Tue.May 11, 2021

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Volume-hungry mortgage lenders loosen credit standards

Housing Wire

Mortgage credit availability increased by 2.2% in April as mortgage lenders fight for borrowers in an increasingly competitive market. The Mortgage Bankers Association said Tuesday that the Mortgage Credit Availability Index (MCAI) — which uses 100 as a benchmark — increased to 128.1 last month. A decline in the MCAI suggests that lending standards are tightening while a higher number suggests loosening credit standards.

Mortgage 498
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Early-Stage Delinquencies Continue to Improve, But Serious Delinquencies Remain a Concern

Appraisal Buzz

Although the overall mortgage delinquency rate remains up from a year ago, due to the economic impact of the pandemic, it continues to improve on a month-over-month basis and is expected to improve throughout the remainder of this year, two recent reports show. According to CoreLogic’s Loan Performance Insights Report, the overall mortgage delinquency rate (30 days or more past due, including those in foreclosure) increased 2.1 percentage points year-over-year in February to reach.

Appraisal 370
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Mortgages for second homes skyrocket 178%

Housing Wire

The number of buyers who locked in mortgage rates for second homes soared 178% year over year in April, marking the 11th straight month of 80%-plus growth, according to a recent Redfin study. Redfin Chief Economist Daryl Fairweather said the numbers are likely exaggerated because demand for second homes dropped 24% year over year in April 2020, the month after the coronavirus pandemic permeated throughout the U.S.

Mortgage 442
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Strong Demand Drives Q1 Prices Upward YoY

Appraisal Buzz

With supply remaining tight, homebuyers scrambled in Q1 to buy up the remaining inventory, driving home prices to year-over-year highs in 99% of the nation’s metro markets. The post Strong Demand Drives Q1 Prices Upward YoY appeared first on theMReport.com. The post Strong Demand Drives Q1 Prices Upward YoY appeared first on Appraisal Buzz.

Inventory 370
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How To Determine Time Adjustments

The Appraiser Coach

I recently had a question come in from a follower regarding how to best make time adjustments in this crazy world of multiple offers and offers over list. It was. Read More.

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Guild breaks into Northeast with acquisition of RMS

Housing Wire

Publicly traded retail mortgage lender Guild Holdings is on the hunt for acquisitions, and it’s found a juicy target in Maine-headquartered retail lender Residential Mortgage Services Holdings. The acquisition of RMS for $196.7 million (3.5x earnings) gives Guild a substantial foothold in the Northeast and a bevy of purchase business. RMS, founded in 1991, has 70 offices across 14 New England and Mid-Atlantic states.

Retail 370

More Trending

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Better.com to go public via SPAC at $7.7B valuation

Housing Wire

The special purpose acquisition company market isn’t dead yet, apparently. SoftBank Group -backed digital lender Better.com plans to make its public debut in the fourth quarter of 2021 via SPAC , in a deal that would value the company at nearly $8 billion, the firm said Tuesday. Better.com, which offers mortgage, real estate, title and homeowner insurance through its digital platform, has entered an agreement to merge with Aurora Acquisitions Corp., a blank check company sponsored by Novat

Valuation 393
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Experts Say Large Influx of Foreclosures Seems ‘Unlikely’

Appraisal Buzz

Government agency actions related to economic fallout from the coronavirus pandemic have kept foreclosure filings in America low, but what will happen when certain allowances expire? . The post Experts Say Large Influx of Foreclosures Seems ‘Unlikely’ appeared first on DSNews. The post Experts Say Large Influx of Foreclosures Seems ‘Unlikely’ appeared first on Appraisal Buzz.

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Lone Wolf acquires LionDesk and Homespotter

Housing Wire

Real estate software company Lone Wolf Technologies announced Monday the acquisition of two real estate technology companies, LionDesk and Homespotter. Lone Wolf currently serves more than 1.5 million real estate professionals in Canada and the U.S. “These acquisitions embody our mission to simplify real estate,” said Jimmy Kelly, Lone Wolf CEO. “We’re bringing the best technology together to dramatically simplify the work that agents and brokers do every day, but this is more than j

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Mortgage Credit Availability Increases

Appraisal Buzz

Lending standards overall loosened during April, the Mortgage Credit Availability Index (MCAI) from Mortgage Bankers Association (MBA) and Ellie Mae indicates. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The MCAI is calculated using several factors related to borrower eligibility (credit score, … The post Mortgage Credit Availability Increases appeared first on theMReport.com.

Mortgage 195
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Property condition information that’s cloud-based – “Word cloud” based

Housing Wire

Many factors contribute to the process of determining the value of a residential property. Two of the key components are quality and condition. For example, a newly renovated home that has a gourmet kitchen and an updated bathroom may be valued more highly than a similar home that possesses only above-average amenities and is in average condition. .

Valuation 381
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Guild Expands Into the Northeast With Acquisition of RMS

Appraisal Buzz

San Diego-based mortgage originator grows its regional footprint and moves into the Northeast after deal with retail originator RMS. The post Guild Expands Into the Northeast With Acquisition of RMS appeared first on theMReport.com. The post Guild Expands Into the Northeast With Acquisition of RMS appeared first on Appraisal Buzz.

Retail 195
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UWM expects big margin decline in Q2

Housing Wire

The parent company of United Wholesale Mortgage (UWM) reported $860 million in net income during the first quarter of 2021, but there are clear signs that the going has already gotten tough. In total, UWM originated $49.1 billion in closed loan volume in the first quarter, down from the $54.7 billion in the fourth quarter (but up from the $42.4 billion in originations a year ago).

Business 381
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Delinquency Rates Leveled Off in February; Rates Moving Higher Again

Appraisal Buzz

Mortgage delinquency rates ticked up slightly in February, the first increase since August 2020. CoreLogic said the national delinquency rate at the end of the reporting period was 5.7 percent, up 0.1 percentage point from January. The rate indicates the percentage of all mortgages that were 30 or more days past due including those in foreclosure. The rate in February 2020, one month before the COVID-19 virus shut down much of the country, was.

Appraisal 195
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Amid expansion, Opendoor lost $270M in Q1

Housing Wire

Opendoor wants to give residential real estate brokerages a run for their money , but its first quarter earnings suggest the company is not quite there yet. The San Francisco-based instant homebuyer announced a net income loss of $270 million on Tuesday, a 421 percent jump compared to the first quarter of 2020’s $62 million deficit. The Q1 2021 loss approached Opendoor’s $280 million net income loss for all of 2020.

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Southern Surge Leads Record Home Sales Forecast

Appraisal Buzz

With $2.53 trillion in home sales predicted for 2021, forecasters are eyeing the largest annual increase in percentage terms in seven years for the housing market. The post Southern Surge Leads Record Home Sales Forecast appeared first on DSNews. The post Southern Surge Leads Record Home Sales Forecast appeared first on Appraisal Buzz.

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47% of Home Buyers Want an Exercise Room

Eyes on Housing

NAHB’s latest survey on consumer preferences – What Home Buyers Really Want – asked recent and prospective buyers about the desirability of an exercise room in the home. Results show that 47% of buyers rate an exercise room essential or desirable. The arrival of the COVID-19 pandemic in the spring of 2020 likely accelerated the long-term, rising popularity of exercise.

Buyers 205
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$2.53 Trillion Expected in Home Sales in 2021

Appraisal Buzz

A new forecast finds that home sales this year will be spurred by a combination of record low rates and a wave of migration due to telework situations. The post $2.53 Trillion Expected in Home Sales in 2021 appeared first on theMReport.com. The post $2.53 Trillion Expected in Home Sales in 2021 appeared first on Appraisal Buzz.

Appraisal 195
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What to Wear?

DW Slater Company

Photo by BBH Singapore on Unsplash. No this hasn’t suddenly become a fashion blog. This is really for my fellow female appraisers. My apologies guys, some of this might apply to you, but I am really speaking to the gals. I am a part of several appraiser groups and one of my favorite Facebook groups is the I am a Female Real Estate Appraiser Groups.

Design 170
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What ONE Appraisal Technology Tool Makes Your Life Easier?

Appraisal Buzz

Technology is constantly changing the appraisal industry. Learning how to adopt—and adapt to—the new technologies can help you become more efficient and generate more income. But which tools are worth investing in? To find out, we asked real estate appraisers, “What ONE technology tool makes your life easier as an appraiser?” Keep reading to learn which tools are favorites among your fellow appraisers—and hopefully discover a new appraisal technology tool to leverage in your.

Tools 195
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Jump for Open Construction Sector Jobs in March

Eyes on Housing

Job openings in construction increased in March to 344,000 unfilled positions, according to data from the BLS Job Openings and Labor Turnover Survey (JOLTS). The housing market remains hot and requires additional labor, lots and lumber and building materials to add inventory. Overall, hiring in the construction sector increased in March, rising to a 6% rate.

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How To Determine Time Adjustments

Appraisal Buzz

I recently had a question come in from a follower regarding how to best make time adjustments in this crazy world of multiple offers and offers over list. It was … Read More. The post How To Determine Time Adjustments appeared first on Appraisal Buzz.

Appraisal 150
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The Top 5 Benefits of Switching From PDFs to Fillable Forms

GoForrmz

Transform your PDFs into fillable forms that can be used on your phone, tablet, or computer - no code or IT support required Many teams still grapple with the frustrations of PDF data entry, resulting in frequent data entry errors, cumbersome form delivery, and siloed data. Although PDFs are digital, they cannot be optimized to incorporate logic or automations, and cannot move collected data into connected databases, systems of record, or reporting applications, isolating data.

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Ginnie Mae Reports Record MBS Issuance in April

Appraisal Buzz

Ginnie Mae’s mortgage-backed securities volume continues to soar in 2021, following another solid April report of $89.70 billion in volume. The post Ginnie Mae Reports Record MBS Issuance in April appeared first on DSNews. The post Ginnie Mae Reports Record MBS Issuance in April appeared first on Appraisal Buzz.

Appraisal 150
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What ONE Appraisal Technology Tool Makes Your Life Easier?

McKissock

Technology is constantly changing the appraisal industry. Learning how to adopt—and adapt to—the new technologies can help you become more efficient and generate more income. But which tools are worth investing in? To find out, we asked real estate appraisers, “What ONE technology tool makes your life easier as an appraiser?” Keep reading to learn which tools are favorites among your fellow appraisers—and hopefully discover a new appraisal technology tool to leverage in your own business.

Tools 82
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Will the Delinquency Rate Start Dropping Soon?

Appraisal Buzz

In a new report, economists weigh in on reasons for the rise in overdue housing payments and explain why they anticipate improvements. The post Will the Delinquency Rate Start Dropping Soon? appeared first on DSNews. The post Will the Delinquency Rate Start Dropping Soon? appeared first on Appraisal Buzz.

Appraisal 195
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Struggling to Find a Stellar Contractor? Try These 9 Pro Tips

BiggerPockets

You don't have to settle for a contractor that doesn’t fit your needs. Given some time and research, you can easily find a contractor that can get the job done properly—and under budget.

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Loan Performance Findings ‘Bode Well for Housing Fundamentals’

Appraisal Buzz

Researchers say government support throughout the pandemic, and improving employment rates have enabled many borrowers to remain current on their mortgages. The post Loan Performance Findings ‘Bode Well for Housing Fundamentals’ appeared first on theMReport.com. The post Loan Performance Findings ‘Bode Well for Housing Fundamentals’ appeared first on Appraisal Buzz.

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Is Evicting That Problem Tenant the Wrong Call? Here’s How to Tell

BiggerPockets

Apart from being a costly process, evictions occupy your precious time and resources. Of course, sometimes you have no choice other than to start proceedings—but are evictions always necessary?

Tenants 75
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How to Invest in Rental Homes as a Beginner: The 2021 Guide

Mashvisor

Real estate investing can appear very complex and confusing for anyone just starting out. This article offers a comprehensive guide on real estate investing for beginners.

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Almaden Valley Real Estate Market Conditions

San Jose Real Estate

The Almaden Valley real estate market is a mild or slight seller's market, with most homes enjoying 2 - 3 months of inventory. The luxury tier is selling with about 6 months of inventory, making it a buyer's market now.

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How to Get the Lowest Interest Rate

On Q Financial

Mortgage rates can be confusing. Rates can fluctuate daily, and if it’s your first time dealing with them, it’s easy to get overwhelmed. Even experienced home buyers and some industry professionals struggle to track mortgage rates! However, for those savvy customers who want to find the best deal, On Q Financial has prepared this guide to help you find the best possible rates available!

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Lamacchia Obtains Brokerage License in Maine to Mark 6th State

Lamacchia Realty

Lamacchia Obtains Brokerage License in Maine. It was announced during company updates on Wednesday that Lamacchia Realty is officially licensed as a brokerage in Maine! This exciting addition to the already long list of states Lamacchia has expanded into comes as no surprise. After taking the leap into the South Florida market just last fall to better serve clients moving in and out of that state, the company decided Maine was a logical next step.

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How Successful Real Estate Agents Invest In Their Own Business

McKissock

Hopefully, as a successful real estate agent, your income will continue to increase throughout your career. That’s certainly the case for 65% of the real estate agents we surveyed who reported a rise in their earnings from 2018 to 2019. Some years are more fruitful — whether that’s because of the market or individual business tactics. A successful real estate agent knows how to put that money back into their business to keep earning more.