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In the dynamic housing landscape, having no rental history can often feel like a roadblock when seeking your ideal home. Whether you’re a first-time renter or moving to a new city like Albany, NY, the absence of a rental history might seem daunting. However, this unique situation shouldn’t deter you from finding a place that suits your needs and aspirations. 

If you’re in the market for apartments or unsure where to begin, this Redfin article is here to help. We’ll walk you through everything from building trust with landlords to proving your financial stability, giving you the tools you need to snag that perfect apartment, even if you’re starting from scratch. Get ready to navigate the renting journey with confidence.

What is rental history?

Rental history is like a report card for your time as a tenant. It records where you’ve lived before, how long you stayed, if you paid your rent on time, and how you treated the place. Landlords use this history to decide if you’re a reliable renter. If your previous renting experiences have been positive and you’ve maintained a good track record, it’s akin to receiving a vote of confidence from landlords.

Where to start with no rental history

When faced with a lack of rental history, beginning your housing journey requires a strategic approach. The initial step should involve assessing your financial standing and gathering relevant documentation demonstrating your reliability. Creating a comprehensive rental resume detailing your employment history, references, and other positive credentials can establish this credibility.

What are ways to get approved with no rental history?

Applying for an apartment without a rental history can be challenging. However, there are ways to increase your chances of approval.

1. Provide references

Getting people who know you well, like friends, coworkers, or bosses, to vouch for you can be essential if you don’t have a rental history. These references can tell landlords that you’re trustworthy, can manage money responsibly, and take care of places. Having these references can make landlords more confident about renting to you and improve your chances of getting the apartment.

2. Have a co-signer or guarantor

If you don’t have rental history, it’s a good idea to have a co-signer like a family member or a guarantor. They give the landlord extra financial security.

A co-signer pays rent if you can’t. A guarantor fulfills your lease responsibilities. This setup makes sure the landlord gets paid on time and things go smoothly, even if you don’t have a renting history.  As a result, you become a more reliable tenant. 

3. Show that you have financial stability

Demonstrating that you are financially stable is crucial when you lack rental history. This helps landlords feel confident that you’ll be able to pay the rent on time. Showing pay stubs, employment verification, or bank statements proves you have enough money to pay your monthly bills.

4. Pay a higher security deposit

A larger security deposit gives landlords a sense of financial security in case of potential issues. This extra money upfront shows you’re serious about taking care of the place and can ease their concerns about renting to someone without much history.

5. Explain your situation

Explaining your situation to the landlord is important, as it provides context and transparency when you lack rental history. Sharing reasons for your lack of history, such as transitioning from living with family or moving to a new area, helps landlords understand your circumstances. 

6. Offer prepaid rent

When you’re new to renting, putting down money for several months’ rent ahead of time can be really convincing. It makes landlords feel more at ease because it means they’re not taking as much financial risk. Plus, it shows you’re really serious about sticking to the lease agreement.

7. Highlight a good credit score

When you’re new to renting, having a strong credit score works in your favor. A high credit score reflects your history of repaying debts on time and managing credit responsibly. It’s a concrete way to show that you’re responsible with money and can handle financial commitments well.

8. Meet the landlord in person

A face-to-face interaction lets you showcase your professionalism, responsibility, and genuine interest in the property. This can be a big factor in their decision-making, as it helps them build trust and could even boost your chances of getting the apartment.

9. Apply to apartments with smaller landlords or private individuals 

These landlords often have more flexibility in their tenant selection process and may be more open to considering applicants without an established rental record. Their decision-making might be based on personal interactions, references, and other factors beyond rental history.

How to find an apartment: 8 steps for success 

Now that you know the process of securing a rental approval with no rental history, here are the steps you need to find an apartment.

1. Set a budget. Using tools like a rent affordability calculator will help you budget to find a rental that aligns with your financial capabilities.

2. Define your needs and wants. Prioritize the amenities that are essential for your comfort and lifestyle.

3. Explore different neighborhoods. Choosing the right apartment involves exploring various neighborhoods. Each area has its own vibe and amenities. Visiting different neighborhoods helps you find the right fit for your lifestyle and preferences.

4. Use online platforms to find rental properties. When you’re on the hunt for an apartment, online rental platforms are your best friend. Redfin and Rent.com allow you to browse through numerous properties, tailor your search according to preferences, and access specific information about each property.

5. Contact property managers and landlords. Ask questions about rental terms and requirements, and establish a direct line of communication to expedite securing your desired rental.

6. Tour apartments. Apartment touring gives you the chance to see the space in person, assess its condition, and envision yourself living there. During the tour, pay attention to details like layout, lighting, and storage space. Don’t hesitate to ask questions about maintenance, utilities, and the neighborhood.

7. Apply for your dream home. Submit your rental application, including necessary documents and contact information, to the landlord or property manager. They will run a background check and credit check to see if you qualify.

8. Sign the lease. Once you’ve been approved, make sure to review the rental agreement thoroughly before signing your lease.

Source: redfin.com

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Owning and managing vacation rentals is a dynamic endeavor, one that balances profit, experience, and community impact. Regardless of whether you’re managing a house in Oklahoma City or a condo in San Marcos, CA, you’ll encounter unique challenges specific to different markets. These are hurdles nearly all vacation rental managers have faced, especially in the early days.

However, navigating this terrain requires a careful avoidance of potential pitfalls that can hinder your success. From maintaining a balanced objectivity to perfecting market strategies, ensuring effective communication to building strong relationships with neighbors,

This Redfin article presents a comprehensive list of vital vacation rental issues to sidestep. Drawing on the expertise of industry leaders, you’ll gain valuable insights into these potential roadblocks and learn how to proactively avoid them. You can move onto orchestrating a thriving five-star vacation rental venture, as these experts illuminate the path to smoother operations, satisfied guests, and prosperous outcomes. Learn from their experiences to safeguard your investment, maximize your earnings, and cultivate a positive impact on the hospitality landscape.

1. Unbalanced objectivity and emotion

“It’s crucial to remember that your vacation rental is not merely a personal space, but a business asset designed to generate revenue,” recommends Matt Barbuzzi from Park Place Property Management  “While striving to host only the best guests is important, you must be prepared for the occasional mishap, as they’re inevitable in this line of business. Do not allow personal sentiments to cloud your judgment or emotional resilience. This is particularly crucial if your property carries sentimental significance or serves as a family space. Unless you’re renting it to close friends or relatives, we strongly advise against utilizing such properties for short-term rentals due to potential emotional distress.”

2. Neglecting proper screening

“Screening vacation guests presents unique challenges compared to screening conventional yearly renters, as you have limitations on the information you can request, such as contacting and verifying employment history and previous landlords. Nevertheless, implement various techniques to ensure the security of our properties,” shares Maximilian Kostyashkin and Carlos Pena from MAK Realty Group. “These techniques include:

  • Utilizing advanced guest screening software such as Autohost, Chekin, Superego, or Authenticate. These platforms conduct credit checks, background checks, official ID verification, and require damage deposits. Additionally, they provide comprehensive short-term rental agreements for guests to sign.
  • Implementing a minimum stay requirement: During peak seasons, we request a minimum stay of three days. This measure helps prevent individuals from renting your property for a one-time event or party.
  • Noting the usage of noise monitoring technology, which effectively deters party-oriented renters.
  • Employing device monitoring software: All of our properties are equipped with software that tracks the number of devices in use. A sudden spike in device count, such as reaching 20, is often indicative of a potential party being hosted by your guests.”

3. Underpaying housekeeping

“Don’t settle for the lowest cost – invest in your cleaners, and your guests will undoubtedly notice the difference in the quality of your vacation rental,” stresses Realty Street.

“I can’t stress enough how crucial it is to pay cleaners. By offering fair compensation, you not only maintain a high standard of cleanliness but also enhance their motivation and dedication to delivering exceptional service. Skilled cleaners are attracted to good pay, and this directly impacts the guest experience, contributing to a positive reputation, and ensuring a comfortable and welcoming environment for your guests.”

4. Overcomplicating your guest’s experience 

“Don’t impose excessive check-out procedures on guests. Tasks such as initiating a load of towels, disposing of kitchen trash, and running the dishwasher are optimal. It’s essential to communicate to guests that these chores contribute to minimizing cleaning fees and encouraging early check-ins,” says HAVEN Property Management.

“Offer instructional videos for any intricate features in your vacation rental. Videos that guide guests through operating the hot tub, using smart devices, or navigating other complex equipment can be conveniently provided in video format.”

5. Setting bad pricing

“Many hosts lack market knowledge about rates and set their prices based on their emotional attachment to the specific property. This often leads to rates that are excessively high for the market, resulting in a lack of bookings,” shares Oliver Albrecht from Valibera. “Then after a while, they significantly reduce the rates, leading to more bookings, but these rates may only cover the house’s costs without generating any profit for the homeowners. This cycle continues for a while until they eventually give up, having to either rent the house on a long-term basis or even sell it due to their inability to meet the mortgage payments.”

6. Communication problems

“The foremost error in vacation rental management is failing to communicate with property owners. Their investment properties, often among their most valuable assets, rely on generating income or covering their costs,” says Port Aransas Airbnb Vacation Rental Property Management by Grand Welcome. 

“Entrusting management to others necessitates trust, and trust thrives on communication. Without it, owners concoct narratives, eroding trust, leading to misunderstandings and unfulfilled expectations. Communication is the bedrock of vacation rental partnerships, ensuring both parties thrive. A proactive approach, balancing issues and successes, fosters deeper trust. Regular, strategic personal calls build trust, deepen partnerships, and facilitate owner-to-owner referrals that surpass marketing efforts in expanding business.”

7. Having a bad relationship with your neighbors 

“Some owners become concerned about potentially upsetting neighbors with their short-term rental (STR) properties, and rightfully so—no one wants to create adversaries,” recommends Long Beach Airbnb Vacation Rental Property Management by Grand Welcome.

“Provide owners with the following anti-nuisance tactics:

  • Communicate with the neighbors before launching your short term rental (STR) and provide them with a contact number to call if any issues arise.
  • Be available 24/7 for communication or property visits to ensure a peaceful environment.
  • Communicate with guests—through the listing, pre-arrival emails, and arrival-day texts—that events and parties are prohibited, and violating this rule will result in eviction. Be polite but firm.
  • Consider only renting to guests who stay for more than two nights (three or more nights are even better). One-night stays tend to attract “party” people.

Here is an example from a standard email I send to my STR guests:

I wanted to let you know that there is a long-term tenant living above the garage (separate building) and neighbors on both sides in close proximity, which means the back patio closes at 11pm sharp. The Belmont Heights Retreat is the perfect place for peace and serenity.  

If you have any issues during business hours – my contact information can be found below, and we have a Guest Services line available 24/7 at 888.XXX.XXXX”

8. Neglecting feedback 

“Feedback is the lifeblood of your vacation rental. How do you know what guests do or don’t like, or where you’re missing the mark on certain things? Without actively seeking, tracking, and implementing feedback, you’re vulnerable to operational blind spots that will impact your bottom line,” suggests Michael Skinner from Savvy VRM. “If guests don’t leave a review, nudge them by politely asking for one. Or send them a text asking if they’d be open to discussing their experience with you on a quick phone call.”

9. Poor market strategy

“At Grand Welcome Nashville, we don’t just rely on traditional platforms. We amplify our reach by promoting on over 120+ websites, social media marketing campaigns, and our community ensuring our homeowners get unparalleled exposure and guests taste authentic Nashville,” suggests Nashville Airbnb Rental Property Management by Grand Welcome.

“Nashville is more than just a city; it’s an experience, a melody that lingers long after the song ends. I think that capturing this essence in your marketing is crucial. Highlighting local attractions, events, and the unique Nashville vibe can magnetize guests, drawing them into the city’s embrace.”

10. Skimping on professional photos

“I believe the top mistake to avoid is not hiring a professional photographer to take listing photos. This can differentiate you from your competition and make you stand out instantly, as first impressions are incredibly important,” recommends Gabe Chase from Brentwood Property Group.

11. “Set it and forget it” pricing

“One of the most common mistakes is adopting the ‘set it and forget it’ approach to pricing. Each day holds its distinct market value, and overlooking this fact can result in either foregoing potential income or struggling to secure bookings,” says Garret Ham from Weekender Management. “While using pricing tools like Wheelhouse and PriceLabs is a positive step, they are not a universal solution. These tools still rely on the property manager’s insights and knowledge, and should be complemented by your own market research.”

12. Unclear check-in, check-out times

“It’s good to remind the guest in a friendly way what time check-out is, especially the day before to check-out. Also, place it in a visible space in the house and in a friendly ‘hope you liked your trip’ text,” suggests Michael B. Emerick, Co-Founder of Oversee. “If the guest gets a little spacey and leaves late, it can cause a poor experience for the next guest by pushing back their check-in time. Be as hospitable as possible, but don’t let a guest infringe upon another guest’s vacation.”

13. Lack of adequate property insurance

“Not having property insurance leaves vacation rental owners vulnerable to potential financial losses and liabilities in the event of accidents, damages, or unforeseen circumstances,” warns  Nomadness Rentals. “Proper insurance coverage, such as vacation rental insurance, is crucial to safeguarding your investment and protecting against risks associated with short-term rentals.”

14. Not setting house rules and policies for guests

“Whether it’s a chic apartment in the heart of Austin or a secluded cabin in Hill Country, clarity is key. Clearly defined house rules, from pet policies to quiet hours, ensure guests know what’s expected,” recommends Alexander Buchanan, owner of Austin Airbnb Rental Property Management by Grand Welcome. “A comprehensive guest manual, with guidelines on appliance usage, emergency contacts, and local tips, ensures a hassle-free stay. This proactive approach minimizes misunderstandings and ensures guests can fully relax, knowing they’re in good hands.”

15. Incapable of juggling roles and meeting demands

“As vacation rental managers, we wear many hats, skillfully handling both property owners and their assets – encompassing furnishing, maintenance, upkeep, updates, pricing, marketing/advertising, accounting, and more,” says Blue Pacific Vacation Rentals

“We also navigate the world of guests – marketing/advertising to secure bookings, administering paperwork/contracts for owner and guest protection, overseeing maintenance, managing access/technology/information, arranging cleaning/maintenance, and meticulously curating guest experiences to foster repeat patronage, among other responsibilities. This multifaceted role underscores the distinct and demanding nature of vacation rental management, far exceeding the misconception that it merely involves posting property images on Airbnb.”

“There are myriad mistakes one can make while managing a short-term rental venture. Drawing from my experience in the current market, the most prevalent errors involve not assigning sufficient importance to gaining a competitive edge. This entails investing in elements such as furnishing, decorations, high-quality linens, bedding, and amenities, all of which are essential in an already saturated market. 

16. Not differentiating yourself

“It’s imperative to set yourself apart amidst this crowded landscape,” suggests Tampa Airbnb Vacation Rental Property Management by Grand Welcome. “Furthermore, the significance of a well-planned pricing strategy, maintaining cleanliness, and ensuring effective communication and responsiveness in guest services cannot be overlooked in terms of common mistakes. 

Make sure to differentiate yourself. With numerous short-term rentals available, standing out is crucial. Highlight what makes your property unique, whether it’s a specific theme, design, or location. Don’t ignore offering local insights. As a host, you can provide valuable insights about the local area. Recommendations for nearby attractions, restaurants, and services can enhance the guest experience.”

17. Skipping local laws and regulations

“Begin by thoroughly studying the local laws and regulations that pertain to STRs,” recommends MyTripify. “Ensure you grasp all the pertinent regulations, or enlist the expertise of a property manager who does. Non-compliance, such as violating HOA restrictions or listing an STR with an occupancy exceeding septic tank limits, can lead to hefty fines. The potential consequences far outweigh any initial gains.

That being said, don’t underestimate the importance of insurance coverage for STR hosts. Investing in insurance products is a cost-effective means of mitigating the risk of property damage. By securing insurance, you regain control over potential damages and maintain your property’s excellent condition, all the while upholding high levels of guest satisfaction.”

18. Forgetting systems and setting expectations as you grow your business

One of the biggest mistakes vacation rental managers make that’s costing you time and money is hiring additional people on your team without systems,” warns Pink Cash Cow Property Management. “As your business grows, you can’t do everything yourself, so you hire someone to help you with tasks at the property or remotely. However, the person may not do it right, not getting the results you’re looking for, or you’re getting negative reviews and guest complaints. 

You end up doing the work again yourself or spending time trying to find someone else. The best way to efficiently operate and grow your business without taking more time or effort is creating systems and processes that people can follow for consistent results, like getting five-star reviews without you doing the work. Have a process and system for maintenance, cleaning, staging, linens, etc.”

19. Not being persistent enough 

“One of the most, if not the most, important steps in ensuring successful vacation management for your home or business is to ensure that you are overly communicative with your guests, both before and during their stay,” shares Emily Bishop, Communications Manager for Brightwild. “Lay out check-in instructions clearly, while also making sure that any preemptive questions guests may have are already answered. It seems overly simplistic, but you’d be surprised to know that this isn’t always a priority for some vacation management companies.”

20. Not learning and resolving problems quickly

“One observation I make regarding most vacation rentals is the absence of established, repeatable systems geared towards success. This translates to encountering hard challenges, even if these issues were addressed just six months prior. Consequently, the team finds itself retracing steps to unearth solutions for guests or risk leaving them discontented,” says Cody Wood from STR Accommodations.

“Similarly, another prevailing issue frequently encountered in the vacation rental industry pertains to the swiftness with which guest concerns are tackled. At times, these concerns revolve around maintenance matters, indicating a deficiency in the property’s upkeep schedule, or worse, its nonexistence. 

Alternatively, the problems might stem from malfunctioning amenities or depleted supplies due to a lack of efficient restocking systems on the part of the owner or manager. The remedy for both aforementioned concerns involves implementing a quarterly or monthly maintenance regimen supplemented by a 24/7 emergency helpline dedicated to property support. Diligent tracking of inventory levels post each turnover clean at the property level is essential. Speed assumes paramount importance in the realm of vacation rentals, as our physical absence from the property necessitates possessing a clear grasp of effective troubleshooting procedures. This approach not only facilitates swift responses but also leaves guests content with the prompt resolution of their issues.”

21. Keeping up with maintenance needs

“One common mistake is underestimating the ongoing maintenance needs of a vacation rental property. Failing to address maintenance issues promptly can lead to negative reviews and dissatisfied guests,” Bend Airbnb Vacation Rental Property Management by Grand Welcome advises. “To avoid this, we recommend creating a thorough maintenance schedule, conduct regular inspections, and request that the homeowner set aside a portion of their rental income for unforeseen repairs.

Sameway, using poor-quality or outdated photos for your vacation rental property can deter potential guests. Ignoring the importance of professional photography can lead to decreased bookings and interest. We highly recommend investing in high-quality, well-lit photos that accurately showcase the property’s best features. Always hire a professional photographer who specializes in real estate to capture the property’s appeal.”

Source: redfin.com

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Real estate signs advertise new homes for sale in multiple new developments in York County, South Carolina, U.S., February 29, 2020. REUTERS/Lucas Jackson/File Photo

Aug 10 (Reuters) – U.S. mortgage delinquency rates fell to a record low in the second quarter due to a strong job market and low interest rates prevailing on most home loans despite the big jump in mortgage rates over the last two years, a report on Thursday said.

Delinquency rates fell to 3.37% at the end of the second quarter, according to the Mortgage Bankers Association’s National Delinquency Survey, their lowest since the MBA began collecting data in 1979 and down from 3.64% year-on-year.

Seriously delinquent loans, which are 90 days or more past due or in the process of foreclosure, fell to the lowest non-seasonally adjusted rate in 23 years at 1.61%.

Economists are watching mortgage delinquency rates closely for signs of weakness amidst the Federal Reserve’s aggressive 525 basis point interest rate increase since March 2022, which increased the cost of borrowing across the board.

While the MBA said many borrowers have been able to withstand surging mortgage costs in large part due to a resilient job market and strong wage growth throughout the year, most homeowners are also paying interest rates well below those charged on new loans.

Real estate brokers estimated in June that more than eight in 10 loans outstanding featured at rate below 5% at the end of 2022, well below the MBA’s most recent contract rate above 7%. More than six in 10 pay 4% or less.

While the share of those paying such low rates is declining, many homeowners are opting to remain where they are rather than move and take on a new loan at current rates, which are approaching a 22-year high.

Despite the historically low delinquency rate, the MBA said not every borrower has been able to withstand the recent stress of hiked interest rates.

The delinquency rate on loans for low-income and first-time buyers, backed by the Federal Housing Administration (FHA), edged up 10 basis points annually to 8.95% in the second quarter.

Separately on Thursday, the National Association of Realtors released a report showing that the median home price in the second quarter fell 2.4% year-on-year to $406,000, albeit with significant variations nationwide.

“Home sales were down due to higher mortgage rates and limited inventory,” said NAR chief economist Lawrence Yun. “Affordability challenges are easing due to moderating and, in some cases, falling home prices, while the number of jobs and incomes are increasing.”

Reporting by Safiyah Riddle;
Editing by Dan Burns and Marguerita Choy

Our Standards: The Thomson Reuters Trust Principles.

Source: reuters.com

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AG Mortgage Investment Trust, Inc. entered into a definitive agreement Tuesday to merge with Western Asset Mortgage Capital Corp., beating its competitor Terra Property Trust, Inc.

AG Mortgage, a pure-play residential mortgage REIT controlled by Angelo, Gordon & Co. and owner of mortgage lender ARC Home, made a stock-and-cash offer for its peer Western Asset, managed by Franklin Resources, Inc. As a result, Western Asset terminated its previously-announced acquisition agreement with Terra Property. 

The AG Mortgage deal includes the payment of $10.11 per Western Asset common share and $1.12 in cash per share, representing a transaction value of $11.23 per share, a 34% premium on Western Asset’s closing stock price on the NYSE on July 12, 2023.

“Combining these highly complementary portfolios will help scale our platform, generate greater operational efficiencies, cost synergies, and accretive earnings growth, and benefit all stockholders,” T.J. Durkin, president and CEO of AG Mortgage, said in a statement. 

Last year, Western Asset, a non-qualified-mortgage player, announced it was exploring a potential company sale or merger after posting a $22.4 million net loss for the second quarter of 2022.

The dispute between AG Mortgage and Terra Property began two months ago. 

On June 28, Terra Property, managed by Mavik Capital Management, and Western Asset announced that they entered into a definitive agreement to merge in a book-for-book deal. The transaction valued Western Asset at $17.30 per share, but the REIT’s stocks traded down after the deal became public. Investors were skeptical about Terra Property’s share value since it’s a non-traded REIT. 

On July 13, AG made its first offer for Western Asset at $9.88 per share, including $0.98 in cash. The bid included an implied value of $8.90 per common share ($54.5 million in total) and $0.98 per share in cash to shareholders ($6 million in total). AG Mortgage waived $2.4 million in management fees in the first year after closing.

Terra Property then enhanced its proposal, offering an implied share price of $15.96 per share, including $1.43 per share and $8.75 million in cash, but Western Asset declined. 

Vik Uppal, chairman & CEO of Terra Property and Mavik Capital Management, expressed disappointment with the response to its proposal that he felt demonstrated “superior value.” “

“[Western Asset] requested additional changes that we were unwilling to make because they would not have been in stockholders’ best interests, ” Uppal said in a statement.  

Bonnie Wongtrakool, Western Asset CEO, said the merger with AG Mortgage delivers immediate cash value to Western Asset  stockholders and will let them continue to participate in the upside of the combined company.  

Source: housingwire.com

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39 Northwestern Mutual Advisors Represent the Future of Financial Services in Forbes’ 2023 Top Next Gen Wealth Advisors Best-in-State List MILWAUKEE, Aug. 11, 2023 /PRNewswire/ — Northwestern Mutual is celebrating its 39 financial advisors honored on this year’s Forbes’ Top Next Gen Wealth Advisors Best-in-State list. The accolade recognizes the top advisors across the country building … [Read more…]

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Photo Source: Adobe Stock


Welcome to Virgo season, a time synonymous with practicality, organization, and meticulous attention to detail. For people born under this Earth sign — or anyone who appreciates the Virgo way of life — this time of year resonates deeply with their core values. Virgos are renowned for their analytical approach to life, focus on improvement, and knack for bringing order to chaos. As they strive for efficiency and practicality in every aspect, they also have an inherent desire to create harmonious environments.

These diligent individuals believe that everything has its place and purpose, whether in their personal life, professional goals, or home décor. In essence, Virgo season is a celebration of the functional, the orderly, and the beautiful. It’s about creating spaces that are not just clean and organized but also meaningful and serene.

As we journey through this special season, let’s take a leaf out of the Virgo book and strive to create a home environment that reflects these traits. We’re bringing home decoration tips embodying the Virgo spirit’s practicality and harmony with a dash of elegance.

1. Kiss Dirt Goodbye: Tumble’s Washable Rugs




Photo Source: Tumble


As we bask in the energy of Virgo season, it’s time to bid farewell to stubborn dirt and grime — especially the kind that clings to your beloved rugs. While charming, traditional rugs can be a nightmare to keep clean. The solution? Tumble’s washable rugs! They shout practicality and whisper elegance in every thread.

Imagine sipping your morning coffee, curled up on your sofa, your feet luxuriating on a soft, clean rug. A clumsy spill? No problem. You have a washable rug, which means all you need to do is toss it into your washing machine, and it’ll emerge as spotless as the day you bought it.

These rugs don’t just offer easy cleaning, they also add to the harmony of your home. They’re available in a plethora of designs and sizes, meaning you can find the perfect match for your hallway, living room, or even your bathroom. Choose a calming pastel hue to bring serenity to your study or a vibrant pattern to add a touch of joy to your kitchen. Either way, it’s the perfect stylish yet practical touch for any Virgo or Virgo-lover.

2. Shield Against Mayhem With Steadily

In our quest for a harmonious living space, we shouldn’t forget the importance of a strong, reliable shield against unforeseen mayhem. Yes, we’re talking about home insurance. A well-organized home is about more than neat shelves and pretty décor. It needs to ensure the safety and security of your space.

If you’re renting your space, it can be challenging to figure out where your coverage begins and where your landlord’s ends. That’s why it’s important to have Steadily on your side, to help clarify everything you need to know about coverage, from the landlord insurance cost to whatever you need to know to protect your space.

No more fretting over potential water damage or fire incidents. Instead, you can enjoy your neatly arranged bookshelf or beautifully coordinated living room without worry. As we embrace the practicality of Virgo season, let’s not forget to protect our homes. After all, a secure home is a serene home.

3. Elevate Your Throne With Squatty Potty




Photo Source: Squatty Potty


It’s time to talk about a throne that isn’t adorned with jewels or velvet cushions … it’s your bathroom’s porcelain throne! Embracing the practicality of Virgo season means taking a hard look at every aspect of our daily routine, including our bathroom habits. That’s where Squatty Potty comes into play.

This quirky but practical tool might just revolutionize your bathroom experience. Offering a new level of comfort and efficiency, squatty potty can improve your bathroom game.

The design of this tool helps you assume a more natural posture, aligning your body in a way that eases the process. Trust us, once you start using the Squatty Potty, you’ll wonder how you managed without it!

This little gem can also contribute to your bathroom’s harmony. Available in various styles, squatty potty can blend seamlessly into your bathroom decor, adding a touch of elegance to the most private room of your home. So, why not take your bathroom experience up a notch this Virgo season? After all, harmony starts from the most basic routines.

4. Harmonize With Good Essential’s Essential Oil Sets

When we talk about creating a harmonious environment at home, it’s about what you can see and what you can smell. The power of scent to influence mood and create a sense of peace and calm is undeniable. That’s why Good Essential’s essential oil sets should be at the top of your Virgo season shopping list.

Each drop of essential oil holds the power to transform a room. Whether you’re looking to bring a sense of calm to your home office, energize your living room, or create a spa-like atmosphere in your bathroom, these oils have you covered.

With essential oil sets, you’re not limited to just one scent. You can mix and match, creating your own personalized home fragrance that perfectly captures the essence of your space. It’s like having a secret weapon to combat stress, lift your mood, and promote a sense of harmony within your home.

As we navigate through Virgo season, let’s not forget to pay attention to scent’s invisible yet powerful element. With essential oils, you can fill your home with the fragrances that resonate with you the most, creating a space that’s not just organized but also emotionally balanced and inviting.




Photo Source: One King’s Lane


Ever wish you could simply wave a wand and make clutter disappear? Unfortunately, we don’t live in a magical world. That said, an ottoman with storage from One Kings Lane gets you pretty close. It’s a simple, effective solution for the common and often frustrating problem of clutter in our living spaces. Plus, it looks stylish and at-one with your living space, so you don’t have to worry about solving one clutter problem with another type of clutter.

On the outside, it’s an elegant piece of furniture, perfect for resting tired feet or offering an extra seat when guests arrive. Inside, it’s a spacious storage unit ready to hold your knick-knacks, magazines, or those throw blankets you always need on chilly nights.

Isn’t it refreshing to have a clean, clutter-free living room to relax in after a long day? Or a neat bedroom where you can retreat and recharge? If you want to embody the Virgo spirit fully this season, it’s all about creating a harmonious space where everything has its place.




Photo Source: Pepper Home


Who would’ve thought curtains could play a vital role in harmonizing our living spaces? But the truth is, they do. They add warmth, create privacy, and contribute significantly to the aesthetic appeal of a room. When they’re custom curtains from Pepper Home, they become even more magical.

Pepper Home’s custom curtains are an opportunity to express your style while adding a touch of elegance to your rooms. Whether you prefer dark, heavy drapes for a dramatic effect or light, airy curtains for a minimalist vibe, Pepper Home has fully covered you (and your windows).

While curtains can be a hugely grounding element in any room, which leads into this earthy sign, they’re also incredibly practical, making them a doubly perfect addition to your decor this season. Curtains also help control the light and temperature in your rooms, contributing to a more comfortable and eco-friendly home environment.

7. Sip Some Goodness With Olipop’s Healthy Soda

Let’s take a quick departure from home decor to talk about something equally important if you’re looking to ground your life: what you eat and drink. If you love soda, you probably know that all that sugar and questionable additives aren’t good for you.

Not to mention, the caffeine can get in the way of your internal harmony, too — and when your body isn’t at its best, it doesn’t matter how sleek your living space is … you’ll feel out of balance. That’s why Olipop’s healthy soda is the perfect addition to your harmonious Virgo home. It has all the flavor you crave and satisfying fizz without the negatives.

Working healthy soda into your lifestyle doesn’t just make your taste buds happy, but it also contributes to a well-organized and harmonious kitchen. With no sticky spills or sugar-laden residues to worry about, you can maintain a clean and tidy kitchen effortlessly.

8. Claim Your Space: Ewart Woods’ Cute Desk Organizer

Piles of paper, scattered pens, and misplaced Post-it notes are a recipe for chaos. Just in time, Virgo season brings the promise of order. We have what you need to tidy up your trust desk: Ewart Woods’ cute and customizable desk organizer.

Imagine having a spot for everything on your desk. Pens? Check. Sticky notes? Check. Phone? Check. Not only does this streamline your workflow, but it also reduces the time you spend hunting for that one elusive pen that always seems to disappear.

This desk organizer isn’t just about functionality, though. It also makes your workspace a lot more pleasing to the eye. You can choose the shape and combination of the pieces to this desk organizer, ensuring that you have the perfect accent to suit your space and hold everything you need. When everything has the perfect place to go, your office space will feel more harmonious instantly.

9. Shelf the Chaos: Songmics’ Shelves for Kitchen Cabinets

While your kitchen cabinets may hide clutter, that doesn’t mean they aren’t cluttered. These areas often become a wild jungle of pots, pans, food containers, and more. The best way to keep your cabinets clean and make sure that all of your kitchen supplies stay clean, safe, and visible so you don’t forget what you have and end up with forty of the same cups is by getting some cabinet organizer shelves.

They’re your secret weapon in taming this wilderness. These shelves help maximize the space in your cabinets, allowing you to neatly stack dishes, organize pots and pans, and arrange your food containers in a way that makes everything easy to find.

Just picture opening a cabinet and seeing all your baking supplies neatly arranged on a shelf or your collection of spices lined up in alphabetical order. It’s enough to make any Virgo swoon with joy!

These organizer shelves also contribute to the overall harmony of your kitchen. With everything in its right place, your kitchen becomes a more enjoyable space where you can unleash your culinary creativity without worrying about the chaos that usually follows.

Make Every Season Virgo Season

Embracing the practicality of Virgo season isn’t about transforming your home overnight — it’s about making mindful choices that contribute to a more organized and harmonious space. It’s about incorporating products that simplify your life and add a touch of joy to your everyday routines.

Whether it’s a washable rug that makes cleaning a breeze or a cute desk organizer that personalizes your workspace, these tips are all about celebrating Virgo’s love for order, efficiency, and beauty.

As the last days of summer give way to the freshness of Fall, let’s take a moment to appreciate the practicality of Virgo season by creating spaces that are not only well-organized but also warm, welcoming, and uniquely ours. Here’s to a harmonious home and a harmonious life!

Source: sfweekly.com

Source: goodfinancialcents.com

Apache is functioning normally

A little over a month after filing an agreement in one of the ongoing buyer broker commission lawsuits, New England’s largest multiple listing service (MLS), MLS Property Information Network (MLS PIN)’s attempt to settle the Nosalek case, has hit a snag.

Originally filed in December 2020, the Nosalek lawsuit alleges that the broker-owned MLS PIN is not directly required to abide by the National Association of Realtors (NAR) rules. However, it has nonetheless adopted a rule similar to an NAR rule requiring listing brokers to offer a blanket, unilateral offer of compensation to buyer brokers in order to submit a listing to MLS PIN, which has over 46,000 subscribers.

Nosalek is one of three ongoing class action lawsuits deal with buyer broker commissions. However, unlike Moehrl and Burnett, NAR is not named as a defendant.

Judge Patti Saris, the U.S. District Court judge in Boston presiding over the Nosalek case, expressed skepticism over the financial portion of the proposed agreement during a preliminary hearing to consider approval of the agreement on Wednesday.

“I’ve never seen a settlement agreement like this in my 30 years,” Saris said.

In the proposed agreement MLS PIN said it would pay $3 million, change its commission policies, and cooperate against the remaining defendants in the suit, which include Anywhere, RE/MAX, Keller Williams and HomeServices of America.

According to the proposed settlement, of the $3 million MLS PIN has agreed to pay in the settlement, up to $900,000 will go toward attorney’s fees, up to $200,000 will go toward expenses, $250,000 will go toward notifying settlement class members, and each of the three named lead plaintiffs will get up to $2,500 for being class representatives. The remaining $1.6425 million would be used to pay for further expenses for the litigation against the remaining defendants “for the benefit of Settlement Class Members,” according to the filing.

With this payment structure, class members in the case will not be getting any money from the settlement agreement, however the plaintiffs’ class-action attorneys, “get fully funded for expenses to date, and they basically get a litigation fund open-ended for the future for as long as it takes, which may be another three to five years,” Saris said.

Saris asked the Robert Izard, an attorney for the plaintiffs, if there was a way to give some of the $3 million paid by MLS PIN to class members. She said that this was the part of the settlement she is “struggling with.”

According to Izard, there are well over 300,000 class members and if the court awarded the plaintiffs’ attorneys their expenses to date, plan a 30% fee that would add up to between $1.5 million and $2 million, meaning that class members would get less than $5 each.

While Saris said she found the argument “persuasive,” she questioned why the settlement would cover plaintiffs’ attorneys’ fees for dealing with all of the defendants and not just their costs for dealing with MLS PIN. In his response, Izard said it was unclear if there would be a way to fairly divide the time the plaintiffs attorneys spent with just MLS PIN.

Moving forward, Izard said the money would be held in an attorney trust account until his firm asked the court to approve the expenses at “an appropriate time.”

Saris said that she had never done something like that before, but said it was “very creative.” She also noted that she “loves” the proposed rule changes in the settlement, which would make the offering of compensation to buyer brokers optional. The changes are contingent on the settlement’s approval.

“I do love what you’ve accomplished,” Saris said. “I had problems with that [rule], so I denied the motion to dismiss and I think two other courts did as well.”

Saris added that she also “loves” the idea of ending the practice of requiring listing brokers to offer compensation to buyer brokers “so that at least it stops the damages. The other defendants might like that, too. It sort of caps it, if you will. I do think the rule change is important and congratulations. I’m just worried here about the fairness … of how you’ve structured it, which is the individual plaintiffs get no dollars.”

Instead of the proposed financial arrangement, Saris suggested that the plaintiffs’ attorney get paid some of their fees to date and take the rest of the money and put it in a pot. If the plaintiffs won the case, the post would grow and then it would be divided among the plaintiffs, and if the plaintiffs lost, the pot from the MLS PIN settlement would be what the plaintiffs received minus a “fair” attorney fee.

The plaintiffs’ attorneys have until September 5 to either redraft the settlement agreement or brief Saris on cases with similar settlements.

“I do ideally want to do this as quickly as possible because I actually think that the rule change is a good thing,” Saris said. “I don’t want to be the person who blows that up.”

Source: housingwire.com

Apache is functioning normally

In our latest real estate tech entrepreneur interview, we’re speaking with Luke Glass from RealX.

Who are you and what do you do?

I’m Luke Glass, CEO and Co-founder of RealX. We are an exchange to buy, sell, and lease property rights. Property rights include leasing property for solar, wind, oil & gas, timber, cellular towers, conservation easements, and more. RealX allows landowners and buyers to connect and unlock the potential of every property.

My co-founder is Justin Byers – he’s the fun one!

What problem does your product/service solve?

The process to lease property rights has been opaque with people and paper-driven processes. Companies were forced to send out postcards, knock on doors and cold-call landowners to find the land they need. Landowners didn’t know who to trust; how to best market their properties; or what to negotiate.

RealX is the first aggregated exchange to list, search and transact property rights in a fully automated process. Landowners can list all of the property rights in one place – and be assured that companies across industries (solar, timber, etc..) will have the ability to see it. Companies can now see all available acreage in their target market while sitting in their office – no boots on the ground and no marketing costs. They can make offers directly to landowners in a trusted, transparent exchange.

What are you most excited about right now?

Real estate professionals can now represent their clients in RealX. We have opened up an entirely new asset class for agents to transact. Agents have built trust in their communities and are connected with landowners that have significant acreage. Now agents can assist them in marketing those property rights to interested buyers.

An unexpected part of the process is how many agents and brokers have listed their own land in the exchange. They realize that RealX is the best way to market their properties and gives them the best chance to monetize their land. When companies want to enter a new area, they will always check RealX first (low-cost and fast) before sending out postcards or knocking on doors (high cost and slow). Landowners registered in RealX will get a disproportionate share of the monetization because they will be the easiest for buyers to find.

What’s next for you?

Changing the way property rights are transacted in the U.S. requires changes across a spectrum of companies. One of our core beliefs is, “When a partner succeeds, we succeed.” We are investing in partnerships across brokerages, agents, landowners, natural resource law firms, closing/title/escrow companies, land management firms, buyers, environmental impact specialists, valuation experts, conservation credit companies, land management software, and many more.

It has been exciting to see the adoption curve accelerating. While connecting landowners and buyers is our primary goal, there is an entire ecosystem of supporting products and services that support this endeavor. The goal is to remove friction from the process and increase value for all parties.

What’s a cause you’re passionate about and why?

Fatherlessness is an issue that stirs my heart. Nothing brings out the emotions like seeing a proud father speak about his children or cheer them on as they grow up. It immediately makes me think about children who grow up without a father in their life. For the last year, I have spent 3 hours per week with a young child who doesn’t get to see his Dad. While I can’t be his Dad, I can cheer him on and let him know he has someone who will always be there.

Thanks to Luke for sharing his story. If you’d like to connect, find him on LinkedIn here.

We’re constantly looking for great real estate tech entrepreneurs to feature. If that’s you, please read this post — then drop me a line (drew @ geekestatelabs dot com).

Source: geekestateblog.com

Apache is functioning normally

HELOC, Servicing, PPE, Relationship, DPA Products; Events and Webinars This Week

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HELOC, Servicing, PPE, Relationship, DPA Products; Events and Webinars This Week

By:
Rob Chrisman

Tue, Aug 8 2023, 10:41 AM

Lending continues to be intertwined with legal and compliance issues. Here’s a story from overnight that is catching a lot of attention: “Equifax stock falls after saying it received a CID from the CFPB.” The Federal Trade Commission (FTC) agreed to drop its challenge to Intercontinental Exchange Inc.’s (ICE) proposed deal with Black Knight Inc. in a joint stipulation that allows them to work toward a settlement. Lender ToolKit is suing Celebrity Home Loans and MLD. and Meanwhile, lenders and vendors are doing what they can to increase business and tap into new markets, and with that in mind National MI is sponsoring a weekly podcast beginning today focused on offering mortgages to people in their 20s and 30s (Mortgages with Millennials). (Today’s podcast can be found here and is sponsored by SimpleNexus, an nCino Company, developer of mortgage technology uniting the people, systems, and stages of the mortgage process into one seamless, end-to-end solution. Listen to an interview with Bank of Oklahoma’s Chris Maloney on volatility and spreads, the money supply, and bond over/underperformance.)

Lender and Broker Software, Products, and Services

Everyday expenses are rising for millions, including many prospective homebuyers saving for a down payment. Mosi Gatling, a top producer at loanDepot, leaves no homeowner behind in the Las Vegas market as she assists mainly first-time, military and low-income buyers moving forward with mortgages supported with down payment assistance. Down Payment Resource shares her story and how her team of six does nine figure volume by working closely with Diane Arvizo of the Nevada Rural Housing Authority in Doing Well While Doing Good. We think this is a great example of one thing happening in Vegas that shouldn’t stay there. Read the full story here.

Work Hard Easier. Here’s how to work less and win more in this tough market. Your first instinct may be to work even harder than you have been. But instead, you should focus your energy on the essential tasks: making one-to-one phone calls, having face-to-face meetings, and personalizing your marketing with video content. Automate tasks like prospect follow-up, loan in-process updates, Realtor, and past customer outreach, thank you cards and closing gifts, etc. Set up automated social media posts also. A truly easy SmartCRM system will do all this and more. Take a look at Usherpa’s Relationship Engagement Platform, ranked number one in customer service and client loyalty in the mortgage business. Download this free Field Guide to Success and 3 Habits of Top Producers eguide to see how easy delegation can be.

In continuing to provide ways to grow happiness for our customers, TMS will become the Master Servicer for the Golden State Finance Authority’s (GSFA) Golden Opportunities “GO” a down payment assistance program. As of July 17, 2023, it is open for reservations. The Golden Opportunities DPA make mortgages more accessible for homeowners in CA by providing first mortgage financing, down payment, and closing costs assistance. The guideline eligibility under TMS will include FICO scores down to 620, DTIs up to 55% with AUS approval, and manual underwrites on VA and USDA loans. If you’re not an approved TMS lender, contact TMS. To become a participating lender of the GSFA Golden Opportunities DPA click here.

ICE Mortgage Technology’s VP of Product Strategy, Nancy Alley, was recently named one of HousingWire’s 2023 Women of Influence for her strategic execution and advancement of the Encompass® lending platform. Nancy’s profile spotlights how her unwavering customer focus has led her team to deliver the technology today’s mortgage lenders need to operate more efficiently and deliver a better borrower experience. Curious how Encompass customers are maximizing their technology investment and creating a future-proof business strategy? Click here to hear industry leaders share their key to success for staying at the forefront of innovation.

Big news! The Optimal Blue® PPE is now integrated with Encompass Partner Connect. Current clients can convert to the platform via the Encompass Partner Connect API. This new integration offers many features and benefits, including: a refreshed, modern Optimal Blue user interface; a single sign-on experience; users no longer needing to exit the loan on auto-accept transactions; the ability to view rates across all lock periods on one screen; an enhanced push queue view for secondary users; faster access to updates and new releases; and more! Complete your conversion to start taking advantage of these integration benefits today. Not using the Optimal Blue PPE yet? Learn how it can help you win more business by providing borrowers the right product at the best price for any mortgage financing scenario.

As lenders adapt to volatile mortgage rates, many are stopping to reconsider their servicing strategy. Do inconsistent mortgage origination volumes have you questioning what makes more sense: retaining servicing or selling servicing released? Seth Sprague, CMB, Richey May’s Director of Mortgage Banking Consulting Services (aka, resident servicing expert), outlines the 13 key trends and strategies in servicing including recommendations on how to make the right decisions for your business. Want more help defining the optimal strategy? You know where to find us.

TPO Programs for Brokers and Correspondents

Rising interest rates and inflation causing a dip in originations? Maximize your portfolio reach with HELOC options designed to help your customers tap into their home value to remodel kitchens, fund education, and more. LoanCare has a comprehensive understanding of the special nuances involved in servicing HELOCs such as knowing what’s required to appear on monthly statements, ensuring that interest calculations are accurate, and setting up the HELOCs correctly when the loans are on-boarded. We can accommodate segmented, fully amortized, and interest only HELOCs. Contact LoanCare today!

Events and Webinars

Back in 2016, Netflix reported that the machine learning algorithms behind its personal recommendation engine were saving the company $1 billion in content spending a year. AI and intelligent automation aren’t just technologies of the future, they’re tools you can and should be using to reach borrowers with the right message at the right time. Join Partners Mortgage’s Katie Pastor Trinidad and Joe Wilson of Social Coach alongside Dave Savage of TrustEngine on Thursday, August 10 at 2 pm ET for a free webinar on how AI can help you increase borrower engagement and loan conversions. Register today.

Lenders, want to save you and your borrower time and money? Appraisal waiver programs like Fannie Mae’s Value Acceptance + Property Data allow lenders to skip a traditional appraisal, saving the time and cost associated with it. Watch a free webinar recording featuring Lyle Radke, Senior Director of Collateral Policy at Fannie Mae. Learn the benefits of this program, use cases, and find answers to common lender questions. Plus, discover how to quickly get started with the program.

Modern financial institutions rely on their technology ecosystem to support the needs of increasingly diverse customer bases. But without a connected solution, financial institutions can’t provide seamless, personalized experiences that build lifelong relationships. Total Expert is purpose-built to help you deliver the perfect mix of digital and human-led engagements as modern consumers flow between digital channels, SMS, and in-person interactions. That’s why leading lenders like Guaranteed Rate, Atlantic Bay Mortgage, and PRMG trust Total Expert as the hub that connects their technology ecosystems and helps them deliver the perfect financial journey. Join us for a fireside chat with these industry trailblazers on Wednesday, Aug. 16 when they’ll present: Strategies for defining your tech ecosystem and goals, priorities for evaluating and procuring the tech that meets your goals, methods for generating and measuring ROI from your tech investments, and a live Total Expert platform demo. Register for the webinar.

Are you wondering what today’s Fed decision means for rates and the mortgage market? Register for a new webinar on August 9th at 11AM PT hosted by Agile Trading Technologies.

In this webinar, Phil Kukafka of Towne Mortgage, Ryan Ferderer of Multi-Bank Securities, and Andrew Rhodes of MCT will give an overview of MBS pooling, discuss the current market, share strategies for efficiently pooling and selling mortgage-backed securities, as well as the process for MBS pooling using Agile’s technology.

Join Optimal Blue for the next session in its Hedging 301 series on Wednesday, Aug. 9th, Noon ET, take a deeper dive into more advanced capital market strategies and how they naturally interplay with technological advances. This session will address the many ways Optimal Blue helps clients streamline daily processes to achieve success and optimal best execution – including mandatory price discovery and dissemination, saving basis points while delivering representative mix, solving for numerous execution iterations, and integrating to the MSR broker community for live, loan-level servicing valuations.

Join AGENT U on August 8th at 12:30-1:30pm EST for the next installment of their free monthly webinar. This month, the hosts are speaking with credit repair expert Janna Fox, CEO of ReScore, to learn about credit misconceptions. Learn how collection companies affect consumers’ credit scores, how to spot errors on credit reports, and gain insight into the hidden damage caused by pulling credit. Plus, learn expert methods to rapidly improve credit scores. Janna will be answering your questions during the live Q&A session. Visit www.agentulive.com for more details.

Looking for more in-depth commentary on weekly mortgage news? Register here for “Mortgage Matters: The Weekly Roundup with Robbie and Rob Chrisman” presented by Lenders One. Every Wednesday at 2:00 PM EST/11:00 AM PT starting August 9th, Robbie and Rob will dive into a range of mortgage-related topics, including market trends, interest rate fluctuations, innovative mortgage products, and industry advancements. Robbie and Rob will bring a unique mix of age perspective, expertise, and charisma to the screen, ensuring that the information is not only educational but also entertaining. Register for the first show on August 9th with Lenders One’s Justin Demola, CMB, as a featured guest discussing chatter from his hundreds of members.

“AFR Wholesale® (AFR) is teaming up with financing experts from Fannie Mae for the next session of our Why Wait Live Webinar Series! Please join us Wednesday, August 9th at 2 PM EST, where we will be highlighting what you need to know about manufactured home financing. Over this series, AFR has been discussing affordable financing solutions that together will help us provide homeownership opportunities to more families. Register Today! This is a live webinar, and a recording will not be provided.”

Friday the 11th at 3PM ET is the next edition of The Mortgage Collaborative’s Rundown with Melissa Langdale and me. We’ll will be covering current events in the mortgage market for 30 minutes starting at noon PT in “The Rundown”. Special guest co-host Skylar Olsen, Zillow’s Chief Economist.

James Brody, who was named Senior Litigation Partner in the wake of his merger with Garris Horn, LLP, will be co-hosting a webinar with The Mortgage Collaborative (“TMC”) at 10:00 AM PST, on August 17, titled: “Repurchase Defense Roundup: Proven Strategies to Help Lenders Fight Repurchase Demands and Pursue Culpable Third Parties.” Both Mr. Brody and his colleague, Ingrid Petersen, look forward to educating attendees on a number of invaluable strategies that will help them more effectively fight repurchase demands and improve their chances of being made whole whenever a lender is not able to successfully dispute a claim because of bad facts and/or needs to preserve a business relationship.

Capital Markets

Bond yields push higher to open the week following hawkish comments from Federal Reserve officials. New York Fed President Williams sees Federal Reserve policy remaining restrictive “for some time” and Fed Governor Bowman said that additional rate hikes will likely be needed. Rates have also been pushed higher following last week’s double-whammy of Fitch’s ratings downgrade and the heavy supply announcement from the U.S. Treasury. And don’t forget non-farm payrolls from Friday, which showed that despite missing the headline number and the previous month’s observations being revised lower, wage growth increased more than anticipated.

July marked the second consecutive month of job growth below 200k, signaling the labor market continues to cool. However, wages held firm, adding to arguments the Federal Reserve has gotten the upper hand on inflation without triggering a recession or major job losses. The unemployment rate declined to 3.50 percent, which is slightly above the 53-year low set back in January. The ISM manufacturing index improved but remained in contractionary territory for the ninth straight month in July. Price paid eased for the fifth time over the last seven months. Meanwhile, service data showed moderate expansion once again as consumers shift spending from goods to services. The most recent Senior Loan Officer Opinion Survey shows credit conditions for commercial and industrial loans remain tight and 40 percent expect further tightening. This could create a drag on growth as projects become delayed or abandoned due to lack of financing.

Though this week will be dominated by the Consumer Price Index report on Thursday and the Producer Price Index on Friday, as well as consumer sentiment, small business optimism, and mortgage earnings from United Wholesale, Loan Depot, and Guild, today’s economic calendar kicked off with NFIB small business optimism for July (hitting an 8-month high). We’ve also received the June trade deficit ($65.5 billion). Later today brings the beginning of Treasury’s quarterly refunding when it auctions $42 billion 3-year notes. Two Fed speakers are scheduled, Philadelphia President Harker and Richmond President Barkin. After the yield curve extended its recent steepening move yesterday, we begin the day with Agency MBS prices better by .125-.250 and the 10-year yielding 3.98 after closing yesterday at 4.08 percent, bonds rallying in part due to some slow-growth news out of China.

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Source: mortgagenewsdaily.com