Thu.Jun 02, 2022

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Mortgage rates steady at 5% as housing supply increases

Housing Wire

Purchase mortgage rates this week averaged 5.09%, essentially flat from the prior week, according to the latest Freddie Mac PMMS. A year ago at this time, 30-year fixed rate purchase rates were at 2.99%. The government-sponsored enterprise index accounts solely for purchase mortgages reported by lenders during the past three days. “Mortgage rates continued to inch downward this week but are still significantly higher than last year, affecting affordability and purchase demand,” said Sam Khater,

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Considerations for Moving Closer to A Senior When They Need You Most

Cleveland Appraisal Blog

When it comes to our aging family or loved ones, there comes a point when they are going to need some help. In this post, I am happy to welcome back a regular guest blogger, and Author, Jessica Brody. I always love her articles! I hope that you enjoy her article and can benefit from some of her tips on helping our dear seniors. Enjoy! There comes a time in many of our lives when we realize that we need to do more to care for our parents or the other important seniors in our lives.

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Logan Mohtashami unpacks the slow train wreck that’s been happening in housing inventory

Housing Wire

In this HW+ Slack Q&A, HousingWire Lead Analyst Logan Mohtashami answers questions from our HW+ member community. One top question he addresses is how the industry is reacting to this savagely unhealthy housing market. As a member of HW+, you get access to 30-minute Slack Q&As , where we invite the HW Media newsroom to break down the hottest topics in the industry.

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Mortgage Lending Creativity Adding Risk 

Appraisal Buzz

BLOG VIEW: The mortgage market is shifting. The fact that pundits have been warning that lenders would see significant changes in their businesses in 2022 has done little to prepare them or make the shocks that come with these changes any easier. Experts had been predicting that interest rates would be rising as early as late 2020. Now that it’s here, the impacts are landing.

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HUD dings Movement Mortgage for alleged fair housing violations

Housing Wire

Movement Mortgage will pay $75,000 to resolve allegations of racial discrimination, in violation of the Fair Housing Act, identified by undercover testers from the National Community Reinvestment Coalition. The agreement resolves a complaint the NCRC filed in October 2021 with the Department of Housing and Urban Development. NCRC alleged the Fort Mill, South Carolina-based retail lender discriminated against Black and Hispanic people seeking mortgages in the Seattle-Tacoma area.

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iEmergent Hires Chris Richey as Chief Analytics Officer

Appraisal Buzz

Chris Richey has joined iEmergent , a forecasting and advisory services firm for the financial services, mortgage and real estate industries, as chief analytics officer. Richey, who first joined iEmergent in a consulting capacity in 2016, has been instrumental in building out the data and information technology (IT) frameworks supporting the firm’s external Mortgage MarketSmart and internal business intelligence (BI) platforms.

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Sales Boomerang Taps Cheryl Messner as EVP, Customer Success

Appraisal Buzz

Cheryl Messner has joined Sales Boomerang , which offers an automated borrower intelligence and retention system, as executive vice president, customer success. Messner joins Sales Boomerang following 15 years at Optimal Blue, where she swiftly worked her way up the ladder. She began working in the customer service department as an account manager and later transitioned to the product management department, where she advanced to a director role in under five years.

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Tensions rise between CrossCountry and Guild

Housing Wire

CrossCountry Mortgage is suing Guild Mortgage for poaching a former Las Vegas branch manager and allegedly convincing her to steal proprietary information, the latest escalation in a brewing legal battle between the retail mortgage lenders. CrossCountry alleges that San Diego-based Guild Mortgage offered Mirajoy Casimiro, former branch manager and loan originator at CrossCountry, a lucrative employment package and persuaded her to take “massive amounts” of confidential business and client inform

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FHFA Requires GSEs to Submit Annual Capital Plans

Appraisal Buzz

As of June 1, the Federal Housing Finance Agency (FHFA) has published a final rule that supplements the Enterprise Regulatory Capital Framework (ERCF) by requiring Fannie Mae and Freddie Mac (the GSEs) to submit annual capital plans no the agency and provide prior notice for certain capital actions. The final rule mandates that the GSEs’ … The post FHFA Requires GSEs to Submit Annual Capital Plans appeared first on DSNews.

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Apartment Absorption Increased while Completions Fell

Eyes on Housing

Data from the Survey of Market Absorption of Apartments (SOMA), produced by the Census Bureau, suggest continued improvement for the multifamily sector in the fourth quarter of 2021 due to strong demand and low vacancy rates. However, the decline in the number of apartment and condominium completions in the fourth quarter of 2021 may reflect the ongoing supply chain challenges.

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Sagent Partners With Consolidated Analytics

Appraisal Buzz

Sagent, a fintech company modernizing mortgage and consumer loan servicing for America’s top banks and lenders, today announced a partnership with Consolidated Analytics to automate valuation services for default servicing through an integration into TEMPO, Sagent’s default management platform. The partnership was announced recently at IGNITE, Sagent’s annual user summit.

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35 Unique Things To Do in Raleigh North Carolina in 2022

Raleigh Realty

If you're searching for things to do in Raleigh, North Carolina, we have you covered. In fact, whether you’re planning a staycation or looking to have a night out, we have recommendations you’re sure to love. Please allow us to welcome you to one of the world's best cities. If you're moving to Raleigh, then there's a good chance you've already discovered the magic of the City of Oaks.

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Housing Inventory Grows For the First Time in Three Years

Appraisal Buzz

New data suggests the U.S. housing market may have hit a turning point in its supply struggle in May, as active inventory recorded the first year-over-year increase since June 2019, according to the latest Realtor.com Monthly Housing Trends Report for May. Meanwhile, the median national home price surged to an all-time high of $447,000, and … The post Housing Inventory Grows For the First Time in Three Years appeared first on DSNews.

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Is FOMO Fueling the Real Estate Market?

Empire Appraisal Group

Is FOMO Fueling the Real Estate Market? Source: Is FOMO Fueling the Real Estate Market? | Florida Realtors. By Amber Randall. Housing markets continue to run hot, despite rising interest rates and home prices. Some researchers worry a fear of missing out may be fueling the current trend. FORT LAUDERDALE, Fla. – Rising interest rates and higher home prices would normally cool a hot housing market, yet the national and local real estate scenes continue to run red hot.

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Housing Inventory Grows For the First Time in Three Years

Appraisal Buzz

New data suggests the U.S. housing market may have hit a turning point in its supply struggle in May, as active inventory recorded the first year-over-year increase since June 2019, according to the latest Realtor.com Monthly Housing Trends Report for May. Meanwhile, the median national home price surged to an all-time high of $447,000, and … The post Housing Inventory Grows For the First Time in Three Years appeared first on DSNews.

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How to Buy a Rental Property: Get Tips from the Experts

PennyMac

Have you been inspired by one of the numerous investment property television shows? Or, have you seen friends or family find success in real estate? If so, you are probably intrigued by the prospect of investing in rental property. But figuring out how to get started can be a difficult task in and of itself. Financing, knowing what kind of property to buy, and the many other steps are all part of a well-rounded investment plan.

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Freddie Mac’s Weekly Results Show Mortgage Rates Remain Flat

Appraisal Buzz

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 5.09% with an average 0.8 point as of June 2, 2022, down slightly from last week when it averaged 5.10%. A year ago at this time, the 30-year FRM averaged 2.99%. “Mortgage rates continued to inch downward this week but are still significantly higher than last year, affecting affordability and purchase demand,”.

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The 10 Airbnb Plus Requirements to Become Eligible

Mashvisor

What are the different Airbnb Plus requirements and how does an investor or host become eligible for the program? Table of Contents Airbnb Plus: What Is It?

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Q2 Zombie Foreclosures on the Rise

Appraisal Buzz

With foreclosure activity on the rise 13% quarter-over-quarter, Q2 marked the third straight quarter that the count of pre-foreclosure properties has risen since the end of the nationwide foreclosure moratorium. The post Q2 Zombie Foreclosures on the Rise appeared first on DSNews. The post Q2 Zombie Foreclosures on the Rise appeared first on Appraisal Buzz.

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Are There Free Skip Tracing Tools for Real Estate?

Mashvisor

If you’re looking for free skip tracing tools for real estate, you should be aware of the risks and cautious about your approach to such tools.

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What Can a Certified Commercial Appraiser Do?

Valcre

Certified commercial appraisers play a key role in the real estate industry. With thorough research, they generate accurate valuations of commercial properties. This helps guide the purchase process and ensures that no one is paying too much or too little for a property. A certified commercial appraiser is qualified to assess a variety of properties such as shopping malls, hotels, office buildings, industrial centers, and vacant land.

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Why Is Inflation So High? Why Was 2008 Different?

BiggerPockets

There’s a lot of uncertainty surrounding the economy, real estate market, and the role of inflation in the economic environment. When it comes to inflation, it’s important to identify how […].

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'Aggressive' BoC could be readying even larger rate hikes, says CIBC economist

Mortgagebroker News

"You cannot just talk yourself to lower inflation… You have to demonstrate that you're very serious"

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Finance Friday: Self-Employed Income and Short-Term Rental Investing

BiggerPockets

If you want to invest in real estate, you’ll need a few things: a property, an income source, and some cash. If you’ve got all three, you should be able […].

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Big non-agency players prepare for a blockchain future

Housing Wire

Even though J.P. Morgan CEO Jamie Dimon is famously no fan of crypto, the bank dove into the enigmatic world of blockchain-based finance in 2020 with the launch of Onyx , a business unit devoted to exploring and expanding the use of blockchain technologies. . Soon after Onyx was formed, the bank launched Onyx Digital Assets , a blockchain-based platform that makes possible transactions that involve tokenization — or creating digitized tokens linked to or backed by real-world assets.

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9 Foxborough, MA Real Estate Market Statistics to Know

Buys Brokers Only LLC

Foxborough, Massachusetts, located in Norfolk County and about 30 miles southwest of Boston, experienced a drop in home sales, fewer closed transactions, and rising home prices in April 2022 on a year-over-year basis.

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Community Trust on the value of continuous evolution

Mortgagebroker News

"One of the things the last couple of years have taught us is it's very difficult to predict what's going to happen next"

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Joselin Malkhasian recently on Bloomberg’s Baystate Business Podcast

Lamacchia Realty

June 1 – One of our Waltham area REALTORS, Joselin Malkhasian, was recently a guest on Bloomberg’s Baystate Business podcast to discuss the current real estate market. She discusses the cooling down of the market and the impending shift triggered firstly by rising mortgage rates. She also discusses price appreciation and inventory levels and their affect on the market.

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Poll: Canadians' home purchase dreams fading

Mortgagebroker News

Soaring interest rates and overall affordability serve as major roadblocks for many hopeful home owners

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Here’s why some lenders choose IPEN over RON

Housing Wire

The pandemic changed the way people do everything from work and school to grocery shopping and medical appointments and the real estate industry has been working to keep pace with the demand for digitization. HousingWire recently spoke with Brendon Weiss, co-founder of EscrowTab, about how lenders can streamline their eClosings with the help of IPEN.

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Sotheby's sheds light on Generation Z housing preferences

Mortgagebroker News

The remote-working revolution significantly affected many Canadian young adults' home purchase plans

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Opinion: Understanding trends is key to predicting the next housing shift

Housing Wire

We are coming off a tumultuous two years of growth in the U.S. housing market. And now we are facing a tumultuous year of mortgage market normalization. So it’s true to say that turmoil and mortgage outlooks are strange bedfellows, but it’s true. Interest rates are rising, affordability is a challenge, and geopolitical conflicts impact global supply markets.

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CMP is calling for the mortgage industry's newest trailblazers

Mortgagebroker News

Who are the outstanding women in Canada's mortgage industry?

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How To Eliminate Data Silos In Your Tech Stack

GoForrmz

Identifying and Eliminating Data Silos in Your Business We live in a data-driven world. It's no longer enough to make decisions based on intuition. Businesses need accurate data to make educated decisions and stay competitive. But managing data can be difficult. There’s so much of it, and it’s ever-changing. Human errors like duplicate entries, miscommunication, and especially data silos make data management all the more challenging.