Housing Wire

JULY 8, 2022

What does it mean to get a positive job report with all the talk about a recession, which ramped up starting in January 2022? Let’s look at the U.S. jobs and economic numbers as five of my six recession red flags are up today. The June data shows that we added another 372,000 jobs as we get closer to the employment numbers before COVID-19. We did have 74,000 negative revisions to the previous reports, however, the internals of this jobs report is the most interesting aspect.

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Appraisal Buzz

JULY 8, 2022

The post Aggression Analysis appeared first on Appraisal Buzz.

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Housing Wire

JULY 8, 2022

Just two days after it abruptly shut down its operations, non-QM lender Sprout Mortgage became the target of a class-action-seeking lawsuit. Two former employees are suing the Long Island-based Sprout, its affiliated company Recovco Mortgage Management LLC and chief executive officer Michael Strauss, alleging they laid off around 100 employees at the New York office on Wednesday without giving legally required written notice and failed to pay their paychecks due the following day.

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Appraisal Buzz

JULY 8, 2022

PERSON OF THE WEEK: Industry observers will tell you that mortgage lenders typically turn away from an existing Loan Origination System (LOS) in favor of a new one every 5 years or so. The traditional process of selecting this software has been long, expensive, tedious and likely to drive lenders back to the same old software. There must be a better way.

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Housing Wire

JULY 8, 2022

The Federal Housing Administration (FHA) is making it easier for homebuyers financially affected by COVID-19 to qualify for a loan. The administration told lenders Thursday it will grant underwriting flexibility in cases in which a borrower experienced a gap in employment or a reduction of income as a result of the pandemic — but has since financially recovered.

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Appraisal Buzz

JULY 8, 2022

The U.S. economy added about 372,000 jobs in June, above expactations, however, the unemployment rate remained unchanged compared with May at 3.6%, according to the U.S. Bureau of Labor Statistics. Notable job gains occurred in professional and business services, leisure and hospitality and health care. The number of unemployed persons was essentially unchanged at 5.9 million.

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Appraisal Buzz

JULY 8, 2022

The 447 commercial chapter 11 filings in June represented a 29 percent increase from the 347 filings in June 2021, according to new data provided by Epiq Bankruptcy. Overall commercial filings decreased 7% in June 2022, as the 1,864 filings were down from the 1,999 commercial filings registered in June 2021. Small business filings, captured … The post Commercial Chapter 11 Filings Increase Nearly 30% in June appeared first on DSNews.

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Housing Wire

JULY 8, 2022

Job growth in the U.S. had another strong month in June and the overall unemployment rate held steady, defying rising interest rates and fears of an impending recession. The construction sector, meanwhile, had only a slight gain, according to the U.S. jobs report , released Friday. The report showed a total of 372,000 nonfarm payroll jobs were added in June, compared to 384,000 in May.

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Appraisal Buzz

JULY 8, 2022

The COVID-19 pandemic did not just cause a global health crisis; not only did it throw the economy in a tizzy but it made certain markets behave in ways people have not seen before and could not anticipate. But housing, one of the pillars of the American Economy, saw cost burdens worsen during the first … The post On the Pandemic and Affordability appeared first on DSNews.

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Eyes on Housing

JULY 8, 2022

Despite interest rate hikes, job growth remained solid in June. Total nonfarm payroll employment increased by 372,000 and the unemployment rate remained at 3.6% in June. Construction industry employment (both residential and non-residential) totaled 7.7 million and has exceeded its February 2020 level. In June, residential construction lost 4,100 jobs, and non-residential construction added 16,500 jobs.

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Appraisal Buzz

JULY 8, 2022

Texas-based Velocity Credit Union has selected Black Knight Inc. ’s Black Knight Empower LOS and integrated origination solutions to support its members and employees with advanced automation and digital capabilities. “At Velocity, we’re dedicated to meeting the needs of our members for years to come, and our selection of Black Knight’s integrated technology, data and analytics is central to this mission,” says Lindsey Record, vice president of mortgage lending at Velocit

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Housing Wire

JULY 8, 2022

This week’s HW+ member spotlight features Rogers Healy, Owner and CEO, at Rogers Healy and Associates. Below, Healy answers questions about the housing industry: HousingWire: What is your current favorite HW+ article and why? Rogers Healy: This is my favorite article because it accurately outlines how the housing market is not the only factor in a recession.

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Appraisal Buzz

JULY 8, 2022

After months of tipping heavily in sellers’ favor, the scales of the housing market are finally balancing out, according to a new report from Redfin. Soaring housing costs caused many house hunters to drop out in recent months, which is now providing some relief for buyers who remain. Current buyers are seeing the housing shortage ease, price growth slow, competition decline and mortgage rates drop from their 2022 high.

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Mashvisor

JULY 8, 2022

As a real estate investor, you may occasionally bump into the term “under contract.” But what does the term mean in real estate investing?

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Appraisal Buzz

JULY 8, 2022

Since entering conservatorship in 2008, Fannie Mae and Freddie Mac to date have assisted nearly 6.5 million homeowners with foreclosure prevention actions. Here’s what the GSEs’ latest data reveals. The post FHFA Provides Foreclosure, Refi, REO Updates appeared first on DSNews. The post FHFA Provides Foreclosure, Refi, REO Updates appeared first on Appraisal Buzz.

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Appraisal Today

JULY 8, 2022

V.A. as a Model for Appraisals. by Isaac Peck. Excerpts: Step Above the Rest. It’s not a secret that being on the V.A. appraiser roster is a coveted position for most residential appraisers. So, what exactly makes the V.A. so special? Rocha (V.A. appraiser) says the V.A. is a step above the rest primarily because of the following criteria. V.A. wants a good quality panel.

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Appraisal Buzz

JULY 8, 2022

Since entering conservatorship in 2008, Fannie Mae and Freddie Mac to date have assisted nearly 6.5 million homeowners with foreclosure prevention actions. The post Q1 REO Inventory Increases 3% appeared first on DSNews. The post Q1 REO Inventory Increases 3% appeared first on Appraisal Buzz.

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BiggerPockets

JULY 8, 2022

This week’s question comes from Mantas on the Real Estate Rookie Facebook Group. Mantas is asking: My buddy placed an offer substantially above asking price and the seller, before accepting […].

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Appraisal Buzz

JULY 8, 2022

According to a new report from Redfin, after months of tipping heavily in sellers’ favor, the scales of the housing market are finally balancing out. Soaring housing costs caused many house hunters to drop out in recent months, which is now providing some relief for buyers who remain. Today’s buyers are seeing the housing shortage … The post Rates Cool, Balance Returning to Housing Market appeared first on DSNews.

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Mashvisor

JULY 8, 2022

The United States has seen some of its hottest-ever real estate markets in the last several decades.

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Buys Brokers Only LLC

JULY 8, 2022

Average U.S. mortgage interest rates have fallen over the past two weeks, but demand for purchase mortgage applications is down from a year ago, and affordability is an issue for homebuyers, three mortgage industry organizations reported recently.

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Mortgagebroker News

JULY 8, 2022

However, the market's sales activity levels are trending towards the opposite direction

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Eppraisal

JULY 8, 2022

Title companies play a significant role in real estate transactions. In fact, they play quite a few roles. With home values rising and buyers paying high prices for homes, title companies' roles are more important than ever. Buyers paying these high prices for homes deserve protection. The Title Company's Role First and foremost, it's the title company's role to perform a complete title search and be sure the seller conveys clear title to the buyer in a real estate transactio

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Mortgagebroker News

JULY 8, 2022

The banking regulator "chose not to be more aggressive" on reform, says mortgage veteran

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Mortgage 61

Will Springer Realtor

JULY 8, 2022

Classical Music, July 16-30 Music Under the Stars begins with a live student concert followed by a filmed performance of the Seattle Chamber Music Society. Shows take place on Thursdays and Saturdays, 8 or 8:30pm, at various city parks. Bring food, drink, blanket and friends … then enjoy a classic outdoor event. Summer Concerts in Woodinville, July 20, 27 and Aug. 3 Woodinville lets its hair down with an evening of high-energy music, food, wine, beer and cider.

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Mortgagebroker News

JULY 8, 2022

Central bank to target inflation "come hell or high water," says economist

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Marketing 64

Will Springer Realtor

JULY 8, 2022

The screeching you heard in June was the sound of brakes being applied to the housing market across the U.S. Except for crypto , the rising cost of nearly everything – gas, groceries and going to see grandma – has forced many of us to recalibrate our finances. Our shrinking wallets have people delaying bigger purchases or at least looking for bargains when possible – including homes.

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Mortgagebroker News

JULY 8, 2022

A "soft landing" has become significantly more challenging for North American economies, RBC says

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GoForrmz

JULY 8, 2022

Healthcare advances mean an increased need for HIPAA compliance in technology Technology has brought amazing benefits to our lives, but it’s also brought new challenges. In the healthcare industry, technology has improved patient communications, enhanced testing processes, and streamlined record-keeping for better patient care. But technology in the healthcare industry can also be a burden, especially regarding HIPAA compliance.

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Technology Modernization Law Insurance 15

Mortgagebroker News

JULY 8, 2022

The city government is looking at ways to further boost the region's liveability

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Government 54

Housing Wire

JULY 8, 2022

Recently, the Federal Housing Finance Agency (FHFA) announced that mortgage lenders will be required to include in loan packets the Supplemental Consumer Information Form (SCIF), which registers a borrower’s language preference, in order for those loans to be eligible for sale to Freddie Mac or Fannie Mae. While the requirement may seem fairly innocuous, it’s likely the first of several new requirements lenders will need to consider when working with borrowers of Limited English Proficienc

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Mortgagebroker News

JULY 8, 2022

RBC delivers its verdict

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Housing Wire

JULY 8, 2022

Institutional players in the single-family rental (SFR) market have been expanding their reach into select American neighborhoods since the global financial crisis of 2008, but they now find themselves in an uncomfortable limelight. . They are under scrutiny in Congress and accused of gentrifying minority neighborhoods and allegedly displacing large numbers of people of color — Black residents in particular.

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