Wed.Dec 22, 2021

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Homeowners gain $9.1 trillion in housing value in 2021

Housing Wire

U.S. homeowners gained a whopping $9.1 trillion of housing value over the last year, according to a report published by Redfin this week. The report noted that home-price growth and a severe shortage of inventory worked in tandem to push housing values to record highs in 2021. As a result, the value of U.S. homes grew by 31.4% from last year to a total of $38.3 trillion in November, beating a 9.7% annual increase seen in November 2020.

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Bidding Wars Ease Up in November

Appraisal Buzz

Redfin agents report buyers are more cautious about overpaying, and feel less of a rush to commit to a house after the first tour. The post Bidding Wars Ease Up in November appeared first on DSNews. The post Bidding Wars Ease Up in November appeared first on Appraisal Buzz.

Agents 195
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Stewart Title buys largest title company in Illinois

Housing Wire

Just days after announcing its acquisition of Michigan-based Devon Title Agency , Stewart Title is back at it, announcing its acquisition of Greater Illinois Title Co. and subsidiaries on Tuesday. Chicago-based GITC is the largest title company in Illinois. Its subsidiaries include Greater Indiana Title , GIT Michigan , Greater Wisconsin Title , Greater Missouri Title and GIT Florida Title Services.

Insurance 404
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Homebuyer Competition Drops to 12-Month Low

Appraisal Buzz

Despite an overall decline in buyer competition, populous cities like Richmond and Salt Lake City have had the highest bidding-war rates within the housing market. The post Homebuyer Competition Drops to 12-Month Low appeared first on theMReport.com. The post Homebuyer Competition Drops to 12-Month Low appeared first on Appraisal Buzz.

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Report urges rent payment history in underwriting

Housing Wire

Utilities, telecommunications and rent payment data ought to be used in mortgage underwriting, especially since federal regulators say they are focused on improving racial equity and may update their credit scoring models. So argued a report released Tuesday by Michael Stegman, a non-resident fellow at the Urban Institute and former senior policy advisor on housing in the Obama White House, and Kelly Thompson Cochran, deputy director of FinRegLab.

Landlords 404
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Home Values Increase $9 Trillion Over the Past Year for U.S. Homeowners

Appraisal Buzz

U.S. homeowners have gained $9.1 trillion of housing value over the past year as housing prices continued to climb amid a severe shortage of homes for sale, according to a new report from Redf i n. The value of U.S. homes surged 31.4% year over year to a total of $38.3 trillion last month, far outpacing the 9.7% ($2.6 trillion) annual increase seen the prior November.

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Changing the Appraisal Industry

Appraisal Buzz

In today’s Buzzcast, we dive into Aloft and how their company is changing the appraisal industry with their techniques and new technology. Today we have Joan Trice, Founder of Allterra Group, LLC., Hansel Dobbs, Chief Appraiser of Aloft, and Travis Soukup, CEO of Aloft. We’ll be getting the inside scoop while they discuss the future of the industry and new technologies.

Appraisal 195
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HW+ Member Spotlight: Shant Banosian

Housing Wire

This week’s HW+ member spotlight features Shant Banosian, executive vice president of sales at Guaranteed Rate. Banosian broke a new record this year , topping his record-setting 2020 and funding a whopping $2 billion in total origination volume, which is believed to be a record for a retail loan originator. According to HousingWire’s most recent coverage , Banosian, who has several dozen team members, has funded over $7 billion loans throughout his career, and has been with Guaranteed Rat

Clients 378
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UniversalCIS | Credit Plus Taps Industry Veteran Shelley Leonard as President and Board Member

Appraisal Buzz

Shelley Leonard has joined UniversalCIS | Credit Plus , a provider of mortgage technology, verifications and business credit reports, as president and will also join the company’s board of directors. Leonard has more than 25 years of industry experience. Previously, she served as an executive at Black Knight and its predecessor businesses, most recently managing the servicing technology business unit with over $800 million of annual revenue.

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Is Appraisal Obsolete? Part 4: Education

George Dell

If education regurgitates only prior ‘established, time-tested’ methods, nothing happens. This is the fourth in our series on how progress in appraisal is stymied by the five frictions: process, standards, education, client expectation, and regulation. We will end this series after the new year with a simple, yet comprehensive, mystery solution. Stale education perpetuates appraisal […].

Appraisal 195
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Swift Competition Drives Home Prices Upward

Appraisal Buzz

Home buyers continued to snap up the limited supply of available homes, exerting upward pressure on sales prices and overall home-price growth. The post Swift Competition Drives Home Prices Upward appeared first on DSNews. The post Swift Competition Drives Home Prices Upward appeared first on Appraisal Buzz.

Buyers 195
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Mortgage Purchasing Activity Strengthens

Eyes on Housing

The latest Mortgage Bankers Association’s (MBA) weekly application surveys shows a decline for refinancing and an increase for mortgage purchase loans. The 30-year fixed-rate mortgage rate increased, averaging close to 3.3 percent for the month and was 3.27 percent for the week ending December 17.

Mortgage 167
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Existing-Home Sales Rise for Third Straight Month

Appraisal Buzz

A new report has found that eager home buyers are anticipating a rise in rates with home sales on the upswing in November. The post Existing-Home Sales Rise for Third Straight Month appeared first on theMReport.com. The post Existing-Home Sales Rise for Third Straight Month appeared first on Appraisal Buzz.

Buyers 195
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Appraisers make their lists, checking it twice

Valuation Review

Once again, the holiday tradition finds Valuation Review asking appraisers what their ideal gift from Santa Claus is this year. We certainly found a variety of items both underneath the tree and inside the stocking. Read on to find out what appraisers are hoping to unwrap this year.

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Changing the Appraisal Industry

Appraisal Buzz

In today’s Buzzcast, we dive into Aloft and how their company is changing the appraisal industry with their techniques and new technology. Today we have Joan Trice, Founder of Allterra Group, LLC., Hansel Dobbs, Chief Appraiser of Aloft, and Travis Soukup, CEO of Aloft. We’ll be getting the inside scoop while they discuss the future of the industry and new technologies.

Appraisal 195
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The Top 3 Online Forms for Window and Door Installers

GoForrmz

Streamline your window and door installation processes by transforming your paper documents into dynamic online forms For window and door professionals, utilizing online forms can better organize your inspection, quote, and installation processes. To ensure that the entire process of installation runs smoothly, you need to be equipped with the right tools to obtain critical information, store it properly, and relay it back to the team and customer for the next steps.

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ServiceLink Adds Four to Its Sales Team

Appraisal Buzz

Provider of tech-servicing systems welcomes four new sales execs in the fourth quarter to its Originations Division. The post ServiceLink Adds Four to Its Sales Team appeared first on DSNews. The post ServiceLink Adds Four to Its Sales Team appeared first on Appraisal Buzz.

Appraisal 195
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A Few Reasons Why You Need a Professional Real Estate Appraises

Appraisal Hub

Buying or selling real estate is likely one of the biggest and most rewarding investment deals you will ever make. But it can easily become a daunting process when you realize the potential risks. Appraisers in Toronto can help you make an informed decision before you buy or sell a property. With a home appraisal, you can position yourself more confidently in the market.

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Latest MBA Weekly Survey Shows Decrease in Mortgage Applications

Appraisal Buzz

Mortgage applications decreased 0.6% from one week earlier, according to data from the Mortgage Bankers Association ‘s (MBA) Weekly Mortgage Applications Survey for the week ending December 17, 2021. The Market Composite Index, a measure of mortgage loan application volume, decreased 0.6% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1% compared with the previous week.

Mortgage 195
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Fannie Mae announces new finance leadership structure

Valuation Review

Fannie Mae recently announced the appointment of Chryssa Halley to executive vice president and chief financial officer (CFO). In this role, Halley reports to the Fannie Mae president and is responsible for Fannie Mae’s financial management and economic and strategic research functions.

Finance 60
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Mortgage Applications Tail Off to End 2021

Appraisal Buzz

A 3% decline in purchase applications was offset by a 2% rise in refi activity as overall mortgage application volume slid for the second consecutive week. The post Mortgage Applications Tail Off to End 2021 appeared first on theMReport.com. The post Mortgage Applications Tail Off to End 2021 appeared first on Appraisal Buzz.

Mortgage 195
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FHFA announces conforming loan limits for 2022

Valuation Review

The Federal Housing Finance Agency announced the conforming loan limits (CLL) for mortgages acquired by Fannie Mae and Freddie Mac in 2022. In most of the U.S., the 2022 CLL for one-unit properties will be $647,200, an increase of $98,950 from $548,250 in 2021.

Finance 60
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Homespire Mortgage Partners to Build Veteran Homes

Appraisal Buzz

Homespire’s $50,000 donation will help support military veteran organization’s mission of building specially adapted custom homes. The post Homespire Mortgage Partners to Build Veteran Homes appeared first on theMReport.com. The post Homespire Mortgage Partners to Build Veteran Homes appeared first on Appraisal Buzz.

Mortgage 195
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Appraisal Logistics’ client list increases

Valuation Review

Appraisal Logistics recently announced that an internal review showed the company added more than 30 new lender clients in 2021. This represents significant growth for the company during a year that challenged many in its space.

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ClearCast Podcast E23 — The Basis Point Founder Julian Hebron

Clear Capital

Follow ClearCast on LinkedIn , Twitter , Facebook , and Instagram. EPISODE SUMMARY. In this special year-end edition of ClearCast, Kenon and Jeff talk with Basis Point Founder Julian Hebron about 2021’s top fintech trends and their predictions for 2022. Watch ClearCast E23. Listen to ClearCast E23. The post ClearCast Podcast E23 — The Basis Point Founder Julian Hebron appeared first on ClearCapital.com, Inc.

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Zillow’s housing predictions for 2022

Valuation Review

The housing market may not reach the incredible heights of 2021, but Zillow economists predict it will be anything but slow next year. One can expect the strong sellers’ market to persist, the Sun Belt to maintain its top spot as the most in-demand region, and flexible work options to continue to shape housing decisions in new ways in 2022, according to a Zillow report.

Sellers 60
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How one broker gave back – through skateboarding

Mortgagebroker News

He rediscovered his love of skateboarding during the pandemic – and made a difference in his community

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AVMs assist in eliminating racial bias from appraisals

Valuation Review

HouseCanary, Inc., known for its real estate valuation technology, recently released a white paper with the results of a study entitled “Reducing Racial Bias in Home Appraisals Using Automated Valuation Technology.” Based on a thorough assessment of its automated valuation technology, HouseCanary’s study resulted in many key findings. Read on to learn more.

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BiggerPockets Podcast 548: How to NOT Get Scammed on Your Next “Real Estate Opportunity” w/Mike Nuss & Tyler Combs

BiggerPockets

Your real estate partnership may be closer than you think. Maybe it’s that seller you’re talking to on craigslist, maybe it’s your home appraiser, or maybe it’s someone you meet […].

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Canadian commercial market – what happens in 2022?

Mortgagebroker News

The expected full economic reopening will play a crucial part in the market's 2022 performance

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8 Steps to Buying a House in California: The Complete Investor’s Guide

Mashvisor

In this article, we outline the steps to buying a house in California for real estate investors who are looking for a stable rental income source.

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Quebec luxury transaction posts historically high home sale price

Mortgagebroker News

The market is currently seeing a surge in luxury sales activity, driving average sales prices up

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The Key Steps To Selling A House As Is In Texas – How To Make A Smart Sale?

Mashvisor

You’ve decided that you want to sell your home in Texas.

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As affordability deteriorates, feds set sights on investment homes

Mortgagebroker News

The federal government cites main drivers of price growth