Tue.Jul 06, 2021

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Forbearance loans decrease for 18th straight week

Housing Wire

For the 18th straight week, servicers’ forbearance portfolio volume fell. It dropped four basis points to 3.87% last week, according to a survey from the Mortgage Bankers Association. The MBA estimates 1.9 million homeowners are still in some form of a forbearance plan. The share of Fannie Mae and Freddie Mac loans in forbearance also decreased three basis points to 1.99%, and Ginnie Mae loans decreased three basis points to 5.10%.

Finance 414
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Sellers Are Rejecting FHA/VA Backed Offers; Buyers Passing Instead of Compromising

Appraisal Buzz

The Urban Institute (UI) says it appears that the current sellers’ market is having a negative impact on government backed loans and the borrowers who need to use them. In an article posted on UI’s Urban Wire blog, Janneke Ratcliffe and Laurie Goodman write that, while soaring home prices and historically low inventories of available homes have been good for sellers, many of them are unwilling to accept offers backed by FHA or VA financing.

Sellers 370
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The 2021 HousingWire Vanguards Nominations are now open!

Housing Wire

It’s that time of year again — the 2021 HousingWire Vanguard awards just opened for nominations. The HW Vanguard Award recognizes leaders of businesses contributing to the growth of the housing economy and its various sectors, including origination, real estate and fintech. Vanguards come from diverse backgrounds and may run established companies or start-ups, but share one common trait: an unmistakable impact on the industry at large.

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Job Growth Forces More to Exit Forbearance Plans

Appraisal Buzz

The share of U.S. homeowners in forbearance has dropped below two million, as bright spots in the U.S. economy and positive movement in unemployment claims is allowing more to resume their monthly payments. The post Job Growth Forces More to Exit Forbearance Plans appeared first on DSNews. The post Job Growth Forces More to Exit Forbearance Plans appeared first on Appraisal Buzz.

Appraisal 370
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Blend hopes to be valued at $4B following IPO

Housing Wire

Mortgage software platform Blend Labs set terms for its initial public offering Tuesday including its goal to raise up to $360 million for a targeted valuation of nearly $4 billion. According to the California-based software company, Blend is offering 20 million shares in the IPO priced between $16 and $18 each. The company also announced expectations to have a total of 219.6 million Class A, Class B and Class C shares outstanding after the IPO.

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Flagstar Helping TPO Partners Capitalize on a Shifting Mortgage Market

Appraisal Buzz

A year ago at this time, most, if not all, third-party originators (TPOs) had significantly reduced their offerings due to the COVID-19 crisis. Even larger lenders curtailed their activities—at least initially—in response to the pandemic. At the time, no one knew where the U.S. housing market was headed. Today, the pandemic is almost in the rearview mirror; there are more jobs than people to fill them; builders can’t build homes fast enough; and.

Marketing 370

More Trending

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The Rough Road Ahead for the Mortgage Industry 

Appraisal Buzz

Rates are increasing and refinance demand has dropped compared a year ago. The industry is now overstaffed and the overhead is hurting lenders’ bottom lines. . The post The Rough Road Ahead for the Mortgage Industry appeared first on theMReport.com. The post The Rough Road Ahead for the Mortgage Industry appeared first on Appraisal Buzz.

Mortgage 221
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Why Builder Lumber Prices Remain Higher than Headlines Suggest

Eyes on Housing

Lumber futures prices have decreased by 52 percent (on a front-month basis) over the past seven weeks as mill prices have fallen 48 percent over the same period.[1] In contrast, prices paid by builders since late May have declined by a fraction of that impact. The disconnect—which has always existed—is inherent to the lumber supply chain and choices that must.

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National Rent Price Growth the Fastest on Record

Appraisal Buzz

Researchers show robust increases in average rental payments—here is what that could mean for investors and anyone considering buying a home. The post National Rent Price Growth the Fastest on Record appeared first on DSNews. The post National Rent Price Growth the Fastest on Record appeared first on Appraisal Buzz.

Investors 195
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How to Use Digital Forms to Collect Better Energy Field Data

GoForrmz

Collect energy data using digital forms and instantly route submitted forms and information to the back-office, integrated systems, connected databases, and more Energy field teams are often tasked with the responsibility of collecting important project information – so why aren’t they given the tools they need to work more efficiently and accurately?

Tools 158
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Mr. Cooper Group Selling Champion Mortgage Reverse Servicing Business

Appraisal Buzz

Mr. Cooper Group Inc. has entered into an agreement for the sale of its reverse mortgage servicing portfolio, operating under the Champion Mortgage brand, to Mortgage Assets Management LLC (MAM) and its affiliates. The sale will reduce Mr. Cooper’s servicing portfolio by approximately $16 billion in unpaid principal balance and decrease its balance sheet by approximately $5 billion in HECM and other assets.

Business 195
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Clients and AMCs Say the Darndest Things

McKissock

A student contacted me with the following dilemma concerning an Appraisal Management Company (AMC) request: “ I told the Management Company that I cannot mark the Zoning Compliance as ‘Legal’ if the report is marked “as-is,” because this would not be true for the current “as-is” condition of the subject on the effective date of the appraisal.

Clients 85
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LERETA Acquired by Two Private Equity Firms

Appraisal Buzz

LERETA , a provider of real estate tax and flood services for mortgage servicers, and its equity holders, including funds managed by Tarsadia Investments, have been acquired by private equity firms Flexpoint Ford and Vestar Capital Partners. Terms of the deal, which is expected to close within 30 days, were not divulged. Flexpoint Ford is a private equity investment firm that has raised more than $5 billion in capital and specializes in privately negotiated investments.

Investing 195
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How to Make Smart Investing Decisions Using the Four Quadrants

BiggerPockets

In order to make intelligent decisions about real estate investing, you should understand the types of investment choices that are out there and match them with your long-term plans. The investor quadrant methodology will guide you through the investment decision-making process.

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Record High Home Prices Intensify Affordability Challenges

Appraisal Buzz

A new report finds that the continued struggle of home supply keeping up with demand has driven year-over-year increases to levels last seen in 2005. The post Record High Home Prices Intensify Affordability Challenges appeared first on DSNews. The post Record High Home Prices Intensify Affordability Challenges appeared first on Appraisal Buzz.

Appraisal 195
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What Does the Supreme Court’s Eviction Moratorium Ruling Mean?

BiggerPockets

Last week, the U.S. Supreme Court denied a request to block the CDC from imposing their eviction moratorium—giving the federal moratorium another month of life. What does this mean for investors?

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Demand to Supply Imbalance Fuels Double-Digit Home Price Growth

Appraisal Buzz

Despite rates in the 3% range, potential homebuyers are finding high home prices continuing to outpace the benefits of lower borrowing costs, according to a new study. The post Demand to Supply Imbalance Fuels Double-Digit Home Price Growth appeared first on theMReport.com. The post Demand to Supply Imbalance Fuels Double-Digit Home Price Growth appeared first on Appraisal Buzz.

Appraisal 195
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Multifamily Deal Analysis: 4 Can’t-Miss Steps to Find a Winning Property

BiggerPockets

If you can run numbers and keenly assess for multifamily cash flow and value-add opportunities, you can position yourself to help other investors who may not have the time or interest to do the same.

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Goldman Sachs Monitor ‘Closes the Book’ on 2016 Settlement

Appraisal Buzz

Billions of dollars have been provided to consumers injured by the mortgage-backed securities catastrophe, reports an independent consultant. The post Goldman Sachs Monitor ‘Closes the Book’ on 2016 Settlement appeared first on theMReport.com. The post Goldman Sachs Monitor ‘Closes the Book’ on 2016 Settlement appeared first on Appraisal Buzz.

Appraisal 195
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Easy Fixes Sellers Can Make to Enhance Their Home 

Lamacchia Realty

EASY FIXES SELLERS CAN MAKE. TO ENHANCE THEIR HOME. Selling a home can take some time and while most home sellers are focused on making updates that will give them the most return, it is imperative that the small fixes aren’t overlooked. Homebuyers don’t want to walk into an open house and be greeted by strange smells and seemingly easy fixes that are just going to lengthen their weekend to-do lists.

Sellers 69
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Angel Oak Expands With Two Additional Branches

Appraisal Buzz

Mortgage lender opens new branches in Colorado and Mississippi, marking the company’s fifth and sixth new offices in the span of 30 days. The post Angel Oak Expands With Two Additional Branches appeared first on theMReport.com. The post Angel Oak Expands With Two Additional Branches appeared first on Appraisal Buzz.

Appraisal 195
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When And How To Hire A Real Estate Assistant

Quicken Loans

Have you always wanted to say, “I’ll have my person call your person?” Hiring a real estate agent assistant might make you feel like a big shot – finally, someone to offload the detail work to! But the reality is that hiring a real estate assistant is more about growing your business than your ego. That’s because a real estate assistant can free you up to focus on sales and other high-value tasks.

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Clients and AMCs Say the Darndest Things

Appraisal Buzz

A student contacted me with the following dilemma concerning an Appraisal Management Company (AMC) request: “ I told the Management Company that I cannot mark the Zoning Compliance as ‘Legal’ if the report is marked “as-is,” because this would not be true for the current “as-is” condition of the subject on the effective date of the appraisal.

Clients 195
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StatsCan: Value of building permits fluctuating wildly

Mortgagebroker News

Weaker sales and delayed projects are leading to double-digit movements in the value of Canadian building permits

72
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Getting a “No”

Appraisal Buzz

We are constantly negotiating with people in our lives. All day, every day, we are asking things of our friends, family, clients and coworkers. We’ve been taught to try and … Read More. The post Getting a “No” appeared first on Appraisal Buzz.

Clients 195
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Rookie Podcast 93: Stop Making Offers! Here’s What to Do Instead with Erik Wright

BiggerPockets

In this hot housing market, it seems like almost everyone is telling you to make offers on anything that could be a potential deal. But Erik Wright, founder of New […].

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Making Contact

Appraisal Buzz

Up-to-date data, solid planning, and skilled communication are keys to servicing borrowers in times of crisis. The post Making Contact appeared first on DSNews. The post Making Contact appeared first on Appraisal Buzz.

Appraisal 195
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Is It a Buyer’s or Seller’s Market in Real Estate? How to Tell the Difference

Mashvisor

Timing is important in any business transaction, but for real estate investors, it is vital.

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CoreVest Deploying SS&C Precision LM Software Tool

Appraisal Buzz

Commercial real estate lender CoreVest is implementing Precision LM loan management software from SS&C Technologies Holdings Inc. to improve automation and operational efficiency, streamline data access and reporting, and reduce risk. Precision LM supports a broad range of complex commercial loan types, including term loans, bridge loans (fixed, floating and adjustable-rate), construction loans, and model home leasing loans.

Tools 150
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5 Creative Property Management Advertising Ideas to Stand Out

Mashvisor

Property management is one of the most lucrative sectors in the real estate business.

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Why Homeowners Hesitate to Tap Equity

Appraisal Buzz

Economists evaluate one of the top concerns for borrowers considering an equity loan and offer up methods for mitigating potential problems. The post Why Homeowners Hesitate to Tap Equity appeared first on DSNews. The post Why Homeowners Hesitate to Tap Equity appeared first on Appraisal Buzz.

Appraisal 195
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CAPREIT acquires manufactured housing community properties

Mortgagebroker News

The asset class is shaping up to be a particularly attractive choice amid current market conditions

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Addressing Concerns About Home-Equity Loans

Appraisal Buzz

Despite record amounts of equity, certain types of home equity borrowing in 2020 dropped drastically. This study examines borrower concerns. The post Addressing Concerns About Home-Equity Loans appeared first on theMReport.com. The post Addressing Concerns About Home-Equity Loans appeared first on Appraisal Buzz.

Appraisal 195
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BILD on the current pace of new home sales in the GTA

Mortgagebroker News

The market is seeing movement in prices across all residential asset classes