Category Archives: News You Can Use

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NAR: Interest Rates Near 50-Year Low!

Posted on by Phil Querin

Mortgage rates have just dropped to the lowest level in almost 50 years, compelling both homeowners and home buyers to get off the couch to take advantage of record-level savings on their mortgage. “The average 30-year fixed-rate mortgage hit a record 3.29% this week, the lowest level in its nearly 50-year history,” said Sam Khater, chief economist […]

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Posted in Economic News, Lenders, Market Conditions, News You Can Use, Real Estate General, Residential Housiing | Tagged , ,

Housingwire: Mortgage rates fall to an all-time low

Posted on by Phil Querin

The average U.S. rate for a 30-year fixed mortgage dropped to 3.29% this week Go to link here.  

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Posted in Economic News, News You Can Use, Realtors, Refinancing | Tagged ,

When Does The OREF Sale Agreement Become Contractually Binding?

Posted on by Phil Querin

Introduction.  This question is important for at least two reasons: It determines the time after which neither party can withdraw from the transaction without facing legal consequences; and It determines the time from which events, such as contingencies, begin and end. Section 32 (Definitions/Instructions).  Here is what the Sale Agreement says: (8) The phrase “signed […]

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Posted in Broker Risk Management, Miscellany, News You Can Use, Oregon Law, Real Estate General, Real Estate Laws, Realtor Risk Management, Realtors, Residential Housiing | Tagged ,

Who’s Going To Review Your Preliminary Title Report Before Closing?

Posted on by Phil Querin

In residential real estate transactions, there are two basic forms of policies: The Owner’s Policy. This is the standard policy of title insurance that buyers obtain upon closing. In Oregon, customary practice is that sellers pay for this policy. The Lender’s Policy. This is the policy required by lenders when they make a residential purchase […]

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Posted in Miscellany, News You Can Use, Querin Law Legal Services, Real Estate General, Real Estate Laws, Realtors, Residential Housiing, Title Insurance | Tagged ,

Landlord Guidance Under Portland’s Additional Renter Protections

Posted on by Phil Querin

Discussion: The Portland Ordinance, 30.01.085 (“Portland Renter Additional Protections”) here, now in effect, has identified the occurrence of certain events that, if triggered, would require landlords to pay Relocation Assistance (“RA”) to tenants. [References below to the “Ordinance” will refer to 30.01.085; references to the Oregon Residential Landlord-Tenant Act, ORS Chapter 90, will be referred […]

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Posted in Landlord-Tenant Laws, Miscellany, News You Can Use, Real Estate Laws, Realtor Risk Management, Rent Control | Tagged ,

Oregon Real Estate Disputes – Litigation vs. Mediation & Arbitration (Part II)

Posted on by Phil Querin

Summary of Mediation & Arbitration under Sections 37-38.3 of the OREF Residential Real Estate Sale Agreement. The 2019 OREF forms revisions did not make any major changes[1] to the alternative dispute resolution (“ADR”) provisions of Sections 37-38.3. But before addressing the arbitration process, it is critically important for brokers and their clients to understand that […]

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Posted in Broker Risk Management, Lawsuits, Miscellany, News You Can Use, Real Estate General, Real Estate Laws, Realtor Risk Management, Residential Housiing | Tagged ,

Oregon Real Estate Disputes – Litigation vs. Mediation & Arbitration (Part I)

Posted on by Phil Querin

“Which is best? Which is fastest? Which is fairest? Which is the least expensive?” These, and many more questions have been asked over the years regarding the best method of resolving disputes. And oftentimes, the answer depends upon those you ask. So, let’s break the issue down to bite-size bits: Defining the Terms.[1]  The term […]

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Posted in Alternative Dispute Resoluton, Arbitration, Broker Risk Management, Lawsuits, Mediation, Miscellany, News You Can Use, Real Estate General, Real Estate Laws, Realtor Risk Management, Residential Housiing | Tagged ,

Market Watch: Forget the Wall Street carnage: To read the economy, look at how much Americans are eating out

Posted on by Phil Querin

Published: Oct 14, 2018 10:57 a.m. ET By JEFFRYBARTASH REPORTER **** “A good way to tell how Americans are feeling is to look at what they spend on restaurants. “Those are wants and not needs,” noted senior economist Jennifer Lee at BMO Capital Markets. Put another way, people dine out more when the economy is doing […]

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Posted in Economic News, Miscellany, News You Can Use | Tagged

Mortgage Professor: “Daily Interest: A Festering Sore in Consumer Loan Markets”

Posted on by Phil Querin

[Jack M.Guttentag is Professor of Finance Emeritus at the Wharton School of the University of Pennsylvania and author of The Mortgage Encyclopedia. Throughout his career, Professor Guttentag has been concerned with the difficulties faced by consumers in the home loan market.] Question: What do home mortgage loans including second mortgage loans, retail installment loans, automobile loans, home improvement […]

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Posted in News You Can Use, Realtor Risk Management | Tagged

Inman News: White House wants to privatize Fannie Mae and Freddie Mac

Posted on by Phil Querin

The plan is designed to reduce taxpayer risk while creating a more competitive secondary market for mortgages BY PATRICK KEARNS | Staff Writer JUN 22 The Trump administration is proposing a sweeping reform of how the federal government supports housing finance by calling for the full privatization of mortgage-backed securities giants Fannie Mae and Freddie Mac and a reduction of […]

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Posted in Miscellany, News You Can Use
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