National Association of REALTORs and HARRIS REAL ESTATE UNIVERSITY Industry Event. HREU is honored to feature an exclusive interview with NAR’s First Vice President, NAR’s 2014 President Mr. Steve Brown. Agents, consider this a ‘must attend’ event educational event. You can listen to the exclusive interview NOW…no waiting! During this event you will hear directly from one of our industries leaders about the major headwinds for a continued real estate recovery. Its critical that fellow REALTORs understand what is happening now and what may happen next for housing. LISTEN NOW to the 2 Part HREU, NAR Steve Brown Interview. <———-CLICK [...] Click Here To View More
Independent Analysis: 60% of ‘Good’ Loans Wouldn’t Qualify Under QRM
The Center for Responsible Lending (CRL) and a research institute of the University of North Carolina just released the results of an exacting study on how borrowers would fare under different QRM scenarios and they don’t look good. Let’s hope CRL made its results available to federal regulators and lawmakers so they have a picture [...] Click Here To View More
Down with Higher Down Payments
By Gary Thomas, 2012 President-Elect, National Association of REALTORS® In 2011, all of you heard quite a bit about a devastating provision in the Dodd-Frank financial reform law called the Qualified Residential Mortgage or QRM. There was quite a bit of activity before the August 1st deadline for a letter to be submitted to federal [...] Click Here To View More
Renting vs. Buying…Its Not An Easy Decision.
When it does make more sense to BUY vs RENT! Interesting question given the constant bashing homeownership has taken over the last 5 years. The question is why so many more people are choosing to rent vs buy when OWNING would actually cost them less! Its suggested that would be owners are too fearful of further price declines to take the risk and financing is an issue. If financing is an issue now…just wait for April 1 2012 when the new QRM rules take effect. In case you missed it, this is the new guideline that will require nearly all [...] Click Here To View More
When Will Housing Finally Recover? | Rick Sharga, Realty Trac (Video)
RealtyTrac reported 1.7 million homes in some stage of foreclosure. There are over 6 million homes either in foreclosure or in some stage of mortgage delinquency. Compare that to the annualized rate of existing home sales in June (most not REO sales) of 4.77 million units. This is an enormous supply of housing stock, not even including the supply of newly built homes for sale right now (164,000..I know, a pittance), at a time when consumers have made a major shift toward renting. OOOPS…did you wait to long…not sure what to do NOW? …Watch the FREE BPO and REO Training [...] Click Here To View More
Realtor Warning: 20% Min Down Payment Law Taking Effect
NAR has been fighting aggressively against the new QRM rule….but, so far….come next spring…20% down will be the new minimum downpayment for most buyers. Realtors, support NARs fight to reverse this new rule. Click Here To View More
On QRM, No Partisan Divide
By Robert Freedman, Senior Editor, REALTOR® Magazine There’s still a long way to go for NAR and the 44 other organizations in a coalition to get banking regulators to rethink their controversial qualified residential mortgage (QRM) rule, but a press conference held on Wednesday in a Senate hearing room shows how well lawmakers can work together [...] Click Here To View More
QRM: Qualified Residential Mortgage Guidelines | Required 20% Down Payment Feared
What you need to know about: QRM, Qualified Residential Mortgage Guidelines. In case you didn’t know it, this time next year (unless something changes) getting a mortgage will be even MORE challenging. Don’t know about the new Qualified Residential Mortgage guidelines..? Its time to learn: Here are excerpts from MortgageNewsDaily.com followed by a MSNBC video: The proposed regulations governing the Qualified Residential Mortgage (QRM) exemption from risk retention rules constitute a “devastating, unnecessary and very expensive wrench (thrown) into the American dream”according to a white paper released Wednesday by a consortium of housing industry groups. The paper was published in advance of [...] Click Here To View More
Why QRM Is Such a Worrisome Proposal
By Robert Freedman, Senior Editor, REALTOR® Magazine In a small but important development, banking regulators agree to push back the deadline for public comment on their controversial 20-percent minimum down payment proposal. NAR has been talking a lot about the qualified residential mortgage (QRM) proposal in recent months. That’s because of its severe consequences to home [...] Click Here To View More
20% Down Payment Requirement Requirements | QRM Mortgage Guidelines
REALTORS (r), in case you didn’t know it…this time next year if things don’t change…most buyers will be required to put down 20% in order to buy a home due to the new Qualified Residential Mortgage rules. The new QRM Guidelines will be in full force April 2012. (Jumbo mortgages….expect 30%+ down payments.) If there was ever a time to support The National Association of Realtors…its NOW. NAR is our ONLY voice in Washington..NAR not only defends our industry but, homeownership. Here are the facts that you need to know: * A proposal to federal regulations, called QRM (qualified residential [...] Click Here To View More
Required Mortgage Down Payments Increasing | FHA Loan Limits Dropping?
Fellow REALTORS, its happening. The required down payments for all mortgages are increasing…and at the worst possible time for the housing market. Now that the new QRM (Qualified Residential Mortgage) rules are in effect…to be in full force April 2012…the debate over down payments has heated up. On one side are those who think that the required down payments for all mortgages should increase. The Republican proposal would require most FHA borrowers to put down at least 5 percent. Those who support the idea say that forcing borrowers to have more equity in their homes would better protect homeowners against [...] Click Here To View More
National Association of Realtors: Qualified Mortgage (QM) Could Be ‘Burden’
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
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