Fri.Jan 21, 2022

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Court authorizes class action against Carrington over servicing fees

Housing Wire

The United States Court of Appeals for the Fourth Circuit ruled on Wednesday that borrowers can pursue a class action lawsuit against Carrington Mortgage Services regarding the fees it applied when collecting payments online or by phone. The plaintiffs – Ashly Alexander and Cedric Bishop – brought the case in September 2020, alleging that the mortgage servicer violated Maryland’s debt collection and consumer protection statutes by illegally charging $5 for monthly payments online or by pho

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Home Values Up Nearly 20% From Last Year

Appraisal Buzz

People were not just fighting to get gifts this holiday season, they were also eager to get into homes entering the market in droves. But those that entered the market were not just fighting astonishingly low inventory levels, but record high prices as well. According to Zillow’s December Home Market Report, home values grew a record 1.6% month-over-month in December, and that appreciation accelerated throughout much of the U.S.

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How rookie agents are faring during the pandemic

Housing Wire

When the restaurant Tom Hunt worked at as a server temporarily shut down during the spring of 2020 due to the COVID-19 pandemic, he decided it was the right time to pursue his longtime desire of becoming a real estate agent. “I’ve always been interested in real estate, but I’ve always had other obligations and I didn’t feel confident that my commissions, at least in the beginning, would be enough to support my family,” the Eureka, California-based agent said.

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Floify Integrates Wolters Kluwer’s eOriginal into Loan Processing System

Appraisal Buzz

Wolters Kluwer Compliance Solutions and Floify , a point-of-sale solution in the mortgage industry and subsidiary of Porch Group Inc., are collaborating to leverage the capabilities of Wolters Kluwer’s eOriginal product suite. The two companies are integrating Wolters Kluwer eOriginal’s digital promissory note (eNote) technology into Floify’s loan processing system through a hybrid e-closing process.

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Coalition pushes big changes to GSE Duty to Serve proposals

Housing Wire

FHFA, Federal Housing Finance Agency. On the heels of the Federal Housing Finance Agency ’s rejection of Fannie Mae and Freddie Mac ’s Duty to Serve plans, a coalition of housing groups have some bold ideas for how to beef them up. The collective, dubbed the Underserved Mortgage Markets Coalition, said that in order to be “impactful,” the government sponsored enterprises should significantly hike their purchase of manufactured housing loans.

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Ginnie Mae Further Streamlines Advanced Loan Modifications

Appraisal Buzz

On Friday afternoon, Ginnie Mae issued a new memorandum (APM 22-01) stating that they are streamlining its documentation requirements for servicers participating in the Federal Housing Administration’s (FHA) Advanced Loan Modification program (ALM). The memo does away with the requirement for recordation and title insurance in some cases. The new policy supports the current Administration’s “goal of assisting homeowners impacted by the pandemic get on the road to … The post Ginnie Mae Fu

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Inventory of Homes Drops Again to 923,000 Units

Appraisal Buzz

The supply of available homes dropped again in December—a new low recorded by Zillow. The post Inventory of Homes Drops Again to 923,000 Units appeared first on DSNews. The post Inventory of Homes Drops Again to 923,000 Units appeared first on Appraisal Buzz.

Inventory 195
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2021 U.S. Population Growth Lowest on Record

Eyes on Housing

According to the U.S. Census Bureau, the of the United States increased by 393,000 to an estimated 332 million from the previous year. In 2021, the estimated population growth rate of 0.12 percent was the lowest since the Bureau began collecting this data beginning in 1900.

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U.S. Sees Biggest Rent Jump in Two Years

Appraisal Buzz

Redfin agents report the biggest increase was in Austin, where rents surged 40% from a year earlier during the pandemic. The post U.S. Sees Biggest Rent Jump in Two Years appeared first on theMReport.com. The post U.S. Sees Biggest Rent Jump in Two Years appeared first on Appraisal Buzz.

Agents 195
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7 of the Best Downtown Raleigh Restaurants {2022}

Raleigh Realty

Downtown Raleigh Restaurants It was a tough job eating at so many of the best downtown Raleigh restaurants, someone had to do it though While we are a local Raleigh real estate company helping people buy and sell homes we love writing about all the best things about Raleigh Let me start by saying this article was damn near impossible to write. My article on the best restaurants in Raleigh was likely even easier since I had 17 restaurants to choose from.

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Mortgage Servicers Must Adapt to New Regulatory Realities; Consulting Firms Can Help

Appraisal Buzz

BLOG VIEW: At the onset of the pandemic, mortgage and consumer regulators relaxed the supervision and enforcement of servicers’ compliance with certain requirements that gave servicers time to adjust to the constraints caused by the pandemic. The regulatory agencies’ flexibility, however, has ended. On Nov. 10, 2021, regulators issued a joint statement declaring that flexibility is no longer warranted, as servicers have had sufficient time to adjust their operations.

Mortgage 195
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Lamacchia Realty’s 2019 & 2020 President’s Club Members Return from Aruba

Lamacchia Realty

The 2019 and 2020 President’s Club groups recently returned from their annual trip to Aruba! Due to the pandemic, the 2019 trip had been postponed and was combined with the 2020 winner’s trip in January 2022. This was an all-inclusive paid-for trip to the Riu Palace Antillas Hotel in Palm Beach, Aruba. “I can’t even put into words how fun it was to FINALLY be away with this wonderful group of people.

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Enforcement Actions Taken Against 400 MLOs Over SAFE Act Violations

Appraisal Buzz

State regulators have reached a settlement with 400 mortgage loan originators who falsely claimed to have completed their SAFE Act-mandated education requirements. The post Enforcement Actions Taken Against 400 MLOs Over SAFE Act Violations appeared first on DSNews. The post Enforcement Actions Taken Against 400 MLOs Over SAFE Act Violations appeared first on Appraisal Buzz.

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Airbnb Venice FL 2022: Why and Where Should You Invest?

Mashvisor

If you’re interested in buying an investment property, then perhaps you should consider investing in an Airbnb rental in Venice, FL in 2022.

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Which Housing Markets Are Most at Risk of COVID Impact?

Appraisal Buzz

Markets were considered vulnerable based on the percentage of homes facing foreclosure, affordability, equity, and foreclosure reports. The post Which Housing Markets Are Most at Risk of COVID Impact? appeared first on DSNews. The post Which Housing Markets Are Most at Risk of COVID Impact? appeared first on Appraisal Buzz.

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Airbnb Davenport FL 2022: Why and Where Should You Invest?

Mashvisor

Are you looking for a new investment to add to your real estate portfolio? Learn why you should invest in an Airbnb Davenport FL in 2022.

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Coronavirus Housing Report Spotlights Locales Vulnerable to Economic Impact

Appraisal Buzz

Chicago and New York City areas were seen as the areas most at-risk of negative economic damage related to the pandemic in Q4 of 2021. The post Coronavirus Housing Report Spotlights Locales Vulnerable to Economic Impact appeared first on theMReport.com. The post Coronavirus Housing Report Spotlights Locales Vulnerable to Economic Impact appeared first on Appraisal Buzz.

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Airbnb Fort Myers Beach 2022: Why and Where Should You Invest?

Mashvisor

Buying Airbnb income property has been one of the most profitable ways of investing in real estate in the past few years.

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Victoria Garcia DeLuca Joins Guild Mortgage in New D&I Role

Appraisal Buzz

New role of VP of Marketplace Diversity Strategy was established to foster Guild’s goal to increase homeownership among minorities and underserved markets. The post Victoria Garcia DeLuca Joins Guild Mortgage in New D&I Role appeared first on theMReport.com. The post Victoria Garcia DeLuca Joins Guild Mortgage in New D&I Role appeared first on Appraisal Buzz.

Mortgage 150
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Rookie Podcast 150: Rookie Reply: Which Rent Numbers Can You Trust When Analyzing a Deal?

BiggerPockets

Ashley and Tony’s Instagram DMs have been blowing up! This week’s question comes from Collette through Tony’s Instagram direct messages. Collette is asking: Do you make offers based on pro […].

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Variable rate mortgages in Canada – what will happen in 2022?

Mortgagebroker News

The market's trajectory will be influenced by momentum from lenders' late-2021 decisions, observers say

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Focus on Smart Investing During a Gold Rush

BiggerPockets

If you haven’t noticed, we’re in the midst of a modern gold rush. Many who never invested in real estate are now in it full-time. But there are dark clouds on the horizon.

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Which asset class benefited from a pandemic-driven boost in demand?

Mortgagebroker News

The segment's accelerated activity is especially apparent in Canada's largest markets

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Maintaning the Exterior of Your Home

Eppraisal

Step outside and take a look at the exterior of your home. Take notes on what you see that may need attention. Updating and maintaining the exterior of your home on an annual basis can help preserve the life of every aspect of your exterior. Keeping up with its condition will also add to your curb appeal and home value. You can make updates on any budget.

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First National's new CEO talks 2022 priorities

Mortgagebroker News

The executive told CMP big things could be in store for the mortgage broker profession

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Purchase mortgage volume projected to clear $2.1T in ’22, ’23

Housing Wire

Despite the expected rise in interest rates, the single-family housing market will continue to be boom in 2022, according to a report published by Freddie Mac this week. Sam Khater, chief economist at Freddie Mac, said in a statement that the “combination of a large number of entry-level homebuyers facing a shortage of entry-level inventory of homes for sale should keep the housing market competitive.”.

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Affordable, green-friendly housing project set for Alberta market

Mortgagebroker News

New federal investment to create a four-storey, environmentally conscious housing complex

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The emerging ESG market is a diamond in the rough

Housing Wire

When the terms “green” or “ESG” are broached in polite company, eyes have a tendency to roll. It’s natural for the mind to wander toward a parade of green branding campaigns that may be aspirational in messaging but rarely result in measurable climate-friendly or socially sustainable solutions in practice. Still, hidden among all that greenwashed coal may be a framework or two for manufacturing diamonds, according to some experts working to develop those investment standards.

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Manitoba housing – what drove a record year?

Mortgagebroker News

The province remains one of Canada's most affordable despite a historic year

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Even with Rising Rates, Freddie Mac Predicts Housing Will Remain Stable

Appraisal Buzz

Freddie Mac has predicted that the single-family housing market will remain stable in 2022 even as mortgage rates are expected to increase. A new Quarterly Forecast released by the company’s chief economist estimates that rising rates will lead to moderation in homebuyer demand, slowing house price growth somewhat. “As mortgage rates rise, we do expect some moderation in housing demand, causing house price growth to temper.

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IMC announces new senior leadership appointment

Mortgagebroker News

New executive has previously held high-level positions at several major market names