Nationwide Property & Appraisal Services LLC (NPAS), a pioneer in the real estate appraisal sector, announced on Tuesday the launch of its product line, Pinnacle Desktop Appraisals. This service delivers a cost-effective solution that enhances efficiency, accuracy, and impartiality, according to the company.
Designed to cater to the needs of home equity lenders, fix and flip lenders, and bank default departments, Pinnacle Desktop Appraisals leverages the expertise of real estate professionals utilizing cutting-edge technology to streamline the collection of appraisal data while engaging local appraisers.
By separating the data collection and valuation processes, potential bias is eliminated, ensuring that homeowners and appraisers never meet. This approach combines advanced technology with the skills of real estate professionals, resulting in faster turnaround times and reduced costs without compromising quality.
“We are thrilled to introduce Pinnacle Desktop Appraisals to the market,” said Michael Kirk, chief innovation officer at NPAS. “Our service not only meets the definition of an Appraisal under USPAP but also provides a seamless upgrade from an AVM to a Desktop. It offers flexibility in the forms, allowing for the inclusion of additional addendums such as rent schedules.”
Founded in 2008, NPAS was the country’s first licensed appraisal management company (AMC). It has consistently ranked as the top choice for appraisers and clients, excelling in service, turn-time, and quality. With a nationwide presence and a culture of excellence, NPAS continues to expand its coverage and strengthen its team.
“We are proud of the evolution we have experienced since our inception,” Kirk said. “Through strategic partnerships and acquisitions, we have expanded our coverage and enhanced our collective culture and community.”
Nationwide Property & Appraisal Services LLC is a leading AMC providing comprehensive solutions on a nationwide scale. Renowned for service, quick turnaround times, and quality, NPAS has established itself as an industry leader.
This content was generated using AI, and was edited and fact-checked by HousingWire’s editors.
Now, AI is not the future of the mortgage industry – it is the present. Shannon Johnson (pictured), product manager at Tavant, has worked in the mortgage industry for almost 35 years, starting as a loan processor, and has seen how much the field has changed technologically over the decades. “When I started in the … [Read more…]
Have you ever heard somebody’s job title and wondered what it is they even do all day? Some jobs just seem useless, either to outside observers, or even to the people hired to work them. Some jobs are crucial to the organization; others are average, and some jobs may be just an accessory or unnecessary. Here are 17 jobs people hesitate to admit they find completely useless. Is your job here? Continue reading and let us know in the comments!
1. Sorting Files
One person shared, “My very first job. I’m a toxicologist and was hired by a very big private laboratory. My main job was to sort and redirect case files depending on the time at which the results came out. THE DOCUMENTS WERE SENT TO ME IN EXCEL. I was getting paid to just click sort by date descendingly.”
Another user replied, “I had to do something similar to this when I was doing summer help at a steel factory. They paid me $14 an hour to sit there for eight hours and just move files to different folders and rename them. Sometimes I would pull weeds and paint walls, but that was about it.”
Sorting Files
Another added, “Working for a big company, one of the top 20 in the world, I am realising how bad people are with basic computer tasks… like really bad!”
2. Teachers who Don’t Teach
“My math teacher who tells me to log in to Pearson and then disappears,” one person stated.
“I dropped a university class this term because the week 3 assignment said to ‘look up how to do this on Google, Stackexchange, or ChatGPT.’ I’m not paying 1400 dollars to be taught by an AI chat bot, [lol],” another one shared.
“As a teacher myself, trust me, these are the kinds of colleagues we can’t stand,” one Redditor added.
3. Management Consultant
One person stated, “Mine. I’m a management consultant and while I have quite a bit of industry knowledge and experience, my clients either have the same knowledge or they aren’t willing to accept change. Often times my firm gets paid a lot of money to make very little difference strategically and/or operationally. Where we do add value is in implementing enterprise-wide software solutions. Why do I stay? The money is pretty good given the futility.”
“I heard from an acquaintance of mine who is a management consultant that most of the time people just want to hear their ideas out of someone else’s mouth and will pay you to do it so that their peers will be more amenable to the idea,” another user replied.
One commenter added, “Nothing like a bunch of 20 somethings telling a bunch of C-Suit executives how to run a business.”
4. Pet Psychic
One user said, “Our Golden Retriever was getting joint therapy (shoulder injury, worked with a vet, dog did swimming three days a week in a heated pool where he could exercise without putting weight on the joint, also did some exercises, is now fine. The place also did laser therapy and acupuncture for dogs.) Someone said something about ‘Hudson’ which is our dog’s name only they were talking to another dog. ‘Oh,’ they said, ‘That’s the dog psychic’s dog.’ Apparently you could find out what your dog was thinking. I know what my dog is thinking. Most of the time he either wants what I’m eating or he wants me to throw the ball.”
Another Redditor replied, “My cousin is a ‘pet psychic.’ She’s got quite the following on IG, a fancy website, and even a podcast. She claims to receive telepathic messages from your furry friends. She can even talk to reptiles and horses now! And she’s not horsing around, apparently each species requires a specific training. I’m not sure if she’s delusional or just scamming people, but either way, she’s making a lot of $$$.”
5. Elevator Attendant
One person shared, “I’m so old I remember when they had these in department stores. Whilst shopping with my grandma one day we got in an elevator and the attendant asked if we wanted the second floor. My grandma replies, ‘Why yes, how did you know?’ He says, ‘Ma’am, there’s only two floors, and we’re currently on the first one.’”
“They’re from an era of manually operated elevators. You used to have to close the doors manually then use a lever to control the elevator and stop it just right at the floor you wanted. It was tricky and very dangerous if you got it wrong, so you had an elevator operator whose job it was to run the elevator,” the second one replied.
6. Telemarketers
“Telemarketers, I don’t know a single person who has actually purchased something from a telemarketer. Maybe it’s something the older generation does but everyone hates them and immediately hangs up on them around me,” one person stated.
“I worked as a telemarketer for State Farm when I got out of high school, and in 8 months I had one person actually let me give her a quote. It was my aunt,” another Redditor replied.
One commenter added, “I remember when I was 12 I told this random telemarketer to get a life because at that point we were getting like 5-10 calls a day. She called me back and cussed me out. To this day, I think it’s so funny.”
7. Sign Spinners
Sign spinners, or sign twirlers, are people who hold a sign and stand on the street to get attention and possibly a customer for the business that hired them.
“The job only exists because the businesses want to put a sign there, but it’s cheaper or the only legal option to hire a person to hold the sign and stand there,” one person shared.
“That was my job for one summer in college. I got to hang out outside and listen to music all day. But I always thought it was weird that they were paying some guy $15/hr to do the job of a stick and a piece of duct tape,” another commenter replied.
One Redditor added, “I had a job like that except I didn’t even have to hold the sign. They said I could just lean it against the front of the store and stand next to it.”
8. Paparazzi
Everybody knows what the paparazzi jobs are doing—stalking people, taking pictures of them, and making money.
“You know why paparazzi make a ton of money and keep doing what they are doing? Because people keep buying their photos to put in magazines that people keep buying. Stop buying the magazines and watching the shows that feature their photos, and the paparazzi will go away. Easy peasy,” one person said.
Another commenter replied, “Scum of the earth.”
One user added, “They’re just filling a demand. I blame and judge those that consume the media they produce.”
9. Bathroom Attendants
One person said, “I don’t need somebody in there pulling paper towels out of the dispenser just to hand it to me and compel me to tip them.” The second one replied, “I never saw this until I was visiting Ireland a few years back, and man, was it annoying. It’s bad enough there’s a guy standing at the sinks watching you have a leak, but then he wants a euro or two for handing you a towel to dry your hands.”
Another commenter said, “They’re essentially bathroom security guards. They prevent people from doing drugs and having sex in the bathroom.”
10. Patent Trolls
One user said, “People that apply for Patents. And then just hold onto them forever with no intent of making the thing. And then when somebody does make the thing, ho-boy, you owe me money because I own the rights to that thing! It’s one of those weird ‘Do nothing and hope to eventually get a big payout’ jobs, like Domain Squatters.”
Another commenter stated, “There should be a law that makes the patent public domain if the owner doesn’t actually use it. It would probably accelerate the progress of humanity by a big factor.”
11. Shop Security
One person said, “Shop security—in most cases, they can’t legally do anything but just watch.”
Another user replied, “Depends on the type of security they invest in. Security guards who stand at the door all day in a uniform—yes you’re right, in most cases, they’re used as a deterrent. However, store detectives go undercover and try to blend in with other customers (in their own clothes, browsing stock and carrying a basket/trolley) so that they go unnoticed. Those people are allowed to tackle shoplifters and actually do something about it.”
One commenter said, “Security is used primarily for insurance and tax reasons. You have to show that your actively trying to prevent and deter theft and accidents.”
12. Car Dealerships
“Just let me buy a car from the factory. Your job is to get me to pay as much as possible. So useless and so annoying,” one person said.
“It’s an ancient law that mandated dealerships so you’d have a guaranteed mechanic to work on it. Obsolete since auto shops are a thing,” another user replied.
“Car salespeople, realtors, stock brokers. They are pure middlemen who produce nothing for society other than putting cash in their own pocket,” another added.
13. Health Insurance Operators
One person said, “While it’s a billion-dollar industry, health insurance. Literally, they exist to prevent you from cashing out on what you paid into. They have little to no medical knowledge, make everything more expensive, and exist solely as a useless middleman to make themselves rich.”
Another person shared, “Exactly. They just refused to cover my medication that they suggested several years ago to replace another medication that they did not want to cover at the time. This time they didn’t even offer a replacement, just refused to cover my meds without any explanation. It’s an absurd world where the insurance company makes decisions on my healthcare instead of my doctor.”
14. Homeopath
“I’ll do you one better, a few weeks I saw an ad for a homeopathic veterinary doctor. I feel bad for the animals unfortunate enough to find themselves as patients,” one person shared.
“Ugh. Literally the only possible benefit homeopathy could have due to the placebo effect. Pets ain’t even benefiting from that,” the second replied.
15. Reiki Healer
One person stated, “I knew a lady, very nice and caring, but off the wall hippie, who would charge people to hold her hand over them and transmit ‘healing energy.’ She also offered long-distance reiki where she promised to send you healing energy from her couch and would even set appointments to do just that.”
Another user added, “The funny thing is anyone can just open a Reiki clinic and call themselves an expert/shaman. If you go to school for it you’re just another victim of the grift.”
16. Middle Management
“Most middle management positions. Their job is literally to take things from above and send them below, and to have someone to shift blame to.” one person expressed.
“Don’t forget all the useless meetings that they organize. I bet redundant managers everywhere were really sweating for their jobs when everyone was WFH,” another one added.
Another commenter said, “You clearly have no idea what management does. Or worked on a team that was poorly managed.”
17. Hedge Fund Managers
One Reddit user said, “They produce no goods or services that actually make the world a better place. They are gamblers and leeches on society.”
Another user replied, “I’m convinced that half the time, even the news articles about stocks are [intentionally] misleading in order to get uninformed people to bet against the winning play.”
Original Reddit Thread here.
Here are 10 of The Most Beautiful Songs People Have Ever Heard
What’s your favorite song of all time? Check out this article with ten of people’s favorite songs of all time.
10 Movies People Said were Awful that are Actually Great
Have you ever been warned away from a terrible movie only to discover that you really love it? Check out this list of movies people said were terrible, but turned out to be fantastic!
10 Actors People Never Believed would Become as Big as they Did
Have you ever been surprised at an actor or actress’s success? Us too: check out this article of celebrities we never thought would get this popular.
10 Celebrities People Automatically Assume will make a Movie Great
Who’s your favorite celebrity? Would you watch anything they’re cast in? Check out this compilation of Redditors’ favorite actors!
10 Best One-Note Actors of All Time
Can you think of any actors or actresses who were great, and then weren’t? Here’s our top list of one-hit wonders, all in one place!
Top Producer Software, a leading real estate software provider, announced on Monday the release of its first-ever social media lead product, Social Connect. This new product combines social media marketing with automated lead nurture to enable real estate agents to grow their database and convert more leads into clients.
“Social Connect is a game changer for our customers with the number of quality interactions being generated,” Kerm Foltz, senior vice president of operations at Top Producer, said.
Social media has become an indispensable tool for real estate agents to expand their networks and attract potential clients. According to industry data, more than 95% of home buyers utilize online tools during their home search.
To capitalize on this trend, Social Connect leverages social media advertising to reach a broader audience, targeting leads that the advertising algorithm identifies as more likely to make a home purchase.
Incoming leads from Social Connect are automatically sent to the customer relationship management (CRM) system, where they receive relevant content tailored to their needs. This includes branded market reports, infographics, and other educational materials aimed at engaging leads and converting them into clients.
Top Producer also has access to one of the largest multiple listing service (MLS) networks and utilizes live MLS data to create active and sold listing ads, which are then optimized by a team of advertising experts. Agents only need to select their target city and budget, leaving the rest to Top Producer Social Connect.
In addition to its other features, the system generates a high volume of affordable leads with accurate contact information while also utilizing Top Producer’s smart follow-up technology.
Top Producer tracks all the essential activities of leads in a centralized location within the CRM. This allows agents to provide exceptional service by accessing the communication history and saved property inquiries associated with each lead’s contact record.
“The lead nurture content is one of the big advantages of Top Producer Social Connect. Messages don’t sound canned, have a better personality than other lead generation follow-up systems and include nice infographics,” said real estate agent Marty Soller.
Top Producer Software has been a trusted provider of innovative real estate software solutions for over 40 years, assisting tens of thousands of real estate professionals in streamlining their businesses and maximizing their networks. The company is part of the Constellation Real Estate Group.
This content was generated using AI, and was edited and fact-checked by HousingWire’s editors.
Long, long ago, in a mystical forest with good Wi-Fi, Goldilocks opened an investing account with $3,000 to invest.
At first, she considered pouring more money into her retirement accounts (which only holds mutual fund investments). But her Roth IRA was already maxed out for the year. Moreover, she knew that she would need this money sooner than age 65.
“Too cold!” she said.
Next, she considered investing in individual stocks. But even though she’d done her due diligence, she knew that investing in individual securities can be very risky. She didn’t need to become a millionaire overnight – she just wanted to make enough money to buy a cottage in a few years.
“Too hot!” she said.
Finally, she began browsing ETFs. ETFs are generally more stable, diverse, and safe investments than individual stocks, but they’re also more accessible than your retirement account.
“Juuuuust right!” she said aloud.
10 years later, Goldilocks’ investment had paid off – thanks to a steady 10% APY, her $3,000 investment had become nearly $8,000, so she was finally able to pay restitution and legal fees to the family of bears down the way.
Thanks to inherent diversity and steady returns, ETFs are a great place to stash a few grand to help you save for a big expense years or decades down the line.
What’s Ahead:
Large-cap stock ETFs
Large-cap ETFs typically bundle together blue-chip stocks or even an entire index, providing steady, sizeable returns. Warren Buffet once famously said:
“I just think that the best thing to do is buy 90% in S&P 500 index fund.”
So I’ve included two such options on the list.
You’ll also see a lot of Vanguard funds on this list because, well, they’re just awesome all the way around. Vanguard funds are extremely popular among investors because they combine industry-leading returns with incredibly low expense ratios.
ETF
Symbol
Fund info
Expense ratio
Schwab US Large-Cap Growth ETF™
SCHG
The fund’s goal is to track as closely as possible, before fees and expenses, the total return of the Dow Jones U.S. Large-Cap Growth Total Stock Market Index.
0.04%
SPDR S&P 500 ETF
SPY
The SPDR® S&P 500® ETF Trust seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of the S&P 500® Index (the “Index”).
0.0945%
Vanguard S&P 500 ETF
VOO
The Vanguard S&P 500 ETF invests in stocks in the S&P 500 Index, representing 500 of the largest U.S. companies.
0.03%
Vanguard Russell 1000 Growth ETF
VONG
The investment seeks to track the performance of the Russell 1000® Growth Index. The index is designed to measure the performance of large-capitalization growth stocks in the United States.
0.08%
Mid-cap stock ETFs
Goldilocks’ choice – mid-cap ETFs – bundle together companies that have an exciting growth curve before them, but are established enough not to fold overnight.
If you can tolerate a little more risk in exchange for higher potential returns than an index fund, consider these top picks:
ETF
Symbol
Fund info
Expense ratio
Vanguard Mid-Cap Growth ETF
VOT
VOT seeks to track the performance of the CRSP US Mid Cap Growth Index, which measures the investment return of mid-capitalization growth stocks.
0.07%
iShares Core S&P Mid-Cap ETF
IJF
IJF seeks to track the investment results of an index composed of mid-capitalization U.S. equities.
0.05%
Vanguard Mid-Cap ETF
VO
VO seeks to track the performance of the CRSP US Mid Cap Index, which measures the investment return of mid-capitalization stocks.
0.04%
Schwab U.S. Mid-Cap ETF
SCHM
SCHM’s goal is to track as closely as possible, before fees and expenses, the total return of the Dow Jones U.S. Mid-Cap Total Stock Market Index.
0.04%
Small-cap stock ETFs
If you’ve looked at your asset portfolio recently and thought “hmm… needs a little more spice,” then a small-cap ETF might add just the right amount of kick.
These ETFs track small companies with big potential, so they present higher risk but higher potential reward than large- or mid-cap ETFs.
ETF
Symbol
Fund info
Expense ratio
Vanguard S&P Small-Cap 600 Growth ETF
VIOG
VIOG employs an indexing investment approach designed to track the performance of the S&P SmallCap 600® Growth Index, which represents the growth companies, as determined by the index sponsor, of the S&P SmallCap 600 Index.
0.15%
Vanguard Small-Cap ETF
VB
VB seeks to track the performance of the CRSP US Small Cap Index, which measures the investment return of small-capitalization stocks.
0.05%
iShares Core S&P Small-Cap ETF
IJR
IJR seeks to track the investment results of an index composed of small-capitalization U.S. equities.
0.06%
Schwab U.S. Small-Cap ETF
SCHA
SCHA’s goal is to track as closely as possible, before fees and expenses, the total return of the Dow Jones U.S. Small-Cap Total Stock Market Index.
0.04%
International stock ETFs
ETF
Symbol
Fund info
Expense ratio
Vanguard Emerging Markets ETF
VWO
VWO invests in stocks of companies located in emerging markets around the world, such as China, Brazil, Taiwan, and South Africa.
0.10%
Vanguard Total International Stock ETF
VXUS
VXUS seeks to track the performance of the FTSE Global All Cap ex US Index, which measures the investment return of stocks issued by companies located outside the United States.
0.08%
SPDR® MSCI EAFE Fossil Fuel Free ETF
EFAX
EFAX seeks to offer climate-conscious investors exposure to international equities while limiting exposure to companies owning fossil fuel reserves.
0.20%
Vanguard FTSE Developed Markets ETF
VEA
VEA provides a convenient way to match the performance of a diversified group of stocks of large-, mid-, and small-cap companies located in Canada and the major markets of Europe and the Pacific region.
0.05%
Fixed income ETFs
ETF
Symbol
Fund info
Expense ratio
iShares Core U.S. Aggregate Bond ETF
AGG
AGG seeks to track the investment results of an index composed of the total U.S. investment-grade bond market.
0.05%
Vanguard Total Bond Market ETF
BND
BND’s investment objective is to seek to track the performance of a broad, market-weighted bond index.
0.035%
Vanguard Intermediate-Term Corporate Bond ETF
VCIT
VCIT seeks to provide a moderate and sustainable level of current income by investing primarily in high-quality (investment-grade) corporate bonds.
0.05%
Schwab 1-5 Year Corporate Bond ETF
SCHJ
SCHJ’s goal is to track as closely as possible, before fees and expenses, the total return of an index that measures the performance of the short-term U.S. corporate bond market.
0.05%
What does large-cap, mid-cap, etc. mean?
To start, “cap” refers to market capitalization, or the total value of a company’s shares on the market. For example, if a company has 1 million shares on the market valued at $10 a pop, their market cap would be $10 million.
Large-cap ETFs are comprised of companies each with a market cap of $10 billion or higher. The Vanguard Mega Cap ETF (MGC), for example, contains around 250 of the biggest companies in the USA, from Amazon to Apple. Since they’re often full of blue-chip stocks that provide slow-but-steady returns, large-cap ETFs are considered a safe, long-term investment.
Mid-cap ETFsare comprised of companies each with a market cap in the $2 to $10 billion range. All ETFs are designed to succeed and make money, so mid-cap ETFs are filled with midsized companies that are in the middle of their “growth curve,” so to speak – they’re high-performing, high-potential companies that may become the next blue-chip, so mid-cap ETFs balance risk and reward.
Small-cap ETFsare comprised of companies each with a market cap of “just” $300 million to $2 billion. Fund managers who design small-cap ETFs cast a wide net, aiming to scoop up “the next big thing.” As a result, these ETFs have higher growth potential than most ETFs, but also steeper downside if the smaller companies within end up folding.
International ETFsare, as the name so subtly hints, full of non-U.S. stocks and securities. There are country-specific ETFs, foreign industry ETFs (think non-U.S. automotive stocks), and even ETFs representing emerging markets like sub-Saharan Africa and Brazil.
Fixed income ETFs, aka bond ETFs, give you access to diverse bond investments. For the uninitiated, bonds are like loans you make to companies or governments that they pay back with interest. You can read more about bonds here, but the bottom line is this: fixed-income ETFs provide steady income in the form of dividends, so they’re a good choice if you want a safe investment that gives you a paycheck!
Read more:How To Invest In ETFs
Which type of ETF is right for you?
Well, it depends on both your goals and your risk tolerance.
If you can tolerate some risk in your portfolio, and want your ETF investment to pay off sooner than later (within five years), you may want to consider small-cap and mid-cap ETFs. They’re riskier, but have higher upside potential.
If you’re looking for a safer investment that will multiply your money over a longer horizon (5+ years), a large-cap ETF is probably a fit.
If you’d like your ETF investment to provide a trickle of cashback each month, fixed income ETFs are probably your best bet.
And finally, if you don’t mind doing a little research or believe strongly in the economic performance of a foreign market, you’ll be a fan of international ETFs.
Read more: How To Determine Your Investing Risk Tolerance
About our criteria
With hundreds of commission-free ETFs available, how did these become the winners?
To make this list, ETFs had to impress in all of the following categories:
Earnings potential.Naturally, the first thing looked at was the ETF’s performance over the past five years. A good sign of a healthy ETF is how quickly it bounced back in Q3 2020 after the market panic surrounding the COVID-19 pandemic. Springboarding back and surpassing Q1 levels are a sign of investor confidence, and helped solidify the ETF’s place on this list.
Expense ratio.Next, I looked at the ETF’s expense ratio. Your expense ratio is the percentage of your investment you pay to the fund manager for having shares of the ETF. Although measured in fractions of a percent, expense ratios make a difference – 0.80% of $10,000 is $80 and 0.04% is just $4, so ETFs with an expense ratio below 0.20% were favored.
Fund reputation. You’ll see a lot of repeated names on this list because funds like Schwab, BlackRock (iShares), and especially Vanguard have a proven track record of building well-crafted, reliable ETFs with low expense ratios. Fund reputation matters in the long run because big funds attract big money, which helps to generate higher returns for you!
Solid fundamentals.ETFs aren’t just random grab bags of stock and securities – each one is a carefully curated list, with selection criteria driven by both AI and human logic. There are some wacky and unique ETFs out there – such as Millennial ETFs and Space ETFs – and I’ll cover more of them in an upcoming piece. But this list isn’t for the experimental, exciting stuff – it’s for safe, dare I say boring, places to stash and multiply your savings.
Conscious investing.Finally, this was more of a small thing in the back of my mind, but I wanted each ETF on this list to score average or above average for “conscious capitalism.” No fossil fuels, no sin stocks (learn more about sin stocks here) – and not just because it’s not the way of the future, but because investments in conscious capitalism generally outperform “sinful” investments in the long term.
Commission-free ETFs solve a big problem for young investors
Commission-free ETFs aren’t just great because they’re cheap – they actually solve a pretty serious problem plaguing young ETF investors.
You see, ETFs have heftier commissions and trade fees than stocks because ETFs can be resource-intensive to create. Let’s say you’re a fund manager and you have an idea for an ETF. The process to get your ETF approved by the SEC isn’t unlike getting your new drug approved by the FDA; you have to research a ton, understand the risks, and propose your ETF to the government.
Once your ETF is approved and available, you probably want some additional compensation for your work beyond just capital gains from your ETF.
You don’t want to charge a high percentage trade fee, because big-ticket investors will be turned off. So, instead, you charge a $10 to $20 fee per trade of your ETF.
Big-ticket investors who drop $50,000 on a trade couldn’t care less about a $20 fee, since that represents just 0.04% of their investment. But if you’re a young investor, investing maybe $50 to $100 out of each monthly paycheck, a $20 per-trade fee is way too high – basically pricing us out of ETF investing. 🙁
Thankfully, many brokerages have realized that their per-trade fees are too high for young investors and have eliminated commissions on trades of certain ETFs. At first, funds like Vanguard and Fidelity only let you trade commission-free on their own platforms, but now, they’ve expanded their commission-free goodness to wide platforms like J. P. Morgan Self-Directed Investing.
And it’s not just the junk ETFs that get traded commission-free – in fact, it’s often quite the opposite. Firms like Vanguard and Fidelity will let you trade their most successful ETFs for free – presumably because they don’t really need the commission.
Disclosure – INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE
Summary
If you’re looking for an investment vehicle falling somewhere between your boring retirement account and your exciting individual stock purchases, ETFs are an excellent choice. And now that the big funds are waiving commissions on their top-performing ETFs, there’s never been a better time to dive into the world of ETFs and inject some low- to mid-risk into your portfolio.
ETFs are also an excellent investment if you’re looking to multiply your money and cash out within 2 to 10 years. You can even leave your ETF investment until retirement, if you want, so it has plenty of time to multiply under compound interest.
Not all ETFs are made the same, however – and the SEC has approved some stinkers over the years, for sure. These ETFs, on the other hand, are universally considered top-ranked and well-supported within the investor community – and are a superb place to start.
UMortgage, a growing nationwide mortgage platform, announced last week the addition of MC Mortgage Group to its network. MC Mortgage Group, a mortgage brokerage based in Wilmington, North Carolina, serves homebuyers across North and South Carolina.
Patrick Stoy, president of MC Mortgage Group, established the brokerage in 2005 and brings with him 24 years of experience in the housing industry. Stoy’s expertise has been recognized as he was named a UWM Top 1% Broker and a Top-100 Purchase LO with UWM in 2022.
He was also honored locally as the Mortgage Professional of the Year by the North Carolina Home Builders Association in 2021.
“Being that I’ve been a true independent mortgage broker since 2005, this platform will allow me the opportunity to focus on my relationships with my realtor partners, my LOs, and my borrowers,” Stoy said. “Not having to worry about the stress of day-to-day operations will allow me to create more life-changing opportunities through homeownership and help families build generational wealth.”
With the addition of MC Mortgage Group, UMortgage will gain a team of 10 loan originators who will continue to provide exceptional homebuying experiences to buyers across North and South Carolina. The company’s dedication to excellence has been recognized with accolades such as the MPA Top Employer and Lender and the Wilmington Cape Fear Home Builder’s Association‘s Lender of the Year in 2021.
“We’re delighted to welcome the MC Mortgage Group to the UMortgage platform,” said Anthony Casa, president & CEO of UMortgage. “Patrick has built an incredible brokerage that aligns directly with our vision to create life-changing opportunities through homeownership. I’m incredibly excited to see what they’re able to achieve with the tools and resources available at UMortgage!”
UMortgage loan originators have experienced significant success in the first half of 2023. Despite a slower housing market, the platform achieved record-breaking months for funded loans in February, March, and April, according to the company. The company is also on track to produce record-breaking figures once again for the month of May.
UMortgage is a nationwide mortgage platform developed to provide loan originators with the advantages of a wholesale brokerage, including low rates and robust product optionality, combined with the day-to-day operational support typically exclusive to retail lenders.
This content was generated using AI, and was edited and fact-checked by HousingWire’s editors.
Everyone wants to be the next big thing in the mortgage industry, promising a digital experience or even a funded loan in days as opposed to weeks.
We’ve seen signs of this disruption for years now, and while it has improved the customer experience somewhat and shortened turn times, things aren’t much different.
You still have to fill out a loan application, often with the assistance of a human, submit financial documents, and wait for weeks (or over a month) to get your loan funded.
The difference now is you can do some of these tasks remotely, or better yet, authorize your financial accounts to be plugged into the application so you don’t need to track down documents yourself.
But there’s still the usual frustration and timelines that have long plagued the mortgage industry.
While most disruptors have focused on speed and convenience, an emerging company called “LoanSnap” is focused on originating “smart loans” as opposed to “dumb loans” that cost consumers billions annually.
What Is LoanSnap?
A direct mortgage lender and tech company based in Costa Mesa, CA
It was formed after acquiring Irvine, CA-based DLJ Financial
Currently licensed to do business in 19 states including AZ, CA, CO, FL, IL, and TN
Relies on artificial intelligence (AI) to offer a so-called smart home loan to consumers
LoanSnap was formed after acquiring DLJ Financial, a mortgage lender that had been based in Irvine, California for some 21 years.
The company’s current location is in nearby Costa Mesa, CA, with corporate headquarters in tech-rich San Francisco.
It makes sense that they have locations in both cities, as the Bay Area is where startups are born and Orange County has long been mortgage-central.
They offer a so-called “smart loan” that factors in all your monthly bills, such as credit cards and student loans, to ensure you get the best home loan.
In LoanSnap’s own words, it’s a mortgage that relies upon artificial intelligence (AI) “to analyze a consumer’s financial situation instantly and recommend the best options for their unique needs — all while addressing common financial issues like too much debt.”
Put another way, it goes beyond just the lowest mortgage rate or the fastest turn times and considers a customer’s entire financial situation.
After all, the borrower’s home and accompanying mortgage can often serve as their nest egg, dictating other investments and financial decisions.
It can also be leveraged to pay off other high-interest debt, which is where LoanSnap figures in.
At the start of the loan application on their website, they say, “Welcome! Let’s start by identifying where you’re losing money so we can help you own your financial future.”
What they mean by that is you’re probably paying more interest on your credit cards, student loans, and car loans than you are/would be with a low-rate mortgage.
After all, mortgage rates are close to 3%, while credit cards are often 20%+ and auto loans and student loans are maybe 5%+.
They add that most folks “don’t realize they can move their credit cards or loans to their mortgage and save thousands in interest payments.”
So instead of pitching the lowest interest rates, they give you a full view of all your accounts to help their customers avoid losing money.
What Types of Mortgages Does LoanSnap Offer?
Home purchase loans, mortgage refinances, and HELOCs
The cash out refinance appears to be their chief offering
You can get a conventional loan, non-conforming loan, FHA loan, or a VA loan
Available on single-family homes and condos/townhomes
At the moment, they offer home purchase loans, mortgage refinances, and HELOCs.
That includes both rate and term refinances and cash out refinances, the latter of which is utilized to pay off other high-interest bills you may have.
The cash out refinance seems to be their weapon of choice to eliminate other debt, and explains the how and why of analyzing a consumer’s complete financial situation.
Once they know about your other debts, they can instantly recommend the best loan options that consider interest rates on all your outstanding debt, thereby saving you money.
In a sense, it’s marketing the cash out refinance as something unique to the company, while just about every mortgage lenders offers them.
Of course, things are a little less liquid in that department at the moment due to COVID-19, but that will likely change over time as the situation normalize.
It also means larger loan amounts for LoanSnap, which equates to more money for them.
In terms of loan type, they offer FHA loans, VA loans, and non-conforming loans. I assume they offer conforming loans backed by Fannie Mae and Freddie Mac as well.
They also offer second mortgages in the form of a home equity line of credit (HELOC), which can be used to pay off other bills like student loans, auto loans, and credit cards.
You can get a home loan on a single-family residence or a condo/townhouse. It’s unclear if they lend on second homes and investment properties.
In terms of where they’re available, they lend in 19 states with plans to expand to more soon.
At the moment, they’re licensed in Arizona, California, Colorado, Florida, Georgia, Illinois, Iowa, Kansas, Michigan, Nebraska, Ohio, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Washington, and Wisconsin.
LoanSnap Mortgage Rates
While LoanSnap says it looks beyond mortgage rates to help its customers save money, essentially by saving them on other, higher-cost loans, it doesn’t reveal its rates.
Obviously it’d be nice to get an idea of where they stand pricing-wise, but there’s no daily rate section on their website as of now.
So if you want to pricing, you’ll need to either apply or give them a call. My recommendation is to get pricing first before spending time on an application.
Note that cash out refinance rates are often higher than purchase rates, so if you’re comparing rates among lenders, be sure it’s apples-to-apples.
Also take a look at their customer reviews to see what other customers thought about their interest rates and fees for more clues.
With regard to lender fees, they also leave us in the dark, so be sure to inquire about fees and rates when you call and speak with a loan officer.
LoanSnap Reviews
Despite being a relatively young company, they’ve already amassed a decent number of customer reviews.
On LendingTree, they’ve got a 4.6-star rating out of 5 from nearly 300 reviews, with a 92% recommended score.
At Trustpilot, they have a 3.8-star rating, which the site considers “great,” but not quite excellent.
Over at Google, it’s a similar 4.1-star rating, which is certainly good but not the highest customer satisfaction tier.
On Zillow, they have just a dozen or so reviews and a 4.27-star rating.
While they’ve been accredited with the Better Business Bureau since 2009, they aren’t currently rated.
LoanSnap Received an Investment from The Chainsmokers
Company has raised millions of dollars via several funding rounds
Latest investment comes from fund backed by pop group The Chainsmokers
Also supported by True Ventures, group behind Peloton and Fitbit
Expect them to become a household name in the mortgage world with that backing
In a bid to perhaps become the coolest mortgage lender out there, aside from maybe Rocket Mortgage, they announced a new investment round that included pop duo The Chainsmokers.
The popular group that makes electronic music is apparently also interested in making money, as evidenced by their early stage technology investment firm known as MANTIS.
In mid-May, LoanSnap raised an additional $10 million, co-led by True Ventures and MANTIS.
To show just how serious they are, True Ventures is the Silicon Valley-based venture capital firm behind Peloton, Blue Bottle coffee, and Fitbit.
Their backers also include Richard Branson and Joe Montana’s Liquid 2 Ventures, so it appears they came to play.
Expect to hear the name LoanSnap if and when searching for a mortgage in the near future.
“I see AI as another innovative tool that will inevitably replace some jobs,” he told MPA. “For loan officers and mortgage leaders, it’s a tool that can help you scale or improve different parts of your business.” He extended the tool analogy: “However, like any tool, it’s only as good as the person using the … [Read more…]
Polly, a leading provider of innovative mortgage capital markets technology, recently announced the appointment of industry veteran Cheryl Messner as chief customer officer (CCO).
Messner, who has extensive experience and expertise in mortgage fintech, joins Polly as the company experiences significant growth and adoption in the industry.
“Polly has revolutionized traditional pricing and loan delivery, while simultaneously establishing an unmatched reputation with their customer partners. I am inspired by the team’s accomplishments thus far, and I am excited to contribute to an organization that truly listens to the voice of the mortgage lender and is committed to exceeding their expectations,” Messner said.
In her new role as CCO, Messner will spearhead corporate strategies aimed at enhancing Polly’s unique customer partner experience. Her responsibilities will include overseeing onboarding and implementation processes, as well as driving cross-functional initiatives to ensure ongoing value and success for customers throughout their lifecycle.
Additionally, Messner will act as a liaison between clients, product development, and technical teams to provide valuable customer insights for the development of impactful features and new functionality.
“In addition to a unique blend of interpersonal and technical expertise, Cheryl possesses innate industry acumen that positions her as an incredible advocate for our customer partners,” Adam Carmel, founder and CEO of Polly, said. “I have full confidence that her vision and strategy will further evolve our customer-first culture and elevate Polly to new heights, always keeping our customers at the forefront of our focus. I am delighted to welcome Cheryl to our team and eagerly anticipate the remarkable achievements we will accomplish together.”
With over two decades of mortgage fintech experience, Messner brings a wealth of knowledge to her new position. During her 15-year tenure at Optimal Blue, Messner played a pivotal role as the director of product management, leading the design, development, and roadmap strategy for the Optimal Blue PPE.
Prior to that, Messner held senior and executive-level roles in client services. Most recently, she served as EVP of customer success and experience at Sales Boomerang and Mortgage Coach, focusing on operations, growth opportunities, and client engagement.
Messner’s appointment follows the recent hiring of Parvesh Sahi, former SVP of business and client development at ICE Mortgage Technology, as chief revenue officer at Polly. With the company’s mounting success and adoption across the industry, Polly continues to attract top talent and solidify its position as a pioneering force in mortgage technology.
Founded in 2019 by a team of experienced technology and mortgage professionals, Polly is a San Francisco-based provider of mortgage capital markets technology for banks, credit unions, and mortgage lenders nationwide.
This content was generated using AI, and was edited and fact-checked by HousingWire’s editors.
Can you invest in ChatGPT? There are two answers to that question. First, no you cannot. OpenAI, the company behind the software called ChatGPT, is not publicly traded. Second, that doesn’t mean you cannot invest in AI at all. You can get into this industry by investing in companies like Microsoft, Google and other firms that are tied to developing the new generation of AI technology. Here’s what you need to know.
Consider working with a financial advisor as you explore which asset classes to invest in.
Why Invest In AI?
Depending on who you are, AI is about to change everything all at once or nothing at all. Since the release of art-bot AIs like DALL-E and chatbot AIs like ChatGPT, some observers have rushed to dub this the dawn of a new age. Occasional enthusiasts have literally compared the invention of AI to the industrial revolution or even the invention of agriculture itself.
On the other end of the spectrum, skeptics have dismissed the current generation of artificial intelligence as little more than a digital party trick. These writers have rushed to point out every mistake made by the nascent, still-in-beta products as proof that the underlying technology is irredeemably flawed.
Where this will all land is hard to say. Normalcy bias is a powerful thing, so the “nothing to see here camp” might be based on little more than the assumption that since a digital mind didn’t exist yesterday, it cannot exist tomorrow. On the other hand, right now ChatGPT could be a difference of degree masquerading as a difference of kind. It does the same thing that computers have always done best, finding patterns in existing data, just on a massively expanded scale.
What seems most likely, as the consulting firm McKinsey writes, is a “fourth industrial revolution,” in which advanced software gains the ability to automate non-routine tasks. This would be a massive leap forward in technology, akin to when computers gained the ability to automate repetitive and routine functions, and is certainly worth paying attention to on both a social and a financial level.
How Can You Invest In ChatGPT?
As a threshold level, you cannot invest in ChatGPT. ChatGPT is the big name in AI at time of writing, although the field is moving so quickly that may no longer be the case by the time you read this. It is a software package produced and owned by OpenAI, which is a private company based in San Francisco.
If you are an accredited investor, it’s theoretically possible that you could buy an ownership stake in OpenAI by purchasing privately held shares. But their investor list includes some of Silicon Valley’s most influential billionaires, so it might take an eight-figure check to even get someone returning your calls. If that is your profile, though, you are most likely better off investing through one of the venture capital firms that own a stake in OpenAI, including Sequoia Capital or Andreessen Horowitz.
For retail investors, generally the closest you can get to investing in ChatGPT is by purchasing shares of Microsoft (MSFT) stock. The company has invested more than $10 billion into the company, giving it a significant ownership and profit stake and access to OpenAI’s software as the basis of a next-generation version of the search engine Bing.
Beyond that, you can invest in companies that have a relationship with OpenAI’s product and success.
On the back end, this can mean investing in vendors who provide the hardware and software solutions that ChatGPT relies on. The most noteworthy company there would be NVIDIA (NVDA), which produces the advanced chipsets used for artificial intelligence machines. The share price has been rocketing skyward since Oct. 10, 2022, when the stock traded at $112.27 to June 1, 2023, when it was trading at approximately $400.
On the front end, you can invest in companies that intend to use ChatGPT in their own products. Several firms have announced strategic partnerships with OpenAI to begin integrating the artificial intelligence into their own lines, such as Salesforce (CRM) and Snap (SNAP). One report by Forbes even suggests that Coca-Cola (KO) may integrate OpenAI into its business model.
It’s not the same as investing directly in OpenAI itself, but it still will give your portfolio exposure to ChatGPT as a product.
How Can You Invest In AI?
Beyond investing in OpenAI, you can also look to invest in AI as a field overall. Over the past year, artificial intelligence has become a sort of four-minute mile. Nobody could build a system remotely like DALL-E or ChatGPT just a few years ago. Now, new breakthroughs emerge every few weeks from any number of places. So a good way to invest might be by looking for those other companies.
The most prominent AI companies right now are probably firms like Alphabet (GOOG), Tesla (TSLA) and Amazon (AMZN). All three are either heavily invested in their own artificial intelligence software or are helping to develop third-party programs. This is generally the closest thing you can get to investing in OpenAI, since in all three cases you will be investing in a firm developing AI software.
Beyond that, as with ChatGPT partnerships, you can begin looking for companies that will thrive on artificial intelligence. With this approach, your goal is to try to identify firms that can take advantage of the opportunities that AI offers. What sectors and companies will use this tool? Who will become more profitable in the long run because of it?
One way to answer this is by investing in the technology sector in general. You can buy stock in exchange-traded funds (ETF) or mutual funds that are indexed to the tech sector, or funds which are indexed to the NASDAQ market. You can also try to identify firms and sectors that will do well with artificial intelligence technology, such as companies that do automated customer service, large data-management firms and logistics companies. All of these are sectors that need to handle large volumes of data with complex, non-routine outputs, which is exactly what AI is likely to specialize in.
Bottom Line
You cannot invest directly in OpenAI, the company behind ChatGPT, but that doesn’t mean you can’t invest in artificial intelligence. By seeking out companies and sectors most likely to profit off of data-driven, non-routine transactions, you can find companies that will likely thrive on this technology.
Technology Investment Tips
We’ve just scratched the surface of investing in artificial intelligence. In fact, if this technology has the potential that its enthusiasts claim, pretty soon it will be as ubiquitous as investing in electricity or Wi-Fi.
A financial advisor can help you sort through your options when it comes to investing in artificial intelligence and other technologies. If you don’t have a financial advisor yet, finding one doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Eric Reed
Eric Reed is a freelance journalist who specializes in economics, policy and global issues, with substantial coverage of finance and personal finance. He has contributed to outlets including The Street, CNBC, Glassdoor and Consumer Reports. Eric’s work focuses on the human impact of abstract issues, emphasizing analytical journalism that helps readers more fully understand their world and their money. He has reported from more than a dozen countries, with datelines that include Sao Paolo, Brazil; Phnom Penh, Cambodia; and Athens, Greece. A former attorney, before becoming a journalist Eric worked in securities litigation and white collar criminal defense with a pro bono specialty in human trafficking issues. He graduated from the University of Michigan Law School and can be found any given Saturday in the fall cheering on his Wolverines.