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Michael Gersitz

Michael Gersitz

City of North Tonawanda Real Estate Agent

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housing wire

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CFPB to be lenient on enforcing changes from 2020 HMDA Final Rule 

The Consumer Financial Protection Bureau stated on Tuesday that it will be lenient when enforcing changes made in the 2020 Home Mortgage Disclosure Act Final Rule on the closed-end loan reporting threshold.  On September 23, 2020, the U.S. District Court

Michael Gersitz December 8, 2022 External Articles Read more

HW Media acquires Altos Research to expand access to real-time housing data

HW Media, publisher of HousingWire, RealTrends and Reverse Mortgage Daily, announced today that it has closed on the strategic acquisition of Altos Research, the premier resource for real-time real estate data, providing weekly market statistics, analysis and reporting for 99%

Michael Gersitz December 8, 2022 External Articles Read more

Lower mortgage rates are stabilizing the housing market

Since the weaker CPI data was released in November, bond yields and mortgage rates have been heading lower. The question then was: What would lower mortgage rates do to this data? Now, with five weeks of data in front of

Michael Gersitz December 8, 2022 External Articles Read more

Doma cuts workforce by 40% as part of its ‘reduction plan’

As the housing market continues to slow, Doma is the latest industry firm to undergo layoffs. In a Securities and Exchange Commission filing from December 2 and posted on December 6, the title insurer announced that it was eliminating 515

Michael Gersitz December 8, 2022 External Articles Read more

After margin call, EPM stopped paying Jesse Iwuji Motorsports sponsorship: lawsuit

Stock car racing team Jesse Iwuji Motorsports (JIM) this week filed a lawsuit against Atlanta-based mortgage lender Equity Prime Mortgage (EPM) for allegedly failing to make more than $4 million in sponsorship payments after the company received a margin call

Michael Gersitz December 8, 2022 External Articles Read more

Broker group calls on FHFA to spike upcoming cash-out refi fee

The chorus of mortgage brokers who are calling on the Federal Housing Finance Agency (FHFA) to remove a targeted cash-out refinance fee is growing louder. The National Association of Mortgage Brokers wants the housing regulator to consider removing the loan

Michael Gersitz December 8, 2022 External Articles Read more

Fannie Mae changes underwriting to help ‘credit invisible’ borrowers

Fannie Mae announced on Tuesday that it will make changes to its automated underwriting system in order to expand mortgage loan eligibility and simplify the loan process for underserved borrowers without credit scores. The enhancements are slated to roll out

Michael Gersitz December 8, 2022 External Articles Read more

LOs, mortgage rates and the long, cold winter ahead

Industry analysts say they expect loan volume to remain depressed for at least the next two quarters, meaning it will be a long winter for loan originators. The recent declines in mortgage rates brought a glimmer of hope that borrowers

Michael Gersitz December 8, 2022 External Articles Read more

Path Software launches new TPO capability

Calyx has developed a new third-party origination (TPO) functionality for Path Software called Path TPO, the company announced Tuesday. The new capability, which is cloud-based, can be accessed through and integrates with a client’s existing Path platform. In a release,

Michael Gersitz December 8, 2022 External Articles Read more

How LOs get into a real estate agent’s circle

To get into an agent’s circle, an LO has to see problems before they manifest they need to communicate whether the news is good, bad or ugly, agents said. Becca Summers does not typically include Wells Fargo on the lender

Michael Gersitz December 8, 2022 External Articles Read more

Here’s why new home sales are up along with prices

Today new home sales beat estimates, and new home median sales prices hit an all-time high. What is going on here? My job is always to be the detective, not the troll so let’s take a look at today’s data,

Michael Gersitz November 25, 2022 External Articles Read more

Buydowns become key for buyers to beat the market

It’s a terrible time for homebuyers. Mortgage rates for a 30-year fixed-rate loan are hovering around 7% levels and still-high home prices are slashing purchasing power. What helped Erica Davis, a loan originator at Guild Mortgage, in the current high-rate

Michael Gersitz November 25, 2022 External Articles Read more

New home sales continued to yo-yo in October

Homebuilders must be feeling some whiplash, as new single-family home sales continued to yo-yo in October. After rebounding in August from a drop in July only to fall again in September, new home sales were back up in October, according

Michael Gersitz November 25, 2022 External Articles Read more

Nonbank lender job cuts could shorten the market downturn

The current market downturn for mortgage lenders may be shorter than the previous cycles, mainly due to the recent rounds of workforce layoffs imposed by nonbanks. “While it is true that many nonbanks entered this downturn with a large war

Michael Gersitz November 25, 2022 External Articles Read more

Mortgage rates dropped again, so why are some borrowers on the sidelines?

Recent declines in mortgage rates, which are due to a slowdown in inflation growth, have been enough to convince some borrowers to apply for new home loans, according to recent data on mortgage applications.  However, there are still forces pushing

Michael Gersitz November 25, 2022 External Articles Read more

How to communicate rate changes to borrowers

Mortgage rates are changing every day – and those changes can have big effects on borrowers. Over the last year, it seems that most of those changes have taken an upward trajectory, but there are times that monitoring mortgage rates

Michael Gersitz November 25, 2022 External Articles Read more

Demand for mortgages is on the rise as rates fall

With mortgage rates down nearly 50 basis points from the recent peak about a month ago, borrower demand picked up again this week, according to the Mortgage Bankers Association (MBA). The market composite index, a measure of mortgage loan application volume, rose

Michael Gersitz November 25, 2022 External Articles Read more

Prepayment activity drops to another record low as mortgage rates top 7%

Prepayment activity fell to another record low in October amid mortgage rates topping 7% and refis drying up. Black Knight expects that the steep declines in rate lock volume and seasonality factors point to further declines in prepayment activity. Prepayment

Michael Gersitz November 25, 2022 External Articles Read more

Marcia Fudge will be the first sitting HUD secretary to visit Japan

U.S. Department of Housing and Urban Development (HUD) Secretary Marcia Fudge will be the first sitting HUD secretary to visit Japan when she arrives in Tokyo next week. According to an announcement, Tokyo’s Governor Yuriko Koike will hold a joint

Michael Gersitz November 25, 2022 External Articles Read more

Inside Movement Mortgage’s acquisition plans

Movement Mortgage CEO Casey Crawford and President Mike Brennan. Movement Mortgage’s deal to acquire top indie retail lender Mortgage Network marks a shift in the South Carolina-based company’s strategy. “Over the years, we’ve been more focused on organic growth, one

Michael Gersitz November 25, 2022 External Articles Read more

Days on market grow despite low inventory for existing homes

The National Association of Realtors (NAR) reported today on two trends in existing home sales that we have seen for many months now: sales are declining while total inventory data has fallen directly for the three straight months. On a

Michael Gersitz November 20, 2022 External Articles Read more

Black Knight to sell TitlePoint back to Fidelity for $225M

Black Knight agreed to sell its TitlePoint business unit to former parent company Fidelity National Financial for $225 million in cash. A sale of TitlePoint is expected ahead of Black Knight’s planned blockbuster acquisition by Intercontinental Exchange, Inc.  TitlePoint enables

Michael Gersitz November 20, 2022 External Articles Read more

Proptech company Rhino acquires Desposify to transform deposit platform

Proptech firm Rhino will be buying the technology and assets of Deposify, a cash security deposit management technology platform, to launch an end-to-end deposit management and compliance platform. The platform, which is planned to launch after the transaction closes this

Michael Gersitz November 20, 2022 External Articles Read more

Housing industry continues to shed employees in economic downturn

Don’t be fooled by last week’s mortgage rate collapse.  A combination of elevated mortgage rates, sluggish home sales and inflation continue to plague the housing market workforce, with numerous mortgage lenders and real estate startups shedding employees. “The U.S. housing

Michael Gersitz November 20, 2022 External Articles Read more
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About Me

I am a Real Estate Agent based out of Tonawanda, licensed to buy, sell and lease real estate in New York State! Give me a call, it might be the best decision you ever make!


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