Housing Wire
OCTOBER 29, 2021
The housing market continues to be hot in most of the country, but there are signs that the party may be coming to an end. To help better understand what the latest data means for the industry, HousingWire Lead Analyst Logan Mohtashami answered questions about what it all means. The Q&A was hosted in the HW+ Slack channel, which is exclusively available to members.
Cleveland Appraisal Blog
OCTOBER 29, 2021
If you’re reading through an appraisal report, and you make it to the Cost Approach, which is where appraisers report either the reproduction or replacement cost of the home they are appraising, you will see a little field that says, “ Remaining Economic Life “ What does this number indicate? At first, you might be thinking that this means the estimated years remaining before a house falls over, so to speak.
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Housing Wire
OCTOBER 29, 2021
Uday Devalla, EVP, Chief Technology Officer at Sagent. Until recently, mortgage servicing was more about cash-flow math than consumer experience. Finally, customer expectations for both push-button simplicity and smart human advice are changing the game. Consumer-first lifetime retention is now our prevailing theme in servicing, which increases both MSR values and lifetime customer value.
Appraisal Buzz
OCTOBER 29, 2021
In a time of the year when the market typically slows, a new report from Redfin found that 33% of homes sell within a week of hitting the market—a number that has been on the rise for the last six weeks. Redfin Analyst Tim Ellis attributed the rise to homebuyer demand, which has remained steady and strong over the last few … The post Is Homebuyer Demand Keeping the Market Up?
Housing Wire
OCTOBER 29, 2021
The Consumer Financial Protection Bureau (CFPB) has appointed two veteran regulators to lead enforcement and supervision, the latest indication that Director Rohit Chopra will heavily prioritize fair lending and racial equity issues. The agency announced on Friday that Eric Halperin will be joining the agency as assistant director for the office of enforcement.
Appraisal Buzz
OCTOBER 29, 2021
Bob Jennings will continue to lead ClosingCorp after acquisition, giving CoreLogic customers access to title and closing services. The post CoreLogic Finalizes Deal to Acquire ClosingCorp appeared first on DSNews. The post CoreLogic Finalizes Deal to Acquire ClosingCorp appeared first on Appraisal Buzz.
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Appraisal Buzz
OCTOBER 29, 2021
With many 18-month forbearance terms coming to an end, a new report next week will better gauge the rate of true forbearance exits, compared to the volume of re-entries. The post The Week Ahead: The Evolution of Forbearance appeared first on DSNews. The post The Week Ahead: The Evolution of Forbearance appeared first on Appraisal Buzz.
Housing Wire
OCTOBER 29, 2021
Ocrolus. Ocrolus is a document automation platform that powers the digital lending ecosystem, automating credit decisions for mortgage originators and underwriters. Ocrolus enables lenders to make high quality decisions with trusted data and unparalleled efficiency. Product Fast Facts. #1. Eliminate manual data entry. #2. Control, flexibility, compliance, Deliver data natively within your POS or LOS platform. #3.
Appraisal Buzz
OCTOBER 29, 2021
When the pandemic hit, rent prices in large cities took a hit as people fled heavily populated areas and moved to the less crowded, and cheaper, suburbs. But as vaccines rolled out, people came back and rent began to rebound. According to a new report by Realtor.com, rent prices over the last month have not just recovered but are making up for lost … The post Rent Continues Upward March appeared first on theMReport.com.
Housing Wire
OCTOBER 29, 2021
Reggora. The future of appraisal management is here. Reggora’s appraisal platform for lenders and appraisal vendors delivers unprecedented efficiency and scalability across the entire appraisal process. Leveraging smart automation, powerful integrations, and unique workflows, Reggora customers can quickly scale up or down with demand, while simultaneously driving faster, easier appraisals.
Appraisal Buzz
OCTOBER 29, 2021
Pending home sales dipped in September, retreating slightly following a previous month of growth, according to the National Association of Realtors. Each of the four major U.S. regions saw contract activity decline month-over-month and year-over-year, with the Northeast weathering the largest yearly drop. The Pending Home Sales Index (PHSI) decreased 2.3% to 116.7 in September.
Housing Wire
OCTOBER 29, 2021
This post originally appeared in HousingWire’s LendingLife newsletter. LendingLife is a daily digest of the most important news and commentary edited and curated exclusively for mortgage loan originators. Join the community ! Hello, LOs! How would you like to be questioned by Congress on Day 13 of your new job? That’s what happened to Consumer Financial Protection Bureau Director Rohit Chopra on Wednesday.
Appraisal Buzz
OCTOBER 29, 2021
In the pursuit of equitable housing for all, an upcoming webinar will address the challenges faced by more and more to find a home to purchase or rent within their means. The post The Week Ahead: Answering the Affordability Bell Through Rentals appeared first on theMReport.com. The post The Week Ahead: Answering the Affordability Bell Through Rentals appeared first on Appraisal Buzz.
Housing Wire
OCTOBER 29, 2021
Today, borrowers expect to close fast. A small issue within the title process can have an impact on the length of the closing process, impacting mortgage lenders and borrowers. HousingWire recently spoke with Dave Steinmetz, Division President of Origination Services for ServiceLink, on what tools lenders should leverage to streamline home equity title and closing.
Appraisal Buzz
OCTOBER 29, 2021
While Fannie Mae reported declining net revenues in the third quarter of 2021, Freddie Mac experienced a 4% rise, spurred by mortgage portfolio growth and higher average G-fees. The post GSEs Report Mixed Q3 Results appeared first on DSNews. The post GSEs Report Mixed Q3 Results appeared first on Appraisal Buzz.
Eyes on Housing
OCTOBER 29, 2021
NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that conventional loans financed 75.7% of new home sales in the third quarter of 2021—the largest share since the beginning of the Great Recession in 2008. The share increased 1.7 percentage points over Q2 2021 (revised) and has risen each of.
Appraisal Buzz
OCTOBER 29, 2021
Despite mixed reports, the GSEs continued their mission of providing liquidity, stability, and affordability to the housing market in Q3. The post Fannie and Freddie Issue Third-Quarter Earnings appeared first on theMReport.com. The post Fannie and Freddie Issue Third-Quarter Earnings appeared first on Appraisal Buzz.
Eyes on Housing
OCTOBER 29, 2021
The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income slumped 1% in September to a seasonally adjusted annual rate (SAAR) of $20.49 billion. This decrease in personal income was largely due to declines in the government social benefits, including economic impact payments and the pandemic unemployment compensation.
Appraisal Buzz
OCTOBER 29, 2021
PERSON OF THE WEEK: LO retention and recruiting has taken on new meaning in this second stage of the pandemic, as the mortgage market shifts to a purchase market. Soon, LOs will be playing a more critical role in helping lenders gain market share. That’s why lenders should be focused on retaining their top-performing and most experienced LOs. To learn more, MortgageOrb recently interviewed Joe Welu, founder and CEO of Total Expert.
Eyes on Housing
OCTOBER 29, 2021
In the first quarter of 2018, the starting point of the Housing Trends Report, only 16% of buyers expected easier availability for a home in the months ahead. The share soared to 36% by the final quarter of 2020 (during the COVID-19 pandemic), only to drop throughout 2021, reaching 25% by the third quarter. Now, 66% expect that finding the.
Appraisal Buzz
OCTOBER 29, 2021
Are you just starting your real estate appraisal career? Last month we asked our appraisal community, “If you could give ONE piece of advice to a new appraiser, what would it be?” Thank you to the large number of appraisers who shared their top tips for new appraisers! Keep reading for a summary of the most common answers we received, as well as quotes from many of the experienced appraisers who were willing to.
Appraiserblogs
OCTOBER 29, 2021
…I’ve discovered a potential anomaly in Desktop reports (and Hybrids also) which might shock some appraisers… Desktop Appraisals, Panaceas for Faster Reports. Or so they say. Bankrate.com has a revealing article published on Oct. 27, 2021, titled As Appraiser Shortage Delays Closings, Mortgage Giants Try Workaround | Bankrate FHFA (the GSE’s “manager”), after the administration change, under pressure from mortgage brokers and lenders, and after the experiment with th
Appraisal Buzz
OCTOBER 29, 2021
In a time of the year when the market typically slows, a new report from Redfin found that 33% of homes sell within a week of hitting the market—a number that has been on the rise for the last six weeks. Redfin Analyst Tim Ellis attributed the rise to homebuyer demand, which has remained steady and strong over the last … The post 33% of Homes Sell Within the First Week appeared first on DSNews.
McKissock
OCTOBER 29, 2021
Are you just starting your real estate appraisal career? Last month we asked our appraisal community, “If you could give ONE piece of advice to a new appraiser, what would it be?” Thank you to the large number of appraisers who shared their top tips for new appraisers! Keep reading for a summary of the most common answers we received, as well as quotes from many of the experienced appraisers who were willing to share their wisdom with newcomers to the profession.
Appraisal Buzz
OCTOBER 29, 2021
There was a big jump in the incidence of mortgage fraud over the course of the last year. CoreLogic’s annual report for the second quarter of 2021 reports that one in 120 mortgage applications (0.83 percent) submitted during that period showed indications of at least one of six types of fraud. This is up 37.2 percent from the prior 12-month period.
BiggerPockets
OCTOBER 29, 2021
This week is less of a Rookie Reply, and more of a “Rookie Ramble” as Ashley likes to call it, as Tony and Ashley ask each other questions about their […].
Appraisal Buzz
OCTOBER 29, 2021
Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.14%. “The yield on the 10-year Treasury note has been trending up due to the decline in new COVID cases, increasing consumer optimism, as well as broadening inflation and persistent shortages,” says Sam Khater, Freddie Mac’s chief economist.
Mashvisor
OCTOBER 29, 2021
Real estate investor investors may soon see more bank owned properties for sale. This third quarter saw around 25,000 new foreclosures across the country. Pandemic-related mortgage bailouts are ending.
Lamacchia Realty
OCTOBER 29, 2021
SELLING A HOME VACANT VS. FURNISHED: HOW IT IMPACTS OPEN HOUSES. The home selling process can be overwhelming enough when everything goes as planned, but what happens if you have to sell your home after you’ve already moved out? Showing and selling the home furnished versus unfurnished and what to do with the furniture after the fact is a topic that many experts are divided on.
National Association of Realtors
OCTOBER 29, 2021
In a follow-up conversation, NAR staff stressed the value in continued engagement with REALTORS® and industry professionals, especially appraisers. Learn more about the event.
Mashvisor
OCTOBER 29, 2021
A property manager is usually employed by a landlord or a management company to handle the day-to-day operations of a rental property.
Housing Wire
OCTOBER 29, 2021
The resurgence of alternative home equity tapping companies in the past few years has been of interest to the reverse mortgage industry due to the potential that business has to compete for seniors’ business. Whether discussing arrangements like sale leasebacks or shared equity investments, such products could serve as an alternative to a debt-based option for those looking to unlock a portion of their home’s equity and gain access to additional cash flow.
Appraisal Buzz
OCTOBER 29, 2021
A recent webinar hosted by DS News, and sponsored by Incenter, discussed Ginnie Mae eligibility requirements for single-family MBS issuers. . The post Examining Ginnie Mae’s RFI and Its Impact on the MSR Market appeared first on DSNews. The post Examining Ginnie Mae’s RFI and Its Impact on the MSR Market appeared first on Appraisal Buzz.
Housing Wire
OCTOBER 29, 2021
HouseCanary CEO Jeremy Sicklick. Tech-forward appraisal firms have long hoped regulators would look favorably on hybrid and remote appraisals conducted with third-party data providers. Getting regulators’ blessing would mean access to the firehose of government sponsored enterprise-backed loans for firms that hawk automated valuations. Firms like HouseCanary are currently limited to other uses for appraisals, including for non-QM loans, loan quality control reviews, valuation desk reviews, loss
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