Photo credit: mlhradio / Foter / Creative Commons Attribution-NonCommercial 2.0 Generic (CC BY-NC 2.0) Home flipping enjoyed a significant increase in profits in 2013, compared to the previous year. 77% of homes, which were resold 12 months later were sold for a gain. According to Redfin, last year houses were flipped for $90,200 read more »
Photo credit: Images_of_Money / Foter / Creative Commons Attribution 2.0 Generic (CC BY 2.0) The growth in US housing recovery has come to an end. MBA reports show a drastic depreciation in their 2014 growth forecast. The Mortgage Bankers Association (MBA) lowered their forecast for combined new and existing home sales in 2014 to $5.28 read more »
Connecticut mortgage brokers, lenders and originators must abide by a revised bond amount requirement. The new bill is titled SB 1110 and modifies the current licensing laws for mortgage lenders, brokers and originators. Previous legislation required a minimum $40,000 surety bond. SB 1110 requires the bond amount to mirror the licensee’s loan origination volume. The read more »
The world of surety seems to be doing just fine amidst the down economy. There are still a lot of construction jobs available and many bonds to be written; but could the healthy appearance of the surety industry be somewhat of an illusion?
Perspective homeowners know understanding homeownership lingo can be an all-consuming job in itself. Buyers have to navigate through terms such as FHA, escrow and adjustable rate mortgages, on top of finding their dream home. While many choose to lead the effort on their own, some prefer to have professional guidance through a mortgage broker. However, read more »
Legislatures in Texas have enacted a new law directly affecting the surety bond industry. When one looks at the changes included in the bill, it’s hard to see what it actually accomplishes; it raises the question of whether the legislators writing laws affecting the world of surety have adequate knowledge of the industry.