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Fidelity Mortgage - Grand Junction Colorado

Fidelity Mortgage Grand Junction was founded with the philosophy that the customer should always come first in mortgage lending. Since our doors ...

Rising Mortgage Rates, Slowing Home Sales Don't Deter Fidelity's Nabar

Despite rising mortgage rates, a lack of homeownership on the part of millennials and increasing property values that are shutting some buyers out of the market, Fidelity Investments portfolio manager Neil Nabar is bullish on the outlook for the construction and housing markets.

In fact, the fund manager for the Fidelity Select Construction and Housing Portfolio is more bullish than he was this time a year ago, when the housing index saw a big surge. "The first half of 2018 was a little disappointing, with the construction housing index underperforming the S&P 500 and homebuilders down on average about 20%," Nabar said in an interview with Investopedia. "It was a knee-jerk reaction to higher interest rates and a potential recession. But it is our job to separate the signals from the noise."

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While many investors are running for the hills, betting that real estate sales will slow and further pressure homebuilders, Nabar pointed to single-family housing starts as an example of extracting important facts from the noise. He noted that, on an annualized basis, single-family housing starts are on pace to hit 950,000 per year, and over the longer term, they could be in the 1.2 million to 1.3 million range to keep up with population growth. Add what Nabar said is a "wave" of under-building for years to the mix, and the situation doesn't seem so bad for the construction and housing markets. A lack of supply isn't the only driver of new homes in the months and years to come. Nabar said that a strong labor market and the White House's immigration policies could also boost demand.

People on the move: July 20

ALASKA

ANCHORAGE

Residential Mortgage has hired Tawni Layne Laxa and Amy Miller as senior mortgage loan originators.

Laxa brings 16 years of mortgage industry experience to Residential Mortgage. She worked at Alaska USA Mortgage Co. as an assistant vice president and senior mortgage loan originator from 2007-2017, and most recently at Prime Lending where she was a senior mortgage loan originator.

Miller has 20 years of experience in mortgage lending, including 10 years as a senior mortgage loan originator at Alaska USA Mortgage Co.

CALIFORNIA

IRVINE

WEST , a Williston Financial Group/Golden Gate Capital holding, has appointed Marty Frame as chief operating officer.

Prior to WEST, Frame was president of Realtors Property Resource, a wholly owned subsidiary of the National Association of Realtors.

Before that role, he served as general manager of Cyberhomes.com for Fidelity National Financial and Lender Processing Services, and was formerly the Chief Technology Officer of Realtor.com for Move Inc.

Fidelity Mortgage sells a mortgage on Doug's home to Enterprise Bank.Enterprise erroneously pays the real esta

te taxes on the home. When Enterprise demands reimbursment, Doug refuses, arguing that no contract exists that obligates him to reimburse the bank. What legal theory might Enterprise use to get its money from Doug?


Was there an escrow account set up for taxes in the original loan with Fidelity? If not, chances are Doug also paid the taxes to the county unless Enterprise brought it to Doug's attention that they had already paid them.