National mortgage lender, NewRez is offering loan originators an innovative social media training program.

The aim is to deliver leadership and social media training that helps loan officers understand how to better connect with clients in a digital world—and in the process gain a competitive advantage. New Rez has retained Cultural Outreach to train originators on developing content, such as infographics, videos, and social-media posts that resonate with first-time home buyers.

The lender is one of only a few mortgage lenders nationwide to offer this program to its loan professionals. NewRez was formerly New Penn Financial.

 

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[caption id="attachment_10589" align="alignleft" width="300"] Gerard McGeever[/caption]

"We know that in order to be competitive in today's marketplace, we have to understand the nuances of millennial consumers and how to be active and compliant in the fast-changing environment of social media,” said Gerard McGeever, vice president of marketing JV/Retail and TPO for New Rez. “That's why we partnered with Cultural Outreach to empower our loan officers with the content and training to be successful."

With 75 percent of household growth coming from multicultural families and 33 percent of home purchases being made by millennials, now is the perfect time to focus on these markets for an opportunity to build new and lasting relationships.

The training program was designed to provide mortgage originators with access to content that is relevant and engaging for borrowers.

“Content is the driving force behind building a strong online presence,” said Kristin Messerli, founder of Cultural Outreach. “We understand how overwhelming it can feel to keep up with the demand for content, so our team of experts have tapped into an impactful strategy that empowers loan [originators] to use storytelling and new media to build an authentic personal brand without taking significant time away from their work.”

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Pending home sales rebounded strongly in January, according to the National Association of Realtors. All four major regions saw growth last month, with the largest increase occurring in the South.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, increased 4.6 percent to 103.2 in January, up from 98.7 in December. Year-over-year contract signings, however, declined 2.3 percent, making this the 13^th consecutive month of annual decreases.

[caption id="attachment_9286" align="alignleft" width="214"] NAR Chief Economist, Lawrence Yun[/caption]

"A change in Federal Reserve policy and the reopening of the government were very beneficial to the market," said Lawrence Yun, NAR chief economist, who had expected an increase in January home sales..

Of the four major regions, three areas experienced a decline compared to one year ago, while the Northeast enjoyed a slight growth spurt. Also, Yun said higher rates discouraged many would-be buyers in 2018. "Homebuyers are now returning and taking advantage of lower interest rates, while a boost in inventory is also providing more choices for consumers."

Among the areas with the largest inventory boosts are: Denver-Aurora-Lakewood, Colo., Seattle-Tacoma-Bellevue, Wash., San Diego-Carlsbad, Calif., Los Angeles-Long Beach-Anaheim, and Nashville-Davidson-Murfreesboro-Franklin, Tenn., saw the largest increase in active listings in January compared to a year ago.

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Yun says positive pending home sales figures in January will likely continue. "Income is rising faster than home prices in many areas and mortgage rates look to remain steady. Furthermore, job creation will help lift home buying."

In 2019, Yun forecasts for existing-home sales to be around 5.28 million, down 1.1 percent from 2018, 5.34 million. The national median existing-home price this year is expected to increase around 2.2 percent. In 2018, existing sales declined 3.1 percent and prices rose 4.9 percent.

The PHSI in the Northeast rose 1.6 percent to 94.0 in January and is now 7.6 percent above a year ago. In the Midwest, the index rose 2.8 percent to 100.2 in January, 0.3 percent lower than January 2018.

Pending home sales in the South jumped 8.9 percent to an index of 119.8 in January, which is 3.1 percent lower than this time last year. The index in the West increased 0.3 percent in January to 87.3 and fell 10.1 percent below a year ago.

 

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Cottonwood Title Insurance Agency Inc., one of the largest independent title agencies in Utah, has inked a deal for SafeWire, a platform designed to protect the wire transactions facilitated by agents in North-Central Utah.

SafeChain, which specializes in wire-fraud prevention software and blockchain implementation for the land title industry, developed SafeWire.

“At Cottonwood Title, we pride ourselves on our speed, accuracy and ability to close transactions on schedule, but equally as important to us is ensuring that our clients’ funds do not fall into the wrong hands,” said Cort Ashton, vice president of escrow at Cottonwood Title. “SafeWire provides our customers with peace of mind in knowing their wire transactions are protected without impacting the excellent service our customers and partners expect.”

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Leveraging both bank-grade authentication and blockchain technology, SafeWire uses this technology to prevent fraudsters from interfering with real-estate-wire transactions. Through the platform, title agents can verify the identities of the buyer and seller, as well as store and transmit in a secure fashion wiring instruction to prevent fraudsters from intercepting and tampering with this information.

In addition, title agents can authenticate ownership of bank accounts to ensure funds are being sent to and received by authorized parties

“The pace at which real estate wire fraud is increasing has far outstripped the industry’s ability to address the issue through traditional means,” said Tony Franco, CEO and co-founder of SafeChain.

 

 

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