Housing Wire

MARCH 8, 2023

These include excessive late fees and fees for unnecessary property inspections. The CFPB also described its findings related to unnecessary property inspection fees, stating that mortgage servicers charged consumers between $10 and $50 “for every property inspection visit to addresses that were known to be incorrect.

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Mortgage Inspection Law Contracts 322

Housing Wire

MARCH 22, 2021

Homebuyers who offer all-cash improve their chances of winning a bidding war by 290%, per Redfin’s study of clients buying homes between June 2020 and February 2021. And waiving the financing contingency is the second-most effective bidding-war strategy, Redfin officials said – improving homebuyers’ odds of winning by 66%.

Inspection 545

Inspection Inventory Buyers Sellers 545

Housing Wire

JUNE 23, 2022

Ginnie’s delinquency reporting exemptions were first announced in mid-2020. At the time, the guarantor said it would exclude any new issuer delinquencies occurring on or after April 2020 in recognition that delinquency rates would likely swell in response to government-mandated forbearance. 30, 2022.

Inspection 382

Inspection Government Finance Development 382

Housing Wire

SEPTEMBER 23, 2021

Remote inspections have the power to make homeowners and appraisers more comfortable. Incenter Appraisal Management’s new remote appraisal inspection tool streamlines the appraisal process while ensuring appraisers stay in control of the inspection and data collection.

Appraisal 343

Appraisal Inspection Technology Tools 343

Housing Wire

OCTOBER 26, 2020

When it comes to common pain points lenders are seeing in the second half of 2020, handling high loan volumes continues to loom large. Its strong company culture was also recognized in 2019 and 2020 earning a certification as a “Great Place to Work.”

Clients 368

Clients Valuation Technology Inspection 368

Housing Wire

JULY 29, 2022

Home sales for June declined by nearly 16% year over year in June, the Redfin report shows, “the largest decline since May 2020.”. The dip in competition often allows homebuyers to make less risky offers that avoid waiving protections like home inspections and appraisal contingencies. year over year as of June, to $480,000.).

Inventory 457

Inventory Housing Market Inspection Marketing 457

Housing Wire

JUNE 9, 2022

RenoFi’s variable rate HELOC option, which was introduced in 2020, offers loans ranging from $25,000 to $500,000. An estimated 140,000 renovated properties purchased at foreclosure auction or bank-owned auction were resold to owner-occupant buyers between January 2020 and December 2021. Presented by: Auction.com.

Renovations 314

Renovations Finance Inspection Buyers 314

Appraisal Buzz

AUGUST 9, 2021

Not so long ago, there were very few appraisers that knew about property inspection waivers. For example, the 2020-2021 USPAP will now be effective until December 31, 2022. The GSEs implemented policy around the COVID-19 pandemic to temporarily allow for flexibility in reporting and inspecting/observing properties.

Appraisal 435

Appraisal Inspection Lending Business 435

Appraisal Buzz

OCTOBER 27, 2021

When I walked into the Chicago Urban League in November 2020, I would have never thought I would be where I am now. I was awarded this scholarship in December 2019, but didn’t really start courses until February 2020 as my job at the moment was very demanding. It all felt serendipitous.

Appraisal 358

Appraisal Inspection Real Estate Development 358

Housing Wire

MARCH 23, 2021

Aqil Ahmed: The year 2020 was an unprecedented one, with the global pandemic and economic uncertainty impacting each of us in one way or another. Use of an automated valuation model (AVM) paired with a property inspection has alleviated some of the capacity constraints in the workforce while saving time and costs for consumers.

Appraisal 322

Appraisal Valuation Inspection Modernization 322

Appraisal Buzz

FEBRUARY 7, 2022

Prior to 2020, the most common appraisal label in the mortgage origination ecosystem was the Full Appraisal. The onset of the Covid-19 pandemic in 2020 introduced two new appraisal labels – the Exterior-only Appraisal and the Desktop Appraisal. Appraisal Labels. interior and exterior). Lenders rely on regulation and policy.

Appraisal 435

Appraisal Inspection Development Technology 435

Housing Wire

DECEMBER 8, 2022

In 2020 and 2021, for example, some markets saw appraisals take as long as three to six weeks. Another appraisal innovation is Freddie Mac’s ACE+ PDR product (automated collateral evaluation plus property data report) solution, which involves an inspection-based waiver and has been in effect since July.

Appraisal Process 371

Appraisal Process Appraisal Logistics Valuation 371

Housing Wire

FEBRUARY 7, 2022

Fannie Mae understands the story of housing in America includes a history of systemic racism,” CEO Hugh Frater wrote in June 2020. As of 2020, Fannie Mae’s REO portfolio is 17,500. Amid protests set off by George Floyd’s death, Fannie Mae ’s CEO issued a public statement about its commitment to racial equity.

Inspection 377

Inspection Design Government Real Estate 377

Housing Wire

DECEMBER 24, 2020

Porch, a home services marketplace with partners in insurance, utilities, home inspection and moving, plans to use the cash to pursue acquisitions to seize the opportunity in real estate. For the first six months of 2020, Porch’s revenue fell to $32 million though its losses also dropped to about $25 million.

Inspection 327

Inspection Insurance Finance Valuation 327

Appraisal Buzz

MAY 19, 2021

The best post could be the craziest DIY project you encountered on an inspection, the funniest appraiser joke or story (must be original), a conversation starter that gets people talking, a buzz cartoon relating to the industry, or just tell your favorite Buzz staff member what a great job they are doing. They could be worth a free ticket!

Valuation 243

Valuation Inspection Appraisal Housing Market 243

Housing Wire

JUNE 10, 2022

In 2016, New York passed a law establishing that lenders and servicers must inspect, secure and maintain zombie properties — which are defined as vacant and abandoned homes whose owners are behind on their mortgage payments. . When the Covid-19 pandemic began in March 2020, zombie properties were one of the industry’s greatest fears.

Law 378

Law Inspection Mortgage Finance 378

Housing Wire

JANUARY 15, 2021

Porch, led by CEO Matt Ehrlichman, acquired home insurance company Homeowners of America , mover marketing and data firm V12 , home inspection company Palm-Tech and roofing contractor software company iRoofing. In all, Porch spend $122 million, according to disclosures made to the Securities and Exchanges Commission. .

Insurance 347

Insurance Logistics Technology Inspection 347

Housing Wire

JANUARY 3, 2022

Employing computer vision and machine learning help streamline the inspection process, lower the cost of collateral underwriting, and reduce the time it takes to get collateral approval.”. With a desktop appraisal, appraisers do not need to drive from property to property to complete an in-person appraisal.

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Tools Appraisal Appraisal Process Real Estate 399

Housing Wire

OCTOBER 28, 2021

Porch, which went public via SPAC in 2020, announced late last year that it was on the hunt to acquire companies that would give the firm more solid footing in the homeownership space. Floify’s software is used by over 1,500 companies and the company has a 130% annual net revenue retention as of the second quarter, Porch said.

Mortgage 383

Mortgage Logistics Insurance Real Estate Agent 383

Housing Wire

JUNE 24, 2021

The all-cash contract signed between Accept.inc and the seller is still contingent on a satisfactory inspection that can be negotiated between the buyer and agent. It was originally launched under the name BoardRE before its rebranding in 2020. The home is then sold back to the buyer at the same price that it was purchased for.

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Sellers Buyers Investors Inspection 335

Housing Wire

OCTOBER 14, 2020

We’ll also get a glimpse into the rise of property inspection waivers and potential secondary market impact. To go back to the full HousingWire Annual 2020 on demand summit, go here. Changes in culture, society, how we all work and live – it all ends up in capital markets,” said Koss. Watch the full session below.

Marketing 209

Marketing Retail Inspection Investors 209

Housing Wire

JANUARY 13, 2021

Are borrower-assisted inspections here to stay? When lenders were struggling to meet capacity for most of 2020 and turn times eclipsed 30-plus days, many fingered appraisals as contributing to the logjam.

Appraisal 334

Appraisal Real Estate Agent Inspection Valuation 334

Housing Wire

FEBRUARY 21, 2023

Real estate agents, brokers and other qualified third parties offer inspection support, aided by sophisticated cameras and guided by GSE-mandated standards for data collection. For appraisals, the automated confirmation can include the inspector’s photo and vehicle type.

Modernization 325

Modernization Technology Real Estate Agent Valuation 325

The Appraiser Coach

JULY 25, 2023

When the pandemic hit us full force in 2020, business skyrocketed. We had never been busier! If I had tried to do everything the same way I. Read More

Clients 195

Clients Business Inspection Advertising 195

Housing Wire

OCTOBER 29, 2021

Dave Steinmetz: Starting in early 2020, we worked to scale production with the challenges presented by the combination of the pandemic and record volumes. EXOS Inspect is a mobile app that allows borrowers to conduct their own home inspections when a traditional appraisal is not required, such as in home equity lending.

Inspection 295

Inspection Technology Clients Tools 295

Appraisal Buzz

NOVEMBER 22, 2021

Last October, I left my office to perform an exterior inspection for an appraisal in Mauldin, South Carolina. Looking back to the example from October 2020, my biggest mistake in the case of the foul-mouthed, bullhorn mentioned above was that I never contacted the homeowner to ask about improvements relative to my secondary data.

Inspection 195

Inspection Real Estate Agent Appraisal Real Estate 195

Appraisal Buzz

JUNE 4, 2021

When I walked into the Chicago Urban League in November 2020, I would have never thought I would be where I am now. I was awarded this scholarship in December 2019, but didn’t really start courses until February 2020 as my job at the moment was very demanding. It all felt serendipitous.

Appraisal 195

Appraisal Inspection Real Estate Development 195

Appraiserblogs

APRIL 14, 2022

This link has the story: Judge finds plausible race discrimination in Black couple’s lawsuit over lowball appraisal | Courthouse News Service Appraiser Janette Miller with Miller and Perotti Real Estate Appraisers was hired by appraisal services company AMC Links to do the inspection in January 2020.

Appraisal 118

Appraisal Inspection Real Estate Marketing 118

Empire Appraisal Group

MAY 11, 2023

NEWS & MEDIA sturti, E+, Getty Images Source: Some Homeowners Regret Pandemic Purchases | Florida Realtors Some Homeowners Regret Pandemic Purchases By Devan Markham A number of people who bought homes during the bidding wars – often foregoing inspections and making offers sight-unseen – are discovering problems with the property.

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Inspection Real Estate Sellers Realtors 78

Housing Wire

MARCH 18, 2021

Alyssa Loflin, a Pueblo real estate agent, said buyers are so eager to get into Pueblo West, they are submitting offers “way over” asking price on homes and, in some cases, forgoing inspections to close quicker. “Houses around $300,000 are like the golden ticket,” she said. Builders in Pueblo, aren’t immune.

Housing Market 541

Housing Market Marketing Real Estate Agent Buyers 541

Appraisal Buzz

JUNE 14, 2021

Appraisers are starting to get one-off requests from Fannie and Freddie for more information and an interior inspection, even though the property already had a COVID-alternative accepted. While appraisal waivers created ease in the mortgage process during the 2020 pandemic, they have convoluted the property valuation process immensely.

Appraisal 435

Appraisal Appraisal Process Technology Housing Market 435

Housing Wire

DECEMBER 6, 2021

They refinanced their mortgage in 2018 and 2019, and sought to do so again in 2020. This friend, “placed some of her own family photos, depicting her white family” around the house “prior to the inspection.”. Over the next four years, the couple completely remodeled the home, and later added an accessory dwelling unit.

Appraisal 386

Appraisal Valuation Development Real Estate 386

PennyMac

APRIL 2, 2020

Step 7: Schedule a Home Inspection (and Other Tests). The first thing that most homebuyers do is to schedule a home inspection. During an inspection , nearly all features and systems of your home will be checked and evaluated, with both the homebuyer and seller receiving a report on the home inspector’s findings.

Real Estate Agent 36

Real Estate Agent Inspection Sellers Agents 36

Housing Wire

MARCH 21, 2022

When the Covid-19 pandemic began in March 2020, zombie foreclosures were one of the housing industry’s greatest fears. During the Great Recession, “zombie foreclosures” were a thorn in the side of servicers. With no money to pay their mortgages, some underwater borrowers simply abandoned their homes.

Law 344

Law Inspection Insurance Government 344

Appraisal Buzz

JUNE 6, 2022

We’ve all gotten a presumably as-is appraisal assignment, gone out to inspect, and learned at the inspection that the master bathroom is gutted. One of the new FAQ’s in the 2020-2021 version of USPAP, FAQ 145, makes clear that changes to assignment elements during the course of an assignment do not constitute a new assignment.

Appraisal 221

Appraisal Clients Appraisal Process Inspection 221

The Appraiser Coach

JULY 25, 2023

When the pandemic hit us full force in 2020, business skyrocketed. When things pick up again (will we ever see another 2020-2021 again?), We had never been busier! If I had tried to do everything the same way I did before, hiring someone just to turn down offers wouldn’t be a joke. But then, we had to do it regularly.

Clients 195

Clients Business Appraisal Design 195

Housing Wire

JANUARY 31, 2021

It includes property preservation data, such as vacancy checks and inspections for damage repairs, foreclosure title status and title clearance information and claimable vs non-claimable expenses, current status for properties in auction, and more. HW: How has the volatility of 2020 emphasized the importance of EXOS One Marketplace?

Investors 205

Investors Real Estate Valuation Tools 205