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Settling on a New Normal for Appraisals in 2022

Appraisal Buzz

Beginning in January 2020, 7% of purchase transactions had a contract price above the appraisal value. Experts expect home price growth to moderate in 2022, but the lessons learned over the past two years are sure to change the industry in the long term. Shifting Toward Modernization. More Remote Contact.

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State of the mortgage industry half-time report

Housing Wire

However, the lenders and loan officers who will be most successful in the second half of 2022 will be those who pivot quickly, understanding both the nuances of the market and the best strategies to help solve problems for today’s homeowners, homebuyers, homesellers, Realtors and financial advisors. Generational nuances.

Mortgage 414
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Existing home sales data shows extent of housing inflation

Housing Wire

Even though this was a beat of estimates, the sales decline trend due to higher mortgage rates and home prices continues. The savagely unhealthy housing market theme of mine is running in full force now as we have gotten no relief on home prices and now have a mega jump in mortgage rates. . million in January of 2022.

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HW+ Member Spotlight: Jeremy Potter

Housing Wire

This week’s HW+ member spotlight features Jeremy Potter, chief evangelist at Stavvy , a 2022 Tech100 Mortgage winner. He has also held leadership roles at Quicken Loans , now Rocket Mortgage , and Normcom Mortgage. He has also held leadership roles at Quicken Loans , now Rocket Mortgage , and Normcom Mortgage.

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The hybrid appraisal is here. Who benefits?

Housing Wire

Beginning July 17, Freddie Mac will accept some mortgages with hybrid appraisals — but the list of caveats is lengthy. Mortgages for manufactured homes, investment properties, duplexes and fourplexes are not eligible. The State of Appraisals in 2022. The seller accepts it; they go into contract. that afternoon.

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Rise above the panic, for the housing market’s sake

Housing Wire

When this back and forth was unfolding, mortgage demand rose 2.9% compared to the week prior and the average contract interest rate for 30-year fixed-rate mortgages with loan balances of $726,200 or less, decreased from 6.48% to 6.45%. We can’t keep turning to 2019-2022 as a benchmark — we were experiencing unprecedented times.

Retail 393
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Help for troubled borrowers is on the way. But will it come soon enough?

Housing Wire

While the family’s income has been cut by almost half and inflation has increased their expenses, Wilen’s primary concern is his mortgage. mortgage for 12 months, and the county where he lives paid three months of his mortgage bill as part of an assistance program. He is afraid of losing his home.

Mortgage 393