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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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FHFA issues notice of potential changes to Suspended Counterparty Program

The Federal Housing Finance Agency (FHFA) on Friday issued a notice of proposed rulemaking that would amend its Suspended Counterparty Program (SCP) to include additional forms of misconduct as a basis for keeping regulated entities from doing business with organizations

Michael Gersitz July 8, 2023 External Articles Read more

Will labor data send mortgage rates to 8%?

The 10-year yield and mortgage rates have been rising close to the 2023 high as some labor data shows that the honey badger labor market is still growing. To make things even more complicated, the spreads between the 30-year mortgage

Michael Gersitz July 8, 2023 External Articles Read more

HAF funds have kept 300,000 people in their homes: U.S. Treasury

The Homeowners Assistance Fund (HAF) — a program designed to offer financial help to homeowners impacted by the COVID-19 pandemic — has kept more than 300,000 homeowners in their homes by curing defaults and keeping them out of foreclosure, according

Michael Gersitz July 8, 2023 External Articles Read more

What does the fix-and-flip market look like right now?

The fix-and-flip market has seen a boom in recent years, with more than 407,000 homes flipped in 2022, a 14% increase from 2021 and a 58% increase from 2020, according to a recent report by real estate data firm ATTOM.

Michael Gersitz July 8, 2023 External Articles Read more

Nationwide Property and Appraisal Services acquires Integrity Appraisal Management

Nationwide Property and Appraisal Services LLC (NPAS), led by Sri Velamati and one of the largest appraisal management companies in the U.S., announced that it has acquired Integrity Appraisal Management (Integrity), a regional AMC based in Houston, TX.  The acquisition

Michael Gersitz July 8, 2023 External Articles Read more

Consumers may be coming to terms with elevated rates and high home prices: Fannie Mae

Consumer confidence in housing may have plateaued, according to the latest home purchase sentiment index (HPSI) by Fannie Mae. The HPSI — which tracks the housing market and consumer confidence to sell or buy a home — rose a mere

Michael Gersitz July 8, 2023 External Articles Read more

Job gains slow in June, but are probably still too hot to sway the Fed

The labor market is moderating gracefully, but conditions remain too hot for the Fed’s liking. Job gains were relatively solid yet again in June, with total nonfarm payroll employment reaching 209,000 jobs, compared to 339,000 in May, according to data

Michael Gersitz July 8, 2023 External Articles Read more

Better.com posts $90M net loss in Q1 2023

Digital mortgage lender Better.com disclosed that it posted a net loss of $89.9 million in the first quarter of 2023 and cut approximately 91% of its workforce over an approximately 18-month period — due in large part to a substantial

Michael Gersitz July 8, 2023 External Articles Read more

Fannie Mae and Freddie Mac update condo, co-op policy guidance

Government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac released updates on Wednesday related to condominium and co-operative project standards policies for properties in need of critical repairs and special assessments. “At the direction of the FHFA, Fannie Mae and Freddie

Michael Gersitz July 8, 2023 External Articles Read more

Mortgage rates reach their 2023 peak

Mortgage rates jumped this week as investors grapple with persistent positive economic data and a hawkish Fed.  The Freddie Mac’s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed

Michael Gersitz July 8, 2023 External Articles Read more

Improving your bottom line at HW Annual

In this tight market cycle, strategic operational decisions can be the difference between success and failure. An aligned team of operational leaders can transition your business into the future, but first, you need the tools to get there. How are

Michael Gersitz June 8, 2023 External Articles Read more

Survey: High mortgage rates are keeping many Americans from buying a home

Homebuyers these days are facing much higher costs of ownership compared to a year ago, pushing most to the sidelines. Mortgage rates and home prices are high and inventory is paltry, resulting in a largely frozen housing market. Nearly two-thirds of

Michael Gersitz June 8, 2023 External Articles Read more

NAMB publicly supports proposal to reinstate prior LLPA structure

The National Association of Mortgage Brokers (NAMB) declared its support this week for a bill introduced by Republicans in the U.S. House of Representatives that would reinstate the Loan Level Price Adjustment (LLPA) structure that was in place prior to

Michael Gersitz June 8, 2023 External Articles Read more

The AOL debate rages on

Fannie Mae dropped a bomb on the title insurance industry in April 2022, when it adjusted its selling guide to allow the purchase of loans using attorney opinion letters (AOLs). In the ensuing 15 months, discussion over the risks and

Michael Gersitz June 8, 2023 External Articles Read more

Home equity levels decline 0.7% year over year: CoreLogic

Home equity levels have been on the decline over the last year, new data shows. Homeowners with mortgage loans saw their home equity levels decline by an average of 0.7% between the Q1 2022 and Q1 2023, the first decline

Michael Gersitz June 8, 2023 External Articles Read more

Mortgage rates decline following debt ceiling deal 

The U.S. debt ceiling impasse was solved when President Joe Biden signed a bill on Saturday to suspend the $31.4 trillion limit until January 2025 and cap government spending. It alleviated some pressure on mortgage rates, which declined over the

Michael Gersitz June 8, 2023 External Articles Read more

Is the sinking housing market finally at the bottom?

It’s been a brutal 15-month period for the housing market since the Federal Reserve began escalating its benchmark interest rate in March 2022 to combat rising inflation.  Since then, the Fed has bumped rates 10 times, effectively putting the brakes on what

Michael Gersitz June 8, 2023 External Articles Read more

Encompass by ICE Mortgage Technology delivers an all-in-one workflow for omnichannel lenders

It’s important for today’s lenders to be as agile, efficient and scalable as possible to adapt to consumer preferences and fast-changing market conditions. Encompass by ICE Mortgage Technology is the industry’s most complete end-to-end solution that provides the flexibility and

Michael Gersitz June 8, 2023 External Articles Read more

For the title industry, new tech means new opportunities for fraudsters

The title insurance industry is on the front lines in a never-ending war with the fraudsters. As the industry has gotten better at combatting wire fraud and even the more recent seller impersonation fraud, criminals looking for larger paydays have

Michael Gersitz June 8, 2023 External Articles Read more

Median income earners can only afford 25% of current listings

It is no secret that housing inventory is low. As of June 2, there were 433,104 single family homes on the market nationwide, according to data from Altos Research. And while this situation is certainly far from ideal, according to

Michael Gersitz June 8, 2023 External Articles Read more

Mr. Cooper to acquire Home Point Capital for $324M in cash

Dallas, Texas-based Mr. Cooper Group has entered into an agreement to acquire struggling Home Point Capital for $324 million in cash, the companies announced on Wednesday. The transaction will ultimately result in the seller shutting down operations.  Rumors that Mr.

Michael Gersitz May 11, 2023 External Articles Read more

CPI report is good news for mortgage rates

The massive inflation and double-digit mortgage rates of the 1970s and early 1980s seem to haunt the Federal Reserve, which wants to cool the economy and even provoke a job-loss recession to avoid that scenario. But the latest Consumer Price

Michael Gersitz May 11, 2023 External Articles Read more

Flueid integrates with Encompass to fuel loan originations

Flueid, a leading technology company specializing in real estate transactions, announced on Thursday the integration of its patented Flueid Decision platform with Encompass by ICE Mortgage Technology. This integration allows lenders to access Flueid’s title data and insights during the

Michael Gersitz May 11, 2023 External Articles Read more

Clear Capital expands its partnership with ValueLink

Real estate valuation technology company Clear Capital announced on Wednesday that it has expanded its partnership with ValueLink, a valuation management platform, to offer better support for appraisal modernization policy changes. Through this expansion, ValueLink customers can now access Clear

Michael Gersitz May 11, 2023 External Articles Read more
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  • Michael Gersitz
  • Phone: (716)870-5786
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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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