What is Inflation and How Can It Hurt You?
Concerns over inflation continue to be a hot issue in the economic recovery from the COVID-19 pandemic. But what is inflation? And should you be worried about it?
Concerns over inflation continue to be a hot issue in the economic recovery from the COVID-19 pandemic. But what is inflation? And should you be worried about it?
For most real estate professionals, it takes time to build a profitable business. Many go months without a single sale, and countless agents leave the industry due to that initial struggle. Todayâs guest, Elliot Hoyte, overcame it and is now selling millions in volume annually. Listen and learn how he did it and what he suggests to agents who are stuck in a sales slump. Plus, youâll hear how selling luxury cars compares to selling residential real estate, how to leverage your two most powerful tools in sales, and more.
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Every lender or investor with an âaâ in their name seems to be subject to rumors and news in recent months. (More on Flagstar and American Pacific below.) Know anyone named âBernadetteâ? The name is actually Latin for, âThe act of torching a mortgage.â (Yes, it is cutting edge humor like that which brings you back.) Burning liens isnât a topic, but paying them off early is, and with mortgage rates off of their highs, early pay offs, or EPOs, were a conversation topic at the conference this week. And with it, loan officer compensation follows. Can a lender pay an originator based on pull through? Yes. Can lenders pay different originators under different payment plans, as long as the originator sticks with one plan? Yes. Can a lender, if they comply with state labor law, ask for compensation back after an EPO or EPD? Yes, and it may depend on the contract signed by both parties at the beginning of employment. As always, consult your in-house counsel or a lawyer well-versed in mortgage banking. While weâre on originators, occasionally I am asked about training for brand-spanking-new loan officers. No, this is not a paid ad, but veteran LO Tanya Blanchard has created Madison Chase Academy, â6 Months to 6 Figures: A Loan Officerâs Guide to a Profitable Businessâ with a sneak peak on the website. (This weekâs podcast is sponsored by Richey May, a recognized leader in providing specialized advisory, audit, tax, technology, and other services in the mortgage industry and in banking.)
Dave Stevens discusses the psychology of this housing market and five things loan originators need to remember if they want to succeed now.
With a name like âFirst Home Mortgage,â you would expect a serious commitment to home buyers. And thatâs exactly what the company offers, with superior customer service and a wide range of product offerings. The highlight might be access to down payment assistance programs from six state housing finance agencies. This can make the dream… Read More »First Home Mortgage Review: A Maryland Mortgage Lender with a Strong Focus on Home Buyers
The post First Home Mortgage Review: A Maryland Mortgage Lender with a Strong Focus on Home Buyers appeared first on The Truth About Mortgage.
“The Fed’s interest rate hikes are having their intended effect on prices, as monthly apartment rents decreased nationwide,” Obrinsky said. He added that although rents are still higher than year-ago levels, this reflects past, not current rent inflation. NMHC’s sales volume index was also below the break-even level at 10. Around 82% reported lower sales … [Read more…]
As the school year begins, the market remains active but has started to slow slightly.
The post Denver Housing Market Update August 2021 appeared first on Homie Blog.
Yesterday, Kim and I joined my cousins for an afternoon trip to the Oregon Coast. Our aim was to harvest a bounty of clams. We came home with zero. We managed, however, to harvest a bounty of mussels. Plus, the dog had fun.
My cousin Duane carpooled with us to and from the beach. We rode in Kim’s car: a 1997 Honda Accord that’s showing signs of its age.
“It’s a little warm in here,” Duane said about ten minutes into our drive. “Would you mind turning down the heat?”
“Well, I can’t turn down the air,” Kim said. “It’s stuck on high. But I can turn down the temperature.” She laughed as she demonstrated that the knob for the air volume has broken off at the post. The vents now permanently blow at full force.
“This car is falling to pieces,” I said. “Literally.” As if to prove my point, a bit of molding fell from a roof handle. I picked it up and wedged it back into place.
“I like my car,” Kim said. “I have an emotional attachment to it. But I’ve come to the realization that it’s time to start searching for something else.”
More and more, it looks like our vehicles have reached the end of the road.
Despite a recent decline in mortgage rates, the housing market is still nowhere near normal and volume will remain low for the foreseeable future.
Clients will get pre-approval, lock their rate and get a mortgage commitment letter within 24 hours, Better.com says.