Mon.Nov 29, 2021

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Pending home sales shock 2021 housing crash bears

Housing Wire

Today, pending home sales came in as a big beat of estimates — up 7.5% in October — and since we are days away from December, we can officially label the 2021 housing crash bears as even worse than the 2020 housing crash bears. Like I have often said, professional grifters have plagued the housing sector for many years and shouldn’t be looked to as fundamental economic sources of information.

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Cost Approach in Fifteen Minutes or Less

Appraisal Buzz

This article was first published in the Fall 2021 Edition of Appraisal Buzz Magazine. To receive this subscription directly, click here. Appraisers use three different property valuation methods: (1) Sales Comparison relates the estimated value of our subject property to similar settled, active, and pending market sales. (2) The Income Approach considers the present value of expected future cash flows. (3) Cost Approach has a basic formula: Property Value = Land Value plus Cost New minus Depre

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Underwriter shortage slowing the pace of private-label deals

Housing Wire

The supply-chain bottleneck afflicting the global economy has its own counterpart in the world of residential mortgage-backed securities, also referred to as RMBS. One group of industry players — loan underwriters — are the chief cause of the logjam. They are in high demand for each stage of the mortgage process, yet they are in seriously short supply in a still-booming mortgage market.

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Analyzing FEMA’s Flood Insurance Revisions

Appraisal Buzz

Bad news for homeowners with a flood insurance policy—for the majority of homeowners in flood zones, rates are more than likely going to go up when the policy renewal time comes around. Starting October 1, 2021, the Federal Emergency Management Agency (FEMA) switched to a new risk rating system colloquially known as “Risk Rating 2.0” which changes how risk is assessed to homeowners.

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MISMO searches for participants for closing initiative

Housing Wire

The Mortgage Industry Standard Maintenance Organization (MISMO) announced last week that the organization is looking for participants for an initiative focused on standardizing pre-closing title document data sets. MISMO hopes that the initiative will streamline the business process and improve the efficiency of the closing process. The process for reviewing pre-closing title data and documents is currently not standardized, meaning that it can differ from brokerage to brokerage or even agent to

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Securent, a SitusAMC Insurance Services Branch, Launches

Appraisal Buzz

Securent , a provider of comprehensive risk management and insurance programs for mortgage and mortgage-backed securities (MBS) stakeholders, has launched. A subsidiary of SitusAMC , Securent’s loan defect insurance protects primary and secondary mortgage participants against risk associated with defects introduced in the loan manufacturing process, including underwriting defects, compliance violations, fraud and misrepresentation, and appraisal errors, while increasing loan value, improving tra

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More Trending

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New Home Sales Increased Slightly in October but are Down From a Year Ago

Appraisal Buzz

New home sales increased 0.4% in October compared with September but were down 23% compared with October 2020, according to estimates from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. New home sales were at a seasonally adjusted annual rate of 745,000, as of the end of October, up from a rate of 742,000 in September.

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Veteran appraiser lands in a new spot

Valuation Review

Veteran appraiser Tony Pistilli has seen and accomplished a lot over his last 30 years in the business. Recently, he moved to Accurate Group. Valuation Review sat down with Pistilli to discuss this new chapter in his business life. Read on for more of our conversation.

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Pending Home Sales Rebound in October

Appraisal Buzz

Reversing the trend of just one month ago, pending sales of U.S. homes rose 7.5% in October as consumers regained their financial footing to lock in rates before an anticipated rise. The post Pending Home Sales Rebound in October appeared first on DSNews. The post Pending Home Sales Rebound in October appeared first on Appraisal Buzz.

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How to Prepare for Online Real Estate Classes to Maximize Your Learning

McKissock

If you’ve been out of school for a while, or if you’re new to online learning, you might not know what to expect in your online real estate classes or how to get the most out of them. There are some tips and tricks that can help you stay organized and focused while taking your online real estate classes. We’ve put together a list of some of our favorites.

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National Association of Realtors Reports Pending Home Sales Increase in October

Appraisal Buzz

Pending home sales increased in October, rebounding after a decline the month prior, according to the National Association of Realtors (NAR). Contract activity rose month-over-month in each of the four major U.S. regions. On a year-over-year basis, however, transactions were split, as two regions reported drops and two others posted gains. The Pending Home Sales Index (PHSI), a forward-looking indicator of home sales based on contract signings, rose 7.5% to 125.2 in October.

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BiggerPockets Money Podcast 253: 7-Figure Net Worth on a Middle-Class Salary w/ Adam Zaleski

BiggerPockets

On the last day of a semester in college, Adam Zaleski’s geology professor dropped a bomb on his class: the professor was worth a staggering $10,000,000! The reason for telling […].

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Bidding Wars Trend Down, but remain High

Appraisal Buzz

While bidding wars reached a pandemic peak in April, 60.3% of all offers written by Redfin in October experienced a bidding war, down from the 60.4% in September. While the decrease in bidding wars is meager, Redfin expected this trend to continue from September due to the seasonal cooling of the market. But looking ahead, Redfin expects this number to plateau, if … The post Bidding Wars Trend Down, but remain High appeared first on DSNews.

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Candor Technology introduces loan scoring engine

Valuation Review

Candor Technology has introduced an additional dimension to its loan engineering system: The Candor Metascore. The patent pending Metascore indicates the overall quality of a loan manufactured by Candor’s machine.

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Are Bidding Wars Still a Thing?

Appraisal Buzz

While bidding wars reached a pandemic peak in April, 60.3% of all offers written by Redfin in October experienced a bidding war, down from the 60.4% in September. While the decrease in bidding wars is meager, Redfin expected this trend to continue from September due to the seasonal cooling of the market. But looking ahead, Redfin expects this number to plateau, if … The post Are Bidding Wars Still a Thing?

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Embrace Home Loans adds officers

Valuation Review

Embrace Home Loans announced that Barry Filderman, Masoud Hosseini and Bill Bray have joined its Rockville, Md., branch as senior loan officers. Branch Manager Elliott Bresler recruited the three mortgage veterans and plans to add more staff to continue building business in the eastern U.S. Embrace Home Loans originates loans in all 50 states.

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Tracking the Nation’s FSBO Sales

Appraisal Buzz

According to a new report, For Sale By Owner listings tend to be found in rural and lower-income areas, at prices 18% lower than properties represented by agents. The post Tracking the Nation’s FSBO Sales appeared first on theMReport.com. The post Tracking the Nation’s FSBO Sales appeared first on Appraisal Buzz.

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New Freddie Mac initiative helping with credit

Valuation Review

Freddie Mac announced a new initiative to help renters build credit by encouraging operators of multifamily properties to report on-time rental payments to the three major credit-reporting bureaus. Presently, less than 10 percent of renters see their on-time rental payment history reflected in their credit scores, inhibiting their ability to access credit or obtain competitive rates for a range of financial products.

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Home Prices Reach New High, Reports Redfin

Appraisal Buzz

Home prices hit a new all-time high of $359,975 in the four-week period ending November 21, according to a new report from Redfin. This was up 14% year over year, the largest increase since early September. Prices have risen in the past month nearly four times faster than they did at the same time last year. The unseasonable surge in home prices appears to be drawing in more sellers, as the number of homes.

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JLL Valuation Advisory expands in the Pacific Northwest

Valuation Review

JLL’s Valuation Advisory group recently announced it is expanding into the Seattle, Portland, Ore., and Pacific Northwest markets. The company has hired experienced professional Robert Taylor as market lead. Read on to learn more.

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How Lenders Can Engage Consumer Direct Customers at Scale With Marketing Automation 

Appraisal Buzz

BLOG VIEW: Today’s borrower expects the mortgage experience to be timely, customized, and digital. So much so that 63% of consumers feel an online mortgage process would be easier than an in-person process, according to ICE Mortgage Technology’s 2020 Borrower and Lender Insights Survey. To engage with this growing group of digital nomads, you’ll need to offer a personalized, consumer direct lending experience through the devices and communications channels of their preference.

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BBG announces promotion, appointment

Valuation Review

BBG recently promoted two senior executives in a reorganization of its leadership team. The company also appointed a chief technology officer. Read on for more information.

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AmeriSave Names Leif Boyd Chief Production Officer of Retail

Appraisal Buzz

New head of the company’s Retail Division brings two decades worth of experience to the role. The post AmeriSave Names Leif Boyd Chief Production Officer of Retail appeared first on theMReport.com. The post AmeriSave Names Leif Boyd Chief Production Officer of Retail appeared first on Appraisal Buzz.

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Rosalee DiScipio Qualifies for the 2021 President’s Club

Lamacchia Realty

Rosalee DiScipio has officially qualified for the 2021 President’s club by surpassing $16,000,000 in sales volume! This is the first year that Rosalee has qualified and we are so proud of her for the hard work she has put in to achieve such an impressive feat! With over a decade of real estate experience, Rosalee’s hard work and expertise are unmatched.

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FHFA Announces Deemed-Issuance Ratio for Next Year

Appraisal Buzz

Conforming to IRS guidelines, the FHFA has reported the deemed-issuance-ratio on underlying bonds for 2022. The post FHFA Announces Deemed-Issuance Ratio for Next Year appeared first on DSNews. The post FHFA Announces Deemed-Issuance Ratio for Next Year appeared first on Appraisal Buzz.

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The Infrastructure Deal’s Impact on Real Estate

BiggerPockets

The bipartisan infrastructure So, while the bill made it through a heavily divided Congress and is now law. But how much of an impact can we expect on real estate?

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Continued Low Inventory Forces Uptick in Sales

Appraisal Buzz

NAR reports that pending home sales rose in October, with buyers fearing a spike in rates took advantage of the limited supply available. The post Continued Low Inventory Forces Uptick in Sales appeared first on theMReport.com. The post Continued Low Inventory Forces Uptick in Sales appeared first on Appraisal Buzz.

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Is Canada's housing market about to heat up?

Mortgagebroker News

The possibility of a rush to take advantage of soon-to-end low rates has been debated in recent weeks

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MISMO Standardizes Bid-Wanted in Competition Exchange

Appraisal Buzz

MISM O , the real estate finance industry’s standards organization, is standardizing the bid-wanted in competition (BWIC) dataset format to facilitate accuracy, liquidity and rapid pricing for agency mortgage-backed securities (MBS) transactions. More lenders are choosing MBS execution than ever before and are distributing BWICs, a formal request for bids on a package of securities, to securities dealer desks.

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Impact of higher rates unclear to one-third of mortgage holders – study

Mortgagebroker News

A significant share of consumers are modifying their plans in response

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Should You Move Out Before You Sell?

San Jose Real Estate

A decade ago, it was the norm for Silicon Valley homeowners to occupy the home they were selling – today a majority of homes are being sold unoccupied or vacant. Why is that? And should you move out before you sell? A few years ago, around the mid- to late-2010s, we began to see an […].

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Market activity could surge before rate hikes, say analysts

Mortgagebroker News

Investor moves have grown by at least double since the start of the pandemic

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Staff Star – Aileen Buckley

Lamacchia Realty

Lamacchia Realty has some of the best REALTORS® in New England. They couldn’t be the best if they didn’t have strong support from our inside staff which is why we started the Staff Stars series. Our Staff Star interviews will highlight a new staff member that goes above and beyond for the company, the REALTORS®, and for our valued clients. This time around the award goes to Aileen Buckley.

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OSFI: Growing HELOC usage comes with considerable risk

Mortgagebroker News

The superintendent said the rise of non-traditional products could substantially impact lenders

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