Matt Rasetta, the owner of Superior Rate Mortgage of New England, was sitting on his couch at 11:30 p.m. on Aug. 12, a Wednesday night, watching TV when he got a text from one of his loan officers alerting him to the news of the new adverse-market fee.

Realtor.com will display flood score data across its 110 million listings this week. But don't expect Zillow or Redfin to follow suit.

Ready to Help: C.A.R. Disaster Relief Fund

Housing assistance grants are available to those who have lost their home due to wildfires.  Thanks to generous contributions from C.A.R., state and local REALTOR® associations and other contributors, grants are available for REALTORS®, employees of REALTORS® and association staff directly affected by the fires.  Please help us continue our efforts by making a tax-deductible contribution to the CALIFORNIA ASSOCIATION OF REALTORS'® Disaster Relief Fund.

SBA to Offering Assistance to California Businesses Residents Affected by Wildfires

In consideration of the public health concerns due to the coronavirus pandemic, the Small Business Administration has established a Virtual Business Recovery Center to provide personalized assistance to business owners. In addition, SBA will also open a Virtual Disaster Loan Outreach Center to help homeowners and renters.

These services are only available for the California disaster declaration as a result of the wildfires that began Aug. 14, 2020, and not for COVID-19 related assistance.

Realtor.com Helps Homebuyers Understand A Property’s Flood Risk

To help consumers better understand flood risk and take necessary precautions, realtor.com now includes flood risk information on for-sale and off-market properties. Properties now display a Flood Factor™ from First Street Foundation, a nonprofit research and technology group, which is a score between one and 10 that represents its cumulative risk of flooding over a 30-year mortgage. Properties also display their FEMA Flood Zone, providing realtor.com® users with a comprehensive understanding of their flood risk.

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Update on Coronavirus Market Impacts

Buyer demand remains the bright spot in the housing market as low interest rates and a slowly healing economy combines with greater flexibility on where to live and the renewed importance of housing to strain a limited supply of homes. However, that dearth of inventory is expected to begin to weigh more heavily on closed transactions as we enter the winter and lead to a greater erosion in housing affordability that will prevent many would-be homeowners from taking advantage of historically low interest rates. As such, it is important to remind sellers about conditions on the ground to generate an increase in much-needed listings: prices are rising, homes are selling fast, and they’re near full asking price.

All California REALTORS® are meeting up online in October.

What about you?

Teamwork Makes the Dreamwork Event Recording Now Available

If you missed yesterday’s teams panel with three top-producing team leaders, you’re in luck because the recording is now available for you to watch on demand. Whether you’re leading a team, on a team or considering joining a team, there are key takeaways for you and your business.

Quickly Get Inspection Repair Cost Estimates

Clearing the inspection contingency can be a time-consuming task for agents. Porch, the newest partner to join C.A.R. Business Products, helps agents obtain accurate cost estimates for every home inspection report defect within 1-2 days using the Repair Estimate Report. Agents who use this service report they are closing faster and avoiding lengthy wait times for quotes. Take control of your clients’ inspection reports save 20% for being a C.A.R. member.

C.A.R. Statement on Delay of New FHFHA Refinance Fee

C.A.R. issued a statement regarding the Federal Housing Finance Agency’s (FHFA) announcement to delay the implementation of a new fee on the loan amount for the majority of Fannie Mae and Freddie Mac refinance loans.

The FHFA planned to implement a new 0.5% fee on the loan amount for the majority of Fannie Mae and Freddie Mac refinance loans.

CAREB 65th Anniversary Virtual Conference "Be The Change"

Get Tickets

The Federal Housing Finance Agency announced Tuesday it is extending the date it will begin implementing its adverse market refinance fee to Dec. 1.

HousingWire covers a survey that indicates the nation’s economists now believe America is likely to experience a double dip recession.

Mortgage lending this year likely will total $3.4 trillion, about $1 trillion higher than 2019, as low rates boost refinancings, Fannie Mae said in a forecast.

The Housing Credit Connected On-Demand Package Is a Must

Did you miss the live event or a particular session? You can access that valuable content with an On Demand package ― more than 10 hours of session recordings, available at your fingertips and convenience. Hear from senior IRS and HUD officials, state agency staff, and industry leaders on COVID-19’s impact on Housing Credit investment, development, compliance, and policy.

Questions? Contact registration@ncsha.org.

Attendee feedback about Housing Credit Connected 2020 was overwhelming positive.

“It was great to hear how other agencies are handling compliance during the pandemic.”

“Sessions were short and quick hitting.”

“The balance of hearing from states and hearing from other industry professionals ensured a wide range of perspectives.”

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