A narrow definition of the impending Ability to Repay regulation could harm consumers and the housing market recovery, according to the National Association of Realtors®. In a letter sent today to Richard Cordray, director of the Consumer FinancialProtection Bureau, NAR joined a broad coalition of lenders, investors, housing professionals, consumer advocates and civil rights groups to urge for a broadly defined Qualified Mortgage (QM) that covers a wide range of traditionally safe products and underwriting criteria. WARNING: Short Sales…love em or hate em…they are here to stay! Go beyond the basic ‘expert’ short sale designation. Watch the FREE 2012 Agent Short Sale Secrets [...] Click Here To View More
New Short Sale Guidelines Speed Up Process | Short Sale Training
The National Association of Realtors(R) applauds the Federal Housing Finance Agency for issuing new guidance requiring servicers of Fannie Mae and Freddie Mac loans to speed responses to short sale requests. The guidelines would require servicers to acknowledge receipt of short sale purchase offers within three business days; respond to short sale requests within 30 days (with a possible 30-day extension); and make a final decision within 60 days of receiving purchase offers. “As the leading advocate for housing and homeownership, NAR knows that delays in approving short sale requests remain a significant challenge for Realtors(R) and consumers and often [...] Click Here To View More
The housing crash was no accident; maybe it’s time to start assigning blame!
If you have ever been in an auto accident, you know that insurance adjusters from both sides examine the accident to determine the comparative negligence. If the fault was fifty percent yours, you are responsible for 50 percent of the damage. Having tr... Click Here To View More
How To Become A HUD Listing Agent | HUD Contact Information
This is the HUD national homeownership center reference guide mailing list for real estate industry professionals that are interested in updates to HUD Mortgagee letters, notices and guidebooks, & FHA Housing Industry Training. Please visit our homepage at:http://www.hud.gov/offices/hsg/sfh/hsgsingle.cfm Servicing lenders can visit HUD’s National Servicing Center at: http://www.hud.gov/offices/hsg/sfh/nsc/nschome.cfm This list does not provide HudHome property listings. . All- HUD-FHA has new career opportunities for qualified individuals. Recently posted online are the positions of: Single Family Housing Specialist (REO), Vacancy announcement: H12-DE-643978-JMR, (Denver, CO) Single Family Housing Specialist (REO), Vacancy announcement: H12-DE-644053-JMR, (Santa Ana, CA) STOP and READ NOW: What do to the top 7439 REO Listing [...] Click Here To View More
Unexpected Slip In Builder Confidence
Further proof that the real estate recovery is going to run hot and cold is a new report by the National Association of Home Builders shows that Home-builder optimism slipped in April, The index dropped for the first time in seven months to a seasonally adjusted reading of 25, down from 28 in March and February. The scale runs from 0 to 100, and any reading under 50 indicates that builders with a negative outlook on the market outnumber those with a positive one. WARNING: Short Sales…love em or hate em…they are here to stay! Go beyond the basic ‘expert’ short sale [...] Click Here To View More
Notice: Bank of America Agent Short Sale System Update
Agent Reminder: Communication Privacy Controls Enforced All Equator messages are now stored inside Equator, and new messages will not be sent to personal email accounts. This process will further protect homeowner privacy and prevent the transmission of confidential information. This new enhancement limits the information in emails from Equator to personal email accounts to ensure that privacy information is not shared. Going forward, when agents have a message in Equator, they will receive a general e-mail in their personal e-mail account asking them to sign into Equator to view the message. This includes new task assignments, routine kept-informed messages and [...] Click Here To View More
Agent Alert: Freddie Mac Policy Change Resulted In Cancelled Short Sales.
Harris Real Estate University Students (and Future Students) Have you had a Freddie Mac Short Sale Cancelled? In case you missed it, Freddie Mac’s has a new policy on ‘rolling back’ some homes that are in foreclosure. There has been an unintended consequence of this policy change under the Freddie bulletin issued on March 13th (scheduled to take effect on June 1st). A rollback can take place (out of foreclosure) for any number of reasons, including lender mistake. The rollback “compensatory fee” of $1,000 is going to be charged where the lender foreclosed without using other means of resolving the situation. [...] Click Here To View More
Is 2012 The Year That Housing Finally Recovers?
Is the Great Housing Crash that started 6 years ago Finally over? Simple answer, yes. Harris Real Estate University predicted that 2012 would be the bottom of the market in the summer of 2011. Now Wells Fargo, Bank of America…as well as many of the nations leading home builders agree. STOP and READ NOW: What do to the top 7439 REO Listing Agents in the US know that you don’t?Watch the FREE Agent REO Secrets video and download the FREE REO Training Guide. NOTICE: Free book guaranteed for the first 100 agents only. Watch this video and share your thoughts: Click Here To View More
Breaking News: New Radical Principal Reduction Program Coming Soon?
Will There Be A Bail Out For Underwater Owners..Mortgage Principal Reductions Program Coming Soon? Many believe that 5 years into the housing meltdown the only logical thing to do is reduce mortgage principal balances. Consider the facts: * There are currently close to 6,ooo,ooo owners in default. * 11,000,000 owners underwater on their mortgages. * Its estimated that the average owner is underwater by $50,000. It would take a decade or more inorder for normal ‘appreciation’ for homes to recoup their lost value. How many underwater owners will wait 10+ years for their homes to worth their mortgage balances? The [...] Click Here To View More
Distressed Property Training | Sample Press Release About Mortgage Debt Forgiveness Act
Thank-You Harris Real Estate University Coach Mark Shandrow for sharing this sample press release. Use this PR to get the word out about your ability to help underwater-defaulted owners avoid a foreclosure. Tax Break For Underwater Homes Ends Soon Time is ticking to get a fresh start. According to recent data by CoreLogic, a leading provider of information, analytics and business services, almost 1 in 4 homes with a mortgage are underwater. This number has continued to grow quarter over quarter as real estate values continue to decline. Many underwater homeowners allow their home to go into foreclosure or choose [...] Click Here To View More
How To Buy Fannie Mae REO/ Rental Pool Properties (FAQ)
HREU Students, are YOU or your investor buyers are interested in purchasing units from the Fannie Mae REO Rental pool?…here is all the information you will need. You are receiving this email because you have shown interest in the Fannie Mae Rental Pool. While you may or may not still have interest in the Rental Pool, we wanted to ensure that you were aware of our other Pool offerings which we have been consistently offering on a monthly basis for quite some time, known as our Traditional Pool. As I said, the Traditional Pool is offered on a monthly [...] Click Here To View More
Underwater Owner Principal Reduction Program Coming Soon?
Edward DeMarco, director of the Federal Housing Finance Agency (FHFA) indicated a willingness to reduce mortgage principal for some borrowers but stopped short of endorsing a plan that would attempt to do that. The White House, along with some lawmakers and housing advocates, has tried to persuade DeMarco to allow Fannie and Freddie to write down loans to help out homeowners who owe far more than their homes are worth. The Treasury Department has proposed an expansion of the incentives for reducing mortgage principal that are now offered under the Home Affordable Modification Program (HAMP). (The FHFA estimates of the [...] Click Here To View More
Real Estate Industry Warning: The REO WAVE Is Coming..Hitting In The Next 90 Days
When will the banks FINALLY start releasing their REOs? Is NOW too soon? The foreclosure delays from 2010-2011 have come to an end. HARRIS REAL ESTATE UNIVERSITY expects May-June 2012 will see the REO inventories swell to levels not seen since 2008. This quote says it all… “We are right back where we were two years ago. I would put money on 2012 being a bigger year for foreclosures than 2010,” said Mark Seifert. In 2011, the “robo-signing” scandal, in which foreclosure documents were signed without properly reviewing individual cases, prompted banks to hold back on new foreclosures pending a settlement. [...] Click Here To View More
NOTICE: New Bank of America Third Party Authorization (TPA) In Effect April 14th
Bank of America is requiring a new third party authorization form (TPA) starting April 14th…. Today’s guest post features excerpts from attorney Ron Ballard’s recent article featured on his blog. Read the original post here in its entirety. “BANA has created an exclusive, full-employment club for local real estate agents, brokers and attorneys to the exclusion of everyone else.” Real estate agents (and attorneys) soon will be held legally responsible for reading the corporate mind of Bank of America. Fortunately for everyone else, they will not be allowed to even communicate with Bank of America, much less be required to read [...] Click Here To View More
Breaking News: Results Are In..Homeownership, Return of The American Dream!
Harris Real Estate University Students…remember all that chatter from the fringe that Americans had somehow given up on homeownership as part and parcel of the American Dream…many were believing that home renter-ship has replaced ownership. …well, this new survey proves that The American Dream of Homeownership is ALIVE AND WELL, thank-you. Share this story with everyone. WARNING: Short Sales…love em or hate em…they are here to stay! Go beyond the basic ‘expert’ short sale designation. Watch the FREE 2012 Agent Short Sale Secrets video and download the FREE Short Sale training guide.NOTICE: Free book guaranteed for the first 100 agents only Click Here To View More
Breaking News: MSNBC Reports, Next Wave Of Foreclosure Fraud Exposed?
Breaking News: Is this the next big real estate story….are the 1000s of County Clerks from around the US going to become successful at suing the banks for foreclosure paperwork fraud…? You tell me. Watch this video: WARNING: Short Sales…love em or hate em…they are here to stay! Go beyond the basic ‘expert’ short sale designation. Watch the FREE 2012 Agent Short Sale Secrets video and download the FREE Short Sale training guide.NOTICE: Free book guaranteed for the first 100 agents only Visit msnbc.com for breaking news, world news, and news about the economy Click Here To View More
National Association of Realtors Pending Home Sales Report
The number of U.S. home buyers who signed contracts to purchase previously owned homes fell slightly in February, a reminder that the housing market’s recovery remains uneven. The National Association of Realtors’ seasonally adjusted index for pending sales of existing homes decreased 0.5% on a monthly basis to 96.5. The results were 9.2% above the same month a year earlier. Despite the small decrease for February, the Realtors’ top economist said the market is showing new signs of life. “The spring home buying season looks bright because of an elevated level of contract offers so far this year,” said Lawrence [...] Click Here To View More
Bank of America Agrees With Harris Real Estate University..Housing Crash is OVER!
Late last year HARRIS REAL ESTATE UNIVERSITY predicted that 2012 would be the housing bottom… Now, Bank of America agrees! Bank of America Merrill Lynch’s economics team declared that housing prices have hit bottom earlier than they expected. WARNING: Short Sales…love em or hate em…they are here to stay! Go beyond the basic ‘expert’ short sale designation. Watch the FREE 2012 Agent Short Sale Secrets video and download the FREE Short Sale training guide.NOTICE: Free book guaranteed for the first 100 agents only Today, Michelle Meyer—a senior economist and housing specialist for the team—told Bloomberg TV that while it’s “a big [...] Click Here To View More
New Home Sales Down: Housing Crash Over..Slow Road To Recovery Ahead.
HARRIS REAL ESTATE UNIVERSITY Students (and future students) the housing bottom has come and gone. History will show that the actual housing bottom was late 2011. From here forward, expect the road to full housing recovery to be choppy at best. HREU is predicting that late 2014 many major US housing markets will start actually appreciating again. (remember that word…appreciation?) WARNING: Short Sales…love em or hate em…they are here to stay! Go beyond the basic ‘expert’ short sale designation. Watch the FREE 2012 Agent Short Sale Secrets video and download the FREE Short Sale training guide.NOTICE: Free book guaranteed for the [...] Click Here To View More
National Association of Realtors and U.S. Treasury “Help For Homeowners” Outreach
WASHINGTON, DC, Apr 23, 2012 – The National Association of Realtors(R) is joining forces once again with the U.S. Department of the Treasury to offer aid to homeowners who are struggling to keep their homes and avoid foreclosure and to help Realtors(R) better assist clients through the short sale process. At a Making Home Affordable “Help for Homeowners” outreach event today in Chicago, Realtors(R) and homeowners will gain valuable insights and information about short sales and have the opportunity to meet directly with loan servicers for assistance with difficult transactions. The event, sponsored by the Treasury Department, is the latest [...] Click Here To View More
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