Tue.Aug 02, 2022

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When There’s No Comparison

The Appraiser Coach

If you’ve been a part of the appraisal world for long, you’ve had this experience. You’ve just submitted a completed report that you feel pretty good about. Soon afterward, however, Read More.

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VA now accepting desktop and exterior-only appraisals

Housing Wire

The Department of Veterans’ Affairs announced last week that it would allow desktop and exterior-only appraisals for some transactions. The changes took effect July 27. In a department memo, the VA explained that the move was a response to “high demand for appraisal services and limited availability of appraisers in certain local market areas.”. But the VA said that its “willingness to accept” alternative appraisals was not a substitute for an appraisers’ assessment of the appropriate scope of w

Appraisal 370
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CoreLogic: Home Price Appreciation Slowed For a Second Month in June

Appraisal Buzz

U.S. home prices increased in June – however the rate of appreciation slowed significantly. Home prices (including distressed sales) increased 0.6% compared with May and were up 18.3% compared with June 2021, according to CoreLogic’s home price index. It was the second consecutive month that home price appreciation slowed, CoreLogic’s data show. Still, eight states continued to see annual gains exceeding 20%.

Appraisal 195
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Freedom Mortgage launches MSR-backed private-label offering

Housing Wire

The mortgage servicing rights (MSR) market is continuing to pump out new deals. Freedom Mortgage , one of the country’s largest mortgage servicers, recently unveiled its second private-label offering this year backed by MSRs. In addition, two mortgage advisory firms are out with three new MSR bulk-sales offerings involving agency loan portfolios exceeding $1.4 billion in value combined.

Mortgage 391
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MBA Reports Lenders Provided $487.3 Billion in New Multifamily Mortgages

Appraisal Buzz

In 2021, 2,215 different multifamily lenders provided a total of $487.3 billion in new mortgages for apartment buildings with five or more units, according to the Mortgage Bankers Association ’s (MBA) annual report of the multifamily lending market. Last year’s $487.3 billion in volume represents a 35% increase from 2020’s tally of $359.7 billion. Thirty-two percent of the active lenders made five or fewer multifamily loans over the course of the year. ”2021 saw a.

Mortgage 195
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FoA cuts workforce amid company restructuring, market downturn

Housing Wire

Multichannel lender Finance of America (FoA) has laid off hundreds of employees across several rounds in the second and third quarters of 2022. The layoffs come amid a mortgage market downturn and a larger company restructuring, multiple current and former staffers told HousingWire. The Texas-based company reduced its workforce across centralized operations and branches, cutting processors, underwriters, appraisers and the support team, with its most recent layoff on July 15, sources said. .

Marketing 381

More Trending

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Which mortgage tech advancements are making the biggest impact? 

Housing Wire

Getting a mortgage is becoming an increasingly digital experience, with lenders and borrowers benefiting from saved time and fewer hiccups. HousingWire recently spoke with Kosta Ligris, CEO and co-founder of Stavvy, about how the mortgage tech journey has expanded beyond eClosings and is reaching all corners of the mortgage industry, from appraisal and valuation to internal workflows and processes. .

Mortgage 381
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Mortgage Cadence Upgrades Loan Origination System

Appraisal Buzz

Mortgage Cadence , an Accenture company, has released version 2.0 of its new Mortgage Cadence Platform (MCP) loan origination system. While MCP has been available for new customers since its launch late last year, with the release of 2.0, the company has officially retired their legacy enterprise lending platform and migrated all existing enterprise customers to the new platform.

Mortgage 195
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The economics behind a permanent forbearance plan

Housing Wire

Foreclosures cost a lot of money. A conservative estimate of the financial toll on the borrower, the creditor, the guarantor and the surrounding community shows a foreclosure can cost upwards of $65,000. Letting borrowers skip monthly payments for a period, through a permanent forbearance option, could help avoid that financial loss. Researchers at the Urban Institute argue that forbearance should be the first step in the standard foreclosure-prevention toolkit.

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Joseariel Gomez: Robotic Process Automation Can Improve Lending Efficiency End-to-End

Appraisal Buzz

PERSON OF THE WEEK: Especially since the pandemic, mortgage lenders are adopting new technologies to automate and accelerate the mortgage process – in a personalized manner – while at the same time providing the option to do business the traditional way (i.e., face to face). A relatively new technology known as Robotic Process Automation (RPA) is one approach which can help lenders automate simple tasks and thus increase efficiency end-to-end, while at the same.

Lending 195
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Endpoint launches scalable title features for proptech integration

Housing Wire

First American Financial Corporation ’s digital closing platform firm Endpoint is now offering a suite of integrated title tools specifically designed for proptech companies, investors and tech-forward real estate organizations looking for a scalable digital closing platform. Endpoint said its new solutions include APIs that automatically open title orders, track transaction statuses, exchange documents, and provide title agents and their clients with custom reporting features and notifications.

Investors 380
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When There’s No Comparison

Appraisal Buzz

If you’ve been a part of the appraisal world for long, you’ve had this experience. You’ve just submitted a completed report that you feel pretty good about. Soon afterward, however, … Read More. The post When There’s No Comparison appeared first on Appraisal Buzz.

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Don’t miss the Vanguard Forum at HW Annual Oct. 4

Housing Wire

Since we first started recognizing our HousingWire Vanguard award winners years ago, one key theme has been very clear — Vanguard honorees all share an unmistakable impact on the industry at-large. This immense impact on the industry is why we’re thrilled to bring some of the greatest housing leaders of all time together for our inaugural Vanguard Forum at HousingWire Annual.

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House Passes Act to Expand Wildfire Insurance Coverage

Appraisal Buzz

House passage of new measure includes legislation to study the impact of wildfires, and explore more ways to protect homeowners. The post House Passes Act to Expand Wildfire Insurance Coverage appeared first on DSNews. The post House Passes Act to Expand Wildfire Insurance Coverage appeared first on Appraisal Buzz.

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Second Quarter of 2022 Homeownership Rate at 65.8%

Eyes on Housing

The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate at 65.8% in the second quarter of 2022, which is statistically unchanged from the last quarter reading (65.4%). The national rental vacancy rate slipped to 5.6%, while the homeowner vacancy rate stayed at 0.8%. Both rental and homeowner vacancy rates are hovering near historical lows, reflecting tight housing.

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Homes in West Virginia Face Most At-Risk of 100-Year Storm 

Appraisal Buzz

While properties in Louisiana are most at-risk of flooding, an analysis of FEMA and Value Penguin data concluded that West Virginia had the highest percentage of homes that would be impacted in a 100-year storm. The post Homes in West Virginia Face Most At-Risk of 100-Year Storm appeared first on DSNews. The post Homes in West Virginia Face Most At-Risk of 100-Year Storm appeared first on Appraisal Buzz.

Appraisal 150
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The Mix of Home Buyers Is Changing, Leading to Improved Affordability

Eyes on Housing

For the first time since 2020, affordability expectations improved in the second quarter of 2022. After rising steadily for five straight quarters, the share of buyers who can only afford a minority of the homes for sale in their markets declined to 77%, down from 81% a quarter earlier. Conversely, the share able to afford at least half the homes.

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Home Prices Record 125 Straight Months of Growth

Appraisal Buzz

The latest Home Price Index (HPI) from CoreLogic covering June 2022 set a new milestone: it has now seen a record 125 consecutive months of year-over-year increases as home prices grew by 18.3% from June 2021. According to CoreLogic, though annual appreciation was still strong, it slowed from the previous month for the second consecutive … The post Home Prices Record 125 Straight Months of Growth appeared first on DSNews.

Appraisal 150
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VA Alternative Valuation Methods

Appraiserblogs

On August 1, 2022, the Veterans Affairs released Circular 26-22-13 announcing new procedures for alternative valuation methods, effective immediately. The takeaway: “Desktop Appraisal means a valuation where neither the VA fee panel appraiser nor the appraiser’s designee under the AAPP has physically viewed the exterior or interior of the property and the VA fee panel appraiser has determined an opinion of value based on information obtained from public records, the Veteran, homeowner, realtor,

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Top 3 Most Helpful Forms for Back to School

GoForrmz

Simplify back-to-school season with online forms. As many families and students start preparing to return to school, so are teachers and administrators. Relying on physical documents to organize student data introduces opportunities for incomplete and missing information, putting you and your school at risk. While paper documentation adds to the administrative bottlenecks of back-to-school registration, introducing online forms makes it easy to optimize, simplify, and accelerate back-to-school r

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How to Estimate Rental Income of Your Airbnb in 2022

Mashvisor

It’s important that you estimate rental income before investing in Airbnb. The best thing is that the process isn’t as hard as you might think.

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6 Costly Mistakes Home Sellers Make

Lamacchia Realty

There is a lot involved when it comes to selling a home. With dozens of moving parts, there are many places sellers can find themselves making mistakes and ultimately costing themselves money; markets evolve and what worked years ago may not work now. The good news is- thousands of homes are sold every day thanks to REALTORS® who have made it their job to guide and educate their sellers through this process.

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What An Economic Downturn Means for Real Estate Investments

BiggerPockets

There’s a lot of talk these days about economic cycles, particularly recessions. I’ve noticed that many people assume that with an economic downturn, real estate will get hit as hard […].

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Supply remains housing market's number-one issue, says CMHC's Dugan

Mortgagebroker News

Low inventory is a problem that needs to be tackled urgently, argues national housing agency's chief economist

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Puerto Rican Paradise, Arctic Abodes, and Building “Dream” Vacation Rentals

BiggerPockets

Sometimes in real estate, less is more, and as the saying goes—quality over quantity. You don’t need a portfolio with 100+ properties if you have a strong cash flow from […].

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Guide To Caceres Houston Homes For Sale

Houston Properties

Read reviews and see homes for sale in Caceres Houston, a luxury gated patio and townhome community.

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Eight cheapest places to live in and rent in Ontario (2022)

Mortgagebroker News

A breakdown of the average rent, house, and living costs in Canada's most populous province

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BEST HOUSTON NEIGHBORHOODS FOR RUNNING AND BIKING

Houston Properties

Top 11 neighborhoods if you want to live close to the best hiking & biking.

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8Twelve CEO on what brokers should prioritize amid rising rates

Mortgagebroker News

The executive also shared his thoughts on the company's success this year to date

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Big Possibilities: The Homebuyer’s Guide to Jumbo Loans

PennyMac

So you have your eye on a new home, but the loan you need to finance it would have to be larger than the conforming loan limit — what are your options? A jumbo loan can be a great fit for homebuyers in a strong financial position who want to secure a large loan. Learn more about jumbo mortgages and decide whether or not it’s the right type of loan for you.

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Survey: Non-residents deep in multiple home ownership across Canada

Mortgagebroker News

This demographic is heating up the landscape in the nation's most in-demand markets

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Choosing Materials When Renovating a Rental Property

Eppraisal

Whether you have just purchased an investment property or have had one for some time, if it is ready for a renovation, you will want to carefully select your materials. Finding materials that will last and be a good "bang for your buck", could be a challenge. Tenants typically don't treat their rental homes like owners treat their homes.

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Red Flags Related to a Title on a Home

Will Springer Realtor

Preparing a home for sale includes dozens – or even hundreds – of steps choreographed between seller, agent and other key individuals. But the transaction likely will fail to succeed if issues are found with the deed of trust, better known as title. That’s why it’s critical for a competent real estate professional and title officer to review the title as soon as possible and help identify any potential concerns.

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Economists highlight the Toronto housing market's 2022-23 prospects

Mortgagebroker News

Some disturbing trends are already apparent, market observers warn