Wed.May 05, 2021

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Rocket Mortgage prepares for a slowdown

Housing Wire

Rocket Mortgage originated more than $100 billion in mortgages for yet another quarter, but profit margins are trending down. And the country’s largest mortgage lender expects a good-sized slowdown in the second quarter of 2021. All told, the Detroit lending powerhouse originated $103.6 billion in closed loans in the first quarter of 2020, more than double its originations in Q1 2020.

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How much are buyers paying above the asking price?

Sacramento Appraisal Blog

“Buyers are crazy!!! How can they be paying these prices?” That’s what we tend to hear from people who are NOT trying to buy a house right now. It seems like onlookers really don’t understand what it takes to get an offer accepted these days. But for anyone actually in the game, the truth is […].

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As rates rise, mortgage applications dip

Housing Wire

Mortgage applications dropped again , falling 0.9% from the previous week, according to the latest report from the Mortgage Bankers Association for the week ending April 30, 2021. MBA’s Associate Vice President of Economic and Industry Forecasting Joel Kan called last week’s mortgage activity “a mixed bag,” between rates , loan sizes, and government purchase applications. “Mortgage rates were slightly higher, refinance applications were essentially unchanged, and purchase

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5 Fields and Features to Add to Your Digital Lien Waivers

GoForrmz

Accelerate lien waiver distribution and processing with GoFormz The lien waiver process is a common burden for construction teams. For subcontractors, lien waivers need to be completed, reviewed, and signed each and every month on a project. General contractors, meanwhile, are responsible for distributing, tracking, and processing lien waivers, to ensure their operation is protected from a lien and that the subcontractor can receive their payment.

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Brian Covey to speak at Engage Marketing June 17

Housing Wire

A good brand isn’t just for companies. Mortgage professionals have their own stories to tell, their own goals to reach and their own set of skills to share. In today’s online environment, personal branding is a growing expectation to grow community. That’s why we’ve invited vice president of regional production at loanDepot Brian Covey to speak on a panel titled Building a Personal Brand at HousingWire’s virtual Engage Marketing event on June 17.

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Latest Senior Loan Officer Opinion Survey Indicates Easing Credit Standards

Eyes on Housing

The latest results from the Federal Reserve Board’s Senior Loan Officer Opinion Survey (SLOOS) present standards on bank lending practices as they occurred in the first quarter of 2021. The three major categories of lending covered by the survey are Commercial and Industrial (C&I) loans, Commercial Real Estate (CRE) loans, and Residential Real Estate (RRE) loans.

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How the Best Landlords Manage Their Online Reputation

BiggerPockets

If you want to be a successful landlord, your reputation is your greatest asset. Landlords with an excellent reputation attract better tenants and have fewer vacancies. Don't leave your online reputation to chance.

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Genworth to IPO after China Oceanwide deal flops

Housing Wire

Genworth Holdings announced an initial public offering for its mortgage insurance arm, Genworth Mortgage Holdings, after a long-delayed $2.7 billion deal with China Oceanwide Holdings Group ran aground. Genworth Mortgage Holdings also announced it will rebrand to Enact Holdings. The IPO will provide the company with a much-needed bailout, as it stares down $1 billion in debt coming due this year.

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How to Succeed in New Construction With a Stellar Pro Forma

BiggerPockets

Development is a high-risk venture—and pro formas are essential to getting the process started and mitigating risk. If you’re stuck on getting your pro forma off the ground, give one of these strategies a try.

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DataTrace integrates with title software SoftPro

Housing Wire

Title automation company DataTrace has announced an integration with SoftPro , a real estate closing and title software company, which will allow SoftPro users to access over 560 title plants, nationwide tax and recorded property data, and more than 7 billion document images. Through the integration, SoftPro users can now automatically access DataTrace’s comprehensive products and services—including fully managed Title Product Services and tax information.

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BiggerPockets Podcast 466: Buying “Lottery Ticket” Investment Properties with Alan Corey

BiggerPockets

Alan Corey has had an interesting career to say the least. He’s been an IT worker, a comedian, an author, a real estate investor, and even a reality TV star. […].

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Willow Glen real estate market in San Jose

San Jose Real Estate

Willow Glen is perhaps the most charming residential area of the city of San Jose with its old style architecture, tree lined streets and quaint downtown area on Lincoln Avenue and nearby. For folks working in downtown San Jose, the Willow Glen area (roughly the same as 95125 zip code, though a bit of 95124 is included also) is extremely convenient.

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What Are NFTs and Why Should Real Estate Investors Care?

BiggerPockets

NFTs are one of the strangest—and most interesting—blockchain developments. Here, we break down the details and explain what investors should know.

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How to Find Profitable Investment Properties for Sale in 4 Steps

Mashvisor

Buying rental property has been a popular real estate investment strategy for many years.

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6 Backyard Trends You’ll Dig in 2021

REX Real Estate

Over the past year, your backyard has probably been one of the few places…

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Los Gatos Real Estate Market Trends and Statistics

San Jose Real Estate

The Los Gatos real estate market is varied from one price point or school district to the next, but over all, this is a fairly stable period and properties continue to sell at an average of over 100% of the list price. Here are the current numbers, per my Los Gatos real estate report (click on the link for full information). The Los Gatos Mountains are a distinctly different market and as such are covered in a separate market update, updated less frequently than here, which shows live Altos char

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Service Level Coordinator – Atlanta, GA

Dart Appraisal

Service Level Coordinator (SLC) Atlanta, GA. Dart Appraisal is looking to grow our Service Level Coordinator (SLC) team! Our ideal candidate will have previous experience in customer service or data entry type roles, have excellent written and oral communication skills, and is excited about working in a fast-paced environment. A typical day for an SLC team member is spent assigning orders according to client and file requirements, communicating with appraisers, clients, and team members regardin

Clients 28
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Fannie and Freddie set dates for their new refi option

Housing Wire

The Federal Housing Finance Agency didn’t have a set date for its new refi option targeted to low-income borrowers when it announced the program last week. But on Wednesday, both Fannie Mae and Freddie Mac announced release dates for their versions of the refi product. Fannie Mae’s RefiNow option will be available June 5, while Freddie Mac’s Refi Possible will be available two months later in August.

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Vendor Coordinator

Dart Appraisal

Vendor Coordinator Dart Appraisal is looking for a Vendor Coordinator to assist with the maintenance and growth of our residential and commercial appraiser panels. This candidate will act as a primary liaison with new and current appraisers through phone and email and will need strong communication and organizational skills. Essential Duties and Responsibilities: Process appraiser signups which will include document collection, review, and data entry.

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Kavison Homes partners with New American Funding

Housing Wire

Las Vegas-based builder Kavison Homes has struck up a joint-venture with mortgage lender New American Funding on a new luxury community in Downtown Las Vegas, The Pines in John South Park. The Pines is the brainchild of Kavison Homes owner Todd Stratton, who said homes in the first phase of the community will cost an average of $605,000. “Kavison Homes is excited about this unique opportunity to be the first new construction in the John S Park area in 35-plus years,” said Stratton.

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Market Price or Market Value Or?

George Dell

Market value for home loans in the United States is precisely defined. The understanding of “market value” is the single most important concept defining what appraisers do. Buyer/seller are prudent, knowledgeable, well informed or advised, and ‘typically’ motivated; there is no ‘undue’ stimulus; and the sale is in cash terms, with normal exposure, and “unaffected […].

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Patience is Key in This Housing Market

Berkshire Hathaway

The trend this year seems to be among buyers “why is it so hard to find a house” Well one of the answers is we are in the ultimate sellers’ market, which means the market it very competitive for buyers right now. Though buyer shouldn’t be alarmed. Low inventory in the housing market isn’t new, but it is becoming a lot harder to navigate. Danielle Hale, Chief Economist at realtor.com , explains: “ The housing market is still relatively under supplied , and buyers can’t buy what’s not for sale.

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Federal judge overturns CDC eviction ban

Housing Wire

A federal judge has overturned the Centers for Disease Control eviction moratorium , ruling that the agency does not have the legal authority to impose a nationwide eviction moratorium. The reversal may be short lived. Even if it stands, it may not grant much relief to landlords already subject to state and local eviction bans. Unlike previous rulings, which found the September order unconstitutional without knocking it down, U.S.

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