Sat.Apr 23, 2022 - Fri.Apr 29, 2022

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A shift in demand in the housing market

Sacramento Appraisal Blog

Do you feel that? It’s change. The housing market is still elevated, but there’s no mistaking a different temperature – especially over the past week. STUFF ON MY MIND: This is designed to scroll quickly or digest slowly. The goal is to highlight stats and things I’m watching. An elevated market with a shift in […].

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The crypto-mortgage is the new kid on the block

Housing Wire

A rising player in the world of crypto-mortgages and blockchain-enabled financing, LoanSnap, plans expand its reach in the market by opening its lending platform to licensed mortgage brokers across the country in the near future. Karl Jacob, CEO and co-founder of LoanSnap , said the cyrpto-mortgage system his company has developed can originate more than just loans that LoanSnap mints.

Mortgage 438
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Time to Break Out the Saddle!

The Appraiser Coach

Let’s talk about ponies. No, not the hairy little animals that run around your yard and play with your kids. This pony is an acronym, spelled POINII. You’ve heard me. Read More.

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Best Facebook Groups for Real Estate Appraisers

Appraisal Buzz

Engaging in online forums and social media groups for real estate appraisers can be a great way to keep up-to-date on industry news , ask questions, connect with other appraisers, and even get referrals. But with so many options out there, it may be difficult to determine which groups are worth joining. To help you narrow it down, we asked our appraisal community, “What’s the best Facebook Group for real estate appraisers?

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Do We Need a Neighborhood Section? Part II

George Dell

The current residential form (the URAR) neighborhood section is well designed – for data the way it was 40 years ago, filled in on a typewriter, with no software ability to summarize, graph, or map data. Do We Need a Neighborhood Section? Part I is here. As complete market data was rarely available, (and difficult […]. The post Do We Need a Neighborhood Section?

Design 195
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Flagstar Bancorp cuts 20% of its mortgage staff

Housing Wire

Michigan-based Flagstar Bancorp , Inc. , parent company of Flagstar Bank , has reduced its mortgage staff by 20% since the calendar turned to 2022, laying off 420 employees amid a significant drop in origination volumes and margins. Overall, the bank’s net income in the first quarter of 2022 dropped 60.4% from the prior quarter, to $53 million.

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More Trending

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Valuation Expo: September 7-9

Appraisal Buzz

Valuation Expo will be hosted at the Mirage Hotel , September 7-9! Check out our new sessions with leaders in the industry and gain valuable knowledge while having all the fun Vegas has to offer! Get up to 21 Hours of Continuing Education and an optional 7 hours of USPAP! There are plenty of new sessions to keep you updated in the industry, such as our Great Debate panel that was so popular last year with a brand new topic.

Valuation 195
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April Newsletter-Markets Still Flying

DW Slater Company

Azalea District, Tyler, TX. “Winter’s done, and April’s in the skies, Earth, look up with laughter in your eyes!” Charles G. D. Roberts. It has been an unusual April in North Texas this year and one of the windiest on record! The picture above was taken in the Azalea District in Tyler, TX a day before high winds came through and uprooted many trees in the area.

Marketing 162
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CrossCountry strikes a deal to acquire LendUs

Housing Wire

Ohio-based CrossCountry Mortgage has entered into an agreement to acquire California-based retail lender LendUs , multiple sources familiar with the deal told HousingWire. . Founded in 2003 by mortgage broker Ron Leonhardt, CrossCountry originated $52 billion in mortgages in 2021, up 22% year-over-year, checking in as the 17th biggest lender in the country, according to Inside Mortgage Finance.

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Housing Share of GDP Edges Higher at Start of 2022

Eyes on Housing

Housing’s share of the economy edged higher at the start of 2022 due in part to a surprise drop in growth. For the first quarter of 2022, overall GDP growth declined at a 1.4% annual rate, driven by increased inventories and a jump in imports. Housing’s share of GDP increased to 16.7%, somewhat off a 14-year high of 17.8% during.

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What’s New in Appraisal Membership: April 2022

Appraisal Buzz

McKissock’s Unlimited Learning Members enjoy 24/7 access to a wide variety of online appraisal classes, webinars, videos, podcasts, checklists, job aids, and other resources. Plus, we’re adding to our library each month so that you get the most current and relevant information to grow your real estate appraisal career. Do you already have an Unlimited Learning Membership?

Appraisal 195
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A Room-by-Room Guide to Eco-Friendly Home Modifications and Renovations

Raleigh Realty

Sustainable Renovations for Every Room Whether you buy an older home or a new construction home, there are most likely modifications and renovations you can do to make your new house more eco-friendly. If you are looking to spend less money on your energy bill each month, are looking to downsize your home to live more efficiently, want to reduce your environmental impact, or you want to increase the value of your home before you get it appraised for a new sales listing, there have never been mor

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What a dip in mortgage demand says about the housing market

Housing Wire

Interest in residential mortgage loans fell 8.3% for the week ending April 22, including a sharp decline in purchase applications, which indicates a potential weakness in home sales in the coming months, according to the Mortgage Bankers Association ‘s (MBA) latest survey. Mortgage rates are now firmly above the 5% mark , at the highest level since 2009, depressing both purchase and refinance applications.

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Homeownership Rate Stable at 65.4%

Eyes on Housing

The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate at 65.4% in the first quarter of 2022, which is statistically unchanged from the last quarter reading. The national homeowner vacancy rate slipped to a record low of 0.8%, while the rental vacancy rate increased to 5.8%. The covid-induced data collection restrictions have ended in all areas as.

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New Black Knight Tool Identifies Possible Minority Bias in Home Valuation Process

Appraisal Buzz

Black Knight Inc. has launched CA Risk Profiler Plus, a tool designed to help mortgage lenders, appraisers and appraisal management companies (AMC) identify potential minority bias in the home valuation process. By flagging potentially problematic valuations, CA Risk Profiler Plus enables a more rigorous collateral review process that can help reduce risk exposure for lenders and appraisers and support more equitable underwriting decisions. “Today’s appraisers must balance market dem

Valuation 195
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Sales Comparison Approach is Racist

Appraiserblogs

“…the modern appraisal industry perpetuates racial inequality through its continued use of the “sales comparison approach”… the sales comparison approach persists as the dominant method of assessing home value… the sales comparison approach — the most used method for contemporary residential appraisals — perpetuates inequities through maintaining historical hierarchies and current racialized definitions of comparability…” Appraisers, here’s a YouTube video that you MUST view.

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Opinion: the beginning of the mortgage ice age

Housing Wire

Planet Earth has has gone from a ball of molten rock to ice, and then, to the climate we have today. Just like Earth, mortgage rates and housing markets are cyclic and we’re heading into another Ice Age. Find me a sales meeting in the U.S. that didn’t talk about the cycle. There is a broker in charge talking about the spring buying season and an elder mortgage sales manager talking about some interest-only (IO) loan or ARM from 1990 that was 8%.

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GDP Unexpectedly Decreases in the First Quarter

Eyes on Housing

In the first quarter of 2022, real GDP declined for the first time since the pandemic recession, as inflation surged to a 40-year high and supply chain disruptions remain persistent. This quarter’s decrease reflected a deceleration in private inventory investment, decreases in exports and government spending and an increase in imports. According to the “advance” estimate released by the Bureau.

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Delinquency Rate Drops To Record Low

Appraisal Buzz

Black Knight Inc. has released a “first look” the latest iteration of its Mortgage Monitor Report for March 2022, which looks at delinquency and foreclosure rates across the U.S. According to Black Knight’s data, March usually sees the strongest performance of any month; delinquencies typically fall by an average of 10% during the month, but March … The post Delinquency Rate Drops To Record Low appeared first on DSNews.

Appraisal 195
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Refuting the Negative Race Bated Accusations

Appraiserblogs

We will sink under the weight of all the so-far unproved accusations. Appraisers, Tobias J. Peter, Assistant Director, AEI Housing Center Research Fellow, American Enterprise Institute (AEI), has weighed in on all the negative press and faulty ‘studies’ (by both GSE’s and others) that have been promulgated about how appraisers, as a whole, have systemic racism built-in when doing property inspections and appraisal reports.

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Rocket offers voluntary buyouts to 8% of workforce

Housing Wire

Rocket Companies CEO Jay Farner. Even the biggest mortgage players aren’t immune to the effects of higher rates and tight housing inventory. Rocket Companies , the parent of Rocket Mortgage and Amrock Title , said late Monday that it would be offering buyouts to 8% of its staff at its mortgage operations and title teams. The company has roughly 26,000 employees , spread across its headquarters in Detroit and in Cleveland.

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FHA-Share of New Home Sales at 15-Year Low

Eyes on Housing

NAHB analysis of the most recent Census estimates concerning sources of financing for new home sales reveals that conventional loans accounted for 78.5% of new home sales in the first quarter of 2022, the highest share in more than a decade. Conventional loans financed over three-quarters of new home sales in the second quarter of 2008 before steadily falling and bottoming out at 57.3%.

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Guild Mortgage Teams With The Home Depot to Bundle Energy-Efficient Appliances with a Home Loan

Appraisal Buzz

Guild Mortgage recently introduced GreenSmart Advantage, a new program in partnership with The Home Depot to help homebuyers save on utility costs and manage multiple payments by bundling the cost of new energy-efficient appliances into their home loan. . The program helps homebuyers reduce potential utility bills by purchasing new energy-efficient appliances, including refrigerators, clothes washers and dryers, dishwashers, and smart thermostats.

Mortgage 195
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Appraisers Liable for Third Parties Data

Appraiserblogs

Ultimately the appraiser is responsible and liable for data collected by third parties. There has been a lot of discussion and debate among appraisers around liability issues for data collected by third parties for hybrid and desktop appraisals. On April 22, 2022, the Maryland Commission of Real Estate Appraisers cautioned its appraisers that they are responsible for the data they rely upon.

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Mr. Cooper lays off workers as originations nosedive

Housing Wire

Add Mr. Cooper Group to the list of mortgage originators and servicers reducing staff: pink slips arrived for 250 employees in the first quarter, as the company faced declines in the earnings from loan originations. And the company is forecasting a few tough origination quarters ahead. “While the mortgage industry experienced record high origination volumes in recent years and resources were scaled up to meet consumer demand, the industry now faces higher interest rates leading to lower originat

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March Gains in Personal Income

Eyes on Housing

The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income increased 0.5% in March after a 0.7% gain in February. Gains in personal income are largely driven by increases in compensation of employees. However, it was 11.6% lower than a year ago when US government implemented stimulus packages to cope with COVID-19 crisis.

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Mortgage Capital Trading Announces News Hires, Promotions

Appraisal Buzz

Mortgage industry veteran Scott Holtz recently joined Mortgage Capital Trading , Inc. (MCT), a fully-integrated provider of capital markets services and technology, as a member of the sales team in the South Region. Also, Peg Eaton has joined the comp[any as a regional account executive for the Northeast and Great Lakes Regions. In addition, Ben Itkin has been promoted to head of sales, while Boulton Brynteson and Chad Stone have been promoted to regional account.

Mortgage 195
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Appraisal delays driving you bonkers?

Midtown Appraisal Group

There are a bunch of reasons why they’re happening. If you’ve been involved in the sale of a residential property in Ontario in the past 3 years – whether as a vendor, purchaser, real estate agent, mortgage broker or lawyer – you know that residential appraisals seem to take longer than they used to. Unfortunately, […].

Appraisal 101
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FHFA unveils GSE duty to serve plans

Housing Wire

The Federal Housing Finance Agency today released Fannie Mae and Freddie Mac ’s long-awaited duty to serve underserved markets plans. In the plans, both government-sponsored enterprises explain how they will provide financing for manufactured and rural housing, and support affordable housing preservation. Although the lesser of the two government-sponsored enterprises by size, Freddie Mac was alone in committing to purchasing manufactured homes not titled as real property, or chattel loans, a ke

Finance 381
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Student Housing Investment Recovering from the Pandemic

Eyes on Housing

Private fixed investment in dormitories stood at a seasonally adjusted annual rates (SAAR) of $3.08 billion in the last quarter of 2021, according to the data released by Bureau of Economic Analysis. Student housing investment was 2.9% higher over the third quarter of 2021. However, private fixed investment in dorms was 20% below the last quarter of 2020 and 32%.

Investing 153
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HUD Backs Biden Administration’s Solar Goals

Appraisal Buzz

Residents of HUD-assisted properties in the D.C. region will be able to access new solar program without experiencing an increase in their housing costs. The post HUD Backs Biden Administration’s Solar Goals appeared first on DSNews. The post HUD Backs Biden Administration’s Solar Goals appeared first on Appraisal Buzz.

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Best Facebook Groups for Real Estate Appraisers

McKissock

Engaging in online forums and social media groups for real estate appraisers can be a great way to keep up-to-date on industry news , ask questions, connect with other appraisers, and even get referrals. But with so many options out there, it may be difficult to determine which groups are worth joining. To help you narrow it down, we asked our appraisal community, “What’s the best Facebook Group for real estate appraisers?

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AIME CEO Katie Sweeney on the importance of agility in the current market

Housing Wire

The HousingWire award spotlight series highlights the individuals who have been recognized through our Editors’ Choice Awards. Nominations for HousingWire’s Women of Influence award are now open through Friday, April 29, 2022. Click here to nominate someone you know — it can even be you! In the midst of the current market volatility, many lenders are looking for ways to grow their broker channels in an effort to initiate and build relationships with borrowers.

Marketing 370
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5 Ways to Become the Office Hero with GoFormz Digital Forms

GoForrmz

Become the office hero by transforming your inefficient workflow processes into digital forms with GoFormz Everybody wants to be a hero. Whether you've been working your job for ten years or ten minutes, there's one surefire way to make waves: help your team transform traditional paper forms with document automation solutions. From sustainability efforts to real-time data collection, there are endless reasons to move away from paper processes.

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