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Apache is functioning normally

May 25, 2023 by Brett Tams

For most people contributing to a 401(k) retirement plan at their workplace is the main way they’re investing for the future.

Sometimes those retirement plans are easy to understand, low cost, and offer great options to invest, but other times they’re confusing and complicated.

Blooom is an automated investment advisor and advice engine that can make managing your 401(k) a little bit easier.

Blooom is a robo-advisor for your 401(k). Let’s take a look at who Blooom is, and what they do.

Blooom History

Blooom was founded in March 2013 in Overland Park, Kansas by three friends, co-founders Chris Costello, Kevin Conard and Randy AufDerHeide.

The idea behind the company was to help give better advice and management for 401(k) plans, for regular people.

The firm’s researchers analyzed close to 90,000 401(k)s, with over $3 billion in total assets, and they found that over 80% of them were managed poorly.

That’s where Blooom decided to step in.

Blooom helps people to manage their employer sponsored retirement plans. They can manage your 401(k), no matter where your plan is held, or who your employer is.

They’ll give you good advice, and manage the 401(k) in your best interest, since they are a fiduciary and are required to by law.

Here’s an overview of the company from the folks at Blooom:

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What Does Blooom Do?

Blooom will automatically manage your 401(k) retirement account for you. It is a robo-advisor that will help you to maximize returns within your company sponsored retirement plan.

If you work for a company that has a 401(k) plan, often the company won’t give you much advice on how to manage your investments, once you’re signed up for a plan.

They basically tell you there’s a plan, that they’ll match your contributions up to a certain level, and give you a login for your account.

Simple enough. But what happens once you start contributing money? Where does that money go, and what should you invest in? What are the expense ratios on the different funds?

If you’re in your 20s and just starting out these concepts can be a bit difficult to grasp, especially if you’re more focused on building a career.

Blooom can step into this knowledge gap and help you to make sure your investments are aligned with your future goals.

They’ll find out some basic information from you like your age, target retirement date and a few other things, and then Blooom will recommend an allocation for your portfolio.

For younger people they’ll typically recommend a 100% stock allocation, and as you age the portfolio will begin to be more heavily weighted towards bonds. In other words, you’ll be taking on more risk in your early earning years, and move towards more stable investments as you age. If you don’t like their recommendation you can opt for a different ratio of stocks to bonds.

Whenever possible Blooom wil select a low cost index fund to help you meet your goals, and if you’re someone who has accidentally selected high cost mutual funds, this could bring some significant savings for you right off the bat. They’re looking to get you into investments that will be low cost, and track the performance of the market.

Based on their algorithm, Blooom will rebalance your portfolio every 90 days to make sure your desired stock to bond ratio is maintained. If you want to adjust your allocations, or target retirement date, you can do that at any time as well.

In addition to managing your 401(k) account, Blooom will allow users to ask financial questions from experts and real advisors. Should you invest or pay extra towards your mortgage? Should you be worried about market downturns? Ask them and they’ll be happy to help.

Get Started With A Free 401(k) Checkup

Blooom offers a free 401(k) checkup before you even sign up for their services, no promo code needed.

They’ll take you through a quick questionnaire where they ask you for your name, date of birth and when you expect to retire.

Next, they’ll ask you for an email address and password to secure your account.

Third they’ll confirm that you do in fact have a 401(k), 401(a), 403(b), 457 or TSP account, and ask you to link that account.

Finally they’ll analyze your retirement account, and you’ll see how your account is doing, and what you might be able to do better. It will show you how you can do better with fees, with allocation, and with the diversity within your portfolio.

Finally it will give you a summary of your 401(k) checkup telling you just how much Blooom can save you, and how they can help.

To get started with your free 401(k) checkup, head on over through our link here:

After Your Free Checkup

After your free 401(k) analysis, if you choose to continue with Blooom within 30 days they’ll adjust the investments in your account so that it aligns with your goals.

the average Blooom client cuts their hidden investment fees by 44%. (Based on Blooom clients‘ median pre-Blooom expense ratios and median post-Blooom expense ratios as of August 5, 2018)

First they’ll check your 401(k) and remove any funds that aren’t worth having. They’ll prioritize index funds, and typically only use actively managed funds to gain investment exposure in an area that you’re light.

Then Blooom will use their algorithm to select the best portfolio based on costs and manager experience.

Any time a change is made, they’ll advise you of the changes, and you’ll get a full break down of what has changed with your investments, how your investments look now and how you can save more.

Finally, every 90 days or so Blooom will check your account for opportunities to rebalance your portfolio. If the investments are out of balance, Blooom will rebalance them. Regular rebalancing can add an additional 0.5% to the annual returns on investment.

What Types Of Accounts Will Blooom Manage?

Blooom only manages employer-sponsored retirement accounts at the current time. That means that you can sign up and use them if you have one of these types of retirement account:

401k
403b
401a
457
TSP

IRAs, Roth IRAs and other taxable account types need not apply.

Blooom Security

If you’re concerned about the security of Blooom, and whether or not your retirement accounts are safeguarded, they are. Here is how they’re protecting your information:

256 bit encryption, bank level security: The website is secured with secure socket layer encryption, and bank level security. Their servers are secure and encrypted to ensure private online transactions.
Third party verification: They take extra measures to ensure you are really who you say you are any time changes are requested.

What Is The Cost To Use Blooom?

What does it cost to use Blooom?

Currently it costs only $10/month to have Blooom manage your 401(k). If you have additional 401(k) accounts to manage under the same login it is an additional $7.50 per account.

Depending on how much you have invested, the fee may be a large percentage of your portfolio, or it could be an extremely reasonable fee. Let’s look at why that is.

The more you have in your 401(k) account, the better deal Blooom will be for you. For example, let’s compare Blooom to the fees charged for assets under management by Wealthfront or Betterment. They both charge 0.25% annual fee for assets under management. On the other hand a human financial advisor will often charge somewhere around 1%.

Let’s say you have $1000 invested in your 401(k) (not very much), then the $10 monthly fee will come out to $120/yr, or a 12% fee. That’s not going to make much sense for most people.

If you have a larger account, however, say $100,000, the $10/month fee will come out to about a 0.12% fee. At $50,000 it will be a 0.24% fee.

Once you reach a certain level it’s very reasonable and low cost to have your 401(k) fully managed by Blooom. The more you have in your 401(k), the more cost effective it is.

Reasons To Use Blooom

There are a lot of reasons to like Blooom, and to give them a try:

They’ll give your 401(k) a free once over: Even before you pay for their service, they’ll analyze your 401(k) for free, and give you some recommendations. If you don’t like the recommendations, don’t sign up.
Their service is unique, and helpful: They are one of the only full service 401(k) management services available, and what they’re offering is helpful, and at a reasonable price.
Cancel the service at any time: There are no long term management contracts. Just cancel through your blooom account before your next billing cycle and you won’t pay additional fees.
Fees are paid directly with credit or debit card: Often investment companies will take their fees directly from your investments, decreasing returns you might gain. Blooom will charge your linked card for the $10 monthly fee.
Their analysis will give insight into your plan’s fees, funds: Once they analyze your plan, they’ll give you insights into our investment options in the 401(k) plan that you may not have had before. Things like which funds have the lowest expense ratios.
You have access to a real advisor through email and chat: Not only will you get the automated financial advice, you’ll also have access to a real person through email and chat if you have questions. It doesn’t necessarily have to be about your 401(k).

Reasons To Not Use Blooom

There are a few reasons to avoid Blooom. They may not be for you if:

Have a non employer sponsored type retirement account: If you don’t have a 401(k), 401(a), 403(b), 457 or TSP account, you won’t be able to work with Blooom.
Don’t agree with their aggressive stock allocations for younger investors: Most investors under the age of 40 receive a stock allocation of 100%. If that’s too aggressive for you this might not be for you.
If your account is too small to make the fee worthwhile: If your account is small enough the fee may be too large or a percentage of your assets under management. You’re probably better off managing it yourself for the time being, and working hard to max out your contributions. Sign up later.

Blooom Is The Low Cost Robo-Advisor For Your 401(k)

Blooom is a low cost automated investment advisor for your 401(k).

Most people will contribute to a 401(k), but aren’t really fully aware of what they’re investing in, or why. If you don’t have the time or the inclination to research your 401(k), it can be like fishing in the dark. Which funds are the best for my situation?

Blooom can step in, and fill in the gap. They have the expertise, knowledge and the technology tools in order to turn your 401(k) around.

They’ll analyze your account for fees, allocations and diversity of investments. They’ll find ways that you can improve your investments and then help you to implement their suggestions.

In short, they’ll manage your 401(k) and allow you to focus on things that are more important to you.

I would definitely recommend giving Blooom a try!

Get Your Free 401(k) Account Analysis

Blooom

$10/month

Rating

9.5/10

Pros

Professional account management for 401ks
Low cost at a certain account level
Work with a variety of providers
Live chat and email support
No account minimum

Cons

Fees high if low account balance
Aggressive stock allocations

Source: biblemoneymatters.com

Apache is functioning normally

May 25, 2023 by Brett Tams

Coattail investing, also known as copycat investing, is one of many popular investment strategies and one that involves investors trying to replicate the results of investors that already have a proven track record of success. In effect, investors look at what other successful investors are doing, and replicate it.

For newer investors, this method has some obvious advantages, and can help ease the learning curve a bit. But, of course, there are both benefits and drawbacks, and it’s helpful to know who you can or perhaps should try to replicate before choosing some coattails to ride at random.

How To Be a Coattail Investor

For the most part, coattail investing incorporates a buy and hold strategy, where an investor buys stocks and holds them for the long term — a period of several years or several decades. Publicly available information from the financial press and the Securities Exchange Commission (SEC) website can give copycat investors information on how investors (those managing more than $100 million) have invested their money.

Coattail investing begins with choosing what person or group to watch. Then, based on their investment choices, a copycat investor can choose to replicate those investing strategies either in whole or in part.

In most cases, the average investor probably doesn’t have enough capital to keep up with big money managers and institutions in an exact 1:1 ratio. But watching what they buy and sell (and when), and acting accordingly to some degree, is the heart of coattail investing.

While investors used to have to manually follow their favorite investors by searching the SEC website or elsewhere, today, certain online services exist that help to automate the process.

Some brokerages may even offer “mirror investing” services that allow investors to set their own portfolios to make the same exact trades that their favorite investors make, with customized asset allocations.

Who Do Coattail Investors Follow?

When attempting coattail investing, following those who adopt a “buy and hold” strategy could prove beneficial. Because markets move fast, by the time a trade is executed, the most profitable opportunity may have already passed. Buying and holding takes a long-term time horizon or perspective, meaning it could take some of the timing and guesswork out of the equation, making it easier to realize profits.

A copycat investor could choose to copy just about anyone. That said, there are a few choices most commonly used by those who are successful at copycat investing. These include financial professionals and other investors who can influence markets simply by announcing their positions.

Activist Investors

Activist investors are known for causing stocks to rise when they reveal their own investments. These influencers may be ahead of the curve on investment trends, and financial news media reports on the actions of these investors regularly. Activist investors also often publicize their own moves through blog posts or press releases as well. This tends to make it easy for coattail investors to keep up and act accordingly.

Money Managers

People and institutions that manage over $100 million are required to report their holdings to the SEC. The SEC then publishes this information, making it public. Rather than hire a money manager, some copycat investors simply search for investments that large money managers have made and then choose those they think would be best for their own portfolios.

Large Corporations and CEOs

Successful companies that have accumulated cash reserves are challenged with figuring out where to put that money — and coattail investors sometimes follow suit.

For many years, holding cash and bonds was probably the safest option for investors. But bonds and cash have their risks, too, such as interest rate fluctuations and inflation. This has led some companies to look elsewhere for returns, often in the form of alternative investments.

Unlikely Visionaries

Following more nontraditional investors — people outside the financial world who have made successful investments — might not be as profitable as activist investors or proven money managers, but there can still be insight to be gained.

That may include professional athletes or social media influencers. There are numerous examples of both who have made what turned out to be successful investments of various types. Of course, even if you start to mirror an athlete’s or influencer’s portfolio activity, there’s no guarantee that they’ll continue to make wise choices.

While watching athletes or celebrities for investment advice might not be something anyone would recommend, it can bring a unique perspective from outside the echo chamber and herd mentality of those within the financial world. People who come from outside that world tend to have a different outlook and could see something that others miss.

That said, an investor who looks to popular culture icons for investment advice does run the risk of racking up significant losses. It might not be realistic to establish an entire portfolio around this idea. It’s widely believed that in coattail investing, investors should follow only the most esteemed professional money managers.

What Are the Risks of Coattail Investing?

The main risk of copycat investing is that one might end up following an investor who loses, rather than gains. There could also be psychological risks, such as thinking that because one is copying a successful investor’s moves, all personal responsibility has been taken out of the equation.

In reality, investing always comes with risk, and always requires investors to conduct their own due diligence. Unless a copycat investor is using an automated program that buys and sells as soon as a big investor announces their trade, like a robo advisor of one type or another, they will still have to stay on top of their own investments, even if the decisions of what/when to buy/sell are all recommended by someone else.

The Takeaway

Coattail or copycat investing is a strategy that involves mirroring another investor’s market moves. Copycat investing could be pursued in almost any fashion imaginable. It’s possible to follow anyone for investment advice, using their trades as a game plan.

Investors with an interest in pursuing coattail investing would do well to consider sticking to tracking these types of people and their portfolios. But watching others with more experience and preferring to match their actions more often than not can bring a sense of security to some investors. It can also reduce some of the personal responsibility involved in researching investments and trying to decide when to buy or sell.

Ready to invest in your goals? It’s easy to get started when you open an Active Invest account with SoFi Invest. You can invest in stocks, exchange-traded funds (ETFs), and more. SoFi doesn’t charge commissions, but other fees apply (full fee disclosure here).

For a limited time, opening and funding an account gives you the opportunity to win up to $1,000 in the stock of your choice.

SoFi Invest®
The information provided is not meant to provide investment or financial advice. Also, past performance is no guarantee of future results.
Investment decisions should be based on an individual’s specific financial needs, goals, and risk profile. SoFi can’t guarantee future financial performance. Advisory services offered through SoFi Wealth, LLC. SoFi Securities, LLC, member FINRA / SIPC . SoFi Invest refers to the three investment and trading platforms operated by Social Finance, Inc. and its affiliates (described below). Individual customer accounts may be subject to the terms applicable to one or more of the platforms below.
1) Automated Investing—The Automated Investing platform is owned by SoFi Wealth LLC, an SEC registered investment advisor (“Sofi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC, an affiliated SEC registered broker dealer and member FINRA/SIPC, (“Sofi Securities).

2) Active Investing—The Active Investing platform is owned by SoFi Securities LLC. Clearing and custody of all securities are provided by APEX Clearing Corporation.

3) Cryptocurrency is offered by SoFi Digital Assets, LLC, a FinCEN registered Money Service Business.

For additional disclosures related to the SoFi Invest platforms described above, including state licensure of Sofi Digital Assets, LLC, please visit www.sofi.com/legal.
Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform. Information related to lending products contained herein should not be construed as an offer or prequalification for any loan product offered by SoFi Bank, N.A.
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.
Claw Promotion: Customer must fund their Active Invest account with at least $10 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%. See full terms and conditions.
SOIN0523048

Source: sofi.com

Apache is functioning normally

May 25, 2023 by Brett Tams

IMB Wanted; 1% Down, Compliance Products; Training and Webinars Next Week; STRATMOR on Brokers

This website requires Javascrip to run properly.

IMB Wanted; 1% Down, Compliance Products; Training and Webinars Next Week; STRATMOR on Brokers

By:
Rob Chrisman

2 Hours, 50 Min ago

My notes from the MBA’s conference this week continue, including talk about new home sales being +4.1 percent for the month (+11 percent year over year, bringing a smile to builders everywhere). Although most of the focus of the conference was on the secondary markets (although let’s face it, there isn’t a plethora of new investors or products), the primary markets continue to be a discussion topic. Some lenders have seen LOs move into the broker world, some have seen them come back. The transition to being a broker is not always “rainbows and unicorns.” It appears to have better “top line” revenue but what about the “bottom line” when a shop has to pay for their own benefits, marketing, IT support, etc. (STRATMOR has a fine write up on the subject below.) Lenders continue to examine the branch model, whether it is traditional or P&L (revenue) based. The MBA defines an “expense management” branch. These have a high upside, as long as they’re compliant, and hire whoever they want. But cutting back is tough, and management has to do a good job of setting expectations. (Today’s podcast can be found here and this week’s is sponsored by Black Knight. From point-of-sale through post-closing, the company’s trusted loan origination system, Empower, as well as its integrated, end-to-end origination solutions deliver unmatched capabilities, functionality, and support to increase processing efficiencies and lower operational costs for lenders. Hear an interview with Aidium’s Spencer Dusebout on CRM differentiators and ROI.)

Lender and Broker Products, Software, and Services

“Master speed to lead and boost your lead conversion rates with Black Knight’s new webinar series and resource guide combo! Discover insights, innovative strategies, and practical tips in our latest video, “Mastering Speed to Lead in a Digital Era,” to excel in today’s competitive landscape. Don’t miss the comprehensive resource guide, providing actionable steps and valuable resources for immediate implementation. Responding quickly to leads can set you apart from the competition and earn you more business. Start implementing these speed to lead techniques today and watch your conversion rates soar!”

ACES Quality Management unveils ACES PROTECT® Mortgage Compliance Testing Module. Historically, regulatory compliance checks have been complex and cumbersome, making it challenging to perform them quickly and accurately. With the introduction of the first fully integrated compliance engine within a quality control software solution, ACES PROTECT ensures compliance on more loans in less time. With this fully transparent and configurable tool, you will increase productivity while saving time, only pay for the compliance tests you need, and benefit from trusted independent verification, because transparency and accuracy matter. Learn more.

Rocket Mortgage and Rocket Pro TPO have introduced ONE+ by Rocket Mortgage, an exciting new 1% down home loan program that will dramatically increase access to homeownership for millions of Americans. ONE+ is available for qualifying homebuyers whose income is equal to or less than 80% of their area median income (AMI) for single-family homes, including manufactured homes, potentially saving more than 90 million Americans thousands of dollars. Plus, Rocket Mortgage provides a 2% grant towards the down payment! The best part? ONE+ completely covers the expensive monthly mortgage insurance fee for the client, saving up to an estimated $245 per month. Want to learn more about ONE+? Partner with Rocket Pro TPO to take advantage of ONE+ today!

“Turn fixed costs into variable costs on a dime. When the market zigs, lenders need the flexibility to zag. Richey May Advisory brings the mortgage industry expertise and agility you need to convert fixed costs into variable costs. Our difference maker is your ability to outsource services to highly trained experts in a model that fits your needs. Whether that means loan-level accounting, advisory, business intelligence, compliance support, cyber services, internal audits or underwriting automation, we have the tools, knowledge, and experience to deliver value and improve your financial performance unlike any competitor, anywhere. You’ll feel it almost immediately in your day-to-day operations. Even better, you’ll notice the difference in your bottom line. Reach out or visit our website to learn more about how we can help your operation pivot to a better place, no matter which direction the market goes.”

STRATMOR on Brokers

Retail originators, do you find yourself wondering if now is the time to become a broker? Mortgage brokers, are you wondering if you are better off working for a retail lender? Originators scrambling to generate new business with refinances all but gone and purchase volumes down may be considering a change. And lenders in search of additional revenue and cash flows may find the idea of entering the wholesale channel appealing. In the just-released May Insights Report from STRATMOR Group, Senior Partner Jim Cameron digs into the specifics for the wholesale channel. Cameron analyzes trends and offers guidance to lenders considering expansion into the channel and to originators looking at which model is best for them: retail loan officer, corporate or P&L branch manager or maybe becoming a broker. Don’t miss Cameron’s article, “Thinking About Wholesale? Considerations for Mortgage Originators and Lenders” in the May Insights Report.

Webinars and Training

On Wednesday, 5/31, at 11AM Pacific, is a treat for loan originators. James Cameron sold the original Terminator script for just one dollar, a costly mistake that he has regretted ever since. Dave Savage and Todd Bookspan understands the value of foolproof scripts for loan officers, and, unlike Cameron, has no regrets about bringing these conversation frameworks to you completely FREE at SCRIPT-A-PALOOZA 2023. Join top mortgage professionals to learn the best scripts from industry leaders who closed billions in volume last year. Hosted by TrustEngine’s Dave Savage and Win by Noon’s Todd Bookspan plus featuring advice from bestselling author Phil M. Jones, this live event will give you the winning words to close more loans, win referrals and overcome market challenges. Register and say “hasta la vista, baby,” to tired, unproductive interactions!

Join MCT on June 1st at 10am PT for its upcoming webinar discussing Strategies to Improve Profitability in the Current Market. In this webinar, MCT’s Phil Rasori and Paul Yarbrough will provide a current market overview and include actionable insights to improve profitability for lenders. Attendees will receive key hedging, trading, best execution, and MSR recommendations, as well as how to leverage technology to improve profitability and efficiency. MCT also recently released a new whitepaper on Mortgage Pipeline Hedging 101. The whitepaper reviews information on moving to mandatory, the strategy of hedging, the benefits of hedging, and how to determine if you are ready. Read the whitepaper to learn how you can use hedging as a tactic to mitigate risk and optimize profitability when selling mortgage loans.

Class is back in session, June 1, noon ET, for lenders who want to understand more about mortgage servicing rights (MSR) assets. Optimal Blue industry experts are hosting a complimentary webinar, MSR 201: The Impact of Interest Rate Moves on Servicing Valuations, on June 1. This session will focus on how interest rates impact the valuation of servicing and how you can measure the sensitivity of servicing to moves in interest rates.

Make sure your business advertising is compliant at the MMLA Thursday, June 1 luncheon 11:30 a.m. – 1:00 pm at the Traverse City Country Club. The cost is $35 per member and $40 per non-member. Melissa Bridges, Attorney at Bodman, will discuss compliance rules for advertising, social media posts, gifts, and other promotional items.

Class is back in session for lenders who want to understand more about mortgage servicing rights (MSR) assets. Optimal Blue industry experts are hosting a complimentary webinar, MSR 201: The Impact of Interest Rate Moves on Servicing Valuations, Thursday, June 1, 9-10AM PT. This session will focus on how interest rates impact the valuation of servicing and how you can measure the sensitivity of servicing to moves in interest rates. Today more than ever, it’s critical to understand the drivers of servicing profitability and how the current state of the rate market impacts that valuation. Understanding the sensitivity of your portfolio can help arm decision makers at your organization with the right intel to make the right decisions.

IMN’s Annual Non-QM & Non-Agency Mortgage Forum is June 1-2 at the Waldorf Astoria Monarch Beach, in Dana Point, CA. This forum will be constructed from both the loan origination and investor perspectives, diving deep into the critical issues facing the industry. At this event, you will meet senior professionals in the market consisting of Correspondents, Wholesale Originators, Investors/Capital Market Leaders, Servicers, Brokers, and many more at this two-day event. Check out a sample of panel topics of past registered companies, view The 4th Annual Non-QM & Non-Agency Mortgage Forum.

Capital Markets

The Fed Funds futures market, like oddsmakers in Las Vegas, are now saying there’s a 38 percent chance of another 25-basis point (.25 percent) hike in June as employment continues to be strong, banking issues quiet down, and inflation continues to be relatively high. Speaking of which, home prices peaked around June of last year, so we should start seeing the decline in prices percolate through to the yearly inflation indices. Investors were also focused on the FOMC Meeting Minutes from May yesterday, which showed that policymakers believe that there is an upside risk to the baseline inflation forecast and there is an expectation among officials that a “mild” recession will begin later this year. Throwing a curveball in the mix were hawkish comments from Fed Governor Waller, who indicated that the Fed could pause at the June meeting only to re-start in July should inflation continue to come down slower than expected.

Even with some intraday volatility yesterday, bond prices dropped by the close as debt ceiling negotiations continued to dominate headlines. We are one day closer to the June 1st deadline Treasury Secretary Yellen identified as the date when the U.S. Treasury would potentially run out of money.

The second look at Q1 GDP (+1.3 percent, up from +1.1 percent; +4.2 percent annually, stronger growth than forecast; core PCE +5.0 percent annually) and weekly initial jobless claims (229k, up 4k from a revised 225k) led off today’s calendar. GDP was expected to increase 1.0 percent versus 1.1 percent previously, with the core PCE deflator unchanged at 4.9 percent year-over-year. Later today brings the Pending Home Sales Index for April, KC Fed manufacturing for May, and a Treasury auction of $35 billion 7-year notes. Two Fed Presidents are also scheduled to speak, Richmond’s Barkin and Boston’s Collins. We begin the day with Agency MBS prices worse a solid .125 and the 10-year yielding 3.75 after closing yesterday at 3.72 percent; the 2-year is up 50 basis points in 10 days to 4.39 percent!

Employment

A well-capitalized bank is searching for a mortgage banking shell with Agency approval that has had no, or minimal, residential production, over the last three years. Confidential inquiries can be sent to me for forwarding.

A Title Insurance Agency located in a prestigious office building in Melville, Long Island, with a staff of 12 has an empty corner office with additional desk space in the main area. Any individual or individuals looking for a satellite office or primary space will have access to all employees as well as all the office equipment. Let’s discuss an arrangement that will benefit all parties. If interested, please reach out to Anjelica Nixt and specify this opportunity.

A regional independent mortgage banker, based in the Midwest, is looking for a compliance officer. The lender has Fannie, Freddie, and Ginnie tickets, servicing, and a full suite of products including bridge loans, DPA, and renovation. The perfect candidate will have at least ten years’ experience working at a multi-billion dollar IMB, including Disclosures, QC, Vendor Management, Exams, and State/Federal reporting. If you are interested, please send your confidential resume to Chrisman LLC’s Anjelica Nixt for forwarding.

Are you a loan officer or mortgage banker frustrated with the constraints of retail lending? Tired of competing against lower rates, fees and closing costs? Then now’s the time to take control of your pipeline and career by making the switch to wholesale lending as an independent mortgage broker. Whether you’re looking to open your own brokerage or join a team as a loan officer, you can get up and running without missing a beat with support from the team at BeAMortgageBroker.com. You have nothing to lose and only clients, greater flexibility and compensation to gain.

“Things are heating up and we are adding to our team. At AFR Wholesale®, we are looking to expand our Account Executive teams for both our Wholesale and Correspondent Divisions! We have been streamlining procedures, developing more communication channels, and overall speeding up our loan processes. Now we need more hands-on deck to join our family! We like to offer a close community that feels like home to thrive and make dreams become a reality. We are looking for experienced candidates because at AFR, we recognize that some scenarios can be challenging, and we want to provide a home for all possible circumstances. That is why we do what we do. At the end of the day, it’s about being proud, we made it possible to turn a house into a home. AFR is an equal opportunity employer. APPLY NOW! Contact AFR by going here, email us or call 1-800-375-6071.”

“PrimeLending delivers LOs award-winning support from day one and beyond. Just last week, our national training team struck gold two times at the Association for Talent Development Annual Axis Awards, winning first place for programs designed to help LOs gain the skills needed to excel in today’s marketplace. Our training team won the Technology Application award for revolutionizing remote learning with innovative tech like NovoEd, and the Performance Improvement award for demonstrating the positive impact training programs have on production. What does that mean for LOs? Easier onboarding. Faster productivity. Better efficiency. More confidence. Our training team understands the unique challenges and opportunities in the industry, ensuring loan officers stay ahead of the curve. For your professional growth and achievement, reach out to Nic Hartke today and discover how PrimeLending can pave the way to success.”

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Source: mortgagenewsdaily.com

Apache is functioning normally

May 25, 2023 by Brett Tams

Renting from corporate landlords versus private landlords can offer two very different experiences. Each has its pros and cons and can be the right fit depending on your needs.

Property management firms oversee most properties owned by corporate landlords. These may include real estate investment trusts (REITs), which allow investors to put their money into a wide range of properties. The largest one in the U.S. is Starwood Capital, a REIT in Miami that had 115,000 rental units in 2022, according to Statista.

Many private landlords with smaller holdings manage their own properties. The 2018 census data found that individuals own about 70% of rental properties, as reported by Pew Research. The tasks they’re involved in may include tenant screening, property upkeep and rent collections.

As you can imagine, a private landlord may offer a much more hands-on approach. Renting from a corporate landlord places the majority of responsibilities on a property manager.

Let’s break down the differences and explore which type of landlord may be right for you.

Property repairs and maintenance

According to Porch, landlords, on average, receive about six repair calls per year from tenants. If something breaks down in your rental, you call a private landlord directly.

The time you may have to wait for a repair or replacement depends on their responsiveness and the availability of tradespersons in the area. Of course, if your landlord, who is also a contractor, lives next door, you can expect fast and more personal service.

A property management firm usually requires filling out forms which are then directed to maintenance. This may result in timelier requests, depending on the number of properties under their care and how busy maintenance is. If they’ve been in the business for a while, they may also have vendors in place for specific requirements. Many also offer 24/7 service in emergencies, such as blocked plumbing.

Direct communication

Renting from a private landlord translates to direct communication between you and the owner of the property. This direct line may offer greater flexibility as the owner might handle requests on a case-by-case basis.

For example, if your past entailed a rough patch that resulted in a low credit score, a private property owner is more likely to work with you. Should issues arise during your tenancy, such as a delayed rent payment, you may be able to talk to your landlord and work out a payment plan.

A larger firm usually has stricter policies and procedures in place. As a result, they are often less flexible when it comes to pet policies, lease terms, deposits and rent prices. You may also pay slightly more for a rental that a professional property manager oversees, as the owner must factor in their costs.

Interacting with your landlord

A private landlord may live nearby. While this may result in faster repairs, it can also lead to running into each other regularly. Depending on their nature, this may be a welcome addition or an uncomfortable intrusion.

Unless you make friends with your property manager, chances are you will rarely meet up. These professionals are usually busy keeping their properties running smoothly and rented out.

Procedures and protocols

A landlord’s role is to provide a secure and safe home. While most private landlords take this seriously, they may not always know the acceptable minimum standards.

A professional management firm knows the law and has procedures and protocols in place for their rental units. These companies are generally trained and licensed in real estate.

For instance, if a wild animal, such as a skunk, decides to make a home under your deck, they may have experienced this before and understand the immediacy. They may also know wildlife relocators in the area to contact.

On the downside, written protocols may also include a faster response to a late payment. One study found that some large corporate landlords were more likely to file eviction notices.

The importance of amenities

Private landlords generally oversee single homes or smaller multi-family units. Taking care of the lawn and yard and plowing snow in the winter may fall under the responsibility of the renter. On the plus side, this property type can offer greater privacy.

In contrast, large multi-unit apartment buildings tend to attract corporate landlords. These may offer many amenities, including swimming pools, gyms, tennis courts and security. Consider your lifestyle and preferred setting when selecting a property that could be your home for a year or more.

Checking out your potential landlord

Just as a landlord checks their tenants, you should appraise your landlord. If a property management firm, check their credentials. For instance, if they are a member of the National Association of Residential Property Managers, you know they receive ongoing education and training and agree to abide by ethical standards. You can also check their ratings on Yelp.

If a REIT or other corporate landlord owns your rental, Google them to see if they’ve made the headlines, for better or worse.

If they are a private landlord, check for reviews and watch for rental scams. If possible, talk to current renters. Ask about anything especially important to you, whether maintenance, privacy or noise level.

What type of landlord is right for you?

If you enjoy a personal, hands-on experience, you may want to consider a private landlord. If you’re looking for a business-minded professional that goes by the books, a corporate landlord and professional management firm may be your best bet.

Still looking for a place to live in your target city? Start here.

Source: rent.com

Apache is functioning normally

May 25, 2023 by Brett Tams

Update: Some offers mentioned below are no longer available.

In 2020 and 2021, many major hotel companies offered some of their most generous promotions. That’s how some TPG staffers achieved top-tier Hyatt Globalist with just 10 nights. But those days are far behind us.

Overall, hotel promotions aren’t quite as generous as they once were. But from helping you accrue additional points to earning elite status faster, they certainly should be on your radar.

However, keeping track of the latest hotel bonuses can be difficult — especially if you’re juggling points and elite status with multiple programs. With that in mind, we’ve created this guide to track current promotions across the major hotel chains.

Most of these promotions require you to book directly with the hotel chain. Bookmark this page for regularly updated offers, links and other information about your favorite hotel programs. We’ll also discuss which offers will get you the most bang for your buck.

This article focuses on limited-time promotions, excluding ongoing offers like AAA and AARP member discounts. Further, the list doesn’t include ongoing offers on cobranded hotel credit cards, but you can check out the following links for details on these cards:

Related: 6+ unexpected travel discounts that can save you money

Limited-time credit card hotel discounts

Use these targeted credit card deals to save on your next hotel stay. HYATT

Amex Offers, Chase Offers and Citi Merchant Offers can offer significant hotel discounts. While we didn’t find any current Citi hotel offers, here are a few targeted offers that TPG staff found on their credit cards — check your cards and see if you have them too.

Amex Offers

American Express is currently offering several hotel promotions for select cardholders via its Amex Offers program, including:

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7,500 bonus points after spending $2,000 or more on your card (expires March 31). TPG values 7,500 Marriott points at $63.
Caesars Rewards Las Vegas: $40 back after you spend $200 or more (expires May 31).
Hilton properties in Mexico: $150 back after spending $750 or more (expires April 30).
Hilton’s in the US, Mexico, Caribbean, Colombia, Honduras and French Polynesia (select properties only): $200 back after you spend $1,000 or more (expires May 31).
Hyatt Hotels & Resorts Canada: $100 back after spending $500 or more (expires May 15).
IHG Hotels and Resorts: $40 back after you spend $200 or more (expires June 16).
Lotte Hotel: $100 back after you spend $500 or more (expires Aug. 1).
Lotte New York Palace: $150 back after you spend $750 or more (expires July 23).
Mandarin Oriental: $100 back after you spend $500 or more (expires March 31).
Marriott Bonvoy properties in the U.S., Caribbean, Mexico and Canada: 20% back, up to a total of $50 back (expires March 31).
Marriott Bonvoy properties in the U.S., Caribbean, Mexico and Canada: $60 back after spending $300 or more (expires March 31).
Marriott Homes & Villas: $200 back after spending $1,000 or more (expires May 31).
Riggs Washington, D.C.: $120 back after spending $600 or more (expires April 30).
Sonesta: $60 back after spending $300 or more at properties in the U.S. and U.S. territories (expires April 30).
Staypineapple: $50 back after you spend $250 or more (expires April 3).
The Line Hotels: $60 back after you spend $300 or more (expires April 30).
The Ned NoMad Hotel: $100 back after you spend $500 or more (expires Sept. 4).
Viceroy Hotels & Resorts US & Mexico: $200 back after you spend $1,000 or more (expires May 31).

Remember that Amex Offers are targeted. So, you should check your offers and enroll in any that interest you.

Related: Which is the best American Express credit card for you?

Chase Offers

Chase Offers are targeted. Several of our staffers have this Chase Offer:

Thompson Hotels: Earn 15% back when you spend $100 or more, up to $37.95 (Expires April 21).

Related: Check your Chase Offers to save money with Marriott, Lyft and Carnival

Accor Live Limitless

Accor Live Limitless has a couple of promotions that might help you earn extra points and qualify for status. These promotions require you to register.

Promotion	Details	Register-by date	Dates of stay
4x points at new hotels	Earn 4 times the points at new Accor Hotels.	Deadline passed.	Through May 5, 2023.
Earn bonus status nights with fast track	This targeted promotion isn’t open to members with a U.S. primary address. Classic members will earn f5 status nights toward Silver. Silver members will earn 7 status nights toward Gold. Gold members will earn 10 status nights toward Platinum.	Deadline passed.	By May 2, 2023.

Promotion

Details

Register-by date

Dates of stay

4x points at new hotels

Earn 4 times the points at new Accor Hotels.

Deadline passed.

Through May 5, 2023.

Earn bonus status nights with fast track

This targeted promotion isn’t open to members with a U.S. primary address.

Classic members will earn f5 status nights toward Silver.

Silver members will earn 7 status nights toward Gold.

Gold members will earn 10 status nights toward Platinum.

Deadline passed.

By May 2, 2023.

Related: The award travelers guide to Accor Live Limitless

Best Western Rewards

Best Western’s promotion allows you to earn up to 16,000 bonus points, which requires registration. Here are the details:

Promotion	Details	Register-by date	Dates of stay
Stay two nights and get 8,000 bonus points (up to two times).	Complete two separate or consecutive eligible nights to earn 8,000 bonus points following completion of the eligible nights. Valid only on Best Western-branded U.S., Canada and Caribbean stays.	N/A.	Stay by May 7, 2023.

Promotion

Details

Register-by date

Dates of stay

Stay two nights and get 8,000 bonus points (up to two times).

Complete two separate or consecutive eligible nights to earn 8,000 bonus points following completion of the eligible nights.

Valid only on Best Western-branded U.S., Canada and Caribbean stays.

N/A.

Stay by May 7, 2023.

Related: Your ultimate guide to Best Western Rewards

Choice Privileges

Choice Privileges is back with a promotion advertising a gift card, but cashing out your points for the gift card isn’t required. You can read more about their ongoing deals here.

Promotion	Details	Register-by date	Dates of stay
Bonus points after two paid stays	Earn between 5,000 and 8,000 bonus points on the second paid stay. Choice advertises this promotion as being enough points for a $50 gift card, but you can keep the points instead.	N/A.	Stay by June 30, 2023.

Related: The best hotel credit cards

Hilton Honors

Hilton has been generous with its recent promotions. Note that the Double Up + Explore promotion requires you to register. For more details, visit this page.

Promotion	Details	Register-by date	Dates of stay
Double Up + Explore	Earn double points and 1,000 bonus points (worth $6 at TPG’s valuations) for each of Hilton’s 18 brands you stay at during the promotional period.	N/A.	Stay by April 30, 2023.
Free bonus points at Hilton’s newest properties.	Earn 1,000 Hilton Honors points per night at select properties. Earn 5,000 Hilton Honors points per three-night stay or longer at select properties.	N/A.	Ongoing promotion.

Promotion

Details

Register-by date

Dates of stay

Double Up + Explore

Earn double points and 1,000 bonus points (worth $6 at TPG’s valuations) for each of Hilton’s 18 brands you stay at during the promotional period.

N/A.

Stay by April 30, 2023.

Free bonus points at Hilton’s newest properties.

Earn 1,000 Hilton Honors points per night at select properties.

Earn 5,000 Hilton Honors points per three-night stay or longer at select properties.

N/A.

Ongoing promotion.

Related: How to choose the best Hilton credit card for you

IHG One Rewards

You can earn bonus IHG One Rewards points with the loyalty program’s latest promotion, but you must register

Promotion	Details	Register-by date	Dates of stay
2,000 bonus points every 2 nights	Earn 2,000 points for every two nights of eligible paid stays.	N/A	Feb. 9 to April 14, 2023.

Related: 7 ways to earn more IHG One Rewards points for your next redemption

Marriott Bonvoy

Marriott is offering an appealing promotion for points and elite status seekers. Check your “promotion central” to see if you have any targeted promotions.

Promotion	Details	Register-by date	Dates of stay
Delight in the unexpected: Earn twice each night	Earn 1,000 bonus points (worth $8.40 based on TPG’s valuations) and one elite bonus night for each night you spend at a Marriott Bonvoy-branded property at a qualifying rate (award stays are excluded.).	April 9, 2023.	Feb. 7 to April 23, 2023.

Related: The award travelers guide to Marriott Bonvoy

Radisson Rewards Americas

Here’s one noteworthy promotion from Radisson Rewards Americas. Make sure to register.

Promotion	Details	Register-by date	Dates of stay
First time’s a charm	Earn 3,000 bonus points for your first booking in the app.	N/A.	Ongoing promotion.

Related: Here’s why Radisson Rewards is the best loyalty program for earning free nights

World of Hyatt

World of Hyatt recently launched its latest Bonus Journeys promotion. Here’s a high-level overview of Hyatt’s promotions.

Related: The most award-friendly hotel program: Everything you need to know about World of Hyatt

Wyndham Rewards

Wyndham Rewards has two generous promotions now — both require you to register. Here’s an overview.

Promotion	Details	Register-by date	Dates of stay
Stay 3 nights, earn 2 free	Book three qualifying nights at participating hotels in Europe, Africa, Eurasia or the Middle East and you’ll earn 15,000 Wyndham Rewards bonus points (enough for two nights at some Wyndham properties).	April 30, 2023 (also the book-by date).	By Sept. 30, 2023.
Earn 1,500 bonus points	Targeted promotion.	N/A.	Ongoing promotion.

In addition, there are limited-time offers through Wyndham’s member month promotions — including property credits and a broader free-night offer.

Additional reporting by Ehsan Haque, Ariana Arghandewal, Katie Genter, Ryan Smith, Caroline Tanner and Benji Stawski.

Source: thepointsguy.com

Apache is functioning normally

May 25, 2023 by Brett Tams

Northwestern Mutual, Special Spaces Recognize 10-Year Anniversary of Company’s Childhood Cancer Program with 10 Dream Bedroom Makeovers HGTV star Mina Starsiak Hawk collaborates on latest bedroom reveal for a child in her hometown MILWAUKEE, Nov. 17, 2022 /PRNewswire/ — In recognition of its Childhood Cancer Program’s 10-year anniversary, Northwestern Mutual, through its Foundation, collaborated with Special … [Read more…]

Apache is functioning normally

May 25, 2023 by Brett Tams

Mortgage Q&A: “What is the easiest type of mortgage to get?”

Relative to other types of loans, it can be difficult to get approved for a mortgage.

After all, mortgage lenders typically require a tri-merge credit report, steady income and employment, and assets in the bank.

They don’t just take your word for it like they might on a credit card application.

All of those items must be documented to ensure you’re a creditworthy borrower capable of financing a piece of real estate.

Easiest Types of Mortgages to Get, Ranked

1. FHA loan (lowest combination of credit score and down payment)
2. Conforming loan (lower min. down payment but need 620 FICO)
3. VA loan (zero down and no min. FICO but must be active duty/veteran)
4. USDA loan (zero down, no min. FICO but must be rural location and there are income limits)
5. Jumbo loan (usually need 10%+ down payment, 680+ FICO, and asset reserves)

FHA loans are the easiest mortgage to get because of the 3.5% down payment and 580 minimum FICO score required.

Conforming loans are a close second, despite a lower 3% minimum down payment, due to the higher 620 minimum FICO score required.

Both USDA and VA loans don’t require a down payment and technically don’t have a minimum FICO requirement, but are more specialized products. Thus not as easy.

Jumbo loans are typically the hardest to get because they are larger (loan amounts) and aren’t backed by Fannie/Freddie or the government.

Tip: If you already have a mortgage, a streamline refinance can be even easier to qualify for.

The Answer Depends on What Your Issue(s) Might Be

Before we get down to the nitty gritty, I should note that there isn’t a universal answer to this question.

It depends what may make obtaining a home loan difficult to begin with.

Are your credit scores not all that good? Do you have limited income? No money in the bank? Or perhaps a combination of all these items?

The first thing you should do is self-evaluate. Take a look at your income (and employment history), your credit report (and scores), and your assets.

Would you lend yourself a mortgage? Funnily enough, even if you wouldn’t, there’s probably a lender that would!

Jokes aside, take the time to do this to see where you stand before you apply for a mortgage.

Easy street isn’t necessarily the best avenue to take when it comes to home loan financing.

Now let’s discuss particulars based on some common issues.

If You Lack a Down Payment for a Mortgage

If down payment funds are your problem, there are plenty of zero down home loan options out there.

The two most common are VA loans and USDA loans. However, these are reserved for military/veterans and those buying in rural areas, respectively.

Assuming either of those are YOU, the down payment is no longer a hurdle. They allow 100% financing.

Even if you don’t qualify for those loan types, there are credit unions that offer zero down mortgages.

And many state housing finance agencies that offer grants and down payment assistance.

Some private lenders also offer grants. Rocket Mortgage launched “Purchase Plus” in late December.

It offers up to $7,500 in closing cost credits for first-time home buyers to use toward their mortgage costs.

Purchase Plus is available in specific census tracts in Atlanta, Baltimore, Chicago, Detroit, Memphis and Philadelphia.

And Guaranteed Rate just launched a “Special Purpose Credit Program” in the same cities that provides up to $8,000 in assistance to underserved borrowers.

That’s a minimum of $5,000 in down payment and closing cost assistance, and up to an additional 1% of the sales price (or $3,000).

Many Types of Mortgages Only Require a 3-3.5% Down Payment

Even if you don’t qualify for zero down financing, conforming loans backed by Fannie Mae and Freddie Mac only require 3% down.

Conforming loans are the most common type of mortgage, offered by pretty much every bank and lender in the nation.

Fannie Mae’s offering is known as HomeReady Mortgage, while Freddie Mac’s is called Home Possible.

Both require a minimum FICO score of 620, which is pretty low and what some would consider easy to qualify for.

Additionally, they allow for boarder income so roommates/renters can contribute to your income to help qualify for the loan.

If you don’t have a 620 FICO score, there’s the FHA loan, which requires a minimum score of 580 with 3.5% down payment. Or as low as 500 if you can muster 10% down somehow.

If Your Credit Scores Are Low…

If you’ve got decent income and assets, but your credit scores are a problem, you still might be in luck.

For example, there is no minimum credit score requirement for VA loans, per the VA.

But individual lenders will still impose their own limits, which may be 580 or higher. Still, that’s very accommodating.

The USDA home loan program also doesn’t impose a minimum credit score, but most lenders want a 640 FICO or higher.

As mentioned above, Fannie Mae and Freddie Mac require a minimum 620 FICO. However, it’s possible to get approved with a lower score if you have a co-borrower with higher scores.

And the FHA only requires the 580 FICO for max financing (3.5% down).

So you’ve got several very liberal options to choose from that approve those with pretty low credit scores.

If Your Income Is Limited…

If income is your problem, you may still not have any issues as most home loan types are also pretty flexible in this department too.

With regard to your debt-to-income ratio (DTI), a conforming loan backed by Fannie Mae will allow a DTI ratio as high as 50%.

The FHA can go even higher, to a staggering 56.9%. The VA doesn’t have a maximum DTI, and can also go quite high depending on the circumstances.

USDA loans are generally stricter and want a DTI of 41% or lower, but may allow up to 46%.

Even if income is an issue for you, there’s the possibility to use a co-borrower or boarder income to help you qualify.

[What Mortgage Has the Best Rate?]

If You Are Recently Employed…

While income is one thing, employment history is another. Mortgage lenders are happy you’re making what you’re making.

But they want to know that you’ll be making that money consistently into the future. Mortgages can last 30 years, remember?

This means they typically want to see a two-year employment history to consider the income stable.

But once again, there are exceptions to the rule and it’s often possible to qualify with less than two years employment. Or even one year.

Across all loan types, a letter of explanation and supporting documentation may allow for limited employment history.

For example, a recent graduate may qualify for a mortgage if employment is likely to continue. Same goes for a medical school graduate (see physician mortgages for more on that).

Ultimately, there are lots of ways around the typical two-year requirement if you can demonstrate employment stability.

It also helps if you have good credit and/or money in the bank to offset such a risk.

Jumbo Loans Are Probably the Hardest Mortgages to Qualify For

While I’ve hopefully highlighted the fact that most mortgages are actually pretty easy to qualify for, there’s one category that isn’t.

I’m talking about jumbo loans, which exceed the conforming loan limit. These loans are offered by jumbo lenders, and are often backed by the companies themselves.

But here’s the thing – the 2023 conforming loan limit is $726,200. And the high-cost loan limits (for expensive areas of the country) are a whopping $1,089,300!

In other words, most folks don’t need a jumbo loan anyway.

If you do, expect higher down payment requirements, higher minimum FICOs, and larger reserve requirements.

After all, you’re asking to borrow a lot of money, so you better be good for it.

This might entail a minimum down payment of 10-20%, FICO scores of 680 and up, lower DTI ratios, and several months of reserves in the bank.

If You Have to Ask What Is the Easiest Type of Mortgage to Get…

Those who read the sections above should realize it’s fairly easy to qualify for a mortgage.

Credit score requirements are super low across all loan types. And DTI ratios are also very forgiving in most cases.

The same goes for employment history and asset/reserve requirements.

And the fact that you can often employ gift funds or a co-borrower to help qualify is the icing on the cake.

But if you have to ask the question, you may want to reassess your decision to rent vs. buy.

There’s a reason all these minimum requirements are in place. And there’s a reason why it takes around a month to get a mortgage.

It’s a big deal and the decision shouldn’t be taken lightly. Additionally, those who are adequately prepared should qualify for the lowest mortgage rates with the best terms.

So instead of focusing on easy, focus instead on how to qualify for the best rate.

Read More: 21 Things That Can Push Your Mortgage Rate Higher

Source: thetruthaboutmortgage.com

Apache is functioning normally

May 25, 2023 by Brett Tams

Florida Gov. Ron DeSantis might be best known these days for his “war on woke.” He’s generated daily headlines for his “Don’t Say Gay” bill in schools, his battles against Disney, and the travel advisories issued against the state by the NAACP and LGBTQ organizations.

However, his housing policies haven’t generated nearly as much attention.

After months of fueling rumors, DeSantis formally announced his bid for the U.S. presidency on Wednesday. What would that mean for the housing market if he wrests the Republican nomination from real estate mogul and former President Donald Trump and wins the general election in 2024? (Currently, Trump has a sizable advantage in the polls among likely GOP voters.) Realtor.com® looked at the No. 2 Republican contender’s housing-related priorities during his four-plus years as governor of the Sunshine State for clues.

“His experience as the governor of Florida has certainly exposed him to the housing market and its issues,” says Sean Snaith, director of the Institute for Economic Forecasting at the University of Central Florida in Orlando. “He’s intimately familiar with the shortage of housing that has plagued our state.”

Florida experienced tremendous growth during the COVID-19 pandemic as companies expanded and legions of folks moved to the Sunshine State. It was the nation’s fastest-growing state last year, according to the U.S. Census Bureau. The median home list price in Florida shot up 42%, to about $468,000, from April 2020 to April 2023, according to Realtor.com data. Rental prices also surged throughout the state during the pandemic.

This year, DeSantis has passed bills geared toward creating more housing, providing assistance to first-time buyers, as well as restricting international buyers from certain countries from purchasing real estate in Florida. The government has also responded to the devastation wrought by hurricanes and flooding by making changes to Florida’s property insurance industry.

The legislature has also been forced to confront the state’s affordability challenges. For years, the state had typically been reallocating the money from its affordable housing trust fund to other projects. In 2021, the legislature agreed that a third of that money will be spent on housing, while the rest can go to other priorities.

Democrats have blasted diverting the money away from housing during such a severe real estate shortage.

DeSantis and Trump will have plenty of competition from other Republicans vying for the nation’s highest office. Former South Carolina Gov. Nikki Haley announced her candidacy in February. South Carolina Sen. Tim Scott threw his hat in the ring this week, and former New Jersey Gov. Chris Christie is expected to enter the fray. New Hampshire Gov. Chris Sununu and former Vice President Mike Pence are also likely to run.

Whoever wins the 46th presidency—from either side of the aisle—will have a major challenge in tackling the housing crisis.

“It would have to be concerted efforts from all levels of government,” says Snaith. “We need to help expedite the process for developers from going from paper to getting these housing units off the ground.”

DeSantis tries to create more affordable housing

In March, DeSantis signed an affordable housing plan that invested more than $700 million to provide low-interest loans to developers building workforce housing in Florida, down payment and closing costs assistance for first-time homebuyers, and the redevelopment of underused properties near military installations.

The Live Local Act is also expected to make it easier to convert commercial buildings into housing by bypassing local zoning boards, building height requirements, and local density regulations.

While superseding local authorities and zoning regulations can lead to a strain on local infrastructure—such as more traffic, crowding in schools, and other growing pains—the housing shortage “trumps” these concerns, says Ken Johnson, a real estate economist at Florida Atlantic University in Boca Raton.

“This will start to increase the supply of housing rather rapidly. We just need units built right now,” says Johnson. “We are still in a rental crisis here.”

He was less enthusiastic about the $100 million provided for down payment and closing costs assistance. The money will fund the Florida Hometown Heroes Housing Program, which the governor announced the creation of last year. It’s geared toward eligible first-time buyers who work in critical professions such as law enforcement, firefighting, education, health care, and child care, and active military or veterans, among others.

“There’s not enough money behind them to make a dent,” says Johnson.

The Live Local Act also prohibits towns and cities from enacting rent controls.

The state of Florida is short about 444,000 affordable and available rental homes for extremely low-income renters, according to the National Low Income Housing Coalition.

“It has been more pocket change than real substantial solutions to the problem,” says Jack McCabe, who runs an eponymous housing consultancy in Southern Florida. “Seven hundred eleven million dollars looks like a lot of money, but the truth is it could take billions and billions of dollars to correct the problem.”

Restrictions on who can buy homes in Florida

Last week, DeSantis signed a bill to prohibit many Chinese citizens who aren’t legal U.S. residents from purchasing real estate in the state of Florida. The bill also bans citizens from six other countries—Russia, Iran, North Korea, Cuba, Venezuela, and Syria—from buying farmland that is located within 10 miles of military sites and critical infrastructure.

In addition, as of July 1, the new law will require some Chinese nationals to register the real estate they already own and whatever they buy with Florida’s state government.

The law has been criticized by Democrats, Asian American leaders, and some real estate professionals.

“The law is very restrictive,” says Dan Lionetta, president of the Asian American Real Estate Association of America, Greater Jacksonville Chapter. He is also a mortgage lender at Movement Mortgage. “We are certainly not in favor of the law and anyone, from any country, being limited regarding purchasing real estate.”

Real estate economist Johnson believes a bill like this “distorts” the market by dictating who can and who cannot buy.

“It will negatively impact price, although I think it will be marginal,” says Johnson. “We’re simply cutting the demand for real estate.

Tackling Florida’s hurricane and flooding issues

Last year, DeSantis signed a Republican bill to prop up Florida’s property insurance system as many companies have gone out of business and others are struggling due to the extensive damage wrought by storms and flooding. The bill raises costs for some homeowners while providing tax rebates for residents affected by Hurricanes Ian and Nicole. It will also force some homeowners out of receiving coverage from the state-created insurer.

As a result, many Floridians expect their already high flood insurance premiums to double this year.

“Many people are being forced to sell their homes and move,” says housing consultant McCabe.

However, the governor has also signed bills into law to give homeowners a break. One prevents insurers from refusing to cover homeowners if their roof is less than 15 years old. And in the wake of the Surfside condo collapse, buildings that are three stories and higher must be inspected after 30 years and then receive additional inspections every 10 years. Buildings that are within 3 miles of the coast must start undergoing inspections after 25 years.

The governor also approved setting $150 million aside last year to be used for grants for homeowners who want to retrofit their homes to be more resistant to hurricanes.

“The overall impact [of a DeSantis presidency] is hard to say right now,” says Johnson. “It’s a toss-up.”

Source: realtor.com

Apache is functioning normally

May 25, 2023 by Brett Tams

[Note from editor: The “Mastermind Showcase” highlights companies and news from members of the GEM. Today’s showcase: Courted]

An AI-powered Brokerage Talent Solutions, Courted is bringing connected professional networking and workflow to help make data-driven marketing, hiring, and referral decisions. Their predictive analytics help customers maintain high retention rates by proactively identifying agents that are up and coming or likely to leave. For recruitment, Courted offers Sales Volume Forecast models to find profitable agents overlooked by the competition and AI-powered attrition scores to show which agents are most likely to join a users team/brokerage. Courted primarily serves agents and team leaders to help them acquire knowledge, insights, and opportunities across the market.

What we like: Providing agents with a network of opportunities to enable success and connection based on merit rather than advertising budget.

Learn More

*Part of 2022 REACH Class

Source: geekestateblog.com

Apache is functioning normally

May 25, 2023 by Brett Tams

Businesses pay market research companies to gather information on what customers like you think. Those market research companies, in turn, pay customers like you to provide that information.

The good news is, this is no longer limited to in-person focus groups. You can now participate in market research from the comfort of your home. You can sign up for apps and sites that will pay you to answer questions.

But some survey apps pay more than others, and they don’t all offer the same types of rewards. Here’s my selection of the best survey apps for money out there if you’re looking to make a little extra money.

What’s Ahead:

Survey Junkie

Rewards for: completing surveys, participating in focus groups, testing products, and sharing web behavior
Redemption options: PayPal credits, bank account transfers, and gift cards for brands like Amazon, Target, Walmart, etc.
Mobile app ratings: 4.6 App Store; 4.3 Google Play

Survey Junkie users start by filling out questionnaires and building their user profiles, which give the platform an idea of their interests and lifestyle. These profiles are then matched to survey opportunities.

Surveys show up in a user’s personal dashboard, and the user can choose which surveys they would like to participate in based on the survey’s pre-disclosed topic, point value, and estimated time of completion.

Completed surveys earn points, which can then be redeemed for PayPal credit, bank transfers, or gift cards. Those who complete three surveys per day can reportedly earn up to $40 worth of credits or gift cards per month. More time-consuming activities like focus groups can earn a higher number of points.

In addition to paid surveys, users can also elect to participate in ‘behavioral research,’ in which they share their web search, browsing, engagement, and shopping history with the platform to earn extra points.

SurveyJunkie is open to residents of the United States, Canada, Australia, and the United Kingdom, ages 16+.

Try Survey Junkie now.

MyPoints

Rewards for: taking polls, doing online surveys, watching videos, playing games, online shopping, downloading coupons
Redemption options: gift cards for Visa, PayPal, or a number of popular retailers
Mobile app ratings: 4.3 App Store; 3.4 Google Play

MyPoints pays you to give your opinion on a wide range of consumer topics, from cars to clothes to home and garden supplies. Payouts for completed surveys range substantially, with some of the more time-consuming surveys offering up to $50 worth of points. Short surveys might yield $1 in points.

Aside from surveys, MyPoints also rewards you for shopping online, which is actually my favorite aspect of the app. It links up to popular retailers I already use, like Amazon, Walmart, Target, and Home Depot, among many others. That means I’m earning points for money I’d be spending anyway.

Best of all, MyPoints helps you save. Not only can you apply coupons to your purchases with your favorite retailers, but you actually earn rewards for downloading them. When combined with the points you’re getting for shopping, you can quickly rack up rewards.

MyPoints lets you cash in your rewards in a couple ways. You can choose gift cards from popular brands like Bath & Body Works, Sephora, or Walmart, or you can convert points to PayPal cash.

Try MyPoints or read our full review.

Swagbucks

Rewards for: completing online surveys, in-home product surveys, playing games, shopping
Redemption options: gift cards from Amazon, Walmart, Target, and Visa or PayPal cash
Mobile app ratings: 4.4 App Store; 4.2 Google Play

If you want to earn dough just for browsing the internet, Swagbucks is a great option. You won’t be able to quit your day job, but it’s a great way to earn a little extra spending money each month. 100 Swagbucks points are worth $1, and most surveys pay out between 40 to 200 points each. Some active users report making a couple of hundred bucks a month with the app.

What I like most about Swagbucks is the variety of points-earning options. Sure, you can earn rewards for answering surveys and shopping, but you also earn by simply trading in Google for the Swagbucks search engine. You’ll be adding points to your total in the background while you search the web and browse various sites.

Once you’ve earned enough points, you can trade them in for gift cards at some of the most popular retailers. You won’t see as many gift card options as you get with other survey sites, but all the big names are there. For instance, Amazon, Apple, Walmart, and Target gift cards are usually available.

Try Swagbucks now.

YouGov

Rewards for: completing paid surveys
Redemption options: cash direct deposit, gift cards
Mobile app ratings: 4.7 App Store; 4.4 Google Play

What drew me to YouGov is the fact that the collected information is sometimes cited online and in news reports. Knowing I’m a part of the group that is referenced in, “According to a survey from YouGov” is an incentive to participate, especially if I’m paid for my feedback.

The biggest issue with YouGov is that it combines paid survey opportunities with those that pay nothing. You’re free to complete those just to take part in the information being collected and distributed. Some members found that paid opportunities were few and far between.

Despite its name, YouGov doesn’t just collect information on political issues. As with other survey sites, you’ll be polled about your thoughts on brands and services.

Try YouGov now.

Opinion Outpost

Rewards for: taking surveys, testing products, watching advertisements
Redemption options: PayPal cash, Visa prepaid cards, gift cards for popular merchants
Mobile app ratings: N/A

You can earn around 10 to 250 points per completed survey with Opinion Outpost, which can add up over the course of a day.

Rewards can be redeemed for a relatively limited selection of gift cards, but the selection at least usually includes major brands like Amazon, Apple, Target, Macy’s, Home Depot, etc. Most gift cards require 100 points for a $10 card value.

One downside to Opinion Outpost is that you’ll have to prequalify before you can take a survey. This is done by answering a few questions before the survey’s available. If you don’t qualify, you’ll be entered in a drawing for a quarterly prize, but it can feel like you put more time in to find a survey you can finally complete.

Another potential downside is that Opinion Outpost isn’t available as a mobile app, so if you’re on the go a lot you’ll have to access the platform from a web browser on your phone.

Join Opinion Outpost now.

Branded Surveys

Rewards for: completing paid surveys
Redemption options: Amazon or Visa gift card, or a PayPal payment
Mobile app ratings: 1.5 App Store

Formerly known as MintVine, Branded Surveys offers rewards for survey participants in the U.S., Canada, and the UK. It partners with some of the top names in the industry, including Nielsen and Harris Interactive. As such, you’ll have more confidence that your feedback will make an impact.

One thing that sets Branded Surveys apart is the volume of surveys. You’ll have to qualify for each one, but having a wider range of options makes it more likely that you’ll find one that’s a match. A great thing about Branded Surveys is if you put time into completing a survey, only to ultimately find out that you don’t qualify, you’ll still be paid a few cents.

Branded Surveys typically pays between $0.50 to $5.00 per survey. You can cash out once you reach 500 points. Aside from the usual gift cards or PayPal credits, with Branded Surveys you can also choose to direct your accumulated points toward a US charity, which is unusual among survey apps.

Join Branded Surveys now.

Pinecone Research

Rewards for: online surveys
Redemption options: PayPal cash payments, paper checks, prepaid cards, or gift cards
Mobile app ratings: 2.4 App Store; 3.0 Google Play

From respected industry leader Nielsen (of Nielsen Ratings fame), Pinecone Research is a great way to earn rewards while also feeling as though your voice is being heard. To get started with Pinecone Research, you simply sign up and wait for approval. Once you’re approved, you’ll start receiving invitations to participate in surveys.

After you’ve set up an account, you’ll be able to view the rewards available, as well as the points you’ll need to earn them. You can trade your points in on small rewards or save up for something bigger. As long as your account remains active, your points never expire. You can also opt to trade your points in for cash, deposited to your account.

One thing that sets Pinecone Research apart is that sometimes members are mailed physical products to try out. In many cases, you get to keep the items after you’ve completed the survey. Some brands ask that you send the products back, though.

Surveys and products are distributed based on the questionnaire information you provide. Many brands request specific audience demographics, so some members receive more offers than others. This makes the questionnaire you complete at signup especially important.

Join Pinecone Research now.

MySoapBox

Rewards for: completing surveys
Redemption options: gift cards from popular merchants, including Amazon, Walmart, and Starbucks
Mobile app ratings: N/A

MySoapBox focuses on surveys, rewarding you for answering questions about products, services, and experiences. It’s available as a web app only, not a mobile app.

1,000 points equate to a $1 value, and you’ll generally get between 750 and 1,500 points per completed survey. You need a minimum of 25,000 points to redeem for a gift card.

MySoapBox is a part of Interviewing Service of America (ISA), one of the largest US-based market research companies. They’ve collected data for businesses since 1982, historically through telemarketing and in-person focus groups, and today facilitating an online option via MySoapBox.

Join MySoapBox now.

Intellizoom

Rewards for: taking surveys
Redemption options: PayPal
Mobile app ratings: N/A

Intellizoom doesn’t mess with rewards and points; you’ll instead earn cash for completing surveys. They don’t send you actual dollar bills, of course. You’ll be paid electronically via PayPal within 21 business days of your survey responses being approved.

The amount you’re paid is based on the complexity of the survey. You can earn up to $10 for more challenging surveys, such as those that require you to record audio or video. Simple surveys usually pay around $2 each.

You may find yourself not as active as you want to be, though. As with other survey sites, you have to wait until you’re invited to participate. Typically, invitations are based on demographics, but you’ll also be graded on the quality of your surveys. You can boost your earnings by making an extra effort to provide useful, well-constructed feedback.

Without an app, you are limited to using the site in a browser. If you can get enough of the more challenging surveys, you could make a decent chunk of change from this site.

Join Intellizoom now.

How I came up with this list

Yes, some survey-for-cash sites can be scammy. It may even sound too good to be true. When I was researching top survey apps and sites, I first narrowed it down to the reputable ones, reading reviews and making sure people had actually gotten paid for their efforts.

Once I had a list of trustworthy sites, I further sharpened it to make sure you were getting the best of the best. Here are the features I considered in my research:

Options for earning points
Redemption options
Difficulty in earning enough points to get rewards
Turnaround time for getting paid after cashing in points

Keep in mind that scams aren’t the only thing to worry about with survey sites. You’ll find that with some sites, the amount of work you have to put in to get even a $10 gift card is far more than with other sites. You can speed up that turnaround time by choosing a site that lets you accumulate points for doing other things, including shopping, gaming, or participating in the site’s community.

How to take surveys for money

A survey app gathers information from consumers, often in exchange for a small amount of pay. You’ll sign up, provide some demographic information, then apply to complete surveys. Taking surveys that you qualify for might be rewarded with gift cards, prepaid cards, or PayPal transfers.

If you’re looking for a way to make a little extra money, a survey app can help. But some people sign up for the rewards, only to find that the real enjoyment comes from providing feedback. The information you provide is used to help businesses improve everything from product design to marketing efforts, so your opinion can be a huge benefit to all consumers.

Those with a little extra time on their hands will likely find a survey app is a great fit. If you’re looking to make hundreds of dollars a week, though, you’ll probably be disappointed.

Most important features of survey apps

Ready to get started? If so, here are some features to consider as you’re shopping around for a survey app.

Points-earning options

What do you have to do to earn points? Surveys are only one option. You can also find apps that will let you earn points for doing web searches, shopping online, watching videos, and more. Also, consider the types of surveys the site offers. Many will simply ask you about your feelings on products or services, but there are some that are political in nature.

Rewards offered

If you’re looking for cold, hard cash, you’ll need to first weed out the sites that only offer gift cards. Although if you’re like me, a gift card to a retailer like Amazon or Walmart can be as good as cash. Many survey apps also allow you to cash out via PayPal, which is accepted at a wide range of online retailers.

Ease of finding surveys

Ideally, you’ll sign up for a site and be able to complete as many surveys as you want. Unfortunately, that isn’t how it always works. Many companies are looking for data from a very specific demographic, so you’ll only be able to participate in some of the available surveys.

FAQs

Are paid survey apps legit?

Even when a survey site is legitimate, it may not pay as much for your time as you’d like. It’s important to note that you should never pay to participate in a survey site. You can find plenty that will let you sign up for free and will pay you, rather than the money flowing in the other direction.

Are survey websites worth it?

Paid survey websites can be a way to earn a little extra cash, but whether they are worth it depends on your personal situation and goals.

While taking surveys may not take a lot of effort, it can be time-consuming. You may need to spend a significant amount of time taking surveys to earn a meaningful amount of money. Most survey sites offer relatively low compensation, so it’s important to consider whether the payout is worth your time investment.

There may be quicker ways for you to make money.

How quickly do survey apps pay you?

Turnaround time can vary, but once you have your points, many of these sites will have your rewards to you within a few days of your request. Some sites that pay in cash may take as long as 21 days, so be sure to plan ahead if you’re depending on the money.

How do paid survey apps make their money?

For decades, companies have depended on focus groups to provide information on market sentiment. Survey apps simply take the process online, letting you participate in surveys without having to go to a designated physical location. Businesses pay market research companies to gather data and provide it, then use the information to inform their own business decisions moving forward.

How I came up with this list

Yes, some online survey sites can be scammy. It may even sound too good to be true. When I was researching top survey apps and sites, I first narrowed it down to the reputable ones, reading reviews and making sure people had actually gotten paid for their efforts.

Once I had a list of reputable survey apps, I further sharpened it to make sure you were getting the best of the best. Here are the features I considered in my research:

Options for earning points
Redemption options
Difficulty in earning enough points to get rewards
Turnaround time for getting paid after cashing in points

Keep in mind that scams aren’t the only thing to worry about with online survey sites. You’ll find that with some sites, the amount of work you have to put in to get even a $10 gift card is far more than with other sites. You can speed up that turnaround time by choosing a survey site that lets you accumulate points for doing other things, including shopping, gaming, or participating in the site’s community.

Summary

Survey apps can be a decent side hustle to make a little extra money within a low-stress framework. But even the highest paying survey apps don’t pay well enough to serve as a replacement for your regular job.

Aside from earning gift cards or cash for your completed surveys, participating in market research can be rewarding in other ways. You’ll know your feedback is being used to influence the direction businesses take, making any rewards you receive a bonus.

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Survey Junkie

MyPoints

Swagbucks

YouGov

Opinion Outpost

Branded Surveys

Pinecone Research

MySoapBox

Intellizoom

How I came up with this list

How to take surveys for money

Most important features of survey apps

Points-earning options

Rewards offered

Ease of finding surveys

FAQs

Are paid survey apps legit?

Are survey websites worth it?

How quickly do survey apps pay you?

How do paid survey apps make their money?

How I came up with this list

Summary

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