Wed.Sep 21, 2022

Existing home sales data shows extent of housing inflation

Housing Wire

Today the National Association of Realtors reported that existing home sales fell once again to 4.80 million. Even though this was a beat of estimates, the sales decline trend due to higher mortgage rates and home prices continues.

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Mortgage App Volume Ends Six-Week Skid

Appraisal Buzz

For the first time in more than 45 days, mortgage application volume turned upward, as the MBA reported overall app volume rose nearly 4% week-over week, ahead of yet another rate hike by the Fed. The post Mortgage App Volume Ends Six-Week Skid appeared first on theMReport.com.

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The housing market slowdown has only just begun: Fannie Mae

Housing Wire

Economists at Fannie Mae say the Federal Reserve ‘s fiscal policy is having its desired effect on the housing market – home price growth began to slow in the summer, and the GSE says the housing slowdown will continue through 2023.

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Ginnie Mae Loans in Forbearance Rise in August

Appraisal Buzz

While overall mortgage servicers’ portfolio volume of loans in forbearance continues to dwindle, Ginnie Mae loans in forbearance increased in August, with approximately 360,000 U.S. homeowners currently in forbearance plans.

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Mortgage applications rise ahead of Fed’s meeting

Housing Wire

Demand for mortgage loans increased for the first time in six weeks, ahead of the Federal Reserve ’s meeting on Wednesday, when observers expect at least another 75 basis points hike to the federal funds rate.

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Existing-Home Sales Slip for Seventh Consecutive Month

Appraisal Buzz

Existing-home sales experienced another slight dip in August, marking the seventh consecutive month of declines, according to the National Association of REALTORS. New data also found that month-over-month sales varied across the four major U.S.

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More Trending

The Industry’s Regulatory Concerns Addressed at LL 100 Fall Servicer Summit

Appraisal Buzz

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Hot home-equity market fueling securitization deals

Housing Wire

New York-based Unlock Technologies , a fintech operating in the shared-equity market, and real estate investment firm Saluda Grade , have closed a $180 million private-label securitization (PLS) backed entirely by Unlock-originated residential home-equity agreements (HEAs).

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Asian, Black, and Hispanic-white Borrower’s Purchase Loan Shares Increase

Appraisal Buzz

The Consumer Financial Protection Bureau (CFPB) has released its annual report on residential mortgage lending activity and trends for 2021. The report’s data are submitted by thousands of the nation’s lending institutions under the Home Mortgage Disclosure Act (HMDA).

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Fannie Mae prices ninth CAS note offering of 2022

Housing Wire

Fannie Mae has launched its ninth Connecticut Avenue Series (CAS) credit-risk transfer deal of 2022, a $$591 million note offering backed by a reference pool of single-family mortgages.

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CFPB Annual Report Reveals Significant Increase in Home Purchase Loans

Appraisal Buzz

The Consumer Financial Protection Bureau (CFPB) has released its annual report on residential mortgage lending activity and trends for 2021. The report’s data are submitted by thousands of the nation’s lending institutions under the Home Mortgage Disclosure Act (HMDA).

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5 TikTok accounts every LO should be following

Housing Wire

Are you on TikTok yet? Your future borrowers could be – the social media app is expected to reach 1.8 billion users by the end of 2022, with many users falling under the Millennial and Gen Z umbrellas.

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Federal Reserve Continues Rate Hikes

Appraisal Buzz

For the third time in a row, the Federal Reserve’s Federal Open Market Committee (FOMC) raised the nominal interest rate by 75-basis points at the conclusion of their scheduled two-day meeting to a rate of 3.00-3.25%. This marks the highest interest rate in 14 years.

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Existing home sales continued their slide in August

Housing Wire

Existing home sales continued to fall in August, as homebuyer demand cooled further as a result of the Federal Reserve’s inflation-busting policy. The seasonally adjusted sales rate for existing homes fell 0.4% month over month in August to a rate of 4.80

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The Eyes and Ears of the Lender

Appraisal Buzz

Today’s Buzzcast interview is with Ken Dicks, Director of Appraiser Compliance for Reggora. We sat down with Ken and Joan Trice, Founder of Allterra Group, LLC, to discuss how appraisers are a vital tool when it comes to lenders and a lender perspective.

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Fed hikes rates by 75 bps to rein in still-hot inflation

Housing Wire

The Federal Reserve (Fed) on Wednesday raised the federal funds rate by another 75 basis points, to 3%-3.25%, bringing it back to a level last seen in March 2008.

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Should We Think About Thinking?

George Dell

Appraisers are paid for their thinking, as well as some other skills. If there is no thinking, it can be called an “Automated” appraisal. Thinking is defined as giving thought to consider or reason about something – using rational judgment. Thinking about thinking can cause discomfort.

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Ginnie Mae: Vast majority will be able to comply with new capital rule

Housing Wire

Following grumblings from some servicers and industry trade groups, Ginnie Mae on Tuesday issued a statement that most nonbank mortgage companies it does business with will be able to comply with its upcoming — and controversial — capital rule requirements.

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Fed Raises Interest Rates by 75 Points

Appraisal Buzz

For the third time in a row, the Federal Reserve’s Federal Open Market Committee (FOMC) raised the nominal interest rate by 75-basis points at the conclusion of their scheduled two-day meeting to a rate of 3.00-3.25%. This marks the highest interest rate in 14 years. This marks the fifth increase this year and the … The post Fed Raises Interest Rates by 75 Points appeared first on theMReport.com. The post Fed Raises Interest Rates by 75 Points appeared first on Appraisal Buzz.

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Meet the HousingWire Annual Welcome Committee: Haley Parker

Housing Wire

Haley Parker is the area business development manager at Fairway Independent Mortgage Corporation. She sat down with HousingWire to share her excitement for the upcoming HousingWire Annual conference and her role on the welcome committee.

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Growth of Household Real Estate Market Value Slows in Q2

Eyes on Housing

The latest results from the Federal Reserve’s Z.1

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Homepoint the latest lender to raise conforming loan limits

Housing Wire

Ann Arbor, Michigan-based mortgage lender Homepoint has raised conforming loan limits ahead of the Federal Housing Finance Agency ’s (FHFA) decision expected to November. The decision follows that of competitors Rocket Mortgage , United Wholesale Mortgage , Pennymac and Finance of America.

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Fed Raises by 75 Basis Points, Again

Eyes on Housing

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 3.25%.

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How to Make your Appraisal Reports More Accessible

Valcre

When a property appraiser completes their investigation, they put their findings into a report for the clients to utilize as the basis for making decisions

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Existing Home Sales Fall for Seven Straight Month and Prices Soften

Eyes on Housing

As elevated mortgage rates and higher home prices continue to price out homebuyers and reduce affordability, existing home sales declined for seven consecutive months in August, according to the National Association of Realtors (NAR).

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What’s in a Street Name? A Key to Home Values

Empire Appraisal Group

What’s in a Street Name? A Key to Home Values. By Dan Weil. Homes are more expensive along streets with the words Beverly, Third, Brickell, Bayshore or Island. But Timber or Knoll street homes took longer to sell. JACKSON, Ga.

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MBA: Office market changes seem permanent

Valuation Review

The ongoing tug of war between employers and employees about returning to the office will accelerate as pandemic-related impacts fade, according to a new Mortgage Bankers Association (MBA) white paper.

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Are variable-rate holders making the switch to fixed?

Mortgagebroker News

A series of increases in 2022 have seen variable rates surge

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Phone usage for home inspections more frequent, says executive

Valuation Review

Valuation Review concludes its conversation with Mark Walser, president of Incenter Appraisal Management. Walser gives more insight on the profession, as well as his belief that more and more, smartphones are being used for home inspections/appraisals.

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Major market correction imminent unless feds act soon, says top exec

Mortgagebroker News

Canadian housing market and the consumer public don't need to be at risk, argues exec

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Digital Federal Credit Union, Blue Sage integrate

Valuation Review

Blue Sage Solutions, LLC, developers of the mortgage industry’s browser-based, end-to-end mortgage lending system, recently announced an integration with Digital Federal Credit Union (DCU).

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Brokers on Lenders 2022

Mortgagebroker News

Brokers reveal what makes an excellent lender and choose the top performers in 2022

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HUD making $40 million in HHP grants available

Valuation Review

The U.S. Department of Housing and Urban Development (HUD) announced the availability of $40 million in grants through its Healthy Homes Production Grant Program (HHP) to fix older housing, preserve affordable housing and improve the health of children and families

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Brokers on Lenders 2022: The results are in

Mortgagebroker News

Find out how brokers viewed lenders' performance on turnaround times, broker support, product range and more

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