Michael Sachdev was recently promoted from president to chief executive officer at Snapdocs and he says his secret to success is being a lifelong learner.
The California-based company powers millions of digital closings each year by combining an open platform, patented AI technology, a settlement network, and a team of industry professionals to enable lenders and title companies to automate the process, according to a press release.
In his new role, Sachdev succeeds the company’s founder, Aaron King, who is taking on the role of executive chairman. As CEO, Sachdev will oversee all company operations and business strategy, with input and oversight from the company’s board.
Sachdev recently sat down with editor Kimberley Haas to talk about the promotion and…
By SCOTT KIMBLER
As the debate about returning to the office continues nationwide, people in the city of Atlanta and its surrounding communities are adapting to the reality that hybrid and remote work are likely here to stay.
Over six million people live in the Atlanta Metropolitan Statistical Area, which has long been a hot market for housing for a variety of reasons, including job opportunities with companies such as Delta Airlines, Coca-Cola, and UPS.
When the pandemic hit in 2020, a lot of changes happened as the region was introduced to shelter-in-place, which morphed into a work-from-home model. Now in the post-pandemic period, many companies have adopted a hybrid work schedule, with employees driving into the city about three…
By CHUCK GREEN
As Americans remain determined to climb the homeownership ladder despite affordability challenges and a lack of inventory, the link between buying a house and success is strengthening, but that may not be benefitting society or the people who have to sacrifice to compete in the current market.
Roger Valdez, director at the Center for Housing Economics, told The Mortgage Note that life in the United States has been profoundly shaped by the 30-year mortgage, and as a result, mobility and entrepreneurship have likely suffered.
“There’s been a sort of desperation to get into a home and a mortgage over the last three years. The pandemic shifted people’s work and life habits in such a way that, for…
By NICOLE MURRAY
Social media has transformed operations in every industry, including real estate. The power now lies within the hands of the consumer because they can browse through listings, educate themselves about mortgage rates, and research real estate agents before speaking with professionals.
As a result, industry leaders are using platforms like Facebook, Twitter, and TikTok to reach new clients and show off properties. Some have found success, while others complain the effort is not worth the amount of business it generates.
Mike Leipart, managing partner of the worldwide Agency Development Group, says that social media can be financially beneficial for brokers and real estate agents if it’s used well. He points out that it is a low-cost and…
By NICOLE MURRAY
During a homebuying transaction, it is required that sellers disclose a property’s physical defects to shoppers before a deal is finalized. But are there similar rules in place for sellers and their real estate agents if deaths, murders, hauntings and/or paranormal activity have knowingly occurred on the property being sold? According to Roy Condrey, founder and CEO of DiedInHouse.com, laws for these situations vary state by state but very few make it mandatory for the seller to disclose such information.
“I wish being told this type of information was a given but I’m not exactly surprised,” Condrey told The Mortgage Note. “This sensitive information can quickly transform a high-value home for sale into a stigmatized property. I’ve…
By ERIN FLYNN JAY
Mortgage loans have some risks, as do student loans. But the two don’t add up to a toxic combination that threatens to cause a price crash in the housing market, and trillions of dollars of damages for taxpayers to clean up.
A recent WSJ opinion piece by Allysia Finley claims taxpayers are standing behind trillions of dollars in risky mortgages due to the way that student loan debt is calculated during the mortgage process.
In “The Student-Debt Bubble Fueled a Housing Bubble,” Finley blamed student loan repayment plans, saying monthly payments are capped at 10% of discretionary income.
“Many student borrowers consequently aren’t paying down their debt, but it isn’t counted against them when they attempt…
By NICOLE MURRAY
The joy and satisfaction of buying a home has been diminished because of remorse for many Americans. Experts say it doesn’t have to be this way.
Due to bidding wars, rising interest rates, and a scarcity of options, in recent years homebuyers put themselves under pressure to make quick decisions about the places they now call home. So it’s not surprising that a recent survey by Clever Real Estate showed that a high percentage of people had regrets about buying in 2022 and 2023.
First-time buyers were particularly affected. 51% said the seller of their home took advantage of them and 67% said they felt pressured to submit an offer.
More than half of all the buyers…
The Mortgage Note’s team has been tracking the housing crunch as low inventory, coupled with high interest rates, creates challenges for homebuyers and mortgage professionals.
Editor Kimberley Haas interviewed industry leaders to learn more about what they are seeing and what products are being offered for this podcast.
If you would like to participate in future episodes, please email us at [email protected].
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FormFree’s Chief Customer Officer Christy Moss sat down with The Mortgage Note to talk about the company’s Residual Income Knowledge Index,…
By CHUCK GREEN
Back in 2008, Fannie Mae and Freddie Mac were in trouble. In fact, without government intervention, they faced imminent collapse, and on Sept. 6 of that year, both were placed in conservatorship by the director of the Federal Housing Finance Agency.
With those conservatorships hitting their 15th anniversary, William Emmons, an adjunct lecturer at Washington University in St. Louis, said the takeover was historically significant because they were the first large-scale government interventions in what came to be known as the Global Financial Crisis.
“In other words, their collapse was a bellwether of things to come. Lehman Brothers failed one week later, which triggered the chain reaction of collapsing banks, AIG, and market confidence,” Emmons told The…
By ERIN FLYNN JAY
Inflation has affected the housing market as higher costs of living puts more stress on the average person’s finances.
The average American household spent $709 more in July than they did two years ago to buy the same goods and services, according to Moody’s Analytics.
“High inflation of the past 2+ years has done lots of economic damage,” Mark Zandi, chief economist at Moody’s Analytics, wrote in a post on X, the platform formerly known as Twitter.
Rick Sharga, President & CEO of CJ Patrick Company, said among other things, inflation makes it harder for renters to save money for a down payment, and as home prices tend to go up over time, the amount of…
