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Whether you are a resident who already owns a home in Myrtle Beach and looking to explore your hometown on the cheap, or perhaps you’re getting ready to call this city your new home by searching on Redfin for an Apartment in Myrtle Beach, this city has you covered. This coastal gem is known for its sandy shores, vibrant culture, and a plethora of activities that won’t cost you a dime. In this article, we unveil nine fantastic free things to do in Myrtle Beach that will leave your wallet happily untouched.

1. Beachfront bliss

Myrtle Beach is renowned for its pristine coastline, and the best part is that the beach is entirely free. Spend your day lounging in the sun, building sandcastles, or taking refreshing dips in the Atlantic Ocean. It’s a fantastic spot for both relaxation and people-watching. Grab your sunscreen, a good book, and a beach towel, and you’re set for a delightful day at the shore.

2. Myrtle Beach Boardwalk and Promenade

A leisurely stroll along the Myrtle Beach Boardwalk and Promenade is a must for any local, newcomer, or visitor. Stretching 1.2 miles along the beachfront, this iconic boardwalk offers stunning ocean views, live entertainment, and numerous shops and eateries. Take in the sights and sounds of the bustling boardwalk, and don’t forget your camera to capture the vibrant atmosphere.

3. Brookgreen Gardens

Escape to the lush beauty of Brookgreen Gardens, a sculpture garden and wildlife preserve that is just south of Myrtle Beach. While there is an admission fee for the main gardens, the adjacent Lowcountry Trail and Creek Excursion are free to explore. Marvel at the intricate sculptures, admire the botanical gardens, and keep an eye out for native wildlife as you wander through this beautiful area. 

4. Conway Riverwalk

A short drive from Myrtle Beach will lead you to the charming town of Conway, home to the Conway Riverwalk. This scenic boardwalk along the Waccamaw River offers a peaceful retreat from the bustling beach scene. Enjoy a leisurely walk, spot wildlife, and take in the picturesque views of the river and historic buildings. 

5. Myrtle Beach State Park

Nature and beach enthusiasts will find solace in Myrtle Beach State Park. Once you enter the park, you can enjoy miles of nature trails, a pristine beach, and a fishing pier without any additional cost. Pack a picnic and immerse yourself in the beauty of the coastal ecosystem while keeping an eye out for local wildlife.

6. Broadway at the Beach

Experience the lively atmosphere of Broadway at the Beach, a bustling entertainment complex filled with shops, restaurants, and attractions. While some activities here come with a price tag, exploring the area, watching street performances, and enjoying the beautiful Lake Broadway are completely free. It’s an excellent place for an evening stroll and some people-watching.

7. Warbird Park

Aviation enthusiasts and history buffs will appreciate a visit to Warbird Park, located near Myrtle Beach International Airport. This outdoor park displays retired military aircraft, including fighter jets and helicopters. Take a walk through history as you admire these impressive machines and read about their contributions to aviation.

8. Myrtle Beach farmers’ markets

Immerse yourself in the local culture by visiting Myrtle Beach’s farmers’ markets. Sample fresh produce, artisanal products, and interact with friendly local vendors. The Myrtle’s Market in the heart of downtown Myrtle Beach and the Surfside Beach Farmers Market are popular options that offer a taste of the area’s vibrant community spirit.

Myrtle Beach offers a plethora of free activities that allow you to soak up the sun, explore nature, and immerse yourself in the local culture without draining your wallet. Whether you’re a local or a visitor, these budget-friendly options ensure you can make the most of your time in this coastal paradise. So, grab your sunscreen, sense of adventure, and explore Myrtle Beach’s no-cost treasures today.

Source: redfin.com

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Ever dreamed of buying an investment property for short-term vacation rentals? Whether you’re setting up shop in Columbia, SC, or in a Rochester, NY, apartment, we found experts to share their stories and offer valuable lessons they’ve learned along the way to help newcomers troubleshoot short term rental problems with practical solutions. Read on to learn how to turn your property into a five-star rental.

1. Expanding your network in the STR landscape

“I have been a realtor since 2009, primarily specializing in selling investment properties used as short-term rentals,” shares Danny Margagliano from Destin Property Expert. “Recently, my wife and I purchased our first condo, which we are self-managing as a short-term rental property. One of the most significant challenges we encountered at the outset was selecting a Property Management Software (PMS). With numerous companies available online, the decision can be overwhelming. A valuable piece of advice I can offer is to join larger Facebook groups dedicated to short-term rental properties, Airbnb, or VRBO. These groups provide access to experienced hosts who are more than willing to offer assistance.”

2. Navigating a competitive market with trifecta-like customer service

“Having worked for a decade in a fiercely competitive vacation rental market like San Diego – first as a property manager and now as a business owner – I’ve pinpointed three pivotal aspects that spell success for your enterprise,” shares Jeff Nisuis, owner of Titan Beach Rentals

  • “Firstly, customer service must reign supreme for both your guests and owners. We prioritize responding to guest messages and calls within an hour, while also ensuring monthly reviews or updates for owners. 
  • Secondly, a well-rounded tech stack is indispensable for achieving this feat. This begins with implementing a property management system such as Guesty to streamline and automate your company’s workflow and communication. 
  • Lastly, the cornerstone of it all is accurate pricing. Employing a dynamic pricing tool to automate nightly rates and monitor market trends and demands not only saves time but also enhances pricing precision, revenue, and occupancy rates.”

Courtesy of Titan Beach Rentals

3. Offering virtual guides and demonstration videos 

“Every home in our program is unique, and it’s impossible to keep track of every quirk in each home without a system. One of our secrets to successfully addressing guest questions is dedicating time to create a virtual guide for each property,” recommends Hilton Head Rentals. “Most guest queries can be resolved using our virtual guide. Even if guests don’t use the guide, we rely on it to swiftly and accurately respond to their questions. 

We also produce a series of ‘quick and dirty’ videos demonstrating how to operate certain unique features in the homes, such as turning on the oven hood, adjusting the thermostat, or activating spa jets. It’s somewhat amusing to revisit our own videos months later to remind ourselves how things work in specific houses. This approach reduces the need for dispatching personnel, saving us money, and enables us to promptly enhance the guest experience by promptly addressing their inquiries.”

Courtesy of Hilton Head Rentals

4. Turning a million-dollar setback into success with rapid recovery and communication

“’I’m not going to lie, we are really freaking out over here’, the owner confessed to me two weeks after I signed her property – my first valued over one-million dollars. Unbeknownst to all of us, their previous management company canceled all bookings in June and July upon switching, resulting in the loss of nearly 30-thousand dollars in expected revenue,” shares Joel Harris from Port Aransas Airbnb Vacation Rental Property Management by Grand Welcome.

“The lessons I learned along the way are one, when confronting challenges, formulate a plan using the tools at your disposal and relentlessly execute it. Within 24 hours, our ads were up and running. I maintained constant communication with the owners, updating them about our progress, actions, and results two to three times daily. As our ads gained momentum, I shared our analytics daily and later on a weekly basis. After three days, we secured our first booking. Another followed just two days after. Gradually, the pressure eased as reservations steadily flowed in.

Second, maintain frequent and transparent communication, substantiated with real data and examples. In the absence of information, our minds concoct stories. To counter this, we provided our owners with detailed and factual information about the issue at hand. We outlined the steps we were taking to resolve it, employing regular and effective communication. And behold, despite starting from scratch this summer, the property that had us ‘freaking out’ became one of our top earners.”

5. Crafting unique spaces and thoughtfully designed rooms

“At Urban Sands we strive to curate a unique experience at each one of the properties we manage. We spend a lot of time with our interior designer, Theresa Danna at Designed to a T. Together we are able to create inviting spaces that help maximize booking revenues for our clients. Finding the most reliable vendors, cleaners, and admin in our area has really helped us overcome any challenges that are thrown at us,” suggests Chloe and Bryce Mayer, Owners of Urban Sands Vacation Rentals.

Courtesy of Urban Sands Vacation Rentals

6. Embracing technology for extra booking and revenue growth

“As a vacation rental property manager, the biggest challenges I experienced were two-fold – homeowners and guests. The most common issues several of my homeowners had in the past were related to bookings and revenue generation,” shares Kristian Lewis from New Braunfels Airbnb Rental Property Management by Grand Welcome.

“At Grand Welcome we ensure our properties are being highlighted and getting exposure on over 40 national and international travel websites to provide homeowners with consistent marketing growth. Additionally, we use dynamic pricing algorithms to establish optimal pricing based on seasonality, demand, and market trends within our region. For guests, we want to provide high-level boutique service during every phase of their visit from booking to check-out, so we have dedicated guest service teams who are available 24/7 to assist with any questions, issues, and concerns almost immediately. 

Each of our properties is equipped with an in-home concierge tablet that includes a welcome guide with detailed self-check-in instructions, local recommendations, and contact information for our local team. The implementation of comprehensive software, at all levels, not only improved guest and owner satisfaction but also increased efficiency, revenue, and retention. Embracing technology while creating personalized touch points has been pivotal in elevating our brand and the overall experiences of owners and guests who utilize our vacation rental management services.”

7. Focusing on local expertise in vacation rental management

“As a vacation rental property manager, we are constantly working to improve the entire experience of the guests we host, as well as the owners that we partner with. As we look to stay ahead of the ever-evolving industry, we are focused on differentiation by being experts in our market,” suggests Compass Vacation Properties. 

“We focus on local recommendations, things to do, behind-the-scenes activities and hidden treasures in our communities. This solution not only improves guest satisfaction but also drives interest in, and business to many of our fellow local small business owners. Embracing the impact of the community has been instrumental in enhancing our guests’ experiences and improving our vacation rental management operation.”

8. Automating and integrating processes for success

“At Landlord Studio, we believe that embracing technology isn’t just about convenience – it’s about transforming the way you think about your rentals,” suggests Charles Chan, CEO of Landlord Studio. “Integrating solutions into your property management not only creates new efficiencies but is also a key step in developing your portfolio into a scalable and profitable business. Therefore, whether you have one or a hundred units, it’s essential that you possess the right tools – tools designed for you – to help you stay on top of everything from income and expense tracking to managing cleaning and maintenance.” 

9. Maximizing value in challenging times with consistent occupancy 

“During challenging times, it’s often the core and simplest strategies that produce the most consistent value and return to homeowners. While a small percentage of all homes can hold the same rates year-over-year, or even increase them, that’s not the case for a majority of homes,” says Portoro.

“Every home in the short-term rental market is its own product line with 365 opportunities to generate a sale. That means that occupancy is the primary driver of revenue, and not nightly rates. Smart property management means having the operational infrastructure to successfully produce a full calendar even at lower daily rates.

This helps the property manager and homeowner achieve the following:

  • Total revenue generated close to or at year-over-year expectations 
  • Ability to maintain the property as an STR under portfolio (avoid long term rental (LTR) discussion)
  • Steady stream of income to maintain operations, housekeeping, and vendor relations”

10. Streamlining rental management processes through online platforms

“Embracing technology is a critical stride towards achieving success in the vacation rental industry. As technology providers, we are dedicated to helping hosts and vacation rental businesses regain valuable time and boost their bottom line. Often, property operators find themselves consumed by tasks like addressing guest queries, managing calendars, pre-arrival guest communication, and coordinating cleaning services,” says Fred Bassili, Marketing Manager at Hostfully.

“However, the implementation of suitable technology can drastically reduce or even eliminate these laborious duties. The impact is profound – we’ve witnessed business owners trimming over 100 hours of weekly work to just a few hours, or attaining consistent five-star reviews by bolstering efficiency and preventing errors. When seeking technology solutions, it’s essential to define your specific challenges, attend multiple demos, and ask pertinent questions during these sessions. Since vacation rental software is not one-size-fits-all (each has strengths and weaknesses), finding the best fit for your business is paramount”

11. Setting a price strategy

“The short-term rental market has become extremely competitive and saturated with an increase of supply following the pandemic. The increase in vacation rental rental supply has created an environment where nationwide occupancy has decreased year-over-year compared to prior years. As a result many owners and operators have decreased their nightly rates to try to increase their bookings,” says Sean Bakhtiari, Founder of Seacoast Vacation Rentals.

“We have a different strategy. First, we’ve invested in new amenities and design features to make our properties standout from the crowd and create better guest experiences. Secondly, although our portfolio occupancy rate dropped slightly (four percent year-over-year), our overall revenue grew seven percent thanks to “Average Nightly Rates,” increasing by 11 percent. When many owners and operators have been reducing their nightly rates, we’ve increased them and simultaneously reduced our minimum nightly stay requirements. This flexibility has been extremely beneficial for all our properties, in this more competitive environment.”

12. Maximizing revenue and guest satisfaction

Master Vacation Homes focuses on reducing maintenance costs for owners and maximizing rental income. We are one of largest property management companies in Orlando with over 500 properties boasting the highest returns in the industry.

Here’s a few reasons we are able to bring above average returns to our clients:

  • Revenue management: We have a team responsible for pricing the homes that follow a strategic methodology that focuses on high occupancy X high daily rates.
  • Superior home care: Currently we have 16 Property Managers caring for 30-40 homes each. They are responsible for the inspection of each check-in, dealing with all things related to the care of their homes and the investors that own each property.
  • Operations and guest support: Our logistics operations are unmatched by the competition. We have designated field teams for each city area limited by a certain amount of homes so they are not overwhelmed. Our guests have support just minutes away if an emergency occurs.
  • Setting a target market: Over time we learned one of the most important lessons so far. We needed to say no to clients that were not aligned with the way we operated and with our philosophy. Firing clients is counter intuitive, because as a business, you always want as many clients as possible. But in this industry, every owner wants to impose their wishes and demands on how they think their home should be managed. It turns out, it is impossible to manage multiple homes differently. After a few years of experience and seeing what works best, we slowly transitioned to work solely with investors rather than the traditional owner of vacation homes. This solidified our identity as a Management Company and allowed us to focus in the areas we excel. 

Courtesy of Master Vacation Homes 

13. Researching markets before you enter

“We cannot stress enough how important it is to do your research first before you start your vacation rental business,” recommends Mashvisor. “The industry is more competitive than ever, so you need data, and not just observations or hearsay, to help you in making decisions. Many users of our platform end up being surprised to find out that their first choice of location might not be as lucrative as they thought. So they’re glad to have used a real estate analytics website to not just confirm or deny their initial hypothesis but to also help them find another vacation rental market to invest in.”

14. Prioritizing customer service and resolving problems quickly

“While being the owner of MATCH Property Managers, we have experienced many challenges in the vacation rental side of the business, but have worked diligently as a team to overcome the challenges associated with renting vacation properties. Guests sometimes have maintenance issues while on vacation, and we have found that top-notch customer service can easily derail any problematic issues that could create a bad review for your rental company,” suggests MATCH Property Managers

“The key advice for vacation rental managers is to maintain 24/7 availability for guests in case of issues. Utilize answering services for prompt communication. Always respond with appreciation, conveying that guest satisfaction is a top priority. Actively listen to guests, gather necessary details for repairs, and apologize for any inconvenience. Keeping $25.00 gift certificates on hand showcases care for guest experience. Avoid showing inconvenience at guest calls, as respect can be lost. Post-issue resolution, follow up with guests to ensure their comfort. Ultimately, prioritize creating a memorable and enjoyable vacation experience.”

Courtesy of MATCH Property Managers

15. Hiring local property managers for out of state STR owners

“After working in the short-term rental industry for over 13 years now, we have discovered that the most successful vacation rental properties have engaged owners. To help owners who live in another town or state from their rental property take advantage of this, we developed a hybrid property management system,” shares Scott Westfall, Owner of CGP Real Estate.

“This provides responsive on-site management through a local team, while the owner manages their online presence and booking preferences. Giving owners a way to be hands-on while operating long-distance has helped them increase bookings, revenue, and guest satisfaction by providing the personal marketing touch guests are looking for – without sacrificing quick and professional response to on-site management and guest needs.”

16. Adapting to changing market conditions

“As a vacation rental property manager, a common challenge we face in Panama City is trying to compete for occupancy during off-season. Coming out of COVID restrictions in 2021, Panama City Beach finds itself in a very saturated market regarding Vacation Rentals. Occupancy has taken a hit and as new rentals continue entering the market, everyone’s peak season seems to be getting shorter,” says Panama City Beach Airbnb Rental Property Management by Grand Welcome.

“Our approach was to implement a hybrid system of renting short-term during the summer, and mid-term during the late fall and winter. To do this we not only appeal to the Snowbird crowd, but also to the overlooked traveling professional industry. This has helped keep business on the books when otherwise we may have faced vacancies.”

17. Fostering repeat visits

“We established Vacation Rentals of North Myrtle Beach due to local companies lacking urgency and professionalism. With a modest start, we now manage 130+ properties in 13 years. Our focus is on collaborating with property owners, acting as partners to nurture their business,”  Barefoot Resort Vacations suggests. 

“As hands-on owners, we and our dedicated team strive for exceptional guest experiences, aiming for repeat visits. Any issues during stays are promptly communicated, demonstrating our commitment to swift solutions. Challenges arise, but we face them with an open mind and humor. Our motto for owners: everything is fixable, repairable, and paintable – we’re determined to deliver a sense of urgency and professional results.”

Courtesy of Barefoot Resort Vacations

18. Increasing bookings with The Big Three

“After more than $100 million in guest bookings over the course of my career in vacation property management, we’ve discovered a combination of property features which maximize guest interest, boost rental rates, and extend occupancy in nearly every market. Internally known as ‘The Big Three,’ the combination of ‘pets, water, fire’ is the insider secret,” suggests Wes Walker, CEO of Popersum. 

“Pet friendly properties routinely generate 20% (and sometimes more) than non pet properties. A water feature, such as a hot tub or modern pool, natural water view, or even an elaborate fountain also captures online attention and generates higher bookings and rates. Finally, fire as in a photographic fireplace or a fire feature near seating, extends most seasonality and produces higher interest. By combining The Big Three, competing with the traditional ‘location, location, location’ properties is not only possible, but often an outperforming combination.”

19. Forecasting a conducting thorough inspections 

“Effective vacation rental management encompasses more than just maintaining the property. We’ve embraced a forward-thinking approach, consistently conducting inspections to preemptively tackle any looming issues. Coupled with technological tools, such as predictive analytics, we’ve been able to forecast high-demand periods, ensuring optimal occupancy and unwavering quality. This comprehensive strategy has solidified our reputation as a reliable choice in Austin,” recommends STR Management.

20. Nurturing a versatile team

“As is true with any business, your employees are critical to your success. We are a relatively small vacation rental management company so when hiring our reservationists and managers, we look for people who are willing and able to be a jack-of-all-trades and exhibit the flexibility and smarts to jump in on whatever is needed and to expect the unexpected,” recommends Beach-N-Bay Getaways.

21. Adopting a software management platform when you expand

“The primary focus for property managers should be on delivering excellent experiences for guests and homeowners. However, the complexities of managing monthly statements, booking inquiries, and pricing strategies can often divert attention from this vital role. As portfolios grow, pursuing excellence becomes even more challenging, and guest reviews may slip,” shares Gather Vacation Rentals.

“At Gather, we’ve confronted these challenges firsthand. Our solution extends beyond a mere set of tools; it’s a comprehensive partnership designed to streamline various facets of property management. This includes simplifying financial reporting through an integrated accounting system, efficiently handling inquiries, creating optimal pricing strategies backed by real-time data, and enhancing marketing efforts through targeted campaigns. Moreover, we offer risk and portfolio management insights, provide business development resources to fuel growth, and support a robust tech stack that aligns with the evolving needs of the industry.”

Source: redfin.com

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Correspondent Programs; STRATMOR and Customer Service; Credit Products and News; Training and Webinars

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Correspondent Programs; STRATMOR and Customer Service; Credit Products and News; Training and Webinars

By:
Rob Chrisman

Thu, Jul 20 2023, 10:16 AM

Ever see the movie “Cocoon”? Is there an X-rated version? Seven of the 10 fastest-growing metro areas over the past year are in Florida. The Census Bureau tells us there was population growth for about two-thirds of U.S. metro areas during this time, but The Villages, Florida, had the greatest percent increase at 7.5 percent. (Yes, as in the “STD Capital of America” Villages!) The metro area of Myrtle Beach-Conway-North Myrtle Beach, South Carolina-North Carolina came in second and saw population climb by 5.0 percent. The metro area of Dallas experienced the largest numerical population increase, seeing its population climb by 170,396 or by 2.2 percent from July 1, 2021, to July 1, 2022. The metro area of Houma, Louisiana, had the greatest percent decline over this time range, and two other metro areas in Louisiana were among the 10 fastest-shrinking metros. (Today’s podcast can be found here and this week’s is sponsored by Richey May, a recognized leader in providing specialized advisory, audit, tax, technology and other services to the mortgage industry for almost four decades. To experience how Richey May can help you transform your mortgage business, visit richeymay.com. Hear an interview with NAR’s Jessica Lautz on the latest inflation figures and the Fed’s calculus moving forward.)

TPO Channel Products

Now is the time to become an approved Newrez Correspondent partner. A partnership with Newrez Correspondent provides access to an extensive product menu, delegated/non-delegated underwriting, multiple delivery methods, and professional experience needed to ensure success in an ever-changing market. With exciting enhancements such as the recently added Bulk AOT and soon to be released Appraisal Alternatives, there is no better time than now to become a Newrez Partner. Every week new lenders are joining the Newrez family of nearly 1000 approved correspondent clients, and are enjoying the many benefits of partnering with a top Correspondent Investor when efficiency, cost reduction, and profitability are critical. Newrez Correspondent understands the importance of personalized service and strives to exceed our client’s expectations at every turn. Contact us today to schedule a meeting at the Western Secondary Conference August 21st to 23rd for an in-person discussion on how a Newrez Correspondent Partnership can optimize your business.

Planet Home Lending’s Correspondent division is built on an unwavering commitment to Correspondent lending and the belief that strong partnerships are the cornerstone of success. Our continually refined product lineup ensures you have the right products to build volume in any market cycle. Go beyond government and conventional loans and move into profitable niche products, like renovation, manufactured homes, and buydowns. Get in touch with Planet’s SVP Correspondent Sales Jim Loving (414-270-0027) to learn more or click here to download the latest version of our Product Highlights flyer, then put Planet to work for you!

STRATMOR and Customer Service

Lenders have struggled for years trying to build customer-centric cultures. According to data from STRATMOR Group’s MortgageCX program (more than one million borrower surveys and counting), the number one frustration in the pursuit of Customer Experience (CX) excellence is the transition from collecting customer feedback to creating internal behavioral change. In his July Customer Experience Tip, MortgageCX Director Mike Seminari shares four motivational strategies for lenders that can help drive the change needed. For inspiration on motivation, read, “Motivate Your Mortgage Team to CX Excellence.”

Credit Products and News

Attention Mortgage Lenders: Empower Millennial and Gen Z Homebuyers! Download The Ultimate Credit Scoring Playbook, your go-to resource for conquering unique buyer pool challenges with Millennial and Gen Z homebuyers. Gain comprehensive insights, strategies, and expert tips to guide these tech-savvy generations to their dream homes and establish yourself as a trusted advisor by mastering credit score management. Understand market conditions, interest rates, regulations, and preferences that will affect these generations in their homebuying journeys. Shape your success in the mortgage industry and drive unprecedented growth. Don’t miss out on this opportunity to elevate your expertise. Download The Ultimate Credit Scoring Playbook for Millennials and Gen Z eBook for free now! Follow Birchwood Credit Services to gain access to a plethora of industry-related news and informative content that will aid you in closing loans at lightning speed!

Lenders are keenly aware of the 3 Ds of lending: divorce, death, and da money. This is an answer to the 5 Cs of lending, and credit is very important to lenders. Evaluating a borrower’s credit is always important, especially with the ATR (ability to repay) requirements. Anyone who is thinking we’re heading for foreclosures shooting higher had better take a look at the equity that current homeowners have, and the credit quality of the current crop of borrowers.

Huh? Now SoFi will “underwrite” your loan for you?

VantageScore Solutions was launched in 2006 and is owned by America’s three national credit reporting companies (CRCs) – Equifax, Experian, and TransUnion.

Lenders are still talking about Equifax’s shift last year where it eliminated order options in October, resulting in the need for double orders, and then raising prices on Jan 1st for those double orders. So most will say that competition is good, and the Transunion Truework news last month on income and employment verification is being watched to see how it plays out.

I bring all of this up because yesterday Experian® announced consumers can now choose to share information directly from their employers’ payroll service through Experian Verify™ when applying for credit, including mortgages, auto loans and personal loans. “The enhancement introduces Experian’s automated income and employment verification waterfall and helps lenders easily leverage both instant and permissioned technology with consumer consent to verify income and employment for over 85% of the U.S. workforce… A multi-step approach is needed to help reduce dependencies on complex and costly manual verification processes. Lenders who use a multi-step approach can keep consumers engaged while verifying income and employment information faster and more efficiently.”

Training and Events Next Week

Keep a finger on the pulse of borrower demand and incentive with Black Knight’s complimentary Mortgage Monitor webinar, which provides insights into the mortgage market you can’t get anywhere else. Our experts analyze the most current information from Black Knight’s vast mortgage, housing, and property data assets to deliver a clear view of the market. We also include the latest rate lock data, so we’re able to dig deep into origination trends and provide information that can help you market and allocate resources more effectively. Register now.

Do you have questions about CDFIs? Are you wondering how CDFI’s QM exception and FHLB access work? Falcon Capital Advisors is hosting a webinar with its CDFI experts to share an overview of these primarily non-bank entities and how recent changes in CDFI rules could advantage lenders who are seeking to serve minority borrowers, deeper credit FHA borrowers, participate in state HFA programs and lower their own costs of capital for all of those loans. Register for the webinar on 7/27/2023 at 2pm EST using this link. For more information on Falcon’s CDFI advisory services drop an email.

On Thursday, July 27th at 2pm ET Tabrasa’s Bill Bodnar will be hosting a webinar entitled “Reading the Markets – The Back Nine”. With half the year (or round) over, join Bill for a fast-paced presentation on what Mortgage Market Guide is seeing in the back half of 2023 for the economy, Fed, rates, housing and more.

In Hawai’i, join MBAH for an exciting event on July 26th, 8:30 – 10:30am at Dave & Buster’s Honolulu, Pa’ina Hale, 2nd Floor. Bring together the top real estate experts to share best practices for today’s market.

PRMG’s non-QM Investor Solution product which provides an option for Debt Service Coverage Ratio (DSCR) and No Ratio qualifying on investment properties, Wednesday, July 26.

Angel Oak Mortgage Solutions Part 2 of 2, A Non-QM Webinar on Bank Statement Loans, is all about Angel Oak Mortgage Solutions innovative Bank Statement Program aimed specifically for self-employed borrowers. This webinar on Wednesday, July 26th, 1:00 PM EST | 10:00 AM PST, will take a deep dive into program details, highlight how they determine income and discuss how to market to these borrowers.

Addressing Appraisal Bias and Explore potential solutions to mitigate appraisal bias. California MBA’s Mortgage Quality and Compliance Committee new webinar on July 27th at 11 AM PST. Join and discuss appraisal bias and investigate potential solutions to combat it.

There are many unique characteristics and benefits of the reverse mortgage program that are often misunderstood by potential senior prospects. Join Plaza Home Mortgage® for a free webinar, Thursday, July 27 | 11:00 AM PT / 2:00 PM ET, designed to help you “organize” loan benefits, risks, and loan figures in a way that will help borrowers better understand how a reverse mortgage loan works, and what it means for the future equity and ownership of the borrower’s home.

The 2023 CMLA Convention is back in Vail on August 2-4 at The Hythe. Register today and join us for compelling speaker sessions, ample networking opportunities, and the annual golf tournament. Please find this year’s agenda below – it has been reimagined to provide increased value for our attendees and sponsors, as well as a better event flow. Come and celebrate CMLA and the mortgage industry’s resilience.

FAMP! Florida Association of Mortgage Professionals 2023 Annual Convention & Trade show, “A Grand Affair”, is August 2-5, 2023, at Signia by Hilton Orlando Bonnet Creek. For Over 60 years, this is the annual event that attracts Florida’s top mortgage professionals, and this year is no different. Exhibitors from all over the country will be exhibiting current mortgage products and industry tools for all originators. Do not miss this opportunity to network with mortgage brokers and lenders from across Florida and the United States.

MBA Education is bringing the best-in-class training to Seattle, WA., August 8-11. Begin advancing your career by enrolling in the School of Mortgage Banking I: An Introduction to the Real Estate Finance Industry provides a foundation in residential loan production, underwriting, secondary marketing, regulatory compliance, warehousing and servicing.

In Michigan, the MMLA Annual Lending Conference is 8/9-8/11 is in Mt. Pleasant. “Our event brings attendees from all of the state and country to hear our nationally renowned speakers give expert advice on how you can grow your business even in these challenging times!

“What do David Stevens, CMB, Mitch Kider, and Rob Chrisman all have in common? They’ll be at NAMMBA CONNECT 23, September 14 – 16 at the JW Marriott Bonnet Creek in Orlando, FL as the opening session. NAMMBA CONNECT 23 is the largest conference in the mortgage and real estate industry focused on connecting lenders to the multicultural marketplace. This year has been a tough year for our industry. That’s why we are providing 100 complimentary conference registrations in addition to the first night’s room stay for any Sales, Operations, Marketing or HR Executive who would like to attend the conference. This is our way of giving back to the industry. This offer is on a first come, first serve basis. To reserve your space click here. To see the agenda click here.

Capital Markets

Of course, anyone can sue anyone, right? But capital markets folks took note of this article on how Go Mortgage is suing its former capital markets director for corporate sabotage!

But back to rates! With signs that central banks around the globe are making progress in their fight against inflation, global bond yields have fallen as of late, and Treasury yields across the curve rallied once again yesterday on the heels of the UK CPI cooling more than expected. That move was also aided by the release of a below-consensus Housing Starts report for June that fell 8 percent on both a month-over-month and year-over-year basis (actual 1.434 million, expected 1.475 million, prior 1.559 million). Building Permits were not much better (actual 1.440 million, expected 1.472 million, prior 1.496 million). The drop was broad-based, with both single-family and multi-family production pulling back during the month. This month’s numbers showed a striking shift away from multi-family towards single-family.

The lack of housing inventory continues to help the homebuilder community despite higher mortgage rates. Signs continue to point to a clearing of previous backlogs caused by material and labor shortages, and demand remains sufficient given the ongoing lack of existing homes available for sale. Accordingly, builders are cutting back on sales incentives with just 22 percent reporting that they cut pricing in July, down from 25 percent in June and 27 percent in May. The number of multi-family units under construction is at record levels, while single family units under construction are in the middle of its historical range.

Today’s economic calendar is under way with weekly jobless claims (228k, lower than expected; 1.754 million continuing claims) and Philadelphia Fed manufacturing (-13.5, little changed from last month’s -13.7). Later: leading indicators and existing home sales, both for June, and month-end supply consisting of 2-, 5- and 7-year notes and $24 billion 2-year FRNs, a Treasury auction of $17 billion 10-year TIPS, and Freddie Mac’s Primary Mortgage Markets Survey. We begin the day with Agency MBS prices worse .125-.250, the 10-year yielding 3.79 after closing yesterday at 3.74 percent, and the 2-year is 4.84: the 2-10 yield curve inversion is as steep as ever.

Employment and Transitions

“Foundation Mortgage Corporation, a Full-service wholesale Lender based in Miami Beach, FL, is one of the fastest growing NonQM Lenders in the industry. Foundation is currently accepting applications for experienced, NonQM Account Executives to join our team. (AZ, CA, TX, CO, WA, FL). We are also proud to announce the addition of Ann DiCola, Senior Account Executive. Ann is an industry veteran joining Foundation after 12 years with Axos Bank. Reach out to Dean Ayres, Senior Vice President- Sales to learn more about how Foundation Mortgage can help you build your NonQM business.”

Are you interested in changing our industry for the better? Do you have what it takes to join the top-rated client service team in mortgage technology? Apply to become MCT’s Senior Capital Markets Technology Advisor. While many technology providers are cutting staff and reducing service levels, MCT is continuing to invest in making sure clients succeed. Led by Paul Yarbrough since its formation in 2019, MCT’s Client Success Group (CSG) has revolutionized the client experience by providing fast and effective onboarding, intimate support levels, and deep subject-matter expertise. Through a combination of firsthand capital markets experience, active listening to client feedback, and direct engagement in the technology development process, the CSG is finding new efficiencies and improving execution for mortgage lenders. If you have the drive and experience to match this team at the senior level, apply to join MCT in pushing the secondary market forward.

California’s Summit Funding, Inc., a privately held nationwide mortgage banker and servicer, announced it has expanded its East Coast footprint by hiring three divisional leaders based in North Carolina: Deran Pennington, Chris Shelton, and Matt Schoolfield. They bring more than half a century of experience recruiting and building highly successful mortgage sales teams.

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Source: mortgagenewsdaily.com

Apache is functioning normally

If you’re a local to the grand strand, or thinking about moving to Myrtle Beach, SC, and planning to rent an apartment or buy a home, this city has a lot to offer. But with so much to see and do, it can be overwhelming for new residents to know where to start. To help you make the most of your time living in Myrtle Beach, we’ve put together a list of must-try experiences and unique things to do from locals to the area. So grab your walking shoes and your sense of adventure, and get ready to dive into the ultimate Myrtle Beach bucket list experience. 

1. Visit the Marshwalk of Murrells Inlet

The Marshwalk in Murrells Inlet is a captivating waterfront boardwalk that offers a unique blend of natural beauty, coastal charm, and lively entertainment. “Not only will you find 9 amazing seafood restaurants but the views of the inlet are spectacular,” states South Carolina local Corina Whitehead of Carolina Food Tours. “Visit during the day and participate in some of the fun activities, including paddle boarding, jet skis, dolphin watch tours, seakart adventures, and more. Visit in the evening for a sunset cruise, listen to local bands playing at each of the restaurants or my favorite, enjoy delicious, fresh, local seafood at any of the restaurants along our Marshwalk.” 

2. Spend the day at Broadway at the Beach

Broadway at the beach is the largest walkable entertainment venue in South Carolina. It overlooks Broadway, has many unique shops, dining and entertainment. According to local travel planner Kimberly McCord of Myrtle Beach SC Travel, “I highly recommend grabbing a meal at The Grumpy Monk, it is locally owned and operated and serves anything from burgers to sushi and has great local beers on tap.” She shares, “if you are looking for fun attractions and entertainment check out Teal Nation for shopping and visit Ripley’s Aquarium to see Sea Creatures, Sharks, Rays, Jellyfish, Penguins and the new Sloth Exhibit.” 

3. Attend a Myrtle Beach Pelicans Baseball game 

“Attending a Myrtle Beach Pelican baseball game is one of the more unique things to do in Myrtle Beach that should be on everyone’s bucket list,” states travel blogger Tori Mitchell. “It’s a great family-friendly event with all of the hands-on activities for kids, but is also perfect for those looking to enjoy some of the many drink specials offered throughout the week. The baseball team is so much fun to watch as they play against many other teams in the area.” 

4. Go Shark tooth hunting 

Myrtle Beach is known for its beautiful shoreline and abundant marine life, including sharks. Over time, fossilized shark teeth wash up onto the beaches, making it an ideal destination for shark tooth hunting. To hunt for shark teeth, visitors can stroll along the sandy shores, particularly in areas where the waves crash and expose new layers of sediment. The best time for hunting is usually after high tide or during low tide when more treasures are revealed.

“Myrtle Beach is very special to our hearts. There is nowhere else that we have enjoyed more at the ocean during our annual spring vacation,” shares travel blogger Barbara Robinson of Inspirational Travel Adventures. “The competitions, the fresh air, the ocean breezes, the early mornings and late nights searching for shark teeth, there is nothing better.” 

5. Enjoy the sunshine at Springmaid Beach

Springmaid Beach is a serene coastal retreat along the shores of Myrtle Beach. It offers a beautiful sandy coastline, clear waters, and a variety of activities such as swimming and surfing. Nature enthusiasts can appreciate the diverse wildlife and coastal ecosystem. The beach features Springmaid Pier, which provides panoramic views and fishing opportunities. Visitors will find amenities like beach access, parking, restrooms, showers, and nearby dining and shopping options. 

“A must-do activity while visiting the beach is to have your family’s photo taken,” says local photographer Tanya Brunson of Myrtle Beach Family Photography. “Capture your family’s vacation memories in beautiful beach portraits that your family will cherish forever.”   

6. Learn how to surf 

Taking surf lessons in Myrtle Beach offers an exhilarating and enjoyable experience for individuals of all ages and skill levels. Whether you’re a beginner eager to catch your first wave or looking to refine your surfing technique you are bound to have a great time. With the beautiful backdrop of the sea and sand combined with experts to help you along the way you could become a surfing pro in no time. Jack’s surf lessons experts have all the local knowledge you need to enjoy your time on the ocean. Jack’s Surf lessons general manager Paige Hannigan also offered us some local expertise on where you should get dinner after you finish your lesson. “The best spot for fine dining is Bistro 90 out in Longs- it’s absolutely worth the quick drive and you have to try the pinwheel steak and whatever cakes they have for dessert that day. If you decide to hit the water on a boat and go out on the waterway, make sure you stop by Crab Catchers for some super fresh seafood and their homemade coconut cream pie.” 

7. Schedule a round of Putt-putt golf 

According to lifestyle blogger Whitney Rife Becker of Whitney Rife Blog, “if you’re planning a trip to Myrtle Beach, South Carolina, there are a few must-do activities that you simply have to put on your bucket list. For starters, you really can’t visit Myrtle Beach without going putt-putting. There’s a putt-putt course on every corner, and it’s an activity that’s fun for all ages. Beyond putt-putt, make sure to carve out at least one evening for dinner on the inlet at Marshwalk in Murrells Inlet. There’s nothing quite like enjoying a delicious dinner while taking in the stunning views of the inlet – it’s the perfect way to unwind after a busy day of beach-going and exploring, you can even catch my favorite local bands at Dead Dog Saloon or Wahoos.” 

A final note on the ultimate Myrtle Beach bucket list

Living in Myrtle Beach, SC offers a plethora of exciting experiences to add to your bucket list. This coastal city provides endless opportunities for adventure and relaxation. So, whether you’re a resident or planning to visit, get ready to immerse yourself in the ultimate Myrtle Beach bucket list experience and create lifelong memories.

Source: redfin.com