Mon.Sep 13, 2021

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Red-hot US housing market begins to cool

Housing Wire

Though the demand for homes remained strong across the United States in August, there are clear signs that the housing market is past its peak. A report from residential brokerage Redfin found that pending sales across 400 metro areas were up 6% year over year in the four weeks that ended Sept. 5. Still, the 69,563 homes that went into contract represented a 9% decrease from the high point set in May 2021.

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Cash-Out Refinance Volume Continued to Rise in August

Appraisal Buzz

Overall rate locks were up 1.3% in August compared with July, driven by a 7.6% increase in cash-out refinance activity, according to Black Knight’s Originations Market Monitor. The increase put cash-out refinance lending up more than 41% during the last three months. What’s more, cash-out refinancing was up 30% compared with August 2020. The increase in cash-out activity was enough to push the overall refinance share of the market mix back above 50% for.

Lending 195
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How demographics shaped the housing market in 2021

Housing Wire

As we come to the end of 2021, we also approach the end of another year living with COVID-19. The year 2020 was one of the most chaotic times in recent history. Although 2021 seems normal in comparison, it is perhaps even stranger because as a country, we have learned to normalize the consumption of goods and services with an active virus infecting and killing Americans each day.

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Rates Flat to Start Week; Quiet Summertime Monday Leaves Bonds Slightly Stronger

Appraisal Buzz

Quiet Summertime Monday Leaves Bonds Slightly Stronger Treasuries have experienced more of the volatility in the bond market than MBS recently. That makes sense given last week’s auction cycle and the ongoing glut of corporate bond issuance. Volume and volatility were both minimal today as yields casually bumped the bottom of the consolidation range and coasted sideways for the rest of the day.

Appraisal 195
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Servicer call volume up as borrowers exit forbearance

Housing Wire

After a slight lull , forbearance numbers across the board have started to lurch downwards, with the total number of loans dropping by 15 basis points to 3.08% as of Sept. 5, according to the Mortgage Bankers Association ‘s latest survey. The portfolio loans and private-label securities (PLS) category, which has remained stubbornly high, saw the most notable decline last week, dipping by 25 bps to 7.27%, the report said.

Mortgage 424
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Biden Nominates Alanna McCargo for Ginnie Mae President

Appraisal Buzz

President Biden has nominated Alanna McCargo, Senior Advisor for Housing Finance in the U.S. Department of Housing and Urban Development (HUD), to be President of Ginnie Mae. It has been about four years since Ginnie Mae—which serves as the principal financing arm for government mortgage loans, ensuring that mortgage lenders have the necessary funds to provide … The post Biden Nominates Alanna McCargo for Ginnie Mae President appeared first on theMReport.com.

Finance 195

More Trending

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Enact Re-Announces IPO 

Appraisal Buzz

After initially postponing due to volatility in the mortgage insurance market, Enact commences its IPO. . The post Enact Re-Announces IPO appeared first on DSNews. The post Enact Re-Announces IPO appeared first on Appraisal Buzz.

Insurance 195
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Daniella Casseres to speak at HW Annual Sept. 27-28

Housing Wire

The regulatory environment for the mortgage industry is experiencing a period of turbulence as President Biden has ushered in a new era of regulation under his administration. That’s why HousingWire invited attorney Daniella Casseres to HW Annual to discuss just what these new regulations mean for those in the housing economy. . Casseres is a partner at Offit Kurman working in their Financial Institutions Compliance Practice Group, which focuses on laws and regulations governing mortgage lenders

Law 370
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Biden Nominates Alanna McCargo as Ginnie Mae President

Appraisal Buzz

President Biden has nominated Alanna McCargo, Senior Advisor for Housing Finance in the U.S. Department of Housing and Urban Development (HUD), to be President of Ginnie Mae. It has been about four years since Ginnie Mae—which serves as the principal financing arm for government mortgage loans, ensuring that mortgage lenders have the necessary funds to provide … The post Biden Nominates Alanna McCargo as Ginnie Mae President appeared first on DSNews.

Finance 195
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@properties leaders poised for strategic growth

Housing Wire

Today’s RealTrending features an interview with with Mike Golden and Thad Wong, co-founders of @properties. A powerhouse in the Chicagoland area, the brokerage firm is now expanding to to other areas. Wong and Golden discuss their franchising strategy, their technology platform and their strategic plan for the coming year. Here is a small preview of today’s interview with @properties co-founders Thad Wong and Mike Golden.

Brokerage 378
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Zaid Shariff: Complaint Resolution Technology Adoption Lagging in Mortgage Industry

Appraisal Buzz

PERSON OF THE WEEK: One of the main responsibilities of any mortgage servicer is resolving borrower complaints. Note that the term used is “resolving” – as opposed to “handling.” A mortgage servicer should be able to do much more than just receive complaints and categorize them. It must be able to determine if a complaint is part of a pattern.

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Old Republic settles anti-competitive charges

Housing Wire

Title insurance giant Old Republic International will pay $1 million to settle charges that it entered into “no-poach” agreements to stifle labor competition, the New York Attorney General’s Office said late last week. “For years, Old Republic stifled competition in the labor market, but this agreement ends the company’s illegal conduct, while putting all businesses on notice that no-poach agreements will not be tolerated in New York State,” New York Attorney

Insurance 343
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Title Insurance Premiums Reach Historic Volume

Appraisal Buzz

The strong purchase market, continued home appreciation, and other factors helped drive a 56% increase, according to the American Land Title Association CEO. The post Title Insurance Premiums Reach Historic Volume appeared first on DSNews. The post Title Insurance Premiums Reach Historic Volume appeared first on Appraisal Buzz.

Insurance 195
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Women Make Up 10.9% of the Construction Workforce

Eyes on Housing

The number of women employed in the construction industry grew slightly in 2020, rising to around 1.17 million, while the construction industry lost 587,000 jobs in 2020 when the pandemic hit the economy. Currently, women make up a growing share of the construction employment, up to 10.9% in 2020 from 10.3% in 2019. As the construction skilled labor shortage remains.

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Announcing Five Star’s Excellence in Leadership Award Finalists

Appraisal Buzz

During the 2021 Five Star Conference, women making a difference in the industry will be honored at the Women in Housing Leadership Awards Luncheon, as we get to know the nominees for the 2021 Excellence in Leadership Award. The post Announcing Five Star’s Excellence in Leadership Award Finalists appeared first on DSNews. The post Announcing Five Star’s Excellence in Leadership Award Finalists appeared first on Appraisal Buzz.

Appraisal 195
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GoFormz Recognized By G2 Crowd In Top Categories For Fall 2021 Report

GoForrmz

GoFormz, the leading mobile forms and data capture platform, has been awarded top honors in G2 Crowd’s Mobile Forms Automation category. G2 Crowd, a peer-to-peer software review site, awards these honors based on user feedback and reviews. GoFormz’s awards include: Leader (products rated highly by G2 users and have substantial Satisfaction and Market Presence scores) Momentum Leader (products in the Leader tier rank in the top 25% of their category's products by their users) Easiest Setup Easies

Business 158
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The Industry’s Female Leaders to be Recognized in Dallas

Appraisal Buzz

Women pioneers in the mortgage space will be recognized by their peers in-person, in Dallas at the upcoming Five Star Conference as five nominees for the 2021 The Excellence in Leadership Award are highlighted. The post The Industry’s Female Leaders to be Recognized in Dallas appeared first on theMReport.com. The post The Industry’s Female Leaders to be Recognized in Dallas appeared first on Appraisal Buzz.

Appraisal 195
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Price Index for Inputs to Residential Construction Declines in August

Eyes on Housing

Prices paid for goods used in residential construction ex-energy decreased 0.7% in August (not seasonally adjusted), according to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics. The decrease was largely driven by a decline in lumber and wood products prices and was the first monthly decline since the start of the last recession.

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Cash-Out Refis Drive Rate Lock Volume Rise

Appraisal Buzz

High-credit-score and high-balance borrowers were motivated to refinance by early August sub-3% rates, analysts say. The post Cash-Out Refis Drive Rate Lock Volume Rise appeared first on theMReport.com. The post Cash-Out Refis Drive Rate Lock Volume Rise appeared first on Appraisal Buzz.

Appraisal 195
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What To Do When You’ve Inherited Property

D Fritz Appraisals

Inheriting Real Estate – Should you Keep or Sell? Inheriting property can be an emotional event. In one way, your family just lost a loved one. On the other hand, you’ve possibly been gifted one of the biggest contributions of your life. Dealing with whatever life throws at you can be complicated, but luckily there are professionals to help you every step of the way while you grieve and process.

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Forbearance Exits Jump to Their Quickest Pace in Six Months

Appraisal Buzz

he number of Americans currently in forbearance plans hit approximately 1.5 million homeowners this week, as forbearance volume dove 15 basis points from the previous week. The post Forbearance Exits Jump to Their Quickest Pace in Six Months appeared first on DSNews. The post Forbearance Exits Jump to Their Quickest Pace in Six Months appeared first on Appraisal Buzz.

Appraisal 195
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I’ve Retired & I’m So Glad I Did

Appraiserblogs

What we got, was 30+ years of complaints from the lenders and politicians who blamed appraisers for all of the lenders and political wrong doings… I retired 2 months ago, and I am SO GLAD I did. I’ve had enough. I decided on an appraisal career because I found real estate, and especially the valuation of homes to be extremely fascinating and challenging, and although I had heard that the appraisal profession was making changes back 30+ years ago, I “assumed” it was becomi

Law 100
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A Key Tool to Avoid Foreclosure

Appraisal Buzz

As forbearance ends and moratoria expire, servicers and homeowners are embracing auction as an option. Here’s why. The post A Key Tool to Avoid Foreclosure appeared first on DSNews. The post A Key Tool to Avoid Foreclosure appeared first on Appraisal Buzz.

Tools 195
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‘On the road’ with AI President Rodman Schley

Valuation Review

Recently, Valuation Review traveled to Orlando, Fla. for the 2021 Appraisal Institute (AI) Annual Conference “Rising to the Challenge.” We caught up with Rodman Schley for our traditional sit-down conversation with the AI president. Read on to find out what Schley told us.

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The Essential Elements of the Creative Financing Toolbox

BiggerPockets

Creative financing allows investors to quickly grow their portfolio and invest in properties traditional lenders won't touch. Here are the power tools you need to win with creative financing.

Finance 75
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Homebuyer bidding-war rate drops

Valuation Review

In July, 60.1 percent of home offers written by Redfin agents faced competition, down from a revised rate of 66.5 percent in June and a pandemic peak of 74.1 percent in April. This is according to a recent Redfin report.

Agents 60
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Can You Build Wealth by Rezoning Your Property? Yes! Here’s How

BiggerPockets

Property rezoning can be a lucrative opportunity for landowners to convert their property, but there are many considerations and a whole property rezoning process to go through to get it done.

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AppraisalWorks innovates technology platform

Valuation Review

AppraisalWorks, a provider of real estate appraisal technology, announced innovations to its flagship appraisal management technology platform. The platform is designed to streamline the real estate appraisal process, helping lenders and servicers achieve lower costs, faster turn times and greater transparency.

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BiggerPockets Podcast 505: “Act Like You Have 100+ Units” | Coaching Calls w/ Brandon Turner

BiggerPockets

You hear Brandon Turner’s voice quite often on the BiggerPockets Real Estate Podcast, but rarely is it heard advising new investors. Today, Brandon is taking on three live “coaching calls” […].

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AQB adopts criteria changes

Valuation Review

The Appraiser Qualifications Board (AQB) recently adopted a new edition of the Real Property Appraiser Qualification Criteria. The Criteria set qualification standards for real property appraisers in the United States and provide continuing education guidelines for current appraisers to maintain their appraisal license.

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Technology and Humor Spell Success for Illinois Agent Matt Pittman

McKissock

With the wide range of career paths available to real estate professionals, each agent has a different story to tell. In this series, we bring you the stories of successful individuals who’ve taken their real estate careers in various directions. We sat down with each of them to talk about how they got started in the industry and the twists and turns they’ve taken along the way.

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Voxtur strengthens cloud-based valuation platform

Valuation Review

Voxtur Analytics Corp. recently announced that its wholly owned U.S. subsidiary, Voxtur Analytics US Corp., has agreed to acquire all the issued and outstanding membership interests of Xome Services LLC and Xome Valuation Services LLC. Xome Valuations is a provider of valuation management products and services to clients in the residential real estate sector.

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AirDNA vs. Mashvisor: Which One Is the Better Source of Airbnb Data?

Mashvisor

If you’re thinking of investing in short term rentals in the US market, you must be wondering about the best source of Airbnb data.

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Zillow: Homes may be worth more as rentals

Valuation Review

Memphis, Miami and Atlanta lead a host of metros where rents are higher than typical mortgage payments, according to Zillow. The Zillow Rental tools make it easier than ever to assess the possibility and opportunities of becoming a landlord. Read on to learn more from the report.