Rate Sheet, AI, Verification, Servicing, Flood Tools; Primer on What Builders Can and Can’t Do

“I was gambling in Las Vegas; I took a little risk. Send lawyers, guns, and money, Dad, get me out of this!” Hopefully, no one heading to LV tomorrow or this weekend runs into that kind of trouble. Did you know… The difference between an American roulette wheel and a European wheel? The American version has “00.” Fans of Lucifer, and numerology, know that, for both, the numbers add up to 666! Homeowners in Las Vegas are not typically big gamblers, unless you consider their housing values which, historically, are subject to big swings. Home prices in Southern Nevada have edged slightly lower in the last year, as the number of properties on the market continued to climb, “signaling a cooling but stabilizing housing market.” Las Vegas has its share of commercial buildings… Do the office markets and residential markets correlate? In Chicago, Walgreen’s is closing its Old Post Office location. In New Orleans, two landmark skyscrapers are in default. In New York, a building was just purchased for $25 million for conversion to residential. Nothing is constant but change. (Today’s podcast can be found here and this week’s are sponsored by Floify, an industry-leading point of sale platform. With Floify’s new Dynamic AI feature, lenders can modify applications with no coding required and rely on AI to autofill key application fields, allowing borrowers to fill out only a few fields relevant to their needs. Hear an interview with Floify’s Sydney Barber on how Dynamic AI is built into its POS to automate tasks like document handling and income verification, speeding up approvals, improving compliance, and enhancing the borrower experience while freeing lenders to focus on relationships.)