Fri.Sep 23, 2022

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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. The acquisition will strengthen Thrive’s retail channel and bring with it new territories amidst arguably the most challenging mortgage market since the early 1980s. .

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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. According to the ESR, economic growth is projected to resume in the second half of 2022, but the … The post Fannie Mae Continues to Forecast 2023 Recession appeared first on DSNews.

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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. Even the most battle-tested industry players are preparing for one of the strongest housing market corrections in decades. Federal Reserve Chairman Jerome Powell sent a clear message during a press conference following the announcement of the central bank’s decision to hike the fe

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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. The delinquency rate was 2.89% in July, 2.84% in June, 2.75% in … The post Delinquencies Still Well Below Pre-Pandemic Levels—When Will That Change?

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Latest S&P Global PMI results signal lingering inflation 

Housing Wire

The latest S&P Global U.S. purchasing managers index (PMI) numbers are out, and the results are mixed at best — indicating that inflation is abating some but is far from tamed. The composite output PMI index came in at 49.3 for September, up from 44.6 in August, signaling a softer, marginal decline in private-sector business activity. An index score above 50 indicates business activity is expanding while a reading below 50 indicates it’s contracting.

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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. The post Q2 Profits on Home Flips Hit New High appeared first on Appraisal Buzz.

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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. The agency also seeks public input on ways to support … The post CFPB Seeks to Expand Homebuyer Options appeared first on DSNews.

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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. Eghbal “Eddie” Saffarinia, 62, of Alexandria, Virginia, perpetrated a scheme to conceal key facts, including the extent and nature of his relationship with a “personal friend” who was the owner and CEO of an information te

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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.

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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). . The National Community Reinvestment Coalition (NCRC) then returned the volley in an op-ed by Jesse Van Tol advocating for extending CRA to IMBs. And HousingWire brought us together for a spirted “Lunch and Learn” debate on the topic.

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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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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. To help shed some light on how companies are strategically navigating the economic changes in the market, we’re hosting a Q&A with Alec Hollis, managing director at ALM First Financial Advisors , d

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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! Owning a home in another state can be a challenge with travel, organization, and house maintenance tasks. Another challenge for second homeowners is dealing with their pets.

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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 the least we ought to describe the market as showing a downward seasonal shift, though it’s possible we can call this a downward cycle if the trend persists over time.

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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

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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, […].

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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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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 […].

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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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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. Bugs and critters find their way into homes looking for food, water, shelter and warmth. Here are a couple ideas for ridding your home of these pesky bugs and critters, depending on what they are and their level of infestation.

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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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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. Contrary to their portrayal as indiscriminate buyers of properties far and wide, providers of single-family rental homes are working diligently to respond to the demand for quality, affordably priced rental housing in safe, well-located neighbo

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StatCan reports on the most unaffordable housing markets

Mortgagebroker News

The prevalence of the downtown city lifestyle was a major factor

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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. Single families: 6,318 (2021) | 5,732 (2022) Condominiums: 2,773 (2021) | 2,298 (2022) Multi-families: 913 (2021) | 814 (2022) Average prices have continued their rise with another year-over-year increase of 4.1%, now at $608,270.

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A trailblazing product for a dynamic industry

Mortgagebroker News

Gary Fooks, of 8Twelve Mortgage, on how his company's platform improves business processes

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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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