DS News

94 shy of 3 percent in 2018. Las Vegas had the highest year-over-year increase in single-family rents in Novem- ber—6.7 percent. Phoenix came in a close second at 6.1 percent and Orlando saw rents tick up 5.3 percent. Both Orlando and Phoenix experienced high year-over-year rent growth in November 2018, driven by employment growth of 4.8 percent and 4.2 percent year over year, respectively. Seattle, one of the most expensive and escalating housing markets over the past few years, actually saw rents drop by 0.7 percent in November. It was the only metro to see a drop and it was Seattle's first month of decrease in rent since 2010. Rent prices in disaster-affected areas like Houston grew throughout 2018, but growth in Houston stalled at 1 percent in November. at's down from 2.4 percent a year earlier and it's the lowest year-over-year rent price increase for Houston in two years. UTAH MetaSource Accepted to S&P List MetaSource, a mortgage quality control services and technology provider headquar- tered in Salt Lake City, has been accepted to the Standard & Poors' (S&P) list of reviewed firms that conduct third-party due diligence for U.S. residential mortgage-backed securi- ties. MetaSource is one of only a small group of firms that met the assessment factors that are part of S&P's increasingly strict criteria for the list. "e rating is considered to be one of the 'gold standards' of the industry, and the fact that MetaSource has achieved it should give investors tremendous confidence in our abili- ties as we move further into this marketplace," said Adam Osthed, President and CEO at MetaSource. In reviewing firms to create the list, which is updated every 18 months, the S&P employs rigorous criteria, scrutinizing such factors as loan data quality, compliance with required underwriting guidelines, property valuation, supporting technology and regulatory compli- ance. As part of the process, the S&P reviewed MetaSource's proprietary web-based platform that allows for complete transparency among buyers and sellers as it completes third-party securitization-related due diligence. rough MetaSource's interactive plat- form, both buyers and sellers can see work happening in real-time as it is being com- pleted, including the audit results. "We're very unique in how we're able to interact with our customers and sellers through the process. We can set the level of transparency a client wants based on their requirements," said Mary Kladde, SVP of mortgage services at Meta- Source. In addition, the platform utilizes such technologies as Robotic Process Automation and Optical Character Recognition to speed up turnaround times. "Some firms still rely on using Excel spreadsheets and manual processes to enter and validate data. We've automated many traditionally manual processes and as a result, we're shortening transaction times and improving accuracy," Kladde said. "With the S&P acceptance and our ability to provide complete transparency and faster transaction turnarounds, MetaSource is work- ing to revolutionize the mortgage due dili- gence marketplace and setting new standards for speed, quality and accuracy," she added. MetaSource is focused on business process outsourcing, and business process management services integrated with enterprise content management, workflow solutions, compliance services and customer experience processes. MetaSource's mortgage services include qual- ity control audits (pre-fund, post-close, servic- ing, MERS), lien release, whole loan purchase reviews, and technology services. WASHINGTON Making the Smartest Investment Bet Is investment in real estate a better bet compared to stocks? Many Gen-Xers and older millennials, would tend to opt for the latter, according to a survey by Seattle-based Redfin. e survey, which was conducted between November 2 and December 10, 2018, and covered more than 2,600 respondents, revealed that less than half of homebuyers and sellers between the ages of 35 and 44 believed that real estate was a better long-term investment. Explaining this group's propensity to lean towards stocks, the survey revealed that most of these respondents consist of those who reached the median first-time buyer age of 31 years old between 2008 and 2012 during the Great Recession and the housing market collapse. "e oldest millennials and youngest Gen- Xers entered their late twenties or early thirties during the housing crash, which explains why they are more skeptical about investing in real estate," said Daryl Fairweather, Chief Econo- mist at Redfin. "is generation experienced a major setback during the housing bust, which hit just as they were most likely to be getting married, starting a family, and becoming a first-time homeowner." Younger millennials, the survey revealed, were much more confident about investing in the housing market with 59 percent of those aged 25 years and less opting for this invest- ment over stocks. For older Gen Xers too, housing was a much better investment option compared to the stock market, with 60 percent respondents in this age-group preferring real estate investments. Younger baby boomers, (55 to 64 years), were the most optimistic about real estate as an investment. ose in this age group preferred housing with 62 percent saying they would opt for property investment compared with 38 percent who said they would invest in stocks. "Looking into the future, we expect to see homeownership increase as millennials enter prime home buying age," Fairweather said. is is because millennials have a more favor- able opinion of real estate as an investment than Gen-Xers, and millennials are a larger group than Gen-Xers." is the average interest rate for a mortgage in Washington. The state is tied with Massachusetts for the third-lowest interest rates in the nation, behind only California (4.74 percent) and New Jersey (4.75 percent). Source: LendingTree STAT INSIGHT 4.76%

• Cover