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Anxiety grips LOs as layoffs sweep the industry

Housing Wire

According to Fahad Janvekar, a loan officer at Fairway Independent Mortgage , “there is definitely some concern” about layoffs in the industry. With newer folks, there definitely is more uncertainty because if there is a squeeze, am I good enough to survive? Presented by: Black Knight. In 2020, hiring in the mortgage industry surged.

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A look at Knoxville’s hot housing market

Housing Wire

You set your appointments the night before, and when you get there that morning, they might already be under contract.” But broker Renee Humme, with Prime Mountain Properties , said the lower property taxes, mountains and surrounding scenery, and low cost of living are the main draws for most of her clients.

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Unanswered Questions – Part 1

Appraisal Buzz

Trying to meet deadlines, keep my clients informed, and put out a quality product in this busy market is enough to make my head spin. Fannie Mae defines market value in part as “the most probable price that a property should bring…” Thus, probability is the very foundation of the most common definition of market value.

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Real estate commission dispute? Do this.

Housing Wire

Over the past year or so, we have seen an uptick in questions relating to commission disputes between brokers and their clients. A typical commission dispute arises when, after signing a listing agreement or buyer-broker agreement: A seller-client “cancels” a valid purchase contract. A seller-client cancels a listing.

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Buyers are being picky — here’s how you can navigate it as a real estate agent

Housing Wire

While I hate to be the bearer of bad news, that era is almost most definitely drawing to a close. Well into January, we are already seeing properties go under contract in the first weekend with multiple offers. The changing tides Previously, buyers were able to look for over a month, as average days on market continued to climb.

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Real estate firms may be on the hook for wire fraud losses: CertifID

Housing Wire

In an analysis of more than 100 real estate wire fraud cases, CertifID found that the most common wire fraud-related legal liability issues for real estate firms are negligence, breach of contract, deceptive business practices and breach of fiduciary duty.

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The Value of Words in Valuation

Appraisal Buzz

When reading contracts, words will always have their ordinary meaning unless defined otherwise. Below is the definition from Webster’s online dictionary of the plain meaning rule: Plain meaning rule. Below is the definition from Webster’s online dictionary of the plain meaning rule: Plain meaning rule. adjective.

Valuation 360