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Have you ever rented a movie on a whim, expecting it to be just okay—only to find yourself surprisingly transfixed? We’ve all experienced this kind of pleasant surprise at least once or twice, but why is it that the most unsuspected films can sometimes leave us completely entranced? Below are some unearthing 20 movies you don’t expect to love—but absolutely should. 

1. My Cousin Vinny

Photo Credit: Twentieth Century Fox.

“When My Cousin Vinny came out, I thought this was going to be stupid. I laughed and laughed,” one user shared.

Another user agreed and commented, “One of the all-time greats! The whole ‘imagine yo’ a deer’ speech makes my day. Every single time! Marisa Tomei is the best part of that whole movie, hands down.”

2. Star Wars

Photo Credit: Lucasfilm Ltd.

One user shared, “(I’m old) In 1977, my friends and I were supposed to go see Rocky or something, but it was sold out. Instead, we went to a movie I had never heard of called Star Wars. Wow!”

Another user shared her story and stated, “My mom told me about my dad taking my brother to see Star Wars in theatres when it first came out. There was no pomp and circumstance. No long lines of people waiting to see it. There wasn’t today’s hype like it was just another movie release.

“It was hard to imagine.”

3. The Lego Movie

Photo Credit: Warner Bros. Entertainment.

One Redditor commented, “Lego Movie!!! What I thought would be a complete cash grab with no substance (looking at you, Emoji Movie), I left feeling like I got a big hug with the writing, the plot and the talent!!”

One replied, “Absolutely. For being basically a 2-hour long corporate ad, it was very funny, touching, and provocative. Lego Movie is awesome! ‘Hi, you don’t know me, but I’m on TV so that you can trust me!’”

4. The Mummy (1999)

Photo Credit: Universal Pictures.

One Redditor shared, “Brendan Fraser’s Mummy movie.”

Another user replied, “Yes! This was the first movie I’d ever seen in a real theatre. We had no idea what the movie was about, but my God, that was an epic film for little kids to see!”

5. October Sky

Photo Credit: Universal Pictures.

“October Sky with Jake Gyllenhaal and Chris Carter. Great story about a 1950s coal mining town and a teenager wanting to get out and go to college to be a NASA engineer,” one Redditor shared.

Another user replied, “It’s based on a true story. So good.”

6. Edge of Tomorrow

Photo Credit: Warner Bros. Entertainment.

One Redditor posted, “Edge of Tomorrow. Didn’t know much about it outside. It wasn’t doing great in the box office, and no one knew what it was about.”

Another confirmed and posted, “Yesh, this one was better than I expected. It’s one of the few movies I enjoy re-watching.”

7. Up

Photo Credit: Disney/Pixar.

Another user commented, “Up (the Pixar movie). It was so beautiful and emotional. I’ve seen it many times since. Wonderful movie!”

One user replied, “I was not expecting nor was I prepared for that absolute gut punch in the beginning.”

8. Puss in Boots: The Last Wish

Photo Credit: Dreamworks.

“Puss in Boots: The Last Wish! It was so cute and funny but, at the same time, kind of had a deeper theme than I’d expect from a kid’s movie (Puss the Cat has now died eight times and is down to his last life and is realizing that he is going to die one day),” one user posted.

Another user replied, “This movie was much better than it had any right to be. Dreamworks’ top 3 for me.”

9. Clue

Photo Credit: Paramount Pictures.

One user shared, “Clue. Not what I expected. Amazing movie.”

Another user jokingly added, “I guess you can say you had no Clue what you expected … I’ll see myself out.”

10. Little Miss Sunshine

Photo Credit: Fox Searchlight Pictures.

One Redditor posted, “Little Miss Sunshine. I can’t remember what I expected going into the theatre, but it certainly wasn’t what it turned out to be. I absolutely loved the movie.”

One user also replied, “The gag of Steve Carrell’s character losing both his boyfriend and his title as the foremost Proust scholar to the same dude is f- hilarious. Kind of thing that makes you go, “‘Who the f- wrote this?’”

11. Stardust

Photo Credit: Paramount Pictures.

Another online user posted, “Stardust. And I know I’m going to get s- for this, but to me, it’s on a level with the princess bride. It’s intelligent, funny, … all while staying family friendly with a great story and a great lesson.”

One agreed and exclaimed, “WHAT a good movie! It’s one of the rare movies that is (IMHO) better than the book.”

12. Cabin in the Woods

Photo Credit: Lionsgate.

“Cabin in the Woods. I thought it was going to be a s- horror cliche movie; it ended up being one of my favourite movies!” posted one user.

Another Redditor commented, “I watched it because I’m trying to watch all ‘1001 movies you must see before you die’ and thought it was strange a seemingly basic horror movie cut. It was super fun to be surprised by how entertaining and clever that movie turned out to be; I really really enjoyed it and didn’t think I would.”

13. Kingsman: The Secret Service

Photo Credit: Twentieth Century Fox.

One Redditor shared, “Kingsman: The Secret Service. It came out with no real advertising, the trailer looked average, and when I saw its opening day, the theatre was almost empty.

“Holy crap, though, the movie blew me away. I compare it to John Wick, where there was no hype or expectation, then it blew people’s socks clean off.”

One user replied, “I enjoyed the Kingsman films.”

14. Spiderman: Into the Spiderverse

Photo Credit: Sony Pictures Animation.

“Spiderman: Into the Spiderverse … I watched it on a date, expecting not even to want to pay attention. Now it’s my favorite superhero movie,” shared one user. 

15. Terminator 2

Photo Credit: TriStar Pictures.

One user posted, “Terminator 2. I was dragged into seeing it. I’m not a fan of sci-fi/fantasy, but that is one fun movie.”

Another user replied, “All-time favorite film. I’m a huge Arnold fan, tho.”

16. District 9

Photo Credit: Sony Pictures Releasing.

One user shared, “District 9.”

Another user replied, “Amen. I walked into the theatre wholly blind and barely heard about it. Me and some friends just walked past a poster and agreed it looked interesting. One of my best cinema experiences.”

17. Lord of the Rings

Photo Credit: New Line Cinema.

“My mum took me to see Lord of the Rings when it first showed. I had no idea what it was. She told me it was adapted from books she’d thought I’d like. Hands down my favourite movies of all time, and great memories :),” one Redditor shared. 

18. Dredd

Photo Credit: Lionsgate.

One online user added to the thread, “Dredd. Absolutely loved the dark turn the new movie had.”

Another person then asked and commented, “‘Are you ready?’ The second time is really a great callback.”

One user also responded, “Thanks. I have it on one of my queues ‘just because.’ I had no real intention of watching it, but now I will.”

19. Eurotrip

Photo Credit: DreamWorks Pictures.

“Eurotrip. My brother and I went in expecting it to be funny. We’ve been quoting it ever since.”, one Redditor posted.

One user also replied, “‘Oh, mi scuzi!’ Same dude, same.”

20. Galaxy Quest

Photo Credit: DreamWorks Pictures.

One user shared, “Galaxy Quest. I thought it would be a bad comedy, but I really enjoyed it.”

Another Redditor quoted, “‘Never give up, never surrender!’”

What do you think of the movies listed above?

Share your thoughts down in the comments!

Source: Reddit.

10 Actors Perfectly Cast for Their Character Roles

Photo Credit: Warner Bros.

Have you ever watched a movie or show and been completely lost in it because of how well an actor or actress became their character? Check out this article for a whole list of actors who were perfectly cast!

11 Vampire Movies That Will Make You Thirst for More

Photo Credit: Columbia Pictures.

You know that feeling where you’re on a movie kick in a certain genre, but you seem to run out of good movies to watch? Well, if you’re down for a vampire movie or three, check out this article for the best ones out there!

10 Incredible Movies That People Rated 10 Out of 10

Photo Credit: Universal Studios.

It’s pretty hard to replicate the experience of watching your favorite movie for the first time, but we’ve put together a list of movies that people have rated at a perfect 10/10. Next time you need a good movie to watch, check this out!

10 Famous People Who Canceled Themselves With Their Own Stupidity

Photo Credit: Shutterstock.

We’ve all been there: you make a comment you haven’t thought through at all, and the whole room goes silent at what you’ve just said. But can you imagine doing that as a famous person—and getting canceled? Check out this list of celebrities who did just that!

13 Things You Shouldn’t Do When You’re in the US

Photo Credit: Shutterstock.

Are you planning a trip to the US? Culture varies a lot between countries, even countries that share borders. So if you’re headed to the good old U. S. of A, here are a few pointers to make your travels go more smoothly!



About the Author



Source: financequickfix.com

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Yesterday I saw a television ad from Wachovia touting their “Fixed Rate Pick-a-Payment Mortgage” as a sensible choice for homeowners.

It struck me as a bit odd and out of place for the Charlotte, NC-based bank to showcase a hybrid option-arm loan program on national television with all the negative press swirling over the last year and change, especially given the fact that our nation is in the midst of a major mortgage crisis.

However, it didn’t seem to stop them from running these commercials claiming the option arm can lower monthly mortgage payments and free up cash so homeowners can put their money to good use elsewhere, like socking away funds for retirement.

I took a look at the fine print on their website and discovered that this option arm is just as toxic as the ones being pitched years ago by Countrywide and other lenders when home prices were actually appreciating.

The loan program has the standard four payment options, with 1-yr, 3-yr, or 5-yr fixed options, and of course a minimum payment option which allows for negative amortization up to 125% of the original loan amount.

Although they do throw in this disclaimer in the small print: “Choosing the minimum payment will increase your mortgage balance and the aggregate amount you are required to pay over the mortgage term. You should compare the advantage of using your home’s equity for other purposes against the disadvantage of the increase to your mortgage balance.”

It’s hard to consider these loans “fixed mortgages” considering they’re really just adjustable-rate mortgages with a short fixed-rate period; perhaps hybrid would be more fitting.

But more upsetting is the fact that shortly after Wachovia acquired Golden West Financial/World Savings, the unit was sued for deceptive practices tied to these very loans.

And no more than six months later, the mortgage lender is back to pushing these loans above all other options, when most banks and lenders in the industry have focused on offering traditional 30-year fixed-rate mortgages to steer away from the risk and the negative connotation.

Now I’m sure the down payment requirement is a lot greater than it used to be, and you may need more assets and possibly income verification.

But this just proves how fickle and unrelenting the mortgage industry is, and why we will fall right back into the same mess if lenders and homeowners don’t face reality.

(photo: rv)

Source: thetruthaboutmortgage.com

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Everyone has heard of Nashville. It’s not called Music City, U.S.A. for nothing! Most people think the city is all about country music, cowboy boots and line dancing, but locals know the Nashville facts that are the truth behind the stereotypes.

It has great weather and amazing views. Some of the most unique architecture in the country is here. Two U.S. Presidents are buried in or near Nashville. As for music, sure we’re the home of country music, but Elvis also recorded more than 200 songs at RCA Studios. Here are a bunch of other Nashville facts known only to locals.

39 facts only real Nashville locals know

1. BBQ is a separate food group. Don’t argue about it. Just try all the different kinds and decide on a favorite. Not all of them involve pork and tomatoes. Barbecue chicken with Liquid Gold barbecue sauce is a national treasure.

2. Named “The Athens of the South,” Nashville is the only city in the world that has a replica of the Parthenon from Athens, Greece. You can find it in Centennial Park.

3. The city hosts Tin Pan South, the largest festival for songwriters in the world. Songwriters of all genres, not just country, descend on the city every spring for the weeklong festival. Many perform their work on street corners, as well as at local music venues.

4. The creators of Maxwell House Coffee did it in Nashville. President Theodore Roosevelt reportedly gave the brand its famous tagline “Good to the last drop” when he tried it on a visit to the city.

5. The Grand Ole Opry has been airing weekly for 94 years. It’s the longest-running show in the entire world. It’s still carried on the radio, as well as on TV and the auditorium is always packed with a live audience. Good luck getting tickets if you don’t make plans in advance!

6. Revolutionary War general, Francis Nash, is the inspiration for the name Nashville. The city was founded in the middle of the war in 1779.

7. The famous music scene began with African-American gospel groups, not country music. It all started with the Jubilee Singers of Fisk University way back in the 1870s. Emancipated slaves studying at the university were the first members of the group. They traveled the country to raise money to fund the school. The group is still around and continues to travel and perform.

8. Gaylord Opryland Resort and Convention Center is an overrated tourist attraction that’s not worth the admission price except in December. That’s when Opryland turns into a true wonderland that delights Christmas lovers of all ages. It’s the best Christmas display in the city.

9. The first seeing-eye guide dog in the United States was trained in Nashville by a native named Morris Frank. He left his studies at Vanderbilt University to travel to Europe to find out more about the seeing-eye dogs he’d heard about. He returned with his first guide dog, Buddy, and began training more. The foundation he created, The Seeing Eye, is still in Nashville.

10. Hunting for the best apartments in Nashville is easier and more fun compared to other cities. There are many types of apartments to choose from here. Nashville is more affordable than most other big cities, too!

11. Nashville is where the phrase “Old Glory” became popularized to describe the American flag. It started in the Civil War when a retired sailor named William Driver retrieved his hidden flag and flew it over the city after the Union Army recaptured it from the Confederates. He referred to his flag as “Old Glory” and the nickname caught on.

12. Famous thoroughbreds War Admiral and Seabiscuit were both born in Nashville. Move over, Louisville. They’ve got the Triple Crown winners right here in Nashvegas. Belle Meade Plantation, which bred both horses, is open to the public for tours. They also offer tastings at the on-site winery.

13. Every neighborhood in Nashville is distinctive and has its own personality. You’re sure to find one that suits you perfectly.

14. The architecture at the Country Music Hall of Fame is better, but the real country music history is at the Johnny Cash Museum. They’re proud of their favorite native son. (Yes, he was born in Arkansas, but they overlook that small flaw.)

15. Pancake Pantry’s pancakes aren’t worth the wait. Neither are the biscuits from Biscuit Love. They’re both overpriced restaurants that cater primarily to tourists. Many other restaurants have pancakes and biscuits that are homemade, just as good and don’t require an hour-long wait.

16. Prince’s Hot Chicken Shack IS worth standing in line for. Be prepared to drink a bucket of water to douse the heat. That chicken is hot, hot, hot.

17. Nashville was the first city in the South to desegregate public businesses. The protests and sit-ins that led to the victory sparked civil rights advocates in other cities to do the same.

18. RCA Studio B stays decorated for Christmas since Elvis recorded his first Christmas album there in the middle of July. The Music Row Studio is open to the public year-round.

19. Goo Goo Clusters were created in Nashville and are still made right here. The company makes over 3 million pounds of chewy confection every year.

20. The city has thriving hip-hop and rap scenes. Some of the best rappers have come from Cashville, including Young Buck, Lil Queze and Starlito.

21. Speaking of music, Nashville has a ton of live music venues and might be the only place in the world where you can listen to bluegrass, walk next door to catch a country concert, then go downstairs to listen to a rap battle and finally finish off the day by driving down the road to listen to the Nashville Symphony perform.

22. Nashville has more people working in the music industry than anywhere else in the country, including Los Angeles and New York. Over 60,000 music industry jobs are in Nashville. That’s four times as many as the next nearest city.

23. No one really knows what goes on in the Batman Building downtown. Supposedly, it’s owned by AT&T and is an office building for them, but locals aren’t so sure. Could Bruce Wayne have an office on the top floor?

24. Nashville has the only music studio left in the entire world that can record music directly on vinyl records. The Blue Room is part of Jack White’s Third Man Records and has live performances, too.

25. The only American to ever become President of a foreign country was born in Nashville. William Walker became Chief Executive of Nicaragua in 1856.

26. Ryman Auditorium started off as a meeting place for local gospel churches. It was only later converted into a concert venue. It’s been a designated Historic Landmark since 2001.

27. The Frist Art Museum is an underrated landmark. It’s one of the only museums on the National Register of Historic Places. The building itself is a work of art in the Art Deco style. It was the main post office!

28. Nashville is home to the oldest FM radio station in the country. It’s another reason for the nickname “Music City.” In fact, local legend has it that it was one of the DJs for this music station back in the day that first called Nashville by the famous moniker.

29. The Gulch is still an old hippie neighborhood, despite the new businesses moving in. It’s still the best place to find eccentric shops and bars. There’s no better location in town to hear eclectic music, either.

30. We’re the only city other than Los Angeles to ever host the Grammy Awards. They’d love to do it again if anyone from the Recording Academy is reading this.

31. Sri Ganesha Temple and Sanctuary will transport you to another time and place. It’s a replica of Hindu Temples built in India between 900 and 1100 AD. The temple welcomes visitors and holds tours daily, but it is a working temple, so it closes periodically during the day for services. There’s a restaurant and a gift shop on-site, too.

32. Nashville has the largest Kurdish community in the U.S. More than 15,000 Kurds call Nashville home, though the U.S. Census has yet to recognize the refugees from Iraq. The community calls its neighborhood Little Kurdistan.

33. Percy Priest Lake is the best place to go boating and hiking despite the entry fee, which is only $5, anyway. There are miles of trails and campgrounds, as well as plenty of boat ramps.

34. Nashville is home to over 678,000 people. It’s the biggest city in the state of Tennessee and is rapidly growing. Its population has grown by almost 13 percent since 2010 and it’s the 23rd largest city in the United States. More and more people are discovering the charms of Music City and deciding to call it home!

35. The monument to Lysicrates in Athens was the inspiration for the Tennessee State Capitol building, which is one of the oldest capitol buildings in the country still operating. President James Polk and his wife are buried on the grounds.

36. Even people who don’t like country music will admit that the architecture at the Country Music Hall of Fame is amazing. From the front windows designed to look like piano keys, to the physical representation of recording technology evolution that makes up the rotunda’s roof, it’s worth visiting just to see the building.

37. The Honky Tonk Highway is the nickname for an area of South Broadway that has bars and other venues playing live music — and letting it flow outside onto the streets —from 10 a.m. every morning until 3 a.m. the following morning. Many of the venues have multiple floors and they rarely publish their playing schedules in advance. Sometimes, music stars just show up and start playing.

38. President Andrew Jackson lived just outside Nashville on an estate named The Hermitage. He’s buried on the grounds. The estate is now a museum dedicated to the history and the President’s life.

39. Wave Country is the place to go during the summer. The freshwater swimming pool and water park complex can easily be an all-day affair to help the family keep cool during the hot Southern summers. There are concession stands but you can also bring your own picnic. You can even bring a tent if you like.

Did we miss any Nashville facts?

Residents are proud of their city and heritage. If you’re moving to Music City, you can find apartments in Nashville here.

Did we forget any Nashville facts that we should have included? Did we get anything wrong? Let us know in the comments below!

Source: rent.com

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Rental, Renovation, Fee Collection, Subservicing, Verification Tools; Training and Events

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Rental, Renovation, Fee Collection, Subservicing, Verification Tools; Training and Events

By:
Rob Chrisman

2 Hours, 11 Min ago

Yes, WeWork has filed for bankruptcy, but if you look at GDP and employment, our economy is doing pretty well. Did you know that the Dallas metro area is home to the headquarters of companies responsible for originating 78 percent of residential volume? You probably didn’t, as I just made that up out of thin air. Texas’ growth and not having state income tax both help. Here in Dallas at the TMBA Education Symposium, there is plenty of discussion about the industry incorporating non-traditional products into their lineups, such as reverse mortgages, bond programs, buydowns, renovation loans, construction to perm financing, and jumbo loans, all have value to lenders. Meanwhile, loan originators are looking at a “full stack” loan origination & processing platform like Realfinity.io to go “independent” allowing them to get the most competitive pricing directly from wholesale lenders with no overlays due to corporate expenses. (No, this is not a paid ad… Check out this WSJ article which really opened my eyes. To learn more about going independent reach out to Luca Dahlhausen.) Today’s podcast can be found here, and this week is sponsored by nCino makers of the nCino Mortgage Suite. With three products tailored to the needs of the modern mortgage lender, nCino Mortgage, nCino Incentive Compensation, and nCino Mortgage Analytics unite the people, systems, and stages of the mortgage process. Hear an interview with nCino’s Jay Arneja on the company’s rebrand and the seamlessness of the nCino Mortgage Suite.

Lender and Broker Software, Products, and Services

Is down payment assistance (DPA) actually making an impact in a brutal housing market? The answer is a resounding “yes” according to a newly released Urban Institute (UI) study. UI partnered with Down Payment Resource (DPR) to analyze 2022 HMDA data and DPA data from the 10 largest MSAs. Among the findings, 43.6% of purchase loans were potentially DPA-eligible. 36.7% of declined loans fell through because of DTI. 30.7% of declined loans (46,370) could potentially have been salvaged with DPA. This is especially relevant because it shows that DPA can prevent more declined loans by improving DTI ratios, a growing issue as interest rates rise. To get insight into how many DPA programs are available to help you save declined loans in your service area, schedule a demo with the DPR team.

Servbank is dedicated to creating excellence with every customer and client experience. Having personally experienced how subpar service can negatively impact your businesses and brand, we have consistently elevated our own standards through substantial investments in our people and technology to ensure we are delivering a consistent, best-in-class experience at every interaction point. Our efforts have yielded remarkable results: a 92% first-call resolution rate, a 99% customer satisfaction score, an 85% Net Promoter Score, with wait times of under 10 seconds. This forward-thinking commitment to creating excellence with every experience has positioned Servbank as a market leader and one of the nation’s 10 largest subservicers. As a genuine, collaborative partner, Servbank has the capability and determination to enhance your brand, keep your customers loyal, and improve your bottom line. Ready for a subservicer who goes above and beyond? Partner with Servbank.

Now available: New MERS® Automated Lien Release™ Now, loan servicers and sub-servicers can optimize efficiency and accuracy on process lien releases, all while significantly lowering cost, with the recently announced MERS® Automated Lien Release. Leverage the combined power of the MERS® System and the Simplifile® Document Builder lien release framework to streamline the lien release process for loans registered with MERS®. When a paid-in-full transaction is completed on the MERS® System, this triggers the creation of a compliant lien release package and processing workflow in Document Builder. With pre-populated compliant document templates, Automated Lien Release ensures accuracy and compliance with the latest regulatory requirements. By leveraging the loan updates already sent daily to MERS®, the solution is compatible with the servicing platform you use today, alleviating implementation challenges. Click here to learn more.

While the industry strives for a “fully digital” real estate transaction experience, we cannot lose sight of how important it is to make it easier for loan officers and other staff members to do their jobs. The experts at ICE understand this, which is why any new solution that is developed prioritizes the back-office experience just as much as the front-end experience. As EVP of Product Strategy Sandra Madigan tells HousingWire in a new interview: “You can put the most incredible technology in front of the consumer, but if you don’t work on streamlining the back-end part of the process, you have not delivered effective technology.” Read her full interview here, and see how ICE Mortgage Technology is digitizing the mortgage and servicing processes, while still providing the human-guided experience borrowers want.

It’s no secret. The industry is going through tough times, and Xactus, the leading verifications provider, is here to help guide you in navigating through these challenges. It anticipates credit costs will soon increase as much as 30-100 percent due to several external factors including inflation and out-of-pocket fees. This will, in turn, have a far-reaching impact on all lenders. At the MBA Annual, we heard a lot of “Survive until ’25.” But how is a lender supposed to do that with these rising costs? One way is to work with a partner like Xactus who has the experience to help you strategically review processes to efficiently and cost-effectively manage milestones, improve workflows, optimize outcomes and enhance margins. The right partner can even assist you with capturing market share by helping you mine leads within your existing portfolio and identify more prospects. That’s how lenders will survive until ’25 and eventually thrive. Collaborate more in ’24 with Xactus. Email Xactus today to schedule a consultation!

Sagent’s Five Principles for the Future of Servicing. A better homeowner experience begins, ends, and emanates out of simplified, unified operations, a key component as Sagent delivers on their future-of-servicing model for the industry at large. Check out their COO Marianne Sullivan’s latest blog, where she shares relevant intel about how an open ecosystem provides open opportunities to power a better customer experience while reducing total operational costs and powering real-time compliance for servicers. Read the full piece here where she breaks down their 5 guideposts for servicing innovation. (Spoiler alert: end-to-end servicing tech IS the future.)

Click button, collect fee. It’s as easy as that with Fee Chaser. No more missed appraisal fees. No more awkwardly taking down credit card numbers over the phone. No more data entry into the LOS. With Fee Chaser’s integration into Encompass® by ICE Mortgage Technology™, borrowers get a text message to pay a fee, and everything’s automatically updated including a receipt into the eFolder. Check out the borrower experience here.

Broker and Correspondent Programs

Every lender is looking for a competitive advantage in today’s tight lending environment. With AFR Wholesale® (AFR) take your Delegated Correspondent business to the next level. With competitive best effort and mandatory pricing, our partners can maximize their profitability. AFR will purchase a diverse program catalog, including completed Renovation, Construction, and Manufactured Homes on all program types. We are fully integrated with BAM and Resitrader for those who wish to shadow bid on their loans prior to signing up. Activate AFR in your pricing engine or contact the AFR Bulk Bid desk today or 973-298-8003. Not yet a partner? Sign up today to start taking action! Have questions? Contact AFR at afrwholesale.com, email us or call 1-800-375-6071.

Long-term Rental or Vacation Rental? Visio Lending is the nation’s leader in Non-QM Investor DSCR loans for buy and hold SFR rentals with nearly a decade of experience and over $2.5 billion in originations. No-DTI, 30-year terms, rate buy downs, free 45-day rate locks; I/O and Sub-1 DSCR options available. Through our top-notch Broker Program, brokers are able to earn up to 2 points YSP, and 5 points total. Visio Brokers can count on a designated Account Executive and in-house processing.

Training and Events, In-Person or Virtual

Deephaven Mortgage invites you to join its educational webinar “Opportunities in Today’s Mortgage Market With Deephaven and CoreLogic” on November 9th at 1:00 pm EST. Chief Sales Officer Tom Davis with Deephaven Mortgage and Chief Economist Selma Hepp, PhD at CoreLogic will discuss opportunities in today’s challenging mortgage environment. Selma brings extensive experience in analytics offering actionable and straightforward insights that are important to know. Selma and Tom will provide an update on the housing market, forecasts, demographic trends, and the non-QM products to expand offerings and increase volume. Don’t miss it! Register today.

A good place for longer term conference planning is to start is here, and click on “events” for conferences in the future.

Today, Tuesday, 11/7, is the next Mortgages with Millennials with Kristin Messerli and Robbie Chrisman. Tune in every Tuesday at 10AM PT to the weekly video show designed to empower mortgage professionals to tap into the millennial market. This show demystifies the psychology of first-time homebuyers and offers strategies to win more market share with a key segment of the market. Sign up for a weekly reminder with the link to join and a sneak peek into the next episode. Special guest Jordan Nutter, VP of the Influencer Division at NFM.

Join CAMP on today at 1PM PT to hear expert insurance panelists discuss why insurance companies are leaving California, what new regulations to expect, what are the best practices for your new home-buying clients and what happens if their insurance is cancelled.

Join NYMBA and Proof (formerly Notarize) for a webinar on operationalizing RON in New York, November 7th, 12-1pm. Learn the latest developments in New York State’s rollout of remote online notarization (RON) including the benefits for lenders, attorneys, and your customers. See a live demo of the Notarize platform and learn how RON can help your business from lending to servicing.

Discover what lies ahead in the world of home financing and interest rates with our upcoming webinar, “What Does the Road Ahead Look Like? Navigating Home Financing, Interest Rates, Planning, and More in 2024.” Join us on November 8th: Secure your spot now!

Tomorrow, looking for more in-depth commentary on weekly mortgage news? Register here for “Mortgage Matters: The Weekly Roundup” presented by Lenders One. Every Wednesday at 2:00 PM EST/11:00 AM PT is a dive into a range of mortgage-related topics, including market trends, interest rate fluctuations, innovative mortgage products, and industry advancements. Listen to a unique mix of age perspective, expertise, and charisma to the screen, ensuring that the information is not only educational but also entertaining. This week’s episode features respected attorney Brian Levy.

Join Optimal Blue for the next session in its hedging series, Wednesday, Nov. 8th at 11a.m. CT, Hedging 201: The Components of Pipeline Valuation. Take a deeper dive into the different components that make up your pipeline valuation. From data integrity to gain/loss reconciliation, this webinar will cover features and functionality that Optimal Blue’s hedging and loan trading services provide.

On Wednesday, November 8th at 11:30am–12:30 pm PT, join Orrick’s fourth session zoom conversation about what’s next in fair lending enforcement.

Join USDA Rural Development first live, virtual training for fiscal year 2024. Back to the Basics…SFHGLP Overview: 101 on Wednesday, November 8th | 2:00 pm – 3:00 pm ET.

Beginning in 2024, USDA-RD will be offering free monthly virtual live training events: USDA Rural Development 2024 training schedule.

Learn more about HFA Advantage® features and benefits, borrower eligibility, homebuyer education requirements and product enhancements. Register for a free Freddie Mac webinar on Wednesday, November 8, 2 pm – 3:30 pm ET.

The MBA of Eastern Pennsylvania is hosting its annual President’s Banquet on Thursday November 9, welcoming CNBC commentator Ron Insana for the keynote address. This event is open to members and nonmembers. Tickets can be purchased here.

Join Land Gorilla for an upcoming webinar on November 9 at 11 a.m. PT, “Florida Lien Law Overview For Construction Lenders,” which will cover statutory requirements and lender strategies for managing construction loans in the Sunshine State. If you can’t make the live session, register anyway and you will be sent the recording.

In support of the Credit Score and Credit Reports Initiative, FHFA will host a series of stakeholder forums. The initial topics will focus on the historical credit score files and the timing/sequencing of key project milestones. To register for any of the sessions outlined below and to stay up to date on future discussions, send your name, affiliation and contact information to [email protected]. Forum Schedule: Tuesday, November 7, 3-4 p.m. ET: Uses of Historical Data for Stakeholder Analysis. Tuesday, November 14, 3-4 p.m. ET: Sequencing of Project Milestones. Tuesday, November 28, 3 –4 p.m. ET: Uses of Historical Data for Stakeholder Analysis (cont’d). Tuesday, December 12, 3–4 p.m. ET: Sequencing of Project Milestones (cont’d).

In September, the CFPB included Loan Originator Compensation in its supervisory highlights. Are your compensation policies compliant? Register for the MMBA MLO Compensation Program Webinar on November 9th, 10:00 – Noon.

Friday the 10th is The Mortgage Collaborative’s Rundown covering current events in the mortgage market for 30-45 minutes starting at noon PT, 3PM ET, in “The Rundown”. This Friday’s features David Karandish with Capacity.

Capital Markets

There was a big rally over the last week as the sentiment that the Fed could be done raising rates swept through markets, allowing Treasuries to build on gains. However, this week opened with substantial sales as a knee jerk reaction to how far bond yields fell over the past seven days. That selling hasn’t really put in a dent in how much yields have risen over the past 18 months and the last time U.S. government bond yields climbed so far, so fast, the nation plunged into back-to-back recessions. And even with markets firmly in “bad news is good news” mode, everyone who has predicted a downturn since early last year has been incorrect. Even with the chance of a rate cut in March increasing to nearly 25 percent, for now, the Fed will continue to feel the pressure to keep rates high to battle price surges.

Today’s economic calendar is light and kicked off with the September trade deficit ($61.5 billion, moving higher). Expectations were for the trade deficit to deteriorate to $59.2 billion from $58.3 billion with consumer credit increasing $15.0 billion following the surprising $15.6 billion decline in August. Later today brings September consumer credit, Redbook same store sales, a Treasury auction of $48 billion 3-year notes, and a litany of Fed speakers. We begin the day with Agency MBS prices better than Monday night by a few ticks and the 10-year yielding 4.62 after closing yesterday at 4.66 percent; the 2-year is at 4.94.

Employment and Transitions

Merchants Bank of Indiana, continues to grow. The Carmel, IN based Bank knows these are challenging times, but also sees opportunity. Having recently reached $16 billion in assets, they continue to leverage their diversified business model to grow market share and assist their lending partners. They offer Correspondent Lending, Non delegated and Delegated; a Dedicated Wholesale platform for Banks and Credit Unions; Retail Lending and Warehouse financing. Their LO centric platform along with the strength and balance sheet of the bank allows them to expand market share in their regional markets. Contact Ron Berry, Retail Sales Leader to learn more about their LO opportunities. With the TPO market experiencing frequent Investor shakeup their committed, focused, and growing TPO channel is worth a look. Contact Rob Wilson, Correspondent Sales Executive to learn more about their Servicing Released Non Delegated, Delegated platforms and their Financial Institutions dedicated BCU Mortgage Services platform.

FHA has two vacancies for a Housing Program Policy Specialist. Duties include monitoring and evaluating agency operations to ensure policies and standards are maintained, up-to-date, and in compliance with respective guidance and procedures. Resolve many types of program policy issues involving single family mortgages and appraisal/valuation requirements presented by field staff, lending institutions, and other housing interests. Collect, review, and analyze a variety of data including statistical information. Announcement 23-HUD-2577-P.

FHA is accepting applications for a Management and Program Analyst, Announcement Number 23-HUD-3104-P. Responsibilities include development of procedures and systems for assessing the effectiveness of programs/management processes. Analyze and evaluate on a quantitative/qualitative basis the effectiveness of line program operations in meeting established goals and objectives. Direct and develop plans for project teams or other groups in accomplishing/producing projects/studies.

FHA is hiring a Single-Family Housing Specialist. This position is responsible for providing technical assistance and advice to the Single-Family Homeownership Centers on matters concerning risk management and monitoring of program participants. Serve as technical expert on established policies and procedures for monitoring lender/servicer performance.

View Job Announcement Number 23-HUD-3102-P for all job duties.

FHA has an open position for a Deputy Director, Quality Assurance Division. Job duties include exercising full managerial authority in assisting the Director in the planning and execution of assigned program operations and functions. Provide technical assistance and advice to the Single-Family Homeownership Centers on matters concerning risk management and monitoring of program participants. Prepare bulletins highlighting notable trends for management in Headquarters and the Homeownership Centers. For details, view Job Announcement Number 24-HUD-141-P.

DocMagic has promoted Chris Lewis to the role of Director of Sales, tasked with “building on DocMagic’s success as a market leader while also driving strategic sales initiatives for the company’s new innovations.” “His primary goal is to lead a team of subject matter experts in offering a consultative approach. This approach assists lenders of all sizes in realizing the cost-saving benefits and operational efficiencies of eClosings, which are becoming more prevalent in the industry.”

Morgan Barnes has joined the Real Estate Connection team as Director of Lender Relations. “As a licensed Real Estate Agent with keen organizational expertise, Morgan is committed to offering streamlined industry support to our lenders and agent partners.”

 Download our mobile app to get alerts for Rob Chrisman’s Commentary.

Source: mortgagenewsdaily.com

Apache is functioning normally

In order to make homeownership more accessible, loanDepot has launched a new program called “accessZERO.”

As the name suggests, it allows prospective home buyers to purchase a property without a down payment.

It comes at a time when affordability has rarely been worse, thanks to a combination of significantly higher mortgage rates and record high home prices.

At last glance, the popular 30-year fixed was approaching 8%, up from around 3% in early 2022.

And home prices continue to climb higher in most parts of the country, thanks to an ongoing lack of inventory.

How loanDepot accessZERO Works

To combat eroding affordability, SoCal-based direct lender loanDepot has unveiled accessZERO.

It combines a regular 3.5% down FHA loan with a repayable second mortgage that covers up to 5% of the purchase price.

This 5% can be used for both the down payment and for closing costs, allowing a home buyer to come to the table with nothing out of pocket.

The second mortgage is a 10-year, fully-amortized mortgage that is repaid like a normal mortgage.

As such, the borrower has two mortgage payments to make each month, but nothing is required upfront at closing.

For example, a buyer purchasing a $400,000 home could get a first mortgage for $386,000 and a $20,000 second mortgage to cover down payment and closing costs.

The resulting payments could be something like $2,700 on the first mortgage, assuming a 7.5% mortgage rate, and a somewhat nominal amount on the second because of its small size.

Depending on interest rate, it might add a couple hundred dollars to the overall payment.

The borrower would still need to qualify for both loans and they’d be factored into the maximum debt-to-income ratio.

Additionally, there is a minimum credit score required, which appears to be as low as a 600 FICO.

Both first-time home buyers and repeat home buyers are eligible for this program, which seems to be available nationwide.

The down payment assistance is offered by Tule River Finance Authority, according to an ad promoting the product by the company.

And homebuyer education may be required for first-time buyers taking advantage of the program.

However, unlike other near or zero-down mortgages, there do not appear to be any area median income (AMI) restrictions.

So it should be open to all those who would typically qualify for an FHA loan.

Is Down Payment Still a Hurdle? Or Is It the Monthly Payment?

While loanDepot’s new accessZERO program tackles the down payment head-on, it still makes you wonder about monthly payment.

Over the years, down payment has often proved to be a hurdle to homeownership, but lately it might be mortgage payment.

After all, mortgage rates have surged in the past 20 months or so, rising from 3% to nearly 8%.

Requiring homeowners to make two monthly mortgage payments instead of just one could more strain on the borrower’s DTI ratio.

So while they won’t necessarily need the down payment, qualifying for both mortgages could prove to be more difficult.

But for someone uninterested or unable to come up with down payment funds, it could be a workable solution if the income is there.

Just note that mortgage rates are often higher the less you put down, so that too could bump up total housing costs.

Earlier this year, Movement Mortgage launched a zero down FHA loan as well, which seems to be structured quite similarly.

Known as Movement Boost, it combines a 3.5% down FHA loan with a repayable 10-year second mortgage for up to 5% of the purchase price.

And the interest rate on the second loan is set at 2% above the rate on the first mortgage.

Lately, a handful of lenders have also launched 1% down mortgages, though many of these have area income restrictions.

Some examples include the U.S. Bank Access Home Loan, the Rocket Mortgage One+, and Conventional 1% Down from wholesale lender UWM.

Meanwhile, Frost Bank launched a zero down home loan known as the Progress Mortgage.

So it’s clear affordability continues to be an issue for many of today’s prospective home buyers, with no letup in sight.

loanDepot accessZERO Highlights

  • A zero-down FHA loan
  • Combines a 3.5% down first mortgage with a second mortgage
  • Second mortgage covers up to 5% in downpayment assistance
  • Can be used for both the down payment and closing costs
  • First-time and repeat home buyers permitted
  • There do not appear to be area income restrictions
  • Must be an owner-occupied property
  • Minimum FICO score of 600
  • Available to home buyers nationwide

Source: thetruthaboutmortgage.com

Apache is functioning normally

There’s not much by way of “new news” for the housing market when it comes to sales data.  New home sales continue strongly outperforming while Existing and Pending Sales suffer.

This week’s reports for the month of September offer no objection to that thesis.  Yesterday’s New Home Sales report showed a 12.3% surge to an annual pace of 759k. This is a notoriously volatile data series in month-to-month terms, but September’s gains were more than enough to offset the downtick seen in August. The result is the highest sales pace since 2021 when the housing market was still decelerating from the post-covid surge.

Improvement was broad-based across regions.  As is the norm, the southern region does most of the heavy lifting with the West playing a supporting role.  The Midwest is measurable but barely, and the Northeast continues to be “out of land.” Still, the Northeast managed a 22.5% increase from last month, adding 4k to the total.  Contrast that to a 14.6% uptick in the South for a total addition of 36k.

Builders continue working through their construction pipelines.  In non-seasonally adjusted terms, unsold homes under construction remain in the 260k range, down from the low 300s in late 2022.  Completed homes have consistently hovered in the same 60-75k range.  

One of the most notable shifts in the data series is the percentage of homes in the 200-299k price range.  21% of homes fell into that category in 2021, followed by only 9% in 2022.  With rates and median prices increasing since then, it’s a surprise to see a bounce back to 16% of the market in the most recent data.  Granted, that’s just for September, but the 2023 average is already up to 13%.  If you’ve seen an ad for a shoebox on a postage stamp recently, you have a sense of how these numbers could actually make sense.

In any event, it’s clear and it’s no surprise that new construction is the only game in town when it comes to inventory.  Builders are also being aggressive in their efforts to offer buyers the lowest possible rates in this high rate environment (frequently by using sales margins to buy down interest rates at “preferred lenders”). 

Pending Home Sales are dependent on homeowners listing their homes.  Some have to, but the barriers are very high in this interest rate environment.  Logical outcomes ensue.

Did you see this month’s “uptick?”  Yeah… it is hard to see.  At least it was an uptick.  Thanks, Midwest!

This too shall pass, but not until rates come down a bit, or some other creative means of promoting residential mobility are devised.

Here are the official releases:

Pending Sales – https://www.nar.realtor/newsroom/pending-home-sales-grew-1-1-in-september

New Home Sales – https://www.census.gov/construction/nrs/pdf/newressales.pdf

Source: mortgagenewsdaily.com

Apache is functioning normally

Looking to turn your home into a cozy and stylish haven? We’ve got a delightful surprise for you! Prepare to be amazed as we unveil a curated collection of 30 home decor treasures that will elevate your space. From incredibly lifelike artificial plants that bring nature indoors with zero maintenance, to luxurious blankets that add a touch of elegance to your living room, and oh-so-comfortable chairs that beckon you to relax after a long day—this incredible assortment is like investing in a beautiful and comfortable future. With these unique finds from Amazon, you can create an inviting atmosphere that will make your guests wonder how you managed to find such amazing pieces.

Review: “This set was pretty quick to throw together with an extra pair of hands. Everything came securely wrapped and well protected. Perfect budget friendly set!” – jrenken88

amazon.com , jrenken88 Report

Review: “I did not expect the sturdiness that this stand has. It is absolutely beautiful once it’s finished. The wood is thick, there’s nothing flimsy on this thing. The actual fireplace has kept my living room toasty. And this weekend our heat just isn’t keeping up, so I’m so glad it came when it did. We’ve kept the heat on for the whole day and all night before heading to bed and it seems like this thing is quality. The shelves are so deep, I can fit multiple game units and our surround sound w out it looking cluttered. And of course my 4 year old enjoys the different color light show lol. Honestly it upgraded our living room. The tv shown is a 65”, and there’s a lot more space around it and in front of it. Our old stand was half the size holding this tv so really this is an amazing upgrade for us. I’m really in love w the quality and how modern this is. Probably the best thing I’ve bought on amazon. Now my only con. Took me forever to put it together… I had a 4 year old distracting me tho. But there’s ALOT of boxes within boxes and ALOT of styrofoam. I mean a lot lol. So be ready to have a major clean up. Otherwise I would totally recommend this stand. Absolutely gorgeous” – Jujubean

amazon.com , Jujubean Report

Review: “This is a beautiful bust. I have been buying a lot of things to decorate my Latin classroom with and, normally, when the items are this intricate, they are also small, but this busy is both intricately detailed and large. It was actually quite a bit bigger than I expected, but fits beautifully with the rest of my classroom decor. This is, perhaps, the center piece of my classroom.” – Tad

amazon.com , Tad Report

Review: “Ordered it after looking at many more expensive options in the furniture stores, ready to return it if we felt it was lower quality and cheap looking. Arrived today and after a simple assembly we feel it is perfect…very elegant and very sturdy. Replaced the supplied bulb with a smart led and we can now control brightness and color with voice commands. A+” – Flamethrower

amazon.com , Flamethrower Report

Review: “These shelves were perfect for my accent wall in my dining room. They are super easy to hang. I was able to hit the studs for both hooks because they placed them in the right location on the shelf. They are truly authentic with nail holes and even a nail. So cool. 7” is plenty of depth to put accessories on. Worth the money.” – K.Ryan

amazon.com , K.Ryan Report

Review: “This lamp was a great complementary piece for our boho style living room. The natural shade added the perfect touch. It fit well next to our sofa . Great looking lamp for an affordable price . Totally on trend . Good vibe . ” – Amazon Customer

amazon.com , Amazon Customer Report

Review: “This was a great buy. Just what I had been looking for, it’s very sturdy with a slight bit of weight but, not heavy by no means to handle. I’m glad I got it. You won’t be disappointed. The seller definitely did an awesome job on this one and it was packaged very very well and delivered with care. Now to decide where to put put because I want to hang it up on my wall.” – BB

amazon.com , BB Report

Review: “I have bought so many things on Amazon and I do get let down often. This tree exceeded anything I thought I would be getting. The details are perfection. The material is perfection. It came in perfect condition. I simply took it out of the box and placed it in the planter I bought for it then fluffed out the leaves. It was so easy to do by myself. The leaves look so green and real like trees I’m used to in Florida but they don’t grow where I live now. Plus it smelled good. Not like a perfume or anything just clean. – Ciscojrmpswife

amazon.com , Ciscojrmpswife Report

Review: “I am shocked by the value and quality! The Amethyst has a rich purple color and is more than a value, more than! I highly reccomend it!” – Odalisque

amazon.com/ , Odalisque Report

Review: “This rug is perfect for my closet. Stylish, cozy and soft on bare feet yet thin enough for my chair to roll over. Does not slide or shed (as stated in other reviews) and vacuums up well. Have not washed it yet but definitely a great buy!” – Tina

amazon.com , Tina Report

Review: “I wanted something to accompany the 50th Wedding Anniversary Card that I got for my wife. There would be plenty of real flowers, a family celebration and many gifts. I wanted something simple yet permanent that would stand out in our already filled China Cabinet. This is perfect. It doesn’t take much space. It is very well done, solid yet delicate. Attractive well made box for storage if need be. It will soon be added to our life-long precious collectibles and will hold its own.” – WallyH

amazon.com , WallyH Report

See Also on Bored Panda

Review: “I ordered this rug in the Grey/Brown color option. It is perfect for tying my brown wood furniture and dark grey floors together. It is also a great color/pattern combo for hiding any little spills my toddler or dog might have. The thickness is enough that it is comfortable and padded underfoot, but not thick enough for a lot of crumbs, dirt, hair, etc. to get stuck in the fibers. It definitely can be vacuumed easily. Overall I am very happy with this purchase and buy this rug again for other rooms! The picture shows the rug right out of the bag, so the side is still a little curled. After an hour or so it is already flattening out.” – Scott Hammock

amazon.com , Scott Hammock Report

Review: “Loved that they came in a set, so you know they’re going to be identical. Wonderful size. Tall. Perfect. Note. In order to get the leaves to look like the ad picture: when installing, the leaves are in various sizes and you can put them wherever you’d like. Smaller on the bottom, larger on top, works best. Alternating colors. Initially, they stick straight up. To get the curved look, roll the “leaves” by hand. Do not try to bend the wire between the leaf and the stem. They really do look quite real” – Good

amazon.com , Good Report

Review: “I love this screen. We placed it on our deck for a privacy screen and love it. It is a very versatile screen and I have used it in several places in the house as well. It looks great on the deck as you can see. I ordered 30″ zip ties when I ordered the screen and have used the zip ties to gently secure the screen to the deck posts for windy days. I want to order another!” – Buckleysangel

amazon.com , Buckleysangel Report

Review: “I had a great TV stand that I really liked because it was open. I decided to order this one because the top was going to raise the height of the tv. At the last minute I decided NOT to add the back & the doors so that it would be exactly like the previous one, so I wanted a buyer to know you can leave off the back & doors if you choose & it looks great. When I get bored I change things often, so if I decide to add the back & doors it will be like a different piece of furniture. I am so pleased with this purchase.” – Robinette Fields

amazon.com , Robinette Fields Report

Review: “I was very apprehensive because it was only a two ounce candle pretty small but wow it’s mighty. I understand the price now. I’m going to say buying the 8oz version is going to be totally worth it because this candle lasts a while and you don’t need to leave it on for long and the smell will Permeate the entire area and it’s very strong. I would also say this is a great gift for anyone and especially for a masculine man.” – That One Girl

amazon.com , That One Girl Report

Review: “The quality of these shelves is awesome. And, they are so easy to put together! I chose to get the adjustable option so I could customize my shelves. I chose to leave one shelf out to have a bit more room. And, the price point is right in line with the quality in my opinion.” – Heather Lowery

amazon.com , Heather Lowery Report

Review: “Very realistic. Soft. Very lux looking. True to color. Great size for the sofa. I have yet to clean this but my hunch would be to avoid tumble drying. I purchased primarily for the look. Not to actually use as a blanket. So far no shedding. I’m in love with this throw. Excellent accessory to mark the cold season. BUY IT! – Markita

amazon.com , Markita Report

Review: “These three coffee tables are so beautiful and came in much larger than I expected. It really fits in a large living room. The install was straightforward but due to the arch we had to spend sometime lining the holes up. I love these coffee tables in the living room!” – Janice

amazon.com , Janice Report

See Also on Bored Panda

Review: “Got two of these for dorm room and was pleasantly surprised by the weightiness of the mirrors. It is a solid, sturdy piece and I feel confident it will still be standing at the end of this school year. They look great in the room!!” – Kat

amazon.com , Kat Report

Review: “I bought the 30” and 40” bottle to fill in space next to my entertainment center in the living room. I was pleasantly surprised when they arrived. They were very well packed and when I unpacked them , they were very sturdy and heavy. I loved the look of the recycled glass. – Terry A Stiles

amazon.com , Terry A Stiles Report

Source: boredpanda.com