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Apache is functioning normally

An unfinished condotel complex in Ft. Lauderdale associated with Donald Trump is facing foreclosure, according to the Sun Sentinel.

Developers reportedly defaulted on the $139 million loan tied to the 298-unit project, known as the Trump International Hotel & Tower.

A foreclosure has been filed against SB Associates LLC, which signed the sizable construction loan back in December 2006, as the mortgage wave was cresting.

It wasn’t long before South Florida became one of the hardest-hit areas in the nation, thanks to massive investor speculation and ridiculous appraised values.

Interestingly, the original lender, Corus Bankshares of Chicago, failed last year, which led to a government-arranged buyout led by Starwood Capital.

The group’s Corus Construction Venture now holds the loan on the 24-story Trump property.

The foreclosure suit, which was filed on March 11 in Broward County Circuit Court (the same one where ex-Countrywide boss Angelo Mozilo faces a civil suit), names more than 80 people who put deposits on the unfinished condos.

There are also a number of related lawsuits from disgruntled buyers who want refunds for their 20 percent deposits – studios and one to two bedroom units were originally priced from about $500,000 to more than $3 million each!

Then there’s Trump, who looked to be a developer and partner before things turned south, but now claims his group only licensed its name to the venture.

Source: thetruthaboutmortgage.com

Apache is functioning normally

While most folks are anxiously awaiting the Fed’s announcement of a potential rate hike, homeowners are continuing to enjoy record low mortgage rates that can be locked in for decades. And that doesn’t appear to be changing anytime soon.

Mortgage rates actually hit rock bottom back in late 2012 and early 2013, depending on the loan product, but on the whole 2016 will be a better year for mortgage rates.

Lowest Average Mortgage Rate in Decades

A new monthly outlook from mortgage financier Freddie Mac revealed that the 30-year fixed mortgage is expected to average 3.6% this year, the lowest annual average in over 40 years.

If you look at the chart above, you’ll notice that rates aren’t quite as low as they were late in 2012, but they’ve been consistently lower all year. That means more borrowers have been able to take advantage of low rates while refinancing existing mortgages or purchasing new homes.

And it couldn’t have come at a better time – mortgage origination volume is slated to hit $2 trillion this year. Perhaps that’s why it will hit $2 trillion…the last time it did was in 2012 after all so it’s all lining up nicely again.

Next year is shaping up to be pretty solid too, with rates on the 30-year fixed only projected to rise to 3.7%. That’s basically unnoticeable for most borrowers.

Offsetting Rising Home Prices

Freddie says the drop in mortgage rates from around 4% at the end of 2015 to roughly 3.5% during the third quarter of this year has “more than offset the rise” in home prices in the majority of markets nationwide.

They claim this will help “preserve homebuyer affordability,” though there’s still that pesky down payment to contend with.

Fortunately, a slew of lenders have released offerings requiring very little or even nothing down. There’s Quicken’s 1% down mortgage, the same at Guaranteed Rate, and a no down payment option at Fifth Third.

And of course Fannie and Freddie’s 97% LTV offering at banks nationwide. That should keep homeownership in reach for most folks, even if they don’t have a lot set aside.

If it seems too late to get in, don’t fret because there’s apparently more home price appreciation on the horizon.

Freddie is revising up its forecast to 5.6% and 4.7% in 2016 and 2017, respectively, from last month’s forecast of 5.3% and 4%.

So there’s still a lot of home price growth expected despite the massive gains already realized. And if you couple a low fixed rate with still decent growth you can’t complain much.

Might Also Be a Good Time to Cash Out

Seeing that rates are so low and home prices are on the rise, it might be a good time to inquire about that cash out refinance if you want some cheap money.

As noted, you can lock in a low rate and get some of that hard-earned equity out of your home to use for whatever it is you might need.

If and when the Fed does start raising rates and mortgage rates eventually follow, you’ll still have your cheap money locked in at that low price for a long time.

Freddie added that cash-out activity has been on the rise, with an estimated $13.3 billion converted during the second quarter, up from $11.4 billion a quarter earlier.

Still, it pales in comparison to the $84 billion cashed out during the second quarter of 2006…

Source: thetruthaboutmortgage.com

Apache is functioning normally

A townhouse is a multi-story home that’s owned by individuals and is attached to at least one other similar unit. This type of hybrid dwelling combines features of a single-family home with a condominium — having some of the benefits and challenges of each. It’s also sometimes called a townhome or a row home or house.

Differences Between Townhomes and Condos

Differences between a detached home and a townhouse may be clearer than differences between a townhouse and a condo. After all, a home is a freestanding structure while a townhouse, like a condo, is part of a complex.

So, how is a townhouse different from a condo? Well, for one thing, although townhouses would share walls with units that are right next to theirs, there wouldn’t be a dwelling above them or below, as could be the case with a condo.

Typically, people who own a condo are responsible for the interior of their units, while funds that they pay into their homeowners’ association (HOA) are used to maintain shared areas and the outside of the building.

Townhouse owners, though, are usually responsible for maintaining the inside and outside alike, which is more like owning a home.

Because townhouse owners are usually responsible for more maintenance than condo owners, their HOA fees are often smaller and they typically have more freedom on how to renovate their dwellings. Neither of these is universally true, though, so it’s important to check the specifics of the property of interest.

Potential townhouse owners may be asking themselves, “Is buying a townhouse a good investment? What are the pros and cons?”

Let’s take a look at the pros and cons of buying a townhouse, along with insights into getting a mortgage loan.

Pros of Buying a Townhouse

Having control over the inside and outside of a townhouse might make it more appealing than the purchase of a condominium. Townhome owners might appreciate how they have more ability to make decisions about their property.
Additional benefits of buying a townhouse include:

More Affordable

A townhouse can be an affordable option in communities with higher home prices, providing a space-savvy housing choice in places where available land can be scarce. Although townhouses may be more expensive than a condominium in a community of choice, they tend to be less expensive than a detached home.

Less Maintenance

Townhouses may be appealing to those that are busy; there’s no big yard that needs time and attention and, if owners travel for work and/or pleasure, security services that may be covered by HOA fees can help to protect the dwelling without any extra steps needed — and the complex may even be gated for added security.

Amenities

There may be great shared spaces and amenities for families to enjoy. These can include gyms and pools, and people who own units each have an ownership interest in these common-area benefits — which means they have a legal right to use them.

You Own the Land

Buyers of a townhouse will actually own the land where the property exists. In contrast, the condo owner would only own their unit, not any of the land. This means that someone owning a townhouse is typically less restricted on how the land could be used, perhaps being allowed to grill dinner outdoors, as just one example.

Pay Less in Property Taxes

Owners of a townhouse usually pay less in property taxes when compared to a stand-alone home. This is typically true because of the smaller lot size.

Townhomes could be ideal for first-time homebuyers who are looking for a more affordable option in densely populated areas. It can also be a good choice for people who aren’t interested in doing much home maintenance.

Cons of Buying a Townhouse

Townhomes may not be ideal for everyone. If you don’t want to share walls with another family, for example, a townhouse may be eliminated.

Other potential downsides of buying a townhouse include:

Limited Lot Size

The limited lot sizes that make it easy to minimize maintenance also means that townhouse owners don’t have the benefits that come with a larger yard, whether that means hosting larger picnics, setting up a swing set for the kids, or creatively landscaping the space.

Less Privacy

Townhouses are less private than single-family homes. While there are no units above or below, as there would be with a condominium, walls are shared and backyards are fairly small. This may be problematic if young children living in the townhouse want to run around and play.

Potentially Many Stairs

Townhouses are built upward to maximize limited land, meaning a townhouse could be three or four stories with only a couple of rooms on each floor. This means stairs. Perhaps lots of stairs. And, if someone in the home has physical challenges or has just had surgery, as just two examples, this can make navigation of the townhouse challenging.

Less Appreciation

In general, the value of a townhouse does not appreciate as quickly as single-family homes. Because of this, it may not make sense to buy a townhouse if the idea is to invest in real estate, rather than simply having a desired place to live.

Recommended: Track the Value of Your Home and Real Estate

After reviewing the pros and cons, is buying a townhouse a good idea? Here’s one more consideration: financing the unit.

Financing a Townhouse

Seeking a mortgage loan for a townhouse is similar to one for a single-family home. That’s because, unlike a condo purchase, the buyer of a townhouse also owns the land beneath the dwelling.

When buying a townhouse, lenders will typically want to see a buyer’s monthly income and outstanding debt to determine their debt-to-income ratio and see how much of a mortgage they can afford.

If the townhouse has HOA fees, those would be included in the mortgage calculations. Just as with a single-family home, it can make sense to get preapproved for a dollar amount before townhouse shopping, save money for a down payment and closing costs, and so forth.

Home Loans at SoFi

Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% – 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It’s online, with access to one-on-one help.

SoFi Mortgages: Simple, smart, and so affordable.

*SoFi requires PMI for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Minimum down payment varies by loan type.

SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility for more information.

SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

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.

Checking Your Rates: To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

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Source: sofi.com

Apache is functioning normally

Mortgage rates are staying flat again today. They’ve stayed in a tight range all week and could remain there as we head into the weekend. It all depends on the monthly jobs report on Friday, though. We could just as easily see that report show some strong numbers and push mortgage rates higher. Read on for more details.

Where are mortgage rates going?                                   

Rates rise after moving lower yesterday

The day is young and already we’ve seen bond yields bounce around several times. At first, we got news out of China about new tariffs against the U.S. This sparked buying in the bond market, pushing up yields.

Then, a very first jobs reading number in the ADP employment situation, which showed 241,000 jobs added in March had the opposite effect, sending yields back up. The ADP report is kind of like the appetizer for Friday’s monthly jobs report from the Labor Department.

But now, bond yields are moving lower once again. Not by much, but they are still down on the day. The yield on the 10-year Treasury note, which is the best market indicator of where mortgage rates are going, is down a little over one basis point.

That’s fairly negligible. Mortgage rates typically move in the same direction as the 10-year yield and are similarly not seeing much movement today. So far this week, rates have stayed in a contained range.

That could change, however, as we make our way to the monthly jobs report on Friday. That report is always one of the biggest market moving events of the month and this time around shouldn’t be any different.

We’ve got a lot of talk and speculation over the past several weeks and months about inflation data and what it all means for the Federal Reserve and their plan to raise the federal funds rate.

At their meeting a few weeks ago, they came out and said that a total of three rate hikes would take place in 2018. As we know with the Fed, their outlook is hardly set in stone.

Depending on what the data says we could always see an adjustment to their policy. With the monthly jobs report, investors will be looking closely at the headline reading, but more importantly, the average hourly earnings reading, to see if there are signs of an uptick in inflation.

If we get a strong headline reading and better than expected growth in wages, we will likely see investors move more into stocks and out of bonds, pushing up the Treasury yields and mortgage rates.

So if you don’t want to deal with the threat of rising rates on Friday, you’re going to want to lock in a rate right now. Mortgage rates seem as though they will remain flat on the week until Friday, so there is definitely a window of opportunity for borrowers to take advantage of.

Rate/Float Recommendation                              

Lock now before rates move higher 

Mortgage rates are staying in a tight range. This is good news for anyone who is trying to lock in a rate on a purchase or refinance. There is a clear risk though this week with the monthly jobs report on Friday. If you want to avoid the potential for rising rates, we recommend that you lock now.

Even if you wait it out this week, the long-term trend is for rates to move higher, so we still think that taking action sooner rather than later is a smart move.

Learn what you can do to get the best interest rate possible.  

Today’s economic data:                                      

ADP Employment Report 

The ADP employment report is showing 241,000 jobs were added to the U.S. economy in March. That’s a very solid number that is much higher than the 185,000 that analysts had expected.

Fedspeak 

  • St. Louis Fed President James Bullard at 9:45am
  • Cleveland Fed President Loretta Mester at 11:00am

PMI Services Index 

The PMI services index hit a 54.0 in March.

Factory Orders 

Factory orders moved up 1.2% in February.

FOMC Minutes  

ISM Non-Mfg Index 

The composite index hit a 58.8 in March.

EIA Petroleum Status Report 

For the week of 4/4/18:

  • Crude oil: -4.6 M barrels
  • Gasoline: -1.1 M barrels
  • Distillates: 0.5 M barrels

Notable events this week:                

Monday: 

  • PMI Manufacturing Index
  • ISM Manufacturing Index
  • Construction Spending
  • Fedspeak

Tuesday:    

Wednesday:      

  • ADP Employment Report
  • Fedspeak
  • PMI Services Index
  • Factory Orders
  • FOMC Minutes
  • ISM Non-Mfg Index
  • EIA Petroleum Status Report

Thursday:        

  • Jobless Claims
  • International Trade
  • Fedspeak

Friday:       

  • Monthly Jobs Report

*Terms and conditions apply.

Carter Wessman

Carter Wessman is originally from the charming town of Norfolk, Massachusetts. When he isn’t busy writing about mortgage related topics, you can find him playing table tennis, or jamming on his bass guitar.

Source: totalmortgage.com

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Grill up something great without going out.

There’s so much to look for in an ideal Austin apartment. Luxury amenities like high-end pools and rooftops full of cushy lounge chairs are where a lot of people start, but there’s more to the perfect apartment than those flashy features.

To many, the only essential amenity for their Austin apartment is a proper outdoor grill setup. From poolside parties to rooftop culinary creations, the apartment grills on this list are second to none in Texas’ capital city.

To find the best apartments with grills in Austin, look no further than the hand-selected standouts below.

Source: Rent. / Austin City Lights

Detailed stonework and bright pops of color combine to create an interesting grilling area at Austin City Lights. Two gas grills and a stunning fireplace are both accented by stone. Fenced off by a black gate, this area sets a mood that’s equal parts classic and cool.

Located in scenic Sweetbriar, you’ll find bright colors all around this meticulously maintained community. Yellow umbrellas lead you to the pool plaza where a small waterfall separates two swimming areas.

Source: Rent. / Sonterra

Full of rustic charm and modern convenience, the grilling and outdoor dining space at Sonterra uses classic design to set a classy tone around the propane grills. There are also two four-top tables, which sit under a wooded pergola with thick pillars. The whole space has a European air to it, which means you’ll enjoy your outdoor meal with a little extra charm.

Just beyond the grilling space, the rustic vibes continue into the pool area thanks to a darker palette for the lounge chairs and the dense border of mature trees encircling the space. You’ll feel like you’re in another place as you float in the pool of this Northwest Austin community.

Source: Rent. / Bridge at Southpark Meadows

Indoor-outdoor convenience permeates the grilling station at Bridge at Southpark Meadows. While not totally enclosed, there is a roof above the grills and prep area, making a sort of barbecue pavilion. With a four-top table alongside the space, it’s easy to go from cooking to eating without traveling far.

Form and function combine in most of the common spaces throughout this Southwest Austin community. In the lounge, you’ll find plenty of plush seating with cool chevron designs running up a section of the wood-paneled accent wall. For the game room, it’s a classic pool table with a red felt top and a modern light fixture that make for an interesting aesthetic and a great spot to entertain.

Source: Rent. / Moonlight

At Moonlight, what impresses most is the poolside outdoor cooking area. You’ve got a sink with running water and a mini fridge. You can clean as you grill and keep those beverages ice cold. Adding these extra features turns this space into a mini kitchen that’s ideal for outdoor cooking and entertaining.

Situated in Southeast Austin, outdoor amenities abound at Moonlight. There’s a great playground for the kids, with two slides and monkey bars. The pool area, which sits right next to the grilling space, is huge. There are more than enough lounge chairs as well as an in-pool sunbathing shelf for those who like to keep their feet wet when working on their tan.

Source: Rent. / Camden Amber Oaks

There are two propane grills at Camden Amber Oaks. This pair of grills in Northwest Austin sit under their own pergola, with two separate prep stations and two four-top, umbrella-covered tables.

With four grills spread out around a huge and luxurious pool, you’ve got the makings for a perfect, relaxing kind of day, and it’s all without leaving home.

Source: Rent. / Tides at South Lamar

The grill setup is sweet at Tides at South Lamar. Two gas grills sit within a wooden plank stand, giving it a retro look. The green picnic table to the side enhances this feel as well. What makes this area even better, though, is the extra seating right off the grilling patio. Under a patch of soaring palm trees, there’s a long wooden picnic table, extra benches and Adirondack chairs.

The park feel of this South Lamar community pops up in other spots around the property as well. The outdoor garden, with raised beds for residents to use, lives in the middle of a great lawn. More trees line up around the beds and a gravel path takes you right to them. And, while the pool area takes a more minimalist approach to its decor, there’s plenty more greenery throughout the property to enjoy at every turn.

Source: Rent. / Grace Woods

Set up to feel more like an outdoor cafe than an apartment grilling area, this space at Grace Woods has all the right touches. There’s also no shortage of seating, whether you’re under a green umbrella at a table or eating on a lounge chair while you soak up more Texas sun.

If you’re dining alfresco with a big group of friends, you can walk your plates over to the outdoor lounge and really get cozy. The space in this Parker Lane community has two long couches and two chairs.

Source: Rent. / The Bridge at Northwest Hills

Taking it back a little old school, the grilling stations around The Bridge at Northwest Hills rely on charcoal for cooking, rather than propane. You’ll see these pill-shaped grills throughout the community, always sectioned off with some kind of unique flooring, and a small picnic table, the kind with attached seats. One grill has a gravel floor, with a stone paver pathway, while the other is all about the stonework.

Cooking up something with a lot of flavor is easy in this Northwest Austin apartment grill, but what makes this space even better is its proximity to the Greenbelt. While there are great on-property amenities, like a big pool, spacious deck and state-of-art fitness center.

Source: Rent. / Camden Shadow Brook

The best apartments with grills in Austin take into account the need for prep space. At Camden Shadow Brook, an entirely separate bar counter for getting those burgers and dogs ready for the grill meets this need with ease. It’s also a great surface to serve food from, letting friends make their own plates. With two gas grills right behind the prep space, you won’t have any issue going from cooktop to counter thanks to this smart setup.

Another great place in Southwest Austin to call home, the grills sit right beside the massive pool. It’s so big, it’s actually broken up into two separate spaces, three if you count the hot tub. Each section curves into a unique shape, with two stone islands in the middle.

Source: Rent. / Foxwood

A grill that comes with its own porch? Yes, please. At Foxwood, you get a great hangout space alongside the charcoal grill. Covered by a pergola, this patio slab looks out onto the beautiful green space within the community. It’s the ideal spot to enjoy a quiet meal al fresco.

The green space in this Southeast Austin community is a true hidden gem. From your lookout by the grill, you’ll see a long bridge. This crosses over a small creek, with gnarled tree branches hanging gracefully overhead. Two rows of lamp posts keep the area bright even after dark. Overall, this entire space makes it feel like you’re living in a park.

Find the right apartments with grills in Austin

Now that you know what’s out there and are more familiar with the grill setups that really pop, it’s time to find your next apartment in Austin. Lock down a place with a great grill, a good location and all the other amenities on your ‘must have’ list, and you’ll enjoy living in Austin that much more.

Featured Image Source: Rent. / Camden Amber Oaks

Lesly Gregory has over 15 years of marketing experience, ranging from community management to blogging to creating marketing collateral for a variety of industries. A graduate of Boston University, Lesly holds a B.S. in Journalism. She currently lives in Atlanta with her husband, two young children, three cats and assorted fish.

Source: rent.com

Apache is functioning normally

Are you losing precious sleep because you’re scrolling through your Instagram feed? Yea, us too. It’s a bad habit that we just don’t want to quit. We’re so inspired by all of the beauty that is right at our fingertips that we just keep scrolling, following and dreaming. From lists of places we want to visit, to decor ideas and mouth watering food shots, we can’t wait for breakfast the next morning! Not that we need to pour more fuel on the fire, but there’s always room for another good Instagrammer or two!. We’re certain everything in these three feeds will keep you up all night long!

Joanne Pio is a photographer based out of LA and this girl knows all of the hotspots -not just in LA, but everywhere she goes! NYC, Portland, Seattle, you name it, Joanne knows only the prettiest, most instagrammable places to visit. She makes us a.) want to jet-set across the country and back again and b.) do all that travel with Joanne by our side. Luckily, following her Instagram account kinda lets us do that. So if you like good eats, clean design and traveling, get to screen shotting and taking notes!

It’s no wonder why Kristen Cesiro’s Instagram account is gorgeous. She’s only the Lead Web and Graphic Designer of Homepolish, the genius interior design firm that broke on the scene offering great design at even greater prices.One photo after another, you’re drawn right into Kristen’s world. Dusty pinks and soft white tones run through each of her snaps and we just die over her vision. They’re so pretty they make us wish we saw the world through her eyes. Well, we get to…through her lovely insta!

Dana Miller, blogger at House Tweaking and mama to three, makes normal life look completely dreamy. She’s deemed her house The Underdog, taking the challenge on of making this once dilapidated house into her dream home. We’d say she’s doing a pretty darn good job too! We love all of the decor updates she shares and seeing pictures of her kids in the space – playing, with real toys! Dana reminds us that Instagram isn’t always about aspirational photos, brunches every weekend and curated top-downs. Love, family and happiness oozes out of this account– follow it!

Who are some of your favorite Instagrammers? We’re always looking to follow someone new to love! Please share your latest faves in comments!!

PS: You can follow our founder, Erin, here and our Editorial Director, Bianca, here.

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Source: apartment34.com

Apache is functioning normally

Shopping malls in the U.S. are looking to add more entertainment venues and restaurants as part of an effort to reinvent themselves as “theater districts” focused on socializing and shopping.

To do so, many shopping malls have, or are in the process of converting vacant stores on their premises into indoor entertainment destinations, with activities including arcade games, go-karts, rides and brand experiences such as Legoland and the Crayola Experience, Curbed.com reported.

“Today,
it’s about real-life socialization,” said
Randy
White, the
CEO
of White Hutchinson Leisure & Learning Group. “Potential
shoppers can have all the digital entertainment experiences at home.”

Shopping
malls need to do something or they risk going out of business. That’s
because consumers’ habits have changed, and more and more people
are choosing to stay at home and do their shopping online. Between
2000 and 2017, out-of-home spending on entertainment fell by 3% in
the U.S., according to Department of Labor data.

“The
amount Americans spend to go out is actually going down because
they’re staying home more,” Nick Egelanian, president of
SiteWorks, a retail consultant firm, told Curbed.com.

And
so malls are resorting to creating new experiences to try and entice
people to visit them. The new American Dream Mall in New Jersey for
example, has an indoor ice rink and ski slope. Meanwhile the Tuttle
Crossing Mall in Columbus, Ohio, has converted a former Macy’s
store into an indoor entertainment zone called Scene75, complete with
children’s rides and go-karts.

But
it remains to be seen if entertainment alone will be enough to rescue
America’s malls.

““The
A or B-plus level malls will survive,” White told Curbed.com. “The
rest will turn into Amazon distribution centers or other uses. We’ve
always had too many square feet of retail, and now it’s insane.”

Another
question that remains unanswered is if people who come to malls for
the entertainment will actually spend more on shopping.

It’s
a risk no doubt, but in any case developers are increasingly betting
on the idea of a family-oriented entertainment as a new kind of
anchor for shopping malls.

“Malls
may not be retail playgrounds anymore; maybe these new businesses can
help redefine malls and their role as common social spaces,”
Curbed.com reported.

Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at [email protected]
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Source: realtybiznews.com

Apache is functioning normally

Rising mortgage rates, lower homebuyer demand and fewer homeowners choosing to sell their homes caused the housing market to slow during the second half of 2022. In the title insurance industry this resulted in a drop in capital adequacy, according to a report released Friday by Fitch Ratings.

In 2022, the title industry’s aggregated risk-adjusted capital (RAC) ratio, which is a measure of resiliency of a financial institution’s balance sheet to endure an economic risk or recession, fell to 168%, compared to 182% in 2021. However, the 168% figure is consistent with Fitch’s guidelines for an “A” category rating.

According to Fitch, this shows that the headwinds faced in the second half of 2022 led to revenue and earnings weaknesses and it also adversely impacted capital levels at some underwriters.

Fitch attributed the decline in industry-wide aggregate RAC score to a drop of roughly 17% in adjusted policyholders’ surplus (APS), which was offset slightly by a decline in target policyholders’ surplus (TPS) due to a lower expense leverage and large loss charge.

In addition, Fitch estimates that the level of redundant statutory loss reserves fell 14% year over year, also contributing to the lower RAC ratio, and that 81% of reported statutory reserves ($5.1 billion) were used in the 2022 RAC ratio and just over 100% of Schedule P reserves ($4.1 billion). Fitch noted that based on Schedule P reporting, recent underwriting periods continue to generate low reported loss ratios compared to historical averages.

The industry base RAC score also fell, dropping 13 percentage points compared to the year prior to 136% at the end of 2022.

When broken down by company, of the Big Four, Fidelity National Financial had the lowest RAC ratio at the end of 2022, after it fell 13 percentage points year over year to 129%, with the largest driver of the decrease being an increase in the large loss and ceded reinsurance risk charge and an almost 32% decline in APS.

Old Republic had the second lowest RAC at 158%, six percentage points lower than a year ago. Fitch attributed this decrease to a 9% drop in surplus and an increase in large loss and ceded reinsurance charges, which was partially offset by a decrease in expense leverage and agency risk charges. First American ranked third, with a RAC ration of 186%, a slight increase compared to a year prior, keeping the firm in line with Fitch’s “A” rating guidelines. The slight increase was driven by an 18% drop in TPS, due to a drop in large loss and ceded reinsurance charges, despite a drop in surplus.

Stewart had the highest RAC at 221%, remaining essentially unchanged compared to a year ago, keeping the firm in line with Fitch’s “AA’ rating guidelines. Fitch attributes Stewart’s results to a slight decline in surplus and a slight improvement in estimated reserve redundancy, as well as a slight decline in TPS. Stewart’s base RAC of 191% is the highest in Fitch’s universe.

Looking ahead, Fitch believes that we will start to see the impact of some of the title firms’ expense reduction measures in the second quarter of 2023 and that the industry should expect net profits for full-year 2023 to be “on par or slightly better than 2022 despite the slowdown in originations and home price declines.”

“The declines in premium volume and reduced operating expenses, with flat to modestly higher capital levels, will promote modest capital adequacy improvement in 2023,” the report reads.

“Title insurers are actively pursuing expense reductions in response to macroeconomic pressure, which coupled with lower premium volumes, will promote modest improvement in capital adequacy in 2023,” Gerry Glombicki, Fitch’s senior director, said in a statement.

In addition, Fitch also expects industry capital levels to, at best, move slightly higher in 2023, benefiting from recent expense reduction measures. However, Fitch Ratings also states the further expense reductions may be necessary if market conditions worsen.

While the confluence of higher mortgage rates, lower home prices and limited existing home inventory continues to put a strain on the industry, the industry-wide decline in operating expenses coupled with flat capital levels is expected to cause an increase in the title RAC ratio by the end of 2023.

Source: housingwire.com

Apache is functioning normally

REACH operates a variety of accelerator programs around the globe, created and operated by Second Century Ventures and backed by NAR. The program offers education, mentorship and exposure for technology companies working to scale their businesses across the U.S. residential and commercial real estate markets and expand into adjacent markets, including insurance, mortgage and financial services.

Applications for its flagship 2021 REACH & REACH Commercial classes are now open, but only until January 31st. That means, if you’re an early-stage startup interested, you best start the process now…

Apply Now

Source: geekestateblog.com

Apache is functioning normally

You know the movie you watched that had God-awful effects and made you almost smash your TV? We all hate those. Great movie SFX can shoot the viewer’s experience from two to one hundred in a heartbeat.

Someone in an online film forum, probably having had enough of terrible special effects, asked for some foreign movies with remarkable special effects. These are our favorites from the recommendations.

1. Hero (2002)

Photo Credit: Edko Films.

Hero is set in Ancient China, and Jet Li stars in it. Fun fact: his name in the film is Nameless (无名). The movie is about Nameless recounting how he fought the King’s enemies and won. But the King, who thinks he’s lying, questions the details of his story.

A fan thinks, “Hero is one of the most visually stunning movies I’ve ever seen.” What else can you expect from the most expensive project in China in 2002?

2. Crouching Tiger, Hidden Dragon (2000)

Photo Credit: Sony Pictures.

Crouching Tiger, Hidden Dragon is another Chinese movie directed by Ang Lee and stars Michelle Yeoh, Chow Yun-fat, Zhang Ziyi, and Chang Chen. The film has just the right mix of action, adventure, good acting, and beautiful effects. As a result, it became the highest-grossing foreign-language film produced overseas in American history.

3. Pan’s Labyrinth (2006)

Photo Credit: Warner Bros. Pictures.

All ye lovers of dark fantasy horror films get in here! This Spanish film was so good that it won many international awards, including three Academy Awards.

The plot follows 10-year-old Ofelia (played by Ivana Baquero), who goes into a magical labyrinth and has to complete some quests to prove that she is royalty. Spoiler alert, Ofelia dies in this movie. Sad, but this makes the film more interesting for some people. One said, “My absolute favorite movie ever. So good.”

4. Space Sweepers (2021)

Photo Credit: Bidangil Pictures.

The film is regarded as “the first Korean film space blockbuster.” It is set in a time when Earth is uninhabitable, 2092. The new “Earth” is for only 1% of the 1%. The fate of the other 99% is anyone’s guess.

Critics agree the movie has “relatable characters and impressive effects.” Still, you would have to see it yourself to agree or disagree.

5. Rigor Mortis (2013)

Photo Credit: Kudos Films.

Back to our horror movie lovers, Juno Mak and Takashi Shimizu directed and produced this Hong Kong horror film. You know those films you watch with keen interest and total amazement, and then after an hour of being entertained, you find out, at the very end, that all was not as you thought it was. This is one.

Ultimately, we find out that most of the story didn’t happen. It was all in the mind of the main character. Oops! Did I forget to say spoiler alert?

6. Sputnik (2020)

Photo Credit: Art Picture Studios.

Russian Horror movies are one of the best horror movies out there. Case in point, Sputnik. Egor Abramenko directed this one.

Oksana Akinshina stars in this Sci-Fi horror as Tatyana Yuryevna Klimova. She gets recruited to figure out how to help a cosmonaut named Konstantin, the sole survivor of a space accident. Except her recruiter lied to her.

7. Train To Busan (2016)

Photo Credit: Pan Media & Entertainment.

What is good horror without flesh-eating zombies? This South Korean horror film has one of the best effects from movies released in 2016.

The drama takes place on a train on its way to Busan. Seok-woo, played by Gong Woo, and his daughter Su-an, played by Kim-Su-an, are on the train to see his ex-wife. Let’s just say they never got to Busan. Although the first movie was a huge hit, the sequel, released in 2020, was less successful than the first.

8. Troll Hunter (2010)

Photo Credit: Filmkameratene A/S.

This Norwegian film follows a group of students who want to make a documentary about a bear poacher in the forest.

After a series of searches and investigations, they find out that there is no bear poacher; instead, there are trolls in the forest. André Øvredal wrote and directed the film, featuring various famous Norwegian comedians.

9. Night Watch (2004)

Photo Credit: Twentieth Century Fox.

We have another Russian horror film on our hands. The storyline of this film puts darkness and light against each other in a great war, but no side wins, so they reach a truce. Night Watch, directed by Timur Bekmambetov, received mixed reactions from critics. Still, the movie has many lovers.

10. The Wandering Earth (2019)

Photo Credit: Alibaba Pictures.

Apparently, Asians have the movie world on lockdown as far as special effects are involved. The last movie on the list is a Chinese science fiction film. It is set in 2058; the sun is dying out, and Earth is in danger. The plan is to find a way to move Earth out of its orbit and into a new one. Did they succeed? Only one way for you to find out.

Frant Gwo directed the film. It set a record in the Chinese film industry by earning more than £232 million in six days.

This thread inspired this post.

Image Credit: Shutterstock – Denis Makarenko

Who is one actress you can never stand watching, no matter their role?  After polling the internet, these were the top-voted actresses that people couldn’t stand watching.

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These 7 Celebrities are Genuinely Good People

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We’ve all heard the famous adage that “no publicity is bad publicity,” and while it tends to be accurate, there are certainly exceptions. But what about those few stars who stay out of the limelight and get along without a hint of trouble? 

These 7 Celebrities are Genuinely Good People

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Have you ever known someone and thought you liked them—until you learned about their hobbies? Then you get to know them and then you’re like, “Wow, red flag.” Well, you’re not alone.

These 10 Activities Are an Immediate Red Flag

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Some celebrities definitely seem to enjoy the limelight and keep working to stay in the public eye. While others quickly move out of the spotlight. Many of these actors and actresses stepped out of the spotlight to live a more private life without constant media pressures.

10 Celebrities That Made the Big Times Then Disappeared Off The Face of the Earth

Image Credit: Troma Entertainment

We’ve all been there – sitting through a movie that we can’t help but cringe at, but somehow it still manages to hold a special place in our hearts.

These 10 Terrible Movies Are Still People’s Favorites



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Source: financequickfix.com