Housing Wire
JUNE 8, 2022
We are at the point of the economic cycle where I really just get two questions: Are we going into recession and are home prices about to fall? I am going to do my best to try to make sense of what is happening with the housing market right now, since the years 2020-2024 have been a talking point of mine for years and my biggest concern since the fall of 2020 has been prices overheating — not having a deflationary collapse. .
George Dell
JUNE 8, 2022
How can we fix the excess of appraisers? Easy — we do what we have always done, each time. 1) We will raise the standards (“cost of entry”). 2) We will make it harder to become an appraiser; 3) Let the lower fees discourage newcomer appraisers. In past issues of the Analogue […]. The post Part 0: How Do We Fix the Excess of Appraisers?
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Housing Wire
JUNE 8, 2022
Mortgage application volume for the week ending June 3 dropped 6.5%, sliding to the lowest level in 22 years, driven by weakness in purchase and refinance applications. Despite the recent decline in mortgage rates , they were not low enough to spur refinance activity, which led to the decline of the Mortgage Bankers Association ‘s (MBA’s) Market Composite Index.
Appraisal Buzz
JUNE 8, 2022
Reggora , an appraisal management software company, is offering a no-cost benchmark evaluation to help lenders improve their appraisal operations and performance. The evaluation will review appraisal costs, turn times. AMC vs. panel operations, appraisal-dedicated employees, appraisal-revision requests, industry pain points, and more. One of the statistics that STRATMOR found in a study commissioned by Reggora was that 12.3% of closings are delayed because of the appraisal, and part of the delay
Housing Wire
JUNE 8, 2022
The planned merger between Intercontinental Exchange Inc. and Black Knight may be subject to scrutiny from the Department of Justice and the Consumer Financial Protection Bureau over antitrust concerns raised by the Community Home Lenders Association. In its Wednesday letter to the DOJ, CHLA claimed the small and midsize independent mortgage banks it represents would be “particularly vulnerable” to market concentration — such as the large conglomerate resulting from an ICE/ Black Knight merger —
Appraisal Buzz
JUNE 8, 2022
Reggora , an appraisal management software company, is offering a no-cost benchmark evaluation to help lenders improve their appraisal operations and performance. The evaluation will review appraisal costs, turn times. AMC vs. panel operations, appraisal-dedicated employees, appraisal-revision requests, industry pain points, and more. One of the statistics that STRATMOR found in a study commissioned by Reggora was that 12.3% of closings are delayed because of the appraisal, and part of the delay
Property Appraisal Zone brings together the best content for appraisal professionals from the widest variety of industry thought leaders.
Appraisal Buzz
JUNE 8, 2022
Due to rising home prices – which are up about 20% on average over the past year – U.S. homeowners have more tappable equity at their disposal than they have since 2006, according to Black Knight’s Mortgage Monitor report. . U.S. home prices are up 42% since the start of the pandemic, with the average home having gained almost 9% in value just since the start of 2022, according to Black Knight’s data.
Housing Wire
JUNE 8, 2022
The Federal Housing Finance Agency (FHFA), under the leadership of Director Sandra Thompson, on Wednesday unveiled landmark equitable housing finance plans for Fannie Mae and Freddie Mac. The plans establish a flexible framework for the government-sponsored enterprises to address barriers to sustainable housing and close the racial homeownership gap.
Appraisal Buzz
JUNE 8, 2022
The Federal Housing Finance Agency (FHFA) has released Fannie Mae’s and Freddie Mac’s Equitable Housing Finance Plans for 2022-2024. The plans are designed to complement the initiatives outlined in FHFA’s Strategic Plan: Fiscal Years 2022–2026, that promote Fannie Mae and Freddie Mac’s safety and soundness and foster housing finance markets that provide equitable access to affordable and sustainable housing.
Housing Wire
JUNE 8, 2022
Participants of Ginnie Mae ’s digital collateral program want commingling of eNotes and paper notes, and the agency is not saying no. Currently, the program allows for digital only pools. But if the agency moves to allow commingling, then eNotes and paper notes can be bundled in the same pool. Lynne Chandler, director of the digital collateral program at Ginnie Mae, said during a webinar hosted by Falcon Advisors last week that she “hears participants” and that the agency “wants to make th
Appraisal Buzz
JUNE 8, 2022
BLOG VIEW: Under RESPA, servicers are required to respond to qualified written requests (QWRs) from borrowers. Regulation X divides these requests into two categories: a request for information (RFI) or notice of error (NOE). Recently one federal appeals court, the US Court of Appeals for the 4th Circuit in Virginia, issued an opinion narrowing the definition of a QWR.
Housing Wire
JUNE 8, 2022
Pontiac, Michigan-based lender United Wholesale Mortgage (UWM) Wednesday launched a new platform for independent mortgage brokers to access purchase leads, past clients and real estate agents — a move to entice and retain loan officers in a shrinking mortgage market. UWM, the largest wholesale lender in the country, has been challenged by rising mortgage rates, decreasing refinancing volumes and fierce competition in the wholesale channel during the past couple of years, mainly from Rocket Mortg
Appraisal Buzz
JUNE 8, 2022
Mortgage applications decreased 6.5% on a seasonally adjusted basis from one week earlier, according to Market Composite Index data from the Mortgage Bankers Association ’s (MBA) Weekly Mortgage Applications Survey for the week ending June 3, 2022. This week’s results include an adjustment for the Memorial Day holiday. On an unadjusted basis, the index decreased 17% compared with the previous week.
Eyes on Housing
JUNE 8, 2022
Per the Mortgage Bankers Association (MBA), through the week ending June 3, total mortgage activity decreased, with the 30-year fixed-rate mortgage (FRM) rate increasing to 5.45%, on average. The latest week’s rate increased to 5.4%, after 3 consecutive weeks of declines, each by a few basis points. The Market Composite Index, a measure of mortgage loan application volume, decreased by.
Appraisal Buzz
JUNE 8, 2022
As remote work prompted many Americans to relocate during the pandemic, housing costs soared in second-home hotspots even more than the rest of the country, according to a new report from Redfin. Average rental prices rose 17.1% year-over-year nationwide to $1,893 in popular second-home markets in April. That’s compared with a 10% increase to $1,484 … The post Second Homes, Investment Properties Rise 25% YoY appeared first on DSNews.
Mashvisor
JUNE 8, 2022
When investing in real estate, you need to consider possible natural disasters that could occur especially when buying property in Tornado Alley. Table of Contents What Is Tornado Alley?
Appraisal Buzz
JUNE 8, 2022
As the market continues to hit record marks nearly unabated over the last few months, the topic of bubbles is being brought up around watercoolers and coffee machines across the country. But still, on the local level, properties are being snapped up record time and for record prices even in the face of multiple external … The post Bubble? No Bubble?
Real Quantum
JUNE 8, 2022
How Do I Earn the MAI Designation? Appraisers come in all shapes and sizes. Like many professions with a relatively low bar for entry, it attracts both serious and casual workers. As such, any committed professional with only state certification could be undervalued by the industry. However, appraisers who want to take their day job to the level of a serious career have some fantastic options to stand out from the crowd.
Appraisal Buzz
JUNE 8, 2022
According to a new report from the National Insurance Crime Bureau (NICB), fraudulent claims cost insurers between $4.6-9.2 billion in extra disaster claims in 2021, a cost that is eventually passed down to consumers by way of insurance premiums. In preparation for NICB’s Contractor Fraud Awareness Week (May 23-27), the company is releasing a slew … The post Fraud Caused Up to $9B in Additional Claims Last Year appeared first on DSNews.
Real Quantum
JUNE 8, 2022
RELEASE 2.17 Realquantum Release 2.17. Realquantum release 2.17 is now available to all our subscribers. The major theme of this release was about accelerating report writing. We did this by expanding our template platform. Now, you can configure preformatted text by report section and even by individual field. to make it easy to navigate, you can organize all the text segments by where they appear in your report.
Mashvisor
JUNE 8, 2022
Investing in Airbnb New York is now more beneficial than ever. How do you join such an exciting investment opportunity? Read on to learn more.
BiggerPockets
JUNE 8, 2022
If you haven’t noticed, real estate is the most expensive it’s ever been. For newcomers and experienced investors, it’s been a lot harder to find good deals at affordable prices. […].
Mortgagebroker News
JUNE 8, 2022
The central bank's approach to policy tightening might prove more stringent than the circumstances warrant, analyst warns
BiggerPockets
JUNE 8, 2022
Ed Mylett knows the housing market. He’s participated in real estate investing for decades and has become wildly successful thanks to his tenacity, relationship-building skills, and creativity when getting deals […].
Mortgagebroker News
JUNE 8, 2022
MIC also currently offers shareholders the opportunity to automatically reinvest their dividends in new shares
Housing Wire
JUNE 8, 2022
With a deadly combination of low housing inventory, reduction in refis and surging mortgage rates, consolidation in mortgage tech is expected. Businesses and entire industries tanked during the pandemic, but it created an ideal environment for mortgage tech companies, some of which rode the wave to banner years and historic growth. With interest rates hitting all-time lows, lenders doubled their origination volume to more than $4 trillion in both 2020 and 2021, hired more staff and ramped up inv
Mortgagebroker News
JUNE 8, 2022
These inflationary pressures are not likely to abate any time soon, analysts say
Valcre
JUNE 8, 2022
Whether you’re a part of the commercial real estate industry, a homeowner, or an appraiser yourself, most people have at least a vague idea of what appraisal is - the process of determining the market value of a given property. Less commonly understood, however, is the complex and painstaking process that helps determine that value, particularly for a commercial asset.
Mortgagebroker News
JUNE 8, 2022
Volatile home prices are creating challenges for brokers and clients alike
Will Springer Realtor
JUNE 8, 2022
Kent International Festival, June 18 The City of Kent celebrates diversity with a daylong cultural extravaganza. Come for the ethnic food, songs, dance and concert. Free. 10am-7pm Fremont Solstice Fair, June 18-19 The Fremont Fair is one thing: craft market, food, beer garden, street performers and funky painted cars, along with live music. Then there is the Fremont Solstice Parade : a wacky, wild, world-famous stroll among nude-painted cyclists – something that must be seen to believed.
Mortgagebroker News
JUNE 8, 2022
The total value of residential transactions is now actually on a strong upward trend
Will Springer Realtor
JUNE 8, 2022
Kent International Festival, June 18 The City of Kent celebrates diversity with a daylong cultural extravaganza. Come for the ethnic food, songs, dance and concert. Free. 10am-7pm Fremont Solstice Fair, June 18-19 The Fremont Fair is one thing: craft market, food, beer garden, street performers and funky painted cars, along with live music. Then there is the Fremont Solstice Parade : a wacky, wild, world-famous stroll among nude-painted cyclists – something that must be seen to believed.
Mortgagebroker News
JUNE 8, 2022
CIBC's Benjamin Tal offers his insights
Housing Wire
JUNE 8, 2022
A former top executive at Better.com claims the digital nonbank lender and its chief executive officer and founder, Vishal Garg, violated securities and labor laws as the company plans to go public via a merger with a blank check company. Sarah Pierce, former executive vice president for customer experience, sales and operations, filed a lawsuit on Monday in the federal court in the Southern District of New York, including Better Holdco, Garg and the general counsel Nicholas Calamari as defendan
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