Tue.Jul 27, 2021

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Home prices explode on the West Coast

Housing Wire

Home prices increased across the board in May, leaping 16.6% in the latest S&P CoreLogic Case-Shiller National Home Price Index report. It’s the 12th consecutive month of accelerating prices, and May’s increase set a new record — following the prior month’s record-breaking increase of 14.8%. “A month ago, I described April’s performance as ‘truly extraordinary,’ and this month I find myself running out of superlatives,” said Craig Lazzara, managing directo

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Peculiar Things About Mortgage Compliance That Title Agents Must Know

Appraisal Buzz

BLOG VIEW: Mortgage title issues can prove to be a significant cost to a lender and/or servicer irrespective of whether the loan is insured. Lenders tend to work indirectly trying to cure items already being addressed by the respective underwriter or title agent. That is one of the reasons it is important to engage with a good title agent throughout the mortgage process, as it ensures a smooth closing and helps reduce stress, giving.

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Here’s the key to true, sustainable efficiency in the mortgage industry

Housing Wire

HousingWire recently spoke with SitusAMC CEO Michael Franco about the current market outlook and how lenders can focus on efficiency and stay agile in the midst of market shifts. HousingWire: What’s driving lenders’ need for agility and efficiency in the current market? Michael Franco: The last two years in the mortgage industry have certainly been unique.

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Home Prices in May Saw Largest Annual Increase in More Than 30 Years

Appraisal Buzz

U.S. home prices in May increased 1.7% on an adjusted basis compared with April and were up a whopping 16.6% compared with May 2020, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. The year-over-year increase is a 30-year record – but it is slightly skewed due to the fact that the onset of the pandemic caused a temporary slowdown in home price appreciation in May 2020.

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Stewart bolsters Midwest presence with acquisition

Housing Wire

The arms race is heating up in title. Big Four title insurer Stewart Title has acquired Title First Agency , headquartered in Westerville, Ohio. Title First has office locations in Ohio, West Virginia, Indiana, Illinois, Michigan and Texas, and is licensed to operate in 34 states, the company said in a press release. “Title First has grown into one of the largest independent title agencies in the nation, building strong partnerships across the United States to serve its residential, commercial,

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Stewart Acquires Title First Agency

Appraisal Buzz

The group’s President says the added veteran leadership and expertise will bolster the company’s market presence in the Midwest. The post Stewart Acquires Title First Agency appeared first on DSNews. The post Stewart Acquires Title First Agency appeared first on Appraisal Buzz.

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More Trending

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How to Stop Wasting Time on Spam Calls

The Appraiser Coach

Your phone rings, it’s a local number and you answer right away. Afterall, it could be an appraisal order from a new customer, a potential homeowner, a local bank, or. Read More.

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More Home Price Records; Ownership Declines; What'll The Fed Do To Rates?

Appraisal Buzz

The U.S. Census Bureau says the nation’s Homeownership Rate was at 65.4 percent in the second quarter of 2021. This is down from both the previous quarter’s 65.6 percent , and a year earlier when it was reported at 67.9 percent. However, the Bureau cautions,” When interpreting these estimates and comparing with prior quarters and years, data users should understand and consider changes in data collection operations that occurred during the COVID-19 pandemic.

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Buyers’ Perceptions of Housing Inventory Deteriorate

Eyes on Housing

In the first quarter of 2018, the starting point of the Housing Trends Report (HTR), 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), but then went on to decline to 33% and 28%, respectively, in the first two quarters.

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China, Canada Lead Foreign Investment in U.S. Housing

Appraisal Buzz

A steep decline in international residential property purchases hasn’t hurt the American market, real estate economists report. . The post China, Canada Lead Foreign Investment in U.S. Housing appeared first on DSNews. The post China, Canada Lead Foreign Investment in U.S. Housing appeared first on Appraisal Buzz.

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Second Quarter of 2021 Homeownership Rate at 65.4%

Eyes on Housing

The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate declined to 65.4% in the second quarter of 2021. Compared to prior reports, the data was affected less significantly by the pandemic, since in-person interviews were back in 99% of the sample area. The national homeowner vacancy rate stayed at a record low of 0.9%, while the rental.

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Newrez Launches Non-QM ARM Offerings

Appraisal Buzz

New adjustable-rate products provide more flexible financing solutions for self-employed and first-time buyers. The post Newrez Launches Non-QM ARM Offerings appeared first on theMReport.com. The post Newrez Launches Non-QM ARM Offerings appeared first on Appraisal Buzz.

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FAQ: What are Not In Good Order (NIGO) forms?

GoForrmz

Eliminate opportunities for incomplete forms, inaccurate data, and costly mistakes What are Not In Good Order (NIGO) forms? Not In Good Order Forms (NIGO) are documents that are missing information, completed incorrectly, or contains inaccurate information. Although NIGO forms may simply sound like a nuisance, they can be incredibly costly and problematic for many operations, especially those handling compliance measures and personal information.

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Share of Mortgage Loans in Forbearance Decreases

Appraisal Buzz

The Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey revealed that the total number of loans now in forbearance decreased by 2 basis points from 3.50 percent of servicers’ portfolio volume in the prior week to 3.48 percent as of July 18, 2021. According to MBA’s estimate, 1.74 million homeowners are in forbearance plans.

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Neutral, Unbiased, & Not an Advocate for any Party

Appraiserblogs

Not because they are racist, or because they are biased… but because they feel they can no longer be that “independent, neutral” voice that we have always been counted on to be… The issue of declining an assignment based on the homeowner’s race has come up among appraisers. I believe the core issue is one of Appraiser Independence. How many of us have arrived at a property to have an agent or homeowner make comments that caused us to reconsider whether we should proceed?

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Record Gains Found in May Home Prices

Appraisal Buzz

Home price data in May resulted in the highest readings in more than 30 years for S&P CoreLogic Case-Shiller recording the metric. The post Record Gains Found in May Home Prices appeared first on theMReport.com. The post Record Gains Found in May Home Prices appeared first on Appraisal Buzz.

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Top Ways to Defend Your Work When the Appraised Value Comes in Under Sales Price

McKissock

This year we’ve seen intense homebuyer competition nationwide, with a record-breaking number of homes selling above asking price in March 2021. As a real estate appraiser, you’ve likely encountered assignments in which the purchase price is not supported by the available comps. So, what are the best ways to address complaints and requests in these situations?

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Study: The ‘Increasingly Unattainable’ American Dream

Appraisal Buzz

Several factors, including COVID-19, are dashing young people’s homeownership hopes, and many have sought support from an older generation. The post Study: The ‘Increasingly Unattainable’ American Dream appeared first on DSNews. The post Study: The ‘Increasingly Unattainable’ American Dream appeared first on Appraisal Buzz.

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Could Newly Built Homes Help Level Out the Market?

McKissock

If you’ve spent any time watching the real estate market this year or working in the field, you know we’re navigating one of the hottest seller’s markets on the books. Fortunately, a recent article on HousingWire suggests that a slight decrease in housing material costs could mean the market is beginning to level out. Will the results of those findings take immediate effect?

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How to Stop Wasting Time on Spam Calls

Appraisal Buzz

Your phone rings, it’s a local number and you answer right away. Afterall, it could be an appraisal order from a new customer, a potential homeowner, a local bank, or … Read More. The post How to Stop Wasting Time on Spam Calls appeared first on Appraisal Buzz.

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11 Things Landlords Should Be Doing Every Year… But Probably Aren’t

BiggerPockets

Procrastination can hurt your business, but it’s important to fix problems before something bad happens. Want to be your tenants' favorite landlord ever? Stay organized and on top of things you should do every year.

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Barriers to Millennial Homeownership Mounting

Appraisal Buzz

Researchers say student and medical debt, cost of living, stagnant wages, and a global health crisis are threatening the American Dream. The post Barriers to Millennial Homeownership Mounting appeared first on theMReport.com. The post Barriers to Millennial Homeownership Mounting appeared first on Appraisal Buzz.

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What’s Up in Boston? A Realtor Breaks Down the Market

BiggerPockets

With nearly 700,000 people living in Boston, it’s safe to say New England’s largest city found itself going through drastic changes over the past year. Here's what to know.

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Top Ways to Defend Your Work When the Appraised Value Comes in Under Sales Price

Appraisal Buzz

This year we’ve seen intense homebuyer competition nationwide, with a record-breaking number of homes selling above asking price in March 2021. As a real estate appraiser, you’ve likely encountered assignments in which the purchase price is not supported by the available comps. So, what are the best ways to address complaints and requests in these situations?

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ClearCast Podcast E17 — Digs by OJO CEO & Co-Founder Pat McLoughlin

Clear Capital

Follow ClearCast on LinkedIn , Twitter , Facebook , and Instagram. EPISODE SUMMARY. Jeff and Kenon discuss the need for more housing supply and the CNBC story, “ Builders pull back as more homebuyers are priced out of the market ,” for the News Story of the Pod. Jeff tells a story about lumber prices and logging near his cabin in Wisconsin.

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Affordability Challenges Continue to Haunt Homebuyers

Appraisal Buzz

Housing affordability is on the decline for the third consecutive month, continuing to walk the fine line between supply and material issues and overall demand. The post Affordability Challenges Continue to Haunt Homebuyers appeared first on theMReport.com. The post Affordability Challenges Continue to Haunt Homebuyers appeared first on Appraisal Buzz.

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How to Build Credit to Get a Mortgage Loan

Assurance Financial

How to Build Credit to Get a Mortgage Loan. To get certain types of loans , such as a mortgage, you need to have a good or excellent credit score and a strong credit report to qualify for the best terms possible. But it can be difficult to build a good credit history or establish your credit score without having any loans. If you’re wondering how you can build your credit score, the good news is that there are several options available to help you establish credit and get on the path towar

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Home Prices Surge in May

Appraisal Buzz

S&P CoreLogic Case-Shiller has found that home prices nationwide rose to new highs in May 2021, recording a 16.6% annual gain. The post Home Prices Surge in May appeared first on DSNews. The post Home Prices Surge in May appeared first on Appraisal Buzz.

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How Long Does a Home Inspection Take? A Guide for Investors

Mashvisor

Although home inspections aren’t required by law, most investors can’t afford to do without the benefits they offer.

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BoC on the growing presence of indebted borrowers

Mortgagebroker News

The trend has been building up since at least the second quarter of 2018, the central bank says

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Telegram and Gazette Features Kathy McSweeney in Article About the June Housing Market

Lamacchia Realty

REALTOR® Kathy McSweeney of Lamacchia Realty’s Worcester office was featured in the Telegram & Gazette where she spoke about the strong June housing market. She explained how active the Shrewsbury housing market is, how quickly homes are going off the market if priced correctly, and the current level of competition between buyers. To read the full article, click here or on the picture.

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Governments announce new low-cost housing project in Vancouver

Mortgagebroker News

The city will see the addition of much-needed affordable housing supply over the next few years

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Foreign buyers are avoiding American homes: NAR

Housing Wire

Foreign buyers purchased $54.4 billion worth of U.S. existing homes from April 2020 through March 2021, a 27% decrease from the previous 12-month period, according to a new report from the National Association of Realtors. Though it’s undoubtedly COVID-related, the drop represents the fourth consecutive annual decline in foreign investment in U.S. residential real estate.

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US-based group announces acquisition of Canadian fintech start-up

Mortgagebroker News

The Canadian fintech has been offering advisory services and banking-as-a-service capabilities

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