A report from Forbes. "In a recent survey, 39% of renters said they believed they would need to put down more than 20% to secure a mortgage. In reality, the median down payment on a mortgage in 2017 was just 5%. What accounts for this misunderstanding? For one, low down payments are a relatively new phenomenon. In 2006, just before the housing bubble burst, the median down payment was 20%."

"With home prices climbing since 2012, lenders eventually caught on to the fact that high down payment requirements were making it difficult to attract new mortgage customers. So, around 2015 they began offering low down payment loans to borrowers with high credit and earning potential."

"Borrowers with credit scores of 580 or above can put down as little as 3.5% on a Federal Housing Administration insured loan. The upside is that is typically easier to qualify for an FHA loan than a conventional loan with a private lender. Down payment assistance programs, which provide grants or loans, are more available than ever before. There now are more than 2,500 down payment assistance programs across the country."

"'My parents’ advice to me was ‘real estate is basically an elevator, all you have to do is get on,’ says Justine Boucher, a 31-year-old homeowner who realized she could buy a home after learning 20% was not a requirement."

From the Nevada Appeal. "Two speakers with deep roots in the housing market are bullish on the Lahontan Valley. Bill Brewer, executive director of the Nevada Rural Housing Authority, and Aaron West, CEO of Nevada Builders Alliance, offered their latest overviews on the housing market."

"Brewer gave background information on his agency’s role. He said rural is defined as any area under 150,000 residents. Brewer said the NRHA has assisted thousands of families who wanted to buy a house. In Churchill County, for example, he said the NRHA has helped 230 families and provided $36.7 million in mortgage assistance and $26 million in tax credit savings. 'The entire state is rural except for Reno, Las Vegas, Henderson and North Las Vegas,' he pointed out."

"In 2016 at a CEDA breakfast meeting, the U.S. Department of Agriculture’s Rural Housing representatives said they were encouraging new residents to look at Fernley and Fallon as better areas for affordable housing, educational opportunities and quality of life."

"Aided by the number of retirees moving to the Reno-Sparks area, West said the average sales price for a home is $420,000. Furthermore, he said buyers can’t find new homes for under $300,000. In fact, he said most new homes are selling for about $400,000."

From DS News. "Jeff Smith, Head of Servicing at Wells Fargo, emphasized that customer service must remain a high priority in any environment. 'Regardless of low delinquency rates or foreclosure volume, the fundamentals of helping customers sustain homeownership remains the highest priority,' Smith said. 'Providing exceptional service to a customer is key, whether it is a simple question from a customer who is current or assisting a customer who has a hardship explore options.'"

"DIMONT CEO Denis Brosnan told DS News that legacy systems, despite their faults, have remained in place for a reason. 'The reason legacy systems exist or continue to exist, though, is because they work,' Brosnan said. 'The fundamental focus of a servicer is to collect payments from the borrower and to remit to investors and then to produce the interest statement at the end of the year, and those core systems are very good at that. They’re producing tremendous amounts of transactions with a high degree of reliability.'"

The Casper Star Tribune in Wyoming. "Gillette sits in the heart of Campbell County, home to a dozen coal mines. But the recent closures of the nation’s fourth- and sixth- highest producing coal mines, which are both located just outside of town, have placed the city’s economic fortunes in jeopardy."

"Steven Laakso owns Signature Estate Group, a Gillette-based real estate company. Laakso predicted the recent layoffs could lead to a 'buyers’ market,' similar to what happened in 2016, when an influx of hundreds of houses suddenly went up for sale, he said. 'There was an increase in supply and less demand,' he said. '...When you try to sell your house, it’s less value and there’s more competition.'"

"Former Blackjewel worker Alisha Walker and her husband recently bought their dream house in the Red Hills neighborhood of Gillette with what Walker called 'hefty mortgage payments.' To keep up with both mortgage payments and monthly bills after the layoffs, Walker and her husband attempted without success to withdraw money from their retirement plan the day after the mines closed."

"As of Thursday, the couple’s retirement plan was still frozen and her husband’s final paycheck was on hold at the bank, according to Walker. 'Nobody knows where the rest of our money is,' she said."

The San Mateo Daily Journal in California. "Realtor Michael Verdone, who has sold property in San Mateo County for nearly 50 years, said he anticipates the market cooling will be short lived locally as well. While projecting a healthy market, Verdone noted there is some softening locally - particularly on the upper crust of the housing stock in communities such as Atherton, Hillsborough or other wealthy enclaves."

"'I’m seeing places on the market for a lot longer and I’m seeing price reductions on the higher end,' he said. Verdone attributed the high-end market cooling to some sellers listing their properties at an unrealistic price which pushes away buyers who otherwise have a variety of alternative desirable properties available."