Housing Wire

FEBRUARY 25, 2022

The Pontiac-based wholesale lender filed two lawsuits on Wednesday in Michigan federal court accusing broker partners of breach of contract for originating mortgages to its competitors. A warranty in the addendum said that if brokers submitted loans to Rocket or Fairway, it would constitute a breach of contract.

Contracts 370

Contracts Brokerage Investing Mortgage 370

McKissock

MARCH 2, 2021

Here are five excellent resources offered by McKissock Learning—including a Pro-Series webinar on Wednesday, March 17, 2021, “ The Market Value Doesn’t Support the Contract Price, Now What? ”. Webinar: The Market Value Doesn’t Support the Contract Price, Now What? Blog post: Advice for Working with Difficult Clients.

Appraisal 103

Appraisal Contracts Market Value Clients 103

Housing Wire

FEBRUARY 4, 2022

” In March 2021, UWM CEO Mat Ishbia announced on Facebook Live that mortgage brokers who did business with Rocket Mortgage or Fairway Independent Mortgage could not also send loans to UWM as of March 15. As independent brokers we need to be able to shop for the best terms and best programs for our clients, the American people.”

Legal 370

Legal Contracts Business Mortgage 370

Housing Wire

NOVEMBER 1, 2023

I was speaking to someone the other day who said, ‘If you’re in this business [mortgage lending], I can’t see a downside to a recession.’” These are the folks who are buying right now, and I you know because some of them are my clients.” trillion to $1.64 trillion, according to the MBA’s forecast. “We

Mortgage 441

Mortgage Loan Officers Finance Buyers 441

Housing Wire

FEBRUARY 3, 2022

Goldman Sachs ’s analysts wrote in a report to clients on January 6 that, overall, they remain negative on the group of nonbank mortgage originators for this year. The spread, which was 1.94% in the second quarter of 2020, declined to 1.19% in the final quarter of 2021. trillion in 2022, according to the trade group.

Mortgage 384

Mortgage Retail Finance Investors 384

Housing Wire

DECEMBER 16, 2021

Interfirst’s ability to grow rapidly in a low-rate, refi environment but then struggle and contract when the market turns could be seen as a cautionary tale, even in an industry as cyclical as mortgage. Clients upload all documents into their loan origination system directly to reduce/eliminate operational staff. 375% below the market.”

Mortgage 370

Mortgage Loan Officers Retail Training 370

Housing Wire

SEPTEMBER 22, 2021

As of August 2021, more than 10.2 In addition to self-employed workers, the “gig” economy — or independent contractors and freelancers who do short-term work for multiple clients — continues to grow. Bill Dallas: Today’s borrowers generate income in various ways and have different household compositions than previous generations.

Finance 370

Finance Technology Lending Mortgage 370

Housing Wire

JANUARY 27, 2023

The majority of lenders easily lost half of the volume last year that they originated in 2021, and LOs who have their own databases to tap into are highly sought after. California-based retail lender JVM Lending plans to drum up business this year — but by doing the exact opposite.

Lending 397

Lending Real Estate Agent Loan Officers Retail 397

Housing Wire

DECEMBER 29, 2021

To that end, Berneman’s Nashville-headquartered company recently launched a portal that allows real estate professionals and their clients to keep track of the title process. In order to achieve this goal, Simkoff is working to grow DOMA’s current technological offerings and is looking to expand into the lending and appraisal space.

Insurance 397

Insurance Real Estate Technology Business 397

Housing Wire

NOVEMBER 3, 2023

Other threats Another lawsuit filed by REX in March 2021 against the trade group and Zillow , alleges anti-trust violations related to an NAR rule, known as the no-commingling rule, that prompted Zillow to separate non-MLS listings from MLS listings on its website, including listings from REX. “He got up to 20% to 30%, as I recall.”

Real Estate 324

Real Estate Brokerage Buyers Property Management 324

Realtor

JULY 13, 2021

year over year, according to the Realtor.com June 2021 Housing Market Trends Report. The provisions of a contingency contract are there to protect buyers and sellers. Surprisingly, this one often gets overlooked or waived, but I would never encourage a client to do that,” DeSimone says. Other experts agree.

Inspection 203

Inspection Real Estate Agent Real Estate Buyers 203

Appraisal Today

MAY 10, 2024

VA’s Tidewater Initiative written in 2021 by McKissock (Similar idea as current ROV changes), effective in 2003. I have never done an “official” ROV for a lender, but I did not like any lender clients objecting to my values. And if you work in real estate, be prepared to serve clients in all stations of life.

Reconsideration of Value 71

Reconsideration of Value Appraisal Real Estate Insurance 71

Appraisal Today

DECEMBER 8, 2023

The first question to talk about is this: “Does the real estate appraiser have any ethical, moral, or legal responsibility to protect the consumer/mortgagor2, 3, 4 when appraising a property for a mortgagee/client?”… ”… Question 2: does the lending industry owe the appraiser a living? percent from 7.37

Appraisal 67

Appraisal Real Estate Contracts Design 67

Eppraisal

APRIL 20, 2021

According to a homebuyinginstitute.com article, in February of 2021, there were fewer home for sale than in February 2020. According to an article on Realtor.com, there were 52% less homes on the market in March of 2021 than in March of 2020. A mortgage company will not lend more money than the house appraises for.

Sellers 66

Sellers Loan Officers Inventory Home Value 66

McKissock

APRIL 20, 2021

Despite your chosen work schedule, you’ll have to juggle clients who generally want their agents to be available around the clock. Receive basic training in contracts and how to price properties using comparative marketing analysis. Finding time for part-time real estate. Set clear expectations upfront about your availability.

Real Estate Agent 98

Real Estate Agent Real Estate Agents Realtors 98

Appraisal Today

APRIL 21, 2023

Increased numbers of state appraisal boards are looking at complaints against appraisers from the standpoint of the consumer, rather than that of the client and/or the intended user(s). As all appraisers are aware, the consumer has no standing with the appraiser (assuming the consumer is not the named client or intended user).

Appraisal 52

Appraisal Contracts Modernization Mortgage 52

Appraisal Today

MAY 19, 2023

They can tell their clients that their data collectors are qualified, as compared with their competitors. Getting on AMC lists does not require any marketing, such as business from almost any other type of client. I would love to have all my clients email me the appraisal order. I learned a lot. I understand completely.

Appraisal 52

Appraisal Business Contracts Real Estate 52

Housing Wire

APRIL 21, 2022

But Carrie Gusmus , President and CEO of Aslan Home Lending Corporation, has a more positive outlook despite the current headwinds. Homebuyers may feel the pinch of the higher payment based on the higher rate, but they may also be more successful at getting a home under contract and closed.”.

Mortgage 384

Mortgage Contracts Technology Lending 384

Listing Spark

JUNE 21, 2022

Back then, terrible lending regulations, a surplus of inventory, and little to no equity for homeowners was a recipe for disaster. So, don’t panic if your home doesn’t have a contract in the first week or two of being on the market. . This is the first increase since June 2021. this April, up from 1.1 in the month of March.

Sellers 69

Sellers Housing Market Marketing Inventory 69

Appraisal Today

FEBRUARY 23, 2024

I find myself scouring 2021 onward especially. The truth is there are portions of 2021 and 2022 where prices are exactly the same as today too, so if I use an older comp, I don’t always need to adjust for the way the market has changed. The average contract interest rate for 15-year fixed-rate mortgages increased to 6.61

Appraisal 68

Appraisal Real Estate Contracts Reconsideration of Value 68

Appraisal Today

OCTOBER 28, 2022

About one-fourth of Americans (24%) believe they’ve lived in a real haunted house, down from the 44% who said the same in 2021, when people spent more time at home. Today, 69% of Americans believe in the paranormal — down from 76% in 2021 and 70% in 2020. Communicating with non-lender clients: Very, very different than lenders!!

Appraisal 52

Appraisal Contracts Mortgage Valuation 52

Appraisal Today

JUNE 10, 2022

Recall the five forces of friction: practices, standards, education, regulation, and client expectation. The Inevitable Cyclicality of Mortgage Lending. Communicating with non-lender clients: Very, very different than lenders. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 5.30

Appraisal 52

Appraisal Contracts Business Mortgage 52

Appraisal Today

FEBRUARY 24, 2023

. = Surviving the Current Slowdown by Kendra Budd, Editor, Working RE Excerpts: While the actual volume of appraisal work has only declined to the equivalent of a slow month in 2018 or 2019, the volume of appraisals has declined over 60 percent from the busiest month in 2021 compared to the later (slower) months of 2022. percent from 6.39

Appraisal 52

Appraisal Architecture Valuation Business 52

Cleveland Appraisal Blog

MARCH 30, 2021

Within the past couple of weeks, I have appraised several properties for purchases, where my opinion of the market value of these homes was significantly below the contract price. When an appraiser’s opinion of value is below the contract price, that’s when the carping begins. There is just not much out there to buy.

Housing Market 367

Housing Market Marketing Reconsideration of Value Contracts 367

Housing Wire

JULY 19, 2023

The pace of M&A deals in the IMB market in 2022 and projected for 2023 combined is expected to be more than double the mark set during the unicorn lending years of 2020 and 2021, according to one recent industry analysis. Graham said it’s easy to track stock deals involving IMBs because there are so many public filings.

Mortgage 370

Mortgage Marketing Buyers Lending 370

Appraisal Today

APRIL 12, 2024

Insurance purposes: Lenders or other clients may order desktop appraisals for insurance purposes to determine the property’s replacement cost or insurable value. But if for lending, it might be rejected on review by GSE computers or humans. In 2021, local developer Stuart Price snapped up the five-bedroom, four-bath home for $2.5

Appraisal 78

Appraisal Construction Contracts Architecture 78

Housing Wire

JUNE 28, 2021

He started contracting with home mortgage lenders to appraise the value of the property tied to a loan. “It But DeZarn was an independent contractor business of one, and he lost his clients in 2008 when the housing market imploded. AMCs business model is to snare contracts from mortgage lenders, and serve as their appraiser middleman.

Appraisal 410

Appraisal Valuation Business Contracts 410

Housing Wire

APRIL 27, 2023

And yet another big force in the market, FirstKey Homes , is pulling collateral out of a 2021 securitization deal. The company serves as a data warehouse and deep analytics platform that integrates client data with other public and private data sources to create powerful market assessment and forecasting tools.

Renovations 382

Renovations Investing Real Estate Marketing 382

Appraisal Today

JANUARY 12, 2024

5 The time period covered, the third quarter of 2018 through the fourth quarter of 2021, includes all the UAD data available to FHFA when the analysis began. I always made them and never had any complaints from my lender clients. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 6.56

Appraisal 68

Appraisal Contracts Mortgage Marketing 68

Appraisal Today

SEPTEMBER 29, 2023

As the graph indicates it’s been a roller coaster ride, but generally speaking up to late in 2021 to early in 2022, it’s been financially rewarding for many appraisers. Some appraisers, a true minority, have been able to transition to private, non-mortgage-lending appraisal work, but that’s not as easy as some advocate. percent from 0.4

Insurance 79

Insurance Appraisal Contracts Mortgage 79

Appraisal Today

SEPTEMBER 17, 2022

Excerpts: When adjusted for inflation, lot values are now close to the record levels of the housing boom of 2005-2006 when half of lots were valued over $43,000, which is equivalent to about $57,800 when converted into inflation-adjusted 2021 dollars. This 2% market share for 2021 represents a decline from years prior to the Great Recession.

Appraisal 52

Appraisal Construction Contracts Insurance 52

Appraisal Today

DECEMBER 9, 2022

This strategy often backfires because parties involved in the lending process cannot find the specific information they are looking for in the report. I did this sometimes in appraisals for a local bank ;> Your clients hate them also. Reduce lengthy commentary. Inconsistent commentary can result in common requests for revision.

Appraisal 52

Appraisal Contracts Business Mortgage 52

Appraisal Today

NOVEMBER 20, 2022

FNMA indicates that their 2022 lending volume is down 47% from 2021 and is expected to drop by another 50% in 2023. Mike Fratatoni, Chief Economist and Senior Vice President of Research and Industry Technology of MBA, mentioned that in 2021 there were over 13.5 Failures to personally inspect and photograph comparables.

Appraisal 52

Appraisal Real Estate Agent Real Estate Contracts 52

Will Springer Realtor

DECEMBER 14, 2021

What did we see in 2021 Seattle/King County homeowners that were on the ball likely timed their sales at one of the highest temperatures of market hotness in recent years. days (November 2021). =. Buyers will continue to outstrip sellers by a significant margin but less extreme than in 2021. established at the start of 2021.

Real Estate 69

Real Estate Buyers Construction Sellers 69

Will Springer Realtor

JANUARY 7, 2022

The industry is prepared for another high-demand, low-inventory year, even if conditions do not quite hit the fever pitch of 2021. The 2021 real estate market was incredibly hot and will be hard to beat,” said Lennox Scott, CEO of John L. If a client already has 2.5% Scott Real Estate. alone over the last several years?”.

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Construction Real Estate Inventory Buyers 36