BrokerIPTV Real Estate News and Videos

Alternatives to foreclosures, short sales and land trusts

Mark Eibner BrokerIPTV: Well, we are here today with Jonathan Goodman with Frascona, Joiner, Goodman, and Greenstein and as always John, it is a pleasure to have you here in BrokerIPTV.

Jonathan Goodman: Thank you Mark.

Mark Eibner: And one of the subjects I called you up to talk about... we all have heard a lot of things about foreclosures and what I am really seeing a lot of as a broker is short sale transactions or short pay off transactions and I know all the brokers have heard about them, but maybe you can explain to us really what is a short pay off from legal lingo? What is a short pay off transaction? <more>

Read more »

A New Win-Win for Title Insurance consumers

Just when the title insurance industry thought it couldn't get any worse....I have heard rumors that the Colorado Department of Insurance (DOI), is cooking up something really special to let the general public know how much (or how little) they are paying for Title Insurance. Whether you, as a real estate broker or mortgage lender, are part of an AfBA (affiliated business arrangement) Title Company or not, you could BE VERY INVOLVED in the future. < read more>

Read more »

First American Title Ships 40% of Their US Jobs Offshore-With No Reduction In Premiums

First American Corporation, one of the largest national title insurers, announced plans to spin off its financial services business. It also announced a 4th quarter loss, due mainly to costs from the California wildfires. They also announced plans to aggressively manage employee costs, and are looking to move processing jobs to counties like India and the Philippines. Chief Financial Officer Frank MacMahon said that up to 40% of their workforce may be moved offshore.

http://www.reuters.com/article/bankingFinancial/idUSBNG6641820080115

IPTV January 2008 NewsReel

Denver is 1 of Only 12 of the nations 50 Metropolitan areas have a high risk of price declines, according to the PMI Mortgage Insurance companys Winter 2008 Market Risk index. This index is based on the 3rd quarter Office of Federal Housing Oversight data, and ranks the 50 largest metropolitan areas according to the likelihood in price declines. 12 of these metropolitan areas have a 1% or less risk of price declines. Areas that had the highest price run-ups in recent years are at highest risk of price deterioration.

http://www.rockymountainnews.com/news/2008/jan/16/metro-area-home-values-likely-hold/

If you lost a home to foreclosure last year or paid mortgage insurance premiums, there is some good news. Congress enacted laws in late 2007 to allow deduction of some mortgage insurance premiums. This could amount to a tax break of up to $350. The foreclosure tax break applies to all taxpayers who were granted forgiveness of mortgage debt. Previously, this amount was fully taxable and could have run into the tens of thousands of dollars.

http://www.businessweek.com/ap/financialnews/D8U6GH5O0.htm

On the subprime mortgage crisis front, Bank of America has announced a deal where they will buy the troubled Countrywide Financial for $4.1 billion dollars. This will make Bank of America the nations largest mortgage lender and will provide much needed relief to the largest independent mortgage banker. While this acquisition is a major step in solving the mortgage meltdown, more failures and acquisitions are anticipated in the coming months.

http://www.msnbc.msn.com/id/22606833

Consumer Confidence showed a slight increase in December, according to the Conference Board. Consumers also believe that there will be more jobs in the future and that their personal incomes will be higher in the coming months. While these are bright spots, overall consumer sentiment seems to point to a slowing of the economy. The Conference Board developed and reports monthly on consumer confidence, as well as the Leading Economic Indicators report, which is expected at the end of January.

http://www.conference-board.org/economics/consumerconfidence.cfm

First American Corporation, one of the largest national title insurers, announced plans to spin off its financial services business. It also announced a 4th quarter loss, due mainly to costs from the California wildfires. They also announced plans to aggressively manage employee costs, and are looking to move processing jobs to counties like India and the Phillipines. Chief Financial Officer Frank MacMahon said that up to 40% of their workforce may be moved offshore.

http://www.reuters.com/article/bankingFinancial/idUSBNG6641820080115

In Technology news, Google has announced plans for expanding its offerings for the IPhone. Google introduced access to mail, calendars, search, and Google Reader last month and unveiled additional enhancements that allow better navigation and easier user interface, using the iPhone touch screen. Google gadgets are now available for the iPhone as well. Google is moving forward with the Android mobile platform, and phones using this platform are expected later this year.

http://www.internetnews.com/wireless/article.php/3721541

A 40 hour laptop battery? Researcher at Stanford Universitys Department of Materials Science and Engineering have found a way to give rechargeable lithium ion batteries as much as 10 times more charge. These batteries are used from everything from iPods to laptops. A patent has been filed for the technology and negotiations are ongoing with battery manufacturers. Yi Cui, assistant professor, states,

BrokerIPTV: We are on the floor here at Inman Connect in New York 2008 and I am with Travis Wright. Travis Wright is in charge of Stewart Transactions Solutions and Travis why don't you tells us a little bit about, how your SureClose product can really help say make the year 2008 a little bit better for transactions for brokers?

Travis Wright: I would be happy to, thank you Mark. Yesterday Brad Inman opening the conference was talking about the importance of transparency, the real estate transaction and we have a lot of title companies and certainly Stewart Title, but lot of real estate brokers too that are actually using SureClose to bring transparency to the transaction. SureClose is a web-based software application that allows the process of the real estate transaction and the indexing of the documents, digital documents that are required in transaction to be available password of secure availability to buyers and sellers and all the parties to the transaction. So Stewart has had transaction, I am sorry, Stewart has had the SureClose application for five years now and we have been using it internally in all of our Stewart Title offices, now we make it available real estate brokers nationally.

BrokerIPTV: Great how many brokers you think are involved with the SureClose product?

Travis Wright: Today we have approximately 200 real estate companies through out the United States are using SureClose, brokers of all size from offices of 35, 40 offices down the single office operations, we have over 800 Stewart Title offices that are using SureClose every day and in the title network process, we recently partnered with the Arizona Association of Realtors, who have a grand vision of implementing SureClose but all 5400 other brokers over the next three to four years, so yeah very exciting.

BrokerIPTV: Couple of other things Brad talked about video, he talked about social network, he talked about transparency of course, he also talked about the market. So if this was the Travis Wright show, what do you think you would be concerned or want brokers to know about in the future?

Travis Wright: Well, you know the market conditions are what they are, none of us can control the market conditions, but we can certainly control, how we conduct our business, both with our partners, our vendors and most importantly, I think with our prospects and customers. Next day business is real important to everybody right now and so with the decline in the market situation and my advice would be, make the most out of every opportunity you have with any customer, any prospect and any business partner you work with.

BrokerIPTV: Excellent Travis, thank you very much for your time.

Travis Wright: With pleasure, thank you.