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

Housing Wire

A $250 monthly child tax credit from the federal government for each child also helps the household. Governments and servicers were both quick to launch forbearance programs for over seven million mortgage borrowers during the pandemic, realizing the historic challenge borne out of the Covid-19 pandemic. But will end in December.

Mortgage 391
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How To Appraise Rural Properties

Appraisal Today

NOTE: Please scroll down to read the other topics in this long blog post on USPAP and Personal Inspection, GSE Appraisal Modernization, Transaction costs and values including real estate commissions, unusual homes, mortgage origination stats, etc. = Is the GSE’s “Appraisal Modernization” Really Just Mass Appraisal? By Dallas T.

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Why Appraisal Workfiles Are Important

Appraisal Today

Upon arrival, you’re greeted by a lavish motor court leading to timeless modern architecture. Features include a pool house haven, a 5,000 sq ft guest house that can be utilized as a rejuvenation center, and a cantilevered spa with an indoor/outdoor pool. The average contract interest rate for 5/1 ARMs increased to 6.37

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Home sales are going to nosedive in 2023, Fannie Mae says

Housing Wire

The forecast for the housing market in 2023 gets worse by the month, with the latest report predicting a million-plus decline in existing home sales. The mortgage market is projected to slip further to $1.3 trillion in 2023, according to the government-sponsored enterprise. contraction in real GDP in 2023.

Contracts 417
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Apps for Appraisers

Appraisal Today

With the GSE appraisal modernization program, appraisers will more likely be asked to complete desktop or hybrid appraisal assignments in the future. Government purchase applications provided a bright spot, increasing 2.4 The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.93

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The End of Lender Appraisals?

Appraisal Today

The attack on the protected speech of independent appraisers erodes their ability to describe how the properties they appraise relate to the preferences of market participants. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 6.93 percent from 6.87

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What permanent desktop appraisals mean for the industry

Housing Wire

The FHFA’s decision to permanently allow desktop appraisals was a major milestone for appraisal modernization efforts and will push fintech companies to build out product offerings on the spectrum between an AVM and a full appraisal. So using the contract price as a proxy for value, the LTV cap is 90.

Appraisal 395