Housing Wire
JULY 27, 2022
The Federal Reserve hiked rates 0.75% on Wednesday, which was mostly expected by market participants before the announcement. The question is, will the Fed keep aggressively hiking rates if the economic data worsens? I say this because I’ve raised all but one of my six recession red flags. I need to wait for one more report to officially raise the last flag, but it is certain to happen in August.
Appraisal Buzz
JULY 27, 2022
The U.S. House of Representatives today passed the Secure Notarization Act (H.R.3962) , which would authorize the use of remote online notarization (RON) and create national standards and protections for its use. Industry groups including the Mortgage Bankers Association (MBA) had pressed for national baseline standards for RON, as previously a patchwork of state laws on its use created challenges for lenders, thus slowing adoption.
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Housing Wire
JULY 27, 2022
The Department of Justice and the Consumer Financial Protection Bureau are taking the fight to non-bank mortgage lenders for redlining. The two agencies revealed their new strategy to rein in mortgage discrimination on Wednesday, with a $24.4 million consent order, stemming from a referral the CFPB made in November 2020. It’s the DOJ’s second- largest mortgage redlining settlement ever, and its first against a non-bank mortgage lender.
Appraisal Buzz
JULY 27, 2022
New home sales plunged in June as higher mortgage rates and lack of affordability dampened buyer demand. In addition, production slowed on lower builder confidence. New home sales were at a seasonally adjusted annual rate of 590,000, a decrease of 8.1% compared with May and down 17.4% compared with June 2021, according to estimates from the U.S. Census Bureau and the U.S.
Housing Wire
JULY 27, 2022
“Turn to automation when profit margins are tight.” It’s a message the industry is hearing loud and clear as rates stay high and lenders can no longer depend on a steady flow of refis. In light of this, HousingWire CEO Clayton Collins recently sat down with Paul Doman, CEO at Accurate Group, to discuss mortgage lender profitability, as well as the modernization of title and appraisal processes and where there is opportunity for automation. .
Appraisal Buzz
JULY 27, 2022
Popular migration destinations where home prices soared during the pandemic are most likely to see the effects of a housing downturn amplified and home prices decline year over year if the economy goes into a recession. This is according to a new report from Redfin , which also found that relatively affordable northern metros are most resilient in the event of a recession.
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Appraisal Buzz
JULY 27, 2022
Settlement with mortgage lender for $22 million-plus marks the first redlining settlement that the CFPB and DOJ has reached with a non-bank entity. The post CFPB and DOJ Reach Agreement With Trident Mortgage Over ECOA Violations appeared first on DSNews. The post CFPB and DOJ Reach Agreement With Trident Mortgage Over ECOA Violations appeared first on Appraisal Buzz.
Housing Wire
JULY 27, 2022
Angel Oak Cos., through its Angel Oak Mortgage Trust conduit, recently unveiled its latest private-label securitization (PLS) offering — a deal slated to close in early August backed by 788 predominately non-QM loans valued at $362 million. Counting this latest offering, Angel Oak Cos. — through its affiliated companies, including real estate investment trust, or REIT, Angel Oak Mortgage Inc.
Appraisal Buzz
JULY 27, 2022
According to the National Association of Realtors, pending home sales decreased in June, following a slight increase in May. All four major regions posted month-over-month and year-over-year pullbacks, the largest of which occurred in the West. The Pending Home Sales Index (PHSI), a forward-looking indicator of home sales based on contract signings, dipped 8.6% to 91.0 … The post Pending Home Sales Retreated in All Four Major Regions appeared first on DSNews.
Housing Wire
JULY 27, 2022
The emerging real estate brokerage model is starting to include more and more services in order to stay competitive. But is this what disruption looks like in the real estate space? Or, have brokerages started to focus in on partnering when it comes to innovative decisions? Tapping into his experience and knowledge as the president of Keller Williams , Marc King will share his insights on these questions during the “From Disruption to Partnership: the Amazon of real estate ” panel at
Appraisal Buzz
JULY 27, 2022
On March 14-15, 2020, the Federal Reserve’s Federal Open Market Committee (FOMC) held an emergency meeting in light of the then-blossoming pandemic to cut rates by a 100 basis points to a rate of 0-0.25%. But now, in light of last weeks Consumer Price Index report which found inflation increased to 9.1% in June 2022, the … The post Fed Increases Interest Rate by 75 Basis Points appeared first on DSNews.
Housing Wire
JULY 27, 2022
What a difference a year makes. In mid-2021, most mortgage companies enjoyed strong origination volume and were hiring additional staff in response. But as we begin the third quarter of 2022, the landscape has changed drastically and multiple challenges face the industry. Rates are now reaching almost 6% for a 30-year fixed mortgage , while the Federal Reserve has enacted substantial interest rate hikes and further increases are likely on the horizon.
Appraisal Buzz
JULY 27, 2022
Mortgage Bankers Association ’s (MBA) Weekly Mortgage Applications Survey shows a decrease of 1.8% in mortgage applications on the Market Composite Index on a seasonally adjusted basis from one week earlier, according to data for the week ending July 22, 2022. On an unadjusted basis, the Index decreased 2% compared with the previous week. The Refinance Index decreased 4% from the previous week and was 83% lower than the same week one year ago.
Housing Wire
JULY 27, 2022
After making some major pivots over the last few years, the housing industry is once again in a new cycle. So what does a purchase-driven market mean for marketing professionals, especially in a world where marketers are helping make many strategic decisions in a company? From launching rebrands to finding ways to fuel the sales pipeline, we’re excited to answer your top marketing questions on “The Future of Marketing” panel at the Marketing Leaders Success Summit.
George Dell
JULY 27, 2022
Market-specific price indexing is powerful and underused! It improves accuracy and precision of appraisals. It enables an objective market analysis. It forms a natural path from traditional, judgment-based appraisal to informative, evidence-based professional analyses. Best of all, it enables a sense of pride in appraisal work, while making it more fun!
Housing Wire
JULY 27, 2022
New York-based title underwriter AmTrust has come under fire from New York Attorney General Letitia James for business practices that “hurt workers and limited their earning potential.”. An investigation by James’s office found that for years AmTrust entered into illegal no-poach agreements with their competitors, thwarting labor competition. AmTrust Title, which is controlled by insurance giant Amtrust Financial Services Inc., issues title policies through First Nationwide or independent
Appraisal Buzz
JULY 27, 2022
Today’s Buzzcast interview is with Blaine Feyen, Chief Evangelist at True Footage. We sat down with Blaine and Joan Trice, Founder of Allterra Group, LLC, to discuss the panel he will be hosting, “ Recession Proofing Your Appraisal Business ” at Valuation Expo on September 7 th at 10 am. Anyone with a Trade Show Pass or higher has access to this course!
Housing Wire
JULY 27, 2022
Two House Appropriations bills recently advanced by House negotiators have included language surrounding Business Email Compromise (BEC) in an effort to promote collaboration between federal and law enforcement agencies and private sector partners in monitoring and reporting for cyber-based crime events. The House Appropriations bill covering the departments of Commerce, Justice, Science and Related Agencies includes a section on BEC, noting that “the FBI has assessed that ‘BEC is one of the fas
Appraisal Buzz
JULY 27, 2022
Today’s Buzzcast interview is with Blaine Feyen, Chief Evangelist at True Footage. We sat down with Blaine and Joan Trice, Founder of Allterra Group, LLC, to discuss the panel he will be hosting, “ Recession Proofing Your Appraisal Business ” at Valuation Expo on September 7 th at 10 am. Anyone with a Trade Show Pass or higher has access to this course!
Eyes on Housing
JULY 27, 2022
NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that the four-quarter moving average (MA) share of new home sales financed through FHA was 11.0% in Q2 2022–its smallest share since early 2008. Conventional loans financed 74.8% of new home sales in the second quarter of 2022—a 1.8 percentage point quarter-over-quarter decline.
Appraisal Buzz
JULY 27, 2022
National Association of Realtors (NAR) reports pending home sales decreased in June, following a slight increase in May. All four major regions posted month-over-month and year-over-year pullbacks, the largest of which occurred in the West. The Pending Home Sales Index (PHSI) dipped 8.6% to 91.0 in June. Year-over-year, transactions shrank 20%. An index of 100 is equal to the level of contract activity in 2001. “Contract signings to buy a home will keep tumbling.
Appraiserblogs
JULY 27, 2022
From the organization that brought you the bat-s**t crazy letter and the chickenshit letter, they are charging for classes that are misleading. ASC just sent a letter to state appraiser regulatory officials pointing out that the USPAP update course is factually inaccurate and puts appraisers in legal jeopardy if they follow it. Letter From Jim Park, Director ASC to State Appraiser Regulatory Officials: 2022-2023 7-Hour National USPAP Update Course The letter references findings and recommendatio
Eyes on Housing
JULY 27, 2022
Continuing its tightening of financial conditions to bring the rate of inflation lower, the Federal Reserve’s monetary policy committee raised the federal funds target rate by 75 basis points, increasing that target to an upper bound of 2.5%. This move matches the June rate hike as the largest increase for the funds rate since 1994. While committing to a policy.
GoForrmz
JULY 27, 2022
Discover how digital forms can help your nutrition business work smarter. Whether it’s diet plans, nutritional documentation, or client records, nutritionists are constantly updating patient data with updated information. Accurate and up-to-date client information is crucial for nutrition teams, making real-time access to data arguably the most important aspect of a digital documentation solution for dietician’s.
Birmingham Appraisal
JULY 27, 2022
Do Buyers Have a Leg Up In Today’s Market? The smell of a market shift is in the air but what does this mean for the average buyer? Over the past two years, buyers have been put through the wringer. The steep rise in home prices, and the market’s competitive nature, have tested the resolve of buyers. If they didn’t lose out on a contract for the home of their dreams they had to bid the price up way over the list price to even get the attention of sellers who have had an edge in
Mashvisor
JULY 27, 2022
The Austin Texas real estate market is showing some signs of a slowdown. Home sales are down, but property prices are still on an upward trend.
Houston Properties
JULY 27, 2022
Learn about the five rules for selling your Houston home in the fall. A Houston real estate guide by top-ranked Houston realtor Paige Martin.
Valcre
JULY 27, 2022
To become a qualified commercial real estate appraiser, a person must invest serious time, effort, and money. There are specific training programs for commercial real estate appraisals that include a cumulative hourly in-the-field requirement to demonstrate competence. Before obtaining certification, they must have a bachelors degree and pass a final examination.
Mashvisor
JULY 27, 2022
To be successful, it is important to learn how to find cheap investment properties. Follow this guide to make the process easier for you.
BiggerPockets
JULY 27, 2022
Recently, I wrote an article stating that the housing market has begun transitioning from an extreme seller’s market to a much more balanced one—at least on a national level. While I do […].
Mortgagebroker News
JULY 27, 2022
The product reflects the company's ongoing commitment to provide new solutions for brokers and their clients, says SVP
BiggerPockets
JULY 27, 2022
Property management can be one of the more complex decisions when it comes to investing. Do you save money and ensure the job is done exactly how you want it […].
Mortgagebroker News
JULY 27, 2022
Accelerated demand seen at the onset of the pandemic is expected to last
San Jose Real Estate
JULY 27, 2022
Home sellers know that certain fixes will give a good return on investment when selling. The risk, though, is in over improving your property. Reasonable home sale prep will not over improve the home, but will include: decluttering so that the home, garage, and yard all appear to offer enough comfortable space deep cleaning, including […].
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