Housing Wire

OCTOBER 8, 2021

Skyrocketing U.S. home prices are quickly shifting the affordability calculus for prospective homebuyers in 2021 — even though mortgage rates have remained near record lows. The median home price nationwide in August increased 14.9% from a year ago to $356,700, according to the National Association of Realtors. August marked the sixth consecutive month where median home prices increased by double-digit percentages from a year ago.

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Appraisal Buzz

OCTOBER 8, 2021

The U.S. economy added roughly 194,000 jobs in September, beating expectations and driving the unemployment rate down to 4.8%, according to the the U.S. Bureau of Labor Statistics. Sectors that saw the greatest job gains in September included leisure and hospitality, professional/business services, retail, and transportation/warehousing. The construction sector, however, only added 22,000 jobs in September and has shown little net change thus far this year, the BLS notes.

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Housing Wire

OCTOBER 8, 2021

Total non-farm employment added a disappointing 194,000 jobs in the month of September, bringing the unemployment rate down to 4.8%, according to the U.S. jobs report released on Friday. This is the ninth consecutive month of net payroll gains, however employment has yet to return to pre-pandemic levels. After losing 3,000 jobs in August , the construction sector added 22,000 jobs in September.

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Appraisal Buzz

OCTOBER 8, 2021

The number of mortgages in forbearance saw its l argest reduction in 12 months l ast week. Black Knight said 177,000 loans exited the program, many of them having reached the end of the 18 months of reduced or suspended payments allowed for those financially impacted by the COVID-19 pandemic. This is an 11 percent reduction in program participants during the week ended October 5.

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Housing Wire

OCTOBER 8, 2021

The private-label residential mortgage-backed securities market has been resurrected from its near-death following the global financial crisis a decade and a half ago. This year it is on track to securitize loan volume approaching or even exceeding $100 billion, and driving a healthy share of that secondary market business is J.P. Morgan , the investment bank side of New York-based banking holding company J.P.

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Appraisal Buzz

OCTOBER 8, 2021

In a letter to the White House, NAHB Chairman Fowke outlined three major areas of concern for home builders that may negatively impact the overall U.S. economic landscape. The post NAHB Urges Biden to Address Home Construction Bottlenecks appeared first on theMReport.com. The post NAHB Urges Biden to Address Home Construction Bottlenecks appeared first on Appraisal Buzz.

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Appraisal Buzz

OCTOBER 8, 2021

As part of the Presidents’ plan to confront the changing climate, the U.S. Department of Housing and Urban Development (HUD) released a plan on how it can adapt to a world with a changing climate and to ensure that its operations are resilient to potential impacts. The plan was announced alongside 23 other federal agencies who each released their own set of plans.

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Eyes on Housing

OCTOBER 8, 2021

Job gains slowed for the second straight month amid the resurgence of COVID-19 cases. Total payroll employment rose by 194,000 in September and the unemployment rate dropped to 4.8%. For the coming months, job gains are expected to accelerate as COVID-19 cases began to subside. Despite the slowdown in total nonfarm payroll employment, aggregate construction industry (both residential and non-residential).

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Construction 139

Appraisal Buzz

OCTOBER 8, 2021

An upcoming Legal League 100 webinar examines the operational changes that servicers must navigate in addition to the new rules and regulations governing their foreclosure business. The post The Week Ahead: Balancing Regulatory and Operational Changes as Foreclosure Volume Increases appeared first on DSNews. The post The Week Ahead: Balancing Regulatory and Operational Changes as Foreclosure Volume Increases appeared first on Appraisal Buzz.

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McKissock

OCTOBER 8, 2021

The Bureau of Labor Statistics projects that job growth for appraisers between 2019–2029 will be 3%, which is on pace for all occupations. Since the real estate market impacts the work of real property appraisers, demand for appraisers can fluctuate from year to year. However, in general, the need for appraisers is increasing due to long-term economic expansion and population growth.

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Appraisal Buzz

OCTOBER 8, 2021

The Bureau of Labor Statistics projects that job growth for appraisers between 2019–2029 will be 3%, which is on pace for all occupations. Since the real estate market impacts the work of real property appraisers, demand for appraisers can fluctuate from year to year. However, in general, the need for appraisers is increasing due to long-term economic expansion and population growth.

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Lamacchia Realty

OCTOBER 8, 2021

After over a year as the Business Systems Manager , we are thrilled to announce that John Remby has been promoted to the Director of Business Systems. John is an expert in his field and has been an integral part of building Lamacchia Realty’s Customer Relationship Management system. John first started working as a consultant but got his official start with Lamacchia Realty back in 2017 as a Business Systems Engineer.

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Appraisal Buzz

OCTOBER 8, 2021

A panel of policymakers and housing industry experts will host a virtual forum on the challenges, roadblocks, and solutions to deploying federal Homeowner Assistance Funds. The post The Week Ahead: Allocating Homeowner Assistance Funds appeared first on theMReport.com. The post The Week Ahead: Allocating Homeowner Assistance Funds appeared first on Appraisal Buzz.

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Lamacchia Realty

OCTOBER 8, 2021

Lamacchia Realty has officially announced the promotion of John Millen to his new role of Director of Business Development! In this role, John will be continuing his efforts of consulting REALTORS® on best practices to increase their businesses and provide even more support to those around him. John is also directing a team of Business Development Consultants that focus on recruiting, onboarding, retention and more. .

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Appraisal Buzz

OCTOBER 8, 2021

Fannie Mae began marketing its twenty-third sale of reperforming loans as part of the company’s ongoing effort to reduce the size of its retained mortgage portfolio. The sale consists of approximately 18,800 loans, having an unpaid principal balance of approximately $2.9 billion, and is available for purchase by qualified bidders. This sale of reperforming loans is being marketed in collaboration with Citigroup Global Markets, Inc.

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Lamacchia Realty

OCTOBER 8, 2021

We are proud to announce that Cole Gargaro has been promoted to Lamacchia Realty’s Director of Marketing! Lamacchia Realty has always been at the forefront when it comes to their brand and marketing efforts , so this is a crucial role within the company. Cole was a freelance designer with Lamacchia in 2015 as the company rebranded under the sole ownership of Anthony Lamacchia , and then began full time in 2016 as a Marketing Coordinator where she soon proved she had skills far beyond design!

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Appraisal Buzz

OCTOBER 8, 2021

Virginia Housing has renewed its contract to use Black Knight Inc. ’s MSP servicing system. Virginia Housing has been a Black Knight client for 25 years. Through its continued use of MSP, Virginia Housing will be equipped to further automate its processes and support residents within the state. The agency will also add Black Knight’s Loss Mitigation solution to support deeper automation in its loss mitigation processes.

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BiggerPockets

OCTOBER 8, 2021

We’d all like to imagine that Ashley Kehr and Tony Robinson are perfect investors. They do perfect deals, have a perfect team, and everything runs smoothly in their lives. While […].

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Appraisal Buzz

OCTOBER 8, 2021

Amid rising home prices, the average mortgage payment has increased by $50 over the last six weeks as sellers’ median asking price increased 12% year over year to a new record high according to a new report from Redfin. Even though median asking prices are at record-highs, houses are still being purchased at a blistering pace—46% of homes … The post Rising Home Prices Drive Up Mortgage Costs appeared first on DSNews.

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Will Springer Realtor

OCTOBER 8, 2021

Pumpkin Picking, through Oct. 31 Enjoy the family tradition of selecting your perfect pumpkin across the Puget Sound region. Plus, some pumpkin farms offer hayrides and corn mazes. Plan now! Halloween Concert, Oct. 29-30 For the youth (and youth at heart), check out Boo! Seattle for a unique blend of music, acts, costumed performers and special effects.

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Appraisal Buzz

OCTOBER 8, 2021

Amid rising home prices, the average mortgage payment has increased by $50 over the last six weeks as sellers’ median asking price increased 12% year over year to a new record high according to a new report from Redfin. Even though median asking prices are at record-highs, houses are still being purchased at a blistering pace—46% of homes … The post The Housing Market Pushing Up Mortgage Costs?

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Housing Wire

OCTOBER 8, 2021

The Consumer Financial Protection Bureau (CFPB) today settled a lawsuit against the nation’s largest reverse mortgage lender for allegedly sending consumers inflated home valuations. In a lawsuit filed today in the U.S. District Court of California’s Central District, the CFPB alleged that Irvine, California-based American Advisors Group (AAG) sent borrowers deceptive and inflated home estimates in direct mailers to convince consumers to take out a reverse mortgage.

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Appraisal Buzz

OCTOBER 8, 2021

Freddie Mac plans to offer at least $3 billion in single-family affordable housing bonds. This new bond program will support affordable homeownership and serve historically underserved markets. To underscore this effort, the company is offering approximately $285 million in Uniform Mortgage-Backed Securities backed by loans purchased through its Home Possible program.

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On Q Financial

OCTOBER 8, 2021

Easy Steps to Help Make Sure You Don’t Leave Money on the Table. A fantastic rate is just one of the many reasons now may be the best time to call your lender, but some people still haven’t done it. With mortgage interest rates still hovering near the lowest levels in history, many are wondering if now is the right time to refinance their existing mortgage loan.

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Appraisal Buzz

OCTOBER 8, 2021

Thirty members of the House Financial Services Committee have written a letter to President Biden, House Speaker Pelosi, and Senate Majority Leader Schumer to pass housing provisions in the Build Back Better Act. The post Expanding Affordable Housing Access Through $3.5T Measure appeared first on theMReport.com. The post Expanding Affordable Housing Access Through $3.5T Measure appeared first on Appraisal Buzz.

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Empire Appraisal Group

OCTOBER 8, 2021

Condo Prices Are Shooting Through the Roof in Florida. © jennifermagee – iStock / Getty Images Plus. Condo Prices Are Shooting Through the Roof in Florida. Priced out of the single-family market, more buyers are now turning their attention toward often a more affordable alternative—condominiums and townhouses. Over the past year, sales have rapidly been on the rise, whether for a permanent residence or even as a second home.

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Appraisal Buzz

OCTOBER 8, 2021

House Financial Services Committee reps call on the Biden Administration to fund housing measures in reconciliation in the $3.5 trillion Build Back Better Act. The post Congressional Push to Fund Housing in Build Back Better Act appeared first on DSNews. The post Congressional Push to Fund Housing in Build Back Better Act appeared first on Appraisal Buzz.

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Will Springer Realtor

OCTOBER 8, 2021

Here’s how topsy-turvy our housing market has been this past year-plus. I have been asked this question more than a few times this summer/fall by consumers on the fence: “Did I miss my window?”. Now you may think I am referring only to homeowners, as in did they miss the peak of the market to sell their home at top dollar. That answer is a resounding “no” – at least for now.

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