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Real Estate Investing Book

Keyword Search . Generally, a counter offer will state that the seller is interested in the buyers offer subject for the following changes. Generally, a counter offer will state that the owner is interested within the buyers offer subject to the following changes. Typically mobile homes are sold through the owner, unless the home is being sold with land. It has great food, warm, hospitable people and an easy carefree lifestyle.



Fee structures differ slightly for each method of crowdfunding. Also unlike your stocks, your REIT investment is not likely to disappear. Don't just rely on that which you hope is true, obtain the facts from a skilled property professional. You just have to take your time and search through their listings, considering the properties that interest you probably the most and going for a final decision.

PART 1 Making a Fortune In Real Estate. Its not every that surprising that lots of of those recently boasting about their property exploits have softened their tone while seasoned investors, dormant for that past six or seven years, have begun to once again start purchasing lucrative investment property. For instance, a job loss or a drastic pay cut could give a cause for you to terminate the contract. The variety of single family homes which were owned by investors rose from 5% in 1995 to almost 29% from the end of 200 Effectively, these investors took away no less than 25% of available single family homes using the intent of selling them at higher prices to retail home buyers.

Investing in the flipping property is really a great way for beginners in real-estate investing for these to get started making money. Furthermore, be around the look out for legalities specifically the certificate of ownership and also the existing laws surrounding it. Furthermore, be about the look out for legalities specifically the certificate of ownership and the existing laws surrounding it. If within your budget, you could go ahead and take Real-estate Salesperson licensing course. Property Rights.

Legal protection in case of default can be recouped via foreclosure within the case of debt property crowdfunding. Considering its interactive and user-responsive interface, there are a lot of good items that can be stated concerning this app. This is essentially a holding company that uses the money from shareholders to purchase or manage property interests. This is essentially a holding company that uses the cash from shareholders to purchase or manage real-estate interests. In comparison, real-estate performance, having a house price graph starting at the start of 1975 a price of 10,388 for a house stood a price, also not adjusted for inflation, from the end of the third quarter of 2013, of 170,91 This is definitely an increase well over 16 times.



Final TILA statement: You receive one of these whenever you apply for a mortgage. By improving the property you'll greatly improve the profit you is likely to make from your real estate investment. There are many specialized firms that put for the disposal of their clients real-estate engines like google and offer them effortlessly the information they must know. o ing closing or possession date.





The property market is definitely fluctuating, and is affected by many, often unrelated financial aspects. My search resulted in 4 similar comparables within 20% of the subject's sq. Find a lawyer, do just a little research, and make sure that you may have the rights you assume you may have before investing in any property purchase.

Regulators Clarify Use of Evaluations in Place of Appraisals

Three financial regulatory agencies have clarified current rules on the use of appraisals versus property evaluationsThree financial regulatory agencies have clarified current rules on the use of appraisals versus property evaluations in real estate transactions. The guidance, published by the Federal Reserve Board of Governors, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) applies to all state member banks, bank holding companies, and nonbank subsidiaries of those holding companies regardless of their size but does not apply to institutions regulated by the National Credit Union Administration.

According to the advisory's cover letter the clarifications arose out of outreach meetings held between the agencies and stakeholders regarding requirements of the Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA). The three agencies are still in the process of conducting a review of their regulations under EGRPRA including their appraisal regulations to evaluate whether they are outdated, unnecessary or unduly burdensome. The current guidance is issued in response to specific questions raised by financial industry representatives about the two methods of value estimation, when they can be used and how they can support a conclusion about value in the absence of sufficient recent comparable sales. The advisory stresses that it is not intended to indicate that the agencies have completed their review of appraisal requirements.

Current appraisal regulations require that financial institutions regulated by any of the agencies obtain an appraisal prepared by a state-licensed or certified appraiser and complying with the Uniform Standards of Professional Appraisal Practice (USPAP) for any real estate-related financial transaction, unless an exception applies. The following transactions are the current exceptions to the appraisal requirements. An evaluation is sufficient in such instances.

Transactions where the "transaction value" (generally the loan amount) is $250,000 or less; Certain renewals, refinances, or other transactions involving existing extensions of credit; and Real estate-secured business loans with a transaction value of $1,000,000 or less and when the sale of, or rental income derived from, real estate is not the primary source of repayment for the loan.

The advisory says despite these exceptions a financial institution may find it is prudent or necessary to conduct an appraisal such as for credit risk management purposes, when the institution's portfolio risk increases, for higher- risk real estate-related financial transactions or as a prerequisite to participating in some secondary market transactions.

Where an evaluation is used the preparers may be internal bank employees or third parties that are knowledgeable, competent, and independent of the transaction and the loan production function of the institution. The evaluation should provide a reliable estimate of the market value of the property and, therefore, the approach or approaches used in an evaluation should be appropriate to the property being valued. The preparer may consider one or of the generally acceptable valuation approaches or methodologies namely the sales comparison approach, the cost approach, or the income approach.

For most residential properties and some commercial properties, the preparer may obtain data on recent sales of properties similar to the property being valued that reflect recent market activity. Such comparable sales present direct market evidence that may be useful to the preparer in estimating the market value of the subject property.

Some valuation assignments, such as for properties in rural areas or in non-disclosure states, (those where the sale price is not part of the public record) or properties that are not sufficiently similar to other properties in the local market, there may not be sufficient comparable sales data. The preparer may consider alternative valuation methods and other information for developing an evaluation and supporting a market value conclusion. The cost approach might be appropriate, particularly if the property is newer construction or the income approach could be used for an evaluation of rental property.

Other analytical methods and tools such as automated valuation models and tax assessment values are described in Interagency Appraisal and Evaluation Guidelines and may be used if the institution can demonstrate that the method is consistent with safe-and- sound banking practices and these Guidelines. Institutions should establish policies and procedures that specify the supplemental information that is required to develop an evaluation.

The minimum requirements for the contents of an evaluation are specified in the Guidelines Unlike an appraisal report that must be written in conformity with the requirements of USPAP, there is no standard format for documenting the information and analysis performed.

The bottom line of the advisory appears to be that an evaluation should contain sufficient information for a reader to understand the analysis used to support the value conclusion and the institution's decision to engage in the transaction.

http://www.mortgagenewsdaily.com/03072016_appraisal_regulations.asp

Can housing overcome a shaky stock market?

Despite an unstable stock market, economists predict that the housing market will follow in the labor markets footsteps rather than the financial market. Per The Wall Street Journal:

However, in order to get there, the article said that the housing market will have to overcome several headwinds, including potentially higher interest rates, volatile financial markets and falling oil prices hitting some oil-rich areas.

This is in addition to housing affordability concerns and a shortage of construction workers.

But on the flipside, the article added that this will likely be outweighed by rising household formation, improving employment and wage numbers and steep rent increases that could start pushing renters to buy.

From the article:

But even if the stock market has a rocky year, he said, that has relatively little effect on demand for homes, which are much more driven by employment, or the economy overall.

If we look at all the metro areas of the country, almost all of them suggest that we should see sustained growth in the coming year, saidDavid Berson, chief economist atNationwide Insurance.

Meanwhile, investors are scrambling as they continue to head into what is the worst start ever to a calendar year for the stock market, anarticlein Business Insider said.

The Dow dived bymore than500 points. The NYSEhit a new lowin early trading. The S&P is also seeing itsworst startof the year.

http://www.housingwire.com/articles/36072-can-housing-overcome-a-shaky-stock-market

Arron Lewis found guilty of murdering Arkansas Realtor Beverly Carter

Arron Lewis was found guilty Friday of abducting and killingArkansas Realtor Beverly Carterin 2014, according to various Arkansas media outlets.

According to KATV, Lewis was automatically sentenced to life in prison without parole for Carters murder and also received a consecutive life sentence for kidnapping.

According to interview transcripts with police, presented as part of pre-trial proceedings andrecapped in detailon Arkansas Online, Lewis selected Carter from an Internet ad, based on the fact that she worked alone.

Upon meeting Carter at a house under the guise of being a potential buyer, Lewis allegedly told Carter "You're about to have a very bad day," before subduing her and binding her with green duct tape.

Carter was kidnapped while showing a home sometime in the early evening hours of Sep. 25, a Thursday. Her husbandtold policethat he became concerned when by 9 p.m. his wife had not called. He drove to the site and found her brown Cadillac sport utility vehicle parked in the driveway with her purse inside it.

An intensive search followed, and on Sep. 29, police arrested a suspect.

Carters body was found in a shallow grave about 25 miles north of Little Rock the next day, on Sep. 30, 2014.

Lewiswas arrested for Carter's murder. His girlfriend at the time, Crystal Hope Lowery, was also charged with capital murderfor her role.

Lowery has since pled guilty and received a 30-year reduced sentence, contingent on her agreement to testify against Lewis.

Carters son, Carl Jr., was the only person to give a victim impact statement.

In the wake of his mothers tragic death, Carl Carter Jr. made it his mission to educate Realtors and real estate agents just how critical taking precautions is to their safety.

Carter Jr. told HousingWire last year that he is studying to become a Realtor.

On a positive note weve seen a lot of changes in the real estate industry, Carter Jr. said.. There have been changes in the industry locally and nationally. In Arkansas, even the way people sell autos has changed."

People are doing more to verify that people are who they say they are and doing more to keep people safe, Carter Jr. said. There have been massive changes in real estate industry in similar processes, in identification, in requiring meetings that are face-to-face be in an office.

http://www.housingwire.com/articles/36041-arron-lewis-found-guilty-of-murdering-arkansas-realtor-beverly-carter

Foreclosure Filings Topped 1M in 2015

It seems at times that the wave of foreclosures will never end. At the end of 2015, according to RealtyTrac's 2015 U.S. Foreclosure Market Report released on Thursday, foreclosure filings had fallen by 62 percent from their peak of over 2.8 million reached in 2010. Yet in the year just ended there were still foreclosure filings - default notices, scheduled auctions and completed foreclosures or bank repossessions, on 1,083,572 U.S. properties. This is a rate of one filing for every 172 housing units or 0.82 percent, the second year in which the rate has been below 1.0 percent.

While the 2015 filings were the lowest annual total since 2006 when 717,522 properties nationwide received a foreclosure filing that number was only a surprising 3 percent decrease from filings in 2014. In the final month of the year there were 103,373 properties that received notices, a 1 percent decrease from November and down 9 percent from December 2014. It was the third consecutive month that filings declined on an annual basis.

"In 2015 we saw a return to normal, healthy foreclosure activity in many markets even as banks continued to clean up some of the last vestiges of distress left over from the last housing crisis," said Daren Blomquist, vice president at RealtyTrac. "The increase in bank repossessions that we saw for the year was evidence of this cleanup phase, which largely involves completing foreclosure on highly distressed, low value properties.

"Meanwhile, local economic problems became a larger driver of foreclosure activity in 2015," Blomquist continued. "Examples of this are Atlantic City, New Jersey, which posted the nation's highest metro foreclosure rate for the year, along with several heavy oil-producing markets in Texas and Oklahoma where foreclosure activity increased in 2015, counter to the national trend."

Twenty-four states and the District of Columbia along with six of the largest metro areas posted a year-over-year increase in foreclosure activity in 2015. Massachusetts led among states at 55 percent, followed by Missouri (+50 percent), Oklahoma (+36 percent), New York (+24 percent) and Texas (+16 percent). Increases were noted in Boston at 44 percent, St. Louis (+38 percent), Dallas (+25 percent), Detroit (+22 percent) and New York (+9 percent). The sixth metro was Houston, up 1 percent.

Foreclosure starts numbered 569,835 for the year, an 11 percent decrease from 2014 but starts dropped year over year in December by 30 percent. Starts increased annually in 16 states, notably Oklahoma, Massachusetts, Missouri, Virginia, Nevada, and Arkansas.

A total of 449,900 U.S. properties were repossessed by lenders in 2015, up 38 percent from 2014 but still 57 percent below the peak of nearly 1.1 million bank repossessions (REOs) in 2010. Repossessions or completed foreclosures increased in 41 states and the District of Columbia. New Jersey and New York, among the states that have consistently had the longest foreclosures timelines, saw completed foreclosures increase by 226 percent and 194 percent respectively, perhaps signaling that the logjam is starting to clear.

Massive timelines exist in other states as well with six having an average in the fourth quarter of 2015 of more than 1,000 days: New Jersey (1,180 days), Utah (1,128 days), Hawaii (1,106 days), New Mexico (1,079 days), Florida (1,025 days), and New York (1,010 days). Nationwide properties repossessed in the last quarter of the year had been in the foreclosure process an average of 629 days, one day less than in the third quarter but up 4 percent year-over-year.

"The median price of a bank-owned home in 2015 was 41 percent below the median price of all homes - the biggest bank-owned discount nationwide since 2006," Blomquist noted. "That may be surprising to some, but demonstrates that in a healthy real estate market foreclosures are no longer mainstream, but instead are back to being a market niche of properties with problems that many buyers do not want to tackle."

States with the highest foreclosure rates in 2015 were New Jersey (1.91 percent of housing units with a foreclosure filing); Florida (1.77 percent); Maryland (1.60 percent); Nevada (1.40 percent); and Illinois (1.26 percent). The highest rates for metro areas were in Atlantic City (3.43 percent); Trenton (2.14 percent); Tampa Bay-St. Petersburg-Clearwater, (2.03 percent); Jacksonville, Florida (2.02 percent); and Miami (1.98 percent).

http://www.mortgagenewsdaily.com/01142016_realtytrac_foreclosures.asp

Ditech Exits Retail; Free Post-TRID Webinar; HMDA White Paper

By most accounts 2015 was a decent year for many builders, lenders, and real estate firms - especially here in Texas where I'm spending a few days with Fairway Independent Mortgage. Speaking of which, here are the hottest real estate markets according to NAR. As expected, the Bay Area tops the list, and California urban areas are well represented. What wasn't so hot were the stocks of publicly held companies in real estate with names like Stonegate (-60%) and Nationstar (-52%).

Under the banner of "upcoming events" on January 20 ATS Secured is hosting a FREE webinar, "Post-TRID Challenges and Innovative Solutions," presented by Richard Horn, Member at Richard Horn Legal PLLC. Horn will discuss thechallenges lenders have been facing since TRID implementation. This webinar will also feature a panel of industry experts including Horn, Brent Laliberte and Wes Miller who will take questions from attendees, and provide innovative solutions. Don't miss out, have your top concerns addressed by leading industry experts! Click here to register.

Banks weren't snoozing over the holidays and mergers & acquisitions continue to be announced. In the last week we've learned that in Illinois the First National Bank in Amboy ($171mm) will acquire Franklin Grove Bank ($29mm). In Pennsylvania the Farmers National Bank of Emlenton ($580mm) will acquire United-American Savings Bank ($91mm) for $14.1mm in cash. Out in California the Bank of the Sierra ($1.7B) will acquire Coast National Bank ($145mm) for about $13.8mm in cash and stock. In "Joisey" OceanFirst Bank ($2.6B) will acquire Cape Bank ($1.6B) for about $208.1mm in cash and stock or roughly 1.41x tangible book. Johnson Bank ($4.1B) will acquire investment advisory and wealth management firm Cleary Gull Advisors Inc. (WI). And in South Carolina CresCom Bank ($1.3B) will acquire Congaree State Bank ($116mm) for $16.3mm in cash and stock.

Jonathan Foxx of Lenders Compliance Group has published a White Paper on the new changes to HMDA and Regulation C. The new HMDA data collection requirements are considerable, requiring significant operational updates and regulatory mandates. For most institutions, the revisions will go into effect on January 1, 2018; but don't let that date fool you: now is the time to start planning for changes to your policies, procedures, and internal control plans.

As a follow-up to a blurb I ran yesterday regarding the Campaign for Accountability calling for the Dept. of Justice to investigate three former members of the Obama administration (including Mortgage Bankers Association president & CEO Dave Stevens) for revolving door practices, MBA spokesman Rob Van Raaphorst had this to say: "These false allegations are part of a smear campaign orchestrated by hedge funds and others, and perpetuated by a writer at the New York Times, designed to undermine the important work that MBA is doing to ensure that all lenders have equal access to a liquid and healthy market in which to do business. Unfortunately, this is the way Washington works.When you are effective, you get a target on your back and people start trying to knock you down.Dave has never violated the letter of the law or the spirit of the law.From the moment MBA approached Dave to discuss the CEO job he began meeting with ethics and legal officials at HUD to make sure he complied with all obligations while finishing up at HUD and after he left.Since leaving HUD he has continued to consult with counsel to make sure he did not approach the ethical or legal line.At every turn, he errs on the side of caution."

Speaking of the MBA, over the course of my travels I speak to many MBA members, as well as executives considering membership. More often than not, executives from nonmember companies tell me that cost is the reason that they do not join. I reached out to Pete Mills, MBA's senior vice president of residential policy and member engagement, to ask him to expand on the value proposition of MBA.

Pete replied, "How much would you pay to have lobbyists working on behalf of your business on Capitol Hill in Washington, D.C, dedicated policy analysts advocating on your behalf in front of the CFPB, HUD and other regulatory agencies in our nation's capital, and the data, research and policy analysis to help your state MBA fight for yourbusinessin state capitals across the country? It would cost your company $10,000 or more per month just to get a few hours of time with outside lobbyists, lawyers and consultants. This expense would only get you baseline reports and just triage the worst policy and legislative decisions.

"MBA members get an experienced team of expert lobbyists, policy advocates and research professionals working for them in both Washington, D.C., and the states, around the clock. We are actively engaged on Capitol Hill and with the regulatory agencies, fighting for policies favorable for our industry.By engaging our members both through segment-specific networks and targeted policy committees, we advocate for policies that strengthen the entire mortgage market, not just narrow segments.

"Our members also receive a wide-variety of networking opportunities, trusted industry data, forecasts and benchmarking information, the latest industry news and information about mortgage finance, robust corporate training programs curated to fit the needs of your company, in-depth compliance guidance and model policies and procedures, and discounts on business-impacting offerings through our partnerships with the GSEs, industry cooperatives and a program for corporate health and wellness benefits.

"For the typical member," concluded Mills, "our annual membership dues, which grant you access to all of these benefits for your entire staff, and much more, amount to about only two-tenths of one basis point of a mortgage lenders' total production. Your readers can learn more about how MBA Membership can benefit their business, as well as why approximately 170 community lenders have made the decision to become MBA Members in the last year, at www.mba.org/join or by contacting Tricia Migliazzo (314.497.6999).

We did have a fair amount of economic news Wednesday. The ADP Employment Change came in at 257k, much better than the 198k Street expectation. (Tomorrow's jobs report is forecasting an increase of 200k in nonfarm payroll.) The ISM Non-Manufacturing Index fell to 55.3 from 55.9 last month. And Factory Orders fell 0.2% in November while durable goods orders were flat. The Treasury complex rallied sharply early in the day and stayed there all day as investors shrugged off a very robust December ADP employment report to focus on concerns about China's slowdown and a weaker-than-expected ISM Services reading in the U.S. Treasuries made fresh highs in the afternoon after the minutes from the December FOMC meeting showed less hawkish among the members than had been previously assumed.

Today is a sparking new day, and China's equity market closed early, down (7%), with trading halted in the session's first 30 minutes as the new circuit breaker rules were triggered. We've have the December Challenger Job Cuts news (15-year low in lay-offs) and Initial Jobless Claims (277k, -10k). We closed Wednesday with the 10-year at 2.18% and this morning it is sitting around 2.17% with agency MBS prices slightly better.

Jobs and Announcements

On the "improving" side of things, Centennial Lending Group, LLC was named one of the fastest growing private companies by Inc 500 Magazine! Centennial Lending Group is located in Horsham PA and looking for dynamic, experienced loan originators, processors, underwriters, and Branch Managers to join its team. "With processing, underwriting and closing all under one roof, Centennial makes the loan process easy for the loan officer and client. CLG knows its employees are its number one asset so management offers a positive environment different from the rest. With fantastic compensation packages, top notch benefits, extraordinary marketing and sales support, flexible work schedules, etc., Centennial Lending strives to have employees for life. Their team members enjoy a work environment which is dedicated, supportive, and fun! CLG prides itself on helping loan officers close more loans than the competition." Visit Centennial to learn more and schedule your confidential interview today. Email resumes to: careers@clg-llc.com."

Houston-based mortgage banker Envoy Mortgage has several fantastic opportunities in the San Francisco Bay Area and the Wine Country for professional originators who wish to focus on the purchase market. Envoy is a purchase centric (76% Y.T.D.) lender currently lending in 48 states. Envoy Mortgage has a strategic relationship with a Bay Area focused Real Estate company and needs to place originators inside of several offices. For a more information about the opportunity please contact Bob Schwab (925.330.6588).

A publicly-traded mortgage industry leader and full-service seller/servicer is seeking a talented and proven sales leader to serve as retail branch manager for its Las Vegas area office. The company is committed to developing this area for both individual and team success while maintaining overall operational excellence and financial strength. Qualified candidates should send their resume to me at rchrisman@robchrisman.com. Onsite interviews will be conducted on January 13 and January 14.

And Guaranteed Rate is searching for Loan Officers and Branch Managers nationally, and has an immediate need for VP of its Consumer Direct Call Center in Irvine, CA. "Guaranteed Rate is not your typical mortgage company. With 16 years of stability and growth we are committed to the development of a better process using our core values, serving our customers and building "next generation" LOs. Our Digital Mortgage is revolutionizing loan origination. GR funded over $18 billion in 2015 with 60% purchase business (+7% in 2015) and total production up 35%. We have 30 of the nation's top 200 originators in Scotsman Guide, with more originators than any other firm in the nation's top 1%. Interested parties should contact Jeana Ziroli Kobielsky (949-233-5635).

Congratulations to Sara Weber who Multi-Bank Securities, Inc. promoted to Vice President, specializing in TBA and MBS fixed income bond markets as an associate to Gail Schaumann.

"Sara's primary focus is on providing unparalleled customer service to our mortgage banking clients, as well as competitive execution when trading TBA mortgage backed securities, specified pools and Community Reinvestment Act (CRA)-eligible securities," said Gail Schaumann, Vice President at Multi-Bank Securities, Inc.

A quick congratulations to Rick Renna: National Mortgage Insurance Corporation (National MI), a subsidiary of NMI Holdings, Inc., (NASDAQ: NMIH) announced he is its new account manager in the greater Boston region "covering Greater Boston, Massachusetts, and Rhode Island." (Is there a lesser Boston area?)

And VRM Mortgage Services (VRM), an outsourcing provider for residential and commercial assets, has named Cheryl Travis-Johnson to the board of National Association of Women in Real Estate Business (NAWRB) and to the NAWRB Diversity & Inclusion Leadership Council. Cheryl is currently the executive vice president and chief operating officer of VRM.

And Chase Mortgage announced it promoted Peter Muriungi to the head of servicing for mortgage banking.

On the other side of the coin we have news from Ditech. (For those displaced, they can always post a resume on www.LenderNews.com for free.) Yes, it isn't the first and won't be the last. Last week we heard about Blackstone's Finance of America exiting correspondent, and this week, sure enough, Walter Investment Management Corp. spread the word that Walter Investment's wholly owned subsidiary, Ditech Financial LLC, will exit the Distributed Retail channel effective January 8. Exiting the channel, which generated funded volumes of approximately $400 million of Ditech's total funded volumes of approximately $19.6 billion in the nine months ended September 30, 2015, is expected to impact fewer than 200 employees. Ditech will continue to close loans currently in the channel's pipeline. "Throughout 2015 we moderated our investment in the Distributed Retail channel given current and expected market conditions, as well as recent regulatory considerations, and subsequently made the decision to exit the channel. This decision will allow us to concentrate on the continued development of the Consumer Direct channel, and further enhance our focus on the relationships and opportunities available to us in our Retention and Correspondent Lending channels," said Denmar J. Dixon, Walter Investment's Vice Chairman, Chief Executive Officer and President."

http://www.mortgagenewsdaily.com/channels/pipelinepress/01072016-mba-membership.aspx