Housing Wire

NOVEMBER 10, 2021

Mortgage rates fell below 3% in the week ending November 10, according to the latest Freddie Mac PMMS mortgage report. The 30-year fixed-rate mortgage declined to 2.98% last week, falling 11 basis points from 3.09% the week prior. A year ago at this time, the average 30-year fixed-rate loan averaged 2.84%. “Despite the re-acceleration of economic growth, the recent bond rally drove mortgage rates down for the second consecutive week,” Sam Khater, Freddie Mac’s chief economist, said in a statemen

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Mortgage Marketing 485

Appraisal Buzz

NOVEMBER 10, 2021

In today’s Buzzcast, we dive into the racial and ethnic gaps within the home purchase appraisal. Today we have Jim Morrison, VP of Marketing and Sales for Allterra Group, Scott Reuter, Chief Appraiser and Director of Valuation of Freddie Mac, and Vivian Li, Senior Manager of Quantitative Analytics of Freddie Mac. We’ll be getting the inside scoop while they discuss the studies and data surrounding this hot button issue.

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Valuation Appraisal Marketing 397

Housing Wire

NOVEMBER 10, 2021

The federal government’s top regulators announced Wednesday that they are collectively resuming mortgage servicing supervisory and enforcement practices in full, ending certain flexibilities it offered mortgage servicers at the onset of the Covid-19 pandemic. The announcement comes as servicers negotiate with over one million borrowers exiting forbearance plans.

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Mortgage Law Insurance Government 397

Appraisal Buzz

NOVEMBER 10, 2021

BLOG VIEW: Can a Mortgage Backed Security Chain (MBSChain) combined with MBS Crypto Currency (MBSCoin) transform the MBS market for better? Absolutely. MBSChain is the MBS version of blockchain while MBSCoin is MBS’s digital currency. The table below shows the current and the new MBSChain delivery profile for securities, loan servicing, and guarantors and their differing values.

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Housing Wire

NOVEMBER 10, 2021

Mortgage applications revved up for the week ending Nov. 5, rising 5.5%, according to the Mortgage Bankers Association weekly survey published on Wednesday. The increase was mainly driven by the refi index growing by 7% from the previous week, though it was 28% lower than the same week one year ago, the report said. Concurrently, the purchase index grew by 3% from the week prior.

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Mortgage Government Inventory Lending 397

Appraisal Buzz

NOVEMBER 10, 2021

New housing data shows 2021’s feverish home sales pace broke a yearly record in October, even as fall sales activity followed steadier seasonal patterns. With last month marking the eighth straight month of buyers snatching up homes more quickly than the fastest pace in previous years and fewer new sellers entering the market than last year, inventory took a slight step back from recent months’ improvements, according to the Realtor.com ’s newest Monthly Housing Report.

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Appraisal Buzz

NOVEMBER 10, 2021

ATTOM has released its October 2021 U.S. Foreclosure Market Report, showing there was a total of 20,587 U.S. properties with foreclosure filings – default notices, scheduled auctions or bank repossessions – up 5% from last month and 76% from a year ago, marking the sixth consecutive annual increase. “As expected, now that the moratorium has been over for three months, foreclosure activity continues to increase,” says Rick Sharga, executive vice president at RealtyTrac. “But.

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Housing Wire

NOVEMBER 10, 2021

Offerpad founder and CEO Brian Bair. When Zillow announced last week that it was shutting down its iBuying business and was desperate to offload $3.8 billion in unsold inventory , the grave dancers appeared almost instantly. Zillow’s failure was not simply a matter of an algorithm gone haywire; it was an indictment of the entire business model.

Logistics 366

Logistics Technology Business Real Estate 366

Appraisal Buzz

NOVEMBER 10, 2021

As Generation Z comes of age and moves into their prime homebuying years, 77% of Gen Zers still believe that homeownership is “at least somewhat attainable” even in light of a global pandemic, rising housing prices, and record low inventory. Gen Z, which includes persons born from the mid-90s to the early 2010s, remains optimistic about their future housing prospects with 87% of respondents … The post Where Does Gen Z Stand on Homeownership?

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Housing Wire

NOVEMBER 10, 2021

The more things change in iBuying, the more they stay the same. Opendoor again announced major revenue growth in the third quarter as the iBuyer hit the gas on cash purchases and subsequent resale of homes. Company revenue soared 91% from the second quarter to $2.3 billion, and Opendoor sold 5,988 homes, a 72% leap from the prior quarter. However, the San Francisco-headquartered outfit could not leverage a historically fantastic housing market to turn a profit, posting a $57 million net income l

Housing Market 353

Housing Market Market Value Insurance Lending 353

Appraisal Buzz

NOVEMBER 10, 2021

The former EVP of Mortgage Servicing for Rocket Mortgage will assume the leadership role upon retirement of current head Brian Hughes. The post Nicole Beattie Named CEO of Amrock appeared first on DSNews. The post Nicole Beattie Named CEO of Amrock appeared first on Appraisal Buzz.

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Appraisal Mortgage 195

George Dell

NOVEMBER 10, 2021

Everyone knows what’s a market — (or do they)? Market Value is the ultimate goal of appraisals, of AVMs, of evaluations, of BPOs, hybrids, exceptions, and all forms of opinions (everyone has one). So, market value must be based on “the market”! To measure it, we must first know what it is. The dictionary has […]. The post What is the Market in ‘Market Value’?

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Appraisal Buzz

NOVEMBER 10, 2021

ATTOM, along with its subsidiary RealtyTrac, has released its latest Foreclosure Market Report for October which has found that there was a total of 20,587 properties with foreclosure filings against them, up 5% from September and 76% from a year ago. This increase marks the sixth consecutive increase year-over-year. The news was not completely unexpected as the federal foreclosure moratorium has now been … The post Foreclosures Tick Up In October appeared first on DSNews.

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Appraisal Marketing 195

GoForrmz

NOVEMBER 10, 2021

Based in West Virginia, Lifeline Addiction Specialists help with addiction treatment and behavioral health needs. They offer an “office-based medication-assisted treatment program for adults with opioid dependence” as well as psychiatrists to assist with underlying causes of substance abuse issues. “ It’s a testament to the quality of the product that I don’t have to call GoFormz all the time.

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Appraisal Buzz

NOVEMBER 10, 2021

Black Knight Inc. has announced that Pulte Mortgage will implement its MSP loan servicing system and various additional solutions. Pulte Mortgage, a wholly owned financial services subsidiary of PulteGroup Inc., focuses solely on the financing of new construction homes for PulteGroup homebuyers. MSP is a comprehensive, end-to-end platform that supports all aspects of servicing – from loan boarding to default – for first mortgages, as well as home equity loans and lines of credit, The post Pulte

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Contracts Mortgage Construction Finance 195

GoForrmz

NOVEMBER 10, 2021

Use an online form builder to create digital forms that are easy to efficiently complete in the field, office, and beyond Designing a digital form with an online form builder can be an easy task when working with the correct software. Some online form creators require coding and advanced computer knowledge. Fortunately, with GoFormz, it’s easy to create paperless forms that are easy to use, reliable, and highly professional - with no code required.

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Business Design Construction Technology 147

Appraisal Buzz

NOVEMBER 10, 2021

Amrock , a part of Rocket Companies, has announced the upcoming retirement of Brian Hughes, the company’s CEO. Nicole Beattie, who currently serves as executive vice president of mortgage servicing for Amrock’s sister company, Rocket Mortgage, will assume the role of Amrock CEO as of November 19, 2021. “I would like to congratulate Brian on Amrock’s success,” says Beattie. “His leadership has solidified the company’s position at the top of the industry and pav

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Eyes on Housing

NOVEMBER 10, 2021

Compared to a year ago, on a not seasonally adjusted basis, consumer prices increased by 6.2% in October, the largest year-over-year gain since December 1990. Supply-chain constraints and strong consumer demand as the economy reopened have contributed to recent price increases. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) rose by 0.9% in October on.

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Supply Chain 147

Appraisal Buzz

NOVEMBER 10, 2021

Mortgage applications increased 5.5% from one week earlier, according to data from the Mortgage Bankers Association ‘s (MBA) Weekly Mortgage Applications Survey for the week ending November 5, 2021. . The Market Composite Index, a measure of mortgage loan application volume, increased 5.5% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 5% compared with the previous week.

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Mortgage Appraisal Marketing 195

Eyes on Housing

NOVEMBER 10, 2021

The latest results of the Federal Reserve’s Board’s Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS), lending standards and demand for residential real estate (RRE) loans both eased slightly in the third quarter of 2021. Additionally, banks reported easier lending standards for all categories of commercial real estate financing (CRE loans), and, within CRE, stronger demand for multifamily.

Real Estate 111

Real Estate Loan Officers Lending Finance 111

Appraisal Buzz

NOVEMBER 10, 2021

Proptech firm adds new Heads of Customer Experience and Service Delivery to drive its customer service initiatives. The post Spruce Bolsters Its Customer Service Team appeared first on theMReport.com. The post Spruce Bolsters Its Customer Service Team appeared first on Appraisal Buzz.

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Appraisal 195

Valuation Review

NOVEMBER 10, 2021

Clear Capital recently announced it has signed a Memorandum of Understanding (MOU) with the National Society of Real Estate Appraisers (NSREA), a non-profit appraiser membership association, to partner on ways to accelerate diversity in the appraisal profession. As part of the MOU, Clear Capital and NSREA agree to work together in many areas of this partnership.

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Appraisal Real Estate 78

Appraisal Buzz

NOVEMBER 10, 2021

Fannie Mae has announced the results of its twenty-third reperforming loan sale transaction. The deal includes the sale of approximately 18,500 loans totaling $2.9 billion in unpaid principal balance (UPB), divided into five pools. The winning bidders of the five pools for the transaction were Pacific Investment Management Company LLC (PIMCO) for Pools 1 and 2, JP Morgan Mortgage Acquisition Corp.

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Investing Appraisal Mortgage 195

Valuation Review

NOVEMBER 10, 2021

JLL Valuation Advisory hired Dennis Firestone to join its rapidly expanding new Environmental and Property Condition (EPC) team. Firestone will serve as a senior vice president for EPC Premier Client Accounts. Read on to learn more.

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Valuation Finance Clients 78

Appraisal Buzz

NOVEMBER 10, 2021

National Mortgage Insurance Corp. (National MI), the primary operating subsidiary of NMI Holdings Inc., is now integrated with OpenClose , a fintech provider offering mortgage lenders a browser-based, comprehensive loan origination software (LOS) suite. “National MI’s integration with OpenClose provides lenders with a true end-to-end, multi-channel LOS and application programming interface (API) suite, enabling an efficient mortgage insurance quoting and ordering process,” says Norm Fitzgerald,

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BiggerPockets

NOVEMBER 10, 2021

Having limited lung capacity while playing college basketball seems almost impossible. But, like almost everything else in Nolan Gottlieb’s life, he pushed through it to accomplish his dreams. Hard work […].

Investors 77

Investors Marketing Real Estate 77

Appraisal Buzz

NOVEMBER 10, 2021

The CFPB, along with other federal regulators, to scrutinize mortgage servicers to safeguard at-risk homeowners in the wake of pandemic protections. The post Stepping Up Efforts to Avoid a Wave of Foreclosure appeared first on theMReport.com. The post Stepping Up Efforts to Avoid a Wave of Foreclosure appeared first on Appraisal Buzz.

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Appraisal Mortgage 150

Valuation Review

NOVEMBER 10, 2021

Cherry Creek Mortgage, a nationwide, full-service mortgage lender, today recently announced a promotion. Susan Vick has been moved up to vice president of marketing, after serving as marketing director since joining the company in February 2020.

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Mortgage Marketing 60

Appraisal Buzz

NOVEMBER 10, 2021

Ed Mullen, CEO of Cyprexx Services LLC details his firm’s newest acquisition, and what it means for the industry. The post The Exchange: Breaking Down the Cyprexx-Xome Field Services Deal appeared first on DSNews. The post The Exchange: Breaking Down the Cyprexx-Xome Field Services Deal appeared first on Appraisal Buzz.

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Appraisal 150

Valuation Review

NOVEMBER 10, 2021

Global DMS, the leading provider of cloud-based real estate appraisal management software, announced its next-generation EVO platform is now voice-enabled, providing lenders access to key functionality and up to the minute information of their entire pipeline with Amazon’s Alexa voice control. This makes the EVO platform the first and only appraisal management software to provide this capability in the mortgage industry.

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Appraisal Real Estate Mortgage 60

Appraisal Buzz

NOVEMBER 10, 2021

As Generation Z comes of age and moves into their prime homebuying years, 77% of Gen Zers still believe that homeownership is “at least somewhat attainable” even in light of a global pandemic, rising housing prices, and record low inventory. Gen Z, which includes persons born from the mid-90s to the early 2010s, remains optimistic about their future housing prospects with 87% of respondents … The post Generation Z Remains Optimistic on Home Ownership appeared first on DSNews.

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Inventory Appraisal 150

Valuation Review

NOVEMBER 10, 2021

CoreLogic recently announced the completion of its acquisition of all outstanding shares of ClosingCorp. The acquisition expands the suite of digital solutions to enhance the homebuying experience for millions of homebuyers and sellers. Read on for more details.

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Sellers 78

Appraisal Buzz

NOVEMBER 10, 2021

On the heels of the Fed’s tapering announcement, mortgage apps climbed 5.5% over the previous week, led by a 7% uptick in refis. The post Refi Activity Drives Rise in Mortgage App Volume appeared first on theMReport.com. The post Refi Activity Drives Rise in Mortgage App Volume appeared first on Appraisal Buzz.

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Mortgage Appraisal 195

Mashvisor

NOVEMBER 10, 2021

BiggerPockets Pro Exclusive Benefit Find Top-Performing Investment Properties Quickly and Easily start your 3-month free trial Get 3 months free on industry-leading real estate data and analytics Mashvisor is a…

Investing 69

Investing Real Estate 69