Mon.Jun 28, 2021

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CFPB’s roadmap for the forbearance exit

Housing Wire

The Consumer Financial Protection Bureau (CFPB) today released extensive mortgage servicing regulations it hopes will prevent “unwelcome surprises” for borrowers exiting forbearance. Across more than 200 pages, the CFPB laid out the rules for mortgage servicers to follow in the coming months — shortly after it warned them, “Unprepared is unacceptable.”.

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loanDepot Announces New EVP, Chief Risk Officer

Appraisal Buzz

Karin Lockovitch, who will be responsible for all aspects of enterprise risk management, brings an extremely impressive track record and depth of experience, a company spokesperson says. The post loanDepot Announces New EVP, Chief Risk Officer appeared first on theMReport.com. The post loanDepot Announces New EVP, Chief Risk Officer appeared first on Appraisal Buzz.

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Being Liberal with Values Hurts Homeowners

Appraiserblogs

Why can’t it just be accurate instead of “conservative” or “liberal?” Just be precise in the way you do your job… Some people might say a public forum isn’t the place to air this dirty laundry, but this is not really a public forum. Of my thousands of readers, very few of them are not in real estate appraisal. Right now, I’m talking to the bad apples.

Legal 146
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Case-Shiller: Home Prices Continued to March Upward in March

Appraisal Buzz

U.S. home prices increased 1.5% on an adjusted basis in March compared with February and were up 13.2% compared with March 2020, according to the S&P CoreLogic Case-Shiller Home Price Index. Part of the reason for the dramatic year-over-year increase is because the economic impact of the pandemic on the housing market took hold in March 2020. The housing market then quickly recovered due to strong demand from home buyers fleeing the cities for.

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State-Level GDP in the First Quarter of 2021

Eyes on Housing

Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the first quarter of 2021 compared to the last quarter of 2020. According to the U.S. Bureau of Economic Analysis (BEA), the percent change increase in real GDP ranged from 10.9 percent in Nevada to 2.9 percent in the District of Columbia. Nationwide, growth in.

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Rate of Forbearance Exits Slows

Appraisal Buzz

An improvement in overall economic conditions is allowing more homeowners to regain their pre-pandemic financial footing, with the share of loans in forbearance sliding for the 17th consecutive week. The post Rate of Forbearance Exits Slows appeared first on DSNews. The post Rate of Forbearance Exits Slows appeared first on Appraisal Buzz.

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Homepoint Merging Large-Lender Resources with ‘Small-Lender Feel’

Appraisal Buzz

Wholesale mortgage lender Homepoint has debuted Amplify, its new service model that combines localized support with Homepoint’s national platform for mortgage brokers. Under this new model, Homepoint will form regional support teams aligned with Homepoint’s six regions: Central, Northeast, Northwest, South, Southeast and Southwest. Each region will have designated teams of loan coordinators, underwriters, closers and loan funders paired with account executives that already service broker p

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Reports: A few items for appraisers to consider

Valuation Review

In today’s uptick market, there continues to be occasional challenges for appraisers when writing appraisal reports. There are instances when the slightest of details that go overlooked can result in increased revision requests and a much lengthier appraisal process. Director of Product Management Jeremy Staudenmaeier, from ACI-a First American company, shared a few tips with Valuation Review to pass along to appraisers.

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CFPB Shields At-Risk Homeowners From Foreclosure Moratoria Expiration

Appraisal Buzz

In order to protect millions of at-risk homeowners from foreclosure actions, the CFPB has issued a new set of rules to ensure a smooth transition as they exit forbearance plans. The post CFPB Shields At-Risk Homeowners From Foreclosure Moratoria Expiration appeared first on theMReport.com. The post CFPB Shields At-Risk Homeowners From Foreclosure Moratoria Expiration appeared first on Appraisal Buzz.

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ICE Mortgage Technology acquires new technology

Valuation Review

ICE Mortgage TechnologyTM said it will deploy an eVault solution for secure storage of digital mortgages and notes, based upon technology acquired from DocMagic, Inc. Read on to learn more.

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Addressing the Housing Needs of Small and Midsize Cities

Appraisal Buzz

A new NYU Furman Center initiative will work to advance racial equity and decreased the homeownership gap in cities nationwide. The post Addressing the Housing Needs of Small and Midsize Cities appeared first on DSNews. The post Addressing the Housing Needs of Small and Midsize Cities appeared first on Appraisal Buzz.

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15 vs. 30-Year Mortgages

Assurance Financial

When you’re shopping around for a mortgage, there are several choices you’ll make that affect the monthly payment on the loan and how much you end up paying to own your home. One decision to make is how long your mortgage will last. Options include 10, 15, 20 and 30-year mortgages. Of the various loan terms, 15-year and 30-year mortgages tend to be the most common.

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FHFA Adds to Its Leadership Team

Appraisal Buzz

Just days after Sandra L. Thompson was named Acting Director, the FHFA continued to bolster its support staff with the appointment of three more to its leadership ranks. The post FHFA Adds to Its Leadership Team appeared first on DSNews. The post FHFA Adds to Its Leadership Team appeared first on Appraisal Buzz.

Appraisal 195
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Why Did Home Sales Miss the Mark in May?

BiggerPockets

The average selling prices for homes continue to blast new records each month—and both prospective buyers and homebuilders are feeling the effects. Add in a once-in-a-decade mix of high material costs and ongoing construction labor shortages, and you have more than enough reasons to expect the pace of home sales to slow down, despite friendly mortgage rates.

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Homes Selling for 2.3% Above List Price

Appraisal Buzz

Even with a slight market cooldown, homes are still selling at all-times highs and in record time, as found by a new Redfin report. The post Homes Selling for 2.3% Above List Price appeared first on DSNews. The post Homes Selling for 2.3% Above List Price appeared first on Appraisal Buzz.

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NAR: Vacation-home sales soaring

Valuation Review

The sale of and demand for vacation homes skyrocketed during the COVID-19 pandemic, according to a new study from the National Association of Realtors. Read on for more numbers.

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Housing Metrics Point to Worsening Affordability

Appraisal Buzz

Rapid appreciation is driving unaffordability, despite rising incomes and lower mortgage rates. But what does the foreseeable future hold? Experts dive into new data. The post Housing Metrics Point to Worsening Affordability appeared first on theMReport.com. The post Housing Metrics Point to Worsening Affordability appeared first on Appraisal Buzz.

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OCC: Addressing appraisal bias requires ‘collective effort’

Valuation Review

Acting Comptroller of the Currency’s Michael Hsu told attendees at a Consumer Financial Protection Bureau roundtable that banks are being held accountable for bias when they rely on housing appraisals that are discriminatory. Read on for more of Hsu’s comments.

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Homes Selling for 2.3% Above List Price

Appraisal Buzz

Even with a slight market cooldown, homes are still selling at all-times highs and in record time, as found by a new Redfin report. The post Homes Selling for 2.3% Above List Price appeared first on theMReport.com. The post Homes Selling for 2.3% Above List Price appeared first on Appraisal Buzz.

Appraisal 195
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Corridor Capital, Nationwide Property & Appraisal Services announce acquisition

Valuation Review

Nationwide Property & Appraisal Services, LLC, a portfolio company of Corridor Capital, completed its acquisition of First Choice Appraisal Management, Inc. (FCAM). The transaction was also in partnership with FCAM founder Jeff Richards and CEO Jim Baumberger, Corridor Capital announced in a release. Read on for more terms of this acquisition.

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New CFPB Rules Drafted to Ease Surge in Foreclosures

Appraisal Buzz

With federal foreclosure protections just days away from being lifted, the CFPB has taken steps to facilitate a smooth transition to protect consumers and the overall American economy. The post New CFPB Rules Drafted to Ease Surge in Foreclosures appeared first on DSNews. The post New CFPB Rules Drafted to Ease Surge in Foreclosures appeared first on Appraisal Buzz.

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Class Valuation acquires SouthEastern Evaluation

Valuation Review

Class Valuation has acquired South Carolina-based appraisal management company (AMC) SouthEastern Evaluation (SEE), the company announced. Class Valuation is a technology-enabled AMC focused on providing regulatory-compliant appraisals to the nation’s largest mortgage lenders and originators. Read on for more details.

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Economist on Housing Unaffordability: Likely to Worsen Before Improving

Appraisal Buzz

While today’s market strongly favors the seller, data shows that doesn’t necessarily mean one should not “buy now if you can find it.” The post Economist on Housing Unaffordability: Likely to Worsen Before Improving appeared first on DSNews. The post Economist on Housing Unaffordability: Likely to Worsen Before Improving appeared first on Appraisal Buzz.

Sellers 195
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“Jack of All Trades” Doesn’t Always Win in Real Estate—So Choose Your Niche Correctly

BiggerPockets

Mastering one strategy works much better than trying a hundred different ones, but it’s important to choose the real estate investing strategy that will work best for you, your personality, and your circumstances.

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Homebuying Demand Slips Below 2020 Levels

Appraisal Buzz

For the first time in 2021, the demand for homes has fallen below last year’s levels, with high prices turning many would-be buyers away from a still-completive marketplace. The post Homebuying Demand Slips Below 2020 Levels appeared first on DSNews. The post Homebuying Demand Slips Below 2020 Levels appeared first on Appraisal Buzz.

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Las Vegas ASA International Appraisal Conference, October 2021

Magnusson Group

Las Vegas ASA International Appraisal Conference, October 24-26, 2021. Never having been to Las Vegas, I hadn’t heard much about the art scene there. In fact, there’s an abundance of extraordinary contemporary artworks there. Nearly all of these are free to see: Banksy, Shepard Fairey, Andy Warhol, Takashi Murakami, KAWS, and there’s even a private dining room at Scotch 80 Prime (one of the Fertittas Brothers’ famed restaurants) called the “Basquiat Room” which houses five of the la

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What is House Hacking in Real Estate?

Mashvisor

For many people in the U.S., it is expensive to own a house. This is especially the case when it comes to properties that are located in desirable areas.

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Revealed – Canada’s most desirable cities for millennials

Mortgagebroker News

Find out what draws the country's largest demographic to a city

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How to Find Buyers for Your Off Market Properties for Sale

Mashvisor

Are you looking to sell your property but feel overwhelmed with the process of marketing it?

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The key questions on the Canadian housing market’s current trajectory

Mortgagebroker News

CEO says a late-summer surge could well be in the offing

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Should You Hire a Professional Home Stager?

REX Real Estate

Home staging is the process of strategically decorating and placing furniture in a home…

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The appraisal industry’s hidden hand

Housing Wire

After attending the eponymous university of pioneering televangelist Oral Roberts, David DeZarn decided that his life’s calling was to be a pastor. DeZarn became an ordained minister – “I married them and I buried them,” he said – and immersed himself in youth church services by the early 1990s. The church never quite paid the bills, and DeZarn needed a flexible second job.

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Home Listing Tips that Every Real Estate Agent Needs to Know

CA Realty Training

By Bettina Siochi. Securing a home listing is a big accomplishment. But, that’s only half of the work. The real challenge is selling the actual property. So, now that you have a listing, how do you sell it? Here are the 5 home listing tips that every real estate needs to know to sell a home. Tip #1: Prepare. Preparation is crucial when it comes to selling your listings.

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RBC on new home construction in Canada

Mortgagebroker News

Investment trends will be a major factor in near-future shifts, the bank says