Housing Wire
APRIL 18, 2024
Existing home sales fell in today’s report , which isn’t surprising, but one headline that shocked some people was that home prices are still up year over year, even with higher inventory and higher mortgage rates. From NAR : The median existing home price for all housing types in March was $393,500, an increase of 4.8% from the previous year ($375,300).
Appraisal Buzz
APRIL 17, 2024
Mortgage application volume increased 3.3% during the week ended April 12, driven mainly by a 5% increase is purchase applications, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Compared with the same week one year ago, applications for purchases were up 6%. Applications for refinances increased 0.5% compared with the previous week and were up 11% compared with the same week one year ago.
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Housing Wire
APRIL 15, 2024
Fannie Mae and Freddie Mac will not count buyer’s agent commissions as part of their allowable interested party contributions (IPCs), according to announcements from the government-sponsored enterprises (GSEs) on Monday. The GSEs noted that this guidance was not an update to their selling guides but a clarification on the treatment of seller-paid real estate agent fees.
Appraisal Buzz
APRIL 15, 2024
By now, most appraisers are aware that Fannie Mae and Freddie Mac (GSEs) have embarked on a complete overhaul of the Uniform Appraisal Dataset (UAD). UAD originated in 2010 and since then we appraisers are accustomed to using codes like “C4,” “N;Res,” and “1200sf0sfin” in our mortgage appraisal reports to communicate the results of our analysis. These codes, or language, make sense to appraisers but confuse uninitiated readers of our reports.
Sacramento Appraisal Blog
APRIL 16, 2024
Everyone is entitled to an opinion, but I find some people sounding off about housing seem disconnected from the actual market. I want to talk about that below and share some trends. Skim by topic or digest slowly. UPCOMING SPEAKING GIGS: 4/25/24 HomeSmart iCare Realty (details TBA) 4/26/24 Prime Real Estate (private) 5/9/24 Empire Home […] The post Strong opinions about the housing market first appeared on Sacramento Appraisal Blog.
Real Estate News
APRIL 16, 2024
PulteGroup, which potentially has thousands of claims as a seller, raised concerns about “needless and time-consuming” paperwork and lack of transparency.
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Inman
APRIL 17, 2024
Fannie, Freddie and FHA say sellers can continue to pay the buyer's agent's commission. But it remains to be seen if buyers will be allowed to finance their agent's commission into their mortgage.
Real Estate News
APRIL 16, 2024
The federal finance giants clarified their policies, confirming that buyer agent compensation won't be applied to concession limits.
GoForrmz
APRIL 16, 2024
Originally published on 04/23/2019 Streamline manufacturing procedures with digital and online forms Digital and online forms drastically simplify manufacturing inspections, procedures, and oversight. This is achieved through robust digital capabilities that are unattainable via manual, paper-based processes. One of the most versatile tools is the GoFormz online form builder , which can create customizable digital forms, such as the digital manufacturing checklist.
Housing Wire
APRIL 16, 2024
Today, Federal Reserve Chairman Jerome Powell made statements at the Washington Forum that indicate there will be no rate cuts anytime soon because the economy and the labor market are too strong with sticky inflation. This is a change from previous statements where the Fed talked about the rate cuts it expected to make this year — although that timeframe has changed several times.
Appraisal Buzz
APRIL 15, 2024
LenderLogix , a provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, has released its first-quarter Homebuyer Intelligence Report, a summary of insights into borrower behavior during the home buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process during the first quarter.
Inman
APRIL 18, 2024
The campaign will roll out across print and digital media and comes against the backdrop of commission disruption and intense competition among portals.
Real Estate News
APRIL 18, 2024
No rate relief is expected soon, and home prices are also setting records this spring, suppressing existing home sales.
Eyes on Housing
APRIL 17, 2024
According to the latest What Home Buyers Really Want Study*, the vast majority of home buyers are looking for a home with at least one home office (or space dedicated to work/study). More specifically, 66% would prefer to buy a home with exactly one home office, 13% want at least two offices, and 20% want.
Housing Wire
APRIL 18, 2024
Atlanta-based PulteGroup Inc. , one of the largest homebuilders in the U.S., has filed an objection in the Sitzer/Burnett commission lawsuit following settlements with Anywhere , RE/MAX and Keller Williams. PulteGroup says that the company does not have enough information to adequately determine the amount of money it could recover, among other issues, according to a court filing reviewed by HousingWire.
Appraisal Buzz
APRIL 17, 2024
This week on the Appraisal Buzzcast, host Hal Humphreys interviews Kelly Davids, President of The Appraisal Foundation. Davids discusses her background in the industry and how it led to her new role as president. What is her vision for the future of the industry? How can we all get involved with The Appraisal Foundation? What are some of the initiatives they are launching in the near future?
Inman
APRIL 15, 2024
Global real estate network Leading Real Companies of the World (LeadingRE) has added photography services provider AJ Canaria Creative Services to its Solutions Group, a family of industry vendors it champions to its 550 members.
Real Estate News
APRIL 18, 2024
Two U.S. senators are pushing for policy changes that would reduce “exclusionary” zoning regulations and promote local development.
Appraiserblogs
APRIL 15, 2024
In reality, appraisers have a great story to tell, but we have a long way to go to refocus the terribly flawed “appraiser bias” narrative onto facts and science. Last week’s email from Cindy Chance, the CEO of the Appraisal Institute, marks an important and long overdue shift in the organization’s approach to addressing accusations of bias in the appraisal profession.
Housing Wire
APRIL 16, 2024
In the wake of the recent NAR settlement , coupled with persistently sluggish home sales and high interest rates , real estate agents find themselves at a crossroads marked by uncertainty and unease. Amidst this backdrop, brokerages face a critical task; keeping their agent counts from diminishing. However, with many agents feeling uncertain about their futures, a potential mass exodus from the industry may be looming.
Appraisal Buzz
APRIL 18, 2024
Overall, delinquency rates for commercial mortgages were flat during the first quarter compared with the second quarter, but loans backed by office properties continued to see a rise in delinquencies, according to the Mortgage Bankers Association. “While overall delinquencies remained flat, the delinquency rate for loans backed by office properties rose again during the first three months of this year,” says Jamie Woodwell, head of commercial real estate research for the MBA, in a statement.
Inman
APRIL 15, 2024
The European-style home is located in the Hollywood Hills' coveted Bird Streets. The sale marks a breakthrough for a market that's been crippled by high interest rates and a mansion tax.
Real Estate News
APRIL 16, 2024
During a livestream presentation, Bright MLS’s chief economist highlighted some of the most misunderstood topics or mistaken beliefs about real estate.
Appraiserblogs
APRIL 18, 2024
…whether through redlined maps or implicit “one-mile rule,” the result can be undervalued properties in historically marginalized neighborhoods. Throughout the history of mortgage banking and lending in the United States, underwriting policies have significantly influenced the appraisal process for home purchases and refinances. Appraisers must follow underwriter appraisal review guidelines meticulously to ensure their appraisal reports are accepted by the lender.
Housing Wire
APRIL 18, 2024
Every business is on the brink of significant transformation driven by the potential of Artificial Intelligence (AI) and workflow automation, and the mortgage industry is no exception. With AI’s capacity to perform complex reasoning and manage autonomous operations, it is critical to explore how this technology can reshape industry standards, enhance operational efficiency, and how we as an industry manage its inherent risks.
Appraisal Buzz
APRIL 18, 2024
Existing-home sales plummeted 4.3% in March compared with February, falling to a seasonally adjusted annual rate of 4.19 million, and were down 3.7% compared with March 2023, as rising mortgage rates stopped the rebound heading into the spring home buying season, according to the National Association of Realtors (NAR). Rising home prices also impacted sales velocity: The median existing-home sales price in March increased to $393,500 – up 4.3% compared with March 2023.
Inman
APRIL 18, 2024
Existing-home sales retreated 4.3 percent between February and March to a seasonally adjusted annual rate of 4.19 million, according to data released Thursday by the National Association of Realtors.
Real Estate News
APRIL 16, 2024
A new survey from Real Brokerage offers insight into agent sentiment and how they really feel about the industry changes set to go into effect this summer.
Eyes on Housing
APRIL 18, 2024
After reaching the 12-month high last month, existing home sales retreated in March due to lingering high mortgage rates, according to the National Association of Realtors (NAR). Meanwhile, low resale inventory and strong demand continued to drive up existing home prices, marking the ninth consecutive month of year-over-year median sales price increases.
Housing Wire
APRIL 18, 2024
A former loan officer at Guaranteed Rate (G-Rate) has sued the lender and two managers for allegedly discriminating against her on the basis of gender, failing to compensate her equally to male coworkers with similar performance and subjecting her to sexual harassment. In response, the lender said it’s conducting a detailed investigation into the claims.
Appraisal Buzz
APRIL 16, 2024
Aaron Belovsky has joined subservicer Dovenmuehle Mortgage as chief data officer (CDO). Belovsky has more than two decades of software engineering experience. Most recently, he served as engineering manager at Pixelberry Studios, where he contributed to the company’s go-to-market strategy and coached the organization on agile methodology. In addition, Belovsky has held software engineering and leadership roles across verticals in healthcare, software consulting, hospitality and government sector
Inman
APRIL 15, 2024
Want to increase your impact and improve your business? New Inman contributor Amy Hullet says the key is taking a genuine interest in people and getting out there to meet them where they are.
Real Estate News
APRIL 17, 2024
Get answers to the big questions on everyone's mind: What will happen with inventory and mortgage rates — and will the NAR settlement impact the market?
Appraiserblogs
APRIL 16, 2024
The $29 fee also happens to nearly match the average hourly base salary of $29 for UWM underwriters. United Wholesale Mortgage (UWM) began an aggressive campaign in September 2021 to recruit appraisers for their new Appraisal Direct system, which aimed to cut out appraisal management companies as middlemen. Through repeated emails, they urged appraisers – both current and former, alive or deceased – to partner directly with UWM through ANOW.
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