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Blog

7 Aug, 2025

We’re back traveling and packing for the plethora of conferences. Packing and intellect sometimes collide: for the life of me, I can’t seem to grasp this simple video on the moves of how to fold a t-shirt in under two seconds. (It is worth waiting out the ad; show it to your kids.) The Fed doesn’t set mortgage rates, but the markets seem focused on its every move and opinion since its mandate of maximum employment, price stability, and steady inflation is always precarious. The Fed is often a topic on The Big Picture, but this week Katie Sweeney, EVP of Broker Strategy and Advocacy at Rocket Mortgage, is on to discuss the moves on the trigger leads bill with its implications… a big win for the MBA and our biz. Speaking of that organization, the MBA’s Marina Walsh, CMB, reminded me of a its just-released home equity lending study that should be of interest to any originator or company who wants to understand that market and borrower, and how to tap into that business. (Today’s podcast can be found here and Sponsored by Total Expert, the purpose-built customer engagement platform trusted by hundreds of modern financial institutions. Total Expert turns customer data into actionable insights that help lenders engage and guide consumers through complex financial decisions. Hear an interview with BeSmartee’s Tim Nguyen on why modern mortgage lenders need configurable POS solutions that are fast, flexible, and built to adapt in any market.) Products, Services, and Software for Lenders and Brokers

6 Aug, 2025

– Florida’s median home price in Q1 2024 was approximately $410,000, a modest increase compared to 2023.
– Inventory levels are rising in many Florida markets, leading to longer selling times and increased competition.
– Staging homes can increase the selling price by up to 5%, with professionally staged homes potentially fetching even higher premiums.
– Curb appeal improvements offer a high ROI; landscaping and exterior painting can significantly impact first impressions.
– Strategic pricing is crucial; overpricing can lead to homes sitting on the market longer, while underpricing can leave money on the table. Consider a comparative market analysis (CMA) to determine optimal pricing.
– Professional photography and virtual tours are essential for attracting online buyers; listings with professional photos sell faster.
– Marketing strategies should include targeted online advertising, social media promotion, and open houses.
– Negotiation skills are paramount; be prepared to make concessions or counteroffers to close the deal.
– Working with an experienced local real estate agent can result in a higher sales price and a smoother transaction. Agents understand market trends and can advise on pricing, staging, and negotiation.
– Be prepared for inspections and appraisals; address any potential issues before listing to avoid delays or price reductions.
– Home values vary significantly by region; coastal areas and major metropolitan areas command higher prices.

6 Aug, 2025

As the MMLA event wrapped up in Michigan, a large number of people around the nation (and some from here) are gearing up to travel to (or within) California to attend the California MBA’s Western Secondary and then FAMP’s annual convention in Orlando. The number of conferences is skyrocketing. Numbers are a big part of our industry, and this morning’s MBA application data reflected what I am hearing from MLOs around the nation. (Today’s L1 2PM ET interview features veteran broker Brian Benjamin discussing what he’s seeing.) Joel Kan writes, “The refinance share of mortgage activity increased to 41.5 percent of total applications from 40.7 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 8.5 percent of total applications.” Huh? Refis approaching 50 percent, and ARMs approaching 10 percent? Lenders are certainly focusing on helping clients with refinancing out of high interest rate credit card debt, and with the yield curve heading toward a more normal shape, 5-1 and 7-1 adjustable rate products are seeing renewed interest. (Today’s podcast can be found here and Sponsored by Total Expert, the purpose-built customer engagement platform trusted by hundreds of modern financial institutions. Total Expert turns customer data into actionable insights that help lenders engage and guide consumers through complex financial decisions. Hear an interview with borrower Riley Howard on his strategy for choosing a lender.) Products, Services, and Software for Lenders and Brokers

5 Aug, 2025

Florida’s real estate market shows signs of cooling. Median home prices in some areas are decreasing, signaling a potential shift after years of rapid appreciation. Inventory is rising, providing more options for buyers and potentially reducing bidding wars. Interest rate hikes are impacting affordability and slowing down sales volume. Specific areas like Miami-Dade County are experiencing slower sales growth compared to previous years. Expert analysis suggests a move towards a more balanced market, favoring neither buyers nor sellers overwhelmingly. While prices may not crash, significant price corrections are possible in overvalued areas.

5 Aug, 2025

“An economist’s left leg is on fire, and his right leg is frozen. He says, ‘On average I’m perfectly fine.’” For those out there continuing to scratch your heads about the Bureau of Labor Statistics, non-farm payroll, Donald Trump, and economic statistics in general, here is a fine, straightforward article explaining how the numbers are calculated, revised, and can’t be manipulated. Lenders and LOs have a lot to track, and be aware of, and on today’s episode of Advisory Angle at 11am PT, STRATMOR Group’s Sue Woodard, Kris van Beever, and Garth Graham return to explore how mortgage lenders and servicers can turn strategic vision into real-world execution. From modernizing technology to managing regulatory challenges, they share practical insights on what it takes to lead in today’s servicing landscape. Meanwhile, how’s your renovation offering? The median age of owner-occupied homes is 43 years old, according to the latest data from the 2022 American Community Survey (done three years ago). The U.S. owner-occupied housing stock is aging rapidly especially after the Great Recession, as residential construction continues to fall behind in the number of new homes built. New home construction faces headwinds such as rising material costs, labor shortage, and elevated interest rates nowadays. (Today’s podcast can be found here and Sponsored by Total Expert, the purpose-built customer engagement platform trusted by hundreds of modern financial institutions. Total Expert turns customer data into actionable insights that help lenders engage and guide consumers through complex financial decisions. Hear an interview with MBA Chairman Laura Escobar on her travels around the nation, mentorship, and public speaking.)

4 Aug, 2025

* **Florida’s median home price:** Fluctuates but remains higher than the national median, often exceeding $400,000 in 2024.
* **High demand:** Driven by population growth, retirees, and international buyers, especially in coastal areas and major metropolitan areas like Miami, Orlando, and Tampa.
* **Property taxes:** Vary by county and city, averaging around 0.97% statewide. Homeowners should factor in homestead exemptions for potential savings.
* **Insurance costs:** Significantly higher than the national average due to hurricane risk, flooding, and sinkholes. Wind mitigation inspections are crucial for potential discounts.
* **Down payment:** Averages 20% for conventional mortgages, but FHA loans offer options with as little as 3.5% down for qualified buyers.
* **Mortgage pre-approval:** Essential to understand buying power and streamline the offer process.
* **Home inspection:** Strongly recommended due to Florida’s unique environmental conditions, including mold, termites, and foundation issues.
* **Closing costs:** Typically range from 2-5% of the purchase price, encompassing lender fees, title insurance, and recording fees.
* **Florida’s real estate market:** Competitive, necessitating swift action and potentially exceeding the asking price with offers.
* **Disclosure requirements:** Sellers must disclose known material defects impacting property value, including past flooding, sinkhole activity, and HOA restrictions.

4 Aug, 2025

How can we be on the waning days of summer already? Didn’t the school year just end? Here in Central Michigan at the Michigan Mortgage Lenders conference, and next week at the California MBA’s Western Secondary (with over 600 registered), an important topic is our Federal Reserve being in the crosshairs of the current president. One Federal Reserve District President resigned on Friday, rumored to be because of pressure. Is Jerome Powell right to ignore the clamoring? In the latest Thought Leadership piece, it is suggested that, “The irony is that in refusing to be the central banker everyone wants, Powell may be fulfilling the role the economy actually needs.” There is good news, however, in the abusive trigger lead front: H.R. 2808, the “Homeowners Privacy Protection Act,” is set to go before Trump. But it may not be the cure-all originators are hoping for. There are criteria (see below) so your legal team should read it before you stop advising clients to enroll in the “Do not call” list. (Today’s podcast can be found here and Sponsored by Total Expert, the purpose-built customer engagement platform trusted by hundreds of modern financial institutions. Total Expert turns customer data into actionable insights that help lenders engage and guide consumers through complex financial decisions. Hear an interview with Longbridge Financial’s Chris Mayer on HELOCs for seniors and how the mortgage industry can better serve aging homeowners.) Products, Services, and Software for Lenders and Brokers

3 Aug, 2025

Florida mortgage refinancing is influenced by national and local interest rate trends. As of late 2023/early 2024, rates remain elevated compared to pandemic lows, but forecasts suggest potential stabilization or slight decreases later in the year. Key factors influencing refinancing decisions include current mortgage rate compared to prevailing rates, homeowner’s credit score, loan-to-value (LTV) ratio, and financial goals (lower monthly payments, shorter loan term, cash-out refinance). A rule of thumb suggests refinancing if you can lower your interest rate by at least 0.5% to 1%. Florida’s housing market, with its unique insurance challenges, affects lender risk assessment and potentially refinance rates. Closing costs, typically 2-5% of the loan amount, should be factored into the break-even analysis.

2 Aug, 2025

Florida’s affordable housing crisis impacts homeownership significantly. Rising home prices, property taxes, and insurance costs contribute to the challenge.

* **Home Prices:** Florida saw significant home price appreciation in recent years, outpacing wage growth in many areas. Median home prices in some metro areas are significantly higher than the national median.
* **Wage Stagnation:** Wage growth has not kept pace with the rising cost of housing, making it difficult for low-to-moderate income families to save for a down payment and qualify for a mortgage.
* **Insurance Costs:** Florida’s property insurance market is unstable, with rising premiums impacting affordability for both homeowners and renters.
* **Limited Inventory:** A shortage of available housing units, particularly affordable options, exacerbates the problem, driving up prices and competition.
* **Property Taxes:** Florida’s property taxes, while having exemptions, can still be a significant expense for homeowners, especially in rapidly appreciating areas.
* **Impact:** A substantial percentage of Florida households are considered cost-burdened, spending more than 30% of their income on housing. This disproportionately affects minority households and those with lower incomes.
* **Potential Solutions:** Addressing the crisis requires a multi-pronged approach, including increasing housing supply, exploring financial assistance programs, promoting responsible lending practices, and addressing the insurance market instability.
* **Florida Housing Finance Corporation:** Offers programs to assist first-time homebuyers, however eligibility requirements and funding availability are factors.

1 Aug, 2025

Florida’s affordable housing crisis impacts millions, with 56% of renter households cost-burdened (paying over 30% of income on housing). The median home price in Florida is significantly higher than the national average, making homeownership inaccessible for many low-to-moderate income families. Florida Housing Finance Corporation (Florida Housing) offers programs like the Florida Hometown Heroes Loan Program providing down payment and closing cost assistance to frontline workers, up to $35,000. Another key program is the First-Time Homebuyer Program, providing below-market interest rate mortgages and down payment assistance. Sadowski Act funding, historically a significant source for affordable housing, has faced legislative challenges, with portions diverted to other priorities. Tax credits are essential, incentivizing developers to build affordable housing units; however, the demand significantly outweighs the supply. The state needs an estimated 86,000 additional affordable units. Addressing this requires multi-faceted solutions including increased funding, zoning reforms, and public-private partnerships.