Appraisal Buzz

OCTOBER 1, 2022

CoreLogic estimates that residential and commercial property loss from Hurricane Ian’s wind and storm surge damage will make it the costliest storm to hit the Sunshine State since Hurricane Andrew in 1992. The post Hurricane Ian Property Damage Estimated at $28B-$47B in Florida appeared first on DSNews. The post Hurricane Ian Property Damage Estimated at $28B-$47B in Florida appeared first on Appraisal Buzz.

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Appraisal Buzz

SEPTEMBER 17, 2022

According to a new report from Redfin, nearly one-third —or 31.4%— of U.S. home purchases were paid for with all cash in July. That’s near the eight-year high reached in February and up from 27.5% a year earlier. The share of all-cash purchases jumped in early 2021 during the pandemic-driven homebuying frenzy and has remained elevated since … The post Study Finds One-Third of U.S.

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Appraisal Buzz

SEPTEMBER 5, 2022

This is part three of a three part series on appraisal review – Read parts one and two. When interacting with executive managers, I am often posed with the following question “How do you know when you are looking at a “good” appraisal?” The reality is there is no universal acceptance of a single method of measurement to differentiate “good” from “bad.

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Appraisal Buzz

AUGUST 24, 2022

[link]. Today’s Buzzcast interview is with Anthony Blackburn, CEO of Apple Appraisals. We sat down with Tony and Joan Trice, Founder of Allterra Group, LLC, to discuss how appraisers can be proactive in organizing how their businesses would run without them in the future. What are some examples of the hardships you’ve gone through since unexpectedly losing a business partner?

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Appraisal Buzz

AUGUST 11, 2022

Despite market influences that are pushing up mortgage rates and slumping home sales numbers during the second quarter of 2022, most metropolitan areas still saw double-digit annual price gains compared to the previous quarter. This new information comes by way of a recent quarterly report from the National Association of Realtors (NAR) which specifically identified … The post Most Metro Areas Post Double-Digit Q2 Price Gains appeared first on DSNews.

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Appraisal Buzz

AUGUST 11, 2022

The pandemic certainly tested the housing industry, but as Alex Kudman and Srijan Sareen of Enact Mortgage Insurance explain, the data collected provided what was needed to make the correct decisions to better serve borrowers undergoing hardships. The post Unexpected Lessons Learned From COVID-19 Data appeared first on DSNews. The post Unexpected Lessons Learned From COVID-19 Data appeared first on Appraisal Buzz.

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Appraisal Buzz

AUGUST 11, 2022

Based on a Policygenius study of 8,698 active home insurance policies quoted for renewal between May 2021 and May 2022, home insurance prices are rising at a faster rate than inflation, as costs are up nationwide since last year. According to Policygenius, insurance prices continue to climb in part due to “skyrocketing” inflation and a … The post Home Insurance Prices Up Across the Board, Rising Faster than Inflation appeared first on DSNews.

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Appraisal Buzz

JULY 20, 2022

Flagstar Bank has wrapped up its third MortgageTech Accelerator program, an accelerator solely dedicated to mortgage technology. Four startups graduated recently after a final presentation closed out the three-month program. Flagstar looked for startups working on breakthroughs in all facets of the mortgage business, including mortgage origination and servicing, compliance, secondary marketing, and fulfillment, as well as activities performed under the Community Reinvestment Act.

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Appraisal Buzz

JULY 19, 2022

Total commercial and multifamily mortgage borrowing and lending is expected to fall to $733 billion this year, down 18% from 2021 totals ($891 billion), according to an updated baseline forecast from the Mortgage Bankers Association (MBA). “The rapid changes taking place across space, equity and debt markets are having a significant effect on commercial and multifamily real estate transaction volumes,” says Jamie Woodwell, MBA’s vice president for commercial real estate researc

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Appraisal Buzz

JULY 19, 2022

CoreLogic has released its latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and across major metropolitan areas. CoreLogic did not have much good news to report for the month of May 2022 as single-family rent growth remained at a record high during the month, posting a 13.9% year-over-year increase.

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Appraisal Buzz

JULY 19, 2022

While single?family housing starts were down in June, home buyers today are presented with more options, as new-home inventory is accounting for a bigger share of the total housing supply. The post Dip in Housing Starts Boosting Inventory appeared first on DSNews. The post Dip in Housing Starts Boosting Inventory appeared first on Appraisal Buzz.

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Appraisal Buzz

JULY 19, 2022

Housing starts slowed in June, dropping to a seasonally adjusted annual rate of 1.559 million, a decrease of 2.0% compared with May and a decrease of 6.3% compared with June 2021, according to estimates from the U.S. Census Bureau and U.S. Department of Housing and Urban Development. Starts of single?family homes were at a rate of 982,000, a decrease of 8.1% compared with May.

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Appraisal Buzz

JULY 19, 2022

Home shoppers are finding more options to choose from, more time to make decisions and even price cuts in some areas, according to Zillow’s latest market report. That’s largely because intensifying affordability challenges are thinning competition from a crowded field and giving newfound leverage to those who remain. “Those who can weather this storm of … The post Rent Growth Eases, Less-Expensive Metros Experience Smallest Decline in Sales appeared first on DSNews.

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Appraisal Buzz

JULY 8, 2022

Since entering conservatorship in 2008, Fannie Mae and Freddie Mac to date have assisted nearly 6.5 million homeowners with foreclosure prevention actions. Here’s what the GSEs’ latest data reveals. The post FHFA Provides Foreclosure, Refi, REO Updates appeared first on DSNews. The post FHFA Provides Foreclosure, Refi, REO Updates appeared first on Appraisal Buzz.

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Appraisal Buzz

JULY 8, 2022

Since entering conservatorship in 2008, Fannie Mae and Freddie Mac to date have assisted nearly 6.5 million homeowners with foreclosure prevention actions. The post Q1 REO Inventory Increases 3% appeared first on DSNews. The post Q1 REO Inventory Increases 3% appeared first on Appraisal Buzz.

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Appraisal Buzz

JULY 8, 2022

According to a new report from Redfin, after months of tipping heavily in sellers’ favor, the scales of the housing market are finally balancing out. Soaring housing costs caused many house hunters to drop out in recent months, which is now providing some relief for buyers who remain. Today’s buyers are seeing the housing shortage … The post Rates Cool, Balance Returning to Housing Market appeared first on DSNews.

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Appraisal Buzz

JULY 8, 2022

The 447 commercial chapter 11 filings in June represented a 29 percent increase from the 347 filings in June 2021, according to new data provided by Epiq Bankruptcy. Overall commercial filings decreased 7% in June 2022, as the 1,864 filings were down from the 1,999 commercial filings registered in June 2021. Small business filings, captured … The post Commercial Chapter 11 Filings Increase Nearly 30% in June appeared first on DSNews.

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Appraisal Buzz

JULY 8, 2022

The COVID-19 pandemic did not just cause a global health crisis; not only did it throw the economy in a tizzy but it made certain markets behave in ways people have not seen before and could not anticipate. But housing, one of the pillars of the American Economy, saw cost burdens worsen during the first … The post On the Pandemic and Affordability appeared first on DSNews.

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Appraisal Buzz

JUNE 27, 2022

Mid America Mortgage has rebranded as Click n’ Close following the sale of the majority of its retail lending operations to Houston-based Legend Lending. Click n’ Close will retain retail operations related to its reverse mortgage and Native American lending business and focus on delivering innovative down payment assistance (DPA) and adjustable-rate mortgage (ARM) products through its third-party originator (TPO) channels.

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Appraisal Buzz

JUNE 27, 2022

Despite rising mortgage interest rates, pending home sales increased slightly in May, rising 0.7% compared with April, according to the National Association of Realtors (NAR). The increase follows six straight months of decreases. Regionally, and month over month, contract signings jumped 15.4% in the Northeast, however, they fell 1.7% in the Midwest, 0.2% in the South, and 5.0% in the West.

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Appraisal Buzz

JUNE 27, 2022

Don Layton, the current Senior Industry Fellow at the Joint Center for Housing Studies at Harvard University—and former CEO of Freddie Mac—penned a new blog post on the public release of the inaugural Equitable Housing Finance Plan, which outlines a range of specific actions Fannie Mae will take over the next three years to knock … The post A Look Into GSE’s Equitable Housing Finance Plans appeared first on DSNews.

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Appraisal Buzz

JUNE 27, 2022

BLOG VIEW: More companies are directing time and resources to create equity in housing and homeownership. As part of that effort, one must understand why housing is inequitable today. There seems to be universal agreement in the mortgage and housing industries that education is key. However, it is important to note that the need for education is not just for minorities who have yet to achieve – or even imagine – the dream of.

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Appraisal Buzz

JUNE 27, 2022

A recent Senate Banking Committee hearing discussed the impending expiration of the NFIP, a measure that provides $1.3 trillion-plus in coverage to nearly five million homes and businesses, and what can be done to enhance the Program. The post Senate Committee Examines the National Flood Insurance Program appeared first on DSNews. The post Senate Committee Examines the National Flood Insurance Program appeared first on Appraisal Buzz.

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Appraisal Buzz

JUNE 16, 2022

Hiring the right people can make or break a company and 2021 saw one of the most competitive job markets in recent memory. A true jobseekers market, more than 20 million people quit their jobs in the second half of 2021 according to the Bureau of Labor and Statistics end of year jobs report. The … The post Hiring New Talent Takes More than Money appeared first on DSNews.

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Appraisal Buzz

JUNE 16, 2022

New data shows Americans are as baffled by how real estate works as they are about cryptocurrency. According to a new Zillow survey, the study finds most Americans know more about celebrity love lives, the Kardashians, and the NFL than they know about the basics of buying a home. In the nationwide survey, the typical … The post Consumer Celebrity Knowledge Outpaces Understanding of Real Estate Basics appeared first on DSNews.

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Appraisal Buzz

JUNE 16, 2022

Mitchell Sandler is excited to announce the addition of Liana Prieto as a partner. Liana brings over 15 years of experience in financial services in both the private and public sectors to Mitchell Sandler, where she will continue to serve as a trusted advisor to boards of directors and a business partner to management teams. “It’s an exciting … The post Mitchell Sandler Announces Appointment of Liana Prieto as Partner appeared first on DSNews.

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Appraisal Buzz

JUNE 16, 2022

Mitchell Sandler is excited to announce the addition of Liana Prieto as a partner. Liana brings over 15 years of experience in financial services in both the private and public sectors to Mitchell Sandler, where she will continue to serve as a trusted advisor to boards of directors and a business partner to management teams. “It’s an exciting … The post Mitchell Sandler Announces Appointment of Liana Preto as Partner appeared first on DSNews.

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Appraisal Buzz

JUNE 16, 2022

Mortgage Capital Trading (MCT), a mortgage hedge advisory and secondary marketing software firm, has introduced a new technology for mortgage servicing rights (MSR) buyers to produce more granular pricing for mortgage servicing. The feature leverages an application programming interface (API) to connect MSRlive!, MCT’s state-of-the-art MSR valuation platform to clients’ systems for more precise and accurate loan-level pricing in real time.

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Appraisal Buzz

JUNE 16, 2022

The compounding effects of elevated inflation and higher interest rates are expected to further weigh on economic growth and home sales as the year progresses, with full-year 2022 growth now forecast at a slightly reduced 1.2% and expectations of a late-2023 modest economic contraction unchanged, according to the June 2022 commentary from the Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group.

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Appraisal Buzz

JUNE 16, 2022

Breaking down the barriers of communication is key in the loss mitigation process for any servicer, and Amy Neumann of Flagstar discusses what her firm is doing to re-establish these vital lifelines for many borrowers. The post Boosting Borrower Responsiveness in a Time of Crisis appeared first on DSNews. The post Boosting Borrower Responsiveness in a Time of Crisis appeared first on Appraisal Buzz.

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Appraisal Buzz

JUNE 6, 2022

Reverberations and repercussions from the pandemic continue to move through the real estate market. The latest news of such comes from American Land Title Association (ALTA) who found that, driven by meteoric rise in originations and home values last year, has caused title insurance premiums to increase by 35.9% in 2021. The 35.9% increase seen … The post Title Insurance Market Sees Double Digit Growth appeared first on DSNews.

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Appraisal Buzz

JUNE 6, 2022

The Federal Housing Finance Agency (FHFA) has released its inaugural Mission Report that describes the activities of Fannie Mae and Freddie Mac (Enterprises) and the Federal Home Loan Banks (FHLBanks) in 2021 to provide greater access to financing for targeted economic development and affordable, equitable and sustainable housing. The 2021 Mission Report shows that the Enterprises acquired more than 360,000 homeownership loans through their affordable housing programs with 62% of acquisitions be

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Appraisal Buzz

MAY 24, 2022

Lenders One , a national alliance of more than 250 banks, credit unions and independent mortgage bankers, has added Snapdocs Inc. ’s digital closing platform as a preferred eClosing provider for Lenders One members. “There are several options when it comes to digital eClosing solutions, and Snapdocs can help lenders get to scale with best-in-class technology, one of the largest networks of settlement partners, a hands-on approach across the entire digital closing journey, combined with the.

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Appraisal Buzz

MAY 24, 2022

Top earners in the appraisal profession are those who consistently bring in new clients. Are you looking to earn more referrals and repeat business? Start by fostering good relationships with your appraisal customers. Taking the time and effort to build strong appraiser-client relationships is a great way to establish a good reputation and distinguish yourself from the competition so that you can easily generate new business via client referrals and word-of-mouth.

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Appraisal Buzz

MAY 23, 2022

PERSON OF THE WEEK: Now that pandemic-related foreclosure protections are coming to an end – and with the U.S. economy sputtering due to massive inflation – it appears likely that mortgage delinquencies and defaults will increase in the months to come. This, in turn, will translate into increased business for real estate services firms dealing in REO disposition and default valuations.

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Appraisal Buzz

MAY 10, 2022

As the CFPB swings into full enforcement mode with loss mitigation underway, Meghan Jones-Rolla of Mortgage Connect discusses how the industry is handling the Bureau’s mandate of “unprepared is unacceptable.”. The post Attention to Detail appeared first on DSNews. The post Attention to Detail appeared first on Appraisal Buzz.

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Appraisal Buzz

MAY 10, 2022

Mortgage rates have surpassed 5% lately, due in large part to increases to the federal interest rate by the Federal Reserve who in addition to raising the rate twice this year, is expected to have further increases for the foreseeable future. So, what does that mean for the average buyer? It means money is more expensive, … The post Interest Adds Up; The Effect on Mortgages appeared first on DSNews.

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