Housing Wire

JULY 14, 2022

JPMorgan Chase leaders Thursday provided a glimpse of what’s to come as mortgage lenders begin sharing performance data for the second quarter – and it’s not pretty. Opening the earnings season, the bank reported double digit declines in originations, margins compressions and revenues in a free-fall, demonstrating how higher mortgage rates, the result of the Federal Reserve ‘s tightening monetary policy, are hurting originators.

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Appraisal Buzz

JULY 14, 2022

Prospective buyers thwarted by record-high prices and inflationary issues may find relief in the coming weeks as Realtor.com notes softening demand and rising supply may give way to more buying opportunities. The post Cost of Homes Adjusting to a New Market Equilibrium appeared first on DSNews. The post Cost of Homes Adjusting to a New Market Equilibrium appeared first on Appraisal Buzz.

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Housing Wire

JULY 14, 2022

Non-QM lender Kiavi , which specializes in fix-and-flip and investor loans, has laid off 39 employees, sources told HousingWire on Thursday. An email sent to employees on Wednesday morning said Kiavi reduced the size of the firm by about 7% “to reduce our cost structure and protect the financial health of the company.” Kiavi has more than 300 employees, according to the firm’s website.

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Appraisal Buzz

JULY 14, 2022

ATTOM ’s Midyear 2022 U.S. Foreclosure Market Report shows there were a total of 164,581 U.S. properties with foreclosure filings – default notices, scheduled auctions or bank repossessions – in the first six months of 2022. That figure is up 153% from the same time period a year ago but down just 1% from the same time period two years ago. “Foreclosure activity across the United States continued its slow, steady climb back to pre-pandemic.

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Housing Wire

JULY 14, 2022

The Securities and Exchange Commission (SEC) has launched an investigation into digital nonbank lender Better.com and its blank check company, Aurora Acquisition Corp., to evaluate allegations of federal securities laws violations, prompted by a former top executive’s recent lawsuit. Better.com and Aurora received requests for documents from the SEC’s enforcement division in the second quarter of 2022.

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Appraisal Buzz

JULY 14, 2022

Jim Albertelli and Stacy Mestayer of Voxtur explain why the housing slowdown could prove to be a boon for mortgage servicing. The post Pumping the Brakes appeared first on DSNews. The post Pumping the Brakes appeared first on Appraisal Buzz.

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Eyes on Housing

JULY 14, 2022

The NAHB/Westlake Royal Remodeling Market Index (RMI) for the second quarter of 2022 posted a reading of 77, declining 10 points from the second quarter of 2021. This is the largest year-over-year decrease since the survey was redesigned in Q1 2020. The RMI is based on a survey that asks remodelers to rate various aspects of the residential remodeling market.

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Marketing 187

Housing Wire

JULY 14, 2022

The Federal Housing Administration (FHA) is taking steps to address the affordability crisis by boosting supply, but it’s not lowering fees it charges borrowers just yet. Senior officials at the Department of Housing and Urban Development , which houses the FHA, said today during a press briefing that it would focus on improving financing for manufactured homes and revamp its renovation financing.

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Appraisal Buzz

JULY 14, 2022

Foreclosure activity crept up over the first six months of the year, up 153% year-over-year, but down just 1% from pre-pandemic times of just two years ago. The post Foreclosure Starts Up in First Half of 2022 appeared first on DSNews. The post Foreclosure Starts Up in First Half of 2022 appeared first on Appraisal Buzz.

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Appraisal 150

Housing Wire

JULY 14, 2022

The rollercoaster continues for mortgage rates. After falling 40 basis points last week to 5.30% , purchase mortgage rates climbed back up this week to 5.50%, according to the latest PMMS survey from Freddie Mac. “Mortgage rates are volatile as economic growth slows due to fiscal and monetary drags,” said Sam Khater, Freddie Mac’s chief economist. “With rates the highest in over a decade, home prices at escalated levels, and inflation continuing to impact consumers, affordability remains the mai

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Appraisal Buzz

JULY 14, 2022

The National Oceanic and Atmospheric Administration, better known as NOAA, is the penultimate source of information when it comes to climate change, and the news is not good when it comes to severe weather: the agency predicts that the increased frequency and intensity of extreme weather events we are currently seeing will only get worse … The post $29B in Claims Denied After Severe Storms appeared first on DSNews.

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Appraisal 195

Housing Wire

JULY 14, 2022

The HousingWire award spotlight series highlights the individuals who have been recognized through our Editors’ Choice Awards. Nominations for HousingWire’s Vanguards are now open through Friday, July 22, 2022. Click here to nominate someone. As home prices continue to rise, one growing point of interest for many homeowners are reverse mortgages, with older Americans sitting on a record $10 trillion in home equity, according to data from the National Reverse Mortgage Lenders Association. “

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Appraiserblogs

JULY 14, 2022

The chief of the Brookings Institution, a retired four-star general, resigned last month under investigation of lobbying on behalf of a foreign government and then covering it up. If the allegations are true, it means the think tank, under the general’s watch, was secretly taking illicit cash from at least one outside interest group at a time it was engaged in research that irreparably damaged the reputation of the nation’s real estate appraisers.

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Empire Appraisal Group

JULY 14, 2022

Nearly Half of US Homeowners Considered ‘Equity Rich’. As home prices continue to increase, homeowners are getting richer and richer. About 45% of mortgaged residential properties in the U.S. were considered “equity rich” in the first quarter, up from about 32% a year earlier, according to a new report from ATTOM Data Solutions. Equity rich means that the combined estimated amount of the loan balance on the home was no more than 50% of the home’s estimated market value.

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BiggerPockets

JULY 14, 2022

For months, I, along with many prominent housing market analysts, have been forecasting a big shift in the housing market at some point in 2022. For most of the last […].

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Mortgagebroker News

JULY 14, 2022

"It's just going to push more and more borrowers into the alternative space as they struggle to qualify with the banks"

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BiggerPockets

JULY 14, 2022

The “semi-retired” lifestyle seems to go against everything early retirement chasers have been taught. For years, it’s been pushed into our brains that “retirement” is one stark event. You retire […].

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Finance 60

Mortgagebroker News

JULY 14, 2022

The central bank's policy rate is currently right at the midpoint of the institution's "neutral" range

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BiggerPockets

JULY 14, 2022

Short-term rental investing has been one of the most profitable, fastest-growing types of real estate investing strategies in decades. When the events of 2020 happened, most vacation rental owners thought that their passive income stream had been shut […].

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Mortgagebroker News

JULY 14, 2022

Progressively higher living and borrowing costs will take their toll, Crown corporation says

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Housing Market Marketing 69

Housing Wire

JULY 14, 2022

Computer code on a screen with a skull representing a computer virus / malware attack. Nearly a year has passed since the Cloudstar ransomware attack and Stephen Millstein says he still feels “something like PTSD” whenever he thinks about what went down that dreadful mid-July weekend. Millstein’s title firm, Certified Title Corporation , founded in 1994, was one of the hundreds of firms impacted by the cyber attack on the cloud storage provider.

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Mortgagebroker News

JULY 14, 2022

These came in the wake of the Bank of Canada’s 100-basis-point hike, its largest in 24 years

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Lending 69

Housing Wire

JULY 14, 2022

Palo Alto, California-based fintech Point , which offers home-equity investment (HEI) contracts to homeowners, is expanding its services into Nevada and Ohio. With the expansion, Point’s HEI contracts are now available in 18 states and the District of Columbia, according to the company. “Nevada homeowners are sitting on more than $150 billion in tappable home equity, and Ohio homeowners have more than $330 billion,” said Eddie Lim, CEO and co-founder of Point.

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Contracts Investing Finance Marketing 384

Mortgagebroker News

JULY 14, 2022

The central bank introduced an unexpectedly large rate jump, its biggest since 1998

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Housing Wire

JULY 14, 2022

The Federal Housing Administration’s recently announced first look program for foreclosed property auctions is a welcome innovation that should help boost a trend that has been developing over the past decade: more foreclosed homes getting into the hands of owner-occupants and fewer getting into the portfolios of large-scale single family rental operators, often backed by Wall Street.

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Appraisal Buzz

JULY 14, 2022

Single-family home prices increased at the annualized rate of 19.4% in Q2 2022, down slightly from the previous quarter’s upwardly revised 20.5%, according to Fannie Mae ‘s (FNMA/OTCQB) latest Home Price Index (FNM-HPI) reading, a national, repeat-transaction home price index measuring the average, quarterly price change for all single-family properties in the United States, excluding condos.

Appraisal 195

Appraisal 195

Eyes on Housing

JULY 14, 2022

Since the relatively low point at the onset of the pandemic on April 17, 2020, lumber prices have been volatile, with record setting spikes interspersed with periods of substantial declines. On balance over the entire period, however, softwood lumber prices have increased enough to add $14,345 to the price of an average new single-family home, and $5,511 to the market.

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Marketing 187

Appraisal Buzz

JULY 14, 2022

The second-quarter results of home price growth are in and found that growth last quarter grew at near-record level highs again, putting further financial pressure on homeseekers. This information comes by way of Fannie Mae’s Home Price Index, which measures the average quarterly price change for all single-family properties in the country (excluding condominiums).

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