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Changing the industry: 5 ideas at a time

By Inman News, Sunday, June 22, 2008.

Representatives of five startup technology companies will take the stage at the Real Estate Connect conference in San Francisco in July to share their ideas and innovations.  more...

Three years, and still no paperweight Premium Content

By Alison Rogers, Sunday, June 22, 2008.

As I write this, tomorrow is my third wedding anniversary, which loyal readers of this column will know marks a milestone, because it was around the time I got married that I stormed out of my corporate job and decided to adopt a cool real estate life. The transition from employee to freelancer opened doors I'd never expected -- including the fulfillment of a lifelong dream to write a book -- but it caused all sorts of emotional and financial turmoil, too.  more...

Seattle mortgage broker adopts U.K. model

By Jack Guttentag, Sunday, June 22, 2008.

(This is Part 2 of a two-part series. Read Part 1, "Transparency is king in U.K. mortgage system.")

Last week I noted that the pricing of mortgage broker services in the United Kingdom was much more transparent than in the United States. As a result, the U.K. system provides no leeway for brokers to price opportunistically, meaning to vary the price according to what the borrower can be persuaded to pay. In the U.S., however, opportunistic pricing is pervasive and average broker fees are much higher.  more...

Home-equity loans harder to come by

By Benny Kass, Sunday, June 22, 2008.

DEAR BENNY: My wife and I bought our first home in November of last year. We paid $600,000 for the house and put 20 percent down so the mortgage is for $480,000. I've heard that opening a line of credit on the house is a good idea in case of an emergency. Obviously our house hasn't really appreciated since then, and I think we've put less than $1,000 towards the principal. Can we take out a line of credit based on the down payment because it's technically equity? Or will the mortgage company laugh in our face? Thanks! --Chris  more...

Despite lower jumbo rates, refi may be unwise

By Dian Hymer, Sunday, June 22, 2008.

Borrowers assumed when the conforming loan limit increased from $417,000 to $729,750 in high-priced areas like New York City, Los Angeles and the San Francisco Bay Area that lower rates on jumbo financing would follow. Unfortunately, the conforming jumbos (also called jumbo lights) were initially priced considerably higher than the conventional conforming loans.  more...

Market scarred by inflation, capital exhaustion

By Lou Barnes, Sunday, June 22, 2008.

Mortgage rates have improved, down to 6.5 percent, as credit-market psychology has entered a substantial reversal.

In the mass psychosis of late May, the financial markets suddenly decided that the economy had passed bottom; the banking system was recovering; inflation had become the dominant risk; the Fed would therefore begin an extended rate-raising campaign; and it was a good idea to dump every IOU within reach. That hallucination is now responding to medication.

Nothing like hard news to clear the mind: Mortgage applications collapsed 8.8 percent in a week under the weight of spiking rates. Industrial capacity in use fell again in May, now 79.4 percent, overall production sliding 0.2 percent versus expected gain.  more...