Fri.Sep 23, 2022

Former HUD official convicted of falsifying records

Housing Wire

A former assistant inspector general for the Department of Housing and Urban Development (HUD) has been convicted by a federal jury of concealing efforts to direct tens of millions of dollars in government business to a friend and government contractor to whom he owed money.

Mortgage Rates Price Homebuyers Out of Market

Appraisal Buzz

According to Redfin’s latest market analysis, some 44.6% of home offers written by Redfin agents nationwide faced competition on a seasonally adjusted basis in August, the lowest bidding-war rate since the beginning of the pandemic when the housing market nearly ground to a halt.

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Thrive Mortgage to acquire American Mortgage Service Company

Housing Wire

Texas-based independent mortgage bank Thrive Mortgage has signed a letter of intent to acquire the Ohio-based lender American Mortgage Service Company (AMSC). Financial terms of the deal were not disclosed.

Fannie Mae Continues to Forecast 2023 Recession

Appraisal Buzz

According to new research from Fannie Mae’s Economic and Strategic Research Group (ESR), the housing market is expected to further cool as mortgage rates continue to rise and continues to predict an official recession conditions in 2023.

The housing market correction will be deep, and ugly

Housing Wire

You think things are bad in the housing market now? Stick around and see if mortgage rates climb into the 7% range. If it happens, the current origination forecast of $2.2 trillion in 2023 will look awfully rosy.

Tumultuous Economic Conditions on Horizon After Recent Fed Move

Appraisal Buzz

According to new research from Fannie Mae’s Economic and Strategic Research Group (ESR), the housing market is expected to further cool as mortgage rates continue to rise and continues to predict an official recession conditions in 2023.

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Elevated Purchase Demand Fueling Housing Market Potential

Appraisal Buzz

First American Financial Corporation has released the First American’s proprietary Potential Home Sales Model for the month of August 2022. The Potential Home Sales Model measures what the healthy market level of home sales should be based on economic, demographic, and housing market fundamentals.

HW+ Member Spotlight: Katherine Mechling

Housing Wire

This week’s HW+ member spotlight features Katherine Mechling, director of communication at Side. HW Media: What is your current favorite HW+ article and why? Katherine Mechling: I’d point to Derek Brummer’s piece in the June issue: “ The American dream and the affordability crisis.”

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Purchase Mortgage Apps for New Homes Dropped 10% YoY in August

Appraisal Buzz

The MBA reports that new home purchase applications were down year-over-year in August, but rebounded in after four consecutive months of declines. The post Purchase Mortgage Apps for New Homes Dropped 10% YoY in August appeared first on theMReport.com.

Opinion: SFR companies not to blame for lack of inventory

Housing Wire

A recent article, “Stop subsidizing Wall Street buying up homes,” perpetuates an uninformed stereotype of single-family rental home companies while revealing a serious neglect for the important contributions industry firms bring to today’s housing market.

Delinquencies Still Well Below Pre-Pandemic Levels—When Will That Change?

Appraisal Buzz

Black Knight Inc. has released a “first look” the latest iteration of its Mortgage Monitor Report for August 2022, which looks at delinquency and foreclosure rates across the U.S. According to Black Knight, the national delinquency rate fell to 2.79% in August.

Opinion: CRA doesn’t work for banks or IMBs

Housing Wire

Last year, in a Housing Wire op-ed , Community Home Lenders of America took the lead nationally in opposing calls to extend the Community Reinvestment Act (CRA) to independent mortgage banks (IMBs). .

Homebuyer Affordability Inches Upward in August

Appraisal Buzz

Homebuyer affordability improved for the third consecutive month in August, with the national median payment applied for by applicants decreasing to $1,839 from $1,844 in July.

Alec Hollis to speak at HW Annual Oct. 4

Housing Wire

All eyes have been on the Federal Reserve as the housing industry tries to account for the Fed-driven slowdown of the housing market. As a result, lenders have been closely watching and planning for how this impacts their portfolios and business given the increase in mortgage interest rates.

Studio Apartments Prices Lead Rent Charge

Appraisal Buzz

As prices on everything increase across the board, more and more are turning to renting—either by circumstance or by choice.

Traveling Between Homes with Pets – How You Can Make It Work

Cleveland Appraisal Blog

Hello! I hope you’re having a fantastic week! This week I am happy to welcome back guest blogger Shirley Martin. In this article, she offers some great tips on traveling between homes with our pets. I hope you enjoy it!

August Rents Pull Back for First Time in Over a Year

Appraisal Buzz

As prices on everything increase across the board, more and more are turning to renting—either by circumstance or by choice.

Appraisal in Changing Markets

Appraisal Today

Sellers Chasing the ball down the road in real estate. By Ryan Lundquist. Excerpts: Commentary from a (Ryan) appraisal: Here is a bit of commentary in one of my recent appraisal reports. This is only part of what I say because I’m a man who needs a few paragraphs. One box just isn’t enough. “At

Q2 Profits on Home Flips Hit New High

Appraisal Buzz

Fix-and-flip investors enjoyed another strong quarter in Q2, as the total number of properties flipped nationwide was the second-highest ATTOM recorded over the past 22 years. The post Q2 Profits on Home Flips Hit New High appeared first on DSNews.

What’s New in Appraisal Membership: September 2022

McKissock

McKissock’s Unlimited Learning Members enjoy 24/7 access to a wide variety of online appraisal classes, webinars, videos, podcasts, checklists, job aids, and other resources.

CFPB Announces Efforts to Prompt New Opportunities for Homeowners

Appraisal Buzz

The Consumer Financial Protection Bureau (CFPB) is asking for public input on ways to spur new mortgage products that help households. The CFPB seeks insights on ways to improve mortgage refinances for homeowners who would benefit from refinancing, especially for borrowers with smaller loan balances.

August 2022 MA/NH Housing Report

Lamacchia Realty

Massachusetts Home Sales Down 11.6%. Sales are down 11.6% year over year with August 2022 at 8,844 over 10,004 last August. Sales are down across all categories.

CFPB Seeks to Expand Homebuyer Options

Appraisal Buzz

The Consumer Financial Protection Bureau (CFPB) is asking for public input on ways to spur new mortgage products that help households. The CFPB seeks insights on ways to improve mortgage refinances for homeowners who would benefit from refinancing, especially for borrowers with smaller loan balances.

A view from the top

Mortgagebroker News

Clinton Wilkins has hit the heights in Canada's mortgage industry through perseverance and a strong client focus

HUD Awards $1.4M for Disaster Recovery Research

Appraisal Buzz

Under the Fiscal Year Notice of Funding Opportunity, HUD has pledged $1.4 million to The Urban Institute and Horne, LLP to assist low-income renters and communities impacted by disasters. The post HUD Awards $1.4M for Disaster Recovery Research appeared first on DSNews. The post HUD Awards $1.4M for Disaster Recovery Research appeared first on Appraisal Buzz. Around The Web

Is the Bank of Canada winning its war on inflation?

Mortgagebroker News

After hitting a four-decade high in July, price growth has slowed in two successive months

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Bidding-War Rate Reaches Lowest Level Since 2020

Appraisal Buzz

According to Redfin’s latest market analysis, some 44.6% of home offers written by Redfin agents nationwide faced competition on a seasonally adjusted basis in August, the lowest bidding-war rate since the beginning of the pandemic when the housing market nearly ground to a halt. That number is down from 63.5% a year earlier, and a … The post Bidding-War Rate Reaches Lowest Level Since 2020 appeared first on DSNews.

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How to stave off recession risk - former BoC gov

Mortgagebroker News

The private sector might make price- and wage-setting decisions in response to elevated inflation

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How to Get Rid of Bugs and Critters in and Around Your Home

Eppraisal

Bugs and critters are all around outside. They are attracted to certain plants, flowers, food and water around the exteriors of our homes. If you live by a body of water, field, forest, nature preserve or new construction, they can be abundant.

StatCan reports on the most unaffordable housing markets

Mortgagebroker News

The prevalence of the downtown city lifestyle was a major factor

Cheaper, Faster, and Better for Investors: Modular Homes Make a Comeback

BiggerPockets

Modular homes don’t have the same market sentiment that traditional housing does. For many people, the thought of building a home in a factory only comes with anxiety. Decades ago, […]. All On the Market Podcast

StatCan: Suitable housing still in short supply

Mortgagebroker News

A substantial share of Canadian homes is "not suitable" for the number of their occupants

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Finance Friday: How to Become Debt-Free 20 Years Faster Than You Thought

BiggerPockets

Student loan debt—the gift that keeps on giving with interest, stress, and the overwhelming feeling that you won’t be able to pay them off. The larger the loan, the heavier […]. All BiggerPockets Money Podcast

REIT reinstates payout to pre-pandemic levels

Mortgagebroker News

This is in the wake of the commercial REIT's robust Q2 figures

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