Coest2Coest – Week of 10.3.2018 -No More Open Houses – 2nd Appraisals on FHA on HECM’s

October 3rd, 2018

Image result for virtual reality house tour

“Artificial intelligence would be the ultimate version of Google. The ultimate search engine that would understand everything on the web. It would understand exactly what you wanted, and it would give you the right thing. We’re nowhere near doing that now. However, we can get incrementally closer to that, and that is basically what we work on.” —Larry Pa

Real Estate:

Digital Trends: Virtual Reality Technology helping Real Estate Agents sell homes.

  • 47% of millennials made an offer sight unseen on a home in 2017.
  • Coldwell Banker called 3,000 adults, and 84% wanted to see a virtual tour of the house before seeing it in person.
  • Virtual Reality and video tours of properties are becoming expected.
  • ReMax is starting to promote open houses on Facebook LIVE and the use of others platforms.

See Venture Beat Article: 

“AR cloud technologies enable us to digitally stage a property for many different types of buyers. For example, the visual narrative told to a young couple with a newborn could have 3D assets of a crib and toys spread around in the baby’s room. The pantry could be stocked with digital assets of baby formula and the yard could have a swing set and playground. However, the narrative told to a young bachelor could focus more on entertainment: the den can be digitally staged with a big screen TV and gaming systems, and the yard staged with a top end grill and cases of beer. Due to new AR persistence capabilities, these digital assets can be placed once and then remain in spot for realtors to easily load when giving tours to different types of buyers.”

How Virtual Reality will affect the Real Estate Industry 

Virtual reality and 3D Modeling is here for real estate, and the millennials are using it more than ever to purchase homes. Using companies like to make a digital version of the house is becoming a most for real estate agents wanting to compete in today’s digital world. They also are using social media sites like Facebook, Instagram and Youtube to broadcast LIVE versions of the Open House and attract buyers who may not be up for coming to tour the properties.

FHA Requiring 2nd  Appraisals on some HECM Loans:

The Federal Housing Administration announced on Friday that they will now require a second appraisal on reverse mortgage appraisals if they believe the initial figure has been inflated. Starting October 1st, FHA will perform a collateral risk assessment on all reverse mortgage appraisals to make the determination.

“The mortgagee must not approve or close a HECM before FHA has performed the collateral risk assessment and, if required, a second appraisal is obtained,” the administration wrote in Mortgagee Letter 2018-06. “Where a second appraisal is required by FHA and provides a lower value, the mortgagee must use the lower value of the two appraisals in originating the HECM.”

Please click on the link below to view the full article:

Click here to see the full article

America’s Best Small Cities to Move to Before they Get Popular:

The best small towns to visit in America are easy to commit to for a weekend. It doesn’t take much to fall in love with Main Street; all you need is a couple of friends, a shaded porch, a six-pack of pale ale, and nothing but time to kill for you to think, “Hmm, I could get used to this.”

Read Full Article

Appraisal waiver offers excluded for 18 North Carolina counties

The Federal Emergency Management Agency (FEMA) has declared individual assistance for 18 counties in North Carolina affected by Hurricane Florence. By Selling Guide policy, these counties have been added to our appraisal waiver exclusion list in DU. For a list of the affected counties, visit FEMA’s Hurricane Florence page. For more information about Fannie Mae appraisal waivers, visit our Appraisal Waivers and Assistance in Disasters pages.

New Appraiser Update

Want to know more about MH Advantage™? The latest Fannie Mae Appraiser Update provides tips for appraising MH Advantage homes, information about a revised policy for manufactured homes with additions, and updates on our condo project standards. Also in this issue, find out what topics we hear about from readers. Sign up to receive future newsletter notifications and other appraisal-related updates!

Around the Web:

1. Alexa is getting smarter and emotional.
Amazon is making Alexa more sensitive to emotions and more alert for trouble, including a smoke alarm or breaking glass. The new feature, called Alexa Guard, will also be able to detect frustration in a person’s voice, making Alexa a lot smarter and emotional. (

2. The world’s first autonomous tram is launched in Germany.
The city of Potsdam has launched a world’s first: a fully autonomous tram. Trams often operate in high-pedestrian areas, where everything can happen. So, an AI-driven tram, developed by Siemens, is a remarkable achievement. (
The Guardian)

3. Japan landed two rovers on an Astroid and took a selfie.
Japan’s Hayabusa2 spacecraft has managed to deploy two landers on an astroid’s surface and while doing so, took an awesome selfie, sort of. The rocket made a picture of its own shadow on the object’s surface. (Gizmodo)

Thank you,



Big Opportunity – Get Your .RealEstate Domain Soon – Local Marketing – SEO

September 21st, 2018

Attention all Real Estate Professionals! Get your .Real Estate Domain NOW!

Please visit to secure your .realestate domain

The National Association of Realtors® has recently launched a new top-level domain, .realestate. The new domain extension became available September 18th for members of NAR, with a November 27th release to the general public.

Please visit for instructions on how to register your domain.

The .realestate web addresses will be free of restrictions from NAR affiliation and will allow real estate entities and professionals to creatively market properties, geographic areas served, or their brands and specialties. The domain leverages real estate as a descriptive and internationally known term.

4 Tips in choosing and registering your domain:

1. Use the name of your town – Having or go directly to your personal site is the win for a real estate professionals trying to carve out a special niche in a particular market segment.

2. Avoid Numbers and Symbols –  Numbers and symbols are confusing and remembering to type a 1 or ONE is something that can make it more confusing for potential prospects to access your site.

3. Something Easy to Spell –  The easier to spell the better. If having a choice between or go with the name easier to spell. Usually, you can reference a known area with multiple names. Choosing the easier to spell and more commonly used word that will give you the same effect but more access.

4. Memorable –  Thinking of something memorable that is specific to your area or shows you truly understand that market is something that will help sperate you. If you were selling homes in San Francisco, you could have or if you were trying to appeal to the local crowd. If you want to specialize in a particular area or serve a specific market using that as the lead.

For more information on the launch of the .realestate domain, visit

The National Association of Realtors® is America’s largest trade association, representing 1.3 million members involved in all aspects of the residential and commercial real estate industries. 

Thank you,


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Week of 9.20.2018 – North Carolina Hurricane Aftermath – Carson Plans for Housing – Amazon Headquarters DC? – United Wholesale #1

September 20th, 2018
Carl Jung Quote - Coester Brian
 “Everything that irritates us about others can lead us to an understanding of ourselves.” Carl Jung

Carl Jung writes that “it is a common pratice of projecting ourselves onto others. We both partake in the illusion of moral perfection and justify righteous warfare by any means against others”. Jung continues that “most people are content to be self-righteous and prefer mutual vilification (if nothing worse!) to the recognition of their projections”. We live in a a world split apart on fundamental questions, such as the nature of men and women, the potential justification of abortion and borders, sexual misconduct, gender neturality and topics on which you are certain to never reach consensus or a resolution rather then recongizing this we isolate it and create interpersonal and even global issues.

This projection is also onto political opponents. In international affairs – my own country can do no wrong, it is rather the Russians pulling strings, or the threat of nations like North Korea and Iran. Jung writes that a person who denies their shadow will “change the world into a replica of one’s own unknown face.” The evil that you are capable of, denied, becomes the responsibility exclusively of others. Public thinking becomes little more than a command on others to ally themselves with you, as both George W. Bush and radical interjectionally must believe, “You are either with us or against us.”

Finish Reading Culture War

Quote I’m pondering — “Gardening is not outcome-oriented. A successful harvest is not the end of a gardener’s existence, but only a phase of it. As any gardener knows, the vitality of a garden does not end with the harvest. It simply takes another form. Gardens do not ‘die’ in the winter but quietly prepare for another season.” James P. CarseFinite and Infinite Games

My Humility Journey:

At times as a young leader I felt obligated to talk farther than I had walked. I didn’t feel wise enough, strong enough, mature enough, competent enough, confident enough or qualified enough. It was at that time that my deficiencies humbled me and I discovered that God was more than enough. To succeed I needed to be humble before God and authentic with people. I had to be willing to admit wrong and weakness so I could grow and change.

This is what I discovered about myself. My journey from “here to there” was lonely. The reason? I was willing to be wrong and admit wrong so I could grow and change. Growth is a result of bad habits dropped, wrong priorities changed, and new ways of thinking embraced.

It happens only when we question ourselves enough to ask serious questions from others. The people who do not grow are unwilling to ask themselves or others hard questions. They are unwilling to leave what they have known and practiced. They are not willing to be wrong so they can discover what is right!

Therefore, they cling to “right” and their lives turn out wrong. How sad …surrender of being right enables us to ask questions that others can answer and add value to our lives. Surrender of being right is a prerequisite to finding right.

Real Estate News:

Mortgage Applications on the rise for the first time in a long time: Mortgage applications climbed 1.6% from last week, according to data from the MortgageBankers Assoication’s Weekly Mortgage Applications Suvery for the week ending September 14, 2018 Read Full Article

Here’s what Jeff Bezo’s said about locating HQ2 in the Greater Washington area –  Never had so many business leaders packed into the massive ballroom at the Washington Hilton on the off chance the tech leader and richest man alive said … something.

Read Full Article

United Wholesale Mortgage WM is hte nations No 2. Purchase Lender –  What this means for brokers

Looking at second quarter numbers, UWM produced $8.3 billion in purchase loan volume to surge past Bank of America ($7.9 billion), JP Morgan Chase ($7.86 billion) and Quicken Loans ($7.8 billion) to become No. 2, behind Wells Fargo ($15.4 billion). Read Full Article

Mortgage Lenders May Lower Credit Standars if Apps keep falling:

Now, a decade after the crisis, two headwinds are putting pressure on mortgage companies. First, interest rates are going up. Second, the housing supply is constrained, which has resulted in a sharp appreciation in home prices. With mortgage applications declining, executives have a choice to make: Should underwriting standards be lowered? When volume becomes the defining metric for how loan officers and mortgage companies get paid, then loan quality deteriorates — and we’ve seen how that movie ends. We in the industry should be mindful not to take shortcuts or return to suspect practices. Those who managed through the great financial crisis won’t have to think twice about making the right decision. Read Market Watch Article , Read HousingWire Article by Jacob Gaffney

HUD Secretary Ben Carson lays out plans for Housing:

Carson laid out three components of his plan for reforming public housing.

  1. The first is eliminating policies that increase rents as income goes up.

  2. The second is to allow public housing authorities the freedom to implement any of the Choice Rent structures for their properties.

  3. The third aspect of Carson’s plan is to use HUD funds to provide families in public housing with programs and resources that he hopes will help break poverty cycles.

Carson commented on the imbalance between supply and demand in the market and essentially said that private investment through public-private partnerships are the key to addressing the lack of affordable housing in the U.S. According to Carson, only one in four applicants who qualify for HUD assistance get it, and the lack of supply is right at the center of that abysmal rate. Read Full Article by Jeremiah Jensen

Hurricane Florence Aftermath: Read Wall Street Journal Article




All FHA-Approved Mortgagees and Servicers;


All Other Interested Stakeholders in FHA Transactions


Reminder — Guidance for FHA-Approved Mortgagees and Servicers Regarding Presidentially-Declared Major Disaster Areas

Today, the Federal Housing Administration (FHA) is issuing this reminder to mortgagees about its guidance for originating and/or servicing FHA-insured forward andreverse mortgages in locations in the U.S. and its territories when the President declares it a major disaster area. This declaration is made when natural or other events are of such severity that it is beyond the combined capabilities of state and local governments to respond. The following guidance applies to all areas covered by a Presidentially-Declared Major Disaster Area (PDMDA):


  • FHA-insured mortgages secured by properties in a PDMDA are subject to a 90-day foreclosure moratorium following the disaster.
  • FHA-insured reverse mortgages (HECMs) that become due and payable for reasons other than the death of the last surviving borrower and eligible nonborrowing spouse are subject to a 90-day extension of HECM foreclosure timelines.
  • In PDMDAs only, HUD provides mortgagees an automatic 90-day extension from the date of the foreclosure moratorium expiration date to commence or recommence foreclosure action or evaluate the borrower under HUD’s loss mitigation program.


Mortgagees should review complete servicing guidance in the Single Family Housing Policy Handbook 4000.1 (SF Handbook), Sections III.A.2 and III.A.3.c relating to the servicing of mortgages in PDMDAs.

Mortgagees are reminded that they should begin reaching out to affected borrowers who may require loss mitigation assistance as soon as possible post-disaster. In preparation for assisting homeowners with longer-term recovery efforts, mortgagees should also review:

·       FHA’s 203(h) Mortgage Insurance for Disaster Victims requirements in Section II.A.8.b of the SF Handbook. The 203(h) program allows FHA to insure mortgages for victims of a major disaster who have lost their homes and are in the process of rebuilding or buying another home.

·       FHA’s 203(k) Rehabilitation Mortgage Insurance Program requirements in Section II.A.8.a of the SF Handbook. The 203(k) program provides mortgage financing or refinancing which includes the cost of home repairs – both structural and non-structural – into the loan amount.

Mortgagees can find more information about the policies referenced above and other FHA PDMDA policies on the FHA Resource Center’s Online Knowledge Base.

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