Wed.Oct 20, 2021

Mortgage activity falters as rates rise

Housing Wire

Mortgage application activity dropped 6.3% for the week ending Oct. 15, according to the latest Mortgage Bankers Association survey. And, as you might have guessed, mortgage rates had a lot to do with it.

Appraisers – Don’t Fall for the Scam!

Appraisal Buzz

In today’s Buzzcast, we dive into the recent phone scam that has been targeting appraisers. Today we have Joan Trice, Founder of Alterra Group, and Alan Pair, Chief Appraiser of SVP Valuations. We’ll be getting the inside scoop while they discuss what to do if you receive a call.

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Mortgage execs better prepare for redlining enforcement

Housing Wire

Since Rohit Chopra was confirmed as the new director of the Consumer Financial Protection Bureau (CFPB) in September, there’s been one particular word on the lips of mortgage executives. And it gives them chills: redlining.

The Market is Cooling, What Does That Mean?

Appraisal Buzz

RE/MAX has released its National Housing Report for September 2021, which found that 2021 is starting to resemble a traditional year and mirroring seasonal norms as September home sales dropped 7.0% from August and the Median Sales Price slipped 1.1% to $329,000.

Affordable housing caught in a Texas showdown

Housing Wire

The popularity of socially responsible investing in areas such as affordable housing has run headlong into the nation’s culture wars in Texas.

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Rise in Rates Push Decline in Mortgage Apps

Appraisal Buzz

With mortgage rates hitting near-18-month highs, the MBA reports a 6.3% slide in both purchase and refi apps week-over-week. The post Rise in Rates Push Decline in Mortgage Apps appeared first on theMReport.com. The post Rise in Rates Push Decline in Mortgage Apps appeared first on Appraisal Buzz.

StoicLane has plans to create an appraisal giant

Housing Wire

Less than one month after launching operations , the private holding group StoicLane – the backers of Interfirst Mortgage – has acquired control of the appraisal management company Lender’s Valuation Services (LVS). The companies did not disclose the amount of the deal announced on Wednesday.

More Trending

What! No Report?

George Dell

No report. Can it be? Does modernized appraisal require a modernized report? And how about non-appraiser appraisals (valuations)? Here we use the word ‘appraisal’ in its generic public meaning.)

Waterstone Mortgage Names Rich Harkwell as Chief Sales Officer

Appraisal Buzz

In his new role, Harkwell will focus on long-term sales goals, continuing to build Waterstone Mortgage’s nationwide presence. The post Waterstone Mortgage Names Rich Harkwell as Chief Sales Officer appeared first on theMReport.com.

Top 20 Markets for Single-Family and Multifamily Permits: 2011-2020

Eyes on Housing

Despite the volatility surrounding the recent COVID-19 pandemic, the housing market has shown remarkable resilience, fueled by demographic tailwinds and a housing shortage due to a decade of underbuilding.

Demand for Second Homes Bounces Back Following Summer Slowdown

Appraisal Buzz

According to a Redfin analysis of mortgage-rate lock data from real estate analytics firm Optimal Blue, demand for second homes was 60% higher in September than it was before the coronavirus pandemic hit.

State and Local Property Tax Revenues Eclipse $700 Billion

Eyes on Housing

NAHB analysis of the Census Bureau’s quarterly tax data shows that $703.5 billion in taxes were paid by property owners in the four quarters ending Q2 2021.[1] 1] Four-quarter property tax revenues have climbed 13.2% since decreasing 0.2% in Q2 2020 (the first decrease since 2012).

First Mortgage Default Rates Remain Steady in September

Appraisal Buzz

Thanks to the federal foreclosure moratorium sending more homeowners into forbearance, the default rate for first mortgages remained steady in September, but that number could go up as servicers begin processing and reporting foreclosures since the moratorium’s expiration on July 31.

Mortgage Rates Rise, Activity Declines

Eyes on Housing

The last month of mortgage purchasing and refinancing activities, as reflected in the Mortgage Bankers Association’s (MBA) latest weekly application surveys1, shows a rise in purchase applications and a decrease in refinancing as compared to the prior month’s activity.

Latest MBA Weekly Survey Shows Mortgage Application Decrease

Appraisal Buzz

Mortgage applications have decreased 6.3% from one week earlier, according to data from the Mortgage Bankers Association ‘s (MBA) Weekly Mortgage Applications Survey for the week ending October 15, 2021. The Market Composite Index, a measure of mortgage loan application volume, decreased 6.3%

NAR: Pending home sales recover

Valuation Review

Pending home sales rebounded in August, recording significant gains after two prior months of declines, according to the National Association of Realtors (NAR). Each of the four major U.S. regions mounted month-over-month growth in contract activity. Read on for more from NAR

Clarifire Partners With Freddie Mac to Streamline Servicing Workouts

Appraisal Buzz

Workflow automation platform integrates with Freddie Mac’s Resolve to save mortgage servicers time and cost reduction in the workout decisioning process. The post Clarifire Partners With Freddie Mac to Streamline Servicing Workouts appeared first on DSNews.

Institutional Investors Have a Comparative Advantage in Purchasing Homes That Need Repair

Urban

How can we level the playing field for prospective owner-occupants

New Homebuyers Finding the ‘Well Has Run Dry’

Appraisal Buzz

Supply chain issues for builders has contributed to a severe lack of inventory, which restricted home sales in September. The post New Homebuyers Finding the ‘Well Has Run Dry’ appeared first on DSNews. The post New Homebuyers Finding the ‘Well Has Run Dry’ appeared first on Appraisal Buzz.

AMC expands on its tech tool for appraisers

Valuation Review

Valuation Review concludes its conversation with Incenter Appraisal Management President Mark Walser, who gives more details about RemoteVal to further assist appraisers. The technology also provides assistance to lender designated users. Read on for final thoughts from Walser

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September Home Sales Stunted by Decline in Listings

Appraisal Buzz

New listings of homes for sale fell 9% from a year earlier, and closed home sales were down 5%. The post September Home Sales Stunted by Decline in Listings appeared first on theMReport.com. The post September Home Sales Stunted by Decline in Listings appeared first on Appraisal Buzz. Around The We

California signs legislation to increase affordable housing, strengthen accountability

Valuation Review

California Gov. Gavin Newsom signed AB Bill 948, and other bills, on Sept.

Home Sales, Median Price Slips in September

Appraisal Buzz

RE/MAX has released its National Housing Report for September 2021, which found that 2021 is starting to resemble a traditional year and mirroring seasonal norms as September home sales dropped 7.0% from August and the Median Sales Price slipped 1.1% to $329,000.

Survey: Safest cities in America noted

Valuation Review

According to the personal-finance website WalletHub, just 38 percent of Americans believe they are “very confident” they can protect themselves from COVID-19 when they go out in public. Given this statistic, WalletHub released its report “2021's Safest Cities in America,” identifying those locations

Total Expert Unveils New Capabilities for Banks and Lenders

Appraisal Buzz

Total Expert , a CRM and customer engagement platform for modern financial institutions, has released a series of functionality and new products to enhance the customer experience.

SettlementOne Valuation names CEO

Valuation Review

SettlementOne Valuation, a leading provider of appraisal management services to the U.S. mortgage industry, recently announced the hiring of Stephen French as chief executive officer. French also will be appointed to the SettlementOne Valuation Board of Managers

Freddie Mac Sells $1.2 Billion in NPLs at Auction

Appraisal Buzz

Freddie Mac has sold via auction 7,186 non-performing residential first lien loans (NPL) from its mortgage-related investments portfolio. The loans, with a balance of approximately $1.2 billion, are currently serviced by Specialized Loan Servicing LLC, Select Portfolio Servicing Inc.

FHFA: Housing measures and incorporating desktop appraisals announced

Valuation Review

The Federal Housing Finance Agency announced two measures to sustainably advance the affordability of homeownership for mortgage borrowers across the nation, especially those in underserved communities. Additionally, Freddie Mac and Fannie Mae will incorporate desktop appraisals into their selling guides

Canadians are keeping their purchasing power expectations in check – BoC

Mortgagebroker News

Elevated inflation and a tight labour market are not leading to optimism

Mortgage Rates are Rising

Lamacchia Realty

MORTGAGE RATES ARE RISING. The historically low mortgage rates we have seen during the COVID era are starting to rise. Economic stimulus programs were put in place in late spring of 2020 to prop up the economy , but as it has since recovered, these programs are likely soon being tapered off.

Variable rate mortgages – what’s in store?

Mortgagebroker News

Those options continue to entice many borrowers despite the looming threat of interest rate rises

Critical Economic Indicators Are Fluctuating—Are Real Estate Investors Affected?

BiggerPockets

There’s a lot of confusion in the economy right now: inflation, unemployment, supply chain issues, and more. As you know, what happens in the broader U.S. economy has important implications […]. Real Estate Deal Analysis & Advice Real Estate

Senior mortgage professional on how transferable skills help

Mortgagebroker News

Long-term success in the mortgage industry can be built on all kinds of foundations

BiggerPockets Podcast 521: Leukemia & Bankruptcy to Retired with 250 Units in 7 Years

BiggerPockets

People often tell each other to “stay positive” in light of grim circumstances or hard times. This consistent positivity can feel forced when going through something truly terrifying, but it’s […]. All BiggerPockets Real Estate Podcast

Current homeowners prefer aging in place – survey

Mortgagebroker News

Older Canadians are looking to hold on to the accumulated wealth represented by their current residences

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Why I Just Passed on a 60% ROI Real Estate Deal

BiggerPockets

Do you chase shiny objects? We’re all susceptible to them. Their allure is like a siren song for investors looking to boost cash flow and build wealth. I spent years […]. Real Estate Deal Analysis & Advice

Alberta housing markets see September resurgence

Mortgagebroker News

Average prices also had increases across the board, local industry associations say