Wed.May 11, 2022

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The housing market has shifted

Sacramento Appraisal Blog

The housing market has shifted over the past month. That’s what the stats are showing, and it’s what we’re hearing from the trenches. Today I want to highlight what’s been happening in Sacramento, and unpack what I mean by “shift” too since this word can be sensationalized. If you’re not local, what are you seeing […].

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Mortgage applications rise despite higher rates

Housing Wire

Prospective homebuyers aren’t deterred by the skyrocketing mortgage rates amid a slow start to the spring home-buying season this year. The Market Composite Index, a measure of loan application volume, rose 2 percent on a seasonally adjusted basis for the week ending May 6, from the previous week, according to the Mortgage Bankers Association. Conventional, Federal Housing Administration (FHA) and Veterans Affairs (VA) purchase loan application volume led the gain in mortgage application volume

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Protected: The Future of CRE Cash Flow Modeling & Valuation Technology

Appraisal Buzz

This content is password protected. To view it please enter your password below: Password: The post Protected: The Future of CRE Cash Flow Modeling & Valuation Technology appeared first on Appraisal Buzz.

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Caliber sues CrossCountry after 80 employees left for rival

Housing Wire

Texas-based multichannel lender Caliber Home Loans is accusing Ohio-based CrossCountry Mortgage of executing an “illegal scheme of unfair competition” by targeting its employees, stealing trade secrets and diverting customers. The accusations are part of a lawsuit filed in May in the U.S. District Court for the Western District of Washington in Seattle.

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Learning from the Mistakes of Others

Appraisal Buzz

Today’s Buzzcast interview is with Mel Black, Certified Residential Appraiser, Licensed real estate broker, and McKissock Learning’s Director of Appraisal Innovation. We sat down with Mel and Jim Morrison, VP of Marketing and Sales for Allterra Group, to discuss appraisal disciplinary cases and how appraisers can learn from them. What is your background in the appraisal industry?

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Homepoint lends homebuyers the power of all-cash offers

Housing Wire

In this hot housing market, Michigan-based wholesale lender Homepoint understands the key to originating more home loans is ensuring more sellers accept offers made by its buyers. To do that it relies on the two words sellers increasingly want to hear: “All cash.” But how does an all-cash offer benefit a mortgage lender? Dubbed the “Homepoint Cash Compete,” the fintech platform provides home shoppers with the cash needed to compete with investors and other more attractive

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More Trending

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Fidelity’s title segment reports $2.4B revenue in Q1

Housing Wire

Title insurers big and small can’t seem to escape rapidly deflating refinance volume, but Fidelity National Financial still pulled out the second-best quarter ever for title revenue in Q1 2022. Fidelity ‘s title sector saw the number of refinance orders opened per day during the first quarter of 2022 drop by 57% compared to Q1 2021. The number of purchase orders opened per day dropped 1% year over year, while the number of commercial orders opened per day rose 6% compared to a year p

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Otmane Laassel: How Mortgage Lenders Can Serve the Underserved

Appraisal Buzz

PERSON OF THE WEEK: As the mortgage industry and its regulators strive to bring homeownership to more borrowers throughout the country, many lenders are working hard to find the best way to serve their lower-income clients and ensure they do not get left out in the current market, while still lending responsibly. Otmane Laassel, branch manager and senior loan consultant at the Homespire Mortgage branch in Shady Grove, Maryland, recently spoke with MortgageOrb about.

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HousingWire May Demo Day: Qualia

Housing Wire

Qualia Connect. Qualia Connect enables lenders to deliver better borrower experiences by giving them control and transparency over the title & escrow process. With Qualia, you can now move loans through the title process faster by automating otherwise manual steps such as order placement as well as standard requests for documents and information.

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Migration is Key Trend Affecting Insurance Carriers

Appraisal Buzz

The Great Recession, now 15 years behind us, and its impacts on homeownership and insurance markets are still being felt today. This is according to a new report from the credit bureau TransUnion, who also found that migration patterns are increasingly becoming out-of-state, which poses risks to insurance providers books. The report comes from TransUnion’s … The post Migration is Key Trend Affecting Insurance Carriers appeared first on DSNews.

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HousingWire May Demo Day: BeSmartee

Housing Wire

BeSmartee Mortgage Marketplace. Lenders can leverage BeSmartee’s Mortgage Marketplace to solve for automation challenges by providing anonymous rate search tools for their loan officers, increasing online application conversion rates and offering borrowers an easier, faster and more transparent mortgage experience. Product Fast Facts. #1. The borrower can get live rates before they fill out the application. #2.

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McCalla Raymer Leibert Pierce Opens Oregon Office

Appraisal Buzz

Provider of legal services to the mortgage banking industry opens new Pacific Northwest office, and adds three new attorneys to its practice. The post McCalla Raymer Leibert Pierce Opens Oregon Office appeared first on DSNews. The post McCalla Raymer Leibert Pierce Opens Oregon Office appeared first on Appraisal Buzz.

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Why now is the time for lenders to ‘retool’ their IT environment

Housing Wire

After record-breaking volumes in 2020 and 2021, lenders are now feeling a pinch once again. As profit margins tighten, lending professionals are seeking out solutions to increase efficiencies wherever possible. HousingWire Content Solutions Managing Editor Maleesa Smith had the chance to talk with Bob Jennings, executive of underwriting solutions for CoreLogic, who shared what lenders should prioritize in this environment.

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Foreclosure Completions Drop Over 30 Points

Appraisal Buzz

ATTOM Data, a real estate data company, has released its latest iteration of the Foreclosure Market Report for April 2022 which has found that there were a total of 30,674 properties with foreclosure filings against them, down 8% from March which saw 33,333, but still up 160% from a year ago. Foreclosure activity has now … The post Foreclosure Completions Drop Over 30 Points appeared first on DSNews.

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HousingWire May Demo Day: Total Expert

Housing Wire

Customer Intelligence. Customer Intelligence is the only all-in-one sales and marketing platform purpose built for modern lenders and banks. Key customer insights trigger customizable workflows, allowing lenders to take action with messaging based on a customers unique financial situation at that moment in time, allowing you to deliver the right message, to the right customer, at the right time.

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Closed Sales Slip in Q1 from 2021

Appraisal Buzz

Home prices across the United States rose in Q1 at an annualized rate of 12.8%, according to Radian Home Price Index (HPI) data released today by Red Bell Real Estate, LLC, a Radian Group Inc. company. The Radian HPI also rose 15.3% year-over-year (March 2020 to March 2021), slightly higher than the year-over-year increase of … The post Closed Sales Slip in Q1 from 2021 appeared first on DSNews.

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HousingWire May Demo Day: CoreLogic

Housing Wire

Accounting Automation. CoreLogic Complete Collateral technology platforms include a comprehensive accounting automation solution designed to streamline the borrower’s experience and improve relationships with appraisers. By eliminating distractions in your collateral-related accounting process, your lending organization can spend less on invoice processing, avoid accounts payable overhead, and simplify tax record management.

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MBA: Mortgage Application Rate Grew by 2 Percent in One Week

Appraisal Buzz

Mortgage applications increased 2% on a seasonally adjusted basis from one week earlier, according to Market Composite Index data from the Mortgage Bankers Association ’s (MBA) Weekly Mortgage Applications Survey for the week ending May 6, 2022. On an unadjusted basis, the index increased 3% compared with the previous week. The Refinance Index decreased 2% from the previous week and was 72% lower than the same week one year ago.

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HousingWire May Demo Day: DocMagic

Housing Wire

Total eClose with AutoPrep solution. Total eClose has everything you need for a paperless eMortgage in one, comprehensive, eClosing solution. Via our AutoPrep solution, we can absorb data and documents, from any source and in any format, and e-enable those documents for eSignature, eDelivery, and other digital processes. AutoPrep opens the door to an efficient, end-to-end eClosing workflow.

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Inflation Slows from 40-Year High in April

Eyes on Housing

Consumer prices increased at a somewhat slower pace in April, the smallest monthly increase since August 2021, though inflation remains near a 40-year high. The food at home and shelter index rose at their fastest pace since November 1980 and April 1991. Though gas prices have fallen from their March highs, the pace of inflation will likely stay high in.

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Occupational Licensing Used to Intimidate

Appraiserblogs

It provides no better illustration of how occupational licensing promotes groupthink and intolerance to differing viewpoints… CALIFORNIA: WHERE RIGOROUS INQUIRY GOES TO DIE It smothers innovation and silences debate. These have been principal criticisms of occupational licensing over the years, and nowhere is innovation and debate under greater attack than in California.

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Mortgage Activity Up in ARMs

Eyes on Housing

Per the Mortgage Bankers Association’s (MBA) latest month’s surveys (the week ending May 6), the 30-year fixed-rate mortgage (FRM) rate rapidly grew to 5.53%, marking the steepest interest rate increase on record. The Market Composite Index, a measure of mortgage loan application volume, increased by 2% on a seasonally adjusted basis from one week earlier, despite a general downward trend. .

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How to Know if Your Client Is Really Motivated to Buy in a Hot Real Estate Market

McKissock

Time is money. Before you log too many hours chauffeuring buyers from property to property, make sure they’re truly motivated to navigate the challenges of a hot sellers’ market —from competing with other buyers to committing to contracts that favor the seller. Here are some good indications that your clients are truly ready to buy. #1: They don’t say “I want to see what’s out there”.

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How the ARV Works in Real Estate: A Beginner’s Guide

Mashvisor

ARV can help you tell what renovations to make to get the highest ROI, fix and flip homes fast, and grow your real estate portfolio. Here is how.

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A Quick Look At The Birmingham Housing Market: First Quarter 2022

Birmingham Appraisal

So How’s The Birmingham Housing Market? With the first quarter of 2022 under our belts, I thought I would take a quick look at how the numbers stack up against past years, and for March. We’ll take a look at some key metrics including sales volume, median sales price trends, days on market, the sale price to list price ratio, active listings, and months of supply.

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5 Things You Need to Know About 3D Printed Homes

Mashvisor

Among the many real estate trends that became popular in the past year, 3D printed homes stand out due to their affordability and practicality.

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The “Golden Trio” Every Real Estate Investor MUST Have to Truly Profit First

BiggerPockets

The Profit First system was revolutionary when introduced by Mike Michalowicz. In simple terms, Profit First allowed small business owners to take home bigger paychecks, reinvest in their business, and […].

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Everything You Need to Know About Digital Real Estate

Mashvisor

As the world went digital during the COVID-19 pandemic, digital real estate became popular. Is it the best investment you can make in 2022?

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When Does a Guest Become a Tenant? 4 Signs That They’ve Overstayed

BiggerPockets

Have you ever wondered what to do when your tenant has a guest come to visit them, but they wind up staying for months? At that point, are they a […].

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Mortgage Rates Watch: May 2022

Mashvisor

With inflation rates continuing to climb, how can the movement of mortgage rates contribute to the wellness of our economy today?

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Agent education: What should brokerages be focusing on?

Mortgagebroker News

Broker-owner on what Ontario brokerages should be keeping in mind when training new agents

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Mike Simonsen on leading indicators of a housing slowdown

Housing Wire

With the strange mix of market dynamics in real estate right now, it can be challenging to predict when the market will cool off based on the usual seasonal patterns. On the one hand, interest rates have spiked to their highest point in years, which should be dampening demand. On the other hand, inventory is still near record lows, and there is so much pent-up demand and cash ready to deploy that we are still hitting new record home prices each week.

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Is Saskatchewan set to weather the coming rates storm?

Mortgagebroker News

The province's housing market appears well positioned to ride out impending rate increases

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Keeping Up With Demand

Appraisal Buzz

DS News spoke with industry experts about how the single-family rental sector is offering savvy investors the chance to leverage technology and trends, such as increased migration, to find opportunities in unexpected places. The post Keeping Up With Demand appeared first on DSNews. The post Keeping Up With Demand appeared first on Appraisal Buzz.

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