Real estate news

• Gary Cohn reportedly out of running to be Trump’s Fed chair choice

  06-09-2017 23:52
  
  Despite President Donald Trump saying earlier this year that Gary Cohn is among the candidates to replace Janet Yellen when her term as Federal Reserve chair expires in January 2018, it appears now that Cohn may no longer be on Trump’s Fed chair shortlist. Cohn, who currently serves as the White House National Economic Council Director, reportedly fell out of Trump’s favor after criticizing Trump’s response to the violence in Charlottesville, Virginia last month.
  
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• The crazy real estate boom taking over Flatbush Avenue - New York Post

  06-09-2017 23:51
  New York Post
  The crazy real estate boom taking over Flatbush Avenue
  New York Post
  Flatbush Avenue newcomers Creighton Mershon (right), wife Jessi Arrington and daughter Dottie Mae moved from Dumbo to the thoroughfare's new Parkline development in search of more space at a lower cost. They're happy they did. Annie Wermiel/NY ...
  
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• Flagstar Bank unveils new charitable foundation

  06-09-2017 23:41
  
  Flagstar Bank has unveiled its new charitable arm, Flagstar Foundation. "Flagstar has a 30-year tradition of investing in its communities," said Beth Correa, president of the foundation. "We now want to formalize that investment through a foundation that will support our corporate goals as well as our employees' involvement in the nonprofit world.”
  
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• Ellie Mae: Closing times jump significantly from West to East Coast

  06-09-2017 23:02
  
  The time to close a loan varied significantly from the East Coast to the West Coast in July, as New York’s average number of days nearly doubled that of California. Nationally, the time to close a purchase loan held steady as the time to close refinances fell.
  
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• Hey home shoppers! Here are sample cover letters to win a bidding war

  06-09-2017 22:58
  
  With multiple offers pouring in on one house, cover letters are often the determining factor in which buyer a seller chooses. And given today’s shortage of housing inventory, don't take lightly the importance of writing up a genuine and heartfelt letter on why owning this home is important. Included are three examples of cover letters that can be used as a reference point to write one.
  
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• Home Sellers Are Making Bank in Today’s Market

  06-09-2017 22:26
  Home sellers are making bank in today’s market, realizing a 24.1 percent, or $39,900, gain in 2016, according to a recent analysis by Zillow.
  Sellers on the West Coast—where home prices have rocketed since the recession—saw higher returns, with those in Oakland, Calif., taking home the most at 78 percent, or $235,000.
  Duration is key. The average seller turning a $39,900 profit, the analysis shows, held on to their home for seven years and five months. The average seller in Oak
  
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• Fed Vice Chair Stanley Fischer resigns, citing “personal reasons”

  06-09-2017 22:22
  
  With Janet Yellen’s term as Federal Reserve chair set to expire in January 2018, there has already been plenty of discussion about who might replace her. As it turns out, Trump will have more than Yellen’s position to fill, as the Fed announced Wednesday that Vice Chair Stanley Fischer plans to resign in October, with more than two years left in his term with the Fed.
  
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• NAR Calls for NFIP Extension Ahead of Expiration

  06-09-2017 22:13
  The National Association of REALTORS® (NAR) is calling for a “short-term extension” of the National Flood Insurance Program (NFIP), which is set to expire September 30. The extension will allow for continued work on the 21st Century Flood Reform Act.
  “The country has been here before, and we know what happens if the National Flood Insurance Program expires,” said NAR President Bill Brown in a statement. “Home-buying activity grinds to a halt, to the tune of 40,0
  
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• Paris Hilton’s Dogs Live in a Mansion Nicer Than Your Home

  06-09-2017 22:07
  Editor’s Note: This was originally published on RISMedia’s blog, Housecall. See what else is cookin’ now at blog.rismedia.com:8 Best Upgrades to Personalize Your New Home
  14 Times Pop Culture Predicted Future Technology
  For Sale: Former Social Club of George Washington
  Of course Paris Hilton’s dogs live in a two-story mansion. Of. Course. They. Do.
  Hilton’s puppy palace is lined with a pink interior, and has air conditioning, heating, designer furniture an
  
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• Trump’s DACA decision to have limited effect on U.S. economy

  06-09-2017 21:21
  
  President Donald Trump officially announced he would end the previous administration’s DACA program. Now, analysts explained what this move will mean for the economy, saying its effects will be limited. But Congress’ next move could mean significant changes for the housing industry.
  
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• Does your mortgage technology measure up?

  06-09-2017 19:00
  
  [Expert commentary] Today’s consumers are accustomed to making instant banking transactions and home searches from the palms of their hands, and they expect this kind of ease of use across industries. Ultimately, the best lenders are those who will bring greater transparency to the borrower, which often requires the adoption of new technology as it comes available. Here are different categories of technology every lender should be using and key considerations in choosing and adopting the r
  
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• Iceland Real Estate Stays Red Hot With 6.5% Price Growth - Mansion Global

  06-09-2017 18:29
  Mansion Global
  Iceland Real Estate Stays Red Hot With 6.5% Price Growth
  Mansion Global
  The Nordic country's annual rate of price growth climbed 6.5% in the second quarter of 2017, according to a report Wednesday by the London-based real estate firm Knight Frank. Home prices in Iceland are now up 23.2% over the last 12 months, including a ...
  
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• Caliber Home Loans fires mortgage exec after Fed banned banker from industry

  06-09-2017 18:25
  
  On Tuesday, the Federal Reserve Board banned Daniel Brennan, a former executive at Regions Bank, from the banking industry for allegedly paying one Regions’ loan processors to approve mortgages that did not meet Regions’ lending standards. As HousingWire reported Tuesday, Brennan’s employment at Regions ended in 2016, but HousingWire can now confirm that Brennan continued to work in the mortgage business, albeit for a different company, until news of his Fed banishment broke on
  
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• Here's how veterans are impacted by the shortage of VA-approved appraisers

  06-09-2017 18:01
  
  The Mortgage Bankers Association wrote a letter to the U.S. Department of Veterans Affairs to explain how a shortage of VA-approved appraisals can severely impact borrowers. While an appraiser shortage is highly contested, the unique characteristics of VA loans create a different problem for veterans.
  
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• UWM: 1% down mortgages are still alive and well

  06-09-2017 17:10
  
  United Wholesale Mortgage released its monthly 3 Points video, where UWM CEO Mat Ishbia explained 1% down mortgage programs are still alive and will in the real estate industry. What’s more, due to Freddie Mac’s decision to kill the program, it is now more competitive than ever before.
  
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• Cryptocurrencies Are Utterly Trouncing Traditional Assets Like Gold and Real Estate - Fortune

  06-09-2017 16:44
  Fortune
  Cryptocurrencies Are Utterly Trouncing Traditional Assets Like Gold and Real Estate
  Fortune
  Bitcoin, Ethereum, and blockchain-based cryptocurrencies produced a staggering 445% in total returns through the first half of the year, vastly outperforming traditional assets. Gains in real estate, gold, and equities paled in comparison. The digital ...
  Russia Opens First Criminal Case Involving BitcoinForbesall 104 news articles »
  
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• In Real Estate's Evolving Marketplace, Little Is Truly 'Disruptive' - Forbes

  06-09-2017 14:30
  Forbes
  In Real Estate's Evolving Marketplace, Little Is Truly 'Disruptive'
  Forbes
  Residential real estate – homes – are not only “sexy” to consumers, as evidenced by the fascination with HGTV, but also a magnet for financial services companies and other major corporations that have been drawn to our business over the years by what ...
  
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• MBA: Refinance applications now make up half of all mortgage applications

  06-09-2017 13:05
  
  As mortgage applications ticked slightly higher, the share of refinance applications finally inched its way back up to half of all mortgage applications, according to the latest report from the Mortgage Bankers Association. Meanwhile, mortgage rates also dropped to record lows for the week.
  
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• Executive Conversation: Mat Ishbia on growing the mortgage broker channel

  06-09-2017 13:00
  
  Mortgage brokers can compete with retail lenders because, besides the multiple products, they have access to technology, innovation and ideas of 20 wholesale lenders, not just one retail lender. What’s happening more now than five years ago, on the technology side, is wholesale lenders are building technology to help brokers thrive.
  
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• Crazy Sh*t In Real Estate: A real estate love connection - Inman.com

  06-09-2017 12:07
  Crazy Sh*t In Real Estate: A real estate love connection
  Inman.com
  In this episode, Melanie Schmidt shares the how the love story unfolded between her client and her daughter. Schmidt admits to taking on a matchmaker role in their relationship; in fact, she strongly urged her client to get a haircut so she could send ...
  
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• Here's How Climate Change Could Turn US Real Estate Prices Upside Down - Climate Central

  06-09-2017 04:14
  Climate Central
  Here's How Climate Change Could Turn US Real Estate Prices Upside Down
  Climate Central
  If Florida gleaned anything from Hurricane Andrew, the intensely powerful storm that tore a deadly trail of destruction across Miami-Dade County almost exactly 25 years to the day that Hurricane Harvey barreled into the Texas coastline, it was that ...
  Houston Flood Relief Fund | Emergencies & Disasters - YouCaringYouCaringall 1,349 news articles »
  
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• Former Regions Bank exec banned from banking for skirting mortgage rules

  06-09-2017 03:59
  
  The Federal Reserve Board announced Tuesday that it is banning a former executive at Regions Bank from the banking business for allegedly paying off one of the bank’s loan processors to approve mortgages that did not meet Regions’ lending standards.
  
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• Real estate project in Dubai to be the 'first major development where you can purchase in bitcoin' - CNBC

  06-09-2017 01:30
  CNBC
  Real estate project in Dubai to be the 'first major development where you can purchase in bitcoin'
  CNBC
  A 250 million pound ($325 million) luxury development has been launched in Dubai — and the people behind it don't mind if you pay in bitcoin. Announced Wednesday by British entrepreneurs Michelle Mone and Doug Barrowman, Aston Plaza and ...
  The First Real Estate Development to Accept Bitcoin Payments ...Fortune
  Value of Bitcoin soars to a new high as start-ups seek capital - F
  
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• Despite speculation, Cordray doesn’t announce run for governor at Ohio event

  06-09-2017 00:10
  
  Rumors around Consumer Financial Protection Bureau Director Richard Cordray running for Ohio governor are reaching a boiling point as the debate for the Ohio Democratic Gubernatorial Debate quickly approaches. All eyes were on Cordray’s scheduled speech at the AFL-CIO Labor Day Picnic this past Monday since it appeared to be the perfect setting to announce his run for Ohio governor. Here's what happened.
  
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• Third of Agents Have Felt Unsafe on the Job

  06-09-2017 00:00
  Thirty-eight percent of real estate professionals have experienced a situation that made them fear for their safety or the safety of their...
  
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• Don't Let Spammers Hijack Your Domains

  06-09-2017 00:00
  If you bought more internet domains than you currently use, consider continuing to pay for all of them. The ones you drop may be grabbed by...
  
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