Wednesday, January 28, 2015
On January 7, 2015, the Obama administration announced that the Federal Housing Administration (FHA) will decrease the rate charged for monthly mortgage insurance premiums (MIP) from 1.35% to 0.85% for all FHA insured loans. This has been viewed as a positive development for the housing market. According to FHA, the typical homeowner would save $75 per month totaling $900 per year as a result of this lower rate being charged.
Thursday, January 22, 2015
Property Management is a viable option for relocating employees who are homeowners looking to maintain ownership of their home, as an alternative option to selling or who may be going on a temporary assignment and intend on returning to the property.
Whatever the reason, working with a full-service property management provider
can help alleviate the burden by handling the management responsibilities, such as finding and screening tenants, collecting rent, visual property inspections, routine and emergency repair management, addressing tenant concerns, providing income statements and year-end reporting.
Friday, January 16, 2015
SIRVA unveiled new enhancements to its suite of global compensation relocation services.
Using proprietary SIRVA data, the free Global Cost Calculator enables users to generate a detailed estimate of the expenses associated with relocating an employee from one destination to another before incurring any costs. SIRVA’s Global Expense Management Tool enables relocating customers to manage travel expenses on their computers, mobile phones and tablets.
For more information, read the press release.
Tuesday, January 13, 2015
There is a myth that a credit report is pulled several times during the mortgage process but the truth is that it is typically only requested once, depending on the timing of a borrower’s transaction.
Tuesday, January 06, 2015
What are Jumbo Programs?
The mortgage market has welcomed back an old friend, jumbo loan programs. Jumbo programs are loans that exceed the maximum loan amount that are eligible for sale to Fannie Mae and Freddie Mac. In most markets, the conforming loan amount that Fannie or Freddie can buy is up to $417,000. In designated high cost markets it can be as high as $625,500. Any loan above the designated amount are considered jumbo.
Tuesday, December 23, 2014
Hank Roth, Senior Counsel for SIRVA, has been appointed to Chair the Tax Forum of Worldwide ERC’s Government Affairs committee. According to WERC’s website, “The Tax Forum is tackling tax issues such as broad U.S. tax reform or changes as well as international and state tax issues that have specific ramifications for the tax treatment of transferees and relocation services. These include IRS audits of relocation homesale programs, particularly the buyer value option (BVO), and tax issues surrounding same-sex married couples.”
Thursday, December 18, 2014
If you are involved in the global compensation collection process at year end, you know that good planning and auditing throughout the year can make an annual chore less stressful and help ensure that your reporting is accurate and compliant. As you wrap up the final deliverables for your tax partner, keep notes about any “bumps” encountered in these past few months and start off 2015 with a plan to eliminate these challenges
Tuesday, December 16, 2014
While it may be only temporary, temporary housing is an important aspect contributing to the overall success of a relocation. This will be the first place your employees become acquainted with when moving their whole life to a new location that they will now call “home”. While there are a multitude of considerations when assessing temporary housing, the following three best practices will help to ensure your employee’s satisfaction.
Thursday, December 11, 2014
It’s the most wonderful time of the year…for most people. If your employees are in the middle of a relocation on their own this holiday season, they might be feeling more like Scrooge than Buddy the Elf.
If this is the case, we come bearing good tiding and gifts in the form of help. As most of you are aware, our Preferred Broker Network (PBN) is available to all of your employees whether they’re offered full relocation assistance or are moving on their own.
What you might not know, is that when you encourage your employees (who are not going through a corporate sponsored relocation) to use one of our preferred agents for their move through SIRVA’s Home Benefits Program – you could be saving them time and headaches on their home sale or purchase. Here’s how…