Tue.Oct 19, 2021

Housing starts data pushing toward pre-cycle highs

Housing Wire

Today, the U.S. Census Bureau reported that housing starts hit 1.55 million for September, and housing permits came in at 1.589 million. These data lines missed monthly expectations, and we had negative revisions to the previous months when combined — overall, not the most exciting report.

Freddie Mac Expands Eligibility to Help More Homeowners Affordably Refinance

Appraisal Buzz

Freddie Mac has issued the following statement in support of an announcement by the Federal Housing Finance Agency (FHFA) that Freddie Mac and Fannie Mae’s low-income refinance programs will be expanded to include those making at or below 100% of the area median income (AMI) – up from 80% AMI.

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Abortion, marijuana laws play a role in relocation decisions

Housing Wire

Over the past few years, politics has become an increasing polarizing subject, so it should come as no surprise that it is influencing recent homebuyers’ decisions of where they want to live.

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Cherry Creek Mortgage Promotes Susan Vick to VP of Marketing

Appraisal Buzz

Susan Vick has been promoted to vice president of marketing at Cherry Creek Mortgage , a nationwide, full-service mortgage lender. Vick previously served as director of marketing since joining the company in February 2020.

Mortgage applications for new homes down in September

Housing Wire

Purchase mortgage applications for new homes were down 16.2% in September compared to a year ago, according to Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data released on Tuesday. This is also marks a 4% decrease from the prior month.

New Home Purchase Apps Dropped in September

Appraisal Buzz

Applications for mortgages for new home purchases decreased 16.2% in September compared with August and were down 4% compared with a year ago, according to the Mortgage Bankers Association’s (MBA) Builder Application Survey. .

Rocket Mortgage makes another push for brokers

Housing Wire

Executive Vice President at Rocket Pro TPO Austin Niemiec. Rocket Pro TPO, a division of Rocket Mortgage , announced today that it is launching several tech-focused initiatives to support mortgage broker partners for a purchase-heavy market.

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CFPB adds firepower to enforcement division

Housing Wire

The Consumer Financial Protection Bureau (CFPB) is adding 20 to 30 enforcement attorneys as it ramps up fair lending and redlining enforcement.

Freddie Mac: How Has the Pandemic Affected Single Women?

Appraisal Buzz

Sixty percent of single female heads of households were found to be paying at least 30% of their income on housing; 20% were putting more than half of their income toward housing. The post Freddie Mac: How Has the Pandemic Affected Single Women? appeared first on theMReport.com.

The originations landscape is shifting – is your business ready?

Housing Wire

Last year saw a record-breaking $3.83 trillion in mortgage originations, according to the Mortgage Bankers Association (MBA), as interest rates plunged, and COVID-19 accelerated an ongoing exodus from cities to the suburbs.

All Eyes on Risk

Appraisal Buzz

Nearly 1.4 million Americans remain in forbearance plans, as all eyes are turning to the servicing sector as they continue to bob and weave to comply with regulatory and market changes (Sponsored Content). The post All Eyes on Risk appeared first on DSNews.

Mortgage loan-trading platforms prepare for fall in volume

Housing Wire

The historic mortgage boom spurred by the pandemic hasn’t just been a blessing for lenders – the slew of mortgage loan-trading platforms have also reaped the rewards of historic origination volume.

Construction Numbers Moderate; FHFA Announces Changes to Low Income Refi Programs and Appraisal Requirements

Appraisal Buzz

Both Fannie Mae and Freddie Mac (the GSEs) will be expanding their low-income refinance programs to include those making at or below 100 percent of an area’s median income (AMI). The threshold on the programs is currently at 80 percent of AMI. Sandra L.

Tandem Garage Conundrum

The Appraiser Coach

A question that comes up quite often on the forums is what to do about garages that have tandem spaces, what to do about two car garages that can really. Read More.

Seniors Overwhelmingly Want to Stay in Their Homes

Appraisal Buzz

Over half of America’s seniors have now paid off their home, are living without a mortgage, and view their home as the best financial decision they ever made. The post Seniors Overwhelmingly Want to Stay in Their Homes appeared first on theMReport.com.

Updated for 2021: How to Get Things Done When Everything Feels Important

DataMaster

It is not enough to be busy, so are the ants. The question is: What are we busy about? Henry David Thoreau. We’re busier than we’ve ever been. How often have you talked to a friend about how busy you’ve been? How many important items do you have to get done?

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Setting the Right Strategy for 2022

Appraisal Buzz

The Mortgage Bankers Association’s mortgage volume forecast is the writing on the wall. It shows that the refinance business that accounted for over 75% of the lender’s business last year will account for only about a quarter of industry volume next year.

Single-Family Starts Flat in September

Eyes on Housing

Total housing starts decreased 1.6% in September, according to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Single-family starts were flat for the month, while overall multifamily starts declined in August. The August total starts reading of 1.56

Zillow Hits Pause on iBuying

Appraisal Buzz

Zillow, a Seattle-based real estate and financial services company, has announced that it is suspending signing new contracts with homeowners who use its iBuying service Zillow Offers until the end of the year.

Lumber prices – is another surge on the way?

Mortgagebroker News

As prices start to tick back up, speculation is growing that another spike could be in the offing

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Low-to-Moderate Income Consumers Present Opportunities for Mortgage Industry

Appraisal Buzz

TransUnion has partnered with FinLocker , a financial fitness app that helps low-to-moderate income (LMI) consumers monitor their progress towards mortgage readiness and streamline the homebuyer journey for them.

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Mortgage debt growth spikes to a decade-high pace – CMHC

Mortgagebroker News

This trend was influenced by historically low rates and sustained housing demand

Some Women View Home Ownership as Unattainable

Appraisal Buzz

Building on prior research that the rise of sole-person households are on the up, Freddie Mac has conducted additional market research to find out how the COVID-19 pandemic has impacted the homeownership goals of single female heads-of-households (SFHOH).

BoC QE tapering to continue feeding into bond yield increases – expert

Mortgagebroker News

The trend might end up delaying the central bank’s next policy-rate hike

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Appraisal Buzz - Untitled Article

Appraisal Buzz

Building on prior research that the rise of sole-person households are on the up, Freddie Mac has conducted additional market research to find out how the COVID-19 pandemic has impacted the homeownership goals of single female heads-of-households (SFHOH).

Which areas are driving Canada’s home sales?

Mortgagebroker News

Interest growing in markets outside urban strongholds

Aspen Grove Solutions to Partner With Homepoint

Appraisal Buzz

The initial production releases included the Inspections and Property Preservation modules. These will be followed by Collections and Loss Mitigation activities through the remainder of the year. The post Aspen Grove Solutions to Partner With Homepoint appeared first on DSNews.

Two specific asset classes dominate Canadian commercial transactions – CMLS Financial

Mortgagebroker News

Their outsized influence in Canada’s commercial mortgage activity defined the pandemic year

Housing Inventory Rises for the Fifth Consecutive Month

Appraisal Buzz

With the winter around the corner, Zillow has found the minor growth in inventory is helping shift the scales slightly in favor of buyers. The post Housing Inventory Rises for the Fifth Consecutive Month appeared first on DSNews.

Toronto activity a major component of Ontario market’s stability – Teranet

Mortgagebroker News

The city continues to attract investors and younger buyers, report says

Upcoming Winter Season Cools Housing Market

Appraisal Buzz

A new study has found that monthly growth in both home values and rents eased in September, continuing a seasonal calming that began late summer. The post Upcoming Winter Season Cools Housing Market appeared first on theMReport.com.

Canada’s condo market – what’s happening?

Mortgagebroker News

Sector activity was especially pronounced in Western Canada

Converging Economic Trends Driving Surge in SFR Market

Appraisal Buzz

Slim for-sale inventory is forcing would-be buyers back into renting, putting significant strain on the single-family rental market. The post Converging Economic Trends Driving Surge in SFR Market appeared first on DSNews.

Pandemic steadily eroding Canadians’ savings, standards of living – report

Mortgagebroker News

These trends are compounding the financial impact of steadily rising costs of living

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How to Identify a Single-Family with ADU vs. Two-Family Property

Appraisal Buzz

The presence of an additional living unit may complicate the appraisal process by making it difficult to know how to classify the subject property. How do you know whether you’re dealing with an accessory dwelling unit (ADU) or a second unit? Use the following guide to help you identify a single-family with ADU vs. two-family property. Don’t miss our Pro-Series webinar on Wednesday, Nov. 3rd, “Appraising Accessory Dwelling Units Simplified.” ” Reserve your spot.

Brokers reveal what they really think about lenders

Mortgagebroker News

Find out which lenders are performing for broker support, turnaround times, product range, interest rates and more

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2021 Women in Housing Leadership Awards

Appraisal Buzz

Continuing an annual tradition, MReport once again brings you the Women in Housing Leadership Awards, as presented at last month’s Five Star Conference and Expo. We now take a look at this year’s final award recipients. The post 2021 Women in Housing Leadership Awards appeared first on theMReport.com. The post 2021 Women in Housing Leadership Awards appeared first on Appraisal Buzz. Around The Web