Housing Wire

MAY 12, 2021

After weeks of decreases , mortgage applications rose 2.1% for the week ending May 7, 2021, according to the most recent report from the Mortgage Bankers Association. Aiding the jump in mortgage applications was another sub-3% week of mortgage rates , which fell officially to 2.96%. “The decline in rates helped the refinance index reach its highest level in eight weeks, driven by a 4% increase in conventional refinances,” said Joel Kan, MBA’s associate vice president of economi

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Appraisal Buzz

MAY 12, 2021

Mortgage lender Quicken Loans says it will officially change its name to Rocket Mortgage on July 31. The company says the change “will bring alignment to the overall ‘Rocket’ brand.”. “More than 20 years ago, Dan Gilbert, our founder and chairman, had a vision of putting the entire mortgage process online to simplify the lending experience and add more transparency.

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Housing Wire

MAY 12, 2021

It’s been rejection after rejection for Isabel Williams’ client, a military veteran in Port St. Lucie, Florida. Since the client began the search for her dream home earlier this year, her Veterans Affairs mortgage loan offers have been rejected over a dozen times. Williams, the broker-owner of We Save Loans , said her client has all but given up on buying an existing home with VA financing.

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Sacramento Appraisal Blog

MAY 12, 2021

Prices growth has been insane lately and that’s pretty much how the rental market feels too. Let’s talk about this and a few other things. Enjoy. Three Things: 1) THE ASTERISK IN THE ROOM: Home price stats are truly crazy right now across the country. It’s mind-blowing to see prices up 15-20% from one year […].

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Housing Wire

MAY 12, 2021

Even with historically low levels of inventory, rising mortgage rates and uneven job growth, experts still believe 2021 will be a record year for home sales. How much will be spent on homes? Officials are predicting sale numbers to easily eclipse $1 trillion by years end. Redfin projected $2.53 trillion in home sales this year, a 17% increase year over year — the largest annual percentage increase since 2013, and a number that, if reached, would be a record high.

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Appraisal Buzz

MAY 12, 2021

A new blog examines the pros of constructing smaller homes, as housing inventory continues to lag behind demand nationwide. The post Are Smaller Homes the Cure to Inventory Concerns? appeared first on DSNews. The post Are Smaller Homes the Cure to Inventory Concerns? appeared first on Appraisal Buzz.

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Appraisal Buzz

MAY 12, 2021

Ginnie Mae says its mortgage-backed securities (MBS) issuance volume was a record $89.7 billion in April, up from $82.25 billion in March. Approximately 332,300 homes and apartment units were financed by Ginnie Mae-guaranteed MBS in April. “Investors continue to add Ginnie Mae MBS to their fixed-income portfolios because of the high quality and liquidity of the securities,” says Ginnie Mae’s Michael Drayne.

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Housing Wire

MAY 12, 2021

Five years after introducing the Rocket Mortgage brand for digital lending, Rocket Companies will finally retire the legacy Quicken name on July 31. “More than 20 years ago, Dan Gilbert, our founder and chairman, had a vision of putting the entire mortgage process online to simplify the lending experience and add more transparency. Since then, we developed proprietary technology to improve every piece of the process but we officially revolutionized the mortgage industry when we launched Ro

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Appraisal Buzz

MAY 12, 2021

In today’s Buzzcast, we dive into the topic of the new legislation happening and how it’s affecting appraisers. Today we have Bill Garber, Director of Government and External Relations from The Appraisal Institute giving a deeper look with Joan Trice, Founder of Allterra Group, LLC. They delve into the specific changes that appraisers need to know.

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Housing Wire

MAY 12, 2021

Compass CEO Robert Reffkin. On her website bio, Pittsburgh real estate agent Jen Crouse describes why she finds meaning in her work. “At the end of the day,” Crouse states. “We all want to love where we live and who we invest our time with.”. But who Crouse invests her own time with is a heated dispute between the agent’s old brokerage, the venerable Howard Hanna , and her new one, meteorically growing Compass.

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Appraisal Buzz

MAY 12, 2021

Black Knight Inc. has expanded its mortgage servicing rights (MSR) valuation solution to provide more detailed visibility into the value and performance of servicing assets and market economics. The Black Knight MSR Platform is designed to support the needs of lenders and servicers of all sizes and growth stages by providing customized delivery options ranging from high-level, daily reporting to granular, loan-level analytics. “Servicing rights are often the largest entry on a mortgage ba

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George Dell

MAY 12, 2021

Is it time that matters? Or is it different market conditions? At one point, I was told to stop teaching that it’s a ‘time adjustment’. Because it’s actually a ‘market conditions’ adjustment. This bothered me. It seemed like yet another step backward in the march of appraisal practices. Comparing market conditions at two different time-groups […].

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Appraisal Buzz

MAY 12, 2021

After bottoming out at 2 month lows late last week, mortgage rates have been heading higher. At first, the move was relatively gradual, but the pace increased today after a key report on inflation came out much stronger than expected. Why do rates care about inflation? Here’s a quick explainer for those who need it: Mortgage rates are primarily determined by trading in the bond market.

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Eyes on Housing

MAY 12, 2021

Both headline inflation and core inflation jumped in April, reflecting strong consumer demand for products and services as the economy reopens from the COVID-19 recession. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose by 0.8% in April on a seasonally adjusted basis, after an increase of 0.6% in March. It marks the largest increase.

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Appraisal Buzz

MAY 12, 2021

A new study found that properties marketed via 3D technology are garnering more attention and selling quicker than those using professional photography. The post 3D Tours Boosting SFR Marketing Efforts appeared first on DSNews. The post 3D Tours Boosting SFR Marketing Efforts appeared first on Appraisal Buzz.

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Valuation Review

MAY 12, 2021

CoreLogic Valuations Principal George Paquette and Chief Appraiser Shawn Telford offer more insight into the hot topic of appraisal waivers and lending decisions. “Understanding the condition of the collateral is important in making a sound lending decision,” Telford noted. Read on for more insight.

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Appraisal Buzz

MAY 12, 2021

The proliferation of telework has become a strong influencer among Americans shopping for homes to accommodate their employment situations. The post Measuring the Impact of Remote Work on Housing Decisions appeared first on DSNews. The post Measuring the Impact of Remote Work on Housing Decisions appeared first on Appraisal Buzz.

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Appraisal 195

BiggerPockets

MAY 12, 2021

Should you add self-storage investments to your portfolio? The flexibility to move with the market makes these properties immensely profitable investment—if managed correctly.

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Appraisal Buzz

MAY 12, 2021

Empowered by remote work opportunities, an increasing number of home shoppers are factoring employment into their homebuying choices. The post Employment Options Weighing Heavier on Homebuyers appeared first on theMReport.com. The post Employment Options Weighing Heavier on Homebuyers appeared first on Appraisal Buzz.

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BiggerPockets

MAY 12, 2021

As real estate investors, we are uniquely positioned to profitably extract intrinsic value from fragmented assets—and help our tenants and investors in the process. Here's how to invest like Buffett.

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Appraisal Buzz

MAY 12, 2021

According to the U.S. Courts website, the fundamental goal of the Federal bankruptcy laws enacted by Congress is to give debtors a financial “fresh start” from burdensome debts and provides for “liquidation” in a Chapter 7 filing—the sale of a debtor’s property and the distribution of the proceeds to creditors. The Question Is, Does It? … The post Is Chapter 7 Bankruptcy Broken?

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Valuation Review

MAY 12, 2021

Eric Schloemer has been promoted to director of business development for Tiger Group, which specializes in a variety of asset dispositions and commercial valuations, as well as secured debt financing and equity investments, the company announced in a release. Read on for more details.

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Appraisal Buzz

MAY 12, 2021

After several weeks of decline, mortgage apps are slowly gaining steam, rising once again and led by an uptick in refi volume. The post Low Rates Breathe Life Into Mortgage Apps appeared first on theMReport.com. The post Low Rates Breathe Life Into Mortgage Apps appeared first on Appraisal Buzz.

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Valuation Review

MAY 12, 2021

Walker & Dunlop, Inc. and GeoPhy said their multifamily appraisal business, Apprise, has expanded to the West Coast with the hiring of Jacinto Munoz, managing director of the Head of Strategy and Compliance department. Read on to learn more.

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Appraisal Buzz

MAY 12, 2021

Risk, audit, and management expert joins leadership team, bringing with him, 23 years of industry experience. The post Raj Singh Named CRO of NewRez appeared first on theMReport.com. The post Raj Singh Named CRO of NewRez appeared first on Appraisal Buzz.

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Valuation Review

MAY 12, 2021

BBG has appointed Brandon Davis, as managing director at its headquarters in Dallas. Davis will be responsible for management, client liaison, business development, appraisal production, and training, the company announced in a release. Read on to learn more.

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Quicken Loans

MAY 12, 2021

Tying the knot comes with a lot of financial implications. It can: Raise your taxes. Lower your taxes (if you’re lucky). Affect the types of retirement accounts you can get. Affect how much you pay for insurance. And, in some cases, getting married can even affect your mortgage. There are a lot of things to consider when you’re getting ready to buy a house.

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Valuation Review

MAY 12, 2021

Incremental increases in homeownership rates and home values among Black households would help shrink the current $3 trillion racial wealth gap by hundreds of billions of dollars. This is projected to happen over the next decade, according to a new Zillow analysis. Read on for more from this report.

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Eppraisal

MAY 12, 2021

If you're in the market to buy a home right now, you're probably finding out that it's not easy. According to the National Association of Realtors (NAR) existing home sales are -3.7% month-over-month. This is a direct result of the historically low inventory of homes available for sale as buyers are competing for homes. NAR statistics cite that across the country the average number of offers on an existing home is between two and six.

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Valuation Review

MAY 12, 2021

The National Credit Union Administration has renewed temporary measures designed to give credit unions relief during the COVID-19 pandemic. Read on for more details.

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Design 60

Quicken Loans

MAY 12, 2021

If you’re getting ready to close on your new home, congratulations! There’s no other feeling quite like the sense of accomplishment that comes with buying a home. Whether you’re a first-time home buyer or a seasoned homeowner moving into your dream home, you might have a lot of thoughts running through your mind, many of which revolve around moving.

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Mashvisor

MAY 12, 2021

When you search on Google using the phrase ‘is real estate a good investment’, you will get over 800 million search results.

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BiggerPockets

MAY 12, 2021

Amanda Han is a familiar face to the BiggerPockets audience. She’s been featured on the BiggerPockets podcasts before and has written multiple books published by BiggerPockets (The Book on Tax […].

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Real Estate 56

Quicken Loans

MAY 12, 2021

You’re purchasing a new home, and right before you’re supposed to close, you find out something on the property needs to be fixed. Now your closing date is pushed back. Sound familiar? It happens more often than you might think. Oftentimes, after an appraisal , repairs need to be done before the close date. But what happens if you need to close sooner?

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