Oper, a leading mortgage software innovator, has announced the release of a set of AI-powered product features designed to transform the underwriting and fulfillment process in the digital mortgage process.The new product aims to revolutionize the mortgage industry by streamlining the fulfillment and underwriting process.Oper’s AI-powered capabilities aim to increase accuracy and efficiency for lenders, significantly reducing manual errors and saving time.Newly introduced AI-powered capabilities provide document automation, data comparison and approval recommendations. By leveraging existing AI technology, these capabilities enable all required document validation to be completed in just minutes, instead of the average seven hours it would normally…
Author: Private Lending Agent
After years of keeping interest rates high to tame inflation, Federal Reserve officials are openly talking about the need to cut rates soon. Federal Reserve Governor Austin Goolsbee said the June Consumer Price Index showed many prices were flat or even falling, making it time for policymakers to reassess the situation.”We set this rate when inflation was over 4 percent, and now it's at 2.5 percent,” Goolsby told The Wall Street Journal in an interview. “So we've tightened it up quite a bit since we've had it there.”The Federal Reserve last raised the federal funds rate in July 2023, bringing…
According to Freddie Mac, mortgage rates averaged 6.92% in June, with interest rates on construction and development loans also rising, continuing to negatively impact homebuilder sentiment. Builder confidence in the new single-family home market fell 1 percentage point from June to 42 in July, the lowest since December 2023, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). While buyers appear to be waiting for interest rates to fall, homebuilders' six-month sales forecasts are rising, indicating that homebuilders expect mortgage rates to fall moderately later this year as inflation data shows signs of easing. While…
Author: Beyond Commercial This post originally appeared on Beyond Commercial and is republished with permission. Learn how to submit your blog on theBrokerList.Orlando's commercial real estate market is booming, but as you search for the perfect location, so too does the complexity of real estate zoning laws. Understanding these regulations is crucial for anyone considering investing in, developing, or converting commercial real estate in the area. In this article, we'll explain the basics of real estate zoning and share tips on how to effectively navigate Orlando commercial real estate zoning.What is Real Estate Zoning?Zoning laws are local regulations that govern…
The International Monetary Fund (IMF) has warned that persistently high service sector inflation could keep interest rates high for a long time.”The pace of global de-inflation is slowing, signaling difficulties ahead,” the Washington-based IMF said in its latest assessment of the world economy.”This reflects developments in different sectors. Services price inflation remains higher than average but is somewhat mitigated by strong deflation in commodity prices,” it said.Higher price growth in the services sector is linked to rising wages as workers seek “real wage catch-up” after periods of high inflation. Service-related businesses generally employ many employees, so wages tend to account…
RUMFORD, R.I. – Shamrock, operated by CMG Home Loans, has announced that sales professional Juan Cerda has rejoined the organization. Cerda led Shamrock's efforts in the Spanish-speaking homebuying community for nearly 15 years until the organization was sold to CMG late last year. Cerda returns fueled by the benefits of combining the two companies, which Cerda believes will be extremely beneficial for both clients and business partners. “This is where I'm at my best,” Cerda said, adding, “It's where my borrowers get the best treatment and my real estate agents get the best service.” As a long-time top lending partner…
Are you planning to take a loan? It is important to know that your credit score, also commonly known as your CIBIL score, impacts the interest rate that banks charge for your loan. The higher your credit score, the more likely it is that banks and financial institutions will charge you a lower interest rate for your loan.In a recent post on LinkedIn, Adhil Shetty explained the importance of maintaining a CIBIL (credit) score above 750. With the help of a detailed table of EMIs and interest rates corresponding to each CIBIL score, the BankBazaar.com CEO explained the inverse correlation…
Global inflation is expected to fall more slowly in the second half of the year, raising the prospect of interest rates “remaining elevated for longer,” the International Monetary Fund said on Tuesday.The reason is the price of services, a broad category that includes everything from housing and haircuts to restaurants and medical care.”Rising services prices are impeding deflationary momentum and complicating monetary policy normalization,” said a new IMF report released on Tuesday. “This raises the risks of rising inflation and the likelihood that interest rates will remain elevated for a longer period.”The International Monetary Fund (IMF) logo is displayed outside…
CNN, London — The International Monetary Fund warned that persistent inflation could keep interest rates higher for longer than expected, increasing fiscal and financial risks around the world. High prices for services such as haircuts, hotels and restaurants, and escalating trade tensions are pushing up inflation and raising the prospect of interest rates remaining high for the foreseeable future, the IMF warned on Tuesday in its latest World Economic Outlook. The warning highlights that the global economy has yet to stabilise when it comes to inflation and explains why central banks have been cautious in cutting interest rates, as rising…
Bob Nakal is celebrating 40 years in the New York City commercial real estate industry, brokering 2,339 real estate sales and purchases totaling more than $22 billion. Commercial Lending News features an exclusive interview in which he discusses his career accomplishments, innovative approach and outlook for the future.New York, New York, United States – July 16, 2024 — Commercial Lending News is pleased to announce the release of an exclusive interview with Bob Nakal in celebration of his 40th anniversary as a leading investment sales broker in the New York City commercial real estate market.Last week, Nakal completed his 2,339th…