ALTA Registry completes full mapping to MISMO Schema; Sprout resumes correspondent lending; Redfin: Are luxe buyers back? Luxury home prices rise 3.5%
A NEW PORTAL INTRODUCED BY AMERICAN LAND TITLE ASSOCIATION (ALTA), will make it much easier for mortgage lenders to integrate ALTA Registry data into their own oversight systems. ALTA announced it has completed fully mapping the land title insurance industry’s ALTA Registry data set to comply with the Mortgage Industry Standards Maintenance Organization (MISMO) Schema.
AFTER A NEARLY COMPLETE HALT OF THE NON-QM NICHE due to COVID-19 early this year, a growing number of non-qualified mortgage (non-QM) lenders are fully returning to market, among them, Sprout Mortgage. This week, Sprout Mortgage announced the resumption of its correspondent lending operations, effective immediately…
THE LUXURY HOUSING MARKET MAY BE READY TO REBOUND. According to Redfin, the median sales price for luxury home listings (defined as the top 5% of the market) rose 3.5% year over year for the 7-day period ending June 14. Redfin’s new luxury housing report shows the median sale price for luxury homes nationwide fell 2.3% year over year, to $1,099,521 in the 12 weeks ending June 14, marking one of the biggest declines since January 2015. While the short timeframe has a smaller sample size, and “is less indicative of long-term trends,” analysts wrote, the price increase indicates some luxury buyers are back in the market…
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Profiles
#NEXTraordinary People: Keosha Burns
KEOSHA BURNS IS A TOTAL EXTROVERT. SHE LOVES THE BIG CITY. Even her dog is a big city kind of guy. They found their happy place in the heart of New York City.
That is, until the pandemic hit. Now, New York City is locked down tight. So, they are taking a break down south. On March 14, Burns and her French Bulldog, Winston Charles IV, headed to Charlottesville, Virginia, to find a little breathing room, away from the pandemic. We reached her on April 9, on her cell, out in the garden, working remotely.
Like most of us she’s been living life under quarantine, far from New York, in a strange state (geographically speaking), missing the buzz of the big city.
When they are home, Winston, a 3-year old, 31-pound Frenchie, loves his walks in Marcus Garvey Park (where he’s something of a celebrity.) On good days (say, two/three months ago), they would stroll down 125thStreet near their place, past the Whole Foods, on the way to the park.
#NEXTraordinary People: Cerita Battles
CERITA BATTLES KNEW, AT 10, SHE WANTED TO BE A BANKER. That tells you something, right there. Because what 10-year old growing up in a beautiful, historic, seaside, Florida city, says her ultimate career goal is to be a banker?Olympic swimmer, maybe? Marine biologist, possibly? Lead singer in a band, or top vet at a zoo, or Mariah Carey, maybe? But banker? I don’t think so. (Or, let’s just say, it’s not likely. At 10, I mean. For me, personally, anyway.) But this, of course, is not your typical 10-year old. Not even close. Let me introduce you to Cerita J. Battles, of St. Augustine, Florida. She’s pretty much always known what she wanted in life. And today, (yes) she’s a successful banker. And I have no doubt she was one, smart, ambitious, independent-minded, 10-year old…
#NEXTraordinary People: Megan Darnell
MEGAN DARNELL: JEANS AND BARE FEET Megan Darnell is new to the mortgage business. She’s actually new to all of financial services. She never worked on Wall Street. And she didn’t hedge servicing portfolios. She wasn’t a loan officer or an underwriter. So what did she...