Thu.Feb 17, 2022

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Mortgage rates jump to 3.92% amid high inflation

Housing Wire

The average 30-year-fixed rate mortgage climbed to 3.92% for the week ending Feb. 17, up 23 basis points from the previous week. It’s the highest level since May 2019, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.81%. The PMMS report is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit.

Mortgage 411
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Paradatec Hires Kim Weaver as Director, Product Strategy

Appraisal Buzz

Kim Weaver has joined Paradatec Inc. , a provider of AI-based document classification and data extraction technology for mortgage loan processing, as director, product strategy. Weaver has more than 25 years of experience in the financial services industry, with a focus on mortgage and consumer lending. She spent 15 years at Fiserv where she held senior roles in product management, product strategy and client delivery.

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Private-label market pushes back the pandemic blues

Housing Wire

The performance of loan pools backing private-label securitization deals has continued to improve across most measurement metrics through the end of January after hitting a low point in mid-2020 at the height of the pandemic. The most recent RMBS Credit Indices report from the Kroll Bond Rating Agency (KBRA) shows that loan pools supporting outstanding private-label residential mortgage-backed securities issuances overall are performing relatively well to date in both the prime and nonprime mark

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CondoTek Promotes Lisa Geloso to Head of Product Development and Customer Success

Appraisal Buzz

Lisa Geloso has been promoted to head of product development and customer success CondoTek , a provider of technology and services for condominium and co-op lenders. . Geloso previously served as the company’s director of business development and product operations. Geloso has over 30 years of mortgage industry experience and has held executive positions at Bank of America, Wells Fargo, TD Bank, and some of the leading large mortgage lenders including Freedom Mortgage and Arc Home.

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Fairway delivers service dogs to veterans?

Housing Wire

Fairway Independent Mortgage Corporation , Fairway Wholesale Lending and the American Warrior Initiative (AWI) wrapped up last year by granting 16 service dogs to 16 veterans in a timespan of less than one hour. The presentations were part of the American Warrior Initiative’s mission to bridge the military-civilian divide by bringing awareness to civilians all over this country of the challenges facing service members and helping service members to know that there are people who do care.

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Natural Disasters in 2021 Spark Nearly $60B in Damage

Appraisal Buzz

CoreLogic reports that 14.5 million homes, or nearly one in every 10 homes, in the U.S. was impacted by natural disasters over the past year. The post Natural Disasters in 2021 Spark Nearly $60B in Damage appeared first on DSNews. The post Natural Disasters in 2021 Spark Nearly $60B in Damage appeared first on Appraisal Buzz.

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Natural Disasters in 2021 Spark Nearly $60B in Damage

Appraisal Buzz

CoreLogic reports that 14.5 million homes, or nearly one in every 10 homes, in the U.S. was impacted by natural disasters over the past year. The post Natural Disasters in 2021 Spark Nearly $60B in Damage appeared first on DSNews. The post Natural Disasters in 2021 Spark Nearly $60B in Damage appeared first on Appraisal Buzz.

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Spruce’s Tess Bettenay on the untapped potential in real estate tech

Housing Wire

The HousingWire award spotlight series highlights the individuals who have been recognized through our Editors’ Choice Awards. Nominations for HousingWire’s Rising Stars award are now open through Friday, February 25, 2022. Click here to nominate someone you know — it can even be you! As more consumers look at the innovations and streamlined experiences in other industries, they are pushing lenders and real estate companies to adopt digital-buying experiences, expecting the same level of digitiz

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Freddie Mac’s Chief Economist Explains Rising Mortgage Rates in Last Week

Appraisal Buzz

The 30-year fixed-rate mortgage averaged 3.92% with an average 0.8 point for the week ending February 17, 2022, up from last week when it averaged 3.69%, shows Freddie Mac ’s Primary Mortgage Market Survey. A year ago at this time, the 30-year FRM averaged 2.81%. “Mortgage rates jumped again due to high inflation and stronger than expected consumer spending,” states Sam Khater, Freddie Mac’s chief economist.

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LoanDepot’s Anthony Hsieh puts his money where his mouth is

Housing Wire

Anthony Hsieh, the CEO and founder of loanDepot, has the tricky task of trying to convince analysts and investors that the mortgage lender will gain market share and remain profitable in arguably the most competitive mortgage market ever. To demonstrate that he genuinely believes loanDepot will prevail, loanDepot’s founder and largest shareholder is putting his money where his mouth is.

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SitusAMC Promotes Title Industry Specialists Joe Salmons and Rob Dace

Appraisal Buzz

Firm grows its title production offerings by elevating Salmons to SVP of Sales and Dace to Associate VP of Sales. The post SitusAMC Promotes Title Industry Specialists Joe Salmons and Rob Dace appeared first on DSNews. The post SitusAMC Promotes Title Industry Specialists Joe Salmons and Rob Dace appeared first on Appraisal Buzz.

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Single-Family Built-for-Rent Growth in 2021

Eyes on Housing

The number of single-family built-for-rent (SFBFR) construction starts increased almost 16% in 2021, after a record-breaking third quarter for production. The SFBFR market is a way to add inventory amid concerns over housing affordability and downpayment requirements in the for-sale market, particularly during a period when a growing number of people want more space and a single-family structure.

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Where Do Homeowners Pay the Most for Insurance?

Appraisal Buzz

A new report reveals Americans spend an average of $2,148 for a homeowners policy of $500,000. The post Where Do Homeowners Pay the Most for Insurance? appeared first on DSNews. The post Where Do Homeowners Pay the Most for Insurance? appeared first on Appraisal Buzz.

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Jumpstart Productivity With These Automated Workflows

GoForrmz

Revamp your business processes with workflow automation Equipping your team with process automation will improve your productivity and efficiency across your business organization. Manual tasks like scanning and uploading paper documents can be mundane and time-consuming for your staff. One of the most powerful aspects of GoFormz mobile forms is the ability to automate processes like dispatching pre-filled forms to field workers, emailing supervisors completed mobile forms, automatically running

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Housing Inventory Plunges to Record Lows

Appraisal Buzz

Homebuyers are facing another challenging shopping season, as Zillow revealed its latest monthly report showing record-breaking low inventory, and unprecedented price growth. The Zillow Home Value Index (ZHVI) rose 1.5% from December to January to $325,677, up 19.9% from a year ago. The annual growth rate represents an all-time high over the last 20 years, … The post Housing Inventory Plunges to Record Lows appeared first on DSNews.

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Removing the Definition of Personal Inspection

Appraiserblogs

Why is the ASB proposing to remove the definition of Personal Inspection? Several days ago, an appraiser posted the following comment which we have decided to publish as a free-standing post because we believe it deserves attention: Amazingly, while these are horrible – everyone seems to miss the real issue that will hit us all in 2023. As of 2023, if the ASB gets its way in a few weeks, the word “inspection” or “personal inspection” will no longer be defined in USPAP.

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Case-Shiller Price Increases: 2 Fla. Cities Top List

Empire Appraisal Group

Case-Shiller Price Increases: 2 Fla. Cities Top List. By Kerry Smith. Nationwide, home prices rose 18.8% in Nov., and the S&P CoreLogic Case-Shiller index finds Tampa (up 29%) and Miami (up 26.6%) in 2 of the top 3 spots. NEW YORK – One of the most-watched indicators of home prices, the S&P Dow Jones Indices (S&P DJI), found a slight slowdown in the national rate of home price increases – but less so in Florida.

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How to Conduct Investment Property Analysis in 2022

Mashvisor

Before you can invest in real estate, you must first examine your purchases in the same way you would evaluate any other prospective investment you want to add to your…

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Clear Capital Names Mei Ling EVP, Engineering; Cathy Wright Promoted to EVP, Product

Clear Capital

Ling will lead future vision of Clear Capital’s SaaS and Cloud-based Data and Analytics solutions; Wright has led product management team since October 2020. RENO, Nev. — February 16, 2021 —. In support of its goal to accelerate the digital appraisal movement and improve the collateral valuation experience through thoughtful innovation, Clear Capital® has announced two senior executive personnel moves focused on product delivery.

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Is PropStream the Best Real Estate Software for Investors in 2022?

Mashvisor

Investing in real estate properties is serious business. Other than access to funding, it also requires gathering extensive market research and data for proper real estate analysis.

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How to Develop a Growth Mindset: Start from a State of Abundance

BiggerPockets

Most people go through life believing that we are controlled by reality, but the truth is we control our reality. Yes, we are products of our environment, but, at the same time, our mindset determines the reality we experience.

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What Does Proration in Real Estate Mean to Massachusetts Homebuyers?

Buys Brokers Only LLC

Massachusetts home buyers are responsible for certain "prorated" items in addition to their down payment, closing costs , pre-paid interest, and escrowed taxes.

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Property Management: When Is it Time to Outsource?

BiggerPockets

If you have the time and skills to manage multiple properties on your own, more power to you. But, if you’re getting to a point where you’re struggling to balance it all, here are four specialists you should consider adding to the team so you can focus on the bigger picture. .

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Can chiropractic care make a difference in the workplace?

Mortgagebroker News

An increasing number of musculoskeletal problems have developed with working-from-home requirements, says CEO

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BiggerPockets Podcast 572: The Super Repeatable Path to Real Estate Wealth (No Experience Needed!) w/Erika Brown

BiggerPockets

Do you need to be rich to buy a rental property? Arguably, no. In reality, you don’t need a lot of experience, know-how, or cash on hand to buy your […].

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RMG's Valko: refinancing a trend to watch in 2022

Mortgagebroker News

The recent CMP Hall of Fame inductee talks us through what could be coming down the road in this year's market

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Modern Portfolio Theory: What It Is & How It Works

Property Metrics

Modern portfolio theory is widely used in the world of finance. In this article we’ll take a closer look at what modern portfolio theory is, review an example calculation, and discuss the assumptions behind the theory. What is Modern Portfolio Theory? Modern portfolio theory (MPT) is widely used in finance and commercial real estate to create investment portfolios that maximize return for a given level of risk, or alternatively, minimize risk for a given level of return.

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What is a broker's most valuable product?

Mortgagebroker News

Consumers need guidance, not just an array of options

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Freddie Mac rolls out direct deposit income verification

Housing Wire

Potential homebuyers seeking Freddie Mac -backed mortgages will no longer have to hunt for paper pay stubs to verify their income. Freddie Mac announced on Wednesday that it will roll out an automated process that allows mortgage lenders to assess a prospective homebuyer’s direct deposit income. Freddie Mac claims this would reduce the paper documentation burden on borrowers, speed loan closing and simplify the lending process.

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5-Star Brokerages 2022: Who are the best in the business?

Mortgagebroker News

Time is running out to be part of CMP's annual showcase

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32% of Black Owners Say Homes Unfairly Appraised

National Association of Realtors

Black and LGBTQ+ homeowners believe appraisal discrimination is rampant, a new survey finds.

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Housing permits look great — until you look at completions

Housing Wire

On Thursday, the U.S. Census Bureau reported that housing permits came in at an excellent print at 1,899,000 , surprising me. Then I took a look at housing completions at 1,246,000, and it reminded me of the sad state of the housing market. We have the demand — we just don’t have the supply. Global pandemics have always created short-term shortages due to a lack of production capacity.

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Credit for Builders & Developers Eases at the End of 2021

Eyes on Housing

In the fourth quarter of 2021, effective interest rates decreased on all four categories of loans tracked in NAHB’s Survey on Acquisition, Development & Construction (AD&C) financing. The average effective rate (based on rate of return to the lender over the assumed life of the loan taking both the contract interest rate and initial fee into account) decreased from 6.50.

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Nearly 30 Mortgage Servicers Gain Recognition for Industry Excellence from Fannie Mae

Appraisal Buzz

Fannie Mae ’s 2021 Servicer Total Achievement and Rewards (STAR) Program has recognized 29 mortgage servicers for competency, capacity and overall performance. Since 2011, Fannie Mae’s STAR Program has acknowledged mortgage servicers for their effective, standardized processes that help drive their performance and operational success. “We’re proud of the 2021 STAR Program recipients, and their dedicated efforts to support and facilitate equitable and sustainable access to homeownership,” says Cy

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