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CFPB ‘quietly’ affirms support for HUD counselors partnering with mortgage originators

Housing Wire

Department of Housing and Urban Development (HUD)-approved counselors can use fee for pre-purchase counseling and homeownership education services. The change was confirmed through a LinkedIn post by HUD Deputy Assistant Secretary for Housing Counseling David Berenbaum. “The This list is provided for ease of reference.

Mortgage 361
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Sale Price vs Appraised Value Disconnect

Appraiserblogs

According to aggregate statistics from the Uniform Appraisal Dataset released by the FHFA, roughly 57% of appraisals were above the contract price in 2021. Related Posts: A Low Appraisal is Now a Bad Appraisal A low appraisal is now a bad appraisal. Well, that's according to the headline. The article does not stress ‘bad.’…

Appraisal 116
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Seller Filed a Racial Bias Complaint Against Me

Appraiserblogs

Could it be because of the racial bias complaint filed against me by an unhappy Seller… Fannie Mae accomplished what they set out to do in July 2011, when they initiated their Uniform Appraisal Dataset (UAD) and the Uniform Collateral Data Portal. So what’s caused the sudden loss of income?

Sellers 126
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Supreme Court orders review of recession-era class action against Rocket

Housing Wire

The lawsuit, filed in 2011 in the Circuit Court of Ohio County, West Virginia, claimed that the nonbank lender wrongly influenced home appraisal values during the financial crisis. The dispute involves a potential payment of $9.7 Its affiliate appraisal company, Title Source, now Amrock, provided the appraisals, court records show.

Appraisal 405
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Rise above the panic, for the housing market’s sake

Housing Wire

compared to the week prior and the average contract interest rate for 30-year fixed-rate mortgages with loan balances of $726,200 or less, decreased from 6.48% to 6.45%. An opportunity for commercial real estate investors and developers? When this back and forth was unfolding, mortgage demand rose 2.9% What does this sound like to you?

Retail 347
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David Stevens, former FHA Commissioner and MBA President, has died

Housing Wire

Dave and his wife Mary were instrumental in the 2011 creation of the MBA Opens Doors Foundation, which has helped more than 16,000 families with crucially ill or injured children stay in their homes while their child is in treatment.” Stevens oversaw FHA programs for single and multifamily housing for two years.

Finance 459
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What Tools for Measuring Houses for Appraisals

Appraisal Today

No (or Limited) Discrimination Coverage This one is a problem that has only developed recently — within the last two years — as more and more appraisers are facing discrimination complaints and claims. percent, a record high for the jumbo series, which dates back to 2011.” The average contract interest rate for 5/1 ARMs increased to 6.24

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