate than the current one.

Many loans backed by the Federal Housing Administration, Department of Veterans Affairs and Department of Agriculture are eligible for assumption. However, most conventional loans, the most common type by far, are not. That’s because of a “due on sale” clause requiring the seller to pay the loan in full when they sell the property.

Check Out: 8 Places Where Houses Are Suddenly Major Bargains

Know the Risks

Keep in mind, the borrower needs to cover all the equity already built up in the house. For example, if you buy a $350,000 home and assume the seller’s mortgage with a balance of $200,000, you must pay the remaining $150,000 in cash or additional loans. That means an assumable mortgage may not be the best bet if the current owner has paid off a large stake of the house already, as NBC News reported.

In addition, there are disadvantages and risks associated with assumable mortgages. You might not be approved for the loan, for one. And you’ll need to stick to the original terms of the loan, which means no opportunity to negotiate.

Check Out Other Options

If an assumable mortgage isn’t right for you, there are other ways to qualify for a lower mortgage rate. Paying more money down, increasing your credit score and taking out a shorter-term loan — 15 or 20 years instead of 30 — all can help you get a better mortgage rate.

More From GOBankingRates

This article originally appeared on GOBankingRates.com: Creative Ways Homebuyers Are Paying Lower Mortgage Rates in 2024

Source: aol.com

Apache is functioning normally

Thinking about trying out Ipsos iSay? Learn what I think in my Ipsos iSay Review. If you want to earn extra cash from home on your own schedule, you may want to try out Ipsos iSay. Ipsos iSay is a survey company where you can earn points that can be turned into rewards. The surveys…

Thinking about trying out Ipsos iSay? Learn what I think in my Ipsos iSay Review.

If you want to earn extra cash from home on your own schedule, you may want to try out Ipsos iSay.

Ipsos iSay is a survey company where you can earn points that can be turned into rewards. The surveys usually ask about your shopping habits and preferences. For example, they may want to know why you buy certain things.

Using Ipsos iSay is easy. Just sign up and you’ll get survey invitations. Completing these surveys can help you earn extra pocket money.

I have been taking surveys for years, and I think it’s an easy way to make extra money in your spare time at home.

Please click here to sign up for Ipsos iSay and get a free 250 points for joining.

Ipsos iSay Review

Below is my Ipsos iSay Review.

What is Ipsos iSay?

Ipsos iSay is an online survey platform that lets you share your opinions on many different topics. You can also earn points through their referral program for each successful referral to Ipsos iSay.

This is one of the most popular and best survey sites, with millions of users.

Ipsos iSay gives you points for completing surveys. The number of points you earn depends on how long and hard the survey is. For example, a 150-point survey might take 30 minutes to finish. Usually, 500 points equal $5 in rewards.

The points you earn from taking surveys can be redeemed for free gift cards to places like Amazon, Starbucks, Subway, Target, Walmart, Apple, and Visa, as well as PayPal cash.

Recommended reading: 20 Best Paid Survey Sites To Make $100+ Per Month

How Ipsos iSay works

Ipsos iSay is a survey platform where you can earn rewards by sharing your opinions.

To get started, you need to sign up on the Ipsos iSay website, and the signup process is easy and free. You will create a username and password, as well as give basic details like your name, date of birth, gender, email, and country, and this information helps decide which surveys you can take.

After making your profile, there might be more questions to better match you with surveys. Answering these carefully can help you get more surveys that fit you.

Once your profile is ready, you’ll get survey invitations by email. These emails will tell you about the survey, like how long it takes and how many points you can earn. It’s important to respond quickly because surveys can fill up fast.

Some users might get more survey invitations based on their profile and how active they are. So, you will want to make sure to check your email regularly for new surveys, as answering surveys regularly can help you earn more and might also get you more invites.

The surveys are usually easy and quick. They might ask about your buying habits or what you think of a new product.

Sometimes, you might not qualify for every survey. When this happens, don’t get discouraged. There are always new surveys coming.

Why does Ipsos iSay pay you?

Ipsos iSay pays you to take surveys and give your opinions because companies need to know what people think about their products, ads, and services.

These companies hire Ipsos to gather this information. When you share your thoughts, you help them make better products.

Your feedback is really valuable to these companies because they want to know what you like and don’t like. This helps them improve what they sell in the market, as well as how they sell it.

What kind of questions are asked in surveys?

When you take surveys on Ipsos iSay, the questions help companies understand what people like you think.

You might be asked about products you use every day. They could ask what brand of toothpaste you buy or how often you drink soda.

Sometimes, you’ll get questions about ads you see. They might show you a commercial and ask if you liked it or if you remember what it was about.

Other times, questions will focus on your hobbies and interests. They might ask what you do for fun or what sports you watch on TV.

Surveys can also include questions about shopping habits. For example, they might ask about your last trip to the grocery store or how often you shop online.

Lastly, you might be asked about opinions on different topics. They could ask how you feel about a new movie or what you think about a recent news story.

Here’s a quick list of common survey topics:

  • Products you use
  • Ads you’ve seen
  • Your hobbies and interests
  • Shopping habits
  • General opinions

Each survey is different, so you won’t get bored answering the same questions all the time!

Here is a screenshot of some of the Ipsos iSay rewards.

How to cash out with Ipsos iSay

Cashing out with Ipsos iSay is simple.

Simply go to the Rewards tab when you are logged into your Ipsos iSay account. On this page, you will be able to see the rewards that are available to you as well as the amount of points that you need in order to get that reward.

Gift cards and prepaid cards are sent to you instantly once you redeem your points. If you redeem your points for PayPal cash (you will need to already have a PayPal account for this to work), then this takes around 3 to 4 weeks.

Here are some examples of what your points are worth on Ipsos iSay:

  • 1000 points for a $10 Amazon gift card
  • 500 points for a $5 Subway gift card
  • 1000 points for a $10 Starbucks gift card
  • 2500 points for a $25 Target gift card

You can also get gift cards to places like Walmart, Apple, Burger King, Dunkin’ Donuts, and Domino’s. Other options include prepaid virtual Visa cards, PayPal cash, and even charity donations to the Ipsos Foundation.

Ipsos iSay user reviews and ratings

I researched around the internet to see real Ipsos iSay reviews. Here’s what I found:

Ipsos iSay has great reviews on TrustPilot, with over 50,000 reviews and an average rating of 4.2 out of 5 stars. Many reviewers say that they received survey invitations regularly and that it is easy to use.

Ipsos iSay also has great reviews on Google Play (there is an Ipsos iSay app as well!), with over 50,200 reviews and an average rating of 4.5 out of 5 stars. There have also been over 1,000,000 downloads of Ipsos iSay just on Google Play.

Ipsos iSay reviews on the App Store were also good, with 3,300 ratings and an average of 4.7 out of 5 stars.

Alternatives to Ipsos iSay

There are many more sites similar to Ipsos iSay that you can sign up for as well. These include:

  1. Prime Opinion
  2. American Consumer Opinion
  3. Survey Junkie
  4. InboxDollars
  5. Pinecone Research
  6. PrizeRebel
  7. User Interviews – This one pays the most, with many paying over $100 an hour.

If you are looking to learn more about each online survey website, I have in-depth reviews on several of them. You can find them below:

Frequently Asked Questions

Below are answers to common questions about Ipsos iSay.

Is Ipsos iSay legit?

Yes, Ipsos iSay is legit. It’s operated by Ipsos, a global market research company that has been around since 1975. The site also has positive ratings on Trustpilot, Apple App Store, and Google Play. Ipsos iSay pays real rewards for the surveys that you answer.

How much does Ipsos iSay pay?

Earnings on Ipsos iSay can vary. Some surveys pay more than others, but most surveys reward you with points. These points can later be redeemed for gift cards, cash, or other rewards. Answering surveys on Ipsos iSay will not make you rich, nor will it be a full-time job. It will simply allow you to earn some side hustle income. I would expect to earn less than $50 a month answering surveys on Ipsos iSay.

Is Ipsos iSay safe? Is Ipsos iSay a scam?

Yes, Ipsos iSay is safe to use. I have been answering surveys for years, and I have never had an issue.

How long does it take for Ipsos iSay to pay out?

The time it takes to get paid from Ipsos iSay can depend on the reward you choose. Gift card rewards are usually faster, typically paid instantly or within a few days. Cash payouts through PayPal may take longer, sometimes up to a few weeks.

What are some tips to get more surveys from Ipsos?

To get more surveys from Ipsos iSay, I recommend making sure your profile is complete and up-to-date. This helps Ipsos iSay match you with more surveys. Also, try to log in regularly to check for new survey opportunities.

Is Ipsos iSay free?

Yes, joining Ipsos iSay and participating in surveys is free. You don’t have to pay anything to become a member or to take surveys.

Ipsos iSay Review – Summary

I hope you enjoyed my Ipsos iSay Review.

Ipsos iSay rewards you for sharing your opinions through surveys. Their surveys are easy to answer, and they typically focus on your shopping habits and preferences. The number of surveys you receive can vary, and availability of surveys depends on your profile and what the target market is that Ipsos iSay is looking for.

The Ipsos iSay points you earn can be exchanged for things like Amazon gift cards and PayPal funds.

I have been answering surveys for years, and it is an easy way to make side income from the comfort of your home without any stress. The questions are always easy to answer and you can even answer them while watching TV or making dinner.

Please click here to sign up for Ipsos iSay and get a free 250 bonus points for joining.

What is your favorite survey site?

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Source: makingsenseofcents.com