Housing Wire

MAY 9, 2022

Home prices in the U.S. have been skyrocketing since 2020, however, I often like to remind people that no matter how crazy home-price growth is in America, at least we aren’t Canada. When it comes to home prices — and especially home prices compared to income — our neighbors up north are like Godzilla to our gecko. Over the weekend, I tweeted several charts, showing people the big divergence between home price growth and real disposable income in the two countries.

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Appraisal Buzz

MAY 9, 2022

James Owens has joined Xactus , a provider of borrower verification solutions to the mortgage industry, as chief technology officer. A seasoned IT professional with almost 30 years of executive-level experience in the financial services and software development industries, Owens brings an abundance of expertise in technological development and leadership to his position.

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Housing Wire

MAY 9, 2022

California-based Owning Corp., a direct-to-consumer mortgage lender acquired by Guaranteed Rate in February 2021 , is planning a workforce reduction amid higher mortgage rates and lower refinance volumes. According to a Worker Adjustment and Retraining Notification (WARN) notice submitted to the Employment Development Department (EDD) in California, the company cut 108 jobs in three rounds from February to April but intends to add 81 to the list.

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Appraisal Buzz

MAY 9, 2022

Remote work situations have given way to a rise in second home purchases, with counties in Idaho, Maine, and Texas leading the way, experiencing more than 50% growth price. The post Second Home and Investment Property Prices Up Nearly 20% in Q1 appeared first on DSNews. The post Second Home and Investment Property Prices Up Nearly 20% in Q1 appeared first on Appraisal Buzz.

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Housing Wire

MAY 9, 2022

Budget-tightening constraints of inflation, higher mortgage rates, and housing price gains are constraining consumers from buying houses. Fannie Mae ‘s Home Purchase Sentiment Index, which tracks the housing market and consumer confidence to sell or buy a home, dropped by 4.7 points to 68.5 in April, marking the lowest level since May 2020. Compared with the same period in 2021, the HPSI is down 10.5 points.

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Appraisal Buzz

MAY 9, 2022

The latest iteration of Fannie Mae’s Home Purchase Sentiment Index (HPSI) for April decreased by 4.7 points to 68.5, its lowest level since May 2020, as rising mortgage rates and inflation pushed buyers to question affordability. All six of the index’s components decreased month over month, which comes from Fannie Mae’s National Housing Survey (NHS).

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Appraisal Buzz

MAY 9, 2022

Incenter LLC has announced that Doug Jorgenson has joined the company as a Consultant with the Enterprise Business Development team. In his new role, he will meet with C-level executives at top servicers, discuss their opportunities and challenges, and introduce them to Incenter’s solutions and technologies. “Facing the potential for increased defaults and redefaults, servicers … The post Doug Jorgenson Joins Incenter LLC as Business Development Consultant appeared first on DSNews.

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Housing Wire

MAY 9, 2022

Fast-rising interest rates hit Finance of America Companies hard in the first quarter of 2022 and the company cut almost 600 jobs compared to one year ago. . Like many of its competitors, the lender reported that its traditional mortgage business saw reduced originations and margins from January to March, mainly due to a drop-off in refinance volumes and an increase in spreads on non-agency mortgage products, which resulted in a reduction in revenues.

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Appraisal Buzz

MAY 9, 2022

The Consumer Financial Protection Bureau (CFPB) has recently published an advisory opinion to affirm that the Equal Credit Opportunity Act (ECOA) bars lenders from discriminating against customers after they have received a loan, not just during the application process. “The CFPB is ramping up its efforts to issue guidance and advisory opinions to assist entities … The post CFPB Releases Advisory Opinion Educating Consumers on Fair Lending Laws appeared first on DSNews.

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Housing Wire

MAY 9, 2022

The American Land Title Association saw a nearly 36% year-over-year increase in title insurance premium volume in 2021 for a staggering $7 billion spike, according to the trade group’s Market Share Analysis , published Friday. The title insurance industry generated $26.2 billion in premiums last year compared to $19.2 billion in 2020, an increase that ALTA attributed to historic mortgage origination activity and the substantial increase in home values.

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Appraisal Buzz

MAY 9, 2022

Wesley Mortgage LLC has appointed three new executives to key positions in the company. Steve Medes has joined the company as president, along with John Page, who will serve as COO, and Brian McGuinness, Wesley Mortgage’s new head of sales. The three had previously worked together at Franklin American Mortgage Co. “Tennessee is more than a key market for us.

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Eyes on Housing

MAY 9, 2022

In the first quarter of 2022, non-real estate secured consumer credit, per the Federal Reserve’s latest G.19 Consumer Credit report, grew at a seasonal adjusted annual rate of 9.7%, with revolving debt growing at 21.4% and nonrevolving at 6.1%. Total consumer credit currently stands at $4.5 trillion, with $1.1 trillion in revolving debt and $3.4 trillion in non-revolving debt.

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Appraisal Buzz

MAY 9, 2022

Fannie Mae ’s Home Purchase Sentiment Index (HPSI) decreased by 4.7 points to 68.5 in April, its lowest level since May 2020, as surveyed consumers expressed heightened concerns about housing affordability and rising mortgage rates. All six of the index’s components decreased month over month, with a survey-high 76% of consumers indicating that they believe it’s a bad time to buy a home, up from 73% last month.

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D Fritz Appraisals

MAY 9, 2022

Know Your Rights About Splitting Property After Separation. How is a house divided in a divorce? That’s the question we’ll answer in this blog post as well as many other questions about splitting assets after separation. . Everyone feels the need to find that special someone to share their life with. Deep and meaningful connections, whether it’s intimate or platonic, are what make the world a better place.

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Law Legal Appraisal Market Value 115

Mashvisor

MAY 9, 2022

If you want to invest in real estate to build wealth and diversify your portfolio, Mashvisor’s Property Finder will help you reach your goals. Table of Contents What Is Mashvisor?

Real Estate 68

Real Estate Investors Investing Tools 68

BiggerPockets

MAY 9, 2022

Budget meals, cheap eats, and deliciously discounted recipes are all in this episode of the BiggerPockets Money Podcast. As many of you financial freedom chasers know, one of the biggest […].

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Mashvisor

MAY 9, 2022

If you’re investing in vacation rentals, being an Airbnb Superhost is a great start. But you can level up a notch and upgrade to Airbnb Plus.

Investing 68

Investing Tenants Landlords Tools 68

BiggerPockets

MAY 9, 2022

If you’re not into traditional budgeting, where you place all of your spending into rigid categories, then the 50/30/20 rule might be for you. This method of financial management is […].

Finance 59

Finance 59

Mashvisor

MAY 9, 2022

As investors, you should pay special attention to the operating cash flow formula, as it is a crucial factor in your investment strategy.

Investors 69

Investors Real Estate Investing Tools 69

Town & Country Residential Appraisals

MAY 9, 2022

Last year, I relocated my business to Murrysville. It has been a pleasure to provide residential valuation services in an area that has so much to offer. As many have heard, read or experienced, the real estate market in the year 2021 was crazy. Houses would go up for sale and within a very short period of time, sometimes hours, multiple offers were received.

Real Estate 50

Real Estate Inspection Valuation Marketing 50

BiggerPockets

MAY 9, 2022

Maybe you wanted to know how to invest in real estate back in early 2020. You took some time to educate yourself by listening to podcasts and reading books. Then […].

Real Estate 55

Real Estate Investing Marketing 55

Mortgagebroker News

MAY 9, 2022

The company has made a significant appointment to help propel its Canadian growth

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Real Estate 64

Will Springer Realtor

MAY 9, 2022

Norwegian Day, May 17 Ballard truly comes to life to celebrate, of all things, Norwegian Constitution Day. The 17 th of May Festival has been marked by Seattle in some form since 1889. It continues today with a luncheon, kids’ activities, music and capped by a grand parade at 6pm. “Hipp, Hipp, Hurra!”. Garage Sale Extravaganza, May 21 The Seattle neighborhoods of Phinney Ridge and Greenwood partner on an annual rite of passage – a massive garage sale and recycling event.

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Appraisal Buzz

MAY 9, 2022

It is no secret that log homes do not appraise well. In the past, almost every major log home magazine has posted an article on the topic. The question is raised as to what is the real problem with log home valuation and what is the problem with appraisers working in the niche log home market? Many appraisers in urban areas like Chicago believe that the log home market is irrelevant and is not worth exploring.

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Housing Wire

MAY 9, 2022

Closing costs for homeowners who jumped on the refi wave in 2021 increased at less than one-third the pace of closing costs for home purchases as homebuyers had to cope with a hot market that fueled higher home-sale prices and related settlement costs. The national average closing costs for a single-family property refinance in 2021 was $2,375, up $88, or 3.8%, from the previous year, according to CoreLogic ‘s ClosingCorp.

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Insurance Inspection Real Estate Technology 369

Appraisal Buzz

MAY 9, 2022

CoreLogic ’s ClosingCorp has released its second annual Refinance Closing Cost report for 2021. One of the key takeaways shows that the national average closing costs for a single-family property refinance in 2021, excluding any type of recordation or other specialty tax, was $2,375. While this is up $88, or 3.8%, from 2020’s reported amount of $2,287, it is still less than 1% of the average refinance loan amount, which was $304,909.

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Will Springer Realtor

MAY 9, 2022

As a wave of new jobs approaches the Eastside, where are they going to live? For many, it won’t be within close distance of the area’s booming office expansion. The job numbers are staggering. Amazon alone is promising to fill 25,000 positions east of Lake Washington in the next few years. Fellow tech giants Google, Meta (formerly Facebook) and Microsoft are bulking up as well.

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Housing Wire

MAY 9, 2022

The Federal Housing Administration said that nonprofit organizations and owner-occupant buyers will have first dibs on foreclosed properties that get auctioned off through its Claims Without Conveyance of Title (CWCOT) program, specifically prioritizing these groups over investors. For the first 30 days, a foreclosed property listed for sale can only be bid on by owner-occupant buyers, approved nonprofits, and government entities, the FHA announced last week.

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